Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2023

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


	September 30, 2023		September 30, 2022
in thousands
Deposits and non-refundable pre-acquisition costs incurred(a)	$	165,371	$	142,433
Remaining purchase price if lot option agreements are exercised	$	949,447	$	827,600

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

Depreciation is computed on a straight-line basis based on estimated useful lives as follows:


Asset Class						Useful 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, 2023 and 2022:


in thousands	September 30, 2023		September 30, 2022
Model furnishings and sales office improvements	$	24,736	$	22,544
Information systems	25,745		23,074
Furniture, fixtures and office equipment	12,692		11,019
Leasehold improvements	3,026		4,124
Buildings and improvements	1,382		1,671
Property and equipment, gross	67,581		62,432
Less: Accumulated depreciation	(36,437)		(37,866)
Property and equipment, net	$	31,144	$	24,566

The following table presents our total revenue disaggregated by revenue stream:

(a) Please see Note 17 for total revenue disaggregated by reportable segment.