XML 21 R10.htm IDEA: XBRL DOCUMENT v3.21.1
Inventory
6 Months Ended
Mar. 31, 2021
Inventory Disclosure [Abstract]  
INVENTORY INVENTORIES
At the end of each quarter, the Company reviews the performance and outlook for all of its communities and land inventories for indicators of potential impairment and performs detailed impairment evaluations and analyses when necessary. As of March 31, 2021, the Company determined that no communities were impaired, and no impairment charges were recorded during the three months ended March 31, 2021. During the six months ended March 31, 2021, impairment charges totaled $5.6 million. There were $1.7 million of impairment charges recorded in the three and six months ended March 31, 2020.

During the three and six months ended March 31, 2021, earnest money and pre-acquisition cost write-offs related to land purchase contracts that the Company has terminated or expects to terminate were $3.8 million and $6.5 million, respectively, compared to $7.2 million and $11.1 million in the same periods of fiscal 2020. Inventory impairments and land option charges are included in cost of sales in the consolidated statements of operations.