Century Communities (CCS) 10-Q 24 Jul 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 19, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-36491
Entity Registrant Name	Century Communities, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	68-0521411
Entity Address, Address Line One	8390 East Crescent Parkway
Entity Address, Address Line Two	Suite 650
Entity Address, City or Town	Greenwood Village
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80111
City Area Code	303
Local Phone Number	770-8300
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	CCS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,336,340
Entity Central Index Key	0001576940

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 106,682	$ 226,150
Cash held in escrow	44,823	101,845
Accounts receivable	78,260	76,213
Inventories	3,295,336	3,016,641
Mortgage loans held for sale	255,305	251,852
Prepaid expenses and other assets	404,315	350,193
Property and equipment, net	97,215	69,075
Deferred tax assets, net	17,426	16,998
Goodwill	32,082	30,395
Total assets	4,331,444	4,139,362
Liabilities:
Accounts payable	158,778	147,265
Accrued expenses and other liabilities	271,849	303,392
Notes payable	1,075,344	1,062,471
Revolving line of credit	111,000
Mortgage repurchase facilities	248,816	239,298
Total liabilities	1,865,787	1,752,426
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, 31,336,340 and 31,774,615 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	313	318
Additional paid-in capital	540,573	592,989
Retained earnings	1,924,771	1,793,629
Total stockholders' equity	2,465,657	2,386,936
Total liabilities and stockholders' equity	$ 4,331,444	$ 4,139,362

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Condensed Consolidated Balance Sheets [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock shares authorized	50,000,000	50,000,000
Preferred stock shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock shares authorized	100,000,000	100,000,000
Common stock shares issued	31,336,340	31,774,615
Common stock shares outstanding	31,336,340	31,774,615

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues
Total revenues	$ 1,039,450,000	$ 844,191,000	$ 1,987,994,000	$ 1,597,181,000
Selling, general and administrative	(125,973,000)	(105,120,000)	(240,082,000)	(203,433,000)
Inventory impairment	(570,000)	0	(570,000)	0
Other income (expense)	1,278,000	(1,344,000)	(8,353,000)	154,000
Income before income tax expense	110,633,000	68,748,000	194,952,000	112,757,000
Income tax expense	(26,909,000)	(17,303,000)	(46,897,000)	(28,001,000)
Net income	$ 83,724,000	$ 51,445,000	$ 148,055,000	$ 84,756,000
Earnings per share:
Basic	$ 2.65	$ 1.61	$ 4.67	$ 2.65
Diluted	$ 2.61	$ 1.60	$ 4.60	$ 2.63
Weighted average common shares outstanding:
Basic	31,648,130	32,025,186	31,728,544	31,970,106
Diluted	32,092,789	32,247,396	32,165,798	32,182,545
Homebuilding [Member]
Revenues
Total revenues	$ 1,017,791,000	$ 819,914,000	$ 1,941,409,000	$ 1,557,049,000
Cost of revenues	(787,556,000)	(657,209,000)	(1,513,164,000)	(1,258,594,000)
Home Sales [Member]
Revenues
Total revenues	1,017,414,000	818,360,000	1,939,816,000	1,553,960,000
Cost of revenues	(787,556,000)	(656,834,000)	(1,513,127,000)	(1,258,219,000)
Land Sales And Other [Member]
Revenues
Total revenues	377,000	1,554,000	1,593,000	3,089,000
Cost of revenues		(375,000)	(37,000)	(375,000)
Financial Services [Member]
Revenues
Total revenues	21,659,000	24,277,000	46,585,000	40,132,000
Cost of revenues	$ (15,996,000)	$ (11,770,000)	$ (30,873,000)	$ (22,551,000)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating activities
Net income	$ 148,055,000	$ 84,756,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	11,165,000	6,913,000
Stock-based compensation expense	10,710,000	14,291,000
Fair value of mortgage loans held for sale and other	(4,578,000)	(2,309,000)
Inventory impairment	570,000	0
Impairment on other investment	7,722,000
Purchase price accounting for acquired work in process inventory	2,553,000
Abandonment of lot option contracts	1,818,000	1,670,000
Deferred income taxes	(428,000)	426,000
(Gain) loss on disposition of assets	(2,187,000)	825,000
Changes in assets and liabilities:
Cash held in escrow	57,022,000	33,324,000
Accounts receivable	(1,442,000)	(7,196,000)
Inventories	(249,329,000)	(24,354,000)
Mortgage loans held for sale	(7,631,000)	6,400,000
Prepaid expenses and other assets	(32,058,000)	11,564,000
Accounts payable	11,402,000	39,632,000
Accrued expenses and other liabilities	(31,824,000)	(33,167,000)
Net cash (used in) provided by operating activities	(78,460,000)	132,775,000
Investing activities
Purchases of property and equipment	(23,492,000)	(8,843,000)
Proceeds from sale of property and equipment	11,014,000	130,000
Expenditures related to development of rental properties	(42,431,000)	(39,501,000)
Business combination and other investing activities	(32,716,000)	(391,000)
Net cash used in investing activities	(87,625,000)	(48,605,000)
Financing activities
Borrowings under revolving credit facilities	656,000,000
Payments on revolving credit facilities	(545,000,000)
Borrowing under construction loan agreements	27,965,000	13,757,000
Proceeds from issuance of insurance premium notes and other	11,166,000	3,032,000
Principal payments on insurance premium notes and other	(27,053,000)	(6,213,000)
Net proceeds (payments) for mortgage repurchase facilities	9,518,000	(6,602,000)
Withholding of common stock upon vesting of stock-based compensation awards	(10,424,000)	(10,643,000)
Repurchases of common stock under stock repurchase program	(53,139,000)	(1,969,000)
Dividend payments	(16,481,000)	(14,733,000)
Net cash provided by (used in) financing activities	52,552,000	(23,371,000)
Net (decrease) increase	(113,533,000)	60,799,000
Cash and cash equivalents and Restricted cash, Beginning of period	242,003,000	308,492,000
Cash and cash equivalents and Restricted cash, End of period	128,470,000	369,291,000
Supplemental cash flow disclosure
Cash paid for income taxes	55,611,000	19,295,000
Cash and cash equivalents and Restricted cash
Cash and cash equivalents	106,682,000	350,488,000
Restricted cash (Note 5)	21,788,000	18,803,000
Cash and cash equivalents and Restricted cash	$ 128,470,000	$ 369,291,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Dec. 31, 2022	$ 318	$ 584,803	$ 1,565,094	$ 2,150,215
Beginning balance, shares at Dec. 31, 2022	31,773
Vesting of stock-based compensation awards	$ 4	(4)
Vesting of stock-based compensation awards, shares	447
Withholding of common stock upon vesting of stock-based compensation awards	$ (2)	(10,641)		(10,643)
Withholding of common stock upon vesting of stock-based compensation awards, shares	(170)
Repurchases of common stock		(1,969)		(1,969)
Repurchases of common stock, shares	(30)
Stock-based compensation expense		14,291		14,291
Cash dividends declared and dividend equivalents		376	(15,109)	(14,733)
Net income			84,756	84,756
Ending balance at Jun. 30, 2023	$ 320	586,856	1,634,741	2,221,917
Ending balance, shares at Jun. 30, 2023	32,020
Beginning balance at Mar. 31, 2023	$ 320	580,489	1,590,832	2,171,641
Beginning balance, shares at Mar. 31, 2023	32,026
Vesting of stock-based compensation awards, shares	35
Withholding of common stock upon vesting of stock-based compensation awards		(763)		(763)
Withholding of common stock upon vesting of stock-based compensation awards, shares	(11)
Repurchases of common stock		(1,969)		(1,969)
Repurchases of common stock, shares	(30)
Stock-based compensation expense		8,931		8,931
Cash dividends declared and dividend equivalents		168	(7,536)	(7,368)
Net income			51,445	51,445
Ending balance at Jun. 30, 2023	$ 320	586,856	1,634,741	2,221,917
Ending balance, shares at Jun. 30, 2023	32,020
Beginning balance at Dec. 31, 2023	$ 318	592,989	1,793,629	2,386,936
Beginning balance, shares at Dec. 31, 2023	31,775
Vesting of stock-based compensation awards	$ 3	(3)
Vesting of stock-based compensation awards, shares	334
Withholding of common stock upon vesting of stock-based compensation awards	$ (1)	(10,423)		(10,424)
Withholding of common stock upon vesting of stock-based compensation awards, shares	(121)
Repurchases of common stock	$ (7)	(53,132)		(53,139)
Repurchases of common stock, shares	(652)
Stock-based compensation expense		10,710		10,710
Cash dividends declared and dividend equivalents		432	(16,913)	(16,481)
Net income			148,055	148,055
Ending balance at Jun. 30, 2024	$ 313	540,573	1,924,771	2,465,657
Ending balance, shares at Jun. 30, 2024	31,336
Beginning balance at Mar. 31, 2024	$ 318	569,581	1,849,377	2,419,276
Beginning balance, shares at Mar. 31, 2024	31,791
Vesting of stock-based compensation awards, shares	11
Withholding of common stock upon vesting of stock-based compensation awards		(10)		(10)
Withholding of common stock upon vesting of stock-based compensation awards, shares	(1)
Repurchases of common stock	$ (5)	(37,025)		(37,030)
Repurchases of common stock, shares	(465)
Stock-based compensation expense		7,914		7,914
Cash dividends declared and dividend equivalents		113	(8,330)	(8,217)
Net income			83,724	83,724
Ending balance at Jun. 30, 2024	$ 313	$ 540,573	$ 1,924,771	$ 2,465,657
Ending balance, shares at Jun. 30, 2024	31,336

