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Business Segments Business Segments (Tables)
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The following table shows, by segment, revenue, operating income (loss) and interest (income) expense - net for the three and six months ended June 30, 2024 and 2023, as well as the Company’s income before income taxes for such periods:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2024202320242023
Revenue:
Northern homebuilding$464,781 $383,886 $873,301 $766,616 
Southern homebuilding614,238 604,861 1,225,459 1,197,380 
Financial services (a)
30,762 25,266 57,724 50,547 
Total revenue$1,109,781 $1,014,013 $2,156,484 $2,014,543 
Operating income (loss):
Northern homebuilding$72,821 $46,853 $130,882 $86,013 
Southern homebuilding119,750 109,912 237,593 207,524 
Financial services (a)
17,883 13,743 33,070 28,711 
Less: Corporate selling, general and administrative expense(23,663)(19,849)(41,435)(37,003)
Total operating income$186,791 $150,659 $360,110 $285,245 
Interest (income) expense - net:
Northern homebuilding$(56)$(47)$(136)$(93)
Southern homebuilding (203)(398)(205)
Financial services (a)
3,483 2,584 6,358 4,911 
Corporate(10,775)(7,004)(20,092)(10,672)
Total interest income, net of interest expense
$(7,348)$(4,670)$(14,268)$(6,059)
Other income
 (28) (35)
Income before income taxes$194,139 $155,357 $374,378 $291,339 
(a)Our financial services operational results should be viewed in connection with our homebuilding business as its operations originate loans and provide title services primarily for our homebuying customers, with the exception of an immaterial amount of mortgage refinancing.
Reconciliation of Assets from Segment to Consolidated
The following tables show total assets by segment at June 30, 2024 and December 31, 2023:
June 30, 2024
(In thousands)NorthernSouthernCorporate, Financial Services and UnallocatedTotal
Deposits on real estate under option or contract$11,003 $51,943 $ $62,946 
Inventory (a)
1,020,600 1,854,918  2,875,518 
Investments in joint venture arrangements 46,180  46,180 
Other assets48,208 149,437 
(b)
1,157,781 1,355,426 
Total assets$1,079,811 $2,102,478 $1,157,781 $4,340,070 

December 31, 2023
(In thousands)NorthernSouthernCorporate, Financial Services and UnallocatedTotal
Deposits on real estate under option or contract$8,990 $42,618 $— $51,608 
Inventory (a)
1,016,982 1,728,561 — 2,745,543 
Investments in joint venture arrangements— 44,011 — 44,011 
Other assets37,171 104,306 
(b)
1,039,801 1,181,278 
Total assets$1,063,143 $1,919,496 $1,039,801 $4,022,440 
(a)Inventory includes single-family lots, land and land development costs; land held for sale; homes under construction; model homes and furnishings; community development district infrastructure; and consolidated inventory not owned.
(b)Includes development reimbursements from local municipalities.