Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2023	Jul. 21, 2023
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	2023
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-36491
Entity Registrant Name	Century Communities, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	68-0521411
Entity Address, Address Line One	8390 East Crescent Parkway
Entity Address, Address Line Two	Suite 650
Entity Address, City or Town	Greenwood Village
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80111
City Area Code	303
Local Phone Number	770-8300
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	CCS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,020,378
Entity Central Index Key	0001576940

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 350,488	$ 296,724
Cash held in escrow	23,245	56,569
Accounts receivable	59,993	52,797
Inventories	2,856,388	2,830,645
Mortgage loans held for sale	195,598	203,558
Prepaid expenses and other assets	287,448	250,535
Property and equipment, net	32,663	31,688
Deferred tax assets, net	20,430	20,856
Goodwill	30,395	30,395
Total assets	3,856,648	3,773,767
Liabilities:
Accounts payable	146,559	106,926
Accrued expenses and other liabilities	266,366	299,588
Notes payable	1,030,782	1,019,412
Revolving line of credit
Mortgage repurchase facilities	191,024	197,626
Total liabilities	1,634,731	1,623,552
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, 32,020,378 and 31,772,791 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	320	318
Additional paid-in capital	586,856	584,803
Retained earnings	1,634,741	1,565,094
Total stockholders' equity	2,221,917	2,150,215
Total liabilities and stockholders' equity	$ 3,856,648	$ 3,773,767

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Condensed Consolidated Balance Sheets [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock shares authorized	50,000,000.0	50,000,000
Preferred stock shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock shares authorized	100,000,000.0	100,000,000
Common stock shares issued	32,020,378	31,772,791
Common stock shares outstanding	32,020,378	31,772,791

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues
Total revenues	$ 844,191	$ 1,166,142	$ 1,597,181	$ 2,182,492
Selling, general and administrative	(105,120)	(109,158)	(203,433)	(210,797)
Other income (expense)	(1,344)	(6,243)	154	(7,105)
Income before income tax expense	68,748	213,648	112,757	402,424
Income tax expense	(17,303)	(54,980)	(28,001)	(101,260)
Net income	$ 51,445	$ 158,668	$ 84,756	$ 301,164
Earnings per share:
Basic	$ 1.61	$ 4.83	$ 2.65	$ 9.08
Diluted	$ 1.60	$ 4.78	$ 2.63	$ 8.97
Weighted average common shares outstanding:
Basic	32,025,186	32,839,402	31,970,106	33,183,097
Diluted	32,247,396	33,227,383	32,182,545	33,582,900
Homebuilding [Member]
Revenues
Total revenues	$ 819,914	$ 1,143,345	$ 1,557,049	$ 2,133,390
Cost of revenues	(657,209)	(822,907)	(1,258,594)	(1,532,826)
Home Sales [Member]
Revenues
Total revenues	818,360	1,134,535	1,553,960	2,122,950
Cost of revenues	(656,834)	(814,895)	(1,258,219)	(1,523,968)
Land Sales And Other [Member]
Revenues
Total revenues	1,554	8,810	3,089	10,440
Cost of revenues	(375)	(8,012)	(375)	(8,858)
Financial Services [Member]
Revenues
Total revenues	24,277	22,797	40,132	49,102
Cost of revenues	$ (11,770)	$ (14,186)	$ (22,551)	$ (29,340)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net income	$ 84,756	$ 301,164
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	6,913	5,352
Stock-based compensation expense	14,291	9,791
Fair value of mortgage loans held for sale and other	(2,309)	5,322
Abandonment of lot option contracts	1,670	3,010
Deferred income taxes	426	1,883
Loss on disposition of assets	825	1,067
Changes in assets and liabilities:
Cash held in escrow	33,324	(30,197)
Accounts receivable	(7,196)	(16,824)
Inventories	(24,354)	(544,237)
Mortgage loans held for sale	6,400	128,114
Prepaid expenses and other assets	11,564	(26,582)
Accounts payable	39,632	32,711
Accrued expenses and other liabilities	(33,167)	26,539
Net cash provided by (used in) operating activities	132,775	(102,887)
Investing activities
Purchases of property and equipment	(8,713)	(8,785)
Expenditures related to development of rental properties	(39,501)	(13,618)
Other investing activities	(391)	(2,879)
Net cash used in investing activities	(48,605)	(25,282)
Financing activities
Borrowings under revolving credit facilities		571,000
Payments on revolving credit facilities		(430,000)
Borrowing under construction loan agreements	13,757
Proceeds from issuance of insurance premium notes and other	3,032	18,031
Principal payments on insurance premium notes and other	(6,213)	(9,043)
Net payments for mortgage repurchase facilities	(6,602)	(122,875)
Withholding of common stock upon vesting of stock-based compensation awards	(10,643)	(12,735)
Repurchases of common stock under stock repurchase program	(1,969)	(98,305)
Dividend payments	(14,733)	(13,225)
Other financing activities		879
Net cash used in financing activities	(23,371)	(96,273)
Net increase (decrease)	60,799	(224,442)
Cash and cash equivalents and Restricted cash, Beginning of period	308,492	322,241
Cash and cash equivalents and Restricted cash, End of period	369,291	97,799
Supplemental cash flow disclosure
Cash paid for income taxes	19,295	117,476
Cash and cash equivalents and Restricted cash
Cash and cash equivalents	350,488	78,011
Restricted cash (Note 5)	18,803	19,788
Cash and cash equivalents and Restricted cash	$ 369,291	$ 97,799

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, 2021	$ 338	$ 697,845	$ 1,066,325	$ 1,764,508
Beginning balance, shares at Dec. 31, 2021	33,761
Vesting of stock-based compensation awards	$ 5	(5)
Vesting of stock-based compensation awards, shares	516
Withholding of common stock upon vesting of stock-based compensation awards	$ (2)	(12,733)		(12,735)
Withholding of common stock upon vesting of stock-based compensation awards, shares	(200)
Repurchases of common stock	$ (18)	(98,287)		(98,305)
Repurchases of common stock, shares	(1,804)
Stock-based compensation expense		9,791		9,791
Cash dividends declared and dividend equivalents		150	(13,375)	(13,225)
Other		(34)		(34)
Net income			301,164	301,164
Ending balance at Jun. 30, 2022	$ 323	596,727	1,354,114	1,951,164
Ending balance, shares at Jun. 30, 2022	32,273
Beginning balance at Mar. 31, 2022	$ 330	627,447	1,202,085	1,829,862
Beginning balance, shares at Mar. 31, 2022	33,038
Vesting of stock-based compensation awards, shares	36
Withholding of common stock upon vesting of stock-based compensation awards		(598)		(598)
Withholding of common stock upon vesting of stock-based compensation awards, shares	(10)
Repurchases of common stock	$ (7)	(35,920)		(35,927)
Repurchases of common stock, shares	(791)
Stock-based compensation expense		5,727		5,727
Cash dividends declared and dividend equivalents		71	(6,639)	(6,568)
Net income			158,668	158,668
Ending balance at Jun. 30, 2022	$ 323	596,727	1,354,114	1,951,164
Ending balance, shares at Jun. 30, 2022	32,273
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

Basis of Presentation

6 Months Ended

Jun. 30, 2023

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 are responsible for the entitlement and development of the underlying land. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand targets a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade opportunities. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade opportunities.

