Century Communities (CCS) 10-K 1 Feb 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Jan. 25, 2023	Jun. 30, 2022
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Period End Date	Dec. 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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1.3
Entity Common Stock, Shares Outstanding		31,772,791
Documents Incorporated by Reference	Part III of this Annual Report on Form 10-K incorporates by reference certain portions of the registrant’s definitive proxy statement for its 2023 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission not later than 120 days after the end of the fiscal year covered by this report.
Entity Central Index Key	0001576940
Auditor Name	Ernst & Young LLP
Auditor Location	Denver, Colorado
Auditor Firm ID	42

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 296,724	$ 316,310
Cash held in escrow	56,569	52,297
Accounts receivable	52,797	41,932
Inventories	2,830,645	2,456,614
Mortgage loans held for sale	203,558	353,063
Prepaid expenses and other assets	250,535	200,087
Property and equipment, net	31,688	24,939
Deferred tax assets, net	20,856	21,239
Goodwill	30,395	30,395
Total assets	3,773,767	3,496,876
Liabilities:
Accounts payable	106,926	84,679
Accrued expenses and other liabilities	299,588	316,877
Notes payable	1,019,412	998,936
Revolving line of credit
Mortgage repurchase facilities	197,626	331,876
Total liabilities	1,623,552	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, 31,772,791 and 33,760,940 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively	318	338
Additional paid-in capital	584,803	697,845
Retained earnings	1,565,094	1,066,325
Total stockholders' equity	2,150,215	1,764,508
Total liabilities and stockholders' equity	$ 3,773,767	$ 3,496,876

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
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	31,772,791	33,760,940
Common stock shares outstanding	31,772,791	33,760,940

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Total revenues	$ 4,505,916	$ 4,216,314	$ 3,161,192
Selling, general and administrative	(430,742)	(389,610)	(341,710)
Loss on debt extinguishment		(14,458)
Inventory impairment	(10,149)	(41)	(2,172)
Other expense	(17,856)	(3,142)	(2,211)
Income before income tax expense	676,900	641,122	270,240
Income tax expense	(151,774)	(142,618)	(64,083)
Net income	$ 525,126	$ 498,504	$ 206,157
Earnings per share:
Basic	$ 16.12	$ 14.79	$ 6.19
Diluted	$ 15.92	$ 14.47	$ 6.13
Weighted average common shares outstanding:
Basic	32,578,967	33,706,782	33,312,554
Diluted	32,977,935	34,444,918	33,610,098
Homebuilding [Member]
Revenues
Total revenues	$ 4,410,483	$ 4,092,576	$ 3,057,884
Cost of revenues	(3,315,994)	(3,095,363)	(2,490,062)
Home Sales [Member]
Revenues
Total revenues	4,393,786	4,032,969	3,027,167
Cost of revenues	(3,305,366)	(3,056,048)	(2,468,133)
Land Sales And Other [Member]
Revenues
Total revenues	16,697	59,607	30,717
Cost of revenues	(10,628)	(39,315)	(21,929)
Financial Services [Member]
Revenues
Total revenues	95,433	123,738	103,308
Cost of revenues	$ (54,275)	$ (72,578)	$ (54,797)

Consolidated Statements of Stoc

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, 2019	$ 331	$ 684,354	$ 377,014	$ 1,061,699
Beginning balance, shares at Dec. 31, 2019	33,067
Vesting of stock-based compensation awards and issuance of unrestricted common stock awards	$ (5)	5
Vesting of stock-based compensation awards and issuance of unrestricted common stock awards, shares	(454)
Withholding of common stock upon vesting of stock-based compensation awards	$ (2)	(5,098)		(5,100)
Withholding of common stock upon vesting of stock-based compensation awards, shares	(170)
Repurchases of common stock, shares
Stock-based compensation expense		18,334		18,334
Other		(385)		(385)
Net income			206,157	206,157
Ending balance at Dec. 31, 2020	$ 334	697,200	583,171	1,280,705
Ending balance, shares at Dec. 31, 2020	33,351
Vesting of stock-based compensation awards and issuance of unrestricted common stock awards	$ 7	(7)
Vesting of stock-based compensation awards and issuance of unrestricted common stock awards, shares	675
Withholding of common stock upon vesting of stock-based compensation awards	$ 3	13,723		13,726
Withholding of common stock upon vesting of stock-based compensation awards, shares	(265)
Stock-based compensation expense		14,377		14,377
Cash dividends declared and dividend equivalents		158	(15,350)	(15,192)
Other		(160)		(160)
Net income			498,504	498,504
Ending balance at Dec. 31, 2021	$ 338	697,845	1,066,325	1,764,508
Ending balance, shares at Dec. 31, 2021	33,761
Vesting of stock-based compensation awards and issuance of unrestricted common stock awards	$ 5	(5)
Vesting of stock-based compensation awards and issuance of unrestricted common stock awards, shares	518
Withholding of common stock upon vesting of stock-based compensation awards	$ 2	12,752		12,754
Withholding of common stock upon vesting of stock-based compensation awards, shares	(201)
Repurchases of common stock	$ (23)	(120,623)		(120,646)
Repurchases of common stock, shares	(2,305)
Stock-based compensation expense		20,049		20,049
Cash dividends declared and dividend equivalents		323	(26,357)	(26,034)
Other		(34)		(34)
Net income			525,126	525,126
Ending balance at Dec. 31, 2022	$ 318	$ 584,803	$ 1,565,094	$ 2,150,215
Ending balance, shares at Dec. 31, 2022	31,773

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income	$ 525,126	$ 498,504	$ 206,157
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	11,223	10,912	13,141
Stock-based compensation expense	20,049	14,377	18,334
Fair value of mortgage loans held for sale and other	11,036	5	(7,145)
Loss on debt extinguishment		14,458
Inventory impairment	10,149	41	2,172
Abandonment of lot option contracts	11,564	2,935	2,928
Deferred income taxes	383	(8,701)	(1,861)
Loss on disposition of assets	2,196	1,483	1,425
Changes in assets and liabilities:
Cash held in escrow	(4,272)	(29,148)	12,159
Accounts receivable	(10,865)	(20,238)	5,657
Inventories	(381,404)	(524,181)	68,378
Mortgage loans held for sale	139,956	(72,378)	(90,248)
Prepaid expenses and other assets	(19,896)	(79,413)	214
Accounts payable	22,247	(23,033)	22,918
Accrued expenses and other liabilities	(22,145)	13,224	86,349
Net cash provided by (used in) operating activities	315,347	(201,153)	340,578
Investing activities
Purchases of property and equipment	(20,406)	(11,576)	(9,004)
Proceeds from sale of property and equipment and intangible assets	238	2,666	482
Expenditures related to development of rental properties	(30,291)
Other investing activities	(3,805)	2,434	117
Net cash used in investing activities	(54,264)	(6,476)	(8,405)
Financing activities
Borrowings under revolving credit facilities	1,478,000	30,000	678,000
Payments on revolving credit facilities	(1,478,000)	(30,000)	(746,700)
Borrowing under construction loan agreements	7,389
Proceeds from issuance of insurance premium notes and other	26,278	21,484	5,778
Principal payments on insurance premium notes and other	(14,771)	(15,532)	(8,769)
Debt issuance costs		(6,159)	(392)
Net (payments) proceeds for mortgage repurchase facilities	(134,250)	72,826	84,955
Withholding of common stock upon vesting of stock-based compensation awards	(12,754)	(13,726)	(5,100)
Repurchases of common stock under stock repurchase program	(120,646)
Dividend payments	(26,034)	(15,192)
Other financing activities	(44)	(160)	(385)
Net cash (used in) provided by financing activities	(274,832)	131,789	7,387
Net (decrease) increase	(13,749)	(75,840)	339,560
Cash and cash equivalents and Restricted cash, Beginning of period	322,241	398,081	58,521
Cash and cash equivalents and Restricted cash, End of period	308,492	322,241	398,081
Supplemental cash flow disclosure
Cash paid for income taxes	168,117	155,590	48,789
Cash and cash equivalents and Restricted cash
Cash and cash equivalents	296,724	316,310	394,001
Restricted cash (Note 6)	11,768	5,931	4,080
Cash and cash equivalents and Restricted cash	$ 308,492	322,241	$ 398,081
Senior Notes Due 2029 [Member]
Financing activities
Proceeds from issuance of senior notes due 2029		500,000
Senior Notes Due 2025 [Member]
Financing activities
Extinguishment of senior notes due 2025		$ (411,752)

