Century Communities (CCS) 10-Q 27 Apr 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 22, 2022
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-36491
Entity Registrant Name	Century Communities, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	68-0521411
Entity Address, Address Line One	8390 East Crescent Parkway
Entity Address, Address Line Two	Suite 650
Entity Address, City or Town	Greenwood Village
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80111
City Area Code	303
Local Phone Number	770-8300
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	CCS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,924,190
Entity Central Index Key	0001576940

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 209,046	$ 316,310
Cash held in escrow	45,212	52,297
Accounts receivable	46,038	41,932
Inventories	2,680,195	2,456,614
Mortgage loans held for sale	198,985	353,063
Prepaid expenses and other assets	236,567	200,087
Property and equipment, net	27,791	24,939
Deferred tax assets, net	21,272	21,239
Goodwill	30,395	30,395
Total assets	3,495,501	3,496,876
Liabilities:
Accounts payable	91,520	84,679
Accrued expenses and other liabilities	370,130	316,877
Notes payable	1,010,961	998,936
Revolving line of credit
Mortgage repurchase facilities	193,028	331,876
Total liabilities	1,665,639	1,732,368
Stockholders' equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none outstanding
Common stock, $0.01 par value, 100,000,000 shares authorized, 33,038,361 and 33,760,940 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	330	338
Additional paid-in capital	627,447	697,845
Retained earnings	1,202,085	1,066,325
Total stockholders' equity	1,829,862	1,764,508
Total liabilities and stockholders' equity	$ 3,495,501	$ 3,496,876

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheets [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock shares authorized	50,000,000	50,000,000
Preferred stock shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock shares authorized	100,000,000	100,000,000
Common stock shares issued	33,038,361	33,760,940
Common stock shares outstanding	33,038,361	33,760,940

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Total revenues	$ 1,016,350	$ 1,008,569
Selling, general and administrative	(101,639)	(92,151)
Other income (expense)	(862)	(541)
Income before income tax expense	188,776	131,049
Income tax expense	(46,280)	(29,397)
Net income	$ 142,496	$ 101,652
Earnings per share:
Basic	$ 4.25	$ 3.03
Diluted	$ 4.20	$ 3
Weighted average common shares outstanding:
Basic	33,530,610	33,563,903
Diluted	33,942,234	33,884,275
Homebuilding [Member]
Revenues
Total revenues	$ 990,045	$ 974,949
Cost of revenues	(709,919)	(766,527)
Home Sales [Member]
Revenues
Total revenues	988,415	959,279
Cost of revenues	(709,073)	(756,507)
Land Sales And Other [Member]
Revenues
Total revenues	1,630	15,670
Cost of revenues	(846)	(10,020)
Financial Services [Member]
Revenues
Total revenues	26,305	33,620
Cost of revenues	$ (15,154)	$ (18,301)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net income	$ 142,496	$ 101,652
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,606	2,806
Stock-based compensation expense	4,064	3,019
Fair value of mortgage loans held for sale and other	4,443	(15)
Deferred income taxes	(33)	(2,763)
Loss on disposition of assets	384	329
Changes in assets and liabilities:
Cash held in escrow	7,085	(31,071)
Accounts receivable	3,669	(3,075)
Inventories	(193,451)	63,586
Mortgage loans held for sale	144,361	(25,662)
Prepaid expenses and other assets	(28,084)	(14,900)
Accounts payable	8,720	(23,533)
Accrued expenses and other liabilities	13,173	25,747
Net cash provided by operating activities	109,433	96,120
Investing activities
Purchases of property and equipment	(5,841)	(2,913)
Other investing activities	750	27
Net cash used in investing activities	(5,091)	(2,886)
Financing activities
Borrowings under revolving credit facilities	141,500
Payments on revolving credit facilities	(141,500)
Proceeds from issuance of insurance premium notes and other	16,863	4,124
Principal payments on insurance premium notes and other	(5,235)	(1,602)
Net (payments) proceeds for mortgage repurchase facilities	(138,848)	26,000
Withholding of common stock upon vesting of stock-based compensation awards	(12,138)	(12,177)
Repurchases of common stock under stock repurchase program	(62,377)
Dividend payments	(6,657)
Other	(34)	(30)
Net cash (used in) provided by financing activities	(208,426)	16,315
Net (decrease) increase	(104,084)	109,549
Cash and cash equivalents and Restricted cash, Beginning of period	322,241	398,081
Cash and cash equivalents and Restricted cash, End of period	218,157	507,630
Supplemental cash flow disclosure
Income tax expense	(893)	10
Cash and cash equivalents and Restricted cash
Cash and cash equivalents	209,046	502,906
Restricted cash (Note 5)	$ 9,111	$ 4,724

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Dec. 31, 2020	$ 334	$ 697,200	$ 583,171	$ 1,280,705
Beginning balance, shares at Dec. 31, 2020	33,351
Vesting of stock-based compensation awards	$ 6	(6)
Vesting of stock-based compensation awards, shares	601
Withholding of common stock upon vesting of stock-based compensation awards	$ (3)	(12,174)		(12,177)
Withholding of common stock upon vesting of stock-based compensation awards, shares	(244)
Stock-based compensation expense		3,019		3,019
Other		(30)		(30)
Net income			101,652	101,652
Ending balance at Mar. 31, 2021	$ 337	688,009	684,823	1,373,169
Ending balance, shares at Mar. 31, 2021	33,708
Beginning balance at Dec. 31, 2021	$ 338	697,845	1,066,325	1,764,508
Beginning balance, shares at Dec. 31, 2021	33,761
Vesting of stock-based compensation awards	$ 5	(5)
Vesting of stock-based compensation awards, shares	480
Withholding of common stock upon vesting of stock-based compensation awards	$ (3)	(12,135)		(12,138)
Withholding of common stock upon vesting of stock-based compensation awards, shares	(190)
Repurchases of common stock	$ (10)	(62,367)		(62,377)
Repurchases of common stock, shares	(1,013)
Stock-based compensation expense		4,064		4,064
Cash dividends declared and dividend equivalents		79	(6,736)	(6,657)
Other		(34)		(34)
Net income			142,496	142,496
Ending balance at Mar. 31, 2022	$ 330	$ 627,447	$ 1,202,085	$ 1,829,862
Ending balance, shares at Mar. 31, 2022	33,038

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation Century Communities, Inc. (which we refer to as “we,” “CCS,” or the “Company”), together with its subsidiaries, is engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 17 states. In many of our projects, in addition to building homes, we are responsible for the entitlement and development of the underlying land. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand targets a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade opportunities. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade opportunities. We now have six states where both Century brands have a presence, and we believe there are more opportunities for increased penetration within our over 45 high-growth markets to enable both brands to benefit from increased scale and enhanced operational efficiencies. Our homebuilding operations are organized into the following five reportable segments: West, Mountain, Texas, Southeast, and Century Complete. Our indirect wholly-owned subsidiaries, Inspire Home Loans Inc., Parkway Title, LLC, and IHL Home Insurance Agency, LLC, which provide mortgage, title, and insurance services, respectively, primarily to our homebuyers, have been identified as our Financial Services segment. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (which we refer to as “GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (which we refer to as the “SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of our financial position and results of operations for the periods presented. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The financial statements and related notes do not include all information and footnotes required by GAAP and should be read in conjunction with the consolidated financial statements for the year ended December 31, 2021, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 that was filed with the SEC on February 3, 2022. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company, as well as all subsidiaries in which we have a controlling interest, and variable interest entities for which the Company is deemed to be the primary beneficiary. We do not have any variable interest entities in which we are deemed the primary beneficiary. All intercompany accounts and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates.

