Reporting Segments

6 Months Ended

Jun. 30, 2021

Reporting Segments [Abstract]

Reporting Segments

2. Reporting Segments

Our homebuilding operations are engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 17 states. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand is managed by geographic location, and each of our four geographic regions targets a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade selections. Each of our four geographic regions is considered a separate operating segment. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the

internet, and generally provides no option or upgrade selections. Our Century Complete brand currently has operations in 11 states and is managed separately from our four geographic regions. Accordingly, it is considered a separate operating segment.

The management of our four Century Communities geographic regions and Century Complete reports to our chief operating decision makers (which we refer to as “CODMs”), the Co-Chief Executive Officers of our Company. The CODMs review the results of our operations, including total revenue and income before income tax expense to determine profitability and to allocate resources. Accordingly, we have presented our homebuilding operations as the following five reportable segments:

West (California and Washington)

Mountain (Arizona, Colorado, Nevada, and Utah)

Texas

Southeast (Georgia, North Carolina, South Carolina, Tennessee, and Florida)

Century Complete (Alabama, Arizona, Florida, Georgia, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, and Texas)

We have also identified our Financial Services operations, which provide mortgage, title, and insurance services to our homebuyers, as a sixth reportable segment. Our Corporate operations are a non-operating segment, as they serve to support our homebuilding, and to a lesser extent our financial services operations, through functions, such as our executive, finance, treasury, human resources, accounting and legal departments. The following table summarizes total revenue and income before income tax expense by segment (in thousands): 

‎

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Revenue:
West	$	237,367	$	166,125	$	423,193	$	298,012
Mountain		295,001		177,569		600,314		348,721
Texas		132,789		98,678		220,524		158,842
Southeast		168,519		174,626		388,925		306,128
Century Complete		179,371		133,724		355,040		231,833
Financial Services		29,865		25,722		63,485		35,517
Corporate		—		—		—		—
Total revenue	$	1,042,912	$	776,444	$	2,051,481	$	1,379,053
Income (loss) before income tax expense:
West	$	40,903	$	13,747	$	68,364	$	29,089
Mountain		55,814		20,616		107,794		39,094
Texas		19,139		9,610		27,670		15,108
Southeast		26,096		12,020		49,536		20,329
Century Complete		23,089		8,548		44,819		9,333
Financial Services		11,697		12,978		27,016		13,187
Corporate		(24,604)		(27,416)		(42,016)		(41,949)
Total income before income tax expense	$	152,134	$	50,103	$	283,183	$	84,191

The following table summarizes total assets by segment (in thousands):

	June 30,		December 31,
	2021		2020
West	$	611,192	$	536,907
Mountain		803,816		778,198
Texas		238,221		207,746
Southeast		279,101		329,930
Century Complete		284,838		218,604
Financial Services		333,109		421,153
Corporate		343,976		352,555
Total assets	$	2,894,253	$	2,845,093

Corporate assets primarily include certain cash and cash equivalents, certain property and equipment, prepaid insurance, and deferred financing costs on our revolving line of credit.