Our homebuilding operations are organized into the following five reportable segments: West, Mountain, Texas, Southeast, and Century Complete. Our indirect wholly-owned subsidiaries, Inspire Home Loans Inc., Parkway Title, LLC, and IHL Home Insurance Agency, LLC, which provide mortgage, title, and insurance services, respectively, primarily to our homebuyers, have been identified as our Financial Services segment. Additionally, our wholly owned subsidiary, Century Living, LLC, is engaged in the development, construction and management of multi-family rental properties, 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, 2022, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 that was filed with the SEC on February 2, 2023.

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.

‎Reclassifications

Certain prior period amounts have been reclassified to conform to current period presentation.

Recently Issued Accounting Standards

There are no recent accounting standards that are expected to have a material impact on our consolidated financial statements.

Reporting Segments

6 Months Ended

Jun. 30, 2023

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 (Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee)

Century Complete (Alabama, Arizona, Florida, Georgia, Indiana, Kentucky, Louisiana, Michigan, North Carolina, Ohio, South Carolina)

Commencing in the first quarter of 2023, our Century Complete operations in Texas were realigned and are now managed under our Texas segment. Accordingly, we have presented segment information under this new basis as of and for the three and six months ended June 30, 2023, and we have restated the corresponding segment information for those segments as of December 31, 2022 and for the three and six months ended June 30, 2022.

We have identified our Financial Services operations, which provide mortgage, title, and insurance services to our homebuyers, as a sixth reportable segment. Our Corporate operations are a non-operating segment, as 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,
	2023		2022		2023		2022
Revenue:
West	$	139,292	$	293,839	$	268,373	$	556,548
Mountain		230,103		283,002		476,378		564,362
Texas		126,618		153,389		216,150		291,953
Southeast		117,320		180,556		204,446		330,157
Century Complete		206,581		232,559		391,702		390,370
Financial Services		24,277		22,797		40,132		49,102
Corporate		—		—		—		—
Total revenue	$	844,191	$	1,166,142	$	1,597,181	$	2,182,492

Income (loss) before income tax expense:
West	$	14,966	$	77,945	$	22,939	$	149,187
Mountain		24,689		51,500		52,497		108,503
Texas		11,452		30,664		15,125		53,500
Southeast		17,992		38,782		29,958		69,647
Century Complete		16,348		34,797		30,298		57,219
Financial Services		12,507		8,611		17,581		19,762
Corporate		(29,206)		(28,651)		(55,641)		(55,394)
Total income before income tax expense	$	68,748	$	213,648	$	112,757	$	402,424

The following table summarizes total assets by segment (in thousands):



	June 30,		December 31,
	2023		2022
West	$	676,682	$	665,827
Mountain		1,024,418		1,122,892
Texas		524,317		508,862
Southeast		467,930		415,887
Century Complete		353,034		376,131
Financial Services		367,244		372,284
Corporate		443,023		311,884
Total assets	$	3,856,648	$	3,773,767

Corporate assets primarily include certain cash and cash equivalents, certain property and equipment, costs associated with development of multi-family rental properties, prepaid insurance, and deferred financing costs on our revolving line of credit.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Inventories

6 Months Ended

Jun. 30, 2023

Inventories [Abstract]

Inventories

3. Inventories

Inventories included the following (in thousands):



	June 30,		December 31,
	2023		2022
Homes under construction	$	1,262,462	$	1,213,919
Land and land development		1,524,181		1,554,951
Capitalized interest		69,745		61,775
Total inventories	$	2,856,388	$	2,830,645

Financial Services

6 Months Ended

Jun. 30, 2023

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. Approximately all of the mortgage loans closed by Inspire are made to buyers of homes we build and Inspire receives an allocation of intersegment revenue from our homebuilding segments related to financing incentives given to our homebuyers. Inspire sells substantially all of the loans it originates either as loans with servicing rights released, or with servicing rights retained, in the secondary mortgage market within a short period of time after origination, generally within 30 days. Inspire primarily finances these loans using its mortgage repurchase facilities.

As of June 30, 2023 and December 31, 2022, Inspire had mortgage loans held for sale with an aggregate fair value of $195.6 million and $203.6 million, respectively, and an aggregate outstanding principal balance of $195.6 million and $202.0 million, respectively. 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, and were $0.4 million and $10.8 million for the three and six months ended June 30, 2022, respectively. Losses from the change in fair value for mortgage loans held for sale were $2.0 million and $2.0 million for the three and six months ended June 30, 2023, respectively. Gains from the change in fair value for mortgage loans held for sale was $1.1 million for the three months ended June 30, 2022, and losses from the change in fair value for mortgage loans held for sale was $8.6 million for the six months ended June 30, 2022. 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 our condensed 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 our condensed consolidated statements of operations.

Mortgage loans in process for which interest rates were locked by borrowers, or interest rate lock commitments, totaled approximately $115.5 million and $68.1 million at June 30, 2023 and December 31, 2022, respectively, and carried a weighted average interest rate of approximately 5.7% and 6.1%, respectively. Interest rate risks related to these obligations are typically mitigated by the preselling of loans to investors or through our interest rate hedging program. 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 Assets

6 Months Ended

Jun. 30, 2023

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,
	2023		2022
Prepaid insurance	$	25,198	$	31,716
Lot option and escrow deposits		41,190		48,354
Performance deposits		12,648		12,626
Restricted cash ⁽¹⁾		18,803		11,768
Multi-family rental properties under construction		98,006		56,615
Mortgage loans held for investment at fair value		20,559		18,875
Mortgage loans held for investment at amortized cost		6,971		6,574
Mortgage servicing rights		26,631		24,164
Derivative assets		3,834		1,958
Other assets and prepaid expenses		33,608		37,885
Total prepaid expenses and other assets	$	287,448	$	250,535

(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 Liabilities

6 Months Ended

Jun. 30, 2023

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,
	2023		2022
Earnest money deposits	$	18,871	$	17,903
Warranty reserve		12,984		13,136
Self-insurance reserve		21,477		16,998
Accrued compensation costs		46,823		80,415
Land development and home construction accruals		119,086		128,483
Accrued interest		10,195		10,670
Derivative liabilities		—		1,526
Other accrued liabilities		36,930		30,457
Total accrued expenses and other liabilities	$	266,366	$	299,588

Warranties

6 Months Ended

Jun. 30, 2023

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 decreased our warranty reserve by $0.2 million during the three months ended June 30, 2023 and increased our warranty reserve by $0.1 million during the three months ended June 30, 2022, respectively, and we reduced our warranty reserve by $0.7 million and $0.5 million during the six months ended June 30, 2023 and 2022, 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, 2023 and 2022 are detailed in the table below (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Beginning balance	$	12,331	$	13,503	$	13,136	$	13,343
Warranty expense provisions		2,472		2,245		4,301		4,147
Payments		(1,593)		(1,679)		(3,769)		(2,867)
Warranty adjustment		(226)		58		(684)		(496)
Ending balance	$	12,984	$	14,127	$	12,984	$	14,127

Self-Insurance Reserve

6 Months Ended

Jun. 30, 2023

Self-Insurance Reserve [Abstract]

