XML 24 R16.htm IDEA: XBRL DOCUMENT

Land and Development

6 Months Ended

Jun. 30, 2022

Note 6—Land and Development

The Company’s land and development assets were comprised of the following ($ in thousands):


	As of
	June 30,		December 31,
	2022		2021
Land and land development, at cost	$	270,978	$	297,621
Less: accumulated depreciation		(11,260)		(10,811)
Total land and development, net	$	259,718	$	286,810

Dispositions—During the six months ended June 30, 2022 and 2021, the Company sold land parcels and residential lots and units and recognized land development revenue of $39.3 million and $64.6 million, respectively. During the six months ended June 30, 2022 and 2021, the Company recognized land development cost of sales of $38.6 million and $60.1 million, respectively, from its land and development portfolio.