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BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Property and Equipment, net

At December 31, 2024 and 2023, property and equipment, net consisted of the following (in thousands):

						At December 31,
						2024						2023
Computer and office equipment						$	59,433					$	62,682
Model home furnishings and capitalized sales office costs						57,149						60,043
Gross property and equipment						116,582						122,725
Accumulated depreciation						(69,297)						(73,772)
Total						$	47,285					$	48,953

Schedule of Accrued Liabilities

Accrued liabilities at December 31, 2024 and 2023 consisted of the following (in thousands):

						At December 31,
						2024						2023
Accruals related to real estate development and construction activities						$	167,075					$	137,489
Payroll and other benefits						131,733						140,734
Accrued interest						6,290						6,331
Accrued taxes						24,478						25,569
Warranty reserves						32,693						37,360
Lease liabilities (1)						55,825						54,040
Other accruals						34,119						23,241
Total						$	452,213					$	424,764

(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,
						2024												2023
						Outstanding						Estimated work remaining to complete (unaudited)						Outstanding						Estimated work remaining to complete (unaudited)
Sureties:
Sureties related to owned projects and lots under contract						1,056,529						712,415						975,979						712,421
Total Sureties						$	1,056,529					$	712,415					$	975,979					$	712,421
Letters of Credit (“LOCs”):
LOCs for land development						105,371						N/A						56,251						N/A
LOCs for general corporate operations						5,000						N/A						5,000						N/A
Total LOCs						$	110,371					N/A						$	61,251					N/A

Summary of Changes in Warranty Reserves

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

						Years Ended December 31,
						2024						2023
Balance, beginning of year						$	37,360					$	35,575
Additions to reserve from new home deliveries						21,820						22,713
Warranty claims						(25,444)						(20,928)
Adjustments to pre-existing reserves						(1,043)						—
Balance, end of year						$	32,693					$	37,360

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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.

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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.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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