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation Century Communities, Inc. (which we refer to as “we,” “CCS,” or the “Company”), together with its subsidiaries, is engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 18 states. In many of our projects, in addition to building homes, we entitle and develop the underlying land. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand has an emphasis on serving the entry-level homebuilding market but 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 opportunities. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade opportunities. 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, IHL Home Insurance Agency, LLC, and IHL Escrow Inc., which provide mortgage, title, insurance and escrow 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, currently all located in Colorado. Century Living, LLC is included in our Corporate segment. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (which we refer to as “GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (which we refer to as the “SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of our financial position and results of operations for the periods presented. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The financial statements and related notes do not include all information and footnotes required by GAAP and should be read in conjunction with the consolidated financial statements for the year ended December 31, 2023, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 that was filed with the SEC on February 5, 2024. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company, as well as all subsidiaries in which we have a controlling interest, and variable interest entities for which the Company is deemed to be the primary beneficiary. We do not have any variable interest entities in which we are deemed the primary beneficiary. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates. Business Acquisition On January 22, 2024, we closed on the acquisition of substantially all the assets of Landmark Homes of Tennessee, Inc. (“Landmark”), a homebuilder with operations, including six active communities, in Nashville, Tennessee, for approximately $ 33.4 million in cash, inclusive of customary holdbacks. Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board (which we refer to as “FASB”) issued Accounting Standards Update (which we refer to as “ASU”) No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 requires more disaggregated income tax disclosures, including additional information in the rate reconciliation and additional disclosures about income taxes paid. ASU 2023-09 will become effective for us for the fiscal year ending December 31, 2025. Early adoption is permitted, and guidance should be applied prospectively, with an option to apply guidance retrospectively. We are currently evaluating the impact of the adoption of ASU 2023-09 on our consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (which we refer to as “CODM”) and included within each reported measure of segment profit or loss. The guidance also expands disclosure requirements for interim periods, as well as requires disclosure of other segment items, including the title and position of the entity’s CODM . ASU 2023-07 will become effective for us for the fiscal year ending December 31, 2024, and for interim periods starting in our first quarter of 2025 . Early adoption is permitted, and guidance is required to be applied retrospectively. We are currently evaluating the impact of the adoption of ASU 2023-07 on our consolidated financial statements and related disclosures.

Reporting Segments

Reporting Segments	6 Months Ended
	Jun. 30, 2024
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 11 states and it is considered a separate operating segment. The management of our four Century Communities geographic regions and Century Complete reports to our chief operating decision makers (which we refer to as “CODMs”), the Co-Chief Executive Officers of our Company. The CODMs review the results of our operations, including total revenue and income before income tax expense to determine profitability and to allocate resources. Accordingly, we have presented our homebuilding operations as the following five reportable segments:  West (California and Washington)  Mountain (Arizona, Colorado, Nevada, and Utah)  Texas  Southeast (Florida, Georgia, North Carolina, South Carolina, and Tennessee)  Century Complete (Alabama, Arizona, Florida, Georgia, Indiana, Kentucky, Louisiana, Michigan, North Carolina, Ohio, South Carolina) We have identified our Financial Services operations, which provide mortgage, title, insurance and escrow services to our homebuyers, as a sixth reportable segment. Our Corporate operations are a non-operating segment, as our Corporate operations serve to support our homebuilding, and to a lesser extent our Financial Services operations, through functions, such as our executive, finance, treasury, human resources, accounting and legal departments. Additionally, our wholly owned subsidiary, Century Living, LLC, is engaged in the development, construction and management of multi-family rental properties, currently all located in Colorado. Century Living, LLC is included in our Corporate segment. The following table summarizes total revenue and income (loss) before income tax expense by segment (in thousands ): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue: West $ 203,677 $ 139,292 $ 376,325 $ 268,373 Mountain 258,921 230,103 513,200 476,378 Texas 146,007 126,618 277,280 216,150 Southeast 154,149 117,320 315,807 204,446 Century Complete 255,037 206,581 458,797 391,702 Financial Services 21,659 24,277 46,585 40,132 Corporate — — — — Total revenue $ 1,039,450 $ 844,191 $ 1,987,994 $ 1,597,181 Income (loss) before income tax expense: West $ 32,169 $ 14,966 $ 58,876 $ 22,939 Mountain 34,365 24,689 62,173 52,497 Texas 17,831 11,452 31,703 15,125 Southeast 25,843 17,992 46,639 29,958 Century Complete 29,036 16,348 50,136 30,298 Financial Services 5,663 12,507 15,712 17,581 Corporate ( 34,274 ) ( 29,206 ) ( 70,287 ) ( 55,641 ) Total income before income tax expense $ 110,633 $ 68,748 $ 194,952 $ 112,757 The following table summarizes total assets by segment (in thousands): June 30, December 31, 2024 2023 West $ 815,259 $ 786,489 Mountain 1,055,488 1,051,052 Texas 655,314 577,129 Southeast 584,733 503,249 Century Complete 467,331 386,444 Financial Services 440,189 450,208 Corporate 313,130 384,791 Total assets $ 4,331,444 $ 4,139,362 Corporate assets primarily include costs associated with development of multi-family rental properties, certain cash and cash equivalents, certain property and equipment, deferred tax assets, certain receivables, and prepaid insurance.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventories [Abstract]
Inventories	3. Inventories Inventories included the following (in thousands): June 30, December 31, 2024 2023 Homes under construction $ 1,588,643 $ 1,334,584 Land and land development 1,628,763 1,609,459 Capitalized interest 77,930 72,598 Total inventories $ 3,295,336 $ 3,016,641

Financial Services

Financial Services	6 Months Ended
	Jun. 30, 2024
Financial Services [Abstract]
Financial Services	4. Financial Services Our Financial Services are principally comprised of our mortgage lending operations, Inspire Home Loans Inc. (which we refer to as “Inspire”). Inspire is a full-service mortgage lender and primarily originates mortgage loans for our homebuyers. Inspire sells substantially all of the loans it originates either as loans with servicing rights released, or with servicing rights retained, in the secondary mortgage market within a short period of time after origination, generally within 30 days. Inspire primarily finances these loans using its mortgage repurchase facilities. Mortgage loans 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. Financial services revenue also includes fees earned from originating mortgage loans which are recognized at the time the mortgage loans are funded, which include origination fees and discount points to reduce interest rates based on commitment agreements entered into between our homebuilding and Financial Services segments. As of June 30, 2024 and December 31, 2023, Inspire had mortgage loans held for sale with an aggregate fair value of $ 255.3 million and $ 251.9 million, respectively, and an aggregate outstanding principal balance of $ 255.3 million and $ 247.7 million, respectively. Net losses on the sale of mortgage loans were $ 5.8 million and $ 3.8 million for the three and six months ended June 30, 2024 , respectively, and net gains on the sale of mortgage loans were $ 1.7 million and $ 3.5 million for the three and six months ended June 30, 2023, respectively. The gain from the change in fair value for mortgage loans held for sale was $ 0.9 million for the three months ended June 30, 2024, and the loss from the change in fair value for mortgage loans held for sale was $ 4.2 million for the six months ended June 30, 2024. Losses from the change in fair value for mortgage loans held for sale were $ 2.0 million for both the three and six months ended June 30, 2023, respectively. Mortgage loans in process for which interest rates were locked by borrowers, or interest rate lock commitments, totaled approximately $ 125.0 million and $ 49.6 million at June 30, 2024 and December 31, 2023, respectively, and carried a weighted average interest rate of approximately 5.9 % and 5.8 %, respectively . Interest rate risks related to these obligations are typically mitigated through our interest rate hedging program or by the preselling of loans to investors. Derivative instruments used to economically hedge our market and interest rate risk are carried at fair value. Derivative instruments typically include 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 our condensed consolidated statements of operations. Refer to Note 12 – Fair Value Disclosures for further information regarding our derivative instruments.

