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Payables and Accruals | 6 Months Ended
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Jun. 30, 2023
Payables and Accruals [Abstract] |
Accounts Payable and Accrued Liabilities Disclosure | 4. ACCRUED EXPENSES A summary of the Company’s accrued expenses is as follows (in thousands):
|  | June 30, 2023 |  | December 31, 2022
Real estate development reserve to complete(1) |  | $ | 31,685 |  |  | $ | 28,793 |
Warranty reserve |  | 20,824 |  |  | 17,945 |
Federal income tax payable |  | 5,613 |  |  | 6,334 |
Accrued compensation |  | 10,235 |  |  | 13,917 |
Other accrued expenses |  | 33,107 |  |  | 24,292 |
Total accrued expenses |  | $ | 101,464 |  |  | $ | 91,281 |
(1)Our real estate development reserve to complete consists of estimated future costs to complete the development of our communities. Warranties Warranty accruals are included within accrued expenses on the condensed consolidated balance sheets. Warranty activity during the three and six months ended June 30, 2023 and 2022 consisted of the following (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Warranty accrual, beginning of period | $ | 19,532 |  |  | $ | 10,613 |  |  | $ | 17,945 |  |  | $ | 9,378 |
Warranties issued | 2,876 |  |  | 2,397 |  |  | 4,921 |  |  | 4,211 |
Changes in liability for existing warranties | (82) |  |  | 121 |  |  | 551 |  |  | 416 |
Settlements made | (1,502) |  |  | (1,066) |  |  | (2,593) |  |  | (1,940) |
Warranty accrual, end of period | $ | 20,824 |  |  | $ | 12,065 |  |  | $ | 20,824 |  |  | $ | 12,065 |

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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- References No definition available. + Details
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