Self-Insurance Reserve

8. Self-Insurance Reserve

We maintain general liability insurance coverage, including coverage for certain construction defects. These insurance policies protect us against a portion of the risk of loss from claims, subject to certain self-insured per occurrence and aggregate retentions, deductibles, and available policy limits. In circumstances where we have elected to retain a higher portion of the overall risk for construction defect claims in return for a lower initial premium, we reserve for the estimated costs that we will incur that are above our coverage limits or that are not covered by our insurance policies. The reserve is recorded on an undiscounted basis at the time revenue is recognized for each home closing. Amounts accrued, which are included in accrued expenses and other liabilities on the 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, 2023 and 2022, 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, 2023 and 2022 are detailed in the table below (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Beginning balance	$	19,076	$	7,475	$	16,998	$	5,103
Self-insurance expense provisions		2,444		2,678		4,559		5,050
Payments		(43)		—		(80)		—
Self-insurance adjustment		—		—		—		—
Ending balance	$	21,477	$	10,153	$	21,477	$	10,153

Debt

6 Months Ended

Jun. 30, 2023

Debt [Abstract]

Debt

9. Debt

Our outstanding debt obligations included the following as of June 30, 2023 and December 31, 2022 (in thousands):


	June 30,		December 31,
	2023		2022
3.875% senior notes, due August 2029⁽¹⁾	$	495,270	$	494,884
6.750% senior notes, due June 2027⁽¹⁾		496,802		496,394
Other financing obligations⁽²⁾		38,710		28,134
Notes payable		1,030,782		1,019,412
Revolving line of credit		—		—
Mortgage repurchase facilities		191,024		197,626
Total debt	$	1,221,806	$	1,217,038

⁽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, 2023, other financing obligations included $17.6 million related to insurance premium notes and certain secured borrowings, as well as $21.1 million outstanding under construction loan agreements. As of December 31, 2022, other financing obligations included $20.7 million related to insurance premium notes and certain secured borrowings, as well as $7.4 million outstanding under construction loan agreements.

Construction Loan Agreements

On March 17, 2023, a wholly owned subsidiary of Century Living, LLC entered into a construction loan agreement with UMB Bank, N.A., and certain wholly owned subsidiaries of Century Living, LLC, are party to construction loan agreements entered into during 2022 with PNC Bank, National Association and U.S. Bank National Association, a national banking association, d/b/a Housing Capital Company (which along with UMB Bank, N.A., we collectively refer to as “the lenders”), respectively. The three 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 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 and until the projects are completed.

As of June 30, 2023, $21.1 million was outstanding under the construction loan agreements, with borrowings that bore a weighted average interest rate of 7.1% during the six months ended June 30, 2023, and we were in compliance with all covenants thereunder.

Revolving Line of Credit

In 2021, we entered into a Second Amended and Restated Credit Agreement (which we refer to as the “Second A&R Credit Agreement”) with Texas Capital Bank, National Association, as Administrative Agent and L/C Issuer, and the lenders party thereto. The Second A&R Credit Agreement, which amended and restated our prior Amended and Restated Credit Agreement, provides us with a senior unsecured revolving line of credit (which we refer to as the “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. Under the terms of the Second A&R Credit Agreement, the Company is 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. On December 21, 2022, we entered into a First Modification Agreement with Texas Capital Bank (formerly known as Texas Capital Bank, National Association), as Administrative Agent, amending the Second A&R Credit Agreement pursuant to which, effective January 3, 2023, all existing borrowings using an interest rate based on a LIBOR reference rate had the interest rate replaced with one based on an adjusted term SOFR reference rate, which equals the greater of (i) 0.50% or (ii) the one-month quotation of the secured overnight financing rate administered by the Federal Reserve Bank of New York, plus 0.10%.

As of June 30, 2023 and December 31, 2022, no amounts were outstanding under the revolving line of credit, respectively, and we were in compliance with all covenants under the Second A&R Credit Agreement.

Mortgage Repurchase Facilities – Financial Services

Inspire is a party to mortgage warehouse facilities with Comerica Bank and J.P. Morgan, (which facilities we refer to as the “repurchase facilities”), which provide Inspire with uncommitted repurchase facilities of up to an aggregate of $275.0 million as of June 30, 2023, secured by the mortgage loans financed thereunder. The repurchase facilities have varying short term maturity dates through June 21, 2024 and bore a weighted average interest rate of 6.67% during the six months ended June 30, 2023.

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, 2023 and December 31, 2022, we had $191.0 million and $197.6 million outstanding under the repurchase facilities, respectively, and were in compliance with all covenants thereunder.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Interest on Senior Notes and Revolving Line of Credit

6 Months Ended

Jun. 30, 2023

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, 2023 and 2022, 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,
	2023		2022		2023		2022
Interest capitalized beginning of period	$	65,984	$	55,252	$	61,775	$	53,379
Interest capitalized during period		14,031		15,345		28,047		29,364
Less: capitalized interest in cost of sales		(10,270)		(13,473)		(20,077)		(25,619)
Interest capitalized end of period	$	69,745	$	57,124	$	69,745	$	57,124

Income Taxes

6 Months Ended

Jun. 30, 2023

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 2023 estimated annual effective tax rate, before discrete items, of 25.5% is driven by our blended federal and state statutory rate of 24.7%, and certain permanent differences between GAAP and tax, including disallowed deductions for executive compensation and estimated federal energy home credits for the current year home deliveries, which combined resulted in a net increase of 0.8%.

For the six months ended June 30, 2023, our estimated annual rate of 25.5% was benefitted by discrete items which had a net impact of decreasing our rate by 0.7%, including excess tax benefits for vested stock-based compensation.

Our estimated annual rate for the six months ended June 30, 2023 of 25.5% increased by 310 basis points as compared to our effective tax rate for the year ended December 31, 2022 of 22.4%. The increase in our estimated rate is primarily a result of the enactment of the Inflation Reduction Act of 2022 during the third quarter of 2022, which modified the energy efficient home credit beginning with homes closed on or after January 1, 2023 and provided for more stringent energy standards than previous periods, resulting in fewer closings qualifying for energy efficient home credits.

For the three months ended June 30, 2023 and 2022, we recorded income tax expense of $17.3 million and $55.0 million, respectively. For the six months ended June 30, 2023 and 2022, we recorded income tax expense of $28.0 million and $101.3 million, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Fair Value Disclosures

6 Months Ended

Jun. 30, 2023

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 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, 2023 and December 31, 2022, respectively (in thousands):


			June 30,		December 31,
	Balance Sheet Classification	Hierarchy	2023		2022

Mortgage loans held for sale	Mortgage loans held for sale	Level 2	$	195,598	$	203,558
Mortgage loans held for investment at fair value ⁽¹⁾	Prepaid expenses and other assets	Level 3	$	20,559	$	18,875
Derivative assets	Prepaid expenses and other assets	Level 2	$	3,834	$	1,958
Mortgage servicing rights ⁽²⁾	Prepaid expenses and other assets	Level 3	$	26,631	$	24,164
Derivative liabilities	Accrued expenses and other liabilities	Level 2	$	—	$	1,526

⁽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 9.0%, 9.6%, and $0.071 per year per loan, respectively, as of June 30, 2023, and 7.6%, 9.0%, and $0.072 per year per loan, respectively, as of December 31, 2022. 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		2023		2022		2023		2022
Beginning of period	$	23,901	$	18,050	$	24,164	$	13,701
Originations		1,059		1,967		2,104		5,373
Settlements		(410)		(230)		(561)		(535)
Changes in fair value		2,081		409		924		1,657
End of period	$	26,631	$	20,196	$	26,631	$	20,196

	Three Months Ended June 30,				Six Months Ended June 30,
Mortgage loans held-for-investment at fair value		2023		2022		2023		2022
Beginning of period	$	20,078	$	13,955	$	18,875	$	10,631
Transfers from loans held for sale		1,730		1,216		3,164		5,142
Settlements		(681)		(592)		(681)		(1,121)
Reduction in unpaid principal balance		(529)		(70)		(633)		(124)
Changes in fair value		(39)		—		(166)		(19)
End of period	$	20,559	$	14,509	$	20,559	$	14,509

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, 2023 and December 31, 2022, respectively (in thousands).



