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Basic net income (loss) per share of common stock is determined by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share of common stock considers the effect of potentially dilutive instruments outstanding during such period, of which there were none . | text | none | sharesItemType | text: <entity> none </entity> <entity type> sharesItemType </entity type> <context> Basic net income (loss) per share of common stock is determined by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share of common stock considers the effect of potentially dilutive instruments outstanding during such period, of which there were none . </context> | us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
The Adviser will be paid an annual management fee equal to 1.25 % of aggregate NAV represented by the Company’s common stock, payable monthly in arrears. In calculating the management fee, the Company will use its NAV before giving effect to accruals for the management fee, performance fee, distribution fees or distributions payable on its shares. The management fee may be paid, at the Adviser’s election, in cash or shares (in a class or multiple classes of its choosing). | text | 1.25 | percentItemType | text: <entity> 1.25 </entity> <entity type> percentItemType </entity type> <context> The Adviser will be paid an annual management fee equal to 1.25 % of aggregate NAV represented by the Company’s common stock, payable monthly in arrears. In calculating the management fee, the Company will use its NAV before giving effect to accruals for the management fee, performance fee, distribution fees or distributions payable on its shares. The management fee may be paid, at the Adviser’s election, in cash or shares (in a class or multiple classes of its choosing). </context> | us-gaap:ManagementAndServiceFeesBaseRate |
The Adviser may be entitled to a performance fee, which is accrued monthly and payable quarterly (or part thereof that the Advisory Agreement is in effect) in arrears. The performance fee will be equal to 12.5 % of Core Earnings (as defined in the Advisory Agreement) for the immediately preceding quarter, subject to a hurdle rate, expressed as a rate of return on average adjusted capital, equal to 1.25 % per quarter or 5.0 % on an annualized basis. Once Core Earnings in any quarter exceeds the hurdle rate, the Adviser is entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the hurdle rate, until Core Earnings for such quarter equals 1.429 %, or 5.714 % annually, of average adjusted capital. Thereafter, the Adviser is entitled to receive 12.5 % of the Core Earnings. The performance fee may be paid, at the Adviser’s election, in cash or shares (in a series or multiple series of its choosing). | text | 12.5 | percentItemType | text: <entity> 12.5 </entity> <entity type> percentItemType </entity type> <context> The Adviser may be entitled to a performance fee, which is accrued monthly and payable quarterly (or part thereof that the Advisory Agreement is in effect) in arrears. The performance fee will be equal to 12.5 % of Core Earnings (as defined in the Advisory Agreement) for the immediately preceding quarter, subject to a hurdle rate, expressed as a rate of return on average adjusted capital, equal to 1.25 % per quarter or 5.0 % on an annualized basis. Once Core Earnings in any quarter exceeds the hurdle rate, the Adviser is entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the hurdle rate, until Core Earnings for such quarter equals 1.429 %, or 5.714 % annually, of average adjusted capital. Thereafter, the Adviser is entitled to receive 12.5 % of the Core Earnings. The performance fee may be paid, at the Adviser’s election, in cash or shares (in a series or multiple series of its choosing). </context> | us-gaap:ManagementAndServiceFeesIncentiveRate |
The Adviser may be entitled to a performance fee, which is accrued monthly and payable quarterly (or part thereof that the Advisory Agreement is in effect) in arrears. The performance fee will be equal to 12.5 % of Core Earnings (as defined in the Advisory Agreement) for the immediately preceding quarter, subject to a hurdle rate, expressed as a rate of return on average adjusted capital, equal to 1.25 % per quarter or 5.0 % on an annualized basis. Once Core Earnings in any quarter exceeds the hurdle rate, the Adviser is entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the hurdle rate, until Core Earnings for such quarter equals 1.429 %, or 5.714 % annually, of average adjusted capital. Thereafter, the Adviser is entitled to receive 12.5 % of the Core Earnings. The performance fee may be paid, at the Adviser’s election, in cash or shares (in a series or multiple series of its choosing). | text | 1.25 | percentItemType | text: <entity> 1.25 </entity> <entity type> percentItemType </entity type> <context> The Adviser may be entitled to a performance fee, which is accrued monthly and payable quarterly (or part thereof that the Advisory Agreement is in effect) in arrears. The performance fee will be equal to 12.5 % of Core Earnings (as defined in the Advisory Agreement) for the immediately preceding quarter, subject to a hurdle rate, expressed as a rate of return on average adjusted capital, equal to 1.25 % per quarter or 5.0 % on an annualized basis. Once Core Earnings in any quarter exceeds the hurdle rate, the Adviser is entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the hurdle rate, until Core Earnings for such quarter equals 1.429 %, or 5.714 % annually, of average adjusted capital. Thereafter, the Adviser is entitled to receive 12.5 % of the Core Earnings. The performance fee may be paid, at the Adviser’s election, in cash or shares (in a series or multiple series of its choosing). </context> | us-gaap:ManagementAndServiceFeesIncentiveRate |
The Adviser may be entitled to a performance fee, which is accrued monthly and payable quarterly (or part thereof that the Advisory Agreement is in effect) in arrears. The performance fee will be equal to 12.5 % of Core Earnings (as defined in the Advisory Agreement) for the immediately preceding quarter, subject to a hurdle rate, expressed as a rate of return on average adjusted capital, equal to 1.25 % per quarter or 5.0 % on an annualized basis. Once Core Earnings in any quarter exceeds the hurdle rate, the Adviser is entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the hurdle rate, until Core Earnings for such quarter equals 1.429 %, or 5.714 % annually, of average adjusted capital. Thereafter, the Adviser is entitled to receive 12.5 % of the Core Earnings. The performance fee may be paid, at the Adviser’s election, in cash or shares (in a series or multiple series of its choosing). | text | 5.0 | percentItemType | text: <entity> 5.0 </entity> <entity type> percentItemType </entity type> <context> The Adviser may be entitled to a performance fee, which is accrued monthly and payable quarterly (or part thereof that the Advisory Agreement is in effect) in arrears. The performance fee will be equal to 12.5 % of Core Earnings (as defined in the Advisory Agreement) for the immediately preceding quarter, subject to a hurdle rate, expressed as a rate of return on average adjusted capital, equal to 1.25 % per quarter or 5.0 % on an annualized basis. Once Core Earnings in any quarter exceeds the hurdle rate, the Adviser is entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the hurdle rate, until Core Earnings for such quarter equals 1.429 %, or 5.714 % annually, of average adjusted capital. Thereafter, the Adviser is entitled to receive 12.5 % of the Core Earnings. The performance fee may be paid, at the Adviser’s election, in cash or shares (in a series or multiple series of its choosing). </context> | us-gaap:ManagementAndServiceFeesIncentiveRate |
The Adviser may be entitled to a performance fee, which is accrued monthly and payable quarterly (or part thereof that the Advisory Agreement is in effect) in arrears. The performance fee will be equal to 12.5 % of Core Earnings (as defined in the Advisory Agreement) for the immediately preceding quarter, subject to a hurdle rate, expressed as a rate of return on average adjusted capital, equal to 1.25 % per quarter or 5.0 % on an annualized basis. Once Core Earnings in any quarter exceeds the hurdle rate, the Adviser is entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the hurdle rate, until Core Earnings for such quarter equals 1.429 %, or 5.714 % annually, of average adjusted capital. Thereafter, the Adviser is entitled to receive 12.5 % of the Core Earnings. The performance fee may be paid, at the Adviser’s election, in cash or shares (in a series or multiple series of its choosing). | text | 1.429 | percentItemType | text: <entity> 1.429 </entity> <entity type> percentItemType </entity type> <context> The Adviser may be entitled to a performance fee, which is accrued monthly and payable quarterly (or part thereof that the Advisory Agreement is in effect) in arrears. The performance fee will be equal to 12.5 % of Core Earnings (as defined in the Advisory Agreement) for the immediately preceding quarter, subject to a hurdle rate, expressed as a rate of return on average adjusted capital, equal to 1.25 % per quarter or 5.0 % on an annualized basis. Once Core Earnings in any quarter exceeds the hurdle rate, the Adviser is entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the hurdle rate, until Core Earnings for such quarter equals 1.429 %, or 5.714 % annually, of average adjusted capital. Thereafter, the Adviser is entitled to receive 12.5 % of the Core Earnings. The performance fee may be paid, at the Adviser’s election, in cash or shares (in a series or multiple series of its choosing). </context> | us-gaap:ManagementAndServiceFeesIncentiveRate |
The Adviser may be entitled to a performance fee, which is accrued monthly and payable quarterly (or part thereof that the Advisory Agreement is in effect) in arrears. The performance fee will be equal to 12.5 % of Core Earnings (as defined in the Advisory Agreement) for the immediately preceding quarter, subject to a hurdle rate, expressed as a rate of return on average adjusted capital, equal to 1.25 % per quarter or 5.0 % on an annualized basis. Once Core Earnings in any quarter exceeds the hurdle rate, the Adviser is entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the hurdle rate, until Core Earnings for such quarter equals 1.429 %, or 5.714 % annually, of average adjusted capital. Thereafter, the Adviser is entitled to receive 12.5 % of the Core Earnings. The performance fee may be paid, at the Adviser’s election, in cash or shares (in a series or multiple series of its choosing). | text | 5.714 | percentItemType | text: <entity> 5.714 </entity> <entity type> percentItemType </entity type> <context> The Adviser may be entitled to a performance fee, which is accrued monthly and payable quarterly (or part thereof that the Advisory Agreement is in effect) in arrears. The performance fee will be equal to 12.5 % of Core Earnings (as defined in the Advisory Agreement) for the immediately preceding quarter, subject to a hurdle rate, expressed as a rate of return on average adjusted capital, equal to 1.25 % per quarter or 5.0 % on an annualized basis. Once Core Earnings in any quarter exceeds the hurdle rate, the Adviser is entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the hurdle rate, until Core Earnings for such quarter equals 1.429 %, or 5.714 % annually, of average adjusted capital. Thereafter, the Adviser is entitled to receive 12.5 % of the Core Earnings. The performance fee may be paid, at the Adviser’s election, in cash or shares (in a series or multiple series of its choosing). </context> | us-gaap:ManagementAndServiceFeesIncentiveRate |
The Placement Agent is entitled to receive upfront selling commissions of up to 3.0 %, and upfront placement agent fees of 0.5 %, of the transaction price of each series T share sold in the Company’s primary offering; however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5 % of the transaction price. The Placement Agent is entitled to receive upfront selling commissions of up to 3.5 % of the transaction price of each series S share sold in the primary offering. The Placement Agent may be entitled to receive upfront selling commissions of up to 1.5 % of the transaction price of each series D share sold in the primary offering. No upfront selling commissions or placement fees are paid with respect to purchases of series I shares or shares of any series sold pursuant to the distribution reinvestment plan. The Placement Agent anticipates that all or a portion of the upfront selling commissions and placement fees will be retained by, or reallowed (paid) to, participating broker-dealers. | text | 3.0 | percentItemType | text: <entity> 3.0 </entity> <entity type> percentItemType </entity type> <context> The Placement Agent is entitled to receive upfront selling commissions of up to 3.0 %, and upfront placement agent fees of 0.5 %, of the transaction price of each series T share sold in the Company’s primary offering; however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5 % of the transaction price. The Placement Agent is entitled to receive upfront selling commissions of up to 3.5 % of the transaction price of each series S share sold in the primary offering. The Placement Agent may be entitled to receive upfront selling commissions of up to 1.5 % of the transaction price of each series D share sold in the primary offering. No upfront selling commissions or placement fees are paid with respect to purchases of series I shares or shares of any series sold pursuant to the distribution reinvestment plan. The Placement Agent anticipates that all or a portion of the upfront selling commissions and placement fees will be retained by, or reallowed (paid) to, participating broker-dealers. </context> | us-gaap:ManagementAndServiceFeesRate |
The Placement Agent is entitled to receive upfront selling commissions of up to 3.0 %, and upfront placement agent fees of 0.5 %, of the transaction price of each series T share sold in the Company’s primary offering; however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5 % of the transaction price. The Placement Agent is entitled to receive upfront selling commissions of up to 3.5 % of the transaction price of each series S share sold in the primary offering. The Placement Agent may be entitled to receive upfront selling commissions of up to 1.5 % of the transaction price of each series D share sold in the primary offering. No upfront selling commissions or placement fees are paid with respect to purchases of series I shares or shares of any series sold pursuant to the distribution reinvestment plan. The Placement Agent anticipates that all or a portion of the upfront selling commissions and placement fees will be retained by, or reallowed (paid) to, participating broker-dealers. | text | 0.5 | percentItemType | text: <entity> 0.5 </entity> <entity type> percentItemType </entity type> <context> The Placement Agent is entitled to receive upfront selling commissions of up to 3.0 %, and upfront placement agent fees of 0.5 %, of the transaction price of each series T share sold in the Company’s primary offering; however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5 % of the transaction price. The Placement Agent is entitled to receive upfront selling commissions of up to 3.5 % of the transaction price of each series S share sold in the primary offering. The Placement Agent may be entitled to receive upfront selling commissions of up to 1.5 % of the transaction price of each series D share sold in the primary offering. No upfront selling commissions or placement fees are paid with respect to purchases of series I shares or shares of any series sold pursuant to the distribution reinvestment plan. The Placement Agent anticipates that all or a portion of the upfront selling commissions and placement fees will be retained by, or reallowed (paid) to, participating broker-dealers. </context> | us-gaap:ManagementAndServiceFeesRate |