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Nature of Operations and Summary of Significant Accounting Policies [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	1. Nature of Operations and Summary of Significant Accounting Policies Nature of Operations 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 18 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 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. 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 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. Additionally, our wholly owned subsidiary, Century Living, LLC, is engaged in the development, construction and management of multi-family rental properties, primarily in Colorado, with the intent to dispose of properties shortly after achieving stabilized rental operations. Century Living, LLC is included in our Corporate segment. Principles of Consolidation The 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 U.S. generally accepted accounting principles (which we refer to as “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. Cash and Cash Equivalents The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. Cash Held in Escrow Cash held in escrow consists of amounts related to the proceeds from home closings held for our benefit in escrow, which are typically held for a few days. Accounts Receivable Accounts receivable primarily consists of rebates receivables, receivables under insurance policies, and income tax receivables. We periodically review the collectability of our accounts receivable, and, if it is determined that a receivable might not be fully collectible, an allowance is recorded for the amount deemed uncollectible. Inventories and Cost of Sales We capitalize pre-acquisition, land, development, and other allocated costs, including interest, during development, periods of entitlement, and home construction. Land, development, and other common costs are allocated to inventory using the relative-sales-value method; however, as lots within a project typically have comparable market values, we generally allocate land, development, and common costs equally to each lot within the project. Home construction costs are recorded using the specific-identification method. Cost of sales for homes closed includes the allocation of construction costs of each home and all applicable land acquisition, land development, and related common costs, both incurred and estimated to be incurred. Changes to estimated total development costs subsequent to initial home closings in a community are generally allocated to the remaining homes in the community. When a home is closed, the Company generally has not paid all incurred costs necessary to complete the home, and a liability and a charge to cost of home sales revenues are recorded for the amount that is estimated will ultimately be paid related to completed homes. We review all of our communities for indicators of impairment quarterly and record an impairment loss when conditions exist where the carrying amount of inventory is not recoverable and exceeds its fair value. Indicators of impairment include, but are not limited to, significant decreases in local housing market values and selling prices of comparable homes, significant decreases to gross margins, costs significantly in excess of budget, and actual or projected cash flow losses. When an indicator of impairment is identified, we prepare and analyze cash flows at the lowest level for which there are identifiable cash flows that are independent of the cash flows of other groups of assets, which we have determined as the community level. If the undiscounted cash flows are less than the community’s carrying value, we generally estimate the fair value using the estimated future discounted cash flows of the respective inventories. A community with a fair value less than its carrying value is impaired and is written down to fair value. Such losses, if any, are reported within homebuilding gross margin. When estimating undiscounted cash flows, we make various assumptions, including the following: the expected home sales revenue to be generated, including consideration of the number of homes available, pricing and incentives offered by us or other builders in comparable communities; the costs incurred to date and expected to be incurred including, but not limited to, land and land development costs, home construction costs, interest costs, indirect construction, and selling and marketing costs; any alternative product offerings that may be offered that could have an impact on sales, sales prices and/or building costs; and alternative uses for the property. D uring the year ended December 31, 2022, we determined that inventory with a carrying value before impairment of $ 59.8 million within 22 communities across our Century Complete, Southeast, and Texas segments was not recoverable. Accordingly, we recognized impairment charges of an aggregate $ 10.1 million in order to record the communities at fair value. The impairment charges are included in inventory impairment in our consolidated statements of operations. Home Sales Revenues and Profit Recognition As defined in the Accounting Standards Codification (which we refer to as “ASC”) 606, Revenue from Contracts with Customers (“ASC 606”), revenues from home sales and the related profit are recorded when our performance obligations are satisfied, which generally occurs when the respective homes are closed and title has passed to our homebuyers. We generally satisfy our performance obligations in less than one year from the contract date. Proceeds from home closings that are held for our benefit in escrow, are presented as cash held in escrow on our consolidated balance sheets. Cash held for our benefit in escrow is typically held by the escrow agent for a few days. When it is determined that the earnings process is not complete and we have remaining performance obligations that are material in the context of the contract, the related revenue and costs are deferred for recognition in future periods until those performance obligations have been satisfied. Prior to satisfying our performance obligations, we typically receive deposits from customers related to sold but undelivered homes and we collect these deposits at the time a homebuyer’s contract is accepted. These deposits are classified as earnest money deposits and are included in accrued expenses and other liabilities on our consolidated balance sheets. Earnest money deposits totaled $ 17.9 million and $ 56.8 million at December 31, 2022 and December 31, 2021, respectively. Performance Deposits We are occasionally required to make a land, bond, and utility deposit as each new development is started. These amounts typically are refundable as each home is delivered. Performance deposits are included in prepaid expenses and other assets on the consolidated balance sheets. Lot Option and Escrow Deposits We enter into lot option and purchase agreements with unrelated parties to acquire lots for the construction of homes. Under these agreements, we have paid deposits, which in many cases are non-refundable, in consideration for the right, but not the obligation, to purchase land or lots at a future point in time with predetermined terms. Lot option and escrow deposits are included in prepaid expenses and other assets on the consolidated balance sheets. We charge to expense non-refundable deposit and capitalized pre-acquisition costs, when it is probable that the lots will not be acquired. During the year ended December 31, 2022, 2021, and 2022 we terminated certain contracts in our markets that no longer met our investment criteria, resulting in a charges of $ 11.6 million, $ 2.9 million, and $ 2.9 million, respectively, which are included in other expense in our consolidated statements of operations. Model Homes and Sales Facilities Costs related to our model homes and sales facilities are treated in one of three ways depending on their nature. Costs directly attributable to the home including upgrades that are permanent and sold with the home are capitalized to inventory and included in cost of home sales revenues when the unit is closed to the homebuyer. Marketing related costs, such as non-permanent signage, brochures and marketing materials as well as the cost to convert the model into a salable unit are expensed as incurred. Costs to furnish the model home sites, permanent signage, and construction of sales facilities are capitalized to property and equipment and depreciated over the estimated life of the community based on the number of lots in the community which typically range from 1 to 3 years. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is charged to expense on the straight-line basis over the estimated useful life of each asset. The estimated useful lives for each major depreciable classification of property and equipment are as follows: Years Leasehold improvements, furniture and fixtures, and other 2 - 40 years Machinery and equipment 3 - 25 years Model furnishings 1 - 3 years Computer hardware and software 1 - 5 years Mortgage Loans Held for Sale and Financial Services Revenue Recognition Mortgage loans held for sale and mortgage servicing rights are carried at fair value , with gains and losses from the changes in fair value reflected in financial services revenue on the consolidated statements of operations. Management believes carrying mortgage 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. Net gains and losses from the sale of mortgage loans held for sale, which are recognized based upon the difference between the sales proceeds and carrying value of the related loans upon sale, are also included in financial services revenue on the consolidated statements of operations. Derivative instruments used to economically hedge our market and interest rate risk are carried at fair value. Derivative instruments typically include mortgage loans in process for which interest rates were committed to the borrowers (referred to as “interest rate lock commitments”), and forward commitments on mortgage-backed securities. Changes in fair value of these derivatives as well as any gains or losses upon settlement are reflected in financial services revenue on the consolidated statements of operations. Financial services revenue also includes loan origination fees, which represent revenue earned from originating mortgage loans that is recognized at the time the mortgage loans are funded and generally represent a fee based on a percentage of the original loan amount, and fees related to discount points paid by borrowers to reduce mortgage interest rates . Stock-Based Compensation We account for stock-based awards in accordance with ASC 718, Compensation—Stock Compensation . ASC 718 requires us to estimate the grant date fair value of stock-based compensation awards and to recognize the fair value as compensation costs over the requisite service period, which is generally three years, for all awards that vest. The fair value of our restricted stock units and awards in the form of unrestricted shares of common stock is equal to the closing price of our common stock on the New York Stock Exchange on the date of grant. Stock-based compensation expense associated with outstanding performance share units is measured using the grant date fair value and is based on the estimated achievement of the established performance criteria at the end of each reporting period until the performance period ends, recognized on a straight-line basis over the performance period. Stock-based compensation expense is only recognized for performance share units that we expect to vest, which we estimate based upon an assessment of the probability that the performance criteria will be achieved. The performance share units granted during the fiscal years ended December 31, 2022, 2021, and 2020 have three-year performance-based metrics measured over performance periods ending on December 31 for each three-year period. Stock-based compensation expense associated with outstanding performance share units is updated for actual forfeitures. Income Taxes We account for income taxes in accordance with ASC 740, Income Taxes , which requires recognition of deferred tax assets and liabilities at enacted income tax rates for the temporary differences between the financial reporting bases and the tax bases of its assets and liabilities. Any effects of changes in income tax rates or tax laws are included in the provision for income taxes in the period of enactment. When it is more likely than not that a portion or all of a deferred tax asset will not be realized in the future, the Company records a corresponding valuation allowance against the deferred tax asset. As of December 31, 2022 and 2021, we had no valuation allowance recorded against our deferred tax assets. In addition, when it is more likely than not that a tax position will be sustained upon examination by a tax authority that has full knowledge of all relevant information, the Company measures the amount of tax benefit from the position and records the largest amount of tax benefit that is more likely than not of being realized after settlement with a tax authority. The Company’s policy is to recognize interest to be paid on an underpayment of income taxes in interest expense and any related statutory penalties in the provision for income taxes on the consolidated statements of operations. As of December 31, 2022 and 2021 we had no reserves for uncertain tax positions. Goodwill We evaluate goodwill for possible impairment in accordance with ASC 350, Intangibles–Goodwill and Other, on an annual basis, or more frequently if events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We use a two step process to assess whether or not goodwill can be realized. The first step is a qualitative assessment that analyzes current economic indicators associated with a particular reporting unit. If the qualitative assessment indicates a stable or improved fair value, no further testing is required. If a qualitative assessment indicates that a significant decline to fair value of a reporting unit is more likely than not, we will proceed to the second step where we calculate the fair value of a reporting unit based on discounted future cash flows. If this step indicates that the carrying value of a reporting unit is in excess of its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. As of December 31, 2022 and 2021, we determined our goodwill was no t impaired. Business Combinations We account for business combinations in accordance with ASC 805, Business Combinations , if the acquired assets assumed and liabilities incurred constitute a business. We consider acquired companies to constitute a business if the acquired net assets and processes have the ability to create outputs in the form of revenue. For acquired companies constituting a business, we recognize the identifiable assets acquired and liabilities assumed at their acquisition-date fair values and recognize any excess of total consideration paid over the fair value of the identifiable net assets as goodwill. Variable Interest Entities (“VIEs”) We review land option contracts where we have a non-refundable deposit to determine whether the corresponding land seller is a VIE and, if so, whether we are the primary beneficiary. Although we do not have legal title to the underlying land, we are required to consolidate a VIE if we are the primary beneficiary. In determining whether we are the primary beneficiary, we consider, among other things, whether we have the power to direct the activities that most significantly impact the economic performance of the VIE. In making this determination, we consider whether we have the power to direct certain activities, including, but not limited to, determining or limiting the scope or purpose of the VIE, the ability to sell or transfer property owned or controlled by the VIE, or arranging financing for the VIE. As a result of our analysis, we determined that as of December 31, 2022 and 2021, we were not the primary beneficiary of any VIE from which we have acquired rights to land under the land option contract. As of December 31, 2022 and 2021, we had non-refundable cash deposits totaling $ 25.8 million and $ 38.1 million, respectively, classified in prepaid expenses and other assets in our consolidated balance sheets for land option contracts. The non-refundable deposit is our maximum exposure to loss for the transactions as of December 31, 2022 and 2021, respectively. Advertising and Marketing Costs Advertising and marketing costs are expensed as incurred and totaled $ 9.5 million, $ 7.7 million and $ 11.3 million for the years ended December 31, 2022, 2021 and 2020, respectively. Advertising and marketing costs are included in selling, general and administrative on the consolidated statements of operations. Reclassifications Certain prior period amounts have been reclassified to conform to current period presentation.

Reporting Segments

Reporting Segments	12 Months Ended
	Dec. 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 18 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 12 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 as of December 31, 2022:  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, Louisiana, Michigan, North Carolina, Ohio, South Carolina and Texas) Commencing in the first quarter of 2023, our Century Complete operations in Texas will be realigned and managed under our Century Communities Texas segment. 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 it serves 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. Additionally, our wholly owned subsidiary, Century Living, LLC, is engaged in the development, construction and management of multi-family rental properties, primarily in Colorado, with the intent to dispose of properties shortly after achieving stabilized rental operations. Century Living, LLC is included in our Corporate segment. The following table summarizes total revenue and income before income tax expense by segment (in thousands): Year Ended December 31, 2022 2021 2020 Revenue: West $ 1,075,507 $ 1,022,523 $ 683,138 Mountain 1,147,826 1,151,911 860,041 Texas 454,015 481,915 339,346 Southeast 726,100 663,728 672,790 Century Complete 1,007,035 772,499 502,569 Financial Services 95,433 123,738 103,308 Corporate — — — Total revenue $ 4,505,916 $ 4,216,314 $ 3,161,192 Income (loss) before income tax expense: West $ 218,546 $ 213,301 $ 71,417 Mountain 192,525 212,335 114,722 Texas 64,187 68,565 34,694 Southeast 139,038 92,420 57,181 Century Complete 124,153 109,213 33,449 Financial Services 41,158 51,160 48,511 Corporate ( 102,707 ) ( 105,872 ) ( 89,734 ) Total income before income tax expense $ 676,900 $ 641,122 $ 270,240 The following table summarizes total assets by segment (in thousands): December 31, December 31, 2022 2021 West $ 665,827 $ 668,830 Mountain 1,122,892 1,008,481 Texas 458,429 322,302 Southeast 415,887 360,644 Century Complete 426,564 371,096 Financial Services 372,284 533,159 Corporate 311,884 232,364 Total assets $ 3,773,767 $ 3,496,876 Corporate assets include certain cash and cash equivalents, certain property and equipment, costs associated with development of multi-family rental properties, prepaid insurance, and deferred financing costs on our revolving line of credit.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2022
Inventory [Abstract]
Inventory	3. Inventory Inventory included the following (in thousands): December 31, December 31, 2022 2021 Homes under construction $ 1,213,919 $ 1,188,270 Land and land development 1,554,951 1,214,965 Capitalized interest 61,775 53,379 Total inventories $ 2,830,645 $ 2,456,614

Financial Services

Financial Services	12 Months Ended
	Dec. 31, 2022
Financial Services [Abstract]
Financial Services	4. Financial Services Our Financial Services are principally comprised of our mortgage lending operations, 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. As of December 31, 2022 and 2021, Inspire had mortgage loans held for sale with an aggregate fair value of $ 203.6 million and $ 353.1 million, respectively, and an aggregate outstanding principal balance of $ 202.0 million and $ 342.0 million, respectively. Net gains on the sale of mortgage loans were $ 7.7 million, $ 87.3 million, and $ 80.4 million for the years ended December 31, 2022, 2021 and 2020, respectively, and are included in financial services revenue on the consolidated statements of operations. Losses from the change in fair value for mortgage loans held for sale were $ 9.5 million and $ 2.0 million for the years ended December 31, 2022 and 2021, respectively, and gains from the change in fair value for mortgage loans held for sale were $ 7.1 million for the year ended December 31, 2020, and are included in financial services revenue on the consolidated statements of operations. Mortgage loans in process for which interest rates were locked by borrowers, or interest rate lock commitments, totaled approximately $ 68.1 million and $ 164.3 million at December 31, 2022 and 2021, respectively, and carried a weighted average interest rate of approximately 6.1 % and 3.3 %, respectively. Interest rate risks related to these obligations are typically mitigated by the preselling of loans to investors or through our interest rate hedging program. Refer to Note 13 – Fair Value Disclosures for further information regarding our derivative instruments.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2022
Property and Equipment [Abstract]
Property and Equipment	5. Property and Equipment Property and equipment included the following (in thousands): December 31, December 31, 2022 2021 Leasehold improvements, furniture and fixtures, and other 9,015 10,038 Machinery and equipment 10,867 11,470 Model furnishings 15,069 24,427 Computer hardware and software 12,745 17,227 Property and equipment, gross 47,696 63,162 Less accumulated depreciation ( 16,008 ) ( 38,223 ) Property and equipment, net $ 31,688 $ 24,939

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	12 Months Ended
	Dec. 31, 2022
Prepaid Expenses and Other Assets [Abstract]
Prepaid Expenses and Other Assets	6. Prepaid Expenses and Other Assets Prepaid expenses and other assets included the following (in thousands): December 31, December 31, 2022 2021 Prepaid insurance $ 31,716 $ 37,814 Lot option and escrow deposits 48,354 61,649 Performance deposits 12,626 11,196 Deferred financing costs on revolving line of credit and construction loan agreements, net 4,581 5,135 Restricted cash (1) 11,768 5,931 Right of use assets 13,467 16,939 Multi-family rental properties under construction 56,615 19,330 Mortgage loans held for investment at fair value 18,875 10,631 Mortgage loans held for investment at amortized cost 6,574 2,825 Mortgage servicing rights 24,164 13,701 Derivative assets 1,958 5,944 Other assets and prepaid expenses 19,837 8,992 Total prepaid expenses and other assets $ 250,535 $ 200,087 (1) Restricted cash consists of restricted cash related to land development, 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	12 Months Ended
	Dec. 31, 2022
Accrued Expenses and Other Liabilities [Abstract]
Accrued Expenses and Other Liabilities	7. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities included the following (in thousands): December 31, December 31, 2022 2021 Earnest money deposits $ 17,903 $ 56,811 Warranty reserve 13,136 13,343 Self-insurance reserve 16,998 5,103 Accrued compensation costs 80,415 81,604 Land development and home construction accruals 128,483 88,155 Accrued interest 10,670 9,653 Lease liabilities - operating leases 13,947 17,359 Income taxes payable — 1,684 Derivative liabilities 1,526 359 Other accrued liabilities 16,510 42,806 Total accrued expenses and other liabilities $ 299,588 $ 316,877