		June 30, 2023				December 31, 2022

	Hierarchy	Carrying		Fair Value		Carrying		Fair Value
Cash and cash equivalents	Level 1	$	350,488	$	350,488	$	296,724	$	296,724
3.875% senior notes ⁽¹⁾⁽²⁾	Level 2	$	495,270	$	431,250	$	494,884	$	395,000
6.750% senior notes ⁽¹⁾⁽²⁾	Level 2	$	496,802	$	498,125	$	496,394	$	477,500
Revolving line of credit⁽³⁾	Level 2	$	—	$	—	$	—	$	—
Other financing obligations⁽³⁾⁽⁴⁾	Level 3	$	38,710	$	38,710	$	28,134	$	28,134
Mortgage repurchase facilities⁽³⁾	Level 2	$	191,024	$	191,024	$	197,626	$	197,626

⁽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, 2023, these amounts totaled $4.7 million and $3.2 million for the 3.875% senior notes and 6.750% senior notes, respectively. As of December 31, 2022, these amounts totaled $5.1 million and $3.6 million for the 3.875% senior notes and 6.750% senior notes, respectively.

⁽³⁾Carrying amount approximates fair value due to short-term nature and/or interest rate terms.

⁽⁴⁾Other financing obligations included $17.6 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 2.40% to 6.40%, and $21.1 million related to outstanding borrowings on the construction loan agreements that bore a weighted average interest rate of 7.1% during the period ended June 30, 2023. Other financing obligations included $20.7 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 2.40% to 5.84%, and $7.4 million related to outstanding borrowings on the construction loan agreements that bore a weighted average interest rate of 5.6% during the period ended December 31, 2022.

Non-financial assets and liabilities include items such as inventory and property and equipment that are measured at fair value when acquired and as a result of impairments, if deemed necessary. No impairment charges were recorded in the three and six months ended June 30, 2023 and 2022. 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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stock-Based Compensation

6 Months Ended

Jun. 30, 2023

Stock-Based Compensation [Abstract]

Stock-Based Compensation

13. Stock-Based Compensation

During the six months ended June 30, 2023 and 2022, 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 $62.61 and $63.77 per share, respectively, that primarily vest over a three year period. During the six months ended June 30, 2023 and 2022, 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 $65.77 and $54.46 per share, respectively, to our non-employee directors.

During the six months ended June 30, 2023 and 2022, we granted performance share units (which we refer to as “PSUs”) covering up to 0.5 million and 0.5 million shares of common stock, respectively, assuming maximum level of performance, with a grant date fair value of $60.05 and $55.93 per share, respectively, that are subject to both service and performance vesting conditions. The quantity of shares that will ultimately vest for the PSUs ranges from 0% to up to 250% of a targeted number of shares for each participant and will be determined based on an achievement of a three year adjusted pre-tax income performance goal. During the six months ended June 30, 2023 and 2022, we issued 0.3 million and 0.3 million shares of common stock, respectively, upon the vesting and settlement of PSUs that were granted in previous periods. Approximately 1.1 million shares will vest from 2024 to 2026 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):


	As of June 30, 2023
Unvested units		1,014
Unrecognized compensation cost	$	32,703
Weighted-average years to recognize compensation cost		2.04

During the three months ended June 30, 2023 and 2022, we recognized stock-based compensation expense of $8.9 million and $5.7 million, respectively. During the six months ended June 30, 2023 and 2022, we recognized stock-based compensation expense of $14.3 million and $9.8 million, respectively. Stock-based compensation expense is included in selling, general, and administrative expense on our condensed consolidated statements of operations.

During the three months ended June 30, 2023, in accordance with ASC 718, Compensation—Stock Compensation we updated our recognition of stock-based compensation expense associated with previously granted PSU awards to reflect probable financial results as they relate to the performance goals of the awards. Accordingly, our estimate of the number of shares which will ultimately vest under our PSU awards increased by 90.0 thousand, and we recorded a cumulative catch-up adjustment to increase stock-based compensation expense of $3.4 million ($2.5 million net of tax), or $0.08 per share (basic and diluted), for the three and six months ended June 30, 2023.

Stockholders' Equity

6 Months Ended

Jun. 30, 2023

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, 2023 and December 31, 2022, there were 32.0 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, 2023 and 2022, we issued 0.4 million and 0.5 million shares of common stock, respectively, related to the vesting and settlement of RSUs and PSUs. As of June 30, 2023, approximately 2.5 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, 2023 and 2022, respectively (in thousands, except per share information):



			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

			Six Months ended June 30, 2022
			Cash Dividends Declared and Paid
Declaration Date	Record Date	Paid Date	Per Share		Amount
February 16, 2022	March 2, 2022	March 16, 2022	$	0.20	$	6,657
May 18, 2022	June 1, 2022	June 15, 2022	$	0.20	$	6,568

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.

We are party to a Distribution Agreement with J.P. Morgan Securities LLC, BofA Securities, Inc., Wells Fargo Securities, LLC, and Fifth Third Securities, Inc. (which we refer to as the “Distribution Agreement”), as sales agents pursuant to which we may offer and sell shares of our common stock having an aggregate offering price of up to $100.0 million from time to time through any of the sales agents party thereto in “at-the-market” offerings, in accordance with the terms and conditions set forth in the Distribution Agreement. The Distribution Agreement will remain in full force and effect until terminated by either party pursuant to the terms of the agreement or such date that the maximum offering amount has been sold in accordance with the terms of the agreement. We did not sell or issue any shares of our common stock during the three and six months ended June 30, 2023 and 2022, and as of June 30, 2023, all $100.0 million remained available for sale.

We authorized a stock repurchase program in 2018, under which we may repurchase up to 4.5 million shares of our outstanding common stock. During the 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. During the three and six months ended June 30, 2022, an aggregate of 0.8 million and 1.8 million shares, respectively, were repurchased for a total purchase price of approximately $35.9 million and $98.3 million, respectively, and a weighted average price of $45.42 and $54.46 per share, respectively. The maximum number of shares available to be repurchased under the stock repurchase program as of June 30, 2023 was 1,477,817 shares.

