v3.26.1
Intangible Assets, Goodwill and Other - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Goodwill and Intangible Assets Disclosure [Text Block]
Intangible Assets

Intangible assets were recognized related to the acquired trade name from the GRBK GHO Homes business combination. The Company holds an 80% controlling interest in this Florida-based partnership. The amortization of the acquired trade name of $0.1 million for each of the years ended December 31, 2025, 2024, and 2023, respectively, was recorded in selling, general and administrative expense in the consolidated statements of income. The accumulated amortization of the acquired trade name was $0.7 million and $0.6 million as of December 31, 2025 and December 31, 2024, respectively.

The estimated amortization expense related to the acquired trade name for each of the next five years as of December 31, 2025 is as follows (in thousands):
2026$85 
202785 
202827 
2029— 
2030— 
Total$197 

Goodwill

Pursuant to this acquisition, the Company recognized goodwill of $0.7 million. The Company performed its annual goodwill impairment testing during the fourth quarter of 2025 by completing a qualitative assessment of its Southeast reporting unit, which included the review of macroeconomic conditions and financial performance of the reporting unit, among others. Through this assessment, the Company determined that the carrying amount of the Southeast reporting unit does not exceed its fair value. The Company did not record any goodwill impairments during the years ended December 31, 2025, 2024 and 2023.

Redeemable Noncontrolling Interest in Equity of Consolidated Subsidiary

As part of the GRBK GHO business combination, we entered into a put/call agreement (“Put/Call Agreement”) with respect to the equity interest in the joint venture held by the minority partner. The Put/Call Agreement provides that the 20% ownership interest in GRBK GHO held by the minority partner would be subject to put and purchase options starting in April 2024. On March 23, 2023, the Company and the minority partner amended the operating agreement of GRBK GHO to change the start of the put and purchase options from April 2024 to April 2027. The exercise price would be based on the financial results of GRBK GHO for the completed quarters prior to exercise of the option and commencing with the second quarter of 2021. If the minority partner does not exercise the put option, we have the option, but not the obligation, to buy the 20% interest in GRBK GHO from our partner.

Based on the nature of the put/call structure, the noncontrolling interest attributable to the 20% minority interest owned by our Florida-based partner is included as redeemable noncontrolling interest in equity of consolidated subsidiary in the Company’s consolidated financial statements.
The following table shows the changes in redeemable noncontrolling interest in equity of consolidated subsidiary during the years ended December 31, 2025 and 2024 (in thousands):
Years Ended December 31,
20252024
Redeemable noncontrolling interest, beginning of period$44,709 $36,135 
Net income attributable to redeemable noncontrolling interest partner9,449 8,057 
Distributions of income to redeemable noncontrolling interest partner(4,029)(2,637)
Change in fair value of redeemable noncontrolling interest2,142 3,154 
Redeemable noncontrolling interest, end of period$52,271 $44,709 
  
Amortization of Intangible Assets $ 100,000  
Finite-Lived Intangible Assets, Accumulated Amortization $ 700,000 $ 600,000