Warranties

Warranties	12 Months Ended
	Dec. 31, 2022
Warranties [Abstract]
Warranties	8. 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 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 favorable warranty payment trends relative to our estimates at the time of home closing, we reduced our warranty reserve by $ 2.1 million, $ 5.4 million and $ 2.4 million during the years ended December 31, 2022, 2021 and 2020, respectively, which is included as a reduction to cost of home sales revenues on our consolidated statements of operations. Changes in our warranty accrual for the years ended December 31, 2022, 2021 and 2020 are detailed in the table below (in thousands): Year Ended December 31, 2022 2021 2020 Beginning balance $ 13,343 $ 13,824 $ 9,731 Warranty expense provisions 9,751 10,512 9,592 Payments ( 7,843 ) ( 5,615 ) ( 3,056 ) Warranty adjustment ( 2,115 ) ( 5,378 ) ( 2,443 ) Ending balance $ 13,136 $ 13,343 $ 13,824

Self-Insurance Reserve

Self-Insurance Reserve	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Self-Insurance Reserve	9. Self-Insurance Reserve We maintain general liability insurance coverage, including coverage for certain construction defects. These insurance policies protect us against a portion of the risk of loss from claims, subject to certain self-insured per occurrence and aggregate retentions, deductibles, and available policy limits. Prior to the year ended December 31, 2021, we generally maintained construction defect policies with lower self-insurance limits. In circumstances where we have elected to retain a higher portion of the overall risk for construction defect claims in return for a lower initial premium, we reserve for the estimated costs that we will incur that are above our coverage limits or that are not covered by our insurance policies. The reserve is recorded on an undiscounted basis at the time revenue is recognized for each home closing. Amounts accrued, which are included in accrued expenses and other liabilities on the consolidated balance sheets, are based on third party actuarial analyses that primarily rely upon industry data and partially on our historical claims to estimate overall costs, which include estimates of claims incurred but not yet reported. Adjustments to estimated reserves are recorded in the period in which the change in estimate occurs. Our self-insurance liability is presented on a gross basis without consideration of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any. Estimates of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any, are recorded as receivables when such recoveries are considered probable. Based on our third-party actuarial analyses, we increased our self-insurance reserve by $ 0.9 million during the year ended December 31, 2022 and did no t adjust the self-insurance reserve for the year ended December 31, 2021, respectively. These adjustments are included in cost of home sales revenues on our consolidated statements of operations. Changes in our self-insurance reserve for incurred but not reported construction defect claims for the years ended December 31, 2022, 2021 are detailed in the table below (in thousands) : Year Ended December 31, 2022 2021 Beginning balance $ 5,103 $ — Self-insurance expense provisions 11,051 5,103 Payments ( 7 ) — Self-insurance adjustment 851 — Ending balance $ 16,998 $ 5,103

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt [Abstract]
Debt	10. Debt Our outstanding debt obligations included the following as of December 31, 2022 and 2021 (in thousands): December 31, December 31, 2022 2021 3.875 % senior notes, due August 2029 (1) $ 494,884 $ 494,117 6.750 % senior notes, due May 2027 (1) 496,394 495,581 Other financing obligations (2) 28,134 9,238 Notes payable 1,019,412 998,936 Revolving line of credit — — Mortgage repurchase facilities 197,626 331,876 Total debt $ 1,217,038 $ 1,330,812 (1) The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest cost over the respective terms of the senior notes. (2) As of December 31, 2022, other financing obligations included $ 20.7 million related to insurance premium notes and certain secured borrowings, as well as $ 7.4 million outstanding under the Construction Loan Agreements. As of December 31, 2021, other financing obligations included $ 9.2 million related to insurance premium notes and certain secured borrowings. Issuance of 3.875% Senior Notes Due 2029 In August 2021, we completed a private offering of $ 500.0 million aggregate principal amount of our 3.875 % Senior Notes due 2029 (which we refer to as the “2029 Notes”) in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended (which we refer to as the “Securities Act”). The 2029 Notes were issued under an Indenture, dated as of August 23, 2021, among the Company, our subsidiary guarantors party thereto, and U.S. Bank National Association, as trustee (which we refer to as the “August 2021 Indenture,” as it may be supplemented or amended from time to time). The 2029 Notes were issued at 100% of their principal amount and we received proceeds of $ 493.8 million, net of $ 6.2 million in issuance costs. The August 2021 Indenture contains certain restrictive covenants on issuing future secured debt and other transactions. The aggregate principal balance of the 2029 Notes is due August 2029, with interest only payments due semi-annually in February and August of each year, beginning on February 15, 2022. As of December 31, 2022, the aggregate obligation, inclusive of unamortized financing costs on the 2029 Notes, was $ 494.9 million. 6.750% Senior Notes Due 2027 In May 2019, we completed a private offering of $ 500.0 million aggregate principal amount of the Company’s Initial 6.750 % Senior Notes due 2027 (which we refer to as the “Initial Notes due 2027”) in reliance on Rule 144A and Regulation S under the Securities Act of 1933. The Initial Notes due 2027 were issued under the Indenture, dated as of May 23, 2019, among the Company, our subsidiary guarantors party thereto, and U.S. Bank National Association, as trustee (which we refer to as the “May 2019 Indenture,” as it may be supplemented or amended from time to time). The Initial Notes due 2027 were issued at 100 % of their principal amount and we received net proceeds of $ 493.9 million. In connection with this issuance, we deferred $ 6.1 million of issuance costs, which is presented in the notes payable line item of the consolidated balance sheet. In February 2020, we completed an offer to exchange approximately $ 500.0 million in aggregate principal amount of our Initial Notes due 2027, which are registered under the Securities Act (which we refer to as the “Exchange Notes due 2027”), for an equivalent amount of the Initial Notes due 2027 that were tendered and accepted for exchange. The terms of the Exchange Notes due 2027 are identical in all material respects to the Initial Notes due 2027, except that the Exchange Notes due 2027 are registered under the Securities Act and the transfer restrictions, registration rights, and additional interest provisions that are applicable to the Initial Notes due 2027 do not apply to the Exchange Notes due 2027. The Initial Notes due 2027 and Exchange Notes due 2027 (which we refer to collectively, as the “Existing Notes due 2027”) will be treated as a single series of notes under the May 2019 Indenture, and will vote as a single class of notes for all matters submitted to a vote of holders under the May 2019 Indenture. The Existing Notes due 2027 are unsecured senior obligations which are guaranteed on an unsecured senior basis by certain of our current and future subsidiaries. The May 2019 Indenture governing the Existing Notes due 2027 contains certain restrictive covenants on issuing future secured debt and other transactions. The aggregate principal balance of the Existing Notes due 2027 is due July 2027, with interest only payments due semi-annually in June and December of each year, which began on December 1, 2019. As of December 31, 2022, the aggregate obligation, inclusive of unamortized financing costs on the Existing Notes due 2027, was $ 496.4 million. Redemption and Extinguishment of 5.875% Senior Notes Due 2025 During the year ended December 31, 2021, we redeemed $ 400.0 million in outstanding principal of our 5.875 % Senior Notes due 2025 at a redemption price equal to 102.938 % of the principal amount, plus accrued and unpaid interest, totaling $ 414.8 million. The redemption transaction resulted in a $ 14.5 million loss on debt extinguishment in our consolidated statements of operations for the year ended December 31, 2021. Other Financing Obligations As of December 31, 2022, other financing obligations included amounts related to insurance premium notes and certain secured borrowings, as well as outstanding borrowings under the Construction Loan Agreements. Insurance premium notes and certain secured borrowings As of December 31, 2022, we had $ 14.4 million of outstanding land development notes and $ 6.3 million of outstanding insurance premium notes, compared to no outstanding land development notes and $ 9.2 million outstanding insurance premium notes as of December 31, 2021. Construction Loan Agreements On August 9, 2022 and March 17, 2022, certain wholly owned subsidiaries of Century Living, LLC entered into construction loan agreements with PNC Bank, National Association and U.S. Bank National Association, a national banking association, d/b/a Housing Capital Company (which we collectively refer to as “the Lenders”), respectively. The construction loan agreements (which we refer to as the “Construction Loan Agreements”), collectively provide that we may borrow up to $ 128.0 million from the Lenders for purposes of construction of multi-family projects in Colorado, with advances made by the Lenders upon the satisfaction of certain conditions. Borrowings under the Construction Loan Agreements bear interest at floating interest rates per annum equal to the Secured Overnight Financing Rate (which we refer to as “SOFR”) and the Bloomberg Short-term Bank Yield Index, plus an applicable margin. The outstanding principal balances and all accrued and unpaid interest is due on varying maturity dates through August 9, 2026 , with the option to extend the maturity dates for a period of 12 months if certain conditions are satisfied. The Construction Loan Agreements contain customary affirmative and negative covenants (including covenants related to construction completion, and limitations on the use of loan proceeds, transfers of land, equipment, and improvements), as well as customary events of default. As of December 31, 2022, $ 7.4 million was outstanding under the Construction Loan Agreements, with borrowings bearing a weighted average interest rate of 5.634 % during the year ended December 31, 2022, and we were in compliance with all covenants thereunder. 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 provides us with a senior unsecured revolving line of credit (which we refer to as the “Credit Facility”) of up to $ 800.0 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 $ 200.0 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. On December 21, 2022, we entered into a First Modification Agreement with Texas Capital Bank (formerly known as Texas Capital Bank, National Association), as Administrative Agent, amending the Second A&R Credit Agreement pursuant to which, effective January 3, 2023, all existing borrowings using an interest rate based on a LIBOR reference rate had the interest rate replaced with one based on an adjusted term SOFR reference rate, which equals the greater of (i) 0.50% or (ii) the one-month quotation of the secured overnight financing rate administered by the Federal Reserve Bank of New York, plus 0.10%. As of December 31, 2022, no amounts were outstanding under the credit facility and were in compliance with all covenants. Mortgage Repurchase Facilities – Financial Services Inspire is party to mortgage warehouse facilities, with Comerica Bank, J.P. Morgan and Wells Fargo (which we refer to as the “Repurchase Facilities”), which provide Inspire with uncommitted repurchase facilities of up to an aggregate of $ 300.0 million as of December 31, 2022, secured by the mortgage loans financed thereunder. The Repurchase Facilities have varying short term maturity dates through December 21, 2023 and bear a weighted average interest rate of 3.523 % during the year ended December 31, 2022. 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 December 31, 2022 and 2021, we had $ 197.6 million and $ 331.9 million outstanding under these Repurchase Facilities, respectively, and were in compliance with all covenants thereunder. During the years ended December 31, 2022, 2021, and 2020, we incurred interest expense on our Repurchase Facilities of $ 2.0 million, $ 2.1 million, and $ 3.0 million, respectively, which are included in financial services costs on our consolidated statements of operations. Debt Maturities Aggregate annual maturities of debt as of December 31, 2022 are as follows (in thousands): 2023 $ 218,371 2024 — 2025 — 2026 7,389 2027 500,000 Thereafter 500,000 Total 1,225,760 Less: Discount and deferred financing costs, net on senior notes ( 8,722 ) Carrying amount $ 1,217,038 During the years ended December 31, 2022, 2021, and 2020, we paid approximately $ 61.1 million, $ 59.2 million, and $ 66.8 million, respectively, in interest expense payments .