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	6 Months Ended
	Jun. 30, 2024
Prepaid Expenses and Other Assets [Abstract]
Prepaid Expenses and Other Assets	5. Prepaid Expenses and Other Assets Prepaid expenses and other assets included the following (in thousands): June 30, December 31, 2024 2023 Prepaid insurance $ 29,596 $ 37,624 Lot option and escrow deposits 86,773 51,369 Performance deposits 9,793 10,170 Restricted cash (1) 21,788 15,853 Multi-family rental properties under construction 158,249 136,300 Mortgage loans held for investment at fair value 21,763 21,041 Mortgage loans held for investment at amortized cost 6,730 6,826 Mortgage servicing rights 34,070 30,932 Derivative assets 3,823 1,618 Other assets and prepaid expenses 31,730 38,460 Total prepaid expenses and other assets $ 404,315 $ 350,193 (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 compensating balances associated with our mortgage repurchase facilities and other financing obligations.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2024
Accrued Expenses and Other Liabilities [Abstract]
Accrued Expenses and Other Liabilities	6. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities included the following (in thousands): June 30, December 31, 2024 2023 Earnest money deposits $ 18,807 $ 7,933 Warranty reserve 11,598 11,524 Self-insurance reserve 27,684 23,659 Accrued compensation costs 50,022 80,133 Land development and home construction accruals 113,011 120,224 Accrued interest 11,693 10,404 Income taxes payable — — Derivative liabilities — 5,291 Other accrued liabilities 39,034 44,224 Total accrued expenses and other liabilities $ 271,849 $ 303,392

Warranties

Warranties	6 Months Ended
	Jun. 30, 2024
Warranties [Abstract]
Warranties	7. Warranties Estimated future direct warranty costs are accrued and charged to cost of home sales revenues in the period when the related home sales revenues are recognized. Amounts accrued, which are included in accrued expenses and other liabilities on the condensed consolidated balance sheets, are based upon historical experience rates. We subsequently assess the adequacy of our warranty accrual on a quarterly basis through a model that incorporates historical payment trends and adjust the amounts recorded, if necessary. Based on warranty payment trends relative to our estimates at the time of home closing, we reduced our warranty reserve by $ 0.2 million and $ 0.2 million during the three months ended June 30, 2024 and 2023, respectively, and we reduced our warranty reserve by $ 1.5 million and $ 0.7 million during the six months ended June 30, 2024 and 2023, respectively. These adjustments are included in cost of home sales revenues on our condensed consolidated statements of operations. Changes in our warranty accrual for the three and six months ended June 30, 2024 and 2023 are detailed in the table below (in thousands) : Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Beginning balance $ 11,212 $ 12,331 $ 11,524 $ 13,136 Warranty expense provisions 2,470 2,472 5,140 4,301 Payments ( 1,841 ) ( 1,593 ) ( 3,532 ) ( 3,769 ) Warranty adjustment ( 243 ) ( 226 ) ( 1,534 ) ( 684 ) Ending balance $ 11,598 $ 12,984 $ 11,598 $ 12,984

Self-Insurance Reserve

Self-Insurance Reserve	6 Months Ended
	Jun. 30, 2024
Self-Insurance Reserve [Abstract]
Self-Insurance Reserve	8. Self-Insurance Reserve We maintain general liability insurance coverage, including coverage for certain construction defects after homes have closed and premise operations during construction. These insurance policies are designed to 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. 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 self-insured retention 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 condensed consolidated balance sheets, are based on third party actuarial analyses that are primarily based on industry data and partially on our historical claims, 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. During the three and six months ended June 30, 2024 and 2023, we recorded no adjustment to our self-insurance reserve. Any adjustments are included in cost of home sales revenues on our condensed consolidated statements of operations. Changes in our self-insurance reserve for incurred but not reported construction defect claims for the three and six months ended June 30, 2024 and 2023 are detailed in the table below (in thousands) : Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Beginning balance $ 25,652 $ 19,076 $ 23,659 $ 16,998 Self-insurance expense provisions 2,717 2,444 5,228 4,559 Payments ( 685 ) ( 43 ) ( 1,203 ) ( 80 ) Self-insurance adjustment — — — — Ending balance $ 27,684 $ 21,477 $ 27,684 $ 21,477

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt [Abstract]
Debt	9. Debt Our outstanding debt obligations included the following as of June 30, 2024 and December 31, 2023 (in thousands): June 30, December 31, 2024 2023 3.875 % senior notes, due August 2029 (1) $ 496,042 $ 495,656 6.750 % senior notes, due June 2027 (1) 497,618 497,210 Other financing obligations (2) 81,684 69,605 Notes payable 1,075,344 1,062,471 Revolving line of credit 111,000 — Mortgage repurchase facilities 248,816 239,298 Total debt $ 1,435,160 $ 1,301,769 (1) The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest expense over the respective terms of the senior notes. (2) As of June 30, 2024, other financing obligations included $ 8.8 million related to insurance premium notes and certain secured borrowings, as well as $ 72.9 million outstanding under construction loan agreements. As of December 31, 2023, other financing obligations included $ 24.7 million related to insurance premium notes and certain secured borrowings, as well as $ 44.9 million outstanding under construction loan agreements. Construction Loan Agreements Certain wholly owned subsidiaries of Century Living, LLC, are parties to construction loan agreements with various banks, (which we collectively refer to as “the lenders”). These construction loan agreements collectively provide that we may borrow up to an aggregate of $ 187.6 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 various rates, including a fixed rate, and 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 from March 17, 2026 through March 17, 2028 , with certain of the construction loan agreements allowing for 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. Interest on our construction loan agreements is capitalized to the multi-family properties assets included in prepaid expenses and other assets on the condensed consolidated balance sheets while the related multi-family rental properties are being actively developed . As of June 30, 2024 and December 31, 2023, $ 72.9 million and $ 44.9 million was outstanding under the construction loan agreements respectively, with borrowings that bore a weighted average interest rate of 7.4 % and 7.4 % as of June 30, 2024 and December 31, 2023, respectively, and we were in compliance with all covenants thereunder. Revolving Line of Credit We are party to a Second Amended and Restated Credit Agreement, as amended, (which we refer to as the “Second A&R Credit Agreement”) with Texas Capital Bank, National Association, as Administrative Agent and L/C Issuer, and the lenders party thereto. The Second A&R Credit Agreement, which amended and restated our prior Amended and Restated Credit Agreement , provides us with a senior unsecured revolving line of credit (which we refer to as the “revolving line of credit”) of up to $ 800.0 million, and unless terminated earlier, will mature on April 30, 2026 . The revolving line of credit includes a $ 250.0 million sublimit for standby letters of credit and a $ 50.0 million sublimit for swingline loans. Under the terms of the Second A&R Credit Agreement, we are entitled to request an increase in the size of the revolving line of credit 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 are based on an adjusted term SOFR reference rate, which equals the greater of (i) 0.50 % or (ii) the one-month quotation of the SOFR administered by the Federal Reserve Bank of New York, plus 0.10 %. As of June 30, 2024, $ 111.0 million was outstanding under the revolving line of credit, with borrowings that bore an interest rate of 7.5 %, and we were in compliance with all covenants under the Second A&R Credit Agreement. As of December 31, 2023, no amount was outstanding under the revolving line of credit. Mortgage Repurchase Facilities – Financial Services Inspire is party to mortgage warehouse facilities with J.P. Morgan Chase Bank, N.A., Texas Capital Bank, and U.S. Bank National Association, which provide Inspire with uncommitted repurchase facilities of up to an aggregate of $ 350.0 million as of June 30, 2024, secured by the mortgage loans financed thereunder. The repurchase facilities have varying short term maturity dates through March 21, 2025 . Borrowings under the mortgage repurchase facilities bear interest at variable interest rates per annum equal to SOFR plus an applicable margin, and bore a weighted average interest rate of 7.1 % as of June 30, 2024. 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 June 30, 2024 and December 31, 2023, we had $ 248.8 million and $ 239.3 million outstanding under the repurchase facilities, respectively, and were in compliance with all covenants thereunder.

Interest on Senior Notes and Re

Interest on Senior Notes and Revolving Line of Credit	6 Months Ended
	Jun. 30, 2024
Interest on Senior Notes and Revolving Line of Credit [Abstract]
Interest on Senior Notes and Revolving Line of Credit	10. Interest on Senior Notes and Revolving Line of Credit Interest on our senior notes and revolving line of credit, if applicable, is capitalized to inventories while the related communities are being actively developed and until homes are completed. As our qualifying assets exceeded our outstanding debt during the three and six months ended June 30, 2024 and 2023, we capitalized all interest costs incurred on these facilities during these periods. Our interest costs were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Interest capitalized beginning of period $ 75,172 $ 65,984 $ 72,598 $ 61,775 Interest capitalized during period 16,350 14,031 30,957 28,047 Less: capitalized interest in cost of sales ( 13,592 ) ( 10,270 ) ( 25,625 ) ( 20,077 ) Interest capitalized end of period $ 77,930 $ 69,745 $ 77,930 $ 69,745

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Taxes [Abstract]
Income Taxes	11 . Income Taxes At the end of each interim period, we are required to estimate our annual effective tax rate for the fiscal year and to use that rate to provide for income taxes for the current year-to-date reporting period. Our 2024 estimated annual effective tax rate, before discrete items of 24.6 %, is driven by our blended federal and state statutory rate of 24.5 %, and certain permanent differences between GAAP and tax, including disallowed deductions for executive compensation offset by estimated federal energy home credits for current year home deliveries, which combined resulted in a net increase of 0.1 %. For the six months ended June 30, 2024, our estimated annual rate of 24.6 % was benefitted by discrete items which had a net impact of decreasing our rate by 0.5 %, including the impact of excess tax benefits for vested stock-based compensation. For the three months ended June 30, 2024 and 2023, we recorded income tax expense of $ 26.9 million and $ 17.3 million, respectively . For the six months ended June 30, 2024 and 2023, we recorded income tax expense of $ 46.9 million and $ 28.0 million, respectively .

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures	12. Fair Value Disclosures Fair value measurements are used for the Company’s mortgage loans held for sale, mortgage loans held for investment, mortgage servicing rights, interest rate lock commitments and other derivative instruments on a recurring basis. We also utilize fair value measurements on a non-recurring basis for inventories and intangible assets when events and circumstances indicate that the carrying value is not recoverable. The fair value hierarchy and its application to the Company’s assets and liabilities is as follows: Level 1 – Quoted prices for identical instruments in active markets. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at the measurement date.  Mortgage loans held for sale – Fair value is based on quoted market prices for committed and uncommitted mortgage loans.  Derivative assets and liabilities – Derivative assets are associated with interest rate lock commitments and investor commitments on loans and may also be associated with forward mortgage-backed securities contracts. Derivative liabilities are associated with forward mortgage-backed securities contracts. Fair value is based on market prices for similar instruments. Level 3 – Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at the measurement date.  Mortgage servicing rights - The fair value of the mortgage servicing rights is calculated using third-party valuations. The key assumptions, which are generally unobservable inputs, used in the valuation of the mortgage servicing rights include mortgage prepayment rates, discount rates and cost to service.  Mortgage loans held for investment 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 June 30, 2024 and December 31, 2023, respectively (in thousands): June 30, December 31, Balance Sheet Classification Hierarchy 2024 2023 Mortgage loans held for sale Mortgage loans held for sale Level 2 $ 255,305 $ 251,852 Mortgage loans held for investment at fair value (1) Prepaid expenses and other assets Level 3 $ 21,763 $ 21,041 Derivative assets Prepaid expenses and other assets Level 2 $ 3,823 $ 1,618 Mortgage servicing rights (2) Prepaid expenses and other assets Level 3 $ 34,070 $ 30,932 Derivative liabilities Accrued expenses and other liabilities Level 2 $ — $ 5,291 (1) The unobservable inputs used in the valuation of the mortgage loans held for investment at fair value include, among other items, the value of underlying collateral, from markets where there is little observable trading activity. (2) The unobservable inputs used in the valuation of the mortgage servicing rights include mortgage prepayment rates, discount rates and cost to service, which were 8.7 %, 10.3 %, and $ 0.072 per year per loan, respectively, as of June 30, 2024, and 8.6 %, 10.3 %, and $ 0.072 per year per loan, respectively, as of December 31, 2023. 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 our condensed consolidated statements of operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, Mortgage servicing rights 2024 2023 2024 2023 Beginning of period $ 32,734 $ 23,901 $ 30,932 $ 24,164 Originations 1,545 1,059 2,779 2,104 Settlements ( 550 ) ( 410 ) ( 1,112 ) ( 561 ) Changes in fair value 341 2,081 1,471 924 End of period $ 34,070 $ 26,631 $ 34,070 $ 26,631 Three Months Ended June 30, Six Months Ended June 30, Mortgage loans held-for-investment at fair value 2024 2023 2024 2023 Beginning of period $ 21,620 $ 20,078 $ 21,041 $ 18,875 Transfers from loans held for sale 808 1,730 1,956 3,164 Settlements ( 347 ) ( 681 ) ( 661 ) ( 681 ) Reduction in unpaid principal balance ( 246 ) ( 529 ) ( 362 ) ( 633 ) Changes in fair value ( 72 ) ( 39 ) ( 211 ) ( 166 ) End of period $ 21,763 $ 20,559 $ 21,763 $ 20,559 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 June 30, 2024 and December 31, 2023, respectively (in thousands). June 30, 2024 December 31, 2023 Hierarchy Carrying Fair Value Carrying Fair Value Cash and cash equivalents Level 1 $ 106,682 $ 106,682 $ 226,150 $ 226,150 3.875 % senior notes (1)(2) Level 2 $ 496,042 $ 444,375 $ 495,656 $ 436,875 6.750 % senior notes (1)(2) Level 2 $ 497,618 $ 500,000 $ 497,210 $ 500,000 Revolving line of credit (3) Level 2 $ 111,000 $ 111,000 $ — $ — Other financing obligations (3)(4) Level 3 $ 81,684 $ 81,684 $ 69,605 $ 69,605 Mortgage repurchase facilities (3) Level 2 $ 248,816 $ 248,816 $ 239,298 $ 239,298 (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 June 30, 2024, these amounts totaled $ 4.0 million and $ 2.4 million for the 3.875 % senior notes and 6.750 % senior notes, respectively. As of December 31, 2023, these amounts totaled $ 4.3 million and $ 2.8 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/or interest rate terms. (4) During the period ended June 30, 2024, other financing obligations included $ 8.8 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 5.0 % to 7.7 %, and $ 72.9 million related to outstanding borrowings on the construction loan agreements that bore a weighted average interest rate of 7.4 % as of June 30, 2024. During the period ended December 31, 2023, other financing obligations included $ 24.7 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 4.8 % to 7.7 %, and $ 44.9 million related to outstanding borrowings on the construction loan agreements that bore a weighted average interest rate of 7.4 %. 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 three and six months ended June 30, 2024, we determined that inventory with a carrying value before impairment of $ 4.5 million for 2 communities in our Century Complete segment were not recoverable. Accordingly, we recognized impairment charges of an aggregate $ 0.6 million in order to record the communities at fair value. No impairment charges were recorded in the three and six months ended June 30, 2023. When impairment charges are recognized, the estimated fair value of communities are determined through a discounted cash flow approach utilizing Level 3 inputs. Changes in our cash flow projections in future periods related to these communities may change our conclusions on the recoverability of inventory in the future.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Stock-Based Compensation [Abstract]
Stock-Based Compensation	13. Stock-Based Compensation During the six months ended June 30, 2024 and 2023, we granted restricted stock units (which we refer to as “RSUs”) covering 0.2 million and 0.2 million shares of common stock, respectively, with a grant date fair value of $ 85.84 and $ 62.61 per share, respectively, that vest over a three year period. During the six months ended June 30, 2024 and 2023, we granted 11.0 thousand and 11.0 thousand shares of common stock, respectively, on an unrestricted basis (which we refer to as “stock awards”) with a grant date fair value of $ 82.84 and $ 65.77 per share, respectively, to our non-employee directors. During the six months ended June 30, 2024 and 2023, we granted performance share units (which we refer to as “PSUs”) covering up to 0.3 million and 0.5 million shares of common stock assuming maximum level of performance with a grant date fair value of $ 82.23 and $ 60.05 per share, respectively, that are subject to both service and performance vesting conditions. The quantity of shares that will ultimately vest and be issued upon settlement of the PSUs ranges from 0 % to 250 % of a targeted number of shares and will be determined based on an achievement of a three year adjusted pre-tax income performance goal. During the six months ended June 30, 2024 and 2023, we issued 0.2 million and 0.3 million shares of common stock, respectively, upon the vesting and settlement of PSUs that were granted in previous periods. Approximately 1.1 million shares will vest from 2025 to 2027 if the defined maximum performance targets are met, and no shares will vest if the defined minimum performance targets are not met. A summary of our outstanding PSUs, assuming the current estimated level of performance achievement, and RSUs are as follows (in thousands, except years): June 30, 2024 Unvested units 1,245 Unrecognized compensation cost $ 38,412 Weighted-average years to recognize compensation cost 1.62 During the three months ended June 30, 2024 and 2023, we recognized stock-based compensation expense of $ 7.9 million and $ 8.9 million, respectively. During the six months ended June 30, 2024 and 2023, we recognized stock-based compensation expense of $ 10.7 million and $ 14.3 million, respectively. Stock-based compensation expense is included in selling, general, and administrative expense on our condensed 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.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity [Abstract]
Stockholders' Equity	14. 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 June 30, 2024 and December 31, 2023, there were 31.3 million and 31.8 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 six months ended June 30, 2024 and 2023, we issued 0.3 million and 0.4 million shares of common stock, respectively, related to the vesting and settlement of RSUs and PSUs. As of June 30, 2024, approximately 2.2 million shares of common stock remained available for issuance under the 2022 Incentive Plan. The following table sets forth cash dividends declared by our Board of Directors to holders of record of our common stock during the six months ended June 30, 2024 and 2023, respectively (in thousands, except per share information): Six Months Ended June 30, 2024 Cash Dividends Declared and Paid Declaration Date Record Date Paid Date Per Share Amount February 7, 2024 February 28, 2024 March 13, 2024 $ 0.26 $ 8,264 May 15, 2024 May 29, 2024 June 12, 2024 $ 0.26 $ 8,217 Six Months Ended June 30, 2023 Cash Dividends Declared and Paid Declaration Date Record Date Paid Date Per Share Amount February 8, 2023 March 1, 2023 March 15, 2023 $ 0.23 $ 7,365 May 17, 2023 May 31, 2023 June 14, 2023 $ 0.23 $ 7,368 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. Our Board of Directors 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 three and six months ended June 30, 2024, an aggregate of 465.0 thousand and 651.9 thousand shares, respectively, were repurchased for a total purchase price of approximately $ 37.0 million and $ 53.1 million, respectively, and a weighted average price of $ 79.61 and $ 81.49 per share, respectively. During the three and six months ended June 30, 2023, an aggregate of 30.4 thousand shares were repurchased for a total purchase price of approximately $ 2.0 million and a weighted average price of $ 64.84 per share. The maximum number of shares available to be repurchased under the stock repurchase program as of June 30, 2024 was 578,143 shares. On July 22, 2024, our Board of Directors approved a new stock repurchase program under which we may repurchase up to an additional 4.5 million shares. During the six months ended June 30, 2024 and 2023, shares of common stock at a total cost of $ 10.4 million and $ 10.6 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.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	15. Earnings Per Share We use the treasury stock method to calculate earnings per share as our currently issued non-vested RSUs and PSUs do not have participating rights. The following table sets forth the computation of basic and diluted EPS for the three and six months ended June 30, 2024 and 2023 (in thousands, except share and per share information): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator Net income $ 83,724 $ 51,445 $ 148,055 $ 84,756 Denominator Weighted average common shares outstanding - basic 31,648,130 32,025,186 31,728,544 31,970,106 Dilutive effect of stock-based compensation awards 444,659 222,210 437,254 212,439 Weighted average common shares outstanding - diluted 32,092,789 32,247,396 32,165,798 32,182,545 Earnings per share: Basic $ 2.65 $ 1.61 $ 4.67 $ 2.65 Diluted $ 2.61 $ 1.60 $ 4.60 $ 2.63 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 0.4 million and 0.9 million common stock unit equivalents from diluted earnings per share during the three months ended June 30, 2024 and 2023, respectively, and we excluded 0.4 million and 0.7 million common stock unit equivalents from diluted earnings per share during the six months ended June 30, 2024 and 2023, respectively, related to the PSUs for which performance conditions remained unsatisfied.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies Letters of Credit and Performance Bonds In the normal course of business, we post letters of credit and performance and other bonds primarily related to our land development performance obligations with local municipalities. As of June 30, 2024 and December 31, 2023, we had $ 514.8 million and $ 510.5 million, respectively, in letters of credit and performance and other bonds issued and outstanding. Legal Proceedings We are subject to claims and lawsuits that arise primarily in the ordinary course of business, which consist primarily of construction claims. It is the opinion of our management that if the claims have merit, parties other than the Company would be, at least in part, liable for the claims, and the eventual outcome of these claims will not have a material adverse effect upon our consolidated financial condition, results of operations, or cash flows. When we believe that a loss is probable and estimable, we record a charge on our condensed consolidated statements of operations for our estimated loss. Under various insurance policies, we have the ability to recoup costs in excess of applicable self-insured retentions. Estimates of such amounts are recorded in other assets on our condensed consolidated balance sheet when recovery is probable. We do not believe that the ultimate resolution of any claims and lawsuits will have a material adverse effect upon our consolidated financial position, results of operations, or cash flows.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	6 Months Ended
	Jun. 30, 2024
Basis of Presentation [Abstract]
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 entitle and develop the underlying land. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand has an emphasis on serving the entry-level homebuilding market but 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 opportunities. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade opportunities. 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, IHL Home Insurance Agency, LLC, and IHL Escrow Inc., which provide mortgage, title, insurance and escrow 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, currently all located in Colorado. Century Living, LLC is included in our Corporate segment.
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (which we refer to as “GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (which we refer to as the “SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation of our financial position and results of operations for the periods presented. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The financial statements and related notes do not include all information and footnotes required by GAAP and should be read in conjunction with the consolidated financial statements for the year ended December 31, 2023, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 that was filed with the SEC on February 5, 2024.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company, as well as all subsidiaries in which we have a controlling interest, and variable interest entities for which the Company is deemed to be the primary beneficiary. We do not have any variable interest entities in which we are deemed the primary beneficiary.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates.
Business Acquisition	Business Acquisition On January 22, 2024, we closed on the acquisition of substantially all the assets of Landmark Homes of Tennessee, Inc. (“Landmark”), a homebuilder with operations, including six active communities, in Nashville, Tennessee, for approximately $ 33.4 million in cash, inclusive of customary holdbacks.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board (which we refer to as “FASB”) issued Accounting Standards Update (which we refer to as “ASU”) No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 requires more disaggregated income tax disclosures, including additional information in the rate reconciliation and additional disclosures about income taxes paid. ASU 2023-09 will become effective for us for the fiscal year ending December 31, 2025. Early adoption is permitted, and guidance should be applied prospectively, with an option to apply guidance retrospectively. We are currently evaluating the impact of the adoption of ASU 2023-09 on our consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (which we refer to as “CODM”) and included within each reported measure of segment profit or loss. The guidance also expands disclosure requirements for interim periods, as well as requires disclosure of other segment items, including the title and position of the entity’s CODM . ASU 2023-07 will become effective for us for the fiscal year ending December 31, 2024, and for interim periods starting in our first quarter of 2025 . Early adoption is permitted, and guidance is required to be applied retrospectively. We are currently evaluating the impact of the adoption of ASU 2023-07 on our consolidated financial statements and related disclosures.