During the six months ended June 30, 2023 and 2022, shares of common stock at a total cost of $10.6 million and $12.7 million, respectively, were netted and surrendered as payment for minimum statutory withholding obligations in connection with the vesting of outstanding stock-based compensation awards. Shares surrendered by the participants in accordance with the applicable award agreements and plan are deemed repurchased and retired by us but are not part of our publicly announced share repurchase programs.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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-Name Accounting Standards Codification
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-Section 50
-Paragraph 13
-Subparagraph (b)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Earnings Per Share

6 Months Ended

Jun. 30, 2023

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, 2023 and 2022 (in thousands, except share and per share information):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator
Net income	$	51,445	$	158,668	$	84,756	$	301,164
Denominator
Weighted average common shares outstanding - basic		32,025,186		32,839,402		31,970,106		33,183,097
Dilutive effect of stock-based compensation awards		222,210		387,981		212,439		399,803
Weighted average common shares outstanding - diluted		32,247,396		33,227,383		32,182,545		33,582,900
Earnings per share:
Basic	$	1.61	$	4.83	$	2.65	$	9.08
Diluted	$	1.60	$	4.78	$	2.63	$	8.97

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 0.9 million and 0.5 million common stock unit equivalents from diluted earnings per share during each of the three months ended June 30, 2023 and 2022, respectively, and we excluded 0.7 million and 0.5 million common stock unit equivalents from diluted earnings per share during the six months ended June 30, 2023 and 2022, respectively, related to the PSUs for which performance conditions remained unsatisfied.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

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, 2023 and December 31, 2022, we had $546.1 million and $574.8 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)	6 Months Ended
Basis of Presentation (Policy)	Jun. 30, 2023
Basis of Presentation [Abstract]
Basis of Accounting	Century Communities, Inc. (which we refer to as “we,” “CCS,” or the “Company”), together with its subsidiaries, is engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 18 states. In many of our projects, in addition to building homes, we are responsible for the entitlement and development of the underlying land. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand targets a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade opportunities. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade opportunities. Our homebuilding operations are organized into the following five reportable segments: West, Mountain, Texas, Southeast, and Century Complete. Our indirect wholly-owned subsidiaries, Inspire Home Loans Inc., Parkway Title, LLC, and IHL Home Insurance Agency, LLC, which provide mortgage, title, and insurance services, respectively, primarily to our homebuyers, have been identified as our Financial Services segment. Additionally, our wholly owned subsidiary, Century Living, LLC, is engaged in the development, construction and management of multi-family rental properties, 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, 2022, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 that was filed with the SEC on February 2, 2023.
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.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to current period presentation.
Recently Adopted Accounting Standards	Recently Issued Accounting Standards There are no recent accounting standards that are expected to have a material impact on our consolidated financial statements.

Reporting Segments (Tables)

6 Months Ended

Jun. 30, 2023

Reporting Segments [Abstract]

Schedule of Total Revenue and Pretax Income (loss) by Segment




	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenue:
West	$	139,292	$	293,839	$	268,373	$	556,548
Mountain		230,103		283,002		476,378		564,362
Texas		126,618		153,389		216,150		291,953
Southeast		117,320		180,556		204,446		330,157
Century Complete		206,581		232,559		391,702		390,370
Financial Services		24,277		22,797		40,132		49,102
Corporate		—		—		—		—
Total revenue	$	844,191	$	1,166,142	$	1,597,181	$	2,182,492

Income (loss) before income tax expense:
West	$	14,966	$	77,945	$	22,939	$	149,187
Mountain		24,689		51,500		52,497		108,503
Texas		11,452		30,664		15,125		53,500
Southeast		17,992		38,782		29,958		69,647
Century Complete		16,348		34,797		30,298		57,219
Financial Services		12,507		8,611		17,581		19,762
Corporate		(29,206)		(28,651)		(55,641)		(55,394)
Total income before income tax expense	$	68,748	$	213,648	$	112,757	$	402,424

Schedule of Total Assets by Segment



	June 30,		December 31,
	2023		2022
West	$	676,682	$	665,827
Mountain		1,024,418		1,122,892
Texas		524,317		508,862
Southeast		467,930		415,887
Century Complete		353,034		376,131
Financial Services		367,244		372,284
Corporate		443,023		311,884
Total assets	$	3,856,648	$	3,773,767

Inventories (Tables)

6 Months Ended

Jun. 30, 2023

Inventories [Abstract]

Schedule of Inventory



	June 30,		December 31,
	2023		2022
Homes under construction	$	1,262,462	$	1,213,919
Land and land development		1,524,181		1,554,951
Capitalized interest		69,745		61,775
Total inventories	$	2,856,388	$	2,830,645

Prepaid Expenses and Other Assets (Tables)

6 Months Ended

Jun. 30, 2023

Prepaid Expenses and Other Assets [Abstract]

Schedule of Prepaid Expenses and Other Assets


	June 30,		December 31,
	2023		2022
Prepaid insurance	$	25,198	$	31,716
Lot option and escrow deposits		41,190		48,354
Performance deposits		12,648		12,626
Restricted cash ⁽¹⁾		18,803		11,768
Multi-family rental properties under construction		98,006		56,615
Mortgage loans held for investment at fair value		20,559		18,875
Mortgage loans held for investment at amortized cost		6,971		6,574
Mortgage servicing rights		26,631		24,164
Derivative assets		3,834		1,958
Other assets and prepaid expenses		33,608		37,885
Total prepaid expenses and other assets	$	287,448	$	250,535

(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 Liabilities (Tables)

6 Months Ended

Jun. 30, 2023

Accrued Expenses and Other Liabilities [Abstract]

Schedule of Accrued Expenses and Other Liabilities



	June 30,		December 31,
	2023		2022
Earnest money deposits	$	18,871	$	17,903
Warranty reserve		12,984		13,136
Self-insurance reserve		21,477		16,998
Accrued compensation costs		46,823		80,415
Land development and home construction accruals		119,086		128,483
Accrued interest		10,195		10,670
Derivative liabilities		—		1,526
Other accrued liabilities		36,930		30,457
Total accrued expenses and other liabilities	$	266,366	$	299,588

Warranties (Tables)

6 Months Ended

Jun. 30, 2023

Warranties [Abstract]

Schedule of Changes in Warranty Accrual



	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Beginning balance	$	12,331	$	13,503	$	13,136	$	13,343
Warranty expense provisions		2,472		2,245		4,301		4,147
Payments		(1,593)		(1,679)		(3,769)		(2,867)
Warranty adjustment		(226)		58		(684)		(496)
Ending balance	$	12,984	$	14,127	$	12,984	$	14,127

Self-Insurance Reserve (Tables)

6 Months Ended

Jun. 30, 2023

Self-Insurance Reserve [Abstract]

Changes In Self Insurance Reserve



	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Beginning balance	$	19,076	$	7,475	$	16,998	$	5,103
Self-insurance expense provisions		2,444		2,678		4,559		5,050
Payments		(43)		—		(80)		—
Self-insurance adjustment		—		—		—		—
Ending balance	$	21,477	$	10,153	$	21,477	$	10,153

Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt [Abstract]

Schedule of Outstanding Debt Obligations


	June 30,		December 31,
	2023		2022
3.875% senior notes, due August 2029⁽¹⁾	$	495,270	$	494,884
6.750% senior notes, due June 2027⁽¹⁾		496,802		496,394
Other financing obligations⁽²⁾		38,710		28,134
Notes payable		1,030,782		1,019,412
Revolving line of credit		—		—
Mortgage repurchase facilities		191,024		197,626
Total debt	$	1,221,806	$	1,217,038

⁽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, 2023, other financing obligations included $17.6 million related to insurance premium notes and certain secured borrowings, as well as $21.1 million outstanding under construction loan agreements. As of December 31, 2022, other financing obligations included $20.7 million related to insurance premium notes and certain secured borrowings, as well as $7.4 million outstanding under construction loan agreements.

Interest on Senior Notes and Revolving Line of Credit (Tables)

6 Months Ended

Jun. 30, 2023

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,
	2023		2022		2023		2022
Interest capitalized beginning of period	$	65,984	$	55,252	$	61,775	$	53,379
Interest capitalized during period		14,031		15,345		28,047		29,364
Less: capitalized interest in cost of sales		(10,270)		(13,473)		(20,077)		(25,619)
Interest capitalized end of period	$	69,745	$	57,124	$	69,745	$	57,124

Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value


			June 30,		December 31,
	Balance Sheet Classification	Hierarchy	2023		2022

Mortgage loans held for sale	Mortgage loans held for sale	Level 2	$	195,598	$	203,558
Mortgage loans held for investment at fair value ⁽¹⁾	Prepaid expenses and other assets	Level 3	$	20,559	$	18,875
Derivative assets	Prepaid expenses and other assets	Level 2	$	3,834	$	1,958
Mortgage servicing rights ⁽²⁾	Prepaid expenses and other assets	Level 3	$	26,631	$	24,164
Derivative liabilities	Accrued expenses and other liabilities	Level 2	$	—	$	1,526

⁽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 9.0%, 9.6%, and $0.071 per year per loan, respectively, as of June 30, 2023, and 7.6%, 9.0%, and $0.072 per year per loan, respectively, as of December 31, 2022. 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		2023		2022		2023		2022
Beginning of period	$	23,901	$	18,050	$	24,164	$	13,701
Originations		1,059		1,967		2,104		5,373
Settlements		(410)		(230)		(561)		(535)
Changes in fair value		2,081		409		924		1,657
End of period	$	26,631	$	20,196	$	26,631	$	20,196

	Three Months Ended June 30,				Six Months Ended June 30,
Mortgage loans held-for-investment at fair value		2023		2022		2023		2022
Beginning of period	$	20,078	$	13,955	$	18,875	$	10,631
Transfers from loans held for sale		1,730		1,216		3,164		5,142
Settlements		(681)		(592)		(681)		(1,121)
Reduction in unpaid principal balance		(529)		(70)		(633)		(124)
Changes in fair value		(39)		—		(166)		(19)
End of period	$	20,559	$	14,509	$	20,559	$	14,509

Schedule of Carrying Values and Fair Values of Financial Instruments



		June 30, 2023				December 31, 2022

	Hierarchy	Carrying		Fair Value		Carrying		Fair Value
Cash and cash equivalents	Level 1	$	350,488	$	350,488	$	296,724	$	296,724
3.875% senior notes ⁽¹⁾⁽²⁾	Level 2	$	495,270	$	431,250	$	494,884	$	395,000
6.750% senior notes ⁽¹⁾⁽²⁾	Level 2	$	496,802	$	498,125	$	496,394	$	477,500
Revolving line of credit⁽³⁾	Level 2	$	—	$	—	$	—	$	—
Other financing obligations⁽³⁾⁽⁴⁾	Level 3	$	38,710	$	38,710	$	28,134	$	28,134
Mortgage repurchase facilities⁽³⁾	Level 2	$	191,024	$	191,024	$	197,626	$	197,626

⁽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, 2023, these amounts totaled $4.7 million and $3.2 million for the 3.875% senior notes and 6.750% senior notes, respectively. As of December 31, 2022, these amounts totaled $5.1 million and $3.6 million for the 3.875% senior notes and 6.750% senior notes, respectively.

⁽³⁾Carrying amount approximates fair value due to short-term nature and/or interest rate terms.

⁽⁴⁾Other financing obligations included $17.6 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 2.40% to 6.40%, and $21.1 million related to outstanding borrowings on the construction loan agreements that bore a weighted average interest rate of 7.1% during the period ended June 30, 2023. Other financing obligations included $20.7 million related to insurance premium notes and certain secured borrowings that generally bore interest rates ranging from 2.40% to 5.84%, and $7.4 million related to outstanding borrowings on the construction loan agreements that bore a weighted average interest rate of 5.6% during the period ended December 31, 2022.

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Stock-Based Compensation [Abstract]

Summary of Outstanding RSUs and PSUs


	As of June 30, 2023
Unvested units		1,014
Unrecognized compensation cost	$	32,703
Weighted-average years to recognize compensation cost		2.04

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity [Abstract]

Schedule of Dividends Declared



			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

			Six Months ended June 30, 2022
			Cash Dividends Declared and Paid
Declaration Date	Record Date	Paid Date	Per Share		Amount
February 16, 2022	March 2, 2022	March 16, 2022	$	0.20	$	6,657
May 18, 2022	June 1, 2022	June 15, 2022	$	0.20	$	6,568

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator
Net income	$	51,445	$	158,668	$	84,756	$	301,164
Denominator
Weighted average common shares outstanding - basic		32,025,186		32,839,402		31,970,106		33,183,097
Dilutive effect of stock-based compensation awards		222,210		387,981		212,439		399,803
Weighted average common shares outstanding - diluted		32,247,396		33,227,383		32,182,545		33,582,900
Earnings per share:
Basic	$	1.61	$	4.83	$	2.65	$	9.08
Diluted	$	1.60	$	4.78	$	2.63	$	8.97

Basis of Presentation (Narrative) (Details)	6 Months Ended
Basis of Presentation (Narrative) (Details)	Jun. 30, 2023 state segment
Basis of Presentation [Abstract]
Number of operating states \| state	18
Number of reportable segments \| segment	5

Reporting Segments (Narrative) (Details)	6 Months Ended
Reporting Segments (Narrative) (Details)	Jun. 30, 2023 state region segment
Segment Reporting Information [Line Items]
Number of operating states	18
Number of reportable segments \| segment	5
Century Complete [Member]
Segment Reporting Information [Line Items]
Number of operating states	11
Number of operating regions \| region	4

Reporting Segments (Schedule of Total Revenue and Pretax Income (loss) by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 844,191	$ 1,166,142	$ 1,597,181	$ 2,182,492
Total income before income tax expense	68,748	213,648	112,757	402,424
West [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	139,292	293,839	268,373	556,548
Total income before income tax expense	14,966	77,945	22,939	149,187
Mountain [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	230,103	283,002	476,378	564,362
Total income before income tax expense	24,689	51,500	52,497	108,503
Texas [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	126,618	153,389	216,150	291,953
Total income before income tax expense	11,452	30,664	15,125	53,500
Southeast [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	117,320	180,556	204,446	330,157
Total income before income tax expense	17,992	38,782	29,958	69,647
Century Complete [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	206,581	232,559	391,702	390,370
Total income before income tax expense	16,348	34,797	30,298	57,219
Financial Services [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenue	24,277	22,797	40,132	49,102
Total income before income tax expense	12,507	8,611	17,581	19,762
Corporate [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total income before income tax expense	$ (29,206)	$ (28,651)	$ (55,641)	$ (55,394)

Reporting Segments (Schedule of Total Assets by Segment) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total assets	$ 3,856,648	$ 3,773,767
West [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	676,682	665,827
Mountain [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	1,024,418	1,122,892
Texas [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	524,317	508,862
Southeast [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	467,930	415,887
Century Complete [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	353,034	376,131
Financial Services [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	367,244	372,284
Corporate [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 443,023	$ 311,884

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Inventories [Abstract]
Homes under construction	$ 1,262,462		$ 1,213,919
Land and land development	1,524,181		1,554,951
Capitalized interest	69,745	$ 65,984	61,775	$ 57,124	$ 55,252	$ 53,379
Total inventories	$ 2,856,388		$ 2,830,645

Financial Services (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Financial Services [Line Items]
Mortgage loans in process	$ 115,500		$ 115,500		$ 68,100
Mortgage loans held for sale	195,598		195,598		203,558
Mortgage loans held for sale aggregate outstanding principal balance	195,600		195,600		$ 202,000
Net gains (losses) on the sale of mortgage loans	1,700	$ 400	3,500	$ 10,800
Increase (Decrease) in Loans Held-for-sale	(2,000)	1,100	(2,000)	(8,600)
Revenues	$ 844,191	$ 1,166,142	$ 1,597,181	$ 2,182,492
Weighted Average [Member]
Financial Services [Line Items]
Interest rate	5.70%		5.70%		6.10%