Reporting Segments

Reporting Segments	3 Months Ended
	Mar. 31, 2022
Reporting Segments [Abstract]
Reporting Segments	2. Reporting Segments Our homebuilding operations are engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 17 states. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand is managed by geographic location, and each of our four geographic regions offers a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade selections. Each of our four geographic regions is considered a separate operating segment. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade selections. Our Century Complete brand currently has operations in 11 states and is managed separately from our four geographic regions. Accordingly, it is considered a separate operating segment. The management of our four Century Communities geographic regions and Century Complete reports to our chief operating decision makers (which we refer to as “CODMs”), the Co-Chief Executive Officers of our Company. The CODMs review the results of our operations, including total revenue and income before income tax expense to determine profitability and to allocate resources. Accordingly, we have presented our homebuilding operations as the following five reportable segments:  West (California and Washington)  Mountain (Arizona, Colorado, Nevada, and Utah)  Texas  Southeast (Florida, Georgia, North Carolina, South Carolina, and Tennessee)  Century Complete (Alabama, Arizona, Florida, Georgia, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, and Texas) We have identified our Financial Services operations, which provide mortgage, title, and insurance services to our homebuyers, as a sixth reportable segment. Our Corporate operations are a non-operating segment, as they serve to support our homebuilding, and to a lesser extent our Financial Services operations, through functions, such as our executive, finance, treasury, human resources, accounting and legal departments. The following table summarizes total revenue and income before income tax expense by segment (in thousands ): Three Months Ended March 31, 2022 2021 Revenue: West $ 262,710 $ 185,826 Mountain 281,360 305,313 Texas 124,577 87,735 Southeast 149,600 220,406 Century Complete 171,798 175,669 Financial Services 26,305 33,620 Corporate — — Total revenue $ 1,016,350 $ 1,008,569 Income (loss) before income tax expense: West $ 71,242 $ 27,461 Mountain 56,999 51,980 Texas 20,570 8,531 Southeast 30,865 23,440 Century Complete 24,692 21,730 Financial Services 11,151 15,319 Corporate ( 26,743 ) ( 17,412 ) Total income before income tax expense $ 188,776 $ 131,049 The following table summarizes total assets by segment (in thousands): March 31, December 31, 2022 2021 West $ 724,968 $ 668,830 Mountain 1,016,202 1,008,481 Texas 365,114 322,302 Southeast 401,522 360,644 Century Complete 424,854 371,096 Financial Services 396,178 533,159 Corporate 166,663 232,364 Total assets $ 3,495,501 $ 3,496,876 Corporate assets primarily include certain cash and cash equivalents, certain property and equipment, prepaid insurance, and deferred financing costs on our revolving line of credit.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2022
Inventory [Abstract]
Inventory	3. Inventories Inventories included the following (in thousands): March 31, December 31, 2022 2021 Homes under construction $ 1,298,771 $ 1,188,270 Land and land development 1,326,172 1,214,965 Capitalized interest 55,252 53,379 Total inventories $ 2,680,195 $ 2,456,614

Financial Services

Financial Services	3 Months Ended
	Mar. 31, 2022
Financial Services [Abstract]
Financial Services	4. Financial Services Our Financial Services are principally comprised of our mortgage lending operations, Inspire Home Loans Inc. (which we refer to as “Inspire”). Inspire is a full-service mortgage lender and primarily originates mortgage loans for our homebuyers. Inspire sells substantially all of the loans it originates either as loans with servicing rights released, or with servicing rights retained, in the secondary mortgage market within a short period of time after origination, generally within 30 days. Inspire primarily finances these loans using its mortgage repurchase facilities. Mortgage loans in process for which interest rates were locked by borrowers, or interest rate lock commitments, totaled approximately $ 230.7 million and $ 164.3 million at March 31, 2022 and December 31, 2021, respectively, and carried a weighted average interest rate of approximately 4.4 % and 3.3 %, respectively . As of March 31, 2022 and December 31, 2021, Inspire had mortgage loans held for sale with an aggregate fair value of $ 199.0 million and $ 353.1 million, respectively, and an aggregate outstanding principal balance of $ 197.6 million and $ 342.0 million, respectively. Our net gains on the sale of mortgage loans were $ 0.7 million and $ 18.0 million for the three months ended March 31, 2022 and 2021, respectively, and are included in the financial services revenue on the condensed consolidated statements of operations. Interest rate risks related to these obligations are typically mitigated by the preselling of loans to investors or through our interest rate hedging program. Mortgage loans held for sale, including the rights to service the mortgage loans, mortgage loans in process for which interest rates were committed to the borrowers (referred to as “interest rate lock commitments”), as well as the derivative instruments used to economically hedge our interest rate risk, which are typically forward commitments on mortgage-backed securities and interest rate lock commitments, are carried at fair value. Management believes carrying loans held for sale at fair value improves financial reporting by mitigating volatility in reported earnings caused by measuring the fair value of the loans and the derivative instruments used to economically hedge them. Gains and losses from the changes in fair value are reflected in financial services revenue on the condensed consolidated statements of operations. Losses from the change in fair value for mortgage loans held for sale were $ 9.7 million and $ 4.9 million for the three months ended March 31, 2022 and 2021, respectively . Refer to Note 11 – Fair Value Disclosures for further information regarding our derivative instruments .

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	3 Months Ended
	Mar. 31, 2022
Prepaid Expenses and Other Assets [Abstract]
Prepaid Expenses and Other Assets	5. Prepaid Expenses and Other Assets Prepaid expenses and other assets included the following (in thousands): March 31, December 31, 2022 2021 Prepaid insurance $ 35,968 $ 37,814 Lot option and escrow deposits 67,068 61,649 Performance deposits 11,606 11,196 Deferred financing costs on revolving line of credit, net 5,411 5,135 Restricted cash (1) 9,111 5,931 Right of use assets 16,899 16,939 Other assets and prepaid expenses 46,362 28,322 Mortgage loans held for investment 16,509 13,456 Derivative assets and mortgage servicing rights 27,633 19,645 Total prepaid expenses and other assets $ 236,567 $ 200,087 (1) Restricted cash consists of earnest money deposits for home sale contracts held by third parties as required by various jurisdictions, and certain pledge balances associated with our mortgage repurchase facilities.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	3 Months Ended
	Mar. 31, 2022
Accrued Expenses and Other Liabilities [Abstract]
Accrued Expenses and Other Liabilities	6. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities included the following (in thousands): March 31, December 31, 2022 2021 Earnest money deposits $ 65,553 $ 56,811 Warranty reserve 13,503 13,343 Accrued compensation costs 43,665 81,604 Land development and home construction accruals 115,940 88,155 Accrued interest 13,765 9,653 Lease liabilities - operating leases 17,555 17,359 Income taxes payable 46,036 1,684 Derivative liabilities — 359 Other accrued liabilities 54,113 47,909 Total accrued expenses and other liabilities $ 370,130 $ 316,877

