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Segment Information
9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Segment Information
Segment Information
We operate two principal businesses: homebuilding and financial services.
Our homebuilding operations consist of six homebuilding brands that acquire and develop land and construct and sell single-family detached and attached homes. In accordance with ASC Topic 280, Segment Reporting, in determining the most appropriate reportable segments, we considered similar economic and other characteristics, including product types, average selling prices, gross profits, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, and underlying demand and supply. Based upon these factors, our homebuilding operations are comprised of the following six reportable segments: Maracay, consisting of operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado; and Winchester Homes, consisting of operations in Maryland and Virginia.
Our TRI Pointe Solutions financial services operation is a reportable segment and is comprised of our TRI Pointe Connect mortgage financing operations, our TRI Pointe Assurance title services operations, and our TRI Pointe Advantage property and casualty insurance agency operations. For further details, see Note 1, Organization, Basis of Presentation and Summary of Significant Accounting Policies.
Corporate is a non-operating segment that develops and implements company-wide strategic initiatives and provides support to our homebuilding reporting segments by centralizing certain administrative functions, such as marketing, legal, accounting, treasury, insurance, internal audit and risk management, information technology and human resources, to benefit from economies of scale. Our Corporate non-operating segment also includes general and administrative expenses related to operating our corporate headquarters. A portion of the expenses incurred by Corporate is allocated to the homebuilding reporting segments.
The reportable segments follow the same accounting policies used for our consolidated financial statements, as described in Note 1, Organization, Basis of Presentation and Summary of Significant Accounting Policies. 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.

Total revenues and income before income taxes for each of our reportable segments were as follows (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Revenues
 
 
 
 
 
 
 
Maracay
$
66,730

 
$
78,167

 
$
182,134

 
$
204,981

Pardee Homes
224,452

 
231,376

 
648,208

 
495,452

Quadrant Homes
66,174

 
54,781

 
193,481

 
135,599

Trendmaker Homes
78,606

 
53,787

 
197,730

 
171,615

TRI Pointe Homes
264,499

 
239,110

 
710,561

 
524,159

Winchester Homes
74,130

 
60,219

 
196,782

 
149,065

Total homebuilding revenues
774,591

 
717,440

 
2,128,896

 
1,680,871

Financial services
480

 
295

 
1,154

 
881

Total
$
775,071

 
$
717,735

 
$
2,130,050

 
$
1,681,752

 
 
 
 
 
 
 
 
Income (loss) before income taxes
 
 
 
 
 
 
 
Maracay
$
6,260

 
$
6,431

 
$
15,665

 
$
14,429

Pardee Homes
36,087

 
82,407

 
122,195

 
128,570

Quadrant Homes
9,269

 
6,251

 
25,206

 
13,104

Trendmaker Homes
7,379

 
3,233

 
13,977

 
9,657

TRI Pointe Homes
30,945

 
24,382

 
69,651

 
39,779

Winchester Homes
4,122

 
4,284

 
9,908

 
6,903

Corporate
(12,773
)
 
(10,151
)
 
(36,351
)
 
(32,868
)
Total homebuilding income before income taxes
81,289

 
116,837

 
220,251

 
179,574

Financial services
2,341

 
1,564

 
5,735

 
3,559

Total
$
83,630

 
$
118,401

 
$
225,986

 
$
183,133

 
Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands):
 
September 30, 2018
 
December 31, 2017
Real estate inventories
 
 
 
Maracay
$
308,887

 
$
243,883

Pardee Homes
1,361,960

 
1,245,659

Quadrant Homes
312,645

 
257,887

Trendmaker Homes
223,576

 
204,926

TRI Pointe Homes
872,137

 
855,727

Winchester Homes
298,530

 
297,471

Total
$
3,377,735

 
$
3,105,553

 
 
 
 
Total assets
 
 
 
Maracay
$
330,998

 
$
268,866

Pardee Homes
1,450,432

 
1,346,296

Quadrant Homes
336,665

 
312,803

Trendmaker Homes
250,728

 
224,995

TRI Pointe Homes
1,069,085

 
1,062,920

Winchester Homes
324,668

 
313,921

Corporate
97,651

 
262,740

Total homebuilding assets
3,860,227

 
3,792,541

Financial services
16,877

 
12,840

Total
$
3,877,104

 
$
3,805,381