XML 60 R43.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022
Income Tax Disclosure [Abstract] |  |  |
Income Taxes | INCOME TAXES Income Tax Expense The components of current and deferred income tax expense are as follows (in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Current income tax expense: |  |  |  |  |
Federal | $ | 85,062 |  |  | $ | 73,299 |  |  | $ | 73,747 |
State | 8,342 |  |  | 10,197 |  |  | 9,428 |
Total current income tax expense | 93,404 |  |  | 83,496 |  |  | 83,175 |
Deferred income tax expense (benefit): |  |  |  |  |
Federal | 1,192 |  |  | 993 |  |  | (630) |
State | 129 |  |  | 149 |  |  | (77) |
Total deferred income tax expense (benefit) | 1,321 |  |  | 1,142 |  |  | (707) |
Total income tax expense | $ | 94,725 |  |  | $ | 84,638 |  |  | $ | 82,468 |
Effective Income Tax Rate Reconciliation The income tax expense differs from the amount that would be computed by applying the statutory federal income tax rates of 21% for each of the years ended December 31, 2024, 2023 and 2022, respectively, to income before income taxes as a result of the following (amounts in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Tax on pre-tax book income (before reduction of noncontrolling interests) | $ | 107,494 |  |  | $ | 82,176 |  |  | $ | 83,258 |
Tax effect of non-controlled earnings | (7,470) |  |  | (4,630) |  |  | (4,640) |
State income tax expense, net of federal benefit | 8,286 |  |  | 8,220 |  |  | 7,353 |
Tax credits | (10,920) |  |  | (3,033) |  |  | (5,861) |
Other | (2,665) |  |  | 1,905 |  |  | 2,358 |
Total income tax expense | $ | 94,725 |  |  | $ | 84,638 |  |  | $ | 82,468 |
Effective income tax rate | 18.5 | % |  | 21.6 | % |  | 20.8 | %
The change in the effective tax rate for year ended December 31, 2024 relates primarily to an income tax benefit for purchasing investment tax credits at a discount and energy efficient homes credits as well as an increase in non-controlled earnings. Deferred Income Taxes The primary differences between the financial statement and tax bases of assets and liabilities are as follows (in thousands):
| December 31, 2024 |  | December 31, 2023
Deferred tax assets: |  |  |
Basis in partnerships | $ | 2,700 |  |  | $ | 3,193 |
Accrued expenses | 6,989 |  |  | 7,550 |
Inventory | 2,620 |  |  | 2,740 |
Change in fair value of contingent consideration | 872 |  |  | 996 |
Lease liabilities - operating leases | 1,676 |  |  | 1,797 |
Stock-based compensation | 603 |  |  | 584 |
Other | 381 |  |  | 324 |
Deferred tax assets, gross | 15,841 |  |  | 17,184 |
Valuation allowance | — |  |  | — |
Deferred tax assets, net | $ | 15,841 |  |  | $ | 17,184 |
Deferred tax liabilities: |  |  |
Right-of-use assets - operating leases | $ | (1,479) |  |  | $ | (1,668) |
Prepaid insurance | (106) |  |  | (107) |
Other | (272) |  |  | (103) |
Deferred tax liabilities | $ | (1,857) |  |  | $ | (1,878) |
Total deferred income tax assets, net | $ | 13,984 |  |  | $ | 15,306 |
Uncertain Tax Positions The Company establishes accruals for uncertain tax positions that reflect management’s best estimate of deductions and credits that may not be sustained on a more-likely-than-not basis. In accordance with ASC 740, Income Taxes, the Company recognizes the effect of income tax positions only if those positions have a more-likely-than-not chance of being sustained by the Company. Recognized income tax positions are measured at the largest amount that is considered greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. There were no uncertain tax positions as of December 31, 2024. There were no expenses for interest and penalties related to uncertain tax positions for the years ended December 31, 2024, 2023, and 2022. There were no accrued liabilities related to uncertain tax positions as of December 31, 2024 and 2023, respectively. Statutes of Limitations The U.S. federal statute of limitations remains open for our 2021 and subsequent tax years. The Company and its subsidiaries file returns in Texas, Georgia, Florida and Colorado. The Texas statute of limitations remains open for the 2020 and subsequent tax years. Any adjustments relating to returns filed by the subsidiary partnerships would be borne by the subsidiary partnership entities. The Georgia and Florida statute of limitations remains open for 2021 and subsequent tax years. Any adjustments relating to returns filed by the subsidiary partnerships would be borne by the partner. The Company is not presently under examination by the Internal Revenue Service or state tax authority. |  |