Warranties

Warranties	3 Months Ended
	Mar. 31, 2022
Warranties [Abstract]
Warranties	7. Warranties Estimated future direct warranty costs are accrued and charged to cost of home sales revenues in the period when the related home sales revenues are recognized. Amounts accrued, which are included in accrued expenses and other liabilities on the condensed consolidated balance sheets, are based upon historical experience rates. We subsequently assess the adequacy of our warranty accrual on a quarterly basis through a model that incorporates historical payment trends and adjust the amounts recorded, if necessary. Based on warranty payment trends relative to our estimates at the time of home closing, we reduced our warranty reserve by $ 0.6 million and $ 1.8 million during the three months ended March 31, 2022 and 2021, respectively. These adjustments are included in cost of home sales revenues on our condensed consolidated statements of operations. Changes in our warranty accrual for the three months ended March 31, 2022 and 2021 are detailed in the table below (in thousands) : Three Months Ended March 31, 2022 2021 Beginning balance $ 13,343 $ 13,824 Warranty expense provisions 1,902 2,298 Payments ( 1,185 ) ( 839 ) Warranty adjustment ( 557 ) ( 1,803 ) Ending balance $ 13,503 $ 13,480

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt [Abstract]
Debt	8. Debt Our outstanding debt obligations included the following as of March 31, 2022 and December 31, 2021 (in thousands): March 31, December 31, 2022 2021 3.875 % senior notes, due August 2029 (1) $ 494,310 $ 494,117 6.750 % senior notes, due May 2027 (1) 495,785 495,581 Other financing obligations 20,866 9,238 Notes payable 1,010,961 998,936 Revolving line of credit — — Mortgage repurchase facilities 193,028 331,876 Total debt $ 1,203,989 $ 1,330,812 (1) The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest expense over the respective terms of the senior notes. Revolving Line of Credit On May 21, 2021, we entered into a Second Amended and Restated Credit Agreement (which we refer to as the “Second A&R Credit Agreement”) with Texas Capital Bank, National Association, as Administrative Agent and L/C Issuer, and the lenders party thereto. The Second A&R Credit Agreement, which amended and restated our prior Amended and Restated Credit Agreement , provides us with a senior unsecured revolving line of credit (which we refer to as the “Credit Facility”) of up to $ 800 million, and unless terminated earlier, will mature on April 30, 2026. The Credit Facility includes a $ 250.0 million sublimit for standby letters of credit. Under the terms of the Second A&R Credit Agreement, the Company is entitled to request an increase in the size of the Credit Facility by an amount not exceeding $ 200 million. Our obligations under the Second A&R Credit Agreement are guaranteed by certain of our subsidiaries. The Second A&R Credit Agreement contains customary affirmative and negative covenants (including limitations on our ability to grant liens, incur additional debt, pay dividends, redeem our common stock, make certain investments and engage in certain merger, consolidation or asset sale transactions), as well as customary events of default. Borrowings under the Second A&R Credit Agreement bear interest at a floating rate equal to the adjusted Eurodollar Rate plus an applicable margin between 2.05 % and 2.65 % per annum, and if made available in the Administrative Agent’s discretion, a base rate plus an applicable margin between 1.05 % and 1.65 % per annum. As of March 31, 2022 and December 31, 2021, no amounts were outstanding under the Credit Facility, and we were in compliance with all covenants. Mortgage Repurchase Facilities – Financial Services On May 4, 2018, September 14, 2018, and August 1, 2019, Inspire entered into mortgage warehouse facilities, with Comerica Bank, J.P. Morgan, and Wells Fargo, respectively. The mortgage warehouse lines of credit (which we refer to as the “Repurchase Facilities”), which were increased in 2020, provide Inspire with uncommitted repurchase facilities of up to $ 325 million as of March 31, 2022, secured by the mortgage loans financed thereunder. The Repurchase Facilities have varying short term maturity dates through August 23, 2022 and bear a weighted average interest rate of 2.17 %. Amounts outstanding under the Repurchase Facilities are not guaranteed by us or any of our subsidiaries, and the agreements contain various affirmative and negative covenants applicable to Inspire that are customary for arrangements of this type. As of March 31, 2022 and December 31, 2021, we had $ 193.0 million and $ 331.9 million outstanding under the Repurchase Facilities, respectively, and were in compliance with all covenants thereunder. During the three months ended March 31, 2022 and 2021, we incurred interest expense on the Repurchase Facilities of $ 0.4 million and $ 0.8 million, respectively, which are included in financial services costs on our condensed consolidated statements of operations.

Interest

Interest	3 Months Ended
	Mar. 31, 2022
Interest [Abstract]
Interest	9. Interest Interest is capitalized to inventories while the related communities are being actively developed and until homes are completed. As our qualifying assets exceeded our outstanding debt during the three months ended March 31, 2022 and 2021, we capitalized all interest costs incurred during these periods, except for interest incurred on our Repurchase Facilities. Our interest costs were as follows (in thousands): Three Months Ended March 31, 2022 2021 Interest capitalized beginning of period $ 53,379 $ 60,838 Interest capitalized during period 14,019 15,048 Less: capitalized interest in cost of sales ( 12,146 ) ( 18,377 ) Interest capitalized end of period $ 55,252 $ 57,509

