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Segment Information (Tables)
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
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)2022202120222021
Revenues: (1)
Builder operations
Central$364,880 $234,315 $626,578 $392,701 
Southeast147,659 117,658 250,716 186,342 
Total builder operations512,539 351,973 877,294 579,043 
Land development12,605 21,833 41,466 29,242 
Total revenues$525,144 $373,806 $918,760 $608,285 
Gross profit:
Builder operations
Central$133,508 $68,144 $217,572 $112,033 
Southeast43,274 34,293 69,050 53,342 
Total builder operations176,782 102,437 286,622 165,375 
Land development3,828 5,524 11,242 7,304 
Corporate, other and unallocated (2)
(11,714)(6,985)(20,612)(12,714)
Total gross profit$168,896 $100,976 $277,252 $159,965 
Income before income taxes:
Builder operations
Central$102,991 $44,360 $162,476 $69,218 
Southeast30,184 24,246 45,678 34,409 
Total builder operations133,175 68,606 208,154 103,627 
Land development3,625 5,285 11,210 7,129 
Corporate, other and unallocated (3)
1,482 86 1,551 (1,517)
Income before income taxes$138,282 $73,977 $220,915 $109,239 
June 30, 2022December 31, 2021
Inventory:
Builder operations
Central$493,946 $460,796 
Southeast295,202 258,759 
Total builder operations789,148 719,555 
Land development541,748 449,654 
Corporate, other and unallocated (4)
38,304 34,534 
Total inventory$1,369,200 $1,203,743 
Goodwill:
Builder operations - Southeast$680 $680 
(1)The sum of Builder operations Central and Southeast segments’ revenues does not equal residential units revenue included in the condensed consolidated statements of income in periods when our builders have revenues from land or
lot closings, which for the three and six months ended June 30, 2022 were de minimis and $0.1 million, respectively, compared to $18.5 million and $28.3 million for the three and six months ended June 30, 2021, respectively.
(2)Corporate, other and unallocated gross loss is comprised of capitalized overhead and capitalized interest adjustments that are not allocated to builder operations and land development segments.
(3)Corporate, other and unallocated income (loss) before income taxes includes results from Green Brick Title, LLC, C Brick Insurance, LLC, and investments in unconsolidated subsidiaries, in addition to capitalized cost adjustments that are not allocated to operating segments.
(4)Corporate, other and unallocated inventory consists of capitalized overhead and interest related to work in process and land under development.