Product Warranties

6 Months Ended

Jun. 30, 2021

Product Warranties Disclosures [Abstract]

Product Warranties

Product Warranties

We establish warranty and product liability reserves (“Warranty Reserve”) to provide for estimated future expenses as a result of construction and product defects, product recalls and litigation incidental to our homebuilding business.  Liability estimates are determined based on management’s judgment, considering such factors as historical experience, the estimated current cost of corrective action, manufacturers’ and subcontractors’ participation in sharing the cost of corrective action, consultations with third party experts such as engineers, and discussions with our general counsel and outside counsel retained to handle specific product liability cases.

The following table reflects the changes in our Warranty Reserve during the three and six months ended June 30, 2021 and 2020:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Warranty reserve, beginning of period	$	124,836	$	107,032	$	119,638	$	108,053
Provision	21,760		15,677		44,089		28,098
Payments	(19,094)		(11,490)		(36,225)		(24,932)
Warranty reserve, end of period	$	127,502	$	111,219	$	127,502	$	111,219