The Placement Agent is entitled to receive upfront selling commissions of up to 3.0 %, and upfront placement agent fees of 0.5 %, of the transaction price of each series T share sold in the Company’s primary offering; however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5 % of the transaction price. The Placement Agent is entitled to receive upfront selling commissions of up to 3.5 % of the transaction price of each series S share sold in the primary offering. The Placement Agent may be entitled to receive upfront selling commissions of up to 1.5 % of the transaction price of each series D share sold in the primary offering. No upfront selling commissions or placement fees are paid with respect to purchases of series I shares or shares of any series sold pursuant to the distribution reinvestment plan. The Placement Agent anticipates that all or a portion of the upfront selling commissions and placement fees will be retained by, or reallowed (paid) to, participating broker-dealers. | text | 3.5 | percentItemType | text: <entity> 3.5 </entity> <entity type> percentItemType </entity type> <context> The Placement Agent is entitled to receive upfront selling commissions of up to 3.0 %, and upfront placement agent fees of 0.5 %, of the transaction price of each series T share sold in the Company’s primary offering; however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5 % of the transaction price. The Placement Agent is entitled to receive upfront selling commissions of up to 3.5 % of the transaction price of each series S share sold in the primary offering. The Placement Agent may be entitled to receive upfront selling commissions of up to 1.5 % of the transaction price of each series D share sold in the primary offering. No upfront selling commissions or placement fees are paid with respect to purchases of series I shares or shares of any series sold pursuant to the distribution reinvestment plan. The Placement Agent anticipates that all or a portion of the upfront selling commissions and placement fees will be retained by, or reallowed (paid) to, participating broker-dealers. </context> | us-gaap:ManagementAndServiceFeesRate |
The Placement Agent is entitled to receive upfront selling commissions of up to 3.0 %, and upfront placement agent fees of 0.5 %, of the transaction price of each series T share sold in the Company’s primary offering; however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5 % of the transaction price. The Placement Agent is entitled to receive upfront selling commissions of up to 3.5 % of the transaction price of each series S share sold in the primary offering. The Placement Agent may be entitled to receive upfront selling commissions of up to 1.5 % of the transaction price of each series D share sold in the primary offering. No upfront selling commissions or placement fees are paid with respect to purchases of series I shares or shares of any series sold pursuant to the distribution reinvestment plan. The Placement Agent anticipates that all or a portion of the upfront selling commissions and placement fees will be retained by, or reallowed (paid) to, participating broker-dealers. | text | 1.5 | percentItemType | text: <entity> 1.5 </entity> <entity type> percentItemType </entity type> <context> The Placement Agent is entitled to receive upfront selling commissions of up to 3.0 %, and upfront placement agent fees of 0.5 %, of the transaction price of each series T share sold in the Company’s primary offering; however such amounts may vary at certain participating broker-dealers, provided that the sum will not exceed 3.5 % of the transaction price. The Placement Agent is entitled to receive upfront selling commissions of up to 3.5 % of the transaction price of each series S share sold in the primary offering. The Placement Agent may be entitled to receive upfront selling commissions of up to 1.5 % of the transaction price of each series D share sold in the primary offering. No upfront selling commissions or placement fees are paid with respect to purchases of series I shares or shares of any series sold pursuant to the distribution reinvestment plan. The Placement Agent anticipates that all or a portion of the upfront selling commissions and placement fees will be retained by, or reallowed (paid) to, participating broker-dealers. </context> | us-gaap:ManagementAndServiceFeesRate |
0.85 % per annum of the aggregate NAV of the Company’s outstanding series T shares, consisting of a representative distribution fee of 0.65 % per annum, and a dealer distribution fee of 0.20 % per annum. Series T shares sold through certain participating broker-dealers, the representative distribution fee and the dealer distribution fee may be other amounts, provided that the sum of such fees will always equal 0.85 % per annum of the NAV of such shares; | text | 0.85 | percentItemType | text: <entity> 0.85 </entity> <entity type> percentItemType </entity type> <context> 0.85 % per annum of the aggregate NAV of the Company’s outstanding series T shares, consisting of a representative distribution fee of 0.65 % per annum, and a dealer distribution fee of 0.20 % per annum. Series T shares sold through certain participating broker-dealers, the representative distribution fee and the dealer distribution fee may be other amounts, provided that the sum of such fees will always equal 0.85 % per annum of the NAV of such shares; </context> | us-gaap:ManagementAndServiceFeesRate |
0.85 % per annum of the aggregate NAV of the Company’s outstanding series T shares, consisting of a representative distribution fee of 0.65 % per annum, and a dealer distribution fee of 0.20 % per annum. Series T shares sold through certain participating broker-dealers, the representative distribution fee and the dealer distribution fee may be other amounts, provided that the sum of such fees will always equal 0.85 % per annum of the NAV of such shares; | text | 0.65 | percentItemType | text: <entity> 0.65 </entity> <entity type> percentItemType </entity type> <context> 0.85 % per annum of the aggregate NAV of the Company’s outstanding series T shares, consisting of a representative distribution fee of 0.65 % per annum, and a dealer distribution fee of 0.20 % per annum. Series T shares sold through certain participating broker-dealers, the representative distribution fee and the dealer distribution fee may be other amounts, provided that the sum of such fees will always equal 0.85 % per annum of the NAV of such shares; </context> | us-gaap:ManagementAndServiceFeesRate |
0.85 % per annum of the aggregate NAV of the Company’s outstanding series T shares, consisting of a representative distribution fee of 0.65 % per annum, and a dealer distribution fee of 0.20 % per annum. Series T shares sold through certain participating broker-dealers, the representative distribution fee and the dealer distribution fee may be other amounts, provided that the sum of such fees will always equal 0.85 % per annum of the NAV of such shares; | text | 0.20 | percentItemType | text: <entity> 0.20 </entity> <entity type> percentItemType </entity type> <context> 0.85 % per annum of the aggregate NAV of the Company’s outstanding series T shares, consisting of a representative distribution fee of 0.65 % per annum, and a dealer distribution fee of 0.20 % per annum. Series T shares sold through certain participating broker-dealers, the representative distribution fee and the dealer distribution fee may be other amounts, provided that the sum of such fees will always equal 0.85 % per annum of the NAV of such shares; </context> | us-gaap:ManagementAndServiceFeesRate |
0.85 % per annum of the aggregate NAV of the Company’s outstanding series S shares; and | text | 0.85 | percentItemType | text: <entity> 0.85 </entity> <entity type> percentItemType </entity type> <context> 0.85 % per annum of the aggregate NAV of the Company’s outstanding series S shares; and </context> | us-gaap:ManagementAndServiceFeesRate |
0.25 % per annum of the aggregate NAV of the Company’s outstanding series D shares. | text | 0.25 | percentItemType | text: <entity> 0.25 </entity> <entity type> percentItemType </entity type> <context> 0.25 % per annum of the aggregate NAV of the Company’s outstanding series D shares. </context> | us-gaap:ManagementAndServiceFeesRate |
The Company does not pay a distribution fee with respect to outstanding series I shares. | text | not | percentItemType | text: <entity> not </entity> <entity type> percentItemType </entity type> <context> The Company does not pay a distribution fee with respect to outstanding series I shares. </context> | us-gaap:ManagementAndServiceFeesRate |
In June 2024, the Company entered into a transfer agreement (“Transfer Agreement”) with Goldman Sachs & Co. LLC (in its capacity as transfer agent, the “Transfer Agent”), which also acts as the Company’s Adviser and as a Placement Agent, to act as the Company’s transfer agent. The Transfer Agent will earn, at an annual rate of, 0.05 % of average NAV at the end of the then-current quarter and the prior calendar quarter (and, in the case of the Company’s first quarter, NAV as of such quarter-end) for serving as the Company’s transfer agent. The Company will not reimburse the Transfer Agent for its own internal costs in providing transfer agency services to the Company. | text | 0.05 | percentItemType | text: <entity> 0.05 </entity> <entity type> percentItemType </entity type> <context> In June 2024, the Company entered into a transfer agreement (“Transfer Agreement”) with Goldman Sachs & Co. LLC (in its capacity as transfer agent, the “Transfer Agent”), which also acts as the Company’s Adviser and as a Placement Agent, to act as the Company’s transfer agent. The Transfer Agent will earn, at an annual rate of, 0.05 % of average NAV at the end of the then-current quarter and the prior calendar quarter (and, in the case of the Company’s first quarter, NAV as of such quarter-end) for serving as the Company’s transfer agent. The Company will not reimburse the Transfer Agent for its own internal costs in providing transfer agency services to the Company. </context> | us-gaap:ManagementAndServiceFeesRate |
Includes upfront selling commissions and placement fees of $ 283,698 . | text | 283698 | monetaryItemType | text: <entity> 283698 </entity> <entity type> monetaryItemType </entity type> <context> Includes upfront selling commissions and placement fees of $ 283,698 . </context> | us-gaap:PaymentsOfStockIssuanceCosts |
On January 6, 2025, in connection with the Goldman Sachs Investment, the Company issued an aggregate of 1.0 million of its shares of non-voting common stock to Goldman Sachs at a price per share of $ 25.00 for an aggregate purchase price of $ 25.0 million. | text | 1.0 | sharesItemType | text: <entity> 1.0 </entity> <entity type> sharesItemType </entity type> <context> On January 6, 2025, in connection with the Goldman Sachs Investment, the Company issued an aggregate of 1.0 million of its shares of non-voting common stock to Goldman Sachs at a price per share of $ 25.00 for an aggregate purchase price of $ 25.0 million. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
On January 6, 2025, in connection with the Goldman Sachs Investment, the Company issued an aggregate of 1.0 million of its shares of non-voting common stock to Goldman Sachs at a price per share of $ 25.00 for an aggregate purchase price of $ 25.0 million. | text | 25.00 | perShareItemType | text: <entity> 25.00 </entity> <entity type> perShareItemType </entity type> <context> On January 6, 2025, in connection with the Goldman Sachs Investment, the Company issued an aggregate of 1.0 million of its shares of non-voting common stock to Goldman Sachs at a price per share of $ 25.00 for an aggregate purchase price of $ 25.0 million. </context> | us-gaap:SaleOfStockPricePerShare |
On January 6, 2025, in connection with the Goldman Sachs Investment, the Company issued an aggregate of 1.0 million of its shares of non-voting common stock to Goldman Sachs at a price per share of $ 25.00 for an aggregate purchase price of $ 25.0 million. | text | 25.0 | monetaryItemType | text: <entity> 25.0 </entity> <entity type> monetaryItemType </entity type> <context> On January 6, 2025, in connection with the Goldman Sachs Investment, the Company issued an aggregate of 1.0 million of its shares of non-voting common stock to Goldman Sachs at a price per share of $ 25.00 for an aggregate purchase price of $ 25.0 million. </context> | us-gaap:SaleOfStockConsiderationReceivedOnTransaction |
Includes 20,652 shares issued under the distribution reinvestment plan for a total value of $ 0.5 million, which is excluded from Aggregate Consideration. | text | 20652 | sharesItemType | text: <entity> 20652 </entity> <entity type> sharesItemType </entity type> <context> Includes 20,652 shares issued under the distribution reinvestment plan for a total value of $ 0.5 million, which is excluded from Aggregate Consideration. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
Includes 20,652 shares issued under the distribution reinvestment plan for a total value of $ 0.5 million, which is excluded from Aggregate Consideration. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> Includes 20,652 shares issued under the distribution reinvestment plan for a total value of $ 0.5 million, which is excluded from Aggregate Consideration. </context> | us-gaap:SaleOfStockConsiderationReceivedOnTransaction |
Includes 5,123 shares issued under the distribution reinvestment plan for a total value of $ 0.1 million, which is excluded from Aggregate Consideration. | text | 5123 | sharesItemType | text: <entity> 5123 </entity> <entity type> sharesItemType </entity type> <context> Includes 5,123 shares issued under the distribution reinvestment plan for a total value of $ 0.1 million, which is excluded from Aggregate Consideration. </context> | us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction |
Includes 5,123 shares issued under the distribution reinvestment plan for a total value of $ 0.1 million, which is excluded from Aggregate Consideration. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> Includes 5,123 shares issued under the distribution reinvestment plan for a total value of $ 0.1 million, which is excluded from Aggregate Consideration. </context> | us-gaap:SaleOfStockConsiderationReceivedOnTransaction |
Includes upfront selling commissions and placement fees of $ 56,720 . | text | 56720 | monetaryItemType | text: <entity> 56720 </entity> <entity type> monetaryItemType </entity type> <context> Includes upfront selling commissions and placement fees of $ 56,720 . </context> | us-gaap:PaymentsOfStockIssuanceCosts |
