Inventory (Tables)

9 Months Ended

Jun. 30, 2021

The components of our owned inventory are as follows as of June 30, 2021 and September 30, 2020:


in thousands	June 30, 2021		September 30, 2020
Homes under construction	$	668,280	$	525,021
Development projects in progress	532,929		589,763
Land held for future development	19,879		28,531
Land held for sale	7,173		12,622
Capitalized interest	109,943		119,659
Model homes	69,867		75,142
Total owned inventory	$	1,408,071	$	1,350,738

Schedule of total owned inventory, by segment

Total owned inventory by reportable segment is presented in the table below as of June 30, 2021 and September 30, 2020:


in thousands	Projects in Progress (a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
June 30, 2021
West Segment	$	682,550	$	3,483	$	690	$	686,723
East Segment	263,799		10,888		874		275,561
Southeast Segment	274,310		5,508		5,609		285,427
Corporate and unallocated (b)	160,360		—		—		160,360
Total	$	1,381,019	$	19,879	$	7,173	$	1,408,071
September 30, 2020
West Segment	$	627,986	$	3,483	$	4,516	$	635,985
East Segment	241,799		14,077		3,702		259,578
Southeast Segment	266,905		10,971		4,404		282,280
Corporate and unallocated (b)	172,895		—		—		172,895
Total	$	1,309,585	$	28,531	$	12,622	$	1,350,738

(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 abandonment charges, by reportable segment

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	2021		2020		2021		2020






Land Held for Sale:
West	$	—	$	89	$	—	$	89

Southeast	—		8		—		8
Corporate and unallocated (a)	—		1,160		—		1,160
Total impairment charges on land held for sale	$	—	$	1,257	$	—	$	1,257
Abandonments:
West	$	—	$	452	$	—	$	452
East	—		32		465		32
Southeast	231		525		231		525

Total abandonments charges	$	231	$	1,009	$	696	$	1,009






Total impairment and abandonment charges	$	231	$	2,266	$	696	$	2,266

(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, 2021 and September 30, 2020:


in thousands	Deposits & Non-refundable Pre-acquisition Costs Incurred		Remaining Obligation
As of June 30, 2021


Unconsolidated lot option agreements	$	106,569	$	622,047

As of September 30, 2020


Unconsolidated lot option agreements	$	75,921	$	395,133