Inventory (Tables)

3 Months Ended

Dec. 31, 2015

The components of our owned inventory are as follows as of December 31, 2015 and September 30, 2015:



(In thousands)	December 31, 2015		September 30, 2015
Homes under construction	$	386,409	$	377,281
Development projects in progress	808,223		809,900
Land held for future development	271,321		270,990
Land held for sale	54,546		44,555
Capitalized interest	132,462		123,457
Model homes	76,976		71,407
Total owned inventory	$	1,729,937	$	1,697,590

Schedule of Total Owned Inventory, by Segment

Total owned inventory, by reportable segment, is presented in the table below as of December 31, 2015 and September 30, 2015:



(In thousands)	Projects in Progress ^(a)			Land Held for Future Development		Land Held for Sale		Total Owned Inventory
December 31, 2015
West Segment	$	598,776		$	231,119	$	6,571	$	836,466
East Segment	349,678			29,280		30,279		409,237
Southeast Segment	274,772			10,922		16,597		302,291
Corporate and unallocated	180,844		^(b)	—		1,099		181,943
Total	$	1,404,070		$	271,321	$	54,546	$	1,729,937
September 30, 2015
West Segment	$	583,210		$	230,778	$	6,941	$	820,929
East Segment	353,054			29,280		30,927		413,261
Southeast Segment	277,351			10,932		5,587		293,870
Corporate and unallocated	168,430		^(b)	—		1,100		169,530
Total	$	1,382,045		$	270,990	$	44,555	$	1,697,590

^(a)Projects in progress include homes under construction, development projects in progress, capitalized interest and model home categories from the preceding table.

^(b)Includes capitalized interest and indirect costs that are maintained within Corporate and unallocated.

Schedule of Inventory Impairments and Lot Option Abandonment Charges, by Reportable Homebuilding Segment

The following table presents, by reportable homebuilding segment, our land held for sale inventory impairments and abandonment charges for the three months ended December 31, 2015:




	Three Months Ended December 31,
(In thousands)	2015
Land Held for Sale:
East	$	197
Southeast	371
Total impairment charges on land held for sale	$	568
Abandonments:
Southeast	$	788
Total impairment and abandonment charges	$	1,356

Summary of Interests in Lot Option Agreements

The following table provides a summary of our interests in lot option agreements as of December 31, 2015 and September 30, 2015:



(In thousands)	Deposits & Non-refundable Pre-acquisition Costs Incurred		Remaining Obligation
As of December 31, 2015
Unconsolidated lot option agreements	$	65,552	$	421,098
As of September 30, 2015
Unconsolidated lot option agreements	$	51,475	$	420,070