Information on Segments

We operate in two segments: Traditional Home Building and Urban Infill. We build and sell detached and attached homes in luxury residential communities located in affluent suburban markets that cater to move-up, empty-nester, active-adult, age-qualified, and second-home buyers in the United States (“Traditional Home Building”). We also build and sell homes in urban infill markets through Toll Brothers City Living^® (“City Living”).

We have determined that our Traditional Home Building operations operate in five geographic segments: North, Mid-Atlantic, South, West, and California. The states comprising each geographic segment are as follows:

North: Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey, and New York

Mid-Atlantic: Delaware, Maryland, Pennsylvania, and Virginia

South: Florida, North Carolina, and Texas

West: Arizona, Colorado, Idaho, Nevada, and Washington

California: California

Revenue and income (loss) before income taxes for each of our segments, for the periods indicated, were as follows (amounts in thousands):



	Nine months ended July 31,						Three months ended July 31,
	2017			2016			2017			2016
Revenues:
Traditional Home Building:
North	$	560,812		$	491,692		$	225,829		$	205,200
Mid-Atlantic	692,457			576,991			281,915			220,596
South	591,211			571,364			253,904			232,118
West	821,241			548,701			307,406			223,076
California	928,303			881,779			335,224			336,438
Traditional Home Building	3,594,024			3,070,527			1,404,278			1,217,428
City Living	193,127			243,530			98,631			52,506
Total	$	3,787,151		$	3,314,057		$	1,502,909		$	1,269,934

Income (loss) before income taxes:
Traditional Home Building:
North	$	37,042		$	35,300		$	16,436		$	18,994
Mid-Atlantic	69,171			56,348			35,628			18,478
South	67,496			84,765			33,566			32,386
West	111,002			74,164			43,180			30,313
California	199,232			198,776			72,703			80,293
Traditional Home Building	483,943			449,353			201,513			180,464
City Living	131,782			74,598			46,750			14,682
Corporate and other	(103,161		)	(103,084		)	(44,689		)	(31,493		)
Total	$	512,564		$	420,867		$	203,574		$	163,653

“Corporate and other” is comprised principally of general corporate expenses such as the offices of our executive officers; the corporate finance, accounting, audit, tax, human resources, risk management, information technology, marketing, and legal groups; interest income; income from certain of our ancillary businesses, including Gibraltar; and income from a number of our unconsolidated entities.

Total assets for each of our segments, as of the dates indicated, are shown in the table below (amounts in thousands):



	July 31, 2017		October 31, 2016
Traditional Home Building:
North	$	1,089,376	$	1,020,250
Mid-Atlantic	1,177,785		1,166,023
South	1,288,665		1,203,554
West	1,276,911		1,130,625
California	2,714,799		2,479,885
Traditional Home Building	7,547,536		7,000,337
City Living	760,349		946,738
Corporate and other	1,821,051		1,789,714
Total	$	10,128,936	$	9,736,789

“Corporate and other” is comprised principally of cash and cash equivalents, restricted cash and investments, deferred tax assets, investments in our Rental Property Joint Ventures, expected recoveries from insurance carriers and suppliers, our Gibraltar investments, manufacturing facilities, and our mortgage and title subsidiaries.