Inventory (Tables)

9 Months Ended

Jun. 30, 2020

The components of our owned inventory are as follows as of June 30, 2020 and September 30, 2019:


in thousands	June 30, 2020		September 30, 2019
Homes under construction	$	607,731	$	507,542
Development projects in progress	647,583		738,201
Land held for future development	28,531		28,531
Land held for sale	16,863		12,662
Capitalized interest	132,096		136,565
Model homes	78,756		80,747
Total owned inventory	$	1,511,560	$	1,504,248

Schedule of total owned inventory, by segment

Total owned inventory by reportable segment is presented in the table below as of June 30, 2020 and September 30, 2019:


in thousands	Projects in Progress ^(a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
June 30, 2020
West Segment	$	687,707	$	3,483	$	6,048	$	697,238
East Segment	284,821		14,077		3,377		302,275
Southeast Segment	301,670		10,971		7,438		320,079
Corporate and unallocated ^(b)	191,968		—		—		191,968
Total	$	1,466,166	$	28,531	$	16,863	$	1,511,560
September 30, 2019
West Segment	$	723,094	$	3,483	$	5,160	$	731,737
East Segment	228,937		14,077		4,104		247,118
Southeast Segment	318,737		10,971		3,398		333,106
Corporate and unallocated ^(b)	192,287		—		—		192,287
Total	$	1,463,055	$	28,531	$	12,662	$	1,504,248

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

(b) Projects in progress amount includes capitalized interest and indirect costs that are maintained within our Corporate and unallocated segment.

Schedule of inventory impairments and lot option abandonment charges

The following table presents, by reportable segment, our total impairment and abandonment charges for the periods presented:


	Three Months Ended June 30,						Nine Months Ended June 30,
in thousands	2020		2019		2020		2019
Projects in Progress:
West	$	—	$	—	$	—	$	92,912

Southeast	—		—		—		858
Corporate and unallocated ^(a)	—		—		—		16,260
Total impairment charges on projects in progress	$	—	$	—	$	—	$	110,030
Land Held for Sale:
West	$	89	$	—	$	89	$	37,963

Southeast	8		—		8		—
Corporate and unallocated ^(a)	1,160		—		1,160		625
Total impairment charges on land held for sale	$	1,257	$	—	$	1,257	$	38,588
Abandonments:
West	$	452	$	—	$	452	$	—
East	32		—		32		—
Southeast	525		—		525		—

Total abandonments charges	$	1,009	$	—	$	1,009	$	—






Total impairment and abandonment charges	$	2,266	$	—	$	2,266	$	148,618

^(a)Amount represents capitalized interest and indirects balance that was impaired. Capitalized interest and indirects are maintained within our Corporate and unallocated segment.

Summary of interests in lot option agreements

The following table provides a summary of our interests in lot option agreements as of June 30, 2020 and September 30, 2019:


in thousands	Deposits & Non-refundable Pre-acquisition Costs Incurred		Remaining Obligation
As of June 30, 2020


Unconsolidated lot option agreements	$	69,341	$	384,892

As of September 30, 2019


Unconsolidated lot option agreements	$	78,202	$	389,705