Interest on Senior Notes and Re

Interest on Senior Notes and Revolving Line of Credit	12 Months Ended
	Dec. 31, 2022
Interest on Senior Notes and Revolving Line of Credit [Abstract]
Interest on Senior Notes and Revolving Line of Credit	11. Interest on Senior Notes and Revolving Line of Credit Interest on our senior notes and Revolving Line of Credit 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 years ended December 31, 2022, 2021, and 2020, we capitalized all interest costs incurred on these facilities during these periods. Our interest costs are as follows (in thousands): Year Ended December 31, 2022 2021 2020 Interest capitalized beginning of period $ 53,379 $ 60,838 $ 67,069 Interest capitalized during period 63,065 59,387 65,771 Less: capitalized interest in cost of sales ( 54,669 ) ( 66,846 ) ( 72,002 ) Interest capitalized end of period $ 61,775 $ 53,379 $ 60,838

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Taxes [Abstract]
Income Taxes	12. Income Taxes Our income tax expense for the years ended December 31, 2022, 2021 and 2020 comprises the following current and deferred amounts (in thousands): Year Ended December 31, 2022 2021 2020 Current Federal $ 119,255 $ 120,448 $ 51,741 State and local 32,136 30,871 14,203 Total current 151,391 151,319 65,944 Deferred Federal 361 ( 7,151 ) ( 1,375 ) State and local 22 ( 1,550 ) ( 486 ) Total deferred 383 ( 8,701 ) ( 1,861 ) Income tax expense $ 151,774 $ 142,618 $ 64,083 Total income tax expense differed from the amounts computed by applying the federal statutory income tax rate of 21 % for the years ended December 31, 2022, 2021, and 2020, to income before income taxes as a result of the following items (in thousands): Year Ended December 31, 2022 2021 2020 Statutory income tax expense $ 142,149 $ 134,636 $ 56,730 State income tax expense, net of federal income tax expense 26,284 24,123 11,153 Executive compensation 5,889 3,520 4,566 Excess tax benefits upon vesting of share based payment awards ( 675 ) ( 764 ) ( 108 ) Federal energy credits ( 18,324 ) ( 16,451 ) ( 8,549 ) State tax credits ( 635 ) ( 1,220 ) ( 900 ) Other ( 2,914 ) ( 1,226 ) 1,191 Income tax expense $ 151,774 $ 142,618 $ 64,083 Income tax expense for the years ended December 31, 2022, 2021, and 2020 was impacted by benefits of $ 18.3 million, $ 16.5 million, and $ 8.5 million, respectively, associated with the Energy Efficient Home Credit under Internal Revenue Code Section 45L (which we refer to as “Federal Energy Credits”). The Federal Energy Credits provided eligible contractors a federal income tax credit of $ 2,000 for each home delivered that meets the energy saving and certification requirements under the statute for homes delivered through December 31, 2022. The Inflation Reduction Act of 2022 expanded the Federal Energy Credits beginning January 1, 2023 and extended the Federal Energy Credits through 2032. Beginning January 1, 2023 through December 31, 2032, the Federal Energy Credits will provide a $ 2,500 or $ 5,000 tiered credit for new single-family homes meeting designated “Energy Star” or “Zero Energy” program requirements, respectively. Other income tax related provisions of the Inflation Reduction Act of 2022 had no material impact on the Company’s financial statements. Deferred income tax assets and liabilities are recognized for the future tax consequences of temporary differences. Temporary differences arise when revenues and expenses for financial reporting are recognized for tax purposes in a different period. ASC 740 requires that a valuation allowance be recorded against deferred tax assets unless it is more likely than not that the deferred tax assets will be utilized. As a result of this analysis, the Company has no t recorded a valuation allowance against its deferred tax assets. The Company will continue to evaluate the need to record valuation allowances against deferred tax assets and will make adjustments in accordance with the accounting standard. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31, 2022 and 2021 (in thousands): As of December 31, 2022 2021 Deferred tax assets Warranty reserves $ 3,221 $ 3,265 Stock-based compensation 1,320 770 Accrued compensation and other 13,614 16,151 Inventories, additional costs capitalized for tax 13,301 6,959 Lease liabilities 3,587 4,433 Other 4,443 2,205 Deferred tax asset 39,486 33,783 Deferred tax liabilities Prepaid expenses ( 362 ) ( 246 ) Property and equipment ( 7,791 ) ( 4,801 ) Mortgage servicing rights ( 5,925 ) ( 3,352 ) Right of use assets ( 3,302 ) ( 4,145 ) Other ( 1,250 ) - Deferred tax liability ( 18,630 ) ( 12,544 ) Net deferred tax asset $ 20,856 $ 21,239 The uncertainty provisions of ASC 740 also require the Company to recognize the impact of a tax position in its consolidated financial statements only if the technical merits of that position indicate that the position is more likely than not of being sustained upon audit. During the years ended December 31, 2022 and 202 1, the Company did no t record a reserve for uncertain tax positions. We file income tax returns in the U.S. federal jurisdiction and various state jurisdictions. We are subject to U.S. federal income tax and various state income tax examinations for calendar tax years ending 2017 through 2022 .

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Disclosures	13. 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 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 associated with interest rate lock commitments and investor commitments on loans and derivative liabilities are associated with forward commitments. F air 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 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 at fair value – The fair value of mortgage loans held for investment at fair value 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 December 31, 2022 and 2021, respectively (in thousands): December 31, December 31, Balance Sheet Classification Hierarchy 2022 2021 Mortgage loans held for sale Mortgage loans held for sale Level 2 $ 203,558 $ 353,063 Mortgage loans held for investment at fair value (1) Prepaid expenses and other assets Level 3 $ 18,875 $ 10,631 Derivative assets Prepaid expenses and other assets Level 2 $ 1,958 $ 5,944 Mortgage servicing rights (2) Prepaid expenses and other assets Level 3 $ 24,164 $ 13,701 Derivative liabilities Accrued expenses and other liabilities Level 2 $ 1,526 $ 359 (1) The unobservable inputs used in the valuation of the mortgage loans held for investment at fair value include 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 7.6 %, 9.0 %, and $ 0.072 per year per loan, respectively as of December 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 consolidated statements of operations (in thousands): Year Ended December 31, Mortgage servicing rights 2022 2021 Beginning of period $ 13,701 $ 4,115 Originations 7,552 10,295 Settlements ( 851 ) ( 920 ) Changes in fair value 3,762 211 End of period $ 24,164 $ 13,701 Year Ended December 31, Mortgage loans held-for-investment at fair value 2022 2021 Beginning of period $ 10,631 $ 7,476 Transfers from loans held for sale 9,757 5,480 Settlements ( 1,121 ) ( 2,235 ) Reduction in unpaid principal balance ( 295 ) ( 192 ) Changes in fair value ( 97 ) 102 End of period $ 18,875 $ 10,631 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 December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Hierarchy Carrying Fair Value Carrying Fair Value Cash and cash equivalents Level 1 $ 296,724 $ 296,724 $ 316,310 $ 316,310 3.875% senior notes (1)(2) Level 2 $ 494,884 $ 395,000 $ 494,117 $ 504,375 6.750% senior notes (1)(2) Level 2 $ 496,394 $ 477,500 $ 495,581 $ 526,875 Revolving line of credit (3) Level 2 $ — $ — $ — $ — Other financing obligations (3)(4) Level 3 $ 28,134 $ 28,134 $ 9,238 $ 9,238 Mortgage repurchase facilities (3) Level 2 $ 197,626 $ 197,626 $ 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 December 31, 2022, these amounts totaled $ 5.1 million and $ 3.6 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 3.875 % senior notes and 6.750 % senior notes, respectively. (3) Carrying amount approximates fair value due to short-term nature and interest rate terms. (4) Other financing obligations included $ 20.7 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 2.40 % to 5.84 %, and $ 7.4 million related to outstanding borrowings on the Construction Loan Agreements that bore a weighted average interest rate of 5.634 % during the period ended December 31, 2022. Other financing obligations included $ 9.2 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging 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. D uring the year ended December 31, 2022, we determined that inventory with a carrying value before impairment of $ 59.8 million within 22 communities across our Century Complete, Southeast, and Texas segments was not recoverable. Accordingly, we recognized impairment charges of an aggregate $ 10.1 million in order to record the communities at fair value. We recorded nominal impairment charges for one community during the year ended December 31, 2021. The estimated fair value of the communities was determined through a discounted cash flow approach utilizing Level 3 inputs. When estimating future discounted cash flows, we have utilized a discount rate of approximately 12 % in our valuations during the years ended December 31, 2022 and 2021, respectively. 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.

Post-Retirement Plan

Post-Retirement Plan	12 Months Ended
	Dec. 31, 2022
Post-Retirement Plan [Abstract]
Post-Retirement Plan	14. Post-Retirement Plan The Company has 401(k) plans available to substantially all employees. The Company generally makes matching contributions of 50 % of employees’ salary deferral amounts on the first 6 % of employees’ compensation. Contributions to the plans during the years ended December 31, 2022, 2021 and 2020 were $ 3.3 million, $ 3.2 million and $ 2.5 million, respectively.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2022
Stock-Based Compensation [Abstract]
Stock-Based Compensation	15. Stock-Based Compensation During the years ended December 31, 2022, 2021 and 2020, we granted performance share units (which we refer to as “PSUs”) covering up to 0.5 million, 0.2 million, and 0.3 million shares of common stock, respectively in each year, assuming maximum level of performance, with grant date fair values of $ 55.93 , $ 58.28 , and $ 26.38 , respectively, per share 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 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 year ended December 31, 2022 and 2021, we issued 0.3 million and 0.3 million shares of common stock, respectively, upon the vesting and settlement of PSU that were granted in previous periods. Approximately 0.9 million shares will vest from 2023 to 2025 if the defined maximum performance targets are met, and no shares will vest if the defined minimum performance targets are not met. During the years ended December 31, 2022, 2021 and 2020, we granted restricted stock units (which we refer to as “RSUs”) covering 0.2 million, 0.2 million and 0.4 million shares of common stock, respectively, with grant date fair values of $ 62.90 , $ 53.21 and $ 30.44 per share, respectively, that primarily vest over a three year period. During the years ended December 31, 2022 and 2021, we granted 11.0 thousand and 7.0 thousand shares of common stock, respectively, on an unrestricted basis (which we refer to as “stock awards”) with grant date fair values of $ 54.46 and $ 78.30 , respectively, to our non-employee directors. The following table summarizes the activity of our PSUs, assuming current estimated level of performance achievement, RSUs, and stock awards for the years ended December 31, 2022, 2021 and 2020 (in thousands): Year Ended December 31, 2022 2021 2020 Shares Weighted average per share grant date fair value Shares Weighted average per share grant date fair value Shares Weighted average per share grant date fair value Outstanding, beginning of year 1,104 $ 31.48 1,462 $ 26.76 1,219 $ 24.64 Granted 428 59.41 347 55.60 701 28.90 Vested ( 518 ) 27.17 ( 675 ) 29.31 ( 454 ) 24.42 Forfeited ( 37 ) 57.79 ( 30 ) 37.68 ( 4 ) 28.56 Outstanding, end of year 977 $ 50.78 1,104 $ 31.48 1,462 $ 26.76 During the years ended December 31, 2022, 2021 and 2020, the Company recognized stock-based compensation expense of $ 20.0 million, $ 14.4 million and $ 18.3 million, respectively, which is generally included in selling, general and administrative on the consolidated statements of operations . Stock-based compensation expense for PSUs is initially estimated based on target performance achievement and adjusted as appropriate throughout the performance period. Accordingly, future compensation cost associated with outstanding PSUs may increase or decrease based on the probability and extent of achievement with respect to the applicable performance measures. A summary of our outstanding PSUs, assuming current estimated level of performance achievement, and RSUs are as follows (in thousands, except years): As of December 31, 2022 Unvested units 977 Unrecognized compensation cost $ 19,932 Weighted-average period to recognize compensation cost 1.43