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Taxes [Abstract]
Income Taxes	10 . Income Taxes At the end of each interim period we are required to estimate our annual effective tax rate for the fiscal year and to use that rate to provide for income taxes for the current year-to-date reporting period. Our 2022 estimated annual effective tax rate, before discrete items, of 25.5 % is driven by our blended federal and state statutory rate of 24.7 %, and certain permanent differences between GAAP and tax, including disallowed deductions for executive compensation which increased our rate by 0.8 %. For the three months ended March 31, 2022, our estimated annual rate of 25.5 % was impacted by discrete items which had a net impact of decreasing our rate by 1.0 %, including excess tax benefits for vested stock-based compensation and federal energy tax credits claimed on prior year home deliveries in excess of previous estimates . Our estimated annual rate for the three months ended March 31, 2022 of 25.5 % increased by 330 basis points as compared to our effective tax rate for the year ended December 31, 2021 of 22.2 %. The increase in our estimated rate is driven by the expiration of the Energy Efficient Home Credit on December 31, 2021. The Energy Efficient Home Credit provided a $2,000 tax credit for each home delivered that met the energy saving and certification requirements under the statute. For the three months ended March 31, 2022 and 2021, we recorded income tax expense of $ 46.3 million and $ 29.4 million, respectiv ely.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Disclosures	11. Fair Value Disclosures Fair value measurements are used for the Company’s mortgage loans held for sale, mortgage loans held for investment, mortgage servicing rights, interest rate lock commitments and other derivative instruments on a recurring basis. We also utilize fair value measurements on a non-recurring basis for inventories and intangible assets when events and circumstances indicate that the carrying value is not recoverable. The fair value hierarchy and its application to the Company’s assets and liabilities is as follows: Level 1 – Quoted prices for identical instruments in active markets. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at the measurement date.  Mortgage loans held for sale – Fair value is based on quoted market prices for committed and uncommitted mortgage loans.  Derivative assets and liabilities – Derivative assets are interest rate lock commitments and derivative liabilities are associated with forward commitments and investor commitments on loans. Fair value is based on market prices for similar instruments. Level 3 – Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at the measurement date.  Mortgage servicing rights - The fair value of the mortgage servicing rights is calculated using third-party valuations. The key assumptions, which are generally unobservable inputs, used in the valuation of the mortgage servicing rights include mortgage prepayment rates, discount rates and cost to service.  Mortgage loans held for investment – The fair value of mortgage loans held for investment is calculated based on Level 3 analysis which incorporates information including the value of underlying collateral, from markets where there is little observable trading activity. The following outlines the Company’s assets and liabilities measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021, respectively (in thousands): March 31, December 31, Balance Sheet Classification Hierarchy 2022 2021 Mortgage loans held for sale Mortgage loans held for sale Level 2 $ 198,985 $ 353,063 Mortgage loans held for investment (1) Prepaid expenses and other assets Level 3 $ 16,509 $ 13,456 Derivative assets Prepaid expenses and other assets Level 2 $ 9,583 $ 5,944 Mortgage servicing rights (2) Prepaid expenses and other assets Level 3 $ 18,050 $ 13,701 Derivative liabilities Accrued expenses and other liabilities Level 2 $ — $ 359 (1) The unobservable inputs used in the valuation of the mortgage loans held for investment include, among other items, the value of underlying collateral, from markets where there is little observable trading activity. (2) The unobservable inputs used in the valuation of the mortgage servicing rights include mortgage prepayment rates, discount rates and cost to service, which were 7.1 %, 9.9 %, and $ 0.090 per year per loan, respectively as of March 31, 2022, and 8.5 %, 9.9 %, and $ 0.085 per year per loan, respectively, as of December 31, 2021. The high and low end of the range of unobservable inputs used in the valuation did not result in a significant change to the fair value measurement. The following table represents the reconciliation of the beginning and ending balance for the Level 3 recurring fair value measurements, with gains and losses from the changes in fair value reflected in financial services revenue on the condensed consolidated statements of operations (in thousands): Three Months Ended March 31, Mortgage servicing rights 2022 2021 Beginning of period $ 13,701 $ 4,115 Originations 3,406 3,882 Settlements ( 305 ) ( 126 ) Changes in fair value 1,248 378 End of period $ 18,050 $ 8,249 Three Months Ended March 31, Mortgage loans held-for-investment 2022 2021 Beginning of period $ 13,456 $ 8,727 Transfers from loans held for sale 4,166 1,400 Settlements ( 975 ) — Reduction in unpaid principal balance ( 64 ) ( 49 ) Changes in fair value ( 74 ) — End of period $ 16,509 $ 10,078 For the financial assets and liabilities that the Company does not reflect at fair value, the following present both their respective carrying value and fair value at March 31, 2022 and December 31, 2021, respectively (in thousands). March 31, 2022 December 31, 2021 Hierarchy Carrying Fair Value Carrying Fair Value Cash and cash equivalents Level 1 $ 209,046 $ 209,046 $ 316,310 $ 316,310 3.875 % senior notes (1)(2) Level 2 $ 494,310 $ 446,250 $ 494,117 $ 504,375 6.750 % senior notes (1)(2) Level 2 $ 495,785 $ 515,000 $ 495,581 $ 526,875 Revolving line of credit (3) Level 2 $ — $ — $ — $ — Other financing obligations (3)(4) Level 3 $ 20,866 $ 20,866 $ 9,238 $ 9,238 Mortgage repurchase facilities (3) Level 2 $ 193,028 $ 193,028 $ 331,876 $ 331,876 (1) Estimated fair value of the senior notes is based on recent trading activity in inactive markets. (2) Carrying amounts include any associated unamortized deferred financing costs, premiums and discounts. As of March 31, 2022, these amounts totaled $ 5.7 million and $ 4.2 million for the 3.875 % senior notes and 6.750 % senior notes, respectively. As of December 31, 2021, these amounts totaled $ 5.9 million and $ 4.4 million for the 6.750 % senior notes and 5.875 % senior notes, respectively. (3) Carrying amount approximates fair value due to short-term nature and interest rate terms. (4) Other financing obligations included insurance premium notes and certain secured borrowings and generally bore interest rates ranging from 2.40 % to 3.24 % during the period ended March 31, 2022 and from 2.99 % to 3.24 % during the period ended December 31, 2021. Non-financial assets and liabilities include items such as inventory and property and equipment that are measured at fair value when acquired and as a result of impairments, if deemed necessary. No impairment charges were recorded in the three months ended March 31, 2022 and 2021, respectively. When impairment charges are recognized, the estimated fair value of communities are determined through a discounted cash flow approach utilizing Level 3 inputs. Changes in our cash flow projections in future periods related to these communities may change our conclusions on the recoverability of inventory in the future.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Stock-Based Compensation [Abstract]
Stock-Based Compensation	12. Stock-Based Compensation During the three months ended March 31, 2022 and 2021, we granted performance share units (which we refer to as “PSUs”) covering up to 0.5 million and 0.2 million shares of common stock, respectively, assuming maximum level of performance, with a grant date fair value of $ 55.93 and $ 58.28 per share, respectively, that are subject to both service and performance vesting conditions. The quantity of shares that will ultimately vest for the PSUs ranges from 0 % to up to 250 % of a targeted number of shares for each participant and will be determined based on an achievement of a three year adjusted pre-tax income performance goal. During the three months ended March 31, 2022 and 2021, we issued 0.3 million and 0.3 million shares of common stock, respectively, upon the vesting and settlement of PSUs that were granted in previous periods. Approximately 0.9 million shares will vest in 2022 to 2024 if the defined maximum performance targets are met, and no shares will vest if the defined minimum performance targets are not met. During the three months ended March 31, 2022 and 2021, we granted restricted stock units (which we refer to as “RSUs”) covering 0.2 million and 0.2 million shares of common stock, respectively, with a grant date fair value of $ 64.37 and $ 52.74 per share, respectively, that primarily vest over a three year period. A summary of our outstanding PSUs, assuming the current estimated level of performance achievement, and RSUs are as follows (in thousands, except years): As of March 31, 2022 Unvested units 1,026 Unrecognized compensation cost $ 34,672 Weighted-average period to recognize compensation cost 1.97 During the three months ended March 31, 2022 and 2021, we recognized stock-based compensation expense of $ 4.1 million and $ 3.0 million, respectively. Stock-based compensation expense is included in selling, general, and administrative expense on our condensed consolidated statements of operations.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity [Abstract]
