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ORGANIZATION AND BASIS OF PRESENTATION (Tables) | 9 Months Ended
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Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Surety Bond and Letter of Credit Obligations | The table below outlines our surety bond and letter of credit obligations (in thousands):
| As of
| September 30, 2017 |  | December 31, 2016
| Outstanding |  | Estimated work remaining to complete |  | Outstanding |  | Estimated work remaining to complete
Sureties: |  |  |  |  |  |  |
Sureties related to owned projects and lots under contract | $ | 278,779 |  |  | $ | 123,970 |  |  | $ | 239,246 |  |  | $ | 85,706 |
Total Sureties | $ | 278,779 |  |  | $ | 123,970 |  |  | $ | 239,246 |  |  | $ | 85,706 |
Letters of Credit (“LOCs”): |  |  |  |  |  |  |
LOCs in lieu of deposits for contracted lots | $ | 250 |  |  | N/A |  |  | $ | 250 |  |  | N/A |
LOCs for land development | 62,497 |  |  | N/A |  |  | 39,839 |  |  | N/A |
LOCs for general corporate operations | 3,750 |  |  | N/A |  |  | 3,750 |  |  | N/A |
Total LOCs | $ | 66,497 |  |  | N/A |  |  | $ | 43,839 |  |  | N/A |
Schedule of Accrued Liabilities | Accrued liabilities at September 30, 2017 and December 31, 2016 consisted of the following (in thousands):
|  | As of
|  | September 30, 2017 |  | December 31, 2016
Accruals related to real estate development and construction activities |  | $ | 63,227 |  |  | $ | 53,778 |
Payroll and other benefits |  | 46,922 |  |  | 52,941 |
Accrued interest |  | 30,722 |  |  | 15,017 |
Accrued taxes |  | 11,847 |  |  | 9,637 |
Warranty reserves |  | 24,432 |  |  | 22,660 |
Legal reserves (1) |  | 600 |  |  | 673 |
Other accruals |  | 15,352 |  |  | 16,146 |
Total |  | $ | 193,102 |  |  | $ | 170,852 |
(1) | See Note 15 for additional information related to our legal reserves.
Summary of Changes in Warranty Reserves | A summary of changes in our warranty reserves follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Balance, beginning of period | $ | 23,620 |  |  | $ | 22,699 |  |  | $ | 22,660 |  |  | $ | 21,615 |
Additions to reserve from new home deliveries | 4,366 |  |  | 4,110 |  |  | 12,491 |  |  | 12,068 |
Warranty claims | (3,554 | ) |  | (4,843 | ) |  | (10,719 | ) |  | (11,442 | )
Adjustments to pre-existing reserves | — |  |  | — |  |  | — |  |  | (275 | )
Balance, end of period | $ | 24,432 |  |  | $ | 21,966 |  |  | $ | 24,432 |  |  | $ | 21,966 |

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- Definition The tabular disclosure of the Company's other off-balance sheet financing arrangements including a detailed description of the letters of credit and surety bond obligations. + References No definition available. + Details
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- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249 + Details
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