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity [Abstract]
Stockholders' Equity	16. Stockholders’ Equity The Company’s 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 December 31, 2022, and 2021, there were 31.8 million and 33.8 million shares of common stock issued and outstanding, respectively, and no shares of preferred stock outstanding. On May 4, 2022, the stockholders approved the adoption of the Century Communities, Inc. 2022 Omnibus Incentive Plan (which we refer to as the “2022 Incentive Plan”), which replaced the Century Communities, Inc. Amended and Restated 2017 Omnibus Incentive Plan (which we refer to as our “2017 Incentive Plan”). Under the 2022 Incentive Plan, 3.1 million shares of common stock are available for issuance to eligible participants, plus 51.2 thousand shares of our common stock that remained available for issuance under the 2017 Incentive Plan and any shares subject to awards outstanding under the 2017 Incentive Plan that are subsequently forfeited, cancelled, expire or otherwise terminate without the issuance of such shares. During the years ended December 31, 2022 and 2021, we issued 0.5 million and 0.7 million shares of common stock, respectively, related to the vesting and settlement of RSUs, PSUs, and stock awards. As of December 31, 2022, approximately 3.2 million shares of common stock remained available for issuance under the 2022 Incentive Plan. We are party to a Distribution Agreement with J.P. Morgan Securities LLC, BofA Securities, Inc., Wells Fargo Securities, LLC, 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. 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. We did no t sell or issue any shares of our common stock during the years ended December 31, 2022 and 2021, and as of December 31, 2022, all $ 100.0 million remained available for sale. We authorized a stock repurchase program in 2018, under which we may repurchase up to 4.5 million shares of our outstanding common stock. During the year ended December 31, 2022 an aggregate of 2.3 million shares, were repurchased for a total purchase price of approximately $ 120.6 million at a weighted average price of $ 52.32 per share. During the years ended December 31, 2021 and 2020, we did no t repurchase any shares of common stock. The maximum number of shares available to be purchased under the stock repurchase program as of December 31, 2022 was 1,508,169 shares. During the years ended December 31, 2022 and 2021, shares of common stock at a total cost of $ 12.7 million and $ 13.7 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 our publicly announced share repurchase programs. The following table sets forth cash dividends declared by our Board of Directors to holders of record of our common stock during the years ended December 31, 2022 and 2021, respectively (in thousands, except per share information): Year ended December 31, 2022 Cash Dividends Declared and Paid Declaration Date Record Date Paid Date Per Share Amount February 16, 2022 March 2, 2022 March 16, 2022 $ 0.20 $ 6,657 May 18, 2022 June 1, 2022 June 15, 2022 $ 0.20 $ 6,568 August 17, 2022 August 31, 2022 September 14, 2022 $ 0.20 $ 6,455 November 9, 2022 November 30, 2022 December 14, 2022 $ 0.20 $ 6,354 Year ended December 31, 2021 Cash Dividends Declared and Paid Declaration Date Record Date Paid Date Per Share Amount May 19, 2021 June 2, 2021 June 16, 2021 $ $ 0.15 $ 5,064 August 18, 2021 September 1, 2021 September 15, 2021 $ $ 0.15 $ 5,064 November 10, 2021 December 1, 2021 December 15, 2021 $ $ 0.15 $ 5,064 Under the 2022 Incentive Plan and the previous 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.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	17. Earnings Per Share During the years ended December 31, 2022, 2021 and 2020, we used the treasury stock method of calculating earnings per share (which we refer to as “EPS”) as our currently non-vested RSUs and PSUs do not have participating rights. The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2022, 2021 and 2020 (in thousands, except share and per share information): Year Ended December 31, 2022 2021 2020 Numerator Net income $ 525,126 $ 498,504 $ 206,157 Denominator Weighted average common shares outstanding - basic 32,578,967 33,706,782 33,312,554 Dilutive effect of restricted stock units 398,968 738,136 297,544 Weighted average common shares outstanding - diluted 32,977,935 34,444,918 33,610,098 Earnings per share: Basic $ 16.12 $ 14.79 $ 6.19 Diluted $ 15.92 $ 14.47 $ 6.13 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 0.5 million, 0.2 million, and 0.8 million common stock unit equivalents from diluted earnings per share during the years ended December 31, 2022, 2021 and 2020 respectively, related to the PSUs for which performance conditions remained unsatisfied.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies [Abstract]
Commitments and Contingencies	18 . Commitments and Contingencies Letters of Credit and Performance Bonds In the normal course of business, the Company posts letters of credit and performance and other bonds primarily related to our land development performance obligations, with local municipalities. As of December 31, 2022 and 2021, we had $ 574.8 million and $ 492.5 million, respectively, in letters of credit and performance and other bonds issued and outstanding. Leases The Company leases office space and equipment under non-cancelable operating leases, which have lease terms that generally range from 1 to 7 years and often include one or more options to renew. Operating lease expense was $ 7.9 million and $ 7.3 million for the years ended December 31, 2022 and 2021, respectively, which are presented on the consolidated statements of operations within selling, general, and administrative expense. Maturities of lease liabilities as of December 31, 2021 were as follows (in thousands): 2023 $ 6,100 2024 4,789 2025 2,603 2026 1,224 2027 36 Thereafter — Total $ 14,752 Less: discount ( 805 ) Total lease liabilities $ 13,947 Legal Proceedings The Company is 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 management that if the claims have merit, parties other than the Company would be, at least in part, liable for the claims, and 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 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 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.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2022
Nature of Operations and Summary of Significant Accounting Policies [Abstract]
Nature of Operations	Nature of Operations 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 18 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 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. 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 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. Additionally, our wholly owned subsidiary, Century Living, LLC, is engaged in the development, construction and management of multi-family rental properties, primarily in Colorado, with the intent to dispose of properties shortly after achieving stabilized rental operations. Century Living, LLC is included in our Corporate segment.
Principles of Consolidation	Principles of Consolidation The 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 U.S. generally accepted accounting principles (which we refer to as “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.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all liquid investments with original maturities of three months or less to be cash equivalents.
Cash Held in Escrow	Cash Held in Escrow Cash held in escrow consists of amounts related to the proceeds from home closings held for our benefit in escrow, which are typically held for a few days.
Accounts Receivable	Accounts Receivable Accounts receivable primarily consists of rebates receivables, receivables under insurance policies, and income tax receivables. We periodically review the collectability of our accounts receivable, and, if it is determined that a receivable might not be fully collectible, an allowance is recorded for the amount deemed uncollectible.
Inventories and Cost of Sales	Inventories and Cost of Sales We capitalize pre-acquisition, land, development, and other allocated costs, including interest, during development, periods of entitlement, and home construction. Land, development, and other common costs are allocated to inventory using the relative-sales-value method; however, as lots within a project typically have comparable market values, we generally allocate land, development, and common costs equally to each lot within the project. Home construction costs are recorded using the specific-identification method. Cost of sales for homes closed includes the allocation of construction costs of each home and all applicable land acquisition, land development, and related common costs, both incurred and estimated to be incurred. Changes to estimated total development costs subsequent to initial home closings in a community are generally allocated to the remaining homes in the community. When a home is closed, the Company generally has not paid all incurred costs necessary to complete the home, and a liability and a charge to cost of home sales revenues are recorded for the amount that is estimated will ultimately be paid related to completed homes. We review all of our communities for indicators of impairment quarterly and record an impairment loss when conditions exist where the carrying amount of inventory is not recoverable and exceeds its fair value. Indicators of impairment include, but are not limited to, significant decreases in local housing market values and selling prices of comparable homes, significant decreases to gross margins, costs significantly in excess of budget, and actual or projected cash flow losses. When an indicator of impairment is identified, we prepare and analyze cash flows at the lowest level for which there are identifiable cash flows that are independent of the cash flows of other groups of assets, which we have determined as the community level. If the undiscounted cash flows are less than the community’s carrying value, we generally estimate the fair value using the estimated future discounted cash flows of the respective inventories. A community with a fair value less than its carrying value is impaired and is written down to fair value. Such losses, if any, are reported within homebuilding gross margin. When estimating undiscounted cash flows, we make various assumptions, including the following: the expected home sales revenue to be generated, including consideration of the number of homes available, pricing and incentives offered by us or other builders in comparable communities; the costs incurred to date and expected to be incurred including, but not limited to, land and land development costs, home construction costs, interest costs, indirect construction, and selling and marketing costs; any alternative product offerings that may be offered that could have an impact on sales, sales prices and/or building costs; and alternative uses for the property. D uring the year ended December 31, 2022, we determined that inventory with a carrying value before impairment of $ 59.8 million within 22 communities across our Century Complete, Southeast, and Texas segments was not recoverable. Accordingly, we recognized impairment charges of an aggregate $ 10.1 million in order to record the communities at fair value. The impairment charges are included in inventory impairment in our consolidated statements of operations.
Home Sales Revenues and Profit Recognition	Home Sales Revenues and Profit Recognition As defined in the Accounting Standards Codification (which we refer to as “ASC”) 606, Revenue from Contracts with Customers (“ASC 606”), revenues from home sales and the related profit are recorded when our performance obligations are satisfied, which generally occurs when the respective homes are closed and title has passed to our homebuyers. We generally satisfy our performance obligations in less than one year from the contract date. Proceeds from home closings that are held for our benefit in escrow, are presented as cash held in escrow on our consolidated balance sheets. Cash held for our benefit in escrow is typically held by the escrow agent for a few days. When it is determined that the earnings process is not complete and we have remaining performance obligations that are material in the context of the contract, the related revenue and costs are deferred for recognition in future periods until those performance obligations have been satisfied. Prior to satisfying our performance obligations, we typically receive deposits from customers related to sold but undelivered homes and we collect these deposits at the time a homebuyer’s contract is accepted. These deposits are classified as earnest money deposits and are included in accrued expenses and other liabilities on our consolidated balance sheets. Earnest money deposits totaled $ 17.9 million and $ 56.8 million at December 31, 2022 and December 31, 2021, respectively.
Performance Deposits	Performance Deposits We are occasionally required to make a land, bond, and utility deposit as each new development is started. These amounts typically are refundable as each home is delivered. Performance deposits are included in prepaid expenses and other assets on the consolidated balance sheets.
Lot Option and Escrow Deposits	Lot Option and Escrow Deposits We enter into lot option and purchase agreements with unrelated parties to acquire lots for the construction of homes. Under these agreements, we have paid deposits, which in many cases are non-refundable, in consideration for the right, but not the obligation, to purchase land or lots at a future point in time with predetermined terms. Lot option and escrow deposits are included in prepaid expenses and other assets on the consolidated balance sheets. We charge to expense non-refundable deposit and capitalized pre-acquisition costs, when it is probable that the lots will not be acquired. During the year ended December 31, 2022, 2021, and 2022 we terminated certain contracts in our markets that no longer met our investment criteria, resulting in a charges of $ 11.6 million, $ 2.9 million, and $ 2.9 million, respectively, which are included in other expense in our consolidated statements of operations.
Model Homes and Sales Facilities	Model Homes and Sales Facilities Costs related to our model homes and sales facilities are treated in one of three ways depending on their nature. Costs directly attributable to the home including upgrades that are permanent and sold with the home are capitalized to inventory and included in cost of home sales revenues when the unit is closed to the homebuyer. Marketing related costs, such as non-permanent signage, brochures and marketing materials as well as the cost to convert the model into a salable unit are expensed as incurred. Costs to furnish the model home sites, permanent signage, and construction of sales facilities are capitalized to property and equipment and depreciated over the estimated life of the community based on the number of lots in the community which typically range from 1 to 3 years.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is charged to expense on the straight-line basis over the estimated useful life of each asset. The estimated useful lives for each major depreciable classification of property and equipment are as follows: Years Leasehold improvements, furniture and fixtures, and other 2 - 40 years Machinery and equipment 3 - 25 years Model furnishings 1 - 3 years Computer hardware and software 1 - 5 years
Mortgage Loans Held for Sale and Financial Services Revenue Recognition	Mortgage Loans Held for Sale and Financial Services Revenue Recognition Mortgage loans held for sale and mortgage servicing rights are carried at fair value , with gains and losses from the changes in fair value reflected in financial services revenue on the consolidated statements of operations. Management believes carrying mortgage 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. Net gains and losses from the sale of mortgage loans held for sale, which are recognized based upon the difference between the sales proceeds and carrying value of the related loans upon sale, are also included in financial services revenue on the consolidated statements of operations. Derivative instruments used to economically hedge our market and interest rate risk are carried at fair value. Derivative instruments typically include mortgage loans in process for which interest rates were committed to the borrowers (referred to as “interest rate lock commitments”), and forward commitments on mortgage-backed securities. Changes in fair value of these derivatives as well as any gains or losses upon settlement are reflected in financial services revenue on the consolidated statements of operations. Financial services revenue also includes loan origination fees, which represent revenue earned from originating mortgage loans that is recognized at the time the mortgage loans are funded and generally represent a fee based on a percentage of the original loan amount, and fees related to discount points paid by borrowers to reduce mortgage interest rates .
Stock-Based Compensation	Stock-Based Compensation We account for stock-based awards in accordance with ASC 718, Compensation—Stock Compensation . ASC 718 requires us to estimate the grant date fair value of stock-based compensation awards and to recognize the fair value as compensation costs over the requisite service period, which is generally three years, for all awards that vest. The fair value of our restricted stock units and awards in the form of unrestricted shares of common stock is equal to the closing price of our common stock on the New York Stock Exchange on the date of grant. Stock-based compensation expense associated with outstanding performance share units is measured using the grant date fair value and is based on the estimated achievement of the established performance criteria at the end of each reporting period until the performance period ends, recognized on a straight-line basis over the performance period. Stock-based compensation expense is only recognized for performance share units that we expect to vest, which we estimate based upon an assessment of the probability that the performance criteria will be achieved. The performance share units granted during the fiscal years ended December 31, 2022, 2021, and 2020 have three-year performance-based metrics measured over performance periods ending on December 31 for each three-year period. Stock-based compensation expense associated with outstanding performance share units is updated for actual forfeitures.
Income Taxes	Income Taxes We account for income taxes in accordance with ASC 740, Income Taxes , which requires recognition of deferred tax assets and liabilities at enacted income tax rates for the temporary differences between the financial reporting bases and the tax bases of its assets and liabilities. Any effects of changes in income tax rates or tax laws are included in the provision for income taxes in the period of enactment. When it is more likely than not that a portion or all of a deferred tax asset will not be realized in the future, the Company records a corresponding valuation allowance against the deferred tax asset. As of December 31, 2022 and 2021, we had no valuation allowance recorded against our deferred tax assets. In addition, when it is more likely than not that a tax position will be sustained upon examination by a tax authority that has full knowledge of all relevant information, the Company measures the amount of tax benefit from the position and records the largest amount of tax benefit that is more likely than not of being realized after settlement with a tax authority. The Company’s policy is to recognize interest to be paid on an underpayment of income taxes in interest expense and any related statutory penalties in the provision for income taxes on the consolidated statements of operations. As of December 31, 2022 and 2021 we had no reserves for uncertain tax positions.
Goodwill	Goodwill We evaluate goodwill for possible impairment in accordance with ASC 350, Intangibles–Goodwill and Other, on an annual basis, or more frequently if events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We use a two step process to assess whether or not goodwill can be realized. The first step is a qualitative assessment that analyzes current economic indicators associated with a particular reporting unit. If the qualitative assessment indicates a stable or improved fair value, no further testing is required. If a qualitative assessment indicates that a significant decline to fair value of a reporting unit is more likely than not, we will proceed to the second step where we calculate the fair value of a reporting unit based on discounted future cash flows. If this step indicates that the carrying value of a reporting unit is in excess of its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. As of December 31, 2022 and 2021, we determined our goodwill was no t impaired.
Business Combinations	Business Combinations We account for business combinations in accordance with ASC 805, Business Combinations , if the acquired assets assumed and liabilities incurred constitute a business. We consider acquired companies to constitute a business if the acquired net assets and processes have the ability to create outputs in the form of revenue. For acquired companies constituting a business, we recognize the identifiable assets acquired and liabilities assumed at their acquisition-date fair values and recognize any excess of total consideration paid over the fair value of the identifiable net assets as goodwill.
Variable Interest Entities ("VIEs")	Variable Interest Entities (“VIEs”) We review land option contracts where we have a non-refundable deposit to determine whether the corresponding land seller is a VIE and, if so, whether we are the primary beneficiary. Although we do not have legal title to the underlying land, we are required to consolidate a VIE if we are the primary beneficiary. In determining whether we are the primary beneficiary, we consider, among other things, whether we have the power to direct the activities that most significantly impact the economic performance of the VIE. In making this determination, we consider whether we have the power to direct certain activities, including, but not limited to, determining or limiting the scope or purpose of the VIE, the ability to sell or transfer property owned or controlled by the VIE, or arranging financing for the VIE. As a result of our analysis, we determined that as of December 31, 2022 and 2021, we were not the primary beneficiary of any VIE from which we have acquired rights to land under the land option contract. As of December 31, 2022 and 2021, we had non-refundable cash deposits totaling $ 25.8 million and $ 38.1 million, respectively, classified in prepaid expenses and other assets in our consolidated balance sheets for land option contracts. The non-refundable deposit is our maximum exposure to loss for the transactions as of December 31, 2022 and 2021, respectively.
Advertising and Marketing Costs	Advertising and Marketing Costs Advertising and marketing costs are expensed as incurred and totaled $ 9.5 million, $ 7.7 million and $ 11.3 million for the years ended December 31, 2022, 2021 and 2020, respectively. Advertising and marketing costs are included in selling, general and administrative on the consolidated statements of operations.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to current period presentation.