In February 2025, the Company originated a $ 36.9 million floating rate, first mortgage loan collateralized by a multifamily property located in Leander, Texas. | text | 36.9 | monetaryItemType | text: <entity> 36.9 </entity> <entity type> monetaryItemType </entity type> <context> In February 2025, the Company originated a $ 36.9 million floating rate, first mortgage loan collateralized by a multifamily property located in Leander, Texas. </context> | us-gaap:DebtInstrumentFaceAmount |
On January 9, 2025, REFT Charles Street LLC (“Seller”), an indirect, wholly-owned subsidiary of the Company, entered into a Master Repurchase Agreement (together with the related transaction documents, the “Repurchase Agreement”), with Citibank, N.A. (“Citibank”), to finance the acquisition and origination by the Seller of eligible loans as more particularly described in the Repurchase Agreement. The Repurchase Agreement provides for asset purchases by Citibank of up to $ 250 million (the “Facility”). The initial borrowing of $ 62.7 million under the Repurchase Agreement has been used to finance certain loans receivable. | text | 250 | monetaryItemType | text: <entity> 250 </entity> <entity type> monetaryItemType </entity type> <context> On January 9, 2025, REFT Charles Street LLC (“Seller”), an indirect, wholly-owned subsidiary of the Company, entered into a Master Repurchase Agreement (together with the related transaction documents, the “Repurchase Agreement”), with Citibank, N.A. (“Citibank”), to finance the acquisition and origination by the Seller of eligible loans as more particularly described in the Repurchase Agreement. The Repurchase Agreement provides for asset purchases by Citibank of up to $ 250 million (the “Facility”). The initial borrowing of $ 62.7 million under the Repurchase Agreement has been used to finance certain loans receivable. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
On January 9, 2025, REFT Charles Street LLC (“Seller”), an indirect, wholly-owned subsidiary of the Company, entered into a Master Repurchase Agreement (together with the related transaction documents, the “Repurchase Agreement”), with Citibank, N.A. (“Citibank”), to finance the acquisition and origination by the Seller of eligible loans as more particularly described in the Repurchase Agreement. The Repurchase Agreement provides for asset purchases by Citibank of up to $ 250 million (the “Facility”). The initial borrowing of $ 62.7 million under the Repurchase Agreement has been used to finance certain loans receivable. | text | 62.7 | monetaryItemType | text: <entity> 62.7 </entity> <entity type> monetaryItemType </entity type> <context> On January 9, 2025, REFT Charles Street LLC (“Seller”), an indirect, wholly-owned subsidiary of the Company, entered into a Master Repurchase Agreement (together with the related transaction documents, the “Repurchase Agreement”), with Citibank, N.A. (“Citibank”), to finance the acquisition and origination by the Seller of eligible loans as more particularly described in the Repurchase Agreement. The Repurchase Agreement provides for asset purchases by Citibank of up to $ 250 million (the “Facility”). The initial borrowing of $ 62.7 million under the Repurchase Agreement has been used to finance certain loans receivable. </context> | us-gaap:LineOfCredit |
On January 27, 2025, the Company filed Articles of Amendment (the “Articles of Amendment”) to its Third Articles of Amendment and Restatement (the “Charter”) with the Maryland State Department of Assessments and Taxation (the “SDAT”) to increase the number of shares of capital stock that the Company has authority to issue to 2,120,000,000 and the number of shares of voting common stock, par value $ 0.01 per share, that the Company has authority to issue to 2,010,000,000 . Immediately following the filing of the Articles of Amendment, the Company filed with the SDAT Articles Supplementary (the “Articles Supplementary”) to the Charter, pursuant to which the Company classified and designated 5,000,000 authorized but unissued shares of Class F-I common stock and 5,000,000 authorized but unissued shares of Class F-II common stock. | text | 2120000000 | sharesItemType | text: <entity> 2120000000 </entity> <entity type> sharesItemType </entity type> <context> On January 27, 2025, the Company filed Articles of Amendment (the “Articles of Amendment”) to its Third Articles of Amendment and Restatement (the “Charter”) with the Maryland State Department of Assessments and Taxation (the “SDAT”) to increase the number of shares of capital stock that the Company has authority to issue to 2,120,000,000 and the number of shares of voting common stock, par value $ 0.01 per share, that the Company has authority to issue to 2,010,000,000 . Immediately following the filing of the Articles of Amendment, the Company filed with the SDAT Articles Supplementary (the “Articles Supplementary”) to the Charter, pursuant to which the Company classified and designated 5,000,000 authorized but unissued shares of Class F-I common stock and 5,000,000 authorized but unissued shares of Class F-II common stock. </context> | us-gaap:CapitalUnitsAuthorized |
On January 27, 2025, the Company filed Articles of Amendment (the “Articles of Amendment”) to its Third Articles of Amendment and Restatement (the “Charter”) with the Maryland State Department of Assessments and Taxation (the “SDAT”) to increase the number of shares of capital stock that the Company has authority to issue to 2,120,000,000 and the number of shares of voting common stock, par value $ 0.01 per share, that the Company has authority to issue to 2,010,000,000 . Immediately following the filing of the Articles of Amendment, the Company filed with the SDAT Articles Supplementary (the “Articles Supplementary”) to the Charter, pursuant to which the Company classified and designated 5,000,000 authorized but unissued shares of Class F-I common stock and 5,000,000 authorized but unissued shares of Class F-II common stock. | text | 0.01 | perShareItemType | text: <entity> 0.01 </entity> <entity type> perShareItemType </entity type> <context> On January 27, 2025, the Company filed Articles of Amendment (the “Articles of Amendment”) to its Third Articles of Amendment and Restatement (the “Charter”) with the Maryland State Department of Assessments and Taxation (the “SDAT”) to increase the number of shares of capital stock that the Company has authority to issue to 2,120,000,000 and the number of shares of voting common stock, par value $ 0.01 per share, that the Company has authority to issue to 2,010,000,000 . Immediately following the filing of the Articles of Amendment, the Company filed with the SDAT Articles Supplementary (the “Articles Supplementary”) to the Charter, pursuant to which the Company classified and designated 5,000,000 authorized but unissued shares of Class F-I common stock and 5,000,000 authorized but unissued shares of Class F-II common stock. </context> | us-gaap:CommonStockParOrStatedValuePerShare |
On January 27, 2025, the Company filed Articles of Amendment (the “Articles of Amendment”) to its Third Articles of Amendment and Restatement (the “Charter”) with the Maryland State Department of Assessments and Taxation (the “SDAT”) to increase the number of shares of capital stock that the Company has authority to issue to 2,120,000,000 and the number of shares of voting common stock, par value $ 0.01 per share, that the Company has authority to issue to 2,010,000,000 . Immediately following the filing of the Articles of Amendment, the Company filed with the SDAT Articles Supplementary (the “Articles Supplementary”) to the Charter, pursuant to which the Company classified and designated 5,000,000 authorized but unissued shares of Class F-I common stock and 5,000,000 authorized but unissued shares of Class F-II common stock. | text | 2010000000 | sharesItemType | text: <entity> 2010000000 </entity> <entity type> sharesItemType </entity type> <context> On January 27, 2025, the Company filed Articles of Amendment (the “Articles of Amendment”) to its Third Articles of Amendment and Restatement (the “Charter”) with the Maryland State Department of Assessments and Taxation (the “SDAT”) to increase the number of shares of capital stock that the Company has authority to issue to 2,120,000,000 and the number of shares of voting common stock, par value $ 0.01 per share, that the Company has authority to issue to 2,010,000,000 . Immediately following the filing of the Articles of Amendment, the Company filed with the SDAT Articles Supplementary (the “Articles Supplementary”) to the Charter, pursuant to which the Company classified and designated 5,000,000 authorized but unissued shares of Class F-I common stock and 5,000,000 authorized but unissued shares of Class F-II common stock. </context> | us-gaap:CommonStockSharesAuthorized |
On January 27, 2025, the Company filed Articles of Amendment (the “Articles of Amendment”) to its Third Articles of Amendment and Restatement (the “Charter”) with the Maryland State Department of Assessments and Taxation (the “SDAT”) to increase the number of shares of capital stock that the Company has authority to issue to 2,120,000,000 and the number of shares of voting common stock, par value $ 0.01 per share, that the Company has authority to issue to 2,010,000,000 . Immediately following the filing of the Articles of Amendment, the Company filed with the SDAT Articles Supplementary (the “Articles Supplementary”) to the Charter, pursuant to which the Company classified and designated 5,000,000 authorized but unissued shares of Class F-I common stock and 5,000,000 authorized but unissued shares of Class F-II common stock. | text | 5000000 | sharesItemType | text: <entity> 5000000 </entity> <entity type> sharesItemType </entity type> <context> On January 27, 2025, the Company filed Articles of Amendment (the “Articles of Amendment”) to its Third Articles of Amendment and Restatement (the “Charter”) with the Maryland State Department of Assessments and Taxation (the “SDAT”) to increase the number of shares of capital stock that the Company has authority to issue to 2,120,000,000 and the number of shares of voting common stock, par value $ 0.01 per share, that the Company has authority to issue to 2,010,000,000 . Immediately following the filing of the Articles of Amendment, the Company filed with the SDAT Articles Supplementary (the “Articles Supplementary”) to the Charter, pursuant to which the Company classified and designated 5,000,000 authorized but unissued shares of Class F-I common stock and 5,000,000 authorized but unissued shares of Class F-II common stock. </context> | us-gaap:CommonStockSharesAuthorized |
The Adviser has agreed to waive the management fee and the performance fee with respect to the Class F-I shares until the third anniversary of the date on which the Company has raised at least $ 50 million of gross offering proceeds from the issuance of Class F-I shares (the “Third Anniversary”) or, if a repurchase request was made before the Third Anniversary for all outstanding Class F-I shares under the Company’s share repurchase plan, until all such shares have been redeemed. | text | 50 | monetaryItemType | text: <entity> 50 </entity> <entity type> monetaryItemType </entity type> <context> The Adviser has agreed to waive the management fee and the performance fee with respect to the Class F-I shares until the third anniversary of the date on which the Company has raised at least $ 50 million of gross offering proceeds from the issuance of Class F-I shares (the “Third Anniversary”) or, if a repurchase request was made before the Third Anniversary for all outstanding Class F-I shares under the Company’s share repurchase plan, until all such shares have been redeemed. </context> | us-gaap:ProceedsFromIssuanceOfCommonStock |
. We receive cash earnest money deposits from our customers who enter into home sale contracts. In certain states we are restricted from using such deposits for general purposes, unless we take measures to release state imposed restrictions on such deposits received from homebuyers, which may include posting blanket surety bonds. We had $ 1.2 million and $ 4.1 million in restricted cash related to homebuyer deposits at December 31, 2024 and 2023, respectively. | text | 1.2 | monetaryItemType | text: <entity> 1.2 </entity> <entity type> monetaryItemType </entity type> <context> . We receive cash earnest money deposits from our customers who enter into home sale contracts. In certain states we are restricted from using such deposits for general purposes, unless we take measures to release state imposed restrictions on such deposits received from homebuyers, which may include posting blanket surety bonds. We had $ 1.2 million and $ 4.1 million in restricted cash related to homebuyer deposits at December 31, 2024 and 2023, respectively. </context> | us-gaap:EarnestMoneyDeposits |
. We receive cash earnest money deposits from our customers who enter into home sale contracts. In certain states we are restricted from using such deposits for general purposes, unless we take measures to release state imposed restrictions on such deposits received from homebuyers, which may include posting blanket surety bonds. We had $ 1.2 million and $ 4.1 million in restricted cash related to homebuyer deposits at December 31, 2024 and 2023, respectively. | text | 4.1 | monetaryItemType | text: <entity> 4.1 </entity> <entity type> monetaryItemType </entity type> <context> . We receive cash earnest money deposits from our customers who enter into home sale contracts. In certain states we are restricted from using such deposits for general purposes, unless we take measures to release state imposed restrictions on such deposits received from homebuyers, which may include posting blanket surety bonds. We had $ 1.2 million and $ 4.1 million in restricted cash related to homebuyer deposits at December 31, 2024 and 2023, respectively. </context> | us-gaap:EarnestMoneyDeposits |
from contracts with customers were $ 12.1 million and $ 73.9 million, respectively, and are included in trade and other receivables on the accompanying consolidated balance sheets. | text | 12.1 | monetaryItemType | text: <entity> 12.1 </entity> <entity type> monetaryItemType </entity type> <context> from contracts with customers were $ 12.1 million and $ 73.9 million, respectively, and are included in trade and other receivables on the accompanying consolidated balance sheets. </context> | us-gaap:ContractWithCustomerAssetNet |
from contracts with customers were $ 12.1 million and $ 73.9 million, respectively, and are included in trade and other receivables on the accompanying consolidated balance sheets. | text | 73.9 | monetaryItemType | text: <entity> 73.9 </entity> <entity type> monetaryItemType </entity type> <context> from contracts with customers were $ 12.1 million and $ 73.9 million, respectively, and are included in trade and other receivables on the accompanying consolidated balance sheets. </context> | us-gaap:ContractWithCustomerAssetNet |
. Property and equipment is carried at cost less accumulated depreciation. For property and equipment related to on-site sales facilities, depreciation is recorded using the units of production method as homes are delivered. For all other property and equipment, depreciation is recorded using a straight-line method over the estimated useful lives of the related assets, which range from 2 to 16 years. Depreciation and amortization expense for property and equipment was $ 30.9 million, $ 23.9 million and $ 26.4 million for the years ended December 31, 2024, 2023 and 2022, respectively, which is recorded in selling, general and administrative expenses in the homebuilding or expenses in the financial services sections of our consolidated statements of operations and comprehensive income. | text | 30.9 | monetaryItemType | text: <entity> 30.9 </entity> <entity type> monetaryItemType </entity type> <context> . Property and equipment is carried at cost less accumulated depreciation. For property and equipment related to on-site sales facilities, depreciation is recorded using the units of production method as homes are delivered. For all other property and equipment, depreciation is recorded using a straight-line method over the estimated useful lives of the related assets, which range from 2 to 16 years. Depreciation and amortization expense for property and equipment was $ 30.9 million, $ 23.9 million and $ 26.4 million for the years ended December 31, 2024, 2023 and 2022, respectively, which is recorded in selling, general and administrative expenses in the homebuilding or expenses in the financial services sections of our consolidated statements of operations and comprehensive income. </context> | us-gaap:DepreciationDepletionAndAmortization |
. Property and equipment is carried at cost less accumulated depreciation. For property and equipment related to on-site sales facilities, depreciation is recorded using the units of production method as homes are delivered. For all other property and equipment, depreciation is recorded using a straight-line method over the estimated useful lives of the related assets, which range from 2 to 16 years. Depreciation and amortization expense for property and equipment was $ 30.9 million, $ 23.9 million and $ 26.4 million for the years ended December 31, 2024, 2023 and 2022, respectively, which is recorded in selling, general and administrative expenses in the homebuilding or expenses in the financial services sections of our consolidated statements of operations and comprehensive income. | text | 23.9 | monetaryItemType | text: <entity> 23.9 </entity> <entity type> monetaryItemType </entity type> <context> . Property and equipment is carried at cost less accumulated depreciation. For property and equipment related to on-site sales facilities, depreciation is recorded using the units of production method as homes are delivered. For all other property and equipment, depreciation is recorded using a straight-line method over the estimated useful lives of the related assets, which range from 2 to 16 years. Depreciation and amortization expense for property and equipment was $ 30.9 million, $ 23.9 million and $ 26.4 million for the years ended December 31, 2024, 2023 and 2022, respectively, which is recorded in selling, general and administrative expenses in the homebuilding or expenses in the financial services sections of our consolidated statements of operations and comprehensive income. </context> | us-gaap:DepreciationDepletionAndAmortization |
. Property and equipment is carried at cost less accumulated depreciation. For property and equipment related to on-site sales facilities, depreciation is recorded using the units of production method as homes are delivered. For all other property and equipment, depreciation is recorded using a straight-line method over the estimated useful lives of the related assets, which range from 2 to 16 years. Depreciation and amortization expense for property and equipment was $ 30.9 million, $ 23.9 million and $ 26.4 million for the years ended December 31, 2024, 2023 and 2022, respectively, which is recorded in selling, general and administrative expenses in the homebuilding or expenses in the financial services sections of our consolidated statements of operations and comprehensive income. | text | 26.4 | monetaryItemType | text: <entity> 26.4 </entity> <entity type> monetaryItemType </entity type> <context> . Property and equipment is carried at cost less accumulated depreciation. For property and equipment related to on-site sales facilities, depreciation is recorded using the units of production method as homes are delivered. For all other property and equipment, depreciation is recorded using a straight-line method over the estimated useful lives of the related assets, which range from 2 to 16 years. Depreciation and amortization expense for property and equipment was $ 30.9 million, $ 23.9 million and $ 26.4 million for the years ended December 31, 2024, 2023 and 2022, respectively, which is recorded in selling, general and administrative expenses in the homebuilding or expenses in the financial services sections of our consolidated statements of operations and comprehensive income. </context> | us-gaap:DepreciationDepletionAndAmortization |
Our financial services business consists of the following operating segments: (1) HomeAmerican; (2) Allegiant; (3) StarAmerican; (4) American Home Insurance; and (5) American Home Title. Due to its contributions to consolidated pretax income we consider HomeAmerican to be a reportable segment (“mortgage operations”). The remaining operating segments have been aggregated into one reportable segment (“other”) because they do not individually exceed 10 percent of (1) consolidated revenue; (2) the greater of (a) combined reported profit of all operating segments that did not report a loss or (b) the positive value of the combined reported loss of all operating segments that reported losses; or (3) consolidated assets. | text | one | integerItemType | text: <entity> one </entity> <entity type> integerItemType </entity type> <context> Our financial services business consists of the following operating segments: (1) HomeAmerican; (2) Allegiant; (3) StarAmerican; (4) American Home Insurance; and (5) American Home Title. Due to its contributions to consolidated pretax income we consider HomeAmerican to be a reportable segment (“mortgage operations”). The remaining operating segments have been aggregated into one reportable segment (“other”) because they do not individually exceed 10 percent of (1) consolidated revenue; (2) the greater of (a) combined reported profit of all operating segments that did not report a loss or (b) the positive value of the combined reported loss of all operating segments that reported losses; or (3) consolidated assets. </context> | us-gaap:NumberOfReportableSegments |
Diluted EPS for the years ended December 31, 2023 and 2022 excluded options to purchase approximately 15,000 and 1,861,534 shares, respectively, of common stock because the effect of their inclusion would be anti-dilutive. Upon completion | text | 15000 | sharesItemType | text: <entity> 15000 </entity> <entity type> sharesItemType </entity type> <context> Diluted EPS for the years ended December 31, 2023 and 2022 excluded options to purchase approximately 15,000 and 1,861,534 shares, respectively, of common stock because the effect of their inclusion would be anti-dilutive. Upon completion </context> | us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
Diluted EPS for the years ended December 31, 2023 and 2022 excluded options to purchase approximately 15,000 and 1,861,534 shares, respectively, of common stock because the effect of their inclusion would be anti-dilutive. Upon completion | text | 1861534 | sharesItemType | text: <entity> 1861534 </entity> <entity type> sharesItemType </entity type> <context> Diluted EPS for the years ended December 31, 2023 and 2022 excluded options to purchase approximately 15,000 and 1,861,534 shares, respectively, of common stock because the effect of their inclusion would be anti-dilutive. Upon completion </context> | us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
Our mortgage loans held-for-sale, which are measured at fair value on a recurring basis include (1) mortgage loans held-for-sale that are under commitments to sell and (2) mortgage loans held-for-sale that were not under commitments to sell. At December 31, 2024 and 2023, we had $ 95.6 million and $ 105.1 million, respectively, in fair value of mortgage loans held-for-sale that were under commitments to sell. The fair value for those loans was based on quoted market prices for those mortgage loans, which are Level 2 fair value inputs. At December 31, 2024 and 2023, we had $ 141.2 million and $ 153.1 million, respectively, in fair value of mortgage loans held-for-sale that were not under commitments to sell. | text | 95.6 | monetaryItemType | text: <entity> 95.6 </entity> <entity type> monetaryItemType </entity type> <context> Our mortgage loans held-for-sale, which are measured at fair value on a recurring basis include (1) mortgage loans held-for-sale that are under commitments to sell and (2) mortgage loans held-for-sale that were not under commitments to sell. At December 31, 2024 and 2023, we had $ 95.6 million and $ 105.1 million, respectively, in fair value of mortgage loans held-for-sale that were under commitments to sell. The fair value for those loans was based on quoted market prices for those mortgage loans, which are Level 2 fair value inputs. At December 31, 2024 and 2023, we had $ 141.2 million and $ 153.1 million, respectively, in fair value of mortgage loans held-for-sale that were not under commitments to sell. </context> | us-gaap:LoansReceivableHeldForSaleNetNotPartOfDisposalGroup |
Our mortgage loans held-for-sale, which are measured at fair value on a recurring basis include (1) mortgage loans held-for-sale that are under commitments to sell and (2) mortgage loans held-for-sale that were not under commitments to sell. At December 31, 2024 and 2023, we had $ 95.6 million and $ 105.1 million, respectively, in fair value of mortgage loans held-for-sale that were under commitments to sell. The fair value for those loans was based on quoted market prices for those mortgage loans, which are Level 2 fair value inputs. At December 31, 2024 and 2023, we had $ 141.2 million and $ 153.1 million, respectively, in fair value of mortgage loans held-for-sale that were not under commitments to sell. | text | 105.1 | monetaryItemType | text: <entity> 105.1 </entity> <entity type> monetaryItemType </entity type> <context> Our mortgage loans held-for-sale, which are measured at fair value on a recurring basis include (1) mortgage loans held-for-sale that are under commitments to sell and (2) mortgage loans held-for-sale that were not under commitments to sell. At December 31, 2024 and 2023, we had $ 95.6 million and $ 105.1 million, respectively, in fair value of mortgage loans held-for-sale that were under commitments to sell. The fair value for those loans was based on quoted market prices for those mortgage loans, which are Level 2 fair value inputs. At December 31, 2024 and 2023, we had $ 141.2 million and $ 153.1 million, respectively, in fair value of mortgage loans held-for-sale that were not under commitments to sell. </context> | us-gaap:LoansReceivableHeldForSaleNetNotPartOfDisposalGroup |
Our mortgage loans held-for-sale, which are measured at fair value on a recurring basis include (1) mortgage loans held-for-sale that are under commitments to sell and (2) mortgage loans held-for-sale that were not under commitments to sell. At December 31, 2024 and 2023, we had $ 95.6 million and $ 105.1 million, respectively, in fair value of mortgage loans held-for-sale that were under commitments to sell. The fair value for those loans was based on quoted market prices for those mortgage loans, which are Level 2 fair value inputs. At December 31, 2024 and 2023, we had $ 141.2 million and $ 153.1 million, respectively, in fair value of mortgage loans held-for-sale that were not under commitments to sell. | text | 141.2 | monetaryItemType | text: <entity> 141.2 </entity> <entity type> monetaryItemType </entity type> <context> Our mortgage loans held-for-sale, which are measured at fair value on a recurring basis include (1) mortgage loans held-for-sale that are under commitments to sell and (2) mortgage loans held-for-sale that were not under commitments to sell. At December 31, 2024 and 2023, we had $ 95.6 million and $ 105.1 million, respectively, in fair value of mortgage loans held-for-sale that were under commitments to sell. The fair value for those loans was based on quoted market prices for those mortgage loans, which are Level 2 fair value inputs. At December 31, 2024 and 2023, we had $ 141.2 million and $ 153.1 million, respectively, in fair value of mortgage loans held-for-sale that were not under commitments to sell. </context> | us-gaap:LoansReceivableHeldForSaleNetNotPartOfDisposalGroup |
Our mortgage loans held-for-sale, which are measured at fair value on a recurring basis include (1) mortgage loans held-for-sale that are under commitments to sell and (2) mortgage loans held-for-sale that were not under commitments to sell. At December 31, 2024 and 2023, we had $ 95.6 million and $ 105.1 million, respectively, in fair value of mortgage loans held-for-sale that were under commitments to sell. The fair value for those loans was based on quoted market prices for those mortgage loans, which are Level 2 fair value inputs. At December 31, 2024 and 2023, we had $ 141.2 million and $ 153.1 million, respectively, in fair value of mortgage loans held-for-sale that were not under commitments to sell. | text | 153.1 | monetaryItemType | text: <entity> 153.1 </entity> <entity type> monetaryItemType </entity type> <context> Our mortgage loans held-for-sale, which are measured at fair value on a recurring basis include (1) mortgage loans held-for-sale that are under commitments to sell and (2) mortgage loans held-for-sale that were not under commitments to sell. At December 31, 2024 and 2023, we had $ 95.6 million and $ 105.1 million, respectively, in fair value of mortgage loans held-for-sale that were under commitments to sell. The fair value for those loans was based on quoted market prices for those mortgage loans, which are Level 2 fair value inputs. At December 31, 2024 and 2023, we had $ 141.2 million and $ 153.1 million, respectively, in fair value of mortgage loans held-for-sale that were not under commitments to sell. </context> | us-gaap:LoansReceivableHeldForSaleNetNotPartOfDisposalGroup |
Gains (losses) on sales of mortgage loans, net, are included as a component of revenues in the financial services section of our consolidated statements of operations and comprehensive income. For twelve months ended December 31, 2024, 2023, and 2022, we recorded gain (loss) on mortgage loans held-for-sale, net of $( 13.6 ) million, $( 0.8 ) million, and $( 18.0 ) million, respectively. | text | 13.6 | monetaryItemType | text: <entity> 13.6 </entity> <entity type> monetaryItemType </entity type> <context> Gains (losses) on sales of mortgage loans, net, are included as a component of revenues in the financial services section of our consolidated statements of operations and comprehensive income. For twelve months ended December 31, 2024, 2023, and 2022, we recorded gain (loss) on mortgage loans held-for-sale, net of $( 13.6 ) million, $( 0.8 ) million, and $( 18.0 ) million, respectively. </context> | us-gaap:GainLossOnSaleOfMortgageLoans |