Schedule of Components of Income Tax Expense (Benefit) | Income Tax Expense The components of current and deferred income tax expense are as follows (in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Current income tax expense: |  |  |  |  |
Federal | $ | 85,062 |  |  | $ | 73,299 |  |  | $ | 73,747 |
State | 8,342 |  |  | 10,197 |  |  | 9,428 |
Total current income tax expense | 93,404 |  |  | 83,496 |  |  | 83,175 |
Deferred income tax expense (benefit): |  |  |  |  |
Federal | 1,192 |  |  | 993 |  |  | (630) |
State | 129 |  |  | 149 |  |  | (77) |
Total deferred income tax expense (benefit) | 1,321 |  |  | 1,142 |  |  | (707) |
Total income tax expense | $ | 94,725 |  |  | $ | 84,638 |  |  | $ | 82,468 |
Schedule of Deferred Tax Assets and Liabilities | The primary differences between the financial statement and tax bases of assets and liabilities are as follows (in thousands):
| December 31, 2024 |  | December 31, 2023
Deferred tax assets: |  |  |
Basis in partnerships | $ | 2,700 |  |  | $ | 3,193 |
Accrued expenses | 6,989 |  |  | 7,550 |
Inventory | 2,620 |  |  | 2,740 |
Change in fair value of contingent consideration | 872 |  |  | 996 |
Lease liabilities - operating leases | 1,676 |  |  | 1,797 |
Stock-based compensation | 603 |  |  | 584 |
Other | 381 |  |  | 324 |
Deferred tax assets, gross | 15,841 |  |  | 17,184 |
Valuation allowance | — |  |  | — |
Deferred tax assets, net | $ | 15,841 |  |  | $ | 17,184 |
Deferred tax liabilities: |  |  |
Right-of-use assets - operating leases | $ | (1,479) |  |  | $ | (1,668) |
Prepaid insurance | (106) |  |  | (107) |
Other | (272) |  |  | (103) |
Deferred tax liabilities | $ | (1,857) |  |  | $ | (1,878) |
Total deferred income tax assets, net | $ | 13,984 |  |  | $ | 15,306 |
Schedule of Effective Tax Rate Reconciliation | Effective Income Tax Rate Reconciliation The income tax expense differs from the amount that would be computed by applying the statutory federal income tax rates of 21% for each of the years ended December 31, 2024, 2023 and 2022, respectively, to income before income taxes as a result of the following (amounts in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Tax on pre-tax book income (before reduction of noncontrolling interests) | $ | 107,494 |  |  | $ | 82,176 |  |  | $ | 83,258 |
Tax effect of non-controlled earnings | (7,470) |  |  | (4,630) |  |  | (4,640) |
State income tax expense, net of federal benefit | 8,286 |  |  | 8,220 |  |  | 7,353 |
Tax credits | (10,920) |  |  | (3,033) |  |  | (5,861) |
Other | (2,665) |  |  | 1,905 |  |  | 2,358 |
Total income tax expense | $ | 94,725 |  |  | $ | 84,638 |  |  | $ | 82,468 |
Effective income tax rate | 18.5 | % |  | 21.6 | % |  | 20.8 | %
Operating Loss Carryforwards [Line Items] |  |  |
Basis in partnerships | $ 2,700 | $ 3,193 |
Deferred tax assets | 15,841 | 17,184 |
Deferred Tax Assets, Valuation Allowance | 0 | 0 |
Effective Income Tax Rate Reconciliation, Tax Credit, Amount | $ (10,920) | $ (3,033) | $ (5,861)

X
- Definition Deferred Tax Assets, Basis in Partnership + References No definition available. + Details
Name: | grbk_DeferredTaxAssetsBasisinPartnership
Namespace Prefix: | grbk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_DeferredTaxAssetsGross
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_DeferredTaxAssetsValuationAllowance
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income tax. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477891/740-270-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-13 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/740/tableOfContent Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-14 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-21 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-17 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482603/740-30-50-2 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to tax credits. Including, but not limited to, research credit, foreign tax credit, investment tax credit, and other tax credits. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Subparagraph (a)(5) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_IncomeTaxReconciliationTaxCredits
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-3 + Details
Name: | us-gaap_OperatingLossCarryforwardsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration