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Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023
--- | --- | ---
ASSETS |  |
Contract land deposits, net | $ 609,407 | $ 576,551
Total assets | 6,538,157 | 6,601,757
Inventory: |  |
Land under development | 59,050 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |
Total liabilities | 2,193,776 | 2,237,032
Commitments and contingencies |  |
Shareholders' equity: |  |
Common stock, $0.01 par value; 60,000,000 shares authorized; 20,555,330 shares issued as of both March 31, 2024 and December 31, 2023 | 206 | 206
Additional paid-in capital | 2,905,707 | 2,848,528
Deferred compensation trust – 106,697 shares of NVR, Inc. common stock as of both March 31, 2024 and December 31, 2023 | (16,710) | (16,710)
Deferred compensation liability | 16,710 | 16,710
Retained earnings | 13,759,294 | 13,365,025
Less treasury stock at cost – 17,387,705 and 17,360,454 shares as of March 31, 2024 and December 31, 2023, respectively | (12,320,826) | (11,849,034)
Total shareholders' equity | 4,344,381 | 4,364,725
Total liabilities and shareholders' equity | 6,538,157 | 6,601,757
Home Building Segment |  |
ASSETS |  |
Cash and cash equivalents | 2,841,354 | 3,126,472
Restricted cash | 44,099 | 41,483
Receivables | 36,306 | 29,000
Contract land deposits, net | 609,407 | 576,551
Property, plant and equipment, net | 63,095 | 63,716
Operating lease right-of-use assets | 66,716 | 70,384
Goodwill | 41,580 | 41,580
Other assets | 249,390 | 242,751
Total assets | 6,068,981 | 6,142,087
Inventory: |  |
Lots and housing units, covered under sales agreements with customers | 1,790,687 | 1,674,686
Unsold lots and housing units | 245,262 | 214,666
Land under development | 59,050 | 36,895
Building materials and other | 22,035 | 23,903
Total Inventory | 2,117,034 | 1,950,150
LIABILITIES AND SHAREHOLDERS' EQUITY |  |
Accounts payable | 391,591 | 347,738
Accrued expenses and other liabilities | 380,811 | 413,043
Customer deposits | 355,331 | 334,441
Operating lease liabilities | 72,052 | 75,797
Senior notes | 912,554 | 913,027
Total liabilities | 2,112,339 | 2,084,046
Mortgage Banking |  |
ASSETS |  |
Cash and cash equivalents | 27,803 | 36,422
Restricted cash | 11,537 | 11,067
Mortgage loans held for sale, net | 332,510 | 222,560
Property, plant and equipment, net | 7,438 | 6,348
Operating lease right-of-use assets | 22,008 | 23,541
Goodwill | 7,347 | 7,347
Other assets | 60,533 | 152,385
Total assets | 469,176 | 459,670
LIABILITIES AND SHAREHOLDERS' EQUITY |  |
Operating lease liabilities | 24,037 | 25,475
Accounts payable and other liabilities | 57,400 | 127,511
Total liabilities | $ 81,437 | $ 152,986

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- Definition The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481520/505-30-50-4 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481549/505-30-45-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29,30) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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