Stockholders' Equity	13. Stockholders’ Equity Our authorized capital stock consists of 100.0 million shares of common stock, par value $ 0.01 per share, and 50.0 million shares of preferred stock, par value $ 0.01 per share. As of March 31, 2022 and December 31, 2021, there were 33.0 million and 33.8 million shares of common stock issued and outstanding, respectively, and no shares of preferred stock outstanding. On May 10, 2017, our stockholders approved the adoption of the Century Communities, Inc. 2017 Omnibus Incentive Plan (which we refer to as our “2017 Incentive Plan”), which replaced our First Amended & Restated 2013 Long-Term Incentive Plan. We had reserved a total of 1.8 million shares of our common stock for issuance under our First Amended & Restated 2013 Long-Term Incentive Plan, of which approximately 0.6 million shares rolled over into the 2017 Incentive Plan when it became effective. On May 8, 2019, our stockholders approved the Century Communities, Inc. Amended and Restated 2017 Omnibus Incentive Plan (which we refer to as our “Amended 2017 Incentive Plan”), which increased the number of shares of our common stock authorized for issuance under the 2017 Incentive Plan by an additional 1.6 million shares. We issued 0.5 million and 0.6 million shares of common stock related to the vesting and settlement of RSUs and PSUs during the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, approximately 0.3 million shares of common stock remained available for issuance under the Amended 2017 Incentive Plan. On May 19, 2021, our Board of Directors announced the approval of the initiation of a quarterly cash dividend. The following table sets forth cash dividends declared by our Board of Directors to holders of record of our common stock during the three months ended March 31, 2022 (in thousands, except per share information): Cash Dividends Declared Declaration Date Record Date Payable Date Per Share Amount February 16, 2022 March 2, 2022 March 16, 2022 $ 0.20 $ 6,657 Under the Amended 2017 Incentive Plan, at the discretion of the Compensation Committee of the Board of Directors, RSUs and PSUs granted under the plan have the right to earn dividend equivalents, which entitles the holders of such RSUs and PSUs to additional RSUs and PSUs equal to the same dividend value per share as holders of common stock. Dividend equivalents are subject to the same vesting and other terms and conditions as the underlying RSUs and PSUs. On November 27, 2019, we entered into a Distribution Agreement with J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., and Fifth Third Securities, Inc. (which we refer to as the “Distribution Agreement”), as sales agents pursuant to which we may offer and sell shares of our common stock having an aggregate offering price of up to $ 100.0 million from time to time through any of the sales agents party thereto in “at-the-market” offerings, in accordance with the terms and conditions set forth in the Distribution Agreement. This Distribution Agreement, which superseded and replaced a prior similar distribution agreement, and was amended in July 2021 to acknowledge our filing of a new registration statement on Form S-3 registering the issuance and sale of shares of our common stock under the Distribution Agreement and replace Citigroup Global Markets Inc. with Wells Fargo Securities, LLC as a sales agent, had all $ 100.0 million available for sale as of March 31, 2022. We did no t sell or issue any shares of our common stock during the three months ended March 31, 2022 and 2021, respectively. The Distribution Agreement will remain in full force and effect until terminated by either party pursuant to the terms of the agreement or such date that the maximum offering amount has been sold in accordance with the terms of the agreement . On November 6, 2018, we authorized a stock repurchase program, under which we may repurchase up to 4,500,000 shares of our outstanding common stock. During the three months ended March 31, 2022, an aggregate of 1.0 million shares were repurchased for a total purchase price of approximately $ 62.4 million and a weighted average price of $ 61.52 per share. During the three months ended March 31, 2021 we did not repurchase any shares of common stock. The maximum number of shares available to be purchased under the stock repurchase program as of March 31, 2022 was 2,799,552 shares. During the three months ended March 31, 2022 and 2021, shares of common stock at a total cost of $ 12.1 million and $ 12.2 million, respectively, were netted and surrendered as payment for minimum statutory withholding obligations in connection with the vesting of outstanding stock-based compensation awards. Shares surrendered by the participants in accordance with the applicable award agreements and plan are deemed repurchased and retired by us but are not part of publicly announced share repurchase programs.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	14. Earnings Per Share We use the treasury stock method to calculate earnings per share as our currently issued non-vested RSUs and PSUs do not have participating rights. The following table sets forth the computation of basic and diluted EPS for the three months ended March 31, 2022 and 2021 (in thousands, except share and per share information): Three Months Ended March 31, 2022 2021 Numerator Net income $ 142,496 $ 101,652 Denominator Weighted average common shares outstanding - basic 33,530,610 33,563,903 Dilutive effect of restricted stock units 411,624 320,372 Weighted average common shares outstanding - diluted 33,942,234 33,884,275 Earnings per share: Basic $ 4.25 $ 3.03 Diluted $ 4.20 $ 3.00 Stock-based awards are excluded from the calculation of diluted EPS in the event they are subject to unsatisfied performance conditions or are antidilutive. We excluded 0.6 million and 0.8 million common stock unit equivalents from diluted earnings per share during each of the three months ended March 31, 2022 and 2021, respectively, related to the PSUs for which performance conditions remained unsatisfied .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Letters of Credit and Performance Bonds In the normal course of business, we post letters of credit and performance and other bonds primarily related to our land development performance obligations with local municipalities. As of March 31, 2022 and December 31, 2021, we had $ 528.9 million and $ 492.5 million, respectively, in letters of credit and performance and other bonds issued and outstanding. Legal Proceedings We are subject to claims and lawsuits that arise primarily in the ordinary course of business, which consist primarily of construction claims. It is the opinion of our management that if the claims have merit, parties other than the Company would be, at least in part, liable for the claims, and the eventual outcome of these claims will not have a material adverse effect upon our consolidated financial condition, results of operations, or cash flows. When we believe that a loss is probable and estimable, we record a charge to selling, general, and administrative expense on our condensed consolidated statements of operations for our estimated loss. Under various insurance policies, we have the ability to recoup costs in excess of applicable self-insured retentions. Estimates of such amounts are recorded in other assets on our condensed consolidated balance sheet when recovery is probable. We do not believe that the ultimate resolution of any claims and lawsuits will have a material adverse effect upon our consolidated financial position, results of operations, or cash flows.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	3 Months Ended
	Mar. 31, 2022
Basis of Presentation [Abstract]
Basis of Presentation	Century Communities, Inc. (which we refer to as “we,” “CCS,” or the “Company”), together with its subsidiaries, is engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 17 states. In many of our projects, in addition to building homes, we are responsible for the entitlement and development of the underlying land. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand targets a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade opportunities. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade opportunities. We now have six states where both Century brands have a presence, and we believe there are more opportunities for increased penetration within our over 45 high-growth markets to enable both brands to benefit from increased scale and enhanced operational efficiencies. Our homebuilding operations are organized into the following five reportable segments: West, Mountain, Texas, Southeast, and Century Complete. Our indirect wholly-owned subsidiaries, Inspire Home Loans Inc., Parkway Title, LLC, and IHL Home Insurance Agency, LLC, which provide mortgage, title, and insurance services, respectively, primarily to our homebuyers, have been identified as our Financial Services segment. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (which we refer to as “GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (which we refer to as the “SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of our financial position and results of operations for the periods presented. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The financial statements and related notes do not include all information and footnotes required by GAAP and should be read in conjunction with the consolidated financial statements for the year ended December 31, 2021, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 that was filed with the SEC on February 3, 2022.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company, as well as all subsidiaries in which we have a controlling interest, and variable interest entities for which the Company is deemed to be the primary beneficiary. We do not have any variable interest entities in which we are deemed the primary beneficiary. All intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates.