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Nature of Operations and Summary of Significant Accounting Policies [Abstract]
Schedule Of Estimated Lives Of Property Plant And Equipment	Years Leasehold improvements, furniture and fixtures, and other 2 - 40 years Machinery and equipment 3 - 25 years Model furnishings 1 - 3 years Computer hardware and software 1 - 5 years

Reporting Segments (Tables)

Reporting Segments (Tables)	12 Months Ended
	Dec. 31, 2022
Reporting Segments [Abstract]
Schedule of Total Revenue and Pretax Income (loss) by Segment	Year Ended December 31, 2022 2021 2020 Revenue: West $ 1,075,507 $ 1,022,523 $ 683,138 Mountain 1,147,826 1,151,911 860,041 Texas 454,015 481,915 339,346 Southeast 726,100 663,728 672,790 Century Complete 1,007,035 772,499 502,569 Financial Services 95,433 123,738 103,308 Corporate — — — Total revenue $ 4,505,916 $ 4,216,314 $ 3,161,192 Income (loss) before income tax expense: West $ 218,546 $ 213,301 $ 71,417 Mountain 192,525 212,335 114,722 Texas 64,187 68,565 34,694 Southeast 139,038 92,420 57,181 Century Complete 124,153 109,213 33,449 Financial Services 41,158 51,160 48,511 Corporate ( 102,707 ) ( 105,872 ) ( 89,734 ) Total income before income tax expense $ 676,900 $ 641,122 $ 270,240
Schedule of Total Assets by Segment	December 31, December 31, 2022 2021 West $ 665,827 $ 668,830 Mountain 1,122,892 1,008,481 Texas 458,429 322,302 Southeast 415,887 360,644 Century Complete 426,564 371,096 Financial Services 372,284 533,159 Corporate 311,884 232,364 Total assets $ 3,773,767 $ 3,496,876

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2022
Inventory [Abstract]
Schedule of Inventory	December 31, December 31, 2022 2021 Homes under construction $ 1,213,919 $ 1,188,270 Land and land development 1,554,951 1,214,965 Capitalized interest 61,775 53,379 Total inventories $ 2,830,645 $ 2,456,614

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property and Equipment [Abstract]
Schedule Of Property And Equipment	December 31, December 31, 2022 2021 Leasehold improvements, furniture and fixtures, and other 9,015 10,038 Machinery and equipment 10,867 11,470 Model furnishings 15,069 24,427 Computer hardware and software 12,745 17,227 Property and equipment, gross 47,696 63,162 Less accumulated depreciation ( 16,008 ) ( 38,223 ) Property and equipment, net $ 31,688 $ 24,939

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Accrued Expenses and Other Liabilities [Abstract]
Schedule of Accrued Expenses and Other Liabilities	December 31, December 31, 2022 2021 Earnest money deposits $ 17,903 $ 56,811 Warranty reserve 13,136 13,343 Self-insurance reserve 16,998 5,103 Accrued compensation costs 80,415 81,604 Land development and home construction accruals 128,483 88,155 Accrued interest 10,670 9,653 Lease liabilities - operating leases 13,947 17,359 Income taxes payable — 1,684 Derivative liabilities 1,526 359 Other accrued liabilities 16,510 42,806 Total accrued expenses and other liabilities $ 299,588 $ 316,877

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Prepaid Expenses and Other Assets [Abstract]
Schedule of Prepaid Expenses and Other Assets	December 31, December 31, 2022 2021 Prepaid insurance $ 31,716 $ 37,814 Lot option and escrow deposits 48,354 61,649 Performance deposits 12,626 11,196 Deferred financing costs on revolving line of credit and construction loan agreements, net 4,581 5,135 Restricted cash (1) 11,768 5,931 Right of use assets 13,467 16,939 Multi-family rental properties under construction 56,615 19,330 Mortgage loans held for investment at fair value 18,875 10,631 Mortgage loans held for investment at amortized cost 6,574 2,825 Mortgage servicing rights 24,164 13,701 Derivative assets 1,958 5,944 Other assets and prepaid expenses 19,837 8,992 Total prepaid expenses and other assets $ 250,535 $ 200,087 (1) Restricted cash consists of restricted cash related to land development, 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.

Warranties (Tables)

Warranties (Tables)	12 Months Ended
	Dec. 31, 2022
Warranties [Abstract]
Schedule of Changes in Warranty Accrual	Year Ended December 31, 2022 2021 2020 Beginning balance $ 13,343 $ 13,824 $ 9,731 Warranty expense provisions 9,751 10,512 9,592 Payments ( 7,843 ) ( 5,615 ) ( 3,056 ) Warranty adjustment ( 2,115 ) ( 5,378 ) ( 2,443 ) Ending balance $ 13,136 $ 13,343 $ 13,824

Self-Insurance Reserve (Tables)

Self-Insurance Reserve (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Self Insurance Reserve	Year Ended December 31, 2022 2021 Beginning balance $ 5,103 $ — Self-insurance expense provisions 11,051 5,103 Payments ( 7 ) — Self-insurance adjustment 851 — Ending balance $ 16,998 $ 5,103

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt [Abstract]
Schedule of Outstanding Debt Obligations	December 31, December 31, 2022 2021 3.875 % senior notes, due August 2029 (1) $ 494,884 $ 494,117 6.750 % senior notes, due May 2027 (1) 496,394 495,581 Other financing obligations (2) 28,134 9,238 Notes payable 1,019,412 998,936 Revolving line of credit — — Mortgage repurchase facilities 197,626 331,876 Total debt $ 1,217,038 $ 1,330,812 (1) The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest cost over the respective terms of the senior notes. (2) As of December 31, 2022, other financing obligations included $ 20.7 million related to insurance premium notes and certain secured borrowings, as well as $ 7.4 million outstanding under the Construction Loan Agreements. As of December 31, 2021, other financing obligations included $ 9.2 million related to insurance premium notes and certain secured borrowings.
Schedule of Aggregate Annual Maturities of Debt	2023 $ 218,371 2024 — 2025 — 2026 7,389 2027 500,000 Thereafter 500,000 Total 1,225,760 Less: Discount and deferred financing costs, net on senior notes ( 8,722 ) Carrying amount $ 1,217,038

Interest on Senior Notes and _2

Interest on Senior Notes and Revolving Line of Credit (Tables)	12 Months Ended
	Dec. 31, 2022
Interest on Senior Notes and Revolving Line of Credit [Abstract]
Schedule of Capitalized Interest Costs	Year Ended December 31, 2022 2021 2020 Interest capitalized beginning of period $ 53,379 $ 60,838 $ 67,069 Interest capitalized during period 63,065 59,387 65,771 Less: capitalized interest in cost of sales ( 54,669 ) ( 66,846 ) ( 72,002 ) Interest capitalized end of period $ 61,775 $ 53,379 $ 60,838

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes [Abstract]
Schedule of Income Tax Expense	Year Ended December 31, 2022 2021 2020 Current Federal $ 119,255 $ 120,448 $ 51,741 State and local 32,136 30,871 14,203 Total current 151,391 151,319 65,944 Deferred Federal 361 ( 7,151 ) ( 1,375 ) State and local 22 ( 1,550 ) ( 486 ) Total deferred 383 ( 8,701 ) ( 1,861 ) Income tax expense $ 151,774 $ 142,618 $ 64,083
Schedule of Components of Income Tax Expense by Expense	Year Ended December 31, 2022 2021 2020 Statutory income tax expense $ 142,149 $ 134,636 $ 56,730 State income tax expense, net of federal income tax expense 26,284 24,123 11,153 Executive compensation 5,889 3,520 4,566 Excess tax benefits upon vesting of share based payment awards ( 675 ) ( 764 ) ( 108 ) Federal energy credits ( 18,324 ) ( 16,451 ) ( 8,549 ) State tax credits ( 635 ) ( 1,220 ) ( 900 ) Other ( 2,914 ) ( 1,226 ) 1,191 Income tax expense $ 151,774 $ 142,618 $ 64,083
Schedule of Deferred Tax Assets and Liabilities	As of December 31, 2022 2021 Deferred tax assets Warranty reserves $ 3,221 $ 3,265 Stock-based compensation 1,320 770 Accrued compensation and other 13,614 16,151 Inventories, additional costs capitalized for tax 13,301 6,959 Lease liabilities 3,587 4,433 Other 4,443 2,205 Deferred tax asset 39,486 33,783 Deferred tax liabilities Prepaid expenses ( 362 ) ( 246 ) Property and equipment ( 7,791 ) ( 4,801 ) Mortgage servicing rights ( 5,925 ) ( 3,352 ) Right of use assets ( 3,302 ) ( 4,145 ) Other ( 1,250 ) - Deferred tax liability ( 18,630 ) ( 12,544 ) Net deferred tax asset $ 20,856 $ 21,239

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	December 31, December 31, Balance Sheet Classification Hierarchy 2022 2021 Mortgage loans held for sale Mortgage loans held for sale Level 2 $ 203,558 $ 353,063 Mortgage loans held for investment at fair value (1) Prepaid expenses and other assets Level 3 $ 18,875 $ 10,631 Derivative assets Prepaid expenses and other assets Level 2 $ 1,958 $ 5,944 Mortgage servicing rights (2) Prepaid expenses and other assets Level 3 $ 24,164 $ 13,701 Derivative liabilities Accrued expenses and other liabilities Level 2 $ 1,526 $ 359 (1) The unobservable inputs used in the valuation of the mortgage loans held for investment at fair value include 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 7.6 %, 9.0 %, and $ 0.072 per year per loan, respectively as of December 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	Year Ended December 31, Mortgage servicing rights 2022 2021 Beginning of period $ 13,701 $ 4,115 Originations 7,552 10,295 Settlements ( 851 ) ( 920 ) Changes in fair value 3,762 211 End of period $ 24,164 $ 13,701 Year Ended December 31, Mortgage loans held-for-investment at fair value 2022 2021 Beginning of period $ 10,631 $ 7,476 Transfers from loans held for sale 9,757 5,480 Settlements ( 1,121 ) ( 2,235 ) Reduction in unpaid principal balance ( 295 ) ( 192 ) Changes in fair value ( 97 ) 102 End of period $ 18,875 $ 10,631
Schedule of Carrying Values and Fair Values of Financial Instruments	December 31, 2022 December 31, 2021 Hierarchy Carrying Fair Value Carrying Fair Value Cash and cash equivalents Level 1 $ 296,724 $ 296,724 $ 316,310 $ 316,310 3.875% senior notes (1)(2) Level 2 $ 494,884 $ 395,000 $ 494,117 $ 504,375 6.750% senior notes (1)(2) Level 2 $ 496,394 $ 477,500 $ 495,581 $ 526,875 Revolving line of credit (3) Level 2 $ — $ — $ — $ — Other financing obligations (3)(4) Level 3 $ 28,134 $ 28,134 $ 9,238 $ 9,238 Mortgage repurchase facilities (3) Level 2 $ 197,626 $ 197,626 $ 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 December 31, 2022, these amounts totaled $ 5.1 million and $ 3.6 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 3.875 % senior notes and 6.750 % senior notes, respectively. (3) Carrying amount approximates fair value due to short-term nature and interest rate terms. (4) Other financing obligations included $ 20.7 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 2.40 % to 5.84 %, and $ 7.4 million related to outstanding borrowings on the Construction Loan Agreements that bore a weighted average interest rate of 5.634 % during the period ended December 31, 2022. Other financing obligations included $ 9.2 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 2.99 % to 3.24 % during the period ended December 31, 2021.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Stock-Based Compensation [Abstract]
Summary of Restricted Stock Award Activity	Year Ended December 31, 2022 2021 2020 Shares Weighted average per share grant date fair value Shares Weighted average per share grant date fair value Shares Weighted average per share grant date fair value Outstanding, beginning of year 1,104 $ 31.48 1,462 $ 26.76 1,219 $ 24.64 Granted 428 59.41 347 55.60 701 28.90 Vested ( 518 ) 27.17 ( 675 ) 29.31 ( 454 ) 24.42 Forfeited ( 37 ) 57.79 ( 30 ) 37.68 ( 4 ) 28.56 Outstanding, end of year 977 $ 50.78 1,104 $ 31.48 1,462 $ 26.76
Summary of Outstanding RSUs and PSUs	As of December 31, 2022 Unvested units 977 Unrecognized compensation cost $ 19,932 Weighted-average period to recognize compensation cost 1.43

