Owned Inventory (Tables)

9 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Schedule of inventory

The components of our owned inventory are as follows as of June 30, 2023 and September 30, 2022:

in thousands	June 30, 2023		September 30, 2022
Homes under construction	$	719,231	$	785,742
Land under development	785,752		731,190
Land held for future development	19,879		19,879
Land held for sale	16,764		15,674
Capitalized interest	114,409		109,088
Model homes	85,616		76,292
Total owned inventory	$	1,741,651	$	1,737,865

Schedule of total owned inventory, by segment

Total owned inventory by reportable segment is presented in the table below as of June 30, 2023 and September 30, 2022:

in thousands	Projects in Progress(a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
June 30, 2023
West	$	889,585	$	3,483	$	16,088	$	909,156
East	339,573		10,888		—		350,461
Southeast	293,706		5,508		676		299,890
Corporate and unallocated(b)	182,144		—		—		182,144
Total	$	1,705,008	$	19,879	$	16,764	$	1,741,651
September 30, 2022
West	$	934,309	$	3,483	$	14,998	$	952,790
East	313,613		10,888		—		324,501
Southeast	284,424		5,508		676		290,608
Corporate and unallocated(b)	169,966		—		—		169,966
Total	$	1,702,312	$	19,879	$	15,674	$	1,737,865

(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	2023		2022		2023		2022
Land Held for Sale:
West	$	—	$	—	$	—	$	440
Total impairment charges on land held for sale	$	—	$	—	$	—	$	440
Abandonments:
West	$	315	$	—	$	462	$	12
East	—		—		154		—
Southeast	—		—		—		483
Total abandonments charges	$	315	$	—	$	616	$	495
Total impairments and abandonment charges	$	315	$	—	$	616	$	935

Summary of interests in lot option agreements

The following table provides a summary of our interests in lot option agreements as of June 30, 2023 and September 30, 2022:

	June 30, 2023		September 30, 2022
in thousands
Deposits and non-refundable pre-acquisition costs incurred(a)	$	144,746	$	142,433
Remaining purchase price if lot option agreements are exercised	$	747,900	$	827,600

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