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BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Property and Equipment, net | At December 31, 2019 and 2018, property and equipment, net consisted of the following (in thousands):
|  | At December 31, |  |
|  | 2019 |  | 2018
Computer and office equipment |  | $ | 57,162 |  |  | $ | 50,197 |
Model home furnishings and capitalized sales office costs |  | 86,047 |  |  | 87,768 |
Gross property and equipment |  | 143,209 |  |  | 137,965 |
Accumulated depreciation |  | (92,603) |  |  | (83,369) |
Total |  | $ | 50,606 |  |  | $ | 54,596 |
Schedule of Accrued Liabilities | Accrued liabilities at December 31, 2019 and 2018 consisted of the following (in thousands):
|  | At December 31, |  |
|  | 2019 |  | 2018
Accruals related to real estate development and construction activities |  | $ | 74,448 |  |  | $ | 54,589 |
Payroll and other benefits |  | 67,734 |  |  | 60,209 |
Accrued interest |  | 8,758 |  |  | 13,296 |
Accrued taxes |  | 8,459 |  |  | 7,548 |
Warranty reserves |  | 22,015 |  |  | 24,552 |
Lease liability (1) |  | 34,231 |  |  | — |
Other accruals |  | 10,363 |  |  | 17,668 |
Total |  | $ | 226,008 |  |  | $ | 177,862 |
Schedule of Surety Bond and Letter of Credit Obligations | The table below outlines our surety bond and letter of credit obligations (in thousands):
|  | At December 31, |  |  |  |  |  |
|  | 2019 |  |  |  | 2018 |  |
|  | Outstanding |  | Estimated work remaining to complete (unaudited) |  | Outstanding |  | Estimated work remaining to complete (unaudited)
Sureties: |  |  |  |  |  |  |  |
Sureties related to owned projects and lots under contract |  | 405,017 |  |  | 186,986 |  |  | 339,221 |  |  | 133,662 |
Total Sureties |  | $ | 405,017 |  |  | $ | 186,986 |  |  | $ | 339,221 |  |  | $ | 133,662 |
Letters of Credit (“LOCs”): |  |  |  |  |  |  |  |
LOCs for land development |  | 57,192 |  |  | N/A |  | 70,287 |  |  | N/A
LOCs for general corporate operations |  | 3,750 |  |  | N/A |  | 3,750 |  |  | N/A
Total LOCs |  | $ | 60,942 |  |  | N/A |  | $ | 74,037 |  |  | N/A
Summary of Changes in Warranty Reserves | A summary of changes in our warranty reserves follows (in thousands):
|  | Years Ended December 31, |  |
|  | 2019 |  | 2018
Balance, beginning of year |  | $ | 24,552 |  |  | $ | 23,328 |
Additions to reserve from new home deliveries |  | 15,841 |  |  | 15,906 |
Warranty claims |  | (18,378) |  |  | (14,682) |
Adjustments to pre-existing reserves |  | — |  |  | — |
Balance, end of year |  | $ | 22,015 |  |  | $ | 24,552 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + 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://fasb.org/us-gaap/role/ref/legacyRef -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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