Reporting Segments (Tables)

Reporting Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Reporting Segments [Abstract]
Schedule of Total Revenue and Pretax Income by Segment	Three Months Ended March 31, 2022 2021 Revenue: West $ 262,710 $ 185,826 Mountain 281,360 305,313 Texas 124,577 87,735 Southeast 149,600 220,406 Century Complete 171,798 175,669 Financial Services 26,305 33,620 Corporate — — Total revenue $ 1,016,350 $ 1,008,569 Income (loss) before income tax expense: West $ 71,242 $ 27,461 Mountain 56,999 51,980 Texas 20,570 8,531 Southeast 30,865 23,440 Century Complete 24,692 21,730 Financial Services 11,151 15,319 Corporate ( 26,743 ) ( 17,412 ) Total income before income tax expense $ 188,776 $ 131,049
Schedule of Total Assets by Segment	March 31, December 31, 2022 2021 West $ 724,968 $ 668,830 Mountain 1,016,202 1,008,481 Texas 365,114 322,302 Southeast 401,522 360,644 Century Complete 424,854 371,096 Financial Services 396,178 533,159 Corporate 166,663 232,364 Total assets $ 3,495,501 $ 3,496,876

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory [Abstract]
Schedule of Inventory	March 31, December 31, 2022 2021 Homes under construction $ 1,298,771 $ 1,188,270 Land and land development 1,326,172 1,214,965 Capitalized interest 55,252 53,379 Total inventories $ 2,680,195 $ 2,456,614

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Prepaid Expenses and Other Assets [Abstract]
Schedule of Prepaid Expenses and Other Assets	March 31, December 31, 2022 2021 Prepaid insurance $ 35,968 $ 37,814 Lot option and escrow deposits 67,068 61,649 Performance deposits 11,606 11,196 Deferred financing costs on revolving line of credit, net 5,411 5,135 Restricted cash (1) 9,111 5,931 Right of use assets 16,899 16,939 Other assets and prepaid expenses 46,362 28,322 Mortgage loans held for investment 16,509 13,456 Derivative assets and mortgage servicing rights 27,633 19,645 Total prepaid expenses and other assets $ 236,567 $ 200,087 (1) Restricted cash consists of earnest money deposits for home sale contracts held by third parties as required by various jurisdictions, and certain pledge balances associated with our mortgage repurchase facilities.

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Accrued Expenses and Other Liabilities [Abstract]
Schedule of Accrued Expenses and Other Liabilities	March 31, December 31, 2022 2021 Earnest money deposits $ 65,553 $ 56,811 Warranty reserve 13,503 13,343 Accrued compensation costs 43,665 81,604 Land development and home construction accruals 115,940 88,155 Accrued interest 13,765 9,653 Lease liabilities - operating leases 17,555 17,359 Income taxes payable 46,036 1,684 Derivative liabilities — 359 Other accrued liabilities 54,113 47,909 Total accrued expenses and other liabilities $ 370,130 $ 316,877

Warranties (Tables)

Warranties (Tables)	3 Months Ended
	Mar. 31, 2022
Warranties [Abstract]
Schedule of Changes in Warranty Accrual	Three Months Ended March 31, 2022 2021 Beginning balance $ 13,343 $ 13,824 Warranty expense provisions 1,902 2,298 Payments ( 1,185 ) ( 839 ) Warranty adjustment ( 557 ) ( 1,803 ) Ending balance $ 13,503 $ 13,480

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt [Abstract]
Schedule of Outstanding Debt Obligations	March 31, December 31, 2022 2021 3.875 % senior notes, due August 2029 (1) $ 494,310 $ 494,117 6.750 % senior notes, due May 2027 (1) 495,785 495,581 Other financing obligations 20,866 9,238 Notes payable 1,010,961 998,936 Revolving line of credit — — Mortgage repurchase facilities 193,028 331,876 Total debt $ 1,203,989 $ 1,330,812 (1) The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest expense over the respective terms of the senior notes.

Interest (Tables)

Interest (Tables)	3 Months Ended
	Mar. 31, 2022
Interest [Abstract]
Schedule of Capitalized Interest Costs	Three Months Ended March 31, 2022 2021 Interest capitalized beginning of period $ 53,379 $ 60,838 Interest capitalized during period 14,019 15,048 Less: capitalized interest in cost of sales ( 12,146 ) ( 18,377 ) Interest capitalized end of period $ 55,252 $ 57,509

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	March 31, December 31, Balance Sheet Classification Hierarchy 2022 2021 Mortgage loans held for sale Mortgage loans held for sale Level 2 $ 198,985 $ 353,063 Mortgage loans held for investment (1) Prepaid expenses and other assets Level 3 $ 16,509 $ 13,456 Derivative assets Prepaid expenses and other assets Level 2 $ 9,583 $ 5,944 Mortgage servicing rights (2) Prepaid expenses and other assets Level 3 $ 18,050 $ 13,701 Derivative liabilities Accrued expenses and other liabilities Level 2 $ — $ 359 (1) The unobservable inputs used in the valuation of the mortgage loans held for investment include, among other items, the value of underlying collateral, from markets where there is little observable trading activity. (2) The unobservable inputs used in the valuation of the mortgage servicing rights include mortgage prepayment rates, discount rates and cost to service, which were 7.1 %, 9.9 %, and $ 0.090 per year per loan, respectively as of March 31, 2022, and 8.5 %, 9.9 %, and $ 0.085 per year per loan, respectively, as of December 31, 2021. The high and low end of the range of unobservable inputs used in the valuation did not result in a significant change to the fair value measurement.
Schedule of Reconciliation of Level 3 Recurring at Fair Value	Three Months Ended March 31, Mortgage servicing rights 2022 2021 Beginning of period $ 13,701 $ 4,115 Originations 3,406 3,882 Settlements ( 305 ) ( 126 ) Changes in fair value 1,248 378 End of period $ 18,050 $ 8,249 Three Months Ended March 31, Mortgage loans held-for-investment 2022 2021 Beginning of period $ 13,456 $ 8,727 Transfers from loans held for sale 4,166 1,400 Settlements ( 975 ) — Reduction in unpaid principal balance ( 64 ) ( 49 ) Changes in fair value ( 74 ) — End of period $ 16,509 $ 10,078
Schedule of Carrying Values and Fair Values of Financial Instruments	March 31, 2022 December 31, 2021 Hierarchy Carrying Fair Value Carrying Fair Value Cash and cash equivalents Level 1 $ 209,046 $ 209,046 $ 316,310 $ 316,310 3.875 % senior notes (1)(2) Level 2 $ 494,310 $ 446,250 $ 494,117 $ 504,375 6.750 % senior notes (1)(2) Level 2 $ 495,785 $ 515,000 $ 495,581 $ 526,875 Revolving line of credit (3) Level 2 $ — $ — $ — $ — Other financing obligations (3)(4) Level 3 $ 20,866 $ 20,866 $ 9,238 $ 9,238 Mortgage repurchase facilities (3) Level 2 $ 193,028 $ 193,028 $ 331,876 $ 331,876 (1) Estimated fair value of the senior notes is based on recent trading activity in inactive markets. (2) Carrying amounts include any associated unamortized deferred financing costs, premiums and discounts. As of March 31, 2022, these amounts totaled $ 5.7 million and $ 4.2 million for the 3.875 % senior notes and 6.750 % senior notes, respectively. As of December 31, 2021, these amounts totaled $ 5.9 million and $ 4.4 million for the 6.750 % senior notes and 5.875 % senior notes, respectively. (3) Carrying amount approximates fair value due to short-term nature and interest rate terms. (4) Other financing obligations included insurance premium notes and certain secured borrowings and generally bore interest rates ranging from 2.40 % to 3.24 % during the period ended March 31, 2022 and from 2.99 % to 3.24 % during the period ended December 31, 2021.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Stock-Based Compensation [Abstract]
Summary of Outstanding RSUs and PSUs	As of March 31, 2022 Unvested units 1,026 Unrecognized compensation cost $ 34,672 Weighted-average period to recognize compensation cost 1.97