Reporting Segments (Tables)

Reporting Segments (Tables)	6 Months Ended
	Jun. 30, 2024
Reporting Segments [Abstract]
Schedule of Total Revenue and Pretax Income (loss) by Segment	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue: West $ 203,677 $ 139,292 $ 376,325 $ 268,373 Mountain 258,921 230,103 513,200 476,378 Texas 146,007 126,618 277,280 216,150 Southeast 154,149 117,320 315,807 204,446 Century Complete 255,037 206,581 458,797 391,702 Financial Services 21,659 24,277 46,585 40,132 Corporate — — — — Total revenue $ 1,039,450 $ 844,191 $ 1,987,994 $ 1,597,181 Income (loss) before income tax expense: West $ 32,169 $ 14,966 $ 58,876 $ 22,939 Mountain 34,365 24,689 62,173 52,497 Texas 17,831 11,452 31,703 15,125 Southeast 25,843 17,992 46,639 29,958 Century Complete 29,036 16,348 50,136 30,298 Financial Services 5,663 12,507 15,712 17,581 Corporate ( 34,274 ) ( 29,206 ) ( 70,287 ) ( 55,641 ) Total income before income tax expense $ 110,633 $ 68,748 $ 194,952 $ 112,757
Schedule of Total Assets by Segment	June 30, December 31, 2024 2023 West $ 815,259 $ 786,489 Mountain 1,055,488 1,051,052 Texas 655,314 577,129 Southeast 584,733 503,249 Century Complete 467,331 386,444 Financial Services 440,189 450,208 Corporate 313,130 384,791 Total assets $ 4,331,444 $ 4,139,362

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventories [Abstract]
Schedule of Inventory	June 30, December 31, 2024 2023 Homes under construction $ 1,588,643 $ 1,334,584 Land and land development 1,628,763 1,609,459 Capitalized interest 77,930 72,598 Total inventories $ 3,295,336 $ 3,016,641

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Prepaid Expenses and Other Assets [Abstract]
Schedule of Prepaid Expenses and Other Assets	June 30, December 31, 2024 2023 Prepaid insurance $ 29,596 $ 37,624 Lot option and escrow deposits 86,773 51,369 Performance deposits 9,793 10,170 Restricted cash (1) 21,788 15,853 Multi-family rental properties under construction 158,249 136,300 Mortgage loans held for investment at fair value 21,763 21,041 Mortgage loans held for investment at amortized cost 6,730 6,826 Mortgage servicing rights 34,070 30,932 Derivative assets 3,823 1,618 Other assets and prepaid expenses 31,730 38,460 Total prepaid expenses and other assets $ 404,315 $ 350,193 (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 compensating balances associated with our mortgage repurchase facilities and other financing obligations.

