Schedule of Segment Reporting Information |
Financial information relating to the Company’s reportable segments is as follows. Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented. | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | (in thousands) | 2018 | | 2017 | | 2018 | | 2017 | Revenues: (1) | | | | | | | | Builder operations | | | | | |
| | | Texas | $ | 66,893 |
| | $ | 46,710 |
| | $ | 138,441 |
| | $ | 97,380 |
| Georgia | 66,556 |
| | 53,635 |
| | 119,274 |
| | 96,362 |
| Florida | 10,869 |
| | — |
| | 10,869 |
| | — |
| Land development | 10,692 |
| | 4,606 |
| | 14,691 |
| | 10,546 |
| Corporate and other (2) | — |
| | — |
| | — |
| | — |
| Total revenues | $ | 155,010 |
| | $ | 104,951 |
| | $ | 283,275 |
| | $ | 204,288 |
| | | | | | | | | Gross profit: (1) | | | | | | | | Builder operations | | | | | | | | Texas | $ | 15,432 |
| | $ | 12,063 |
| | $ | 32,449 |
| | $ | 24,373 |
| Georgia | 16,294 |
| | 11,774 |
| | 28,158 |
| | 21,122 |
| Florida | 2,511 |
| | — |
| | 2,511 |
| | — |
| Land development | 3,164 |
| | 1,287 |
| | 4,449 |
| | 3,115 |
| Corporate and other (2) | (2,783 | ) | | (2,198 | ) | | (5,819 | ) | | (4,398 | ) | Total gross profit | $ | 34,618 |
| | $ | 22,926 |
| | $ | 61,748 |
| | $ | 44,212 |
| | | | | | | | | Income (loss) before taxes: | |
| | |
| | |
| | | Builder operations | | | | | | | | Texas | $ | 9,942 |
| | $ | 7,878 |
| | $ | 21,042 |
| | $ | 16,253 |
| Georgia | 12,243 |
| | 8,213 |
| | 20,221 |
| | 14,315 |
| Florida | 1,108 |
| | — |
| | 1,108 |
| | — |
| Land development | 2,664 |
| | 873 |
| | 3,683 |
| | 2,378 |
| Corporate and other (2)(3) | (1,727 | ) | | (3,151 | ) | | (5,213 | ) | | (7,018 | ) | Total income before taxes | $ | 24,230 |
| | $ | 13,813 |
| | $ | 40,841 |
| | $ | 25,928 |
| | | | | | | | | | June 30, 2018 | | December 31, 2017 | | | | | Inventory: | | | | | | | | Builder operations | | | | | | | | Texas | $ | 128,062 |
| | $ | 111,271 |
| | | | | Georgia | 105,699 |
| | 99,613 |
| | | | | Florida | 41,645 |
| | — |
| | | | | Land development | 291,251 |
| | 272,542 |
| | | | | Corporate and other (2)(4) | 14,711 |
| | 12,628 |
| | | | | Total inventory | $ | 581,368 |
| | $ | 496,054 |
| | | | | | | | | | | | | Goodwill: | | | | | | | | Builder operations | | | | | | | | Florida (5) | $ | 1,725 |
| | $ | — |
| | | | |
| | (1) | Builder operations segment revenue does not equal revenue from the sale of residential units included in the consolidated statements of income in periods when our controlled builders have sales of land or lots, which for the three and six months ended June 30, 2018 were $0.4 million and $4.3 million, respectively, compared to $0.0 million for the three and six months ended June 30, 2017. Revenue from such sales is included in builder operations segment revenue as it relates to builder operations, and included in revenue from sale of land and lots in the condensed consolidated statements of income. |
| | (2) | Corporate and other is comprised principally of general corporate expenses associated with administrative functions such as finance, treasury, information technology and human resources. |
| | (3) | Corporate and other income (loss) before taxes includes results from Green Brick Title, Challenger Homes, Green Brick Mortgage, and Providence Title. |
| | (4) | Corporate and other inventory consists of capitalized overhead and interest related to work in process and land under development. |
| | (5) | In connection with the GHO Homes acquisition, the Company recorded a provisional amount of goodwill of $1.7 million. The valuation of goodwill has not yet been finalized. See Note 2. |
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