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity [Abstract]
Schedule of Dividends Declared	Cash Dividends Declared Declaration Date Record Date Payable Date Per Share Amount February 16, 2022 March 2, 2022 March 16, 2022 $ 0.20 $ 6,657

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended March 31, 2022 2021 Numerator Net income $ 142,496 $ 101,652 Denominator Weighted average common shares outstanding - basic 33,530,610 33,563,903 Dilutive effect of restricted stock units 411,624 320,372 Weighted average common shares outstanding - diluted 33,942,234 33,884,275 Earnings per share: Basic $ 4.25 $ 3.03 Diluted $ 4.20 $ 3.00

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	3 Months Ended
	Mar. 31, 2022stateitemsegment
Number of operating states	17
Number of reportable segments | segment	5
Century Communities And Century Complete [Member]
Number of operating states	6
Number Of High Growth Markets | item	45

Reporting Segments (Narrative)

Reporting Segments (Narrative) (Details)	3 Months Ended
	Mar. 31, 2022stateregionsegment
Segment Reporting Information [Line Items]
Number of operating states	17
Number of reportable segments | segment	5
Century Complete [Member]
Segment Reporting Information [Line Items]
Number of operating states	11
Number of operating regions | region	4

Reporting Segments (Schedule of

Reporting Segments (Schedule of Total Revenue and Pretax Income by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total revenue	$ 1,016,350	$ 1,008,569
Total income before income tax expense	188,776	131,049
West [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	262,710	185,826
Total income before income tax expense	71,242	27,461
Mountain [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	281,360	305,313
Total income before income tax expense	56,999	51,980
Texas [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	124,577	87,735
Total income before income tax expense	20,570	8,531
Southeast [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	149,600	220,406
Total income before income tax expense	30,865	23,440
Century Complete [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	171,798	175,669
Total income before income tax expense	24,692	21,730
Financial Services [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	26,305	33,620
Total income before income tax expense	11,151	15,319
Corporate [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total income before income tax expense	$ (26,743)	$ (17,412)

Reporting Segments (Schedule _2

Reporting Segments (Schedule of Total Assets by Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total assets	$ 3,495,501	$ 3,496,876
West [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	724,968	668,830
Mountain [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	1,016,202	1,008,481
Texas [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	365,114	322,302
Southeast [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	401,522	360,644
Century Complete [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	424,854	371,096
Financial Services [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	396,178	533,159
Corporate [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 166,663	$ 232,364

Inventory (Schedule of Inventor

Inventory (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Inventory [Abstract]
Homes under construction	$ 1,298,771	$ 1,188,270
Land and land development	1,326,172	1,214,965
Capitalized interest	55,252	53,379	$ 57,509	$ 60,838
Total inventories	$ 2,680,195	$ 2,456,614

Financial Services (Narrative)

Financial Services (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Financial Services [Line Items]
Mortgage loans in process	$ 230,700		$ 164,300
Mortgage loans held for sale	198,985		353,063
Mortgage loans held for sale aggregate outstanding principal balance	197,600		$ 342,000
Net gains on the sale of mortgage loans	700	$ 18,000
Increase (Decrease) in Loans Held-for-sale	$ 9,700	$ 4,900
Weighted Average [Member]
Financial Services [Line Items]
Interest rate	4.40%		3.30%

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets (Schedule of Prepaid Expenses and Other Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Prepaid Expenses and Other Assets [Abstract]
Prepaid insurance	$ 35,968	$ 37,814
Lot option and escrow deposits	67,068	61,649
Performance deposits	11,606	11,196
Deferred financing costs on revolving line of credit, net	5,411	5,135
Restricted cash	9,111	5,931
Right of use assets	16,899	16,939
Other assets and prepaid expenses	46,362	28,322
Mortgage loans held for investment	16,509	13,456
Derivative assets and mortgage servicing rights	27,633	19,645
Total prepaid expenses and other assets	$ 236,567	$ 200,087

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Schedule of Accrued Expenses and Other Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accrued Expenses and Other Liabilities [Abstract]
Earnest money deposits	$ 65,553	$ 56,811
Warranty reserve	13,503	13,343	$ 13,480	$ 13,824
Accrued compensation costs	43,665	81,604
Land development and home construction accruals	115,940	88,155
Accrued interest	13,765	9,653
Lease liabilities - operating leases	17,555	17,359
Income taxes payable	46,036	1,684
Derivative liabilities		359
Other accrued liabilities	54,113	47,909
Total accrued expenses and other liabilities	$ 370,130	$ 316,877

Warranties (Narrative) (Details

Warranties (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Warranties [Abstract]
Warranty reserve adjustment	$ (557)	$ (1,803)

Warranties (Schedule of Changes

Warranties (Schedule of Changes in Warranty Accrual) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Warranties [Abstract]
Beginning balance	$ 13,343	$ 13,824
Warranty expense provisions	1,902	2,298
Payments	(1,185)	(839)
Warranty adjustment	(557)	(1,803)
Ending balance	$ 13,503	$ 13,480

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	May 21, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Notes payable		$ 1,010,961,000		$ 998,936,000
Line of credit facility, outstanding amount
Mortgage repurchase facilities		193,028,000		331,876,000
Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Mortgage repurchase facilities		193,000,000		331,900,000
Incurred interest expense		400,000	$ 800,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, outstanding amount		$ 0		0
Inspire [Member] | Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Weighted average interest rate		2.17%
Maximum [Member] | Inspire [Member] | Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Line of credit facility. maximum borrowing capacity		$ 325,000,000
Second Amended And Restated Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility. maximum borrowing capacity	$ 800,000,000
Letter of credit sublimit	250,000,000
Second Amended And Restated Credit Agreement [Member] | Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, increased amount	$ 200,000,000
Second Amended And Restated Credit Agreement [Member] | Eurodollar Rate [Member] | Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.05%
Second Amended And Restated Credit Agreement [Member] | Eurodollar Rate [Member] | Maximum [Member] | Texas Capital Bank [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.65%
Second Amended And Restated Credit Agreement [Member] | Base Rate [Member] | Minimum [Member] | Texas Capital Bank [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.05%
Second Amended And Restated Credit Agreement [Member] | Base Rate [Member] | Maximum [Member] | Texas Capital Bank [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.65%
Senior Note 3.875% Due August 2029 [Member]
Debt Instrument [Line Items]
Interest rate		3.875%
Notes payable		$ 494,310,000		$ 494,117,000

Debt (Schedule of Outstanding D

Debt (Schedule of Outstanding Debt Obligations) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Notes payable	$ 1,010,961	$ 998,936
Revolving line of credit
Mortgage repurchase facilities	193,028	331,876
Total debt (Carrying amount)	1,203,989	1,330,812
Senior Note 3.875% Due August 2029 [Member]
Debt Instrument [Line Items]
Notes payable	$ 494,310	494,117
Interest rate	3.875%
Senior Notes 6.750% Due May 2027 [Member]
Debt Instrument [Line Items]
Notes payable	$ 495,785	495,581
Interest rate	6.75%
Other Financing Obligations [Member]
Debt Instrument [Line Items]
Notes payable	$ 20,866	$ 9,238

Interest (Schedule of Capitaliz

Interest (Schedule of Capitalized Interest Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest [Abstract]
Interest capitalized beginning of period	$ 53,379	$ 60,838
Interest capitalized during period	14,019	15,048
Less: capitalized interest in cost of sales	(12,146)	(18,377)
Interest capitalized end of period	$ 55,252	$ 57,509