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Prepaid Expenses and Other Assets (Schedule of Prepaid Expenses and Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Prepaid Expenses and Other Assets [Abstract]
Prepaid insurance	$ 25,198	$ 31,716
Lot option and escrow deposits	41,190	48,354
Performance deposits	12,648	12,626
Restricted cash	18,803	11,768
Multi-family rental properties under construction	98,006	56,615
Mortgage loans held for investment at fair value	20,559	18,875
Mortgage loans held for investment at amortized cost	6,971	6,574
Mortgage servicing rights	26,631	24,164
Derivative assets	3,834	1,958
Other assets and prepaid expenses	33,608	37,885
Total prepaid expenses and other assets	$ 287,448	$ 250,535

Accrued Expenses and Other Liabilities (Schedule of Accrued Expenses and Other Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Accrued Expenses and Other Liabilities [Abstract]
Earnest money deposits	$ 18,871		$ 17,903
Warranty reserve	12,984	$ 12,331	13,136	$ 14,127	$ 13,503	$ 13,343
Self-insurance reserve	21,477	$ 19,076	16,998	$ 10,153	$ 7,475	$ 5,103
Accrued compensation costs	46,823		80,415
Land development and home construction accruals	119,086		128,483
Accrued interest	$ 10,195		10,670
Derivative liabilities			$ 1,526
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Total accrued expenses and other liabilities		Total accrued expenses and other liabilities
Other accrued liabilities	$ 36,930		$ 30,457
Total accrued expenses and other liabilities	$ 266,366		$ 299,588

Warranties (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Warranties (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Warranties [Abstract]
Warranty reserve adjustment	$ (226)	$ 58	$ (684)	$ (496)

Warranties (Schedule of Changes in Warranty Accrual) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Warranties [Abstract]
Beginning balance	$ 12,331	$ 13,503	$ 13,136	$ 13,343
Warranty expense provisions	2,472	2,245	4,301	4,147
Payments	(1,593)	(1,679)	(3,769)	(2,867)
Warranty adjustment	(226)	58	(684)	(496)
Ending balance	$ 12,984	$ 14,127	$ 12,984	$ 14,127

Self-Insurance Reserve (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
Self-Insurance Reserve (Narrative) (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Self-Insurance Reserve [Abstract]
Self-insurance adjustment	$ 0	$ 0	$ 0	$ 0

Self-Insurance Reserve (Changes In Self Insurance Reserve) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Self-Insurance Reserve [Abstract]
Beginning balance	$ 19,076,000	$ 7,475,000	$ 16,998,000	$ 5,103,000
Self-insurance expense provisions	2,444,000	2,678,000	4,559,000	5,050,000
Payments	(43,000)		(80,000)
Self-insurance adjustment	0	0	0	0
Ending balance	$ 21,477,000	$ 10,153,000	$ 21,477,000	$ 10,153,000

Debt (Narrative) (Details) $ in Thousands		6 Months Ended
Debt (Narrative) (Details) $ in Thousands	May 21, 2021 USD ($)	Jun. 30, 2023 USD ($) item	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Notes payable		$ 1,030,782	$ 1,019,412
Line of credit facility, outstanding amount
Mortgage repurchase facilities		191,024	197,626
Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Mortgage repurchase facilities		191,000	197,600
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, outstanding amount		$ 0	0
Inspire [Member] \| Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Weighted average interest rate		6.67%
Maximum [Member] \| Inspire [Member] \| Mortgage Repurchase Facilities - Financial Services [Member]
Debt Instrument [Line Items]
Maturity date		Jun. 21, 2024
Line of credit facility. maximum borrowing capacity		$ 275,000
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
Letter of credit sublimit	250,000
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
Construction Loan Agreement [Member]
Debt Instrument [Line Items]
Number of construction loan agreements \| item		3
Principal amount		$ 187,600
Weighted average interest rate		7.10%
Maturity date		Mar. 17, 2028
Notes payable		$ 21,100
Debt instrument, option to extend maturity, term		12 months
Senior Note 3.875% Due August 2029 [Member]
Debt Instrument [Line Items]
Interest rate		3.875%
Notes payable		$ 495,270	$ 494,884

Debt (Schedule of Outstanding Debt Obligations) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Notes payable	$ 1,030,782	$ 1,019,412
Revolving line of credit
Mortgage repurchase facilities	191,024	197,626
Total debt	1,221,806	1,217,038
Senior Note 3.875% Due August 2029 [Member]
Debt Instrument [Line Items]
Notes payable	$ 495,270	494,884
Interest rate	3.875%
Maturity date	2029-08
Senior Notes 6.750% Due May 2027 [Member]
Debt Instrument [Line Items]
Notes payable	$ 496,802	496,394
Interest rate	6.75%
Maturity date	2027-06
Construction Loan Agreement [Member]
Debt Instrument [Line Items]
Notes payable	$ 21,100	7,400
Other Financing Obligations [Member]
Debt Instrument [Line Items]
Notes payable	38,710	28,134
Other Financing Obligations [Member] \| Insurance Premium Notes And Certain Secured Borrowings [Member]
Debt Instrument [Line Items]
Notes payable	$ 17,600	$ 20,700

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest on Senior Notes and Revolving Line of Credit [Abstract]
Interest capitalized beginning of period	$ 65,984	$ 55,252	$ 61,775	$ 53,379
Interest capitalized during period	14,031	15,345	28,047	29,364
Less: capitalized interest in cost of sales	(10,270)	(13,473)	(20,077)	(25,619)
Interest capitalized end of period	$ 69,745	$ 57,124	$ 69,745	$ 57,124

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Tax Examination [Line Items]
Effective tax rate			25.50%			22.40%
Decrease to effective tax rate			0.70%
Difference Between Estimated Annual Tax Rate And Prior Year Effective Tax Rate			3.10%
Income tax expense	$ 17,303	$ 54,980	$ 28,001	$ 101,260
Forecast [Member]
Income Tax Examination [Line Items]
Effective tax rate					25.50%
Blended federal and state statutory rate					24.70%
Decrease to effective tax rate					0.80%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Fair Value Disclosures (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Impairment charge	$ 0	$ 0	$ 0	$ 0

Fair Value Disclosures (Schedule of Assets and Liabilities Measured at Fair Value) (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) $ / item	Dec. 31, 2022 USD ($) $ / item
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for sale	$ 195,598	$ 203,558
Mortgage loans held for investment at fair value	20,559	18,875
Derivative assets	$ 3,834	$ 1,958
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets	Prepaid Expense and Other Assets
Derivative liabilities		$ 1,526
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	0.071	0.072
Prepayment Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing rights rates	9.0	7.6
Discount Rate [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage servicing rights rates	9.6	9.0
Level 2 [Member] \| Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for sale	$ 195,598	$ 203,558
Derivative assets	3,834	1,958
Derivative liabilities		1,526
Level 3 [Member] \| Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for investment at fair value	20,559	18,875
Mortgage servicing rights	$ 26,631	$ 24,164