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Accrued Expenses and Other Liabilities [Abstract]
Schedule of Accrued Expenses and Other Liabilities	June 30, December 31, 2024 2023 Earnest money deposits $ 18,807 $ 7,933 Warranty reserve 11,598 11,524 Self-insurance reserve 27,684 23,659 Accrued compensation costs 50,022 80,133 Land development and home construction accruals 113,011 120,224 Accrued interest 11,693 10,404 Income taxes payable — — Derivative liabilities — 5,291 Other accrued liabilities 39,034 44,224 Total accrued expenses and other liabilities $ 271,849 $ 303,392

Warranties (Tables)

Warranties (Tables)	6 Months Ended
	Jun. 30, 2024
Warranties [Abstract]
Schedule of Changes in Warranty Accrual	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Beginning balance $ 11,212 $ 12,331 $ 11,524 $ 13,136 Warranty expense provisions 2,470 2,472 5,140 4,301 Payments ( 1,841 ) ( 1,593 ) ( 3,532 ) ( 3,769 ) Warranty adjustment ( 243 ) ( 226 ) ( 1,534 ) ( 684 ) Ending balance $ 11,598 $ 12,984 $ 11,598 $ 12,984

Self-Insurance Reserve (Tables)

Self-Insurance Reserve (Tables)	6 Months Ended
	Jun. 30, 2024
Self-Insurance Reserve [Abstract]
Changes in Self Insurance Reserve	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Beginning balance $ 25,652 $ 19,076 $ 23,659 $ 16,998 Self-insurance expense provisions 2,717 2,444 5,228 4,559 Payments ( 685 ) ( 43 ) ( 1,203 ) ( 80 ) Self-insurance adjustment — — — — Ending balance $ 27,684 $ 21,477 $ 27,684 $ 21,477

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt [Abstract]
Schedule of Outstanding Debt Obligations	June 30, December 31, 2024 2023 3.875 % senior notes, due August 2029 (1) $ 496,042 $ 495,656 6.750 % senior notes, due June 2027 (1) 497,618 497,210 Other financing obligations (2) 81,684 69,605 Notes payable 1,075,344 1,062,471 Revolving line of credit 111,000 — Mortgage repurchase facilities 248,816 239,298 Total debt $ 1,435,160 $ 1,301,769 (1) The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest expense over the respective terms of the senior notes. (2) As of June 30, 2024, other financing obligations included $ 8.8 million related to insurance premium notes and certain secured borrowings, as well as $ 72.9 million outstanding under construction loan agreements. As of December 31, 2023, other financing obligations included $ 24.7 million related to insurance premium notes and certain secured borrowings, as well as $ 44.9 million outstanding under construction loan agreements.

Interest on Senior Notes and _2

Interest on Senior Notes and Revolving Line of Credit (Tables)	6 Months Ended
	Jun. 30, 2024
Interest on Senior Notes and Revolving Line of Credit [Abstract]
Schedule of Capitalized Interest Costs	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Interest capitalized beginning of period $ 75,172 $ 65,984 $ 72,598 $ 61,775 Interest capitalized during period 16,350 14,031 30,957 28,047 Less: capitalized interest in cost of sales ( 13,592 ) ( 10,270 ) ( 25,625 ) ( 20,077 ) Interest capitalized end of period $ 77,930 $ 69,745 $ 77,930 $ 69,745

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	June 30, December 31, Balance Sheet Classification Hierarchy 2024 2023 Mortgage loans held for sale Mortgage loans held for sale Level 2 $ 255,305 $ 251,852 Mortgage loans held for investment at fair value (1) Prepaid expenses and other assets Level 3 $ 21,763 $ 21,041 Derivative assets Prepaid expenses and other assets Level 2 $ 3,823 $ 1,618 Mortgage servicing rights (2) Prepaid expenses and other assets Level 3 $ 34,070 $ 30,932 Derivative liabilities Accrued expenses and other liabilities Level 2 $ — $ 5,291 (1) The unobservable inputs used in the valuation of the mortgage loans held for investment at fair value include, among other items, the value of underlying collateral, from markets where there is little observable trading activity. (2) The unobservable inputs used in the valuation of the mortgage servicing rights include mortgage prepayment rates, discount rates and cost to service, which were 8.7 %, 10.3 %, and $ 0.072 per year per loan, respectively, as of June 30, 2024, and 8.6 %, 10.3 %, and $ 0.072 per year per loan, respectively, as of December 31, 2023. The high and low end of the range of unobservable inputs used in the valuation did not result in a significant change to the fair value measurement.
Schedule of Reconciliation of Level 3 Recurring at Fair Value	Three Months Ended June 30, Six Months Ended June 30, Mortgage servicing rights 2024 2023 2024 2023 Beginning of period $ 32,734 $ 23,901 $ 30,932 $ 24,164 Originations 1,545 1,059 2,779 2,104 Settlements ( 550 ) ( 410 ) ( 1,112 ) ( 561 ) Changes in fair value 341 2,081 1,471 924 End of period $ 34,070 $ 26,631 $ 34,070 $ 26,631 Three Months Ended June 30, Six Months Ended June 30, Mortgage loans held-for-investment at fair value 2024 2023 2024 2023 Beginning of period $ 21,620 $ 20,078 $ 21,041 $ 18,875 Transfers from loans held for sale 808 1,730 1,956 3,164 Settlements ( 347 ) ( 681 ) ( 661 ) ( 681 ) Reduction in unpaid principal balance ( 246 ) ( 529 ) ( 362 ) ( 633 ) Changes in fair value ( 72 ) ( 39 ) ( 211 ) ( 166 ) End of period $ 21,763 $ 20,559 $ 21,763 $ 20,559
Schedule of Carrying Values and Fair Values of Financial Instruments	June 30, 2024 December 31, 2023 Hierarchy Carrying Fair Value Carrying Fair Value Cash and cash equivalents Level 1 $ 106,682 $ 106,682 $ 226,150 $ 226,150 3.875 % senior notes (1)(2) Level 2 $ 496,042 $ 444,375 $ 495,656 $ 436,875 6.750 % senior notes (1)(2) Level 2 $ 497,618 $ 500,000 $ 497,210 $ 500,000 Revolving line of credit (3) Level 2 $ 111,000 $ 111,000 $ — $ — Other financing obligations (3)(4) Level 3 $ 81,684 $ 81,684 $ 69,605 $ 69,605 Mortgage repurchase facilities (3) Level 2 $ 248,816 $ 248,816 $ 239,298 $ 239,298 (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 June 30, 2024, these amounts totaled $ 4.0 million and $ 2.4 million for the 3.875 % senior notes and 6.750 % senior notes, respectively. As of December 31, 2023, these amounts totaled $ 4.3 million and $ 2.8 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/or interest rate terms. (4) During the period ended June 30, 2024, other financing obligations included $ 8.8 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 5.0 % to 7.7 %, and $ 72.9 million related to outstanding borrowings on the construction loan agreements that bore a weighted average interest rate of 7.4 % as of June 30, 2024. During the period ended December 31, 2023, other financing obligations included $ 24.7 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 4.8 % to 7.7 %, and $ 44.9 million related to outstanding borrowings on the construction loan agreements that bore a weighted average interest rate of 7.4 %.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Stock-Based Compensation [Abstract]
Summary of Outstanding RSUs and PSUs	June 30, 2024 Unvested units 1,245 Unrecognized compensation cost $ 38,412 Weighted-average years to recognize compensation cost 1.62

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity [Abstract]
Schedule of Dividends Declared	Six Months Ended June 30, 2024 Cash Dividends Declared and Paid Declaration Date Record Date Paid Date Per Share Amount February 7, 2024 February 28, 2024 March 13, 2024 $ 0.26 $ 8,264 May 15, 2024 May 29, 2024 June 12, 2024 $ 0.26 $ 8,217 Six Months Ended June 30, 2023 Cash Dividends Declared and Paid Declaration Date Record Date Paid Date Per Share Amount February 8, 2023 March 1, 2023 March 15, 2023 $ 0.23 $ 7,365 May 17, 2023 May 31, 2023 June 14, 2023 $ 0.23 $ 7,368

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator Net income $ 83,724 $ 51,445 $ 148,055 $ 84,756 Denominator Weighted average common shares outstanding - basic 31,648,130 32,025,186 31,728,544 31,970,106 Dilutive effect of stock-based compensation awards 444,659 222,210 437,254 212,439 Weighted average common shares outstanding - diluted 32,092,789 32,247,396 32,165,798 32,182,545 Earnings per share: Basic $ 2.65 $ 1.61 $ 4.67 $ 2.65 Diluted $ 2.61 $ 1.60 $ 4.60 $ 2.63