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity [Abstract]
Schedule of Dividends Declared	Year ended December 31, 2022 Cash Dividends Declared and Paid Declaration Date Record Date Paid Date Per Share Amount February 16, 2022 March 2, 2022 March 16, 2022 $ 0.20 $ 6,657 May 18, 2022 June 1, 2022 June 15, 2022 $ 0.20 $ 6,568 August 17, 2022 August 31, 2022 September 14, 2022 $ 0.20 $ 6,455 November 9, 2022 November 30, 2022 December 14, 2022 $ 0.20 $ 6,354 Year ended December 31, 2021 Cash Dividends Declared and Paid Declaration Date Record Date Paid Date Per Share Amount May 19, 2021 June 2, 2021 June 16, 2021 $ $ 0.15 $ 5,064 August 18, 2021 September 1, 2021 September 15, 2021 $ $ 0.15 $ 5,064 November 10, 2021 December 1, 2021 December 15, 2021 $ $ 0.15 $ 5,064

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Year Ended December 31, 2022 2021 2020 Numerator Net income $ 525,126 $ 498,504 $ 206,157 Denominator Weighted average common shares outstanding - basic 32,578,967 33,706,782 33,312,554 Dilutive effect of restricted stock units 398,968 738,136 297,544 Weighted average common shares outstanding - diluted 32,977,935 34,444,918 33,610,098 Earnings per share: Basic $ 16.12 $ 14.79 $ 6.19 Diluted $ 15.92 $ 14.47 $ 6.13

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies [Abstract]
Maturities Of Lease Liabilities	2023 $ 6,100 2024 4,789 2025 2,603 2026 1,224 2027 36 Thereafter — Total $ 14,752 Less: discount ( 805 ) Total lease liabilities $ 13,947

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) segment item state	Dec. 31, 2021 USD ($) item	Dec. 31, 2020 USD ($)
Number of operating states | state	18
Number of operating segments | segment	5
Earnest money deposits	$ 17,900	$ 56,800
Number of communities impairment charges | item	22	1
Carrying Value Of Communities Before Impairment	$ 59,800
Inventory impairment	10,149	$ 41	$ 2,172
Non-refundable cash deposits classified in prepaid expenses and other assets	25,800	38,100
Advertising and marketing costs	9,500	7,700	11,300
Tax valuation allowance	0	0
Reserves for uncetain tax positions	0	0
Goodwill impairment	0	0
Abandonment of lot option contracts	$ 11,564	$ 2,935	$ 2,928
Model Homes And Sales Facilities [Member] | Minimum [Member]
Estimated useful life	1 year
Model Homes And Sales Facilities [Member] | Maximum [Member]
Estimated useful life	3 years

Nature of Operations and Summ_5

Nature of Operations and Summary of Significant Accounting Policies (Schedule Of Estimated Lives Of Property Plant And Equipment) (Details)	12 Months Ended
	Dec. 31, 2022
Leasehold Improvements, Furniture And Fixtures, And Other [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	2 years
Leasehold Improvements, Furniture And Fixtures, And Other [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years
Machinery And Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Machinery And Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	25 years
Model Furnishings [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	1 year
Model Furnishings [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Computer Hardware and Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	1 year
Computer Hardware and Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

Reporting Segments (Narrative)

Reporting Segments (Narrative) (Details)	12 Months Ended
	Dec. 31, 2022 state segment region
Segment Reporting Information [Line Items]
Number of operating states	18
Number of operating regions | region	4
Number of reportable segments | segment	5
Century Complete [Member]
Segment Reporting Information [Line Items]
Number of operating states	12

Reporting Segments (Schedule of

Reporting Segments (Schedule of Total Revenue and Pretax Income (loss) by Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 4,505,916	$ 4,216,314	$ 3,161,192
Total income before income tax expense	676,900	641,122	270,240
West [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	1,075,507	1,022,523	683,138
Total income before income tax expense	218,546	213,301	71,417
Mountain [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	1,147,826	1,151,911	860,041
Total income before income tax expense	192,525	212,335	114,722
Texas [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	454,015	481,915	339,346
Total income before income tax expense	64,187	68,565	34,694
Southeast [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	726,100	663,728	672,790
Total income before income tax expense	139,038	92,420	57,181
Century Complete [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	1,007,035	772,499	502,569
Total income before income tax expense	124,153	109,213	33,449
Financial Services [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	95,433	123,738	103,308
Total income before income tax expense	41,158	51,160	48,511
Corporate [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue
Total income before income tax expense	$ (102,707)	$ (105,872)	$ (89,734)

Reporting Segments (Schedule _2

Reporting Segments (Schedule of Total Assets by Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total assets	$ 3,773,767	$ 3,496,876
West [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	665,827	668,830
Mountain [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	1,122,892	1,008,481
Texas [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	458,429	322,302
Southeast [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	415,887	360,644
Century Complete [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	426,564	371,096
Financial Services [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	372,284	533,159
Corporate [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 311,884	$ 232,364

Inventory (Schedule of Inventor

Inventory (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Inventory [Abstract]
Homes under construction	$ 1,213,919	$ 1,188,270
Land and land development	1,554,951	1,214,965
Capitalized interest	61,775	53,379	$ 60,838	$ 67,069
Total inventories	$ 2,830,645	$ 2,456,614

Financial Services (Narrative)

Financial Services (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial Services [Line Items]
Mortgage loans held for sale	$ 203,558	$ 353,063
Net gains (losses) on the sale of mortgage loans	7,700	87,300	$ 80,400
Increase (Decrease) in Loans Held-for-sale	(9,500)	(2,000)	$ 7,100
Inspire [Member]
Financial Services [Line Items]
Mortgage loans in process	68,100	164,300
Mortgage loans held for sale	203,600	353,100
Mortgage loans held for sale aggregate outstanding principal balance	$ 202,000	$ 342,000
Inspire [Member] | Weighted Average [Member]
Financial Services [Line Items]
Interest rate	6.10%	3.30%

Property and Equipment - (Sched

Property and Equipment - (Schedule Of Property And Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment	$ 47,696	$ 63,162
Less accumulated depreciation	(16,008)	(38,223)
Total property and equipment, net	31,688	24,939
Leasehold Improvements, Furniture And Fixtures, And Other [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	9,015	10,038
Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	10,867	11,470
Model Furnishings [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	15,069	24,427
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 12,745	$ 17,227

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets (Schedule of Prepaid Expenses and Other Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Prepaid Expenses and Other Assets [Abstract]
Prepaid insurance	$ 31,716	$ 37,814
Lot option and escrow deposits	48,354	61,649
Performance deposits	12,626	11,196
Deferred financing costs on revolving line of credit, net	4,581	5,135
Restricted cash	11,768	5,931
Right of use assets	13,467	16,939
Multi-family rental properties under construction	56,615	19,330
Mortgage Loans Held For Investment, Fair Value	18,875	10,631
Mortgage loans held for investment at amortized cost	6,574	2,825
Mortgage servicing rights	24,164	13,701
Derivative assets	1,958	5,944
Other assets and prepaid expenses	19,837	8,992
Total prepaid expenses and other assets	$ 250,535	$ 200,087

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Schedule of Accrued Expenses and Other Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accrued Expenses and Other Liabilities [Abstract]
Earnest money deposits	$ 17,903	$ 56,811
Warranty reserve	13,136	13,343	$ 13,824	$ 9,731
Self-insurance reserve	16,998	5,103
Accrued compensation costs	80,415	81,604
Land development and home construction accruals	128,483	88,155
Accrued interest	10,670	9,653
Lease liabilities - operating leases	13,947	17,359
Income taxes payable		1,684
Derivative liabilities	1,526	359
Other accrued liabilities	16,510	42,806
Total accrued expenses and other liabilities	$ 299,588	$ 316,877

Warranties (Narrative) (Details

Warranties (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Warranties [Abstract]
Warranty reserve adjustment	$ (2,115)	$ (5,378)	$ (2,443)

Warranties (Schedule of Changes

Warranties (Schedule of Changes in Warranty Accrual) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Warranties [Abstract]
Beginning balance	$ 13,343	$ 13,824	$ 9,731
Warranty expense provisions	9,751	10,512	9,592
Payments	(7,843)	(5,615)	(3,056)
Warranty adjustment	(2,115)	(5,378)	(2,443)
Ending balance	$ 13,136	$ 13,343	$ 13,824

Self-Insurance Reserve (Narrati

Self-Insurance Reserve (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Insurance [Abstract]
Self-insurance adjustment	$ 851	$ 0

Self-Insurance Reserve (Details

Self-Insurance Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Insurance [Abstract]
Beginning balance	$ 5,103
Self-insurance expense provisions	11,051	$ 5,103
Payments	(7)
Self-insurance adjustment	851	0
Ending balance	$ 16,998	$ 5,103

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)			1 Months Ended		12 Months Ended
	May 21, 2021	Dec. 13, 2019	Aug. 31, 2021	May 31, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 17, 2022	Feb. 29, 2020
Debt Instrument [Line Items]
Notes payable					$ 1,019,412,000	$ 998,936,000
Line of credit facility, outstanding amount
Mortgage repurchase facilities					197,626,000	331,876,000
Land development notes, outstanding					14,400,000
Insurance premium notes, outstanding					6,300,000	9,200,000
Loss on debt extinguishment						(14,458,000)
Interest expense payments					$ 61,100,000	59,200,000	$ 66,800,000
Inspire [Member] | Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Weighted average interest rate					3.523%
Maturity date					Dec. 21, 2023
Maximum [Member] | Inspire [Member] | Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Line of credit facility. maximum borrowing capacity					$ 300,000,000
Master Repurchase Agreement [Member] | Comerica Bank And Wells Fargo [Member] | Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Incurred interest expense					2,000,000	2,100,000	$ 3,000,000
Master Repurchase Agreement [Member] | Inspire [Member] | Comerica Bank And Wells Fargo [Member] | Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Mortgage repurchase facilities					$ 197,600,000	331,900,000
Construction Loan Agreement [Member]
Debt Instrument [Line Items]
Weighted average interest rate					5.634%
Maturity date					Aug. 09, 2026
Line of credit facility. maximum borrowing capacity								$ 128,000,000
Notes payable					$ 7,400,000
Senior Note 3.875% Due August 2029 [Member]
Debt Instrument [Line Items]
Principal amount			$ 500,000,000
Interest rate			3.875%		3.875%
Amount borrowed from lender			$ 493,800,000
Notes payable					$ 494,884,000	494,117,000
Deferred issuance costs					6,200,000
Senior Notes 5.875% Due July 2025 [Member]
Debt Instrument [Line Items]
Principal amount					$ 400,000,000
Interest rate					5.875%
Percentage of redemption of principal plus accrued and unpaid interest					102.938%
Redemption amount of principal plus accrued and unpaid interest					$ 414,800,000
Loss on debt extinguishment					14,500,000
Initial 6.750% Senior Notes Due 2027 [Member]
Debt Instrument [Line Items]
Principal amount				$ 500,000,000
Interest rate				6.75%
Amount borrowed from lender				$ 493,900,000
Discount rate				100%
Maturity year				2027
Deferred issuance costs						$ 6,100,000
Exchange Notes Due 2027 [Member]
Debt Instrument [Line Items]
Principal amount									$ 500,000,000
Existing Notes Due 2027 [Member]
Debt Instrument [Line Items]
Notes payable					496,400,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, outstanding amount					$ 0
Revolving Credit Facility [Member] | Second Amended And Restated Credit Agreement [Member] | Texas Capital Bank [Member]
Debt Instrument [Line Items]
Maturity date	Apr. 30, 2026
Line of credit facility. maximum borrowing capacity	$ 800,000,000
Letter of credit sublimit	250,000,000
Revolving Credit Facility [Member] | Second Amended And Restated Credit Agreement [Member] | Maximum [Member] | Texas Capital Bank [Member]
Debt Instrument [Line Items]
Line of credit facility, increased amount	$ 200,000,000
Revolving Credit Facility [Member] | Second Amended And Restated Credit Agreement [Member] | Eurodollar Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.05%
Revolving Credit Facility [Member] | Second Amended And Restated Credit Agreement [Member] | Eurodollar Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.65%
Revolving Credit Facility [Member] | Second Amended And Restated Credit Agreement [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.05%
Revolving Credit Facility [Member] | Second Amended And Restated Credit Agreement [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.65%

