Leases Leases - Footnote (Notes)

12 Months Ended

Dec. 31, 2019

Leases - Footnote [Abstract]

Lessee, Operating Leases [Text Block]

Leases

We have operating leases for our corporate and division offices, production facilities, model homes, and certain office and production equipment. Additionally, we have finance leases for production equipment which are recorded in homebuilding "Property, plant and equipment, net" and "Accrued expenses and other liabilities" on the accompanying consolidated balance sheets. Our leases have remaining lease terms of up to 20 years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the lease.

On January 1, 2019, we adopted ASU 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet as ROU assets with corresponding lease liabilities. See Note 1 for additional discussion regarding the adoption of Topic 842. The ROU assets and lease liabilities are recognized based on the present value of lease payments over the lease term, discounted using our incremental borrowing rate at the commencement date of the lease. We estimate our incremental borrowing rate based on available published borrowing rates commensurate with our debt rating and the lease term, adjusted to infer collateralization. We recognize operating lease expense on a straight-line basis over the lease term.

We have elected to use the portfolio approach for certain equipment leases which have similar lease terms and payment schedules. Additionally, for certain equipment we account for the lease and non-lease components as a single lease component. Our sublease income is de minimis.

We have certain leases, primarily the leases of model homes, which have initial lease terms of twelve months or less ("Short-term leases"). We elected to exclude these leases from the recognition requirements under Topic 842, and these leases have not been included in our recognized ROU assets and lease liabilities.

The components of lease expense were as follows:

	Year Ended December 31, 2019
Lease expense
Operating lease expense	$	30,991
Finance lease expense:
Amortization of ROU assets	382
Interest on lease liabilities	76
Short-term lease expense	26,843
Total lease expense	$	58,292

For the years ended December 31, 2018 and 2017, total rent expense incurred under operating leases was approximately $52,900 and $49,400, respectively.

Other information related to leases was as follows:

	Year Ended December 31, 2019
Supplemental Cash Flows Information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	25,272
Operating cash flows from finance leases	76
Financing cash flows from finance leases	306
ROU assets obtained in exchange for lease obligations:
Operating leases	$	17,078
Finance leases	$	7,434
Weighted-average remaining lease term (in years):
Operating leases	5.1
Finance leases	6.7
Weighted-average discount rate:
Operating leases	3.6		%
Finance leases	2.8		%

We are committed under multiple non-cancelable operating leases involving office space, model homes, production facilities, automobiles and equipment. Future minimum lease payments under these operating leases as of December 31, 2019 are as follows:

Year Ending December 31,	Operating Leases			Finance Leases
2020	$	30,670		$	996
2021	20,865			997
2022	16,640			996
2023	13,082			997
2024	8,016			997
Thereafter	9,911			2,936
Total minimum lease payments	99,184			7,919
Less:
Imputed interest	(7,857		)	(791		)
Short-term lease payments	(5,950		)	—
Total lease liability	$	85,377		$	7,128

Leases of Lessee Disclosure [Text Block]

Leases

We have operating leases for our corporate and division offices, production facilities, model homes, and certain office and production equipment. Additionally, we have finance leases for production equipment which are recorded in homebuilding "Property, plant and equipment, net" and "Accrued expenses and other liabilities" on the accompanying consolidated balance sheets. Our leases have remaining lease terms of up to 20 years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the lease.

On January 1, 2019, we adopted ASU 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet as ROU assets with corresponding lease liabilities. See Note 1 for additional discussion regarding the adoption of Topic 842. The ROU assets and lease liabilities are recognized based on the present value of lease payments over the lease term, discounted using our incremental borrowing rate at the commencement date of the lease. We estimate our incremental borrowing rate based on available published borrowing rates commensurate with our debt rating and the lease term, adjusted to infer collateralization. We recognize operating lease expense on a straight-line basis over the lease term.

We have elected to use the portfolio approach for certain equipment leases which have similar lease terms and payment schedules. Additionally, for certain equipment we account for the lease and non-lease components as a single lease component. Our sublease income is de minimis.

We have certain leases, primarily the leases of model homes, which have initial lease terms of twelve months or less ("Short-term leases"). We elected to exclude these leases from the recognition requirements under Topic 842, and these leases have not been included in our recognized ROU assets and lease liabilities.