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) $ in Millions		6 Months Ended
	Jan. 22, 2024 USD ($) item	Jun. 30, 2024 state segment
Asset Acquisition [Line Items]
Number of operating states | state		18
Number of reportable segments | segment		5
Landmark [Member]
Asset Acquisition [Line Items]
Number of active communities acquired | item	6
Business acquisition, paid in cash | $	$ 33.4

Reporting Segments (Narrative)

Reporting Segments (Narrative) (Details)	6 Months Ended
	Jun. 30, 2024 state segment region
Segment Reporting Information [Line Items]
Number of operating states	18
Number of geographic operating regions | region	4
Number of reportable segments | segment	5
Century Complete [Member]
Segment Reporting Information [Line Items]
Number of operating states	11

Reporting Segments (Schedule of

Reporting Segments (Schedule of Total Revenue and Pretax Income (loss) by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 1,039,450	$ 844,191	$ 1,987,994	$ 1,597,181
Total income before income tax expense	110,633	68,748	194,952	112,757
West [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	203,677	139,292	376,325	268,373
Total income before income tax expense	32,169	14,966	58,876	22,939
Mountain [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	258,921	230,103	513,200	476,378
Total income before income tax expense	34,365	24,689	62,173	52,497
Texas [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	146,007	126,618	277,280	216,150
Total income before income tax expense	17,831	11,452	31,703	15,125
Southeast [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	154,149	117,320	315,807	204,446
Total income before income tax expense	25,843	17,992	46,639	29,958
Century Complete [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	255,037	206,581	458,797	391,702
Total income before income tax expense	29,036	16,348	50,136	30,298
Financial Services [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	21,659	24,277	46,585	40,132
Total income before income tax expense	5,663	12,507	15,712	17,581
Corporate [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue
Total income before income tax expense	$ (34,274)	$ (29,206)	$ (70,287)	$ (55,641)

Reporting Segments (Schedule _2

Reporting Segments (Schedule of Total Assets by Segment) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 4,331,444	$ 4,139,362
West [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	815,259	786,489
Mountain [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	1,055,488	1,051,052
Texas [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	655,314	577,129
Southeast [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	584,733	503,249
Century Complete [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	467,331	386,444
Financial Services [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	440,189	450,208
Corporate [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 313,130	$ 384,791

Inventories (Schedule of Invent

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Inventories [Abstract]
Homes under construction	$ 1,588,643		$ 1,334,584
Land and land development	1,628,763		1,609,459
Capitalized interest	77,930	$ 75,172	72,598	$ 69,745	$ 65,984	$ 61,775
Total inventories	$ 3,295,336		$ 3,016,641

Financial Services (Narrative)

Financial Services (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financial Services [Line Items]
Mortgage loans held for sale	$ 255,305		$ 255,305		$ 251,852
Inspire [Member]
Financial Services [Line Items]
Mortgage loans in process	125,000		125,000		49,600
Mortgage loans held for sale aggregate outstanding principal balance	255,300		255,300		$ 247,700
Net gains (losses) on the sale of mortgage loans	(5,800)	$ 1,700	(3,800)	$ 3,500
Gains (losses) in fair value for loans held-for-sale	$ 900	$ (2,000)	$ (4,200)	$ (2,000)
Inspire [Member] | Weighted Average [Member]
Financial Services [Line Items]
Interest rate	5.90%		5.90%		5.80%

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets (Schedule of Prepaid Expenses and Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Prepaid Expenses and Other Assets [Abstract]
Prepaid insurance	$ 29,596	$ 37,624
Lot option and escrow deposits	86,773	51,369
Performance deposits	9,793	10,170
Restricted cash	21,788	15,853
Multi-family rental properties under construction	158,249	136,300
Mortgage loans held for investment at fair value	21,763	21,041
Mortgage loans held for investment at amortized cost	6,730	6,826
Mortgage servicing rights	34,070	30,932
Derivative assets	3,823	1,618
Other assets and prepaid expenses	31,730	38,460
Total prepaid expenses and other assets	$ 404,315	$ 350,193

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Schedule of Accrued Expenses and Other Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Accrued Expenses and Other Liabilities [Abstract]
Earnest money deposits	$ 18,807		$ 7,933
Warranty reserve	11,598	$ 11,212	11,524	$ 12,984	$ 12,331	$ 13,136
Self-insurance reserve	27,684	$ 25,652	23,659	$ 21,477	$ 19,076	$ 16,998
Accrued compensation costs	50,022		80,133
Land development and home construction accruals	113,011		120,224
Accrued interest	11,693		10,404
Derivative liabilities			5,291
Other accrued liabilities	39,034		44,224
Total accrued expenses and other liabilities	$ 271,849		$ 303,392

Warranties (Narrative) (Details

Warranties (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Warranties [Abstract]
Warranty reserve adjustment	$ (243)	$ (226)	$ (1,534)	$ (684)

Warranties (Schedule of Changes

Warranties (Schedule of Changes in Warranty Accrual) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Warranties [Abstract]
Beginning balance	$ 11,212	$ 12,331	$ 11,524	$ 13,136
Warranty expense provisions	2,470	2,472	5,140	4,301
Payments	(1,841)	(1,593)	(3,532)	(3,769)
Warranty adjustment	(243)	(226)	(1,534)	(684)
Ending balance	$ 11,598	$ 12,984	$ 11,598	$ 12,984

Self-Insurance Reserve (Narrati

Self-Insurance Reserve (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Self-Insurance Reserve [Abstract]
Self-insurance adjustment	$ 0	$ 0	$ 0	$ 0

Self-Insurance Reserve (Changes

Self-Insurance Reserve (Changes in Self Insurance Reserve) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Self-Insurance Reserve [Abstract]
Beginning balance	$ 25,652	$ 19,076	$ 23,659	$ 16,998
Self-insurance expense provisions	2,717	2,444	5,228	4,559
Payments	(685)	(43)	(1,203)	(80)
Self-insurance adjustment	0	0	0	0
Ending balance	$ 27,684	$ 21,477	$ 27,684	$ 21,477

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)		6 Months Ended
	May 21, 2021	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Notes payable		$ 1,075,344,000	$ 1,062,471,000
Line of credit facility, outstanding amount		111,000,000
Mortgage repurchase facilities		$ 248,816,000	239,298,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Weighted average interest rate		7.50%
Line of credit facility, outstanding amount		$ 111,000,000	$ 0
Inspire [Member] | Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Weighted average interest rate		7.10%
Maturity date		Mar. 21, 2025
Maximum [Member] | Inspire [Member] | Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Line of credit facility. maximum borrowing capacity		$ 350,000,000
Second Amended And Restated Credit Agreement [Member] | Revolving Credit Facility [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
Swingline loans sublimit		$ 50,000,000
Second Amended And Restated Credit Agreement [Member] | Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, increased amount	$ 200,000,000
Second Amended And Restated Credit Agreement [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Second Amended And Restated Credit Agreement [Member] | SOFR Administered By FRB Of NY [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.10%
Construction Loan Agreement [Member]
Debt Instrument [Line Items]
Principal amount		$ 187,600,000
Weighted average interest rate		7.40%	7.40%
Notes payable		$ 72,900,000	$ 44,900,000
Debt instrument, option to extend maturity, term		12 months
Construction Loan Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maturity date		Mar. 17, 2026
Construction Loan Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maturity date		Mar. 17, 2028

Debt (Schedule of Outstanding D

Debt (Schedule of Outstanding Debt Obligations) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Notes payable	$ 1,075,344	$ 1,062,471
Revolving line of credit	111,000
Mortgage repurchase facilities	248,816	239,298
Total debt	1,435,160	1,301,769
Senior Note 3.875% Due August 2029 [Member]
Debt Instrument [Line Items]
Notes payable	$ 496,042	495,656
Interest rate	3.875%
Maturity date	2029-08
Senior Notes 6.750% Due June 2027 [Member]
Debt Instrument [Line Items]
Notes payable	$ 497,618	497,210
Interest rate	6.75%
Maturity date	2027-06
Construction Loan Agreement [Member]
Debt Instrument [Line Items]
Notes payable	$ 72,900	44,900
Other Financing Obligations [Member]
Debt Instrument [Line Items]
Notes payable	81,684	69,605
Other Financing Obligations [Member] | Insurance Premium Notes And Certain Secured Borrowings [Member]
Debt Instrument [Line Items]
Notes payable	$ 8,800	$ 24,700