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Mortgage Servicing Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period			$ 24,164	$ 13,701
Originations			2,104	5,373
Settlements			(561)	(535)
Changes in fair value			924	1,657
End of period	$ 26,631	$ 20,196	26,631	20,196
Mortgage Loans Held-For-Investment [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period			18,875	10,631
Transfers from loans held for sale			3,164	5,142
Settlements			(681)	(1,121)
Reduction in unpaid principal balance			(633)	(124)
Changes in fair value			(166)	(19)
End of period	20,559	14,509	20,559	14,509
Level 3 [Member] \| Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period			24,164
End of period	26,631		26,631
Level 3 [Member] \| Recurring [Member] \| Mortgage Servicing Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period	23,901	18,050
Originations	1,059	1,967
Settlements	(410)	(230)
Changes in fair value	2,081	409
End of period	26,631	20,196	26,631	20,196
Level 3 [Member] \| Recurring [Member] \| Mortgage Loans Held-For-Investment [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning of period	20,078	13,955
Transfers from loans held for sale	1,730	1,216
Settlements	(681)	(592)
Reduction in unpaid principal balance	(529)	(70)
Changes in fair value	(39)
End of period	$ 20,559	$ 14,509	$ 20,559	$ 14,509

Fair Value Disclosures (Schedule of Carrying Values and Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 350,488	$ 296,724	$ 78,011
Revolving line of credit
Mortgage repurchase facilities	191,024	197,626
Notes payable	1,030,782	1,019,412
Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	38,710	28,134
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	$ 4,700	$ 5,100
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	$ 3,200	$ 3,600
Interest rate	6.75%	6.75%
Construction Loan Agreement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	$ 21,100	$ 7,400
Debt, Weighted Average Interest Rate	7.10%	5.60%
Insurance Premium Notes And Certain Secured Borrowings [Member] \| Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	$ 17,600	$ 20,700
Level 1 [Member] \| Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	350,488	296,724
Level 1 [Member] \| Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	350,488	296,724
Level 2 [Member] \| Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolving line of credit
Mortgage repurchase facilities	191,024	197,626
Level 2 [Member] \| Carrying Value [Member] \| Senior Notes 3.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	495,270	494,884
Level 2 [Member] \| Carrying Value [Member] \| Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	496,802	496,394
Level 2 [Member] \| Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolving line of credit
Mortgage repurchase facilities	191,024	197,626
Level 2 [Member] \| Fair Value [Member] \| Senior Notes 3.875% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	431,250	395,000
Level 2 [Member] \| Fair Value [Member] \| Senior Notes 6.750% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	498,125	477,500
Level 3 [Member] \| Carrying Value [Member] \| Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	38,710	28,134
Level 3 [Member] \| Fair Value [Member] \| Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	$ 38,710	$ 28,134
Minimum [Member] \| Insurance Premium Notes And Certain Secured Borrowings [Member] \| Other Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	2.40%	2.40%
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	6.40%	5.84%

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 8.9	$ 5.7	$ 14.3	$ 9.8
Cumulative catch-up adjustment, net of tax	$ 2.5		$ 2.5
Basic earnings per share	$ 1.61	$ 4.83	$ 2.65	$ 9.08
Diluted earnings per share	$ 1.60	$ 4.78	$ 2.63	$ 8.97
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			200,000	200,000
Grant date fair value			$ 62.61	$ 63.77
Awards vesting period			3 years
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested			300,000	300,000
Shares granted			500,000	500,000
Grant date fair value			$ 60.05	$ 55.93
Awards vesting period			3 years
Shares will vest if defined maximum performance targets are met			1,100,000
Shares will vest if defined maximum performance targets are not met			0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period			300,000	300,000
Shares increased	90,000.0
Cumulative catch-up adjustment	$ 3.4		$ 3.4
Basic earnings per share	$ 0.08		$ 0.08
Diluted earnings per share	$ 0.08		$ 0.08
Performance Share Units [Member] \| Tranche One [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target range			0.00%
Performance Share Units [Member] \| Tranche Two [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target range			250.00%
Non-Employee Directors [Member] \| Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			11,000.0	11,000.0
Grant date fair value			$ 65.77	$ 54.46

Stock-Based Compensation (Summary of Outstanding RSUs and PSUs) (Details) - RSUs And PSUs [Member] shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested units \| shares	1,014
Unrecognized compensation cost \| $	$ 32,703
Weighted-average years to recognize compensation cost	2 years 14 days

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	May 04, 2022	Nov. 06, 2018
Class of Stock [Line Items]
Common stock shares authorized	100,000,000.0		100,000,000.0		100,000,000
Common stock, par value	$ 0.01		$ 0.01		$ 0.01
Preferred stock shares authorized	50,000,000.0		50,000,000.0		50,000,000
Preferred stock, par value	$ 0.01		$ 0.01		$ 0.01
Common stock shares issued	32,020,378		32,020,378		31,772,791
Common stock shares outstanding	32,020,378		32,020,378		31,772,791
Preferred stock shares outstanding	0		0		0
Shares authorized to be repurchased							4,500,000
Treasury Stock Acquired, Average Cost Per Share	$ 64.84	$ 45.42	$ 64.84	$ 54.46
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation			$ 10.6	$ 12.7
Common stock repurchased	30,400	800,000	30,400	1,800,000
Common stock repurchased, amount	$ 2.0	$ 35.9	$ 2.0	$ 98.3
Maximum [Member]
Class of Stock [Line Items]
Shares available to be purchased	1,477,817		1,477,817
Omnibus 2022 Incentive Plan [Member]
Class of Stock [Line Items]
Vesting of stock-based compensation awards, shares			400,000	500,000
Common stock shares for stock award issuance	2,500,000		2,500,000			3,100,000
2017 Incentive Plan [Member]
Class of Stock [Line Items]
Common stock shares for stock award issuance						51,200
Distribution Agreement [Member]
Class of Stock [Line Items]
Aggregate offering price			$ 100.0
Available for sale, common stock	$ 100.0		$ 100.0
Common stock shares sold and issued			0	0

Stockholders' Equity (Schedule of Dividends Declared) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Quarterly Dividend Q1 [Member]
Dividends Payable [Line Items]
Declaration Date	Feb. 08, 2023	Feb. 16, 2022
Record Date	Mar. 01, 2023	Mar. 02, 2022
Payable Date	Mar. 15, 2023	Mar. 16, 2022
Cash Dividends Declared, Per Share	$ 0.23	$ 0.20
Cash Dividends Declared, Amount	$ 7,365	$ 6,657
Quarterly Dividend Q2 [Member]
Dividends Payable [Line Items]
Declaration Date	May 17, 2023	May 18, 2022
Record Date	May 31, 2023	Jun. 01, 2022
Payable Date	Jun. 14, 2023	Jun. 15, 2022
Cash Dividends Declared, Per Share	$ 0.23	$ 0.20
Cash Dividends Declared, Amount	$ 7,368	$ 6,568

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Anti-dilutive shares related to PSU's granted	0.9	0.5	0.7	0.5

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator
Net income	$ 51,445	$ 158,668	$ 84,756	$ 301,164
Denominator
Weighted average common shares outstanding - basic	32,025,186	32,839,402	31,970,106	33,183,097
Dilutive effect of stock-based compensation awards	222,210	387,981	212,439	399,803
Weighted average common shares outstanding - diluted	32,247,396	33,227,383	32,182,545	33,582,900
Earnings per share:
Basic	$ 1.61	$ 4.83	$ 2.65	$ 9.08
Diluted	$ 1.60	$ 4.78	$ 2.63	$ 8.97

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Commitments and Contingencies [Abstract]
Outstanding letters of credit and performance bonds	$ 546.1	$ 574.8