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BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Property and Equipment, net

At December 31, 2020 and 2019, property and equipment, net consisted of the following (in thousands):

						At December 31,
						2020						2019
Computer and office equipment						$	59,407					$	57,162
Model home furnishings and capitalized sales office costs						76,398						86,047
Gross property and equipment						135,805						143,209
Accumulated depreciation						(96,872)						(92,603)
Total						$	38,933					$	50,606

Schedule of Accrued Liabilities

Accrued liabilities at December 31, 2020 and 2019 consisted of the following (in thousands):

						At December 31,
						2020						2019
Accruals related to real estate development and construction activities						$	92,701					$	74,448
Payroll and other benefits						88,337						67,734
Accrued interest						8,457						8,758
Accrued taxes						34,373						8,459
Warranty reserves						23,743						22,015
Lease liabilities (1)						28,254						34,231
Other accruals						20,256						10,363
Total						$	296,121					$	226,008

(1)Refer to Note 4 for additional information related to our leases.

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,
						2020												2019
						Outstanding						Estimated work remaining to complete (unaudited)						Outstanding						Estimated work remaining to complete (unaudited)
Sureties:
Sureties related to owned projects and lots under contract						478,788						216,708						405,017						186,986
Total Sureties						$	478,788					$	216,708					$	405,017					$	186,986
Letters of Credit (“LOCs”):
LOCs for land development						93,661						N/A						57,192						N/A
LOCs for general corporate operations						3,750						N/A						3,750						N/A
Total LOCs						$	97,411					N/A						$	60,942					N/A

Summary of Changes in Warranty Reserves

A summary of changes in our warranty reserves follows (in thousands):

						Years Ended December 31,
						2020						2019
Balance, beginning of year						$	22,015					$	24,552
Additions to reserve from new home deliveries						18,503						15,841
Warranty claims						(16,775)						(18,378)
Adjustments to pre-existing reserves						—						—
Balance, end of year						$	23,743					$	22,015

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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.

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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.

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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.

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