Gains (losses) on sales of mortgage loans, net, are included as a component of revenues in the financial services section of our consolidated statements of operations and comprehensive income. For twelve months ended December 31, 2024, 2023, and 2022, we recorded gain (loss) on mortgage loans held-for-sale, net of $( 13.6 ) million, $( 0.8 ) million, and $( 18.0 ) million, respectively. | text | 0.8 | monetaryItemType | text: <entity> 0.8 </entity> <entity type> monetaryItemType </entity type> <context> Gains (losses) on sales of mortgage loans, net, are included as a component of revenues in the financial services section of our consolidated statements of operations and comprehensive income. For twelve months ended December 31, 2024, 2023, and 2022, we recorded gain (loss) on mortgage loans held-for-sale, net of $( 13.6 ) million, $( 0.8 ) million, and $( 18.0 ) million, respectively. </context> | us-gaap:GainLossOnSaleOfMortgageLoans |
Gains (losses) on sales of mortgage loans, net, are included as a component of revenues in the financial services section of our consolidated statements of operations and comprehensive income. For twelve months ended December 31, 2024, 2023, and 2022, we recorded gain (loss) on mortgage loans held-for-sale, net of $( 13.6 ) million, $( 0.8 ) million, and $( 18.0 ) million, respectively. | text | 18.0 | monetaryItemType | text: <entity> 18.0 </entity> <entity type> monetaryItemType </entity type> <context> Gains (losses) on sales of mortgage loans, net, are included as a component of revenues in the financial services section of our consolidated statements of operations and comprehensive income. For twelve months ended December 31, 2024, 2023, and 2022, we recorded gain (loss) on mortgage loans held-for-sale, net of $( 13.6 ) million, $( 0.8 ) million, and $( 18.0 ) million, respectively. </context> | us-gaap:GainLossOnSaleOfMortgageLoans |
Homebuilding and financial services operating lease liabilities of $ 16.9 million and $ 0.1 million, respectively, are included as a component of accrued and other liabilities and accounts payable and accrued liabilities , respectively, in the homebuilding and financial services section of our consolidated balance sheets at December 31, 2024. | text | 16.9 | monetaryItemType | text: <entity> 16.9 </entity> <entity type> monetaryItemType </entity type> <context> Homebuilding and financial services operating lease liabilities of $ 16.9 million and $ 0.1 million, respectively, are included as a component of accrued and other liabilities and accounts payable and accrued liabilities , respectively, in the homebuilding and financial services section of our consolidated balance sheets at December 31, 2024. </context> | us-gaap:OperatingLeaseLiability |
Homebuilding and financial services operating lease liabilities of $ 16.9 million and $ 0.1 million, respectively, are included as a component of accrued and other liabilities and accounts payable and accrued liabilities , respectively, in the homebuilding and financial services section of our consolidated balance sheets at December 31, 2024. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> Homebuilding and financial services operating lease liabilities of $ 16.9 million and $ 0.1 million, respectively, are included as a component of accrued and other liabilities and accounts payable and accrued liabilities , respectively, in the homebuilding and financial services section of our consolidated balance sheets at December 31, 2024. </context> | us-gaap:OperatingLeaseLiability |
The table set forth below summarizes accrual, adjustment and payment activity related to our warranty accrual for the years ended December 31, 2024, 2023 and 2022. The warranty accrual increased due to $ 6.3 million of warranty adjustments during the year ended December 31, 2024. This adjustment was due to higher general warranty related expenditures. From time to time, we change our warranty accrual rates based on payment trends. Any changes made to those rates did not materially affect our warranty expense or gross margin from home sales for the years ended December 31, 2024, 2023 and 2022. | text | 6.3 | monetaryItemType | text: <entity> 6.3 </entity> <entity type> monetaryItemType </entity type> <context> The table set forth below summarizes accrual, adjustment and payment activity related to our warranty accrual for the years ended December 31, 2024, 2023 and 2022. The warranty accrual increased due to $ 6.3 million of warranty adjustments during the year ended December 31, 2024. This adjustment was due to higher general warranty related expenditures. From time to time, we change our warranty accrual rates based on payment trends. Any changes made to those rates did not materially affect our warranty expense or gross margin from home sales for the years ended December 31, 2024, 2023 and 2022. </context> | us-gaap:ProductWarrantyAccrualPreexistingIncreaseDecrease |
At December 31, 2024, we had no federal net operating loss or alternative minimum tax carryforwards. However, we had $ 4.0 million in tax-effected state net operating loss carryforwards. The state operating loss carryforwards, if unused, begin expiring in 2028. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, we had no federal net operating loss or alternative minimum tax carryforwards. However, we had $ 4.0 million in tax-effected state net operating loss carryforwards. The state operating loss carryforwards, if unused, begin expiring in 2028. </context> | us-gaap:OperatingLossCarryforwards |
At December 31, 2024, we had no federal net operating loss or alternative minimum tax carryforwards. However, we had $ 4.0 million in tax-effected state net operating loss carryforwards. The state operating loss carryforwards, if unused, begin expiring in 2028. | text | 4.0 | monetaryItemType | text: <entity> 4.0 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, we had no federal net operating loss or alternative minimum tax carryforwards. However, we had $ 4.0 million in tax-effected state net operating loss carryforwards. The state operating loss carryforwards, if unused, begin expiring in 2028. </context> | us-gaap:OperatingLossCarryforwards |
At December 31, 2024, we had a valuation allowance of $ 4.0 million, an increase of $ 0.2 million from the prior year. The valuation allowance is related to various state net operating loss carryforwards where realization is uncertain at this time due to the limited carryforward periods coupled with minimal activity that exists in certain states. | text | 4.0 | monetaryItemType | text: <entity> 4.0 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, we had a valuation allowance of $ 4.0 million, an increase of $ 0.2 million from the prior year. The valuation allowance is related to various state net operating loss carryforwards where realization is uncertain at this time due to the limited carryforward periods coupled with minimal activity that exists in certain states. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
At December 31, 2024, we had a valuation allowance of $ 4.0 million, an increase of $ 0.2 million from the prior year. The valuation allowance is related to various state net operating loss carryforwards where realization is uncertain at this time due to the limited carryforward periods coupled with minimal activity that exists in certain states. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, we had a valuation allowance of $ 4.0 million, an increase of $ 0.2 million from the prior year. The valuation allowance is related to various state net operating loss carryforwards where realization is uncertain at this time due to the limited carryforward periods coupled with minimal activity that exists in certain states. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
At December 31, 2024 and 2023, our total liability for uncertain tax positions including interest and penalties was $ 25.0 million and $ 0.4 million, respectively. The following table summarizes activity for the gross unrecognized tax benefit component of our total liability for uncertain tax positions for the years ended December 31, 2024, 2023 and 2022: | text | 25.0 | monetaryItemType | text: <entity> 25.0 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, our total liability for uncertain tax positions including interest and penalties was $ 25.0 million and $ 0.4 million, respectively. The following table summarizes activity for the gross unrecognized tax benefit component of our total liability for uncertain tax positions for the years ended December 31, 2024, 2023 and 2022: </context> | us-gaap:LiabilityForUncertainTaxPositionsCurrent |
At December 31, 2024 and 2023, our total liability for uncertain tax positions including interest and penalties was $ 25.0 million and $ 0.4 million, respectively. The following table summarizes activity for the gross unrecognized tax benefit component of our total liability for uncertain tax positions for the years ended December 31, 2024, 2023 and 2022: | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, our total liability for uncertain tax positions including interest and penalties was $ 25.0 million and $ 0.4 million, respectively. The following table summarizes activity for the gross unrecognized tax benefit component of our total liability for uncertain tax positions for the years ended December 31, 2024, 2023 and 2022: </context> | us-gaap:LiabilityForUncertainTaxPositionsCurrent |
During the year ended December 31, 2024, we experienced an increase of $ 24.7 million in the uncertain tax positions for tax reserves related to the Merger and state tax filings. | text | 24.7 | monetaryItemType | text: <entity> 24.7 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2024, we experienced an increase of $ 24.7 million in the uncertain tax positions for tax reserves related to the Merger and state tax filings. </context> | us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions |
At December 31, 2024 and 2023, there was $ 25.0 million and $ 0.4 million, respectively, of unrecognized tax benefits that if recognized, would reduce our effective tax rate. | text | 25.0 | monetaryItemType | text: <entity> 25.0 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, there was $ 25.0 million and $ 0.4 million, respectively, of unrecognized tax benefits that if recognized, would reduce our effective tax rate. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
At December 31, 2024 and 2023, there was $ 25.0 million and $ 0.4 million, respectively, of unrecognized tax benefits that if recognized, would reduce our effective tax rate. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, there was $ 25.0 million and $ 0.4 million, respectively, of unrecognized tax benefits that if recognized, would reduce our effective tax rate. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
The interest and penalties, net of federal benefit for the years ended December 31, 2024, 2023 and 2022 was $( 0.1 ) million, $( 0.1 ) million and $( 0.1 ) million, respectively, and are included in provision for income taxes in the consolidated statements of operations and comprehensive income. We are not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> The interest and penalties, net of federal benefit for the years ended December 31, 2024, 2023 and 2022 was $( 0.1 ) million, $( 0.1 ) million and $( 0.1 ) million, respectively, and are included in provision for income taxes in the consolidated statements of operations and comprehensive income. We are not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months. </context> | us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense |
SH Residential Holdings, LLC and affiliates are considered a related party for the period subsequent to the Merger closing on April 19, 2024. As of December 31, 2024, the Company had accounts receivable due from Parent of $ 22.2 million related to payments in connection with the Merger funded by the Company that are included within Accounts receivable due from Parent in the Consolidated Balance Sheets. | text | 22.2 | monetaryItemType | text: <entity> 22.2 </entity> <entity type> monetaryItemType </entity type> <context> SH Residential Holdings, LLC and affiliates are considered a related party for the period subsequent to the Merger closing on April 19, 2024. As of December 31, 2024, the Company had accounts receivable due from Parent of $ 22.2 million related to payments in connection with the Merger funded by the Company that are included within Accounts receivable due from Parent in the Consolidated Balance Sheets. </context> | us-gaap:OtherReceivables |
Further, the Company purchased $ 81.9 million of land from affiliates of SH Residential Holdings, LLC included in Total inventories in the Consolidated Balance Sheet as of December 31, 2024. | text | 81.9 | monetaryItemType | text: <entity> 81.9 </entity> <entity type> monetaryItemType </entity type> <context> Further, the Company purchased $ 81.9 million of land from affiliates of SH Residential Holdings, LLC included in Total inventories in the Consolidated Balance Sheet as of December 31, 2024. </context> | us-gaap:InventoryRealEstateLandAndLandDevelopmentCosts |
On November 19, 2024 the Company entered into an unsecured revolving credit agreement (“Revolving Credit Facility”) with a group of lenders, which may be used for general corporate purposes. The Revolving Credit Facility supersedes and replaces the Credit Agreement, dated as of December 13, 2013 and as amended as of December 17, 2014, December 18, 2015, September 29, 2017, November 1, 2018, December 28, 2020 and, April 11, 2023 and March 20, 2024. The aggregate commitment within the agreement is up to $ 900.0 million (the "Commitment"), with a $ 195.0 million sublimit for letters of credit. The aggregate amount of the commitments may increase to an amount not to exceed $ 1.40 billion upon our request, subject to receipt of additional commitments from existing or additional lenders and, in the case of additional lenders, the consent of the co-administrative agents. Unless terminated earlier, the Revolving Credit Facility will mature on November 17, 2028. | text | 900.0 | monetaryItemType | text: <entity> 900.0 </entity> <entity type> monetaryItemType </entity type> <context> On November 19, 2024 the Company entered into an unsecured revolving credit agreement (“Revolving Credit Facility”) with a group of lenders, which may be used for general corporate purposes. The Revolving Credit Facility supersedes and replaces the Credit Agreement, dated as of December 13, 2013 and as amended as of December 17, 2014, December 18, 2015, September 29, 2017, November 1, 2018, December 28, 2020 and, April 11, 2023 and March 20, 2024. The aggregate commitment within the agreement is up to $ 900.0 million (the "Commitment"), with a $ 195.0 million sublimit for letters of credit. The aggregate amount of the commitments may increase to an amount not to exceed $ 1.40 billion upon our request, subject to receipt of additional commitments from existing or additional lenders and, in the case of additional lenders, the consent of the co-administrative agents. Unless terminated earlier, the Revolving Credit Facility will mature on November 17, 2028. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