Interest on Senior Notes and _3

Interest on Senior Notes and Revolving Line of Credit (Schedule of Capitalized Interest Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest on Senior Notes and Revolving Line of Credit [Abstract]
Interest capitalized beginning of period	$ 75,172	$ 65,984	$ 72,598	$ 61,775
Interest capitalized during period	16,350	14,031	30,957	28,047
Less: capitalized interest in cost of sales	(13,592)	(10,270)	(25,625)	(20,077)
Interest capitalized end of period	$ 77,930	$ 69,745	$ 77,930	$ 69,745

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2024
Income Tax Examination [Line Items]
Effective tax rate			24.60%
Increase (decrease) to effective tax rate			(0.50%)
Income tax expense	$ 26,909	$ 17,303	$ 46,897	$ 28,001
Forecast [Member]
Income Tax Examination [Line Items]
Effective tax rate					24.60%
Blended federal and state statutory rate					24.50%
Increase (decrease) to effective tax rate					0.10%

Fair Value Disclosures (Narrati

Fair Value Disclosures (Narrative) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) item	Jun. 30, 2023 USD ($)
Fair Value Disclosures [Abstract]
Impairment charge	$ 570,000	$ 0	$ 570,000	$ 0
Carrying value of communities before impairment			$ 4,500,000
Number of communities impairment charges | item			2

Fair Value Disclosures (Schedul

Fair Value Disclosures (Schedule of Assets and Liabilities Measured at Fair Value) (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / item	Dec. 31, 2023 USD ($) $ / item
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for sale	$ 255,305	$ 251,852
Mortgage loans held for investment at fair value	21,763	21,041
Derivative assets	$ 3,823	$ 1,618
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets	Prepaid Expense and Other Assets
Mortgage servicing rights	$ 34,070	$ 30,932
Derivative liabilities		$ 5,291
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities
Mortgage servicing rights, cost to service per year per loan | $ / item	0.072	0.072
Prepayment Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing rights rates	8.7	8.6
Discount Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing rights rates	10.3	10.3
Level 2 [Member] | Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	$ 3,823	$ 1,618
Derivative liabilities		5,291
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	255,305	251,852
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 at fair value	21,763	21,041
Mortgage servicing rights	$ 34,070	$ 30,932

Fair Value Disclosures (Sched_2

Fair Value Disclosures (Schedule of Reconciliation of Level 3 Recurring at Fair Value) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period			$ 30,932
End of period	$ 34,070		34,070
Level 3 [Member] | Recurring [Member] | Mortgage Servicing Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period	32,734	$ 23,901	30,932	$ 24,164
Originations	1,545	1,059	2,779	2,104
Settlements	(550)	(410)	(1,112)	(561)
Changes in fair value	341	2,081	1,471	924
End of period	34,070	26,631	34,070	26,631
Level 3 [Member] | Recurring [Member] | Mortgage Loans Held-For-Investment At Fair Value [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period	21,620	20,078	21,041	18,875
Transfers from loans held for sale	808	1,730	1,956	3,164
Settlements	(347)	(681)	(661)	(681)
Reduction in unpaid principal balance	(246)	(529)	(362)	(633)
Changes in fair value	(72)	(39)	(211)	(166)
End of period	$ 21,763	$ 20,559	$ 21,763	$ 20,559

Fair Value Disclosures (Sched_3

Fair Value Disclosures (Schedule of Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 106,682	$ 226,150	$ 350,488
Revolving line of credit	111,000
Mortgage repurchase facilities	248,816	239,298
Notes payable	1,075,344	1,062,471
Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	81,684	69,605
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	$ 4,000	$ 4,300
Interest rate	3.875%	3.875%
Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amounts include unamortized deferred financing costs, premiums and discounts	$ 2,400	$ 2,800
Interest rate	6.75%	6.75%
Construction Loan Agreement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	$ 72,900	$ 44,900
Debt, Weighted Average Interest Rate	7.40%	7.40%
Insurance Premium Notes And Certain Secured Borrowings [Member] | Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	$ 8,800	$ 24,700
Level 1 [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	106,682	226,150
Level 1 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	106,682	226,150
Level 2 [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolving line of credit	111,000
Mortgage repurchase facilities	248,816	239,298
Level 2 [Member] | Carrying Value [Member] | Senior Notes 3.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	496,042	495,656
Level 2 [Member] | Carrying Value [Member] | Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	497,618	497,210
Level 2 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolving line of credit	111,000
Mortgage repurchase facilities	248,816	239,298
Level 2 [Member] | Fair Value [Member] | Senior Notes 3.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	444,375	436,875
Level 2 [Member] | Fair Value [Member] | Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	500,000	500,000
Level 3 [Member] | Carrying Value [Member] | Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	81,684	69,605
Level 3 [Member] | Fair Value [Member] | Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	$ 81,684	$ 69,605
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	5%	4.80%
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	7.70%	7.70%

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 7.9	$ 8.9	$ 10.7	$ 14.3
Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			11	11
Grant date fair value			$ 82.84	$ 65.77
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			0.2	0.2
Grant date fair value			$ 85.84	$ 62.61
Awards vesting period			3 years
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested			0.2	0.3
Shares granted			0.3	0.5
Grant date fair value			$ 82.23	$ 60.05
Awards vesting period			3 years
Shares will vest if defined maximum performance targets are met			1.1
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 Two [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target range			250%

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Outstanding RSUs and PSUs) (Details) - RSUs And PSUs [Member] shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested units | shares	1,245
Unrecognized compensation cost | $	$ 38,412
Weighted-average years to recognize compensation cost	1 year 7 months 13 days

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jul. 22, 2024	Dec. 31, 2023	May 04, 2022	Nov. 06, 2018
Class of Stock [Line Items]
Common stock shares authorized	100,000,000		100,000,000			100,000,000
Common stock, par value	$ 0.01		$ 0.01			$ 0.01
Preferred stock shares authorized	50,000,000		50,000,000			50,000,000
Preferred stock, par value	$ 0.01		$ 0.01			$ 0.01
Common stock shares issued	31,336,340		31,336,340			31,774,615
Common stock shares outstanding	31,336,340		31,336,340			31,774,615
Preferred stock shares outstanding	0		0			0
Shares amount to be repurchased					4,500,000			4,500,000
Shares available to be purchased	578,143		578,143
Shares Acquired, Average Cost Per Share	$ 79.61	$ 64.84	$ 81.49	$ 64.84
Cost netted and surrendered as payment for minimum statutory withholding obligations in connection with vested awards			$ 10.4	$ 10.6
Common stock repurchased	465,000	30,400	651,900	30,400
Common stock repurchased, amount	$ 37	$ 2	$ 53.1	$ 2
Omnibus 2022 Incentive Plan [Member]
Class of Stock [Line Items]
Vesting of stock-based compensation awards, shares			300,000	400,000
Common stock shares for stock award issuance	2,200,000		2,200,000				3,100,000
2017 Incentive Plan [Member]
Class of Stock [Line Items]
Common stock shares for stock award issuance							51,200

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Dividends Declared) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
2024 Q1 [Member]
Dividends Payable [Line Items]
Declaration Date		Feb. 07, 2024
Record Date		Feb. 28, 2024
Paid Date		Mar. 13, 2024
Cash Dividends Declared and Paid, Per Share		$ 0.26
Cash Dividends Declared and Paid, Amount		$ 8,264
2024 Q2 [Member]
Dividends Payable [Line Items]
Declaration Date	May 15, 2024
Record Date	May 29, 2024
Paid Date	Jun. 12, 2024
Cash Dividends Declared and Paid, Per Share	$ 0.26
Cash Dividends Declared and Paid, Amount	$ 8,217
2023 Q1 [Member]
Dividends Payable [Line Items]
Declaration Date				Feb. 08, 2023
Record Date				Mar. 01, 2023
Paid Date				Mar. 15, 2023
Cash Dividends Declared and Paid, Per Share				$ 0.23
Cash Dividends Declared and Paid, Amount				$ 7,365
2023 Q2 [Member]
Dividends Payable [Line Items]
Declaration Date			May 17, 2023
Record Date			May 31, 2023
Paid Date			Jun. 14, 2023
Cash Dividends Declared and Paid, Per Share			$ 0.23
Cash Dividends Declared and Paid, Amount			$ 7,368

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Anti-dilutive shares related to PSU's granted	0.4	0.9	0.4	0.7

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator
Net income	$ 83,724	$ 51,445	$ 148,055	$ 84,756
Denominator
Weighted average common shares outstanding - basic	31,648,130	32,025,186	31,728,544	31,970,106
Dilutive effect of stock-based compensation awards	444,659	222,210	437,254	212,439
Weighted average common shares outstanding - diluted	32,092,789	32,247,396	32,165,798	32,182,545
Earnings per share:
Basic	$ 2.65	$ 1.61	$ 4.67	$ 2.65
Diluted	$ 2.61	$ 1.60	$ 4.60	$ 2.63

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies [Abstract]
Outstanding letters of credit and performance bonds	$ 514.8	$ 510.5

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false