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Income Tax Examination [Line Items]
Effective tax rate	25.50%		22.20%
Estimated Annual Tax Rate	25.50%
Difference Between Estimated Annual Tax Rate And Prior Year Effective Tax Rate	330.00%
Percentage of decrease related to rate impacted by discrete items	1.00%
Forecast [Member]
Income Tax Examination [Line Items]
Effective tax rate		25.50%
Blended federal and state statutary rate		24.70%
Decreased to effective tax rate		0.80%

Fair Value Disclosures (Narrati

Fair Value Disclosures (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Impairment charge	$ 0	$ 0

Fair Value Disclosures (Schedul

Fair Value Disclosures (Schedule of Assets and Liabilities Measured at Fair Value) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)$ / item	Dec. 31, 2021USD ($)$ / item
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for sale	$ 198,985	$ 353,063
Derivative liabilities		$ 359
Mortgage servicing rights, cost to service per year per loan | $ / item	0.090	0.085
Prepayment Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing rights rates	7.1	8.5
Discount Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing rights rates	9.9	9.9
Level 2 [Member] | Recurring [Member] | Mortgage Loan Held For Sale [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for sale	$ 198,985	$ 353,063
Level 2 [Member] | Recurring [Member] | Prepaid Expenses And Other Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	9,583	5,944
Level 2 [Member] | Recurring [Member] | Accrued Expenses And Other Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities		359
Level 3 [Member] | Recurring [Member] | Prepaid Expenses And Other Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for investment	16,509	13,456
Mortgage servicing rights	$ 18,050	$ 13,701

Fair Value Disclosures (Sched_2

Fair Value Disclosures (Schedule of Reconciliation of Level 3 Recurring at Fair Value) (Details) - Level 3 [Member] - Recurring [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Mortgage Servicing Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period	$ 13,701	$ 4,115
Originations	3,406	3,882
Settlements	(305)	(126)
Changes in fair value	1,248	378
End of period	18,050	8,249
Mortgage Loans Held-For-Investment [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period	13,456	8,727
Transfers from loans held for sale	4,166	1,400
Settlements	(975)
Reduction in unpaid principal balance	(64)	(49)
Changes in fair value	(74)
End of period	$ 16,509	$ 10,078

Fair Value Disclosures (Sched_3

Fair Value Disclosures (Schedule of Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 209,046	$ 316,310	$ 502,906
Senior notes	1,010,961	998,936
Revolving line of credit
Mortgage repurchase facilities	193,028	331,876
Senior Notes 3.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amounts include unamortized deferred financing costs, premiums and discounts	$ 5,700
Interest rate	3.875%
Senior Notes 5.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amounts include unamortized deferred financing costs, premiums and discounts		$ 4,400
Interest rate		5.875%
Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amounts include unamortized deferred financing costs, premiums and discounts	$ 4,200	$ 5,900
Interest rate	6.75%	6.75%
Level 1 [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 209,046	$ 316,310
Level 1 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	209,046	316,310
Level 2 [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured notes receivable	494,310	494,117
Revolving line of credit	193,028	331,876
Level 2 [Member] | Carrying Value [Member] | Senior Notes 3.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	495,785	495,581
Level 2 [Member] | Carrying Value [Member] | Senior Notes 5.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes
Level 2 [Member] | Carrying Value [Member] | Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	20,866	9,238
Level 2 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured notes receivable	446,250	504,375
Revolving line of credit	193,028	331,876
Level 2 [Member] | Fair Value [Member] | Senior Notes 3.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	515,000	526,875
Level 2 [Member] | Fair Value [Member] | Senior Notes 5.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes
Level 2 [Member] | Fair Value [Member] | Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 20,866	$ 9,238
Minimum [Member] | Insurance Premium Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	2.40%		2.99%
Maximum [Member] | Insurance Premium Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	3.24%		3.24%

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 4.1	$ 3
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	0.2	0.2
Grant date fair value	$ 64.37	$ 52.74
Awards vesting period	3 years
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested	0.3	0.3
Shares granted	0.5	0.2
Grant date fair value	$ 55.93	$ 58.28
Awards vesting period	3 years
Shares will vest if defined maximum performance targets are met	0.9
Shares will vest if defined maximum performance targets are not met	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	0.3	0.3
Performance Share Units [Member] | Tranche One [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target range	0.00%
Performance Share Units [Member] | Tranche Two [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target range	250.00%

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Outstanding RSUs and PSUs) (Details) - RSUs And PSUs [Member] shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested units | shares	1,026
Unrecognized compensation cost | $	$ 34,672
Weighted-average period to recognize compensation cost	1 year 11 months 19 days

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Nov. 27, 2019	May 08, 2019	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Nov. 06, 2018	May 10, 2017
Class of Stock [Line Items]
Common stock shares authorized			100,000,000		100,000,000
Common stock, par value			$ 0.01		$ 0.01
Preferred stock shares authorized			50,000,000		50,000,000
Preferred stock, par value			$ 0.01		$ 0.01
Common stock shares issued			33,038,361		33,760,940
Common stock shares outstanding			33,038,361		33,760,940
Preferred stock shares outstanding			0		0
Shares authorized to be repurchased						4,500,000
Treasury Stock Acquired, Average Cost Per Share			$ 61.52
Treasury Stock, Value, Acquired, Cost Method			$ 62.4
Treasury Stock, Shares, Acquired			1,000,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation			$ 12.1	$ 12.2
Treasury Stock, Retired, Cost Method, Amount			$ 62.4
Treasury Stock, Shares, Retired			1,000,000
Maximum [Member]
Class of Stock [Line Items]
Shares available to be purchased			2,799,552
First Amended And Restated 2013 Long-Term Incentive Plan [Member]
Class of Stock [Line Items]
Common stock shares for stock award issuance							1,800,000
2017 Incentive Plan [Member]
Class of Stock [Line Items]
Common stock shares rolled into plan							600,000
Amended 2017 Incentive Plan [Member]
Class of Stock [Line Items]
Additional shares authorized		1,600,000
Common stock shares for stock award, available for issuance			300,000
Vesting of stock-based compensation awards, shares			500,000	600,000
Distribution Agreement [Member]
Class of Stock [Line Items]
Aggregate offering price	$ 100
Available for sale, common stock			$ 100
Common stock shares sold and issued			0	0

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Dividends Declared) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)$ / shares
Stockholders' Equity [Abstract]
Declaration Date	Feb. 16, 2022
Record Date	Mar. 2, 2022
Payable Date	Mar. 16, 2022
Cash Dividends Declared, Per Share | $ / shares	$ 0.20
Cash Dividends Declared, Amount | $	$ 6,657

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Anti-dilutive shares related to PSU's granted	0.6	0.8

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator
Net income	$ 142,496	$ 101,652
Denominator
Weighted average common shares outstanding - basic	33,530,610	33,563,903
Dilutive effect of restricted stock units	411,624	320,372
Weighted average common shares outstanding - diluted	33,942,234	33,884,275
Earnings per share:
Basic	$ 4.25	$ 3.03
Diluted	$ 4.20	$ 3

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies [Abstract]
Outstanding letters of credit and performance bonds	$ 528.9	$ 492.5