XML 24 R16.htm IDEA: XBRL DOCUMENT

Land and Development

9 Months Ended

Sep. 30, 2022

Note 6—Land and Development

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


	As of
	September 30,		December 31,
	2022		2021
Land and land development, at cost	$	259,732	$	297,621
Less: accumulated depreciation		(11,486)		(10,811)
Total land and development, net	$	248,246	$	286,810

Dispositions—During the nine months ended September 30, 2022 and 2021, the Company sold land parcels and residential lots and units and recognized land development revenue of $54.4 million and $157.9 million, respectively. During the nine months ended September 30, 2022 and 2021, the Company recognized land development cost of sales of $55.4 million and $147.5 million, respectively, from its land and development portfolio.