On November 19, 2024 the Company entered into an unsecured revolving credit agreement (“Revolving Credit Facility”) with a group of lenders, which may be used for general corporate purposes. The Revolving Credit Facility supersedes and replaces the Credit Agreement, dated as of December 13, 2013 and as amended as of December 17, 2014, December 18, 2015, September 29, 2017, November 1, 2018, December 28, 2020 and, April 11, 2023 and March 20, 2024. The aggregate commitment within the agreement is up to $ 900.0 million (the "Commitment"), with a $ 195.0 million sublimit for letters of credit. The aggregate amount of the commitments may increase to an amount not to exceed $ 1.40 billion upon our request, subject to receipt of additional commitments from existing or additional lenders and, in the case of additional lenders, the consent of the co-administrative agents. Unless terminated earlier, the Revolving Credit Facility will mature on November 17, 2028. | text | 195.0 | monetaryItemType | text: <entity> 195.0 </entity> <entity type> monetaryItemType </entity type> <context> On November 19, 2024 the Company entered into an unsecured revolving credit agreement (“Revolving Credit Facility”) with a group of lenders, which may be used for general corporate purposes. The Revolving Credit Facility supersedes and replaces the Credit Agreement, dated as of December 13, 2013 and as amended as of December 17, 2014, December 18, 2015, September 29, 2017, November 1, 2018, December 28, 2020 and, April 11, 2023 and March 20, 2024. The aggregate commitment within the agreement is up to $ 900.0 million (the "Commitment"), with a $ 195.0 million sublimit for letters of credit. The aggregate amount of the commitments may increase to an amount not to exceed $ 1.40 billion upon our request, subject to receipt of additional commitments from existing or additional lenders and, in the case of additional lenders, the consent of the co-administrative agents. Unless terminated earlier, the Revolving Credit Facility will mature on November 17, 2028. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. | text | 1.125 | percentItemType | text: <entity> 1.125 </entity> <entity type> percentItemType </entity type> <context> Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. | text | 1.625 | percentItemType | text: <entity> 1.625 </entity> <entity type> percentItemType </entity type> <context> Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. | text | 0.125 | percentItemType | text: <entity> 0.125 </entity> <entity type> percentItemType </entity type> <context> Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. | text | 0.625 | percentItemType | text: <entity> 0.625 </entity> <entity type> percentItemType </entity type> <context> Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. | text | 0.15 | percentItemType | text: <entity> 0.15 </entity> <entity type> percentItemType </entity type> <context> Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. </context> | us-gaap:LineOfCreditFacilityCommitmentFeePercentage |
Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. | text | 0.30 | percentItemType | text: <entity> 0.30 </entity> <entity type> percentItemType </entity type> <context> Borrowings under the Revolving Credit Facility bear interest at a floating rate equal to Term SOFR or Daily Simple SOFR (in each case as defined in the Revolving Credit Facility), plus an applicable margin between 1.125 % and 1.625 % per annum, or if selected by the Company, a base rate plus an applicable margin between 0.125 % and 0.625 % per annum. The “applicable margins” described above are determined by a schedule based on the leverage ratio of the Company, as defined in the Revolving Credit Facility. The Revolving Credit Facility also provides for customary fees including commitment fees payable to each lender ranging from 0.15 % to 0.30 % per annum based on the Company’s leverage ratio. </context> | us-gaap:LineOfCreditFacilityCommitmentFeePercentage |
We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2024 and 2023, there were $ 43.6 million and $ 40.8 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We had $ 0.0 million and $ 10.0 million outstanding under the Revolving Credit Facility as of December 31, 2024 and 2023, respectively. As of December 31, 2024, availability under the Revolving Credit Facility was approximately $ 856.4 million. | text | 43.6 | monetaryItemType | text: <entity> 43.6 </entity> <entity type> monetaryItemType </entity type> <context> We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2024 and 2023, there were $ 43.6 million and $ 40.8 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We had $ 0.0 million and $ 10.0 million outstanding under the Revolving Credit Facility as of December 31, 2024 and 2023, respectively. As of December 31, 2024, availability under the Revolving Credit Facility was approximately $ 856.4 million. </context> | us-gaap:LettersOfCreditOutstandingAmount |
We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2024 and 2023, there were $ 43.6 million and $ 40.8 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We had $ 0.0 million and $ 10.0 million outstanding under the Revolving Credit Facility as of December 31, 2024 and 2023, respectively. As of December 31, 2024, availability under the Revolving Credit Facility was approximately $ 856.4 million. | text | 40.8 | monetaryItemType | text: <entity> 40.8 </entity> <entity type> monetaryItemType </entity type> <context> We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2024 and 2023, there were $ 43.6 million and $ 40.8 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We had $ 0.0 million and $ 10.0 million outstanding under the Revolving Credit Facility as of December 31, 2024 and 2023, respectively. As of December 31, 2024, availability under the Revolving Credit Facility was approximately $ 856.4 million. </context> | us-gaap:LettersOfCreditOutstandingAmount |
We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2024 and 2023, there were $ 43.6 million and $ 40.8 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We had $ 0.0 million and $ 10.0 million outstanding under the Revolving Credit Facility as of December 31, 2024 and 2023, respectively. As of December 31, 2024, availability under the Revolving Credit Facility was approximately $ 856.4 million. | text | 0.0 million | monetaryItemType | text: <entity> 0.0 million </entity> <entity type> monetaryItemType </entity type> <context> We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2024 and 2023, there were $ 43.6 million and $ 40.8 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We had $ 0.0 million and $ 10.0 million outstanding under the Revolving Credit Facility as of December 31, 2024 and 2023, respectively. As of December 31, 2024, availability under the Revolving Credit Facility was approximately $ 856.4 million. </context> | us-gaap:LineOfCredit |
We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2024 and 2023, there were $ 43.6 million and $ 40.8 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We had $ 0.0 million and $ 10.0 million outstanding under the Revolving Credit Facility as of December 31, 2024 and 2023, respectively. As of December 31, 2024, availability under the Revolving Credit Facility was approximately $ 856.4 million. | text | 10.0 | monetaryItemType | text: <entity> 10.0 </entity> <entity type> monetaryItemType </entity type> <context> We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2024 and 2023, there were $ 43.6 million and $ 40.8 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We had $ 0.0 million and $ 10.0 million outstanding under the Revolving Credit Facility as of December 31, 2024 and 2023, respectively. As of December 31, 2024, availability under the Revolving Credit Facility was approximately $ 856.4 million. </context> | us-gaap:LineOfCredit |
We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2024 and 2023, there were $ 43.6 million and $ 40.8 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We had $ 0.0 million and $ 10.0 million outstanding under the Revolving Credit Facility as of December 31, 2024 and 2023, respectively. As of December 31, 2024, availability under the Revolving Credit Facility was approximately $ 856.4 million. | text | 856.4 | monetaryItemType | text: <entity> 856.4 </entity> <entity type> monetaryItemType </entity type> <context> We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2024 and 2023, there were $ 43.6 million and $ 40.8 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We had $ 0.0 million and $ 10.0 million outstanding under the Revolving Credit Facility as of December 31, 2024 and 2023, respectively. As of December 31, 2024, availability under the Revolving Credit Facility was approximately $ 856.4 million. </context> | us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity |
Mortgage Repurchase Facility. HomeAmerican entered into the Second Amended and Restated Master Repurchase Agreement (the “Mortgage Repurchase Facility”) with U.S. Bank National Association (“USBNA”) on September 20, 2024. The Mortgage Repurchase Facility provides liquidity to HomeAmerican by providing for the sale of up to an aggregate of $ 150 million (subject to increase by up to $ 150 million under certain conditions) of eligible mortgage loans to USBNA with an agreement by HomeAmerican to repurchase the mortgage loans at a future date. Until such mortgage loans are transferred back to HomeAmerican, the documents relating to such loans are held by USBNA, as custodian, pursuant to the Amended and Restated Custody Agreement (“Custody Agreement”), dated as of September 20, 2024, by and between HomeAmerican and USBNA. In the event that an eligible mortgage loan becomes ineligible, as defined under the Mortgage Repurchase Facility, HomeAmerican may be required to repurchase the ineligible mortgage loan immediately. The total capacity of the facility at December 31, 2024 was $ 200 million. The termination date of the Repurchase Agreement is August 8, 2025. | text | 150 | monetaryItemType | text: <entity> 150 </entity> <entity type> monetaryItemType </entity type> <context> Mortgage Repurchase Facility. HomeAmerican entered into the Second Amended and Restated Master Repurchase Agreement (the “Mortgage Repurchase Facility”) with U.S. Bank National Association (“USBNA”) on September 20, 2024. The Mortgage Repurchase Facility provides liquidity to HomeAmerican by providing for the sale of up to an aggregate of $ 150 million (subject to increase by up to $ 150 million under certain conditions) of eligible mortgage loans to USBNA with an agreement by HomeAmerican to repurchase the mortgage loans at a future date. Until such mortgage loans are transferred back to HomeAmerican, the documents relating to such loans are held by USBNA, as custodian, pursuant to the Amended and Restated Custody Agreement (“Custody Agreement”), dated as of September 20, 2024, by and between HomeAmerican and USBNA. In the event that an eligible mortgage loan becomes ineligible, as defined under the Mortgage Repurchase Facility, HomeAmerican may be required to repurchase the ineligible mortgage loan immediately. The total capacity of the facility at December 31, 2024 was $ 200 million. The termination date of the Repurchase Agreement is August 8, 2025. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
At December 31, 2024 and 2023, HomeAmerican had $ 177.6 million and $ 205.0 million, respectively, of mortgage loans that HomeAmerican was obligated to repurchase under the Mortgage Repurchase Facility. Mortgage loans that HomeAmerican is obligated to repurchase under the Mortgage Repurchase Facility are accounted for as a debt financing arrangement and are reported as mortgage repurchase facility in the consolidated balance sheets. Pricing under the Mortgage Repurchase Facility is based on SOFR. | text | 177.6 | monetaryItemType | text: <entity> 177.6 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, HomeAmerican had $ 177.6 million and $ 205.0 million, respectively, of mortgage loans that HomeAmerican was obligated to repurchase under the Mortgage Repurchase Facility. Mortgage loans that HomeAmerican is obligated to repurchase under the Mortgage Repurchase Facility are accounted for as a debt financing arrangement and are reported as mortgage repurchase facility in the consolidated balance sheets. Pricing under the Mortgage Repurchase Facility is based on SOFR. </context> | us-gaap:WarehouseAgreementBorrowings |
At December 31, 2024 and 2023, HomeAmerican had $ 177.6 million and $ 205.0 million, respectively, of mortgage loans that HomeAmerican was obligated to repurchase under the Mortgage Repurchase Facility. Mortgage loans that HomeAmerican is obligated to repurchase under the Mortgage Repurchase Facility are accounted for as a debt financing arrangement and are reported as mortgage repurchase facility in the consolidated balance sheets. Pricing under the Mortgage Repurchase Facility is based on SOFR. | text | 205.0 | monetaryItemType | text: <entity> 205.0 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024 and 2023, HomeAmerican had $ 177.6 million and $ 205.0 million, respectively, of mortgage loans that HomeAmerican was obligated to repurchase under the Mortgage Repurchase Facility. Mortgage loans that HomeAmerican is obligated to repurchase under the Mortgage Repurchase Facility are accounted for as a debt financing arrangement and are reported as mortgage repurchase facility in the consolidated balance sheets. Pricing under the Mortgage Repurchase Facility is based on SOFR. </context> | us-gaap:WarehouseAgreementBorrowings |
We are required to obtain surety bonds and letters of credit in support of our obligations for land development and subdivision improvements, homeowner association dues, warranty work, contractor license fees and earnest money deposits. At December 31, 2024, we had outstanding surety bonds and letters of credit totaling $ 322.4 million and $ 195.6 million, respectively, including $ 152.0 million in letters of credit issued by HomeAmerican. The estimated cost to complete obligations related to these bonds and letters of credit were approximately $ 125.0 million and $ 149.0 million, respectively. All letters of credit as of December 31, 2024, excluding those issued by HomeAmerican, were issued under our unsecured Revolving Credit Facility (see Note 16, | text | 195.6 | monetaryItemType | text: <entity> 195.6 </entity> <entity type> monetaryItemType </entity type> <context> We are required to obtain surety bonds and letters of credit in support of our obligations for land development and subdivision improvements, homeowner association dues, warranty work, contractor license fees and earnest money deposits. At December 31, 2024, we had outstanding surety bonds and letters of credit totaling $ 322.4 million and $ 195.6 million, respectively, including $ 152.0 million in letters of credit issued by HomeAmerican. The estimated cost to complete obligations related to these bonds and letters of credit were approximately $ 125.0 million and $ 149.0 million, respectively. All letters of credit as of December 31, 2024, excluding those issued by HomeAmerican, were issued under our unsecured Revolving Credit Facility (see Note 16, </context> | us-gaap:LettersOfCreditOutstandingAmount |
