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Business acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Recognized Identified Assets Acquired and Liabilities Assumed | The final purchase price allocation is as follows:
|  | Purchase Price Allocation
Inventories |  | $ | 10,478,116 |
Lot deposits |  | 3,055,500 |
Property and equipment, net |  | 20,000 |
Intangible assets |  | 442,000 |
Goodwill |  | 3,573,040 |
Liabilities |  | (4,825,761) |
Total purchase price |  | $ | 12,742,895 |
The final purchase price allocation is as follows:
|  | Purchase Price Allocation
Cash acquired |  | $ | 543,421 |
Inventories |  | 23,672,172 |
Lot deposits |  | 912,220 |
Other assets |  | 58,681 |
Property and equipment, net |  | 703,872 |
Intangible assets |  | 1,380,000 |
Goodwill |  | 5,206,636 |
Liabilities |  | (7,795,054) |
Total purchase price |  | $ | 24,681,948 |
Pro Forma Information | The following unaudited pro forma consolidated results of operations are provided for illustrative purposes only and have been presented as if the Creekside acquisition had occurred on January 1, 2023. The disclosure of Rosewood and Herring Homes is included for comparative purposes and reflects revenue and net income balances as if the acquisitions closed on January 1, 2022. Unaudited pro forma net income adjusts the operating results of the stated acquisitions to reflect the additional costs that would have been recorded assuming the fair value adjustments had been applied as of the beginning of the year preceding the year of acquisition, including the tax-effected amortization of the inventory step-up and transaction costs. This unaudited pro forma information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisition had occurred on that date, nor of the results that may be obtained in the future.
| Year Ended December 31,
Unaudited Pro Forma | 2024 |  | 2023
Revenue | $ | 465,013,122 |  |  | $ | 485,929,400 |
Net income | $ | 47,981,318 |  |  | $ | 127,115,590 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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