Debt (Schedule of Outstanding D

Debt (Schedule of Outstanding Debt Obligations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Aug. 31, 2021
Debt Instrument [Line Items]
Notes payable	$ 1,019,412	$ 998,936
Revolving line of credit
Mortgage repurchase facilities	197,626	331,876
Total debt	1,217,038	1,330,812
Senior Note 3.875% Due August 2029 [Member]
Debt Instrument [Line Items]
Notes payable	$ 494,884	494,117
Interest rate	3.875%		3.875%
Maturity date	2029-08
Senior Notes 6.750% Due May 2027 [Member]
Debt Instrument [Line Items]
Notes payable	$ 496,394	495,581
Interest rate	6.75%
Maturity date	2027-05
Senior Notes 5.875% Due July 2025 [Member]
Debt Instrument [Line Items]
Interest rate	5.875%
Construction Loan Agreement [Member]
Debt Instrument [Line Items]
Notes payable	$ 7,400
Other Financing Obligations [Member]
Debt Instrument [Line Items]
Notes payable	28,134	9,238
Other Financing Obligations [Member] | Insurance Premium Notes And Certain Secured Borrowings [Member]
Debt Instrument [Line Items]
Notes payable	$ 20,700	$ 9,200

Debt (Schedule Of Aggregate Ann

Debt (Schedule Of Aggregate Annual Maturities Of Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt [Abstract]
2023	$ 218,371
2026	7,389
2027	500,000
Thereafter	500,000
Total	1,225,760
Less: Discount and deferred financing costs, net on senior notes	(8,722)
Total debt	$ 1,217,038	$ 1,330,812

Interest on Senior Notes and _3

Interest on Senior Notes and Revolving Line of Credit (Schedule of Capitalized Interest Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest on Senior Notes and Revolving Line of Credit [Abstract]
Interest capitalized beginning of period	$ 53,379	$ 60,838	$ 67,069
Interest capitalized during period	63,065	59,387	65,771
Less: capitalized interest in cost of sales	(54,669)	(66,846)	(72,002)
Interest capitalized end of period	$ 61,775	$ 53,379	$ 60,838

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Examination [Line Items]
Effective tax rate		21%	21%	21%
Tax valuation allowance		$ 0	$ 0
Reserves for uncetain tax positions		0	0
Income tax expense impacted by the benefit from Federal Energy Credits		18,324	16,451	$ 8,549
Federal income tax credit for each home meets the statute		2
Income tax expense		$ 151,774	$ 142,618	$ 64,083
Maximum [Member] | Federal [Member]
Income Tax Examination [Line Items]
Income tax year under examination		2022
Maximum [Member] | Federal [Member] | Forecast [Member]
Income Tax Examination [Line Items]
Federal income tax credit for each home meets the statute	$ 5,000
Minimum [Member] | Federal [Member]
Income Tax Examination [Line Items]
Income tax year under examination		2017
Minimum [Member] | Federal [Member] | Forecast [Member]
Income Tax Examination [Line Items]
Federal income tax credit for each home meets the statute	$ 2,500

Income Taxes (Schedule Of Incom

Income Taxes (Schedule Of Income Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Abstract]
Federal	$ 119,255	$ 120,448	$ 51,741
State and local	32,136	30,871	14,203
Total current	151,391	151,319	65,944
Federal	361	(7,151)	(1,375)
State and local	22	(1,550)	(486)
Total deferred	383	(8,701)	(1,861)
Income tax expense	$ 151,774	$ 142,618	$ 64,083

Income Taxes (Schedule Of Compo

Income Taxes (Schedule Of Components Of Income Tax Expense By Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Abstract]
Statutory income tax expense	$ 142,149	$ 134,636	$ 56,730
State income tax expense, net of federal income tax expense	26,284	24,123	11,153
Executive compensation	5,889	3,520	4,566
Excess tax benefits upon vesting of share based payment awards	(675)	(764)	(108)
Federal energy credits	(18,324)	(16,451)	(8,549)
State tax credits	(635)	(1,220)	(900)
Other	(2,914)	(1,226)	1,191
Income tax expense	$ 151,774	$ 142,618	$ 64,083

Income Taxes (Schedule Of Defer

Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Abstract]
Warranty reserves	$ 3,221	$ 3,265
Stock-based compensation	1,320	770
Accrued compensation and other	13,614	16,151
Inventories, additional costs capitalized for tax	13,301	6,959
Lease liabilities	3,587	4,433
Other	4,443	2,205
Deferred tax asset	39,486	33,783
Prepaid expenses	(362)	(246)
Property and equipment	(7,791)	(4,801)
Mortgage servicing rights	(5,925)	(3,352)
Right of use assets	(3,302)	(4,145)
Other	(1,250)
Deferred tax liability	(18,630)	(12,544)
Net deferred tax asset	$ 20,856	$ 21,239

Fair Value Disclosures (Narrati

Fair Value Disclosures (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($) item	Dec. 31, 2020 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of communities impairment charges | item	22	1
Impairment charge	$ 10,149	$ 41	$ 2,172
Carrying Value Of Communities Before Impairment	$ 59,800
Century Complete [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of communities impairment charges | item	22
Carrying Value Of Communities Before Impairment	$ 59,800
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rate	12%

Fair Value Disclosures (Schedul

Fair Value Disclosures (Schedule of Assets and Liabilities Measured at Fair Value) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / item	Dec. 31, 2021 USD ($) $ / item
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for sale	$ 203,558	$ 353,063
Derivative assets	1,958	5,944
Derivative liabilities	$ 1,526	$ 359
Mortgage servicing rights, cost to service per year per loan | $ / item	0.072	0.085
Prepayment Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing rights rates	7.6	8.5
Discount Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing rights rates	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	$ 203,558	$ 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	1,958	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	1,526	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	18,875	10,631
Mortgage servicing rights	$ 24,164	$ 13,701

Fair Value Disclosures (Sched_2

Fair Value Disclosures (Schedule of Reconciliation of Level 3 Recurring at Fair Value) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 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	7,552	10,295
Settlements	(851)	(920)
Changes in fair value	3,762	211
End of period	24,164	13,701
Mortgage Loans Held-For-Investment [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period	10,631	7,476
Transfers from loans held for sale	9,757	5,480
Settlements	(1,121)	(2,235)
Reduction in unpaid principal balance	(295)	(192)
Changes in fair value	(97)	102
End of period	$ 18,875	$ 10,631

Fair Value Disclosures (Sched_3

Fair Value Disclosures (Schedule of Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 296,724	$ 316,310	$ 394,001
Revolving line of credit
Mortgage repurchase facilities	197,626	331,876
Carrying amounts include unamortized deferred financing costs, premiums and discounts	8,722
Notes payable	1,019,412	998,936
Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	28,134	9,238
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	$ 5,100
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		6.75%
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	$ 3,600	$ 5,900
Interest rate	6.75%	3.875%
Construction Loan agreement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	$ 7,400
Debt, Weighted Average Interest Rate	5.634%
Insurance Premium Notes And Certain Secured Borrowings [Member] | Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	$ 20,700	$ 9,200
Level 1 [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	296,724	316,310
Level 1 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	296,724	316,310
Level 2 [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured notes receivable	494,884	494,117
Revolving line of credit	197,626	331,876
Level 2 [Member] | Carrying Value [Member] | Senior Notes 3.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	496,394	495,581
Level 2 [Member] | Carrying Value [Member] | Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	28,134	9,238
Level 2 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured notes receivable	395,000	504,375
Revolving line of credit	197,626	331,876
Level 2 [Member] | Fair Value [Member] | Senior Notes 3.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	477,500	526,875
Level 2 [Member] | Fair Value [Member] | Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	$ 28,134	$ 9,238
Minimum [Member] | Insurance Premium Notes And Certain Secured Borrowings [Member] | Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	2.40%	2.99%
Maximum [Member] | Insurance Premium Notes And Certain Secured Borrowings [Member] | Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	5.84%	3.24%

Post-Retirement Plan (Narrative

Post-Retirement Plan (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Post-Retirement Plan [Abstract]
Matching contribution, percentage	50%	50%	50%
Employer contribution, percent of employee's gross pay	6%	6%	6%
Contribution, amount	$ 3.3	$ 3.2	$ 2.5

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 20	$ 14.4	$ 18.3
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	200,000	200,000	400,000
Grant date fair value	$ 62.90	$ 53.21	$ 30.44
Awards vesting period	3 years
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	500,000	200,000	300,000
Grant date fair value	$ 55.93	$ 58.28	$ 26.38
Awards vesting period	3 years
Shares will vest if defined maximum performance targets are met	900,000
Shares will vest if defined maximum performance targets are not met	0
Performance Share Units [Member] | Tranche One [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target range	0%
Performance Share Units [Member] | Tranche One [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target range	250%
Performance Share Units, Vested In 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested	300,000	300,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	300,000	300,000
Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted		7,000
Grant date fair value		$ 78.30
Non-Employee Directors [Member] | Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	11,000
Grant date fair value	$ 54.46

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary Of Restricted Stock Award Activity) (Details) - RSUs, PSUs And RSAs [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Outstanding, beginning of year (shares)	1,104	1,462	1,219
Granted (shares)	428	347	701
Vested (shares)	(518)	(675)	(454)
Forfeited (shares)	(37)	(30)	(4)
Outstanding, end of year (shares)	977	1,104	1,462
Outstanding, beginning of year (Weighted average per share grant date fair value)	$ 31.48	$ 26.76	$ 24.64
Granted (Weighted average per share grant date fair value)	59.41	55.60	28.90
Vested (Weighted average per share grant date fair value)	27.17	29.31	24.42
Forfeited (Weighted average per share grant date fair value)	57.79	37.68	28.56
Outstanding, end of year (Weighted average per share grant date fair value)	$ 50.78	$ 31.48	$ 26.76

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary of Outstanding RSUs and PSUs) (Details) - RSUs And PSUs [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested units | shares	977
Unrecognized compensation cost | $	$ 19,932
Weighted-average period to recognize compensation cost	1 year 5 months 4 days

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Nov. 27, 2019	Dec. 31, 2022	Dec. 31, 2021	May 04, 2022	Nov. 30, 2018
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		31,772,791	33,760,940
Common stock shares outstanding		31,772,791	33,760,940
Preferred stock shares outstanding		0	0
Shares authorized to be repurchased					4,500,000
Shares available to be purchased		1,508,169
Common stock shares repurchased, shares
Treasury Stock Acquired, Average Cost Per Share		$ 52.32
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation		$ 12.7	$ 13.7
Treasury Stock, Shares, Retired		2,300,000
Treasury Stock, Retired, Cost Method, Amount		$ 120.6
Omnibus 2022 Incentive Plan [Member]
Class of Stock [Line Items]
Vesting of stock-based compensation awards and issuance of unrestricted common stock awards, shares		500,000	700,000
Common stock shares for stock award issuance		3,200,000		3,100,000
2017 Incentive Plan [Member]
Class of Stock [Line Items]
Common stock shares for stock award issuance				51,200
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) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Quarterly Dividend Q1 [Member]
Dividends Payable [Line Items]
Declaration Date	Feb. 16, 2022
Record Date	Mar. 02, 2022
Payable Date	Mar. 16, 2022
Cash Dividends Declared, Per Share	$ 0.20
Cash Dividends Declared, Amount	$ 6,657
Quarterly Dividend Q2 [Member]
Dividends Payable [Line Items]
Declaration Date	May 18, 2022	May 19, 2021
Record Date	Jun. 01, 2022	Jun. 02, 2021
Payable Date	Jun. 15, 2022	Jun. 16, 2021
Cash Dividends Declared, Per Share	$ 0.20	$ 0.15
Cash Dividends Declared, Amount	$ 6,568	$ 5,064
Quarterly Dividend Q3 [Member]
Dividends Payable [Line Items]
Declaration Date	Aug. 17, 2022	Aug. 18, 2021
Record Date	Aug. 31, 2022	Sep. 01, 2021
Payable Date	Sep. 14, 2022	Sep. 15, 2021
Cash Dividends Declared, Per Share	$ 0.20	$ 0.15
Cash Dividends Declared, Amount	$ 6,455	$ 5,064
Quarterly Dividend Q4 [Member]
Dividends Payable [Line Items]
Declaration Date	Nov. 09, 2022	Nov. 10, 2021
Record Date	Nov. 30, 2022	Dec. 01, 2021
Payable Date	Dec. 14, 2022	Dec. 15, 2021
Cash Dividends Declared, Per Share	$ 0.20	$ 0.15
Cash Dividends Declared, Amount	$ 6,354	$ 5,064

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Anti-dilutive shares related to PSU's granted	0.5	0.2	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	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator
Net income	$ 525,126	$ 498,504	$ 206,157
Denominator
Weighted average common shares outstanding - basic and diluted:	32,578,967	33,706,782	33,312,554
Weighted average common shares outstanding - basic	32,578,967	33,706,782	33,312,554
Dilutive effect of restricted stock units	398,968	738,136	297,544
Weighted average common shares outstanding - diluted	32,977,935	34,444,918	33,610,098
Earnings per share:
Basic	$ 16.12	$ 14.79	$ 6.19
Diluted	$ 15.92	$ 14.47	$ 6.13

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Outstanding letters of credit and performance bonds	$ 574.8	$ 492.5
Operating lease expense	$ 7.9	$ 7.3
Minimum [Member]
Lease term	1 year
Maximum [Member]
Lease term	7 years

Commitments and Contingencies_3

Commitments and Contingencies (Maturities Of Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 6,100
2024	4,789
2025	2,603
2026	1,224
2027	36
Total	14,752
Less: discount	(805)
Total lease liabilities	$ 13,947	$ 17,359