XML 44 R29.htm IDEA: XBRL DOCUMENT v3.22.2.2
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2022
Accounting Policies [Abstract]  
Schedule of interests in lot option agreements
The following table provides a summary of our interests in lot option agreements as of September 30, 2022 and 2021:
in thousands
Deposits &
Non-refundable
Pre-acquisition
Costs Incurred(a)
Remaining
Obligation,
Net of Cash
Deposits
As of September 30, 2022
Unconsolidated lot option agreements$142,433 $827,600 
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 consolidated balance sheet.
Schedule of estimated useful lives Depreciation is computed on a straight-line basis based on estimated useful lives as follows:
 
Asset ClassUseful Lives
Buildings and improvements 
25 - 30 years
Information systems 
Lesser of estimated useful life of the asset or 5 years
Furniture, fixtures and computer and office equipment 
3 - 7 years
Model and sales office improvements Lesser of estimated useful life of the asset or estimated life of the community
Leasehold improvements Lesser of the lease term or the estimated useful life of the asset
The following table presents our property and equipment as of September 30, 2022 and 2021:
in thousandsSeptember 30, 2022September 30, 2021
Model furnishings and sales office improvements$22,544 $19,617 
Information systems23,074 18,628 
Furniture, fixtures and office equipment11,019 10,613 
Leasehold improvements4,124 4,279 
Buildings and improvements1,671 1,671 
Property and equipment, gross62,432 54,808 
Less: Accumulated depreciation(37,866)(31,923)
Property and equipment, net$24,566 $22,885 
Schedule of revenue recognition
The following table presents our total revenue disaggregated by revenue stream:
Fiscal Year Ended
September 30,
in thousands202220212020
Homebuilding revenue$2,302,520 $2,127,700 $2,116,910 
Land sales and other revenue14,468 12,603 10,167 
Total revenue(a)
$2,316,988 $2,140,303 $2,127,077 
(a) Please see Note 18 for total revenue disaggregated by reportable segment.