The components of lease expense were as follows:

	Year Ended December 31, 2019
Lease expense
Operating lease expense	$	30,991
Finance lease expense:
Amortization of ROU assets	382
Interest on lease liabilities	76
Short-term lease expense	26,843
Total lease expense	$	58,292

For the years ended December 31, 2018 and 2017, total rent expense incurred under operating leases was approximately $52,900 and $49,400, respectively.

Other information related to leases was as follows:

	Year Ended December 31, 2019
Supplemental Cash Flows Information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	25,272
Operating cash flows from finance leases	76
Financing cash flows from finance leases	306
ROU assets obtained in exchange for lease obligations:
Operating leases	$	17,078
Finance leases	$	7,434
Weighted-average remaining lease term (in years):
Operating leases	5.1
Finance leases	6.7
Weighted-average discount rate:
Operating leases	3.6		%
Finance leases	2.8		%

We are committed under multiple non-cancelable operating leases involving office space, model homes, production facilities, automobiles and equipment. Future minimum lease payments under these operating leases as of December 31, 2019 are as follows:

Year Ending December 31,	Operating Leases			Finance Leases
2020	$	30,670		$	996
2021	20,865			997
2022	16,640			996
2023	13,082			997
2024	8,016			997
Thereafter	9,911			2,936
Total minimum lease payments	99,184			7,919
Less:
Imputed interest	(7,857		)	(791		)
Short-term lease payments	(5,950		)	—
Total lease liability	$	85,377		$	7,128

As reported under prior GAAP, future minimum lease payments under operating leases as of December 31, 2018 were as follows:

Year Ending December 31,
2019	$	31,564
2020	22,210
2021	17,331
2022	13,667
2023	10,324
Thereafter	12,607
	107,703
Sublease income	(25		)
	$	107,678

Lessee, Finance Leases [Text Block]

Leases

We have operating leases for our corporate and division offices, production facilities, model homes, and certain office and production equipment. Additionally, we have finance leases for production equipment which are recorded in homebuilding "Property, plant and equipment, net" and "Accrued expenses and other liabilities" on the accompanying consolidated balance sheets. Our leases have remaining lease terms of up to 20 years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the lease.

On January 1, 2019, we adopted ASU 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet as ROU assets with corresponding lease liabilities. See Note 1 for additional discussion regarding the adoption of Topic 842. The ROU assets and lease liabilities are recognized based on the present value of lease payments over the lease term, discounted using our incremental borrowing rate at the commencement date of the lease. We estimate our incremental borrowing rate based on available published borrowing rates commensurate with our debt rating and the lease term, adjusted to infer collateralization. We recognize operating lease expense on a straight-line basis over the lease term.

We have elected to use the portfolio approach for certain equipment leases which have similar lease terms and payment schedules. Additionally, for certain equipment we account for the lease and non-lease components as a single lease component. Our sublease income is de minimis.

We have certain leases, primarily the leases of model homes, which have initial lease terms of twelve months or less ("Short-term leases"). We elected to exclude these leases from the recognition requirements under Topic 842, and these leases have not been included in our recognized ROU assets and lease liabilities.

The components of lease expense were as follows:

	Year Ended December 31, 2019
Lease expense
Operating lease expense	$	30,991
Finance lease expense:
Amortization of ROU assets	382
Interest on lease liabilities	76
Short-term lease expense	26,843
Total lease expense	$	58,292

For the years ended December 31, 2018 and 2017, total rent expense incurred under operating leases was approximately $52,900 and $49,400, respectively.

Other information related to leases was as follows:

	Year Ended December 31, 2019
Supplemental Cash Flows Information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	25,272
Operating cash flows from finance leases	76
Financing cash flows from finance leases	306
ROU assets obtained in exchange for lease obligations:
Operating leases	$	17,078
Finance leases	$	7,434
Weighted-average remaining lease term (in years):
Operating leases	5.1
Finance leases	6.7
Weighted-average discount rate:
Operating leases	3.6		%
Finance leases	2.8		%

We are committed under multiple non-cancelable operating leases involving office space, model homes, production facilities, automobiles and equipment. Future minimum lease payments under these operating leases as of December 31, 2019 are as follows:

Year Ending December 31,	Operating Leases			Finance Leases
2020	$	30,670		$	996
2021	20,865			997
2022	16,640			996
2023	13,082			997
2024	8,016			997
Thereafter	9,911			2,936
Total minimum lease payments	99,184			7,919
Less:
Imputed interest	(7,857		)	(791		)
Short-term lease payments	(5,950		)	—
Total lease liability	$	85,377		$	7,128