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Product Warranties | 9 Months Ended
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Sep. 30, 2020
Product Warranties Disclosures [Abstract] |
Product Warranties | Product Warranties We establish warranty and product liability reserves (“Warranty Reserve”) to provide for estimated future expenses as a result of construction and product defects, product recalls and litigation incidental to our homebuilding business. Liability estimates are determined based on management’s judgment, considering such factors as historical experience, the estimated current cost of corrective action, manufacturers’ and subcontractors’ participation in sharing the cost of corrective action, consultations with third party experts such as engineers, and discussions with our general counsel and outside counsel retained to handle specific product liability cases. The following table reflects the changes in our Warranty Reserve during the three and nine months ended September 30, 2020 and 2019:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Warranty reserve, beginning of period |  | $ | 111,219 |  |  | $ | 100,659 |  |  | $ | 108,053 |  |  | $ | 103,700 |
Provision |  | 20,894 |  |  | 20,217 |  |  | 48,992 |  |  | 48,486 |
Payments |  | (18,564) |  |  | (17,205) |  |  | (43,496) |  |  | (48,515) |
Warranty reserve, end of period |  | $ | 113,549 |  |  | $ | 103,671 |  |  | $ | 113,549 |  |  | $ | 103,671 |

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- Definition The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -URI http://asc.fasb.org/topic&trid=2155896 + Details
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