Because of the nature of the homebuilding business, we have been named as defendants in various claims, complaints and other legal actions arising in the ordinary course of business, including product liability claims and claims associated with the sale and financing of homes. In the opinion of management, the outcome of these ordinary course matters will not have a material adverse effect upon our financial condition, results of operations or cash flows. At both December 31, 2024 and 2023, we had $ 0.5 million and $ 0.3 million, respectively, of legal accruals recorded in accrued liabilities in the consolidated balance sheets. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> Because of the nature of the homebuilding business, we have been named as defendants in various claims, complaints and other legal actions arising in the ordinary course of business, including product liability claims and claims associated with the sale and financing of homes. In the opinion of management, the outcome of these ordinary course matters will not have a material adverse effect upon our financial condition, results of operations or cash flows. At both December 31, 2024 and 2023, we had $ 0.5 million and $ 0.3 million, respectively, of legal accruals recorded in accrued liabilities in the consolidated balance sheets. </context> | us-gaap:LitigationReserve |
Because of the nature of the homebuilding business, we have been named as defendants in various claims, complaints and other legal actions arising in the ordinary course of business, including product liability claims and claims associated with the sale and financing of homes. In the opinion of management, the outcome of these ordinary course matters will not have a material adverse effect upon our financial condition, results of operations or cash flows. At both December 31, 2024 and 2023, we had $ 0.5 million and $ 0.3 million, respectively, of legal accruals recorded in accrued liabilities in the consolidated balance sheets. | text | 0.3 | monetaryItemType | text: <entity> 0.3 </entity> <entity type> monetaryItemType </entity type> <context> Because of the nature of the homebuilding business, we have been named as defendants in various claims, complaints and other legal actions arising in the ordinary course of business, including product liability claims and claims associated with the sale and financing of homes. In the opinion of management, the outcome of these ordinary course matters will not have a material adverse effect upon our financial condition, results of operations or cash flows. At both December 31, 2024 and 2023, we had $ 0.5 million and $ 0.3 million, respectively, of legal accruals recorded in accrued liabilities in the consolidated balance sheets. </context> | us-gaap:LitigationReserve |
. In the ordinary course of business, we enter into lot option purchase contracts (“Option Contracts”), generally through a deposit of cash or a letter of credit, for the right to purchase land or lots at a future point in time with predetermined terms. The use of such land option and other contracts generally allow us to reduce the risks associated with direct land ownership and development, reduces our capital and financial commitments, and minimizes the amount of land inventories on our consolidated balance sheets. In certain cases, these contracts will be settled shortly following the end of the period. Our obligation with respect to Option Contracts is generally limited to forfeiture of the related deposits. At December 31, 2024, we had letters of credit and cash deposits totaling $ 15.0 million and $ 44.1 million, respectively, at risk associated with options to purchase 7,155 lots. | text | 15.0 | monetaryItemType | text: <entity> 15.0 </entity> <entity type> monetaryItemType </entity type> <context> . In the ordinary course of business, we enter into lot option purchase contracts (“Option Contracts”), generally through a deposit of cash or a letter of credit, for the right to purchase land or lots at a future point in time with predetermined terms. The use of such land option and other contracts generally allow us to reduce the risks associated with direct land ownership and development, reduces our capital and financial commitments, and minimizes the amount of land inventories on our consolidated balance sheets. In certain cases, these contracts will be settled shortly following the end of the period. Our obligation with respect to Option Contracts is generally limited to forfeiture of the related deposits. At December 31, 2024, we had letters of credit and cash deposits totaling $ 15.0 million and $ 44.1 million, respectively, at risk associated with options to purchase 7,155 lots. </context> | us-gaap:Deposits |
. In the ordinary course of business, we enter into lot option purchase contracts (“Option Contracts”), generally through a deposit of cash or a letter of credit, for the right to purchase land or lots at a future point in time with predetermined terms. The use of such land option and other contracts generally allow us to reduce the risks associated with direct land ownership and development, reduces our capital and financial commitments, and minimizes the amount of land inventories on our consolidated balance sheets. In certain cases, these contracts will be settled shortly following the end of the period. Our obligation with respect to Option Contracts is generally limited to forfeiture of the related deposits. At December 31, 2024, we had letters of credit and cash deposits totaling $ 15.0 million and $ 44.1 million, respectively, at risk associated with options to purchase 7,155 lots. | text | 44.1 | monetaryItemType | text: <entity> 44.1 </entity> <entity type> monetaryItemType </entity type> <context> . In the ordinary course of business, we enter into lot option purchase contracts (“Option Contracts”), generally through a deposit of cash or a letter of credit, for the right to purchase land or lots at a future point in time with predetermined terms. The use of such land option and other contracts generally allow us to reduce the risks associated with direct land ownership and development, reduces our capital and financial commitments, and minimizes the amount of land inventories on our consolidated balance sheets. In certain cases, these contracts will be settled shortly following the end of the period. Our obligation with respect to Option Contracts is generally limited to forfeiture of the related deposits. At December 31, 2024, we had letters of credit and cash deposits totaling $ 15.0 million and $ 44.1 million, respectively, at risk associated with options to purchase 7,155 lots. </context> | us-gaap:LettersOfCreditOutstandingAmount |
On April 27, 2011, our shareholders approved the M.D.C Holdings, Inc. 2011 Equity Incentive Plan (the “2011 Equity Incentive Plan”) which provided for the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and other equity awards to employees of the Company. Stock options granted under the 2011 Equity Incentive Plan had an exercise price that is at least equal to the fair market value of our common stock on the date the stock option is granted, generally vested in periods up to five years and expired ten years after the date of grant. On April 27, 2021, the 2011 Equity Incentive Plan terminated and awards outstanding at the time the plan terminated remain outstanding in accordance with the terms and conditions of the plan and award agreement. There are no remaining shares of MDC common stock reserved for awards under the 2011 Equity Incentive Plan as of December 31, 2024. | text | no | sharesItemType | text: <entity> no </entity> <entity type> sharesItemType </entity type> <context> On April 27, 2011, our shareholders approved the M.D.C Holdings, Inc. 2011 Equity Incentive Plan (the “2011 Equity Incentive Plan”) which provided for the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and other equity awards to employees of the Company. Stock options granted under the 2011 Equity Incentive Plan had an exercise price that is at least equal to the fair market value of our common stock on the date the stock option is granted, generally vested in periods up to five years and expired ten years after the date of grant. On April 27, 2021, the 2011 Equity Incentive Plan terminated and awards outstanding at the time the plan terminated remain outstanding in accordance with the terms and conditions of the plan and award agreement. There are no remaining shares of MDC common stock reserved for awards under the 2011 Equity Incentive Plan as of December 31, 2024. </context> | us-gaap:CommonStockCapitalSharesReservedForFutureIssuance |
On April 26, 2021, our shareholders approved the M.D.C Holdings, Inc. 2021 Equity Incentive Plan (the "2021 Equity Incentive Plan") which provides for the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and other stock-based and cash awards to employees of the Company. Stock options granted under the 2021 Equity Incentive Plan have an exercise price that is at least equal to the fair market value of our common stock on the date the stock option is granted, generally vest in periods up to five years and expire ten years after the date of grant. On April 17, 2023, our shareholders approved the First Amendment to the M.D.C. Holdings, Inc. 2021 Equity Incentive Plan, which increased the number of shares of Common Stock available under the plan by an additional 3.0 million shares. As a result of the Merger, the 2021 Equity Incentive Plan terminated. There are no remaining shares of MDC common stock reserved for awards under the 2011 Equity Incentive Plan as of December 31, 2024. | text | 3.0 | sharesItemType | text: <entity> 3.0 </entity> <entity type> sharesItemType </entity type> <context> On April 26, 2021, our shareholders approved the M.D.C Holdings, Inc. 2021 Equity Incentive Plan (the "2021 Equity Incentive Plan") which provides for the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and other stock-based and cash awards to employees of the Company. Stock options granted under the 2021 Equity Incentive Plan have an exercise price that is at least equal to the fair market value of our common stock on the date the stock option is granted, generally vest in periods up to five years and expire ten years after the date of grant. On April 17, 2023, our shareholders approved the First Amendment to the M.D.C. Holdings, Inc. 2021 Equity Incentive Plan, which increased the number of shares of Common Stock available under the plan by an additional 3.0 million shares. As a result of the Merger, the 2021 Equity Incentive Plan terminated. There are no remaining shares of MDC common stock reserved for awards under the 2011 Equity Incentive Plan as of December 31, 2024. </context> | us-gaap:CommonStockCapitalSharesReservedForFutureIssuance |
On April 26, 2021, our shareholders approved the M.D.C Holdings, Inc. 2021 Equity Incentive Plan (the "2021 Equity Incentive Plan") which provides for the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and other stock-based and cash awards to employees of the Company. Stock options granted under the 2021 Equity Incentive Plan have an exercise price that is at least equal to the fair market value of our common stock on the date the stock option is granted, generally vest in periods up to five years and expire ten years after the date of grant. On April 17, 2023, our shareholders approved the First Amendment to the M.D.C. Holdings, Inc. 2021 Equity Incentive Plan, which increased the number of shares of Common Stock available under the plan by an additional 3.0 million shares. As a result of the Merger, the 2021 Equity Incentive Plan terminated. There are no remaining shares of MDC common stock reserved for awards under the 2011 Equity Incentive Plan as of December 31, 2024. | text | no | sharesItemType | text: <entity> no </entity> <entity type> sharesItemType </entity type> <context> On April 26, 2021, our shareholders approved the M.D.C Holdings, Inc. 2021 Equity Incentive Plan (the "2021 Equity Incentive Plan") which provides for the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and other stock-based and cash awards to employees of the Company. Stock options granted under the 2021 Equity Incentive Plan have an exercise price that is at least equal to the fair market value of our common stock on the date the stock option is granted, generally vest in periods up to five years and expire ten years after the date of grant. On April 17, 2023, our shareholders approved the First Amendment to the M.D.C. Holdings, Inc. 2021 Equity Incentive Plan, which increased the number of shares of Common Stock available under the plan by an additional 3.0 million shares. As a result of the Merger, the 2021 Equity Incentive Plan terminated. There are no remaining shares of MDC common stock reserved for awards under the 2011 Equity Incentive Plan as of December 31, 2024. </context> | us-gaap:CommonStockCapitalSharesReservedForFutureIssuance |
Effective April 27, 2011, our shareholders approved the M.D.C. Holdings, Inc. 2011 Stock Option Plan for Non-Employee Directors (the “2011 Director Stock Option Plan”), which provided for the grant of non-qualified stock options to non-employee directors of the Company. Effective March 29, 2016, our shareholders approved an amendment to the 2011 Director Stock Option Plan to provide the non-employee directors with an alternative to elect to receive an award of restricted stock in lieu of a stock option. Pursuant to the 2011 Director Stock Option Plan as amended, on August 1 of each year, each non-employee director was granted either (1) an option to purchase 25,000 shares of MDC common stock or (2) shares of restricted stock having an expense to the Company that is equivalent to the stock option. Effective April 20, 2020, our shareholders approved an amendment and restatement of the 2011 Director Stock Option Plan to (1) rename the 2011 Director Stock Option Plan as the M.D.C. Holdings, Inc. 2020 Equity Plan for Non-Employee Directors (such amended and restated 2011 Director Plan, the "2020 Director Equity Plan"), (2) increase the number of shares covered by the annual grant of each stock option to 33,067 shares (without increasing the total number of shares authorized under the plan) to reflect, on a going forward basis, the stock dividends declared by the Company, (3) provide that the number of shares covered by the annual grant shall be proportionally increased or decreased in the future for any increase or decrease in the number of shares of stock outstanding on account of any recapitalization, split, reverse split, combination, exchange, dividend or other distribution | text | 25000 | sharesItemType | text: <entity> 25000 </entity> <entity type> sharesItemType </entity type> <context> Effective April 27, 2011, our shareholders approved the M.D.C. Holdings, Inc. 2011 Stock Option Plan for Non-Employee Directors (the “2011 Director Stock Option Plan”), which provided for the grant of non-qualified stock options to non-employee directors of the Company. Effective March 29, 2016, our shareholders approved an amendment to the 2011 Director Stock Option Plan to provide the non-employee directors with an alternative to elect to receive an award of restricted stock in lieu of a stock option. Pursuant to the 2011 Director Stock Option Plan as amended, on August 1 of each year, each non-employee director was granted either (1) an option to purchase 25,000 shares of MDC common stock or (2) shares of restricted stock having an expense to the Company that is equivalent to the stock option. Effective April 20, 2020, our shareholders approved an amendment and restatement of the 2011 Director Stock Option Plan to (1) rename the 2011 Director Stock Option Plan as the M.D.C. Holdings, Inc. 2020 Equity Plan for Non-Employee Directors (such amended and restated 2011 Director Plan, the "2020 Director Equity Plan"), (2) increase the number of shares covered by the annual grant of each stock option to 33,067 shares (without increasing the total number of shares authorized under the plan) to reflect, on a going forward basis, the stock dividends declared by the Company, (3) provide that the number of shares covered by the annual grant shall be proportionally increased or decreased in the future for any increase or decrease in the number of shares of stock outstanding on account of any recapitalization, split, reverse split, combination, exchange, dividend or other distribution </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee |
