v3.22.4
Interest
 3 Months Ended
Dec. 31, 2022
Real Estate [Abstract]  
Interest Interest
Interest capitalized during the three months ended December 31, 2022 and 2021 was based upon the balance of inventory eligible for capitalization. The following table presents certain information regarding interest for the periods presented:
Three Months Ended December 31,
in thousands20222021
Capitalized interest in inventory, beginning of period$109,088 $106,985 
Interest incurred17,830 18,311 
Interest expense not qualified for capitalization and included as other expense(a)
— — 
Capitalized interest amortized to home construction and land sales expenses(b)
(13,775)(14,780)
Capitalized interest in inventory, end of period$113,143 $110,516 
(a) The amount of interest capitalized depends on the qualified inventory balance, which considers the status of the Company's inventory holdings. Qualified inventory balance includes the majority of homes under construction and land under development but excludes land held for future development and land held for sale.
(b) Capitalized interest amortized to home construction and land sales expenses varies based on the number of homes closed during the period and land sales, if any, as well as other factors.