Owned Inventory (Tables)

9 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

Schedule of inventory

The components of our owned inventory are as follows as of June 30, 2022 and September 30, 2021:

in thousands	June 30, 2022		September 30, 2021
Homes under construction	$	976,590	$	648,283
Land under development	659,057		648,404
Land held for future development	19,879		19,879
Land held for sale	13,598		9,179
Capitalized interest	115,735		106,985
Model homes	73,992		68,872
Total owned inventory	$	1,858,851	$	1,501,602

Schedule of total owned inventory, by segment

Total owned inventory by reportable segment is presented in the table below as of June 30, 2022 and September 30, 2021:

in thousands	Projects in Progress (a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
June 30, 2022
West	$	977,567	$	3,483	$	12,922	$	993,972
East	340,673		10,888		—		351,561
Southeast	327,156		5,508		676		333,340
Corporate and unallocated (b)	179,978		—		—		179,978
Total	$	1,825,374	$	19,879	$	13,598	$	1,858,851
September 30, 2021
West	$	781,036	$	3,483	$	4,478	$	788,997
East	264,991		10,888		584		276,463
Southeast	269,738		5,508		4,117		279,363
Corporate and unallocated (b)	156,779		—		—		156,779
Total	$	1,472,544	$	19,879	$	9,179	$	1,501,602

(a) Projects in progress include homes under construction, land under development, 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	2022		2021		2022		2021
Land Held for Sale:
West	$	—	$	—	$	440	$	—
Total impairment charges on land held for sale	$	—	$	—	$	440	$	—
Abandonments:
West	$	—	$	—	$	12	$	—
East	—				—		465
Southeast	—		231		483		231
Total abandonments charges	$	—	$	231	$	495	$	696
Total impairment and abandonment charges	$	—	$	231	$	935	$	696

Summary of interests in lot option agreements

The following table provides a summary of our interests in lot option agreements as of June 30, 2022 and September 30, 2021:

in thousands	Deposits & Non-refundable Pre-acquisition Costs Incurred (a)		Remaining Obligation, Net of Deposits
As of June 30, 2022
Unconsolidated lot option agreements	$	137,357	$	819,072
As of September 30, 2021
Unconsolidated lot option agreements	$	114,688	$	676,149

(a) Amount is included as a component of land under development within our owned inventory in the condensed consolidated balance sheet.