Effective April 27, 2011, our shareholders approved the M.D.C. Holdings, Inc. 2011 Stock Option Plan for Non-Employee Directors (the “2011 Director Stock Option Plan”), which provided for the grant of non-qualified stock options to non-employee directors of the Company. Effective March 29, 2016, our shareholders approved an amendment to the 2011 Director Stock Option Plan to provide the non-employee directors with an alternative to elect to receive an award of restricted stock in lieu of a stock option. Pursuant to the 2011 Director Stock Option Plan as amended, on August 1 of each year, each non-employee director was granted either (1) an option to purchase 25,000 shares of MDC common stock or (2) shares of restricted stock having an expense to the Company that is equivalent to the stock option. Effective April 20, 2020, our shareholders approved an amendment and restatement of the 2011 Director Stock Option Plan to (1) rename the 2011 Director Stock Option Plan as the M.D.C. Holdings, Inc. 2020 Equity Plan for Non-Employee Directors (such amended and restated 2011 Director Plan, the "2020 Director Equity Plan"), (2) increase the number of shares covered by the annual grant of each stock option to 33,067 shares (without increasing the total number of shares authorized under the plan) to reflect, on a going forward basis, the stock dividends declared by the Company, (3) provide that the number of shares covered by the annual grant shall be proportionally increased or decreased in the future for any increase or decrease in the number of shares of stock outstanding on account of any recapitalization, split, reverse split, combination, exchange, dividend or other distribution | text | 33067 | sharesItemType | text: <entity> 33067 </entity> <entity type> sharesItemType </entity type> <context> Effective April 27, 2011, our shareholders approved the M.D.C. Holdings, Inc. 2011 Stock Option Plan for Non-Employee Directors (the “2011 Director Stock Option Plan”), which provided for the grant of non-qualified stock options to non-employee directors of the Company. Effective March 29, 2016, our shareholders approved an amendment to the 2011 Director Stock Option Plan to provide the non-employee directors with an alternative to elect to receive an award of restricted stock in lieu of a stock option. Pursuant to the 2011 Director Stock Option Plan as amended, on August 1 of each year, each non-employee director was granted either (1) an option to purchase 25,000 shares of MDC common stock or (2) shares of restricted stock having an expense to the Company that is equivalent to the stock option. Effective April 20, 2020, our shareholders approved an amendment and restatement of the 2011 Director Stock Option Plan to (1) rename the 2011 Director Stock Option Plan as the M.D.C. Holdings, Inc. 2020 Equity Plan for Non-Employee Directors (such amended and restated 2011 Director Plan, the "2020 Director Equity Plan"), (2) increase the number of shares covered by the annual grant of each stock option to 33,067 shares (without increasing the total number of shares authorized under the plan) to reflect, on a going forward basis, the stock dividends declared by the Company, (3) provide that the number of shares covered by the annual grant shall be proportionally increased or decreased in the future for any increase or decrease in the number of shares of stock outstanding on account of any recapitalization, split, reverse split, combination, exchange, dividend or other distribution </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee |
payable in shares of stock, and (4) extend the 2020 Director Equity Plan's termination date to April 20, 2030. Each option granted under the 2020 Director Equity Plan vests immediately, becomes exercisable six months after grant, and expires ten years from the date of grant. The option exercise price must be equal to the fair market value (as defined in the plan) of our common stock on the date of grant of the option. Each restricted stock award granted under the 2020 Equity Plan vests seven months after the grant date. As a result of the Merger, the 2021 Equity Incentive Plan terminated. There are no remaining shares of MDC common stock reserved for awards under the 2011 Equity Incentive Plan as of December 31, 2024. | text | no | sharesItemType | text: <entity> no </entity> <entity type> sharesItemType </entity type> <context> payable in shares of stock, and (4) extend the 2020 Director Equity Plan's termination date to April 20, 2030. Each option granted under the 2020 Director Equity Plan vests immediately, becomes exercisable six months after grant, and expires ten years from the date of grant. The option exercise price must be equal to the fair market value (as defined in the plan) of our common stock on the date of grant of the option. Each restricted stock award granted under the 2020 Equity Plan vests seven months after the grant date. As a result of the Merger, the 2021 Equity Incentive Plan terminated. There are no remaining shares of MDC common stock reserved for awards under the 2011 Equity Incentive Plan as of December 31, 2024. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
. We have a defined contribution plan pursuant to Section 401(k) of the Internal Revenue Code where each employee may elect to make contributions up to the current tax limits. Effective for 2018 and thereafter, we match employee contributions at a rate of 50 % of the first 6 % of compensation and, as of December 31, 2024, we had accrued $ 3.5 million related to the match that is to be contributed in the first quarter of 2025 for 2024 activity. At December 31, 2023, we had accrued $ 3.0 million related to the match that was contributed in the first quarter of 2024 for 2023 activity. At December 31, 2022, we had accrued $ 3.5 million related to the match that was contributed during the first quarter of 2023 for 2022 activity. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> . We have a defined contribution plan pursuant to Section 401(k) of the Internal Revenue Code where each employee may elect to make contributions up to the current tax limits. Effective for 2018 and thereafter, we match employee contributions at a rate of 50 % of the first 6 % of compensation and, as of December 31, 2024, we had accrued $ 3.5 million related to the match that is to be contributed in the first quarter of 2025 for 2024 activity. At December 31, 2023, we had accrued $ 3.0 million related to the match that was contributed in the first quarter of 2024 for 2023 activity. At December 31, 2022, we had accrued $ 3.5 million related to the match that was contributed during the first quarter of 2023 for 2022 activity. </context> | us-gaap:DefinedContributionPlanEmployerMatchingContributionPercentOfMatch |
. We have a defined contribution plan pursuant to Section 401(k) of the Internal Revenue Code where each employee may elect to make contributions up to the current tax limits. Effective for 2018 and thereafter, we match employee contributions at a rate of 50 % of the first 6 % of compensation and, as of December 31, 2024, we had accrued $ 3.5 million related to the match that is to be contributed in the first quarter of 2025 for 2024 activity. At December 31, 2023, we had accrued $ 3.0 million related to the match that was contributed in the first quarter of 2024 for 2023 activity. At December 31, 2022, we had accrued $ 3.5 million related to the match that was contributed during the first quarter of 2023 for 2022 activity. | text | 6 | percentItemType | text: <entity> 6 </entity> <entity type> percentItemType </entity type> <context> . We have a defined contribution plan pursuant to Section 401(k) of the Internal Revenue Code where each employee may elect to make contributions up to the current tax limits. Effective for 2018 and thereafter, we match employee contributions at a rate of 50 % of the first 6 % of compensation and, as of December 31, 2024, we had accrued $ 3.5 million related to the match that is to be contributed in the first quarter of 2025 for 2024 activity. At December 31, 2023, we had accrued $ 3.0 million related to the match that was contributed in the first quarter of 2024 for 2023 activity. At December 31, 2022, we had accrued $ 3.5 million related to the match that was contributed during the first quarter of 2023 for 2022 activity. </context> | us-gaap:DefinedContributionPlanEmployerMatchingContributionPercent |
. We have a defined contribution plan pursuant to Section 401(k) of the Internal Revenue Code where each employee may elect to make contributions up to the current tax limits. Effective for 2018 and thereafter, we match employee contributions at a rate of 50 % of the first 6 % of compensation and, as of December 31, 2024, we had accrued $ 3.5 million related to the match that is to be contributed in the first quarter of 2025 for 2024 activity. At December 31, 2023, we had accrued $ 3.0 million related to the match that was contributed in the first quarter of 2024 for 2023 activity. At December 31, 2022, we had accrued $ 3.5 million related to the match that was contributed during the first quarter of 2023 for 2022 activity. | text | 3.5 | monetaryItemType | text: <entity> 3.5 </entity> <entity type> monetaryItemType </entity type> <context> . We have a defined contribution plan pursuant to Section 401(k) of the Internal Revenue Code where each employee may elect to make contributions up to the current tax limits. Effective for 2018 and thereafter, we match employee contributions at a rate of 50 % of the first 6 % of compensation and, as of December 31, 2024, we had accrued $ 3.5 million related to the match that is to be contributed in the first quarter of 2025 for 2024 activity. At December 31, 2023, we had accrued $ 3.0 million related to the match that was contributed in the first quarter of 2024 for 2023 activity. At December 31, 2022, we had accrued $ 3.5 million related to the match that was contributed during the first quarter of 2023 for 2022 activity. </context> | us-gaap:DefinedContributionPlanCostRecognized |
. We have a defined contribution plan pursuant to Section 401(k) of the Internal Revenue Code where each employee may elect to make contributions up to the current tax limits. Effective for 2018 and thereafter, we match employee contributions at a rate of 50 % of the first 6 % of compensation and, as of December 31, 2024, we had accrued $ 3.5 million related to the match that is to be contributed in the first quarter of 2025 for 2024 activity. At December 31, 2023, we had accrued $ 3.0 million related to the match that was contributed in the first quarter of 2024 for 2023 activity. At December 31, 2022, we had accrued $ 3.5 million related to the match that was contributed during the first quarter of 2023 for 2022 activity. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> . We have a defined contribution plan pursuant to Section 401(k) of the Internal Revenue Code where each employee may elect to make contributions up to the current tax limits. Effective for 2018 and thereafter, we match employee contributions at a rate of 50 % of the first 6 % of compensation and, as of December 31, 2024, we had accrued $ 3.5 million related to the match that is to be contributed in the first quarter of 2025 for 2024 activity. At December 31, 2023, we had accrued $ 3.0 million related to the match that was contributed in the first quarter of 2024 for 2023 activity. At December 31, 2022, we had accrued $ 3.5 million related to the match that was contributed during the first quarter of 2023 for 2022 activity. </context> | us-gaap:DefinedContributionPlanCostRecognized |
Based on calculations using the Black-Scholes option pricing model, the weighted-average grant date fair values of stock options granted, restated as applicable for stock dividends, during 2022 were $ 8.36 . There were no stock options granted during the year ended 2023 or 2024. The expected life of options in the table above represents the weighted-average period for which the options are expected to remain outstanding and are derived primarily from historical exercise patterns. The expected volatility is determined based on our review of the implied volatility that is derived from the price of exchange traded options of the Company. The risk-free interest rate assumption is determined based upon observed interest rates appropriate for the expected term of our employee stock options. The dividend yield assumption is based on our history of dividend payouts. | text | 8.36 | perShareItemType | text: <entity> 8.36 </entity> <entity type> perShareItemType </entity type> <context> Based on calculations using the Black-Scholes option pricing model, the weighted-average grant date fair values of stock options granted, restated as applicable for stock dividends, during 2022 were $ 8.36 . There were no stock options granted during the year ended 2023 or 2024. The expected life of options in the table above represents the weighted-average period for which the options are expected to remain outstanding and are derived primarily from historical exercise patterns. The expected volatility is determined based on our review of the implied volatility that is derived from the price of exchange traded options of the Company. The risk-free interest rate assumption is determined based upon observed interest rates appropriate for the expected term of our employee stock options. The dividend yield assumption is based on our history of dividend payouts. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
The total intrinsic value of options (difference between price per share as of the exercise date and the exercise price, times the number of options outstanding) exercised during the years ended December 31, 2024, 2023 and 2022 was $ 0.1 million, $ 33.7 million and $ 16.2 million, respectively. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> The total intrinsic value of options (difference between price per share as of the exercise date and the exercise price, times the number of options outstanding) exercised during the years ended December 31, 2024, 2023 and 2022 was $ 0.1 million, $ 33.7 million and $ 16.2 million, respectively. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue |
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