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Segment Information
9 Months Ended
Sep. 30, 2012
Segment Reporting [Abstract]  
Segment Information
Segment information

Our Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the U.S. and the construction of housing on such land. For reporting purposes, our Homebuilding operations are aggregated into six reportable segments. During 2011, we realigned our organizational structure and reportable segment presentation. As part of the change in presentation, we removed the "Other non-operating" distinction. Amounts previously classified within "Other non-operating" have been reclassified to "Other homebuilding." Accordingly, the segment information provided in this note has been reclassified to conform to the current presentation for all periods presented.
Northeast:
  
Connecticut, Delaware, Maryland, Massachusetts, New Jersey, New York, Pennsylvania,
Rhode Island, Virginia
Southeast:
  
Georgia, North Carolina, South Carolina, Tennessee
Florida:
 
Florida
Texas:
 
Texas
North:
  
Illinois, Indiana, Michigan, Minnesota, Missouri, Northern California, Ohio, Oregon, Washington
Southwest:
  
Arizona, Colorado, Hawaii, Nevada, New Mexico, Southern California

We also have one reportable segment for our Financial Services operations, which consist principally of mortgage banking and title operations. The Financial Services segment operates generally in the same markets as the Homebuilding segments.

Evaluation of segment performance is generally based on income before income taxes. Each reportable segment generally follows the same accounting policies described in Note 1 - "Summary of Significant Accounting Policies" to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2011.
 
 
Operating Data by Segment
($000’s omitted)
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2012
 
2011
 
2012
 
2011
Revenues:
 
 
 
 
 
 
 
Northeast
$
194,732

 
$
196,834

 
$
502,813

 
$
459,154

Southeast
194,654

 
182,828

 
496,244

 
492,764

Florida
165,621

 
160,171

 
439,665

 
411,225

Texas
179,581

 
182,689

 
471,648

 
467,223

North
277,297

 
206,671

 
666,458

 
513,503

Southwest
243,442

 
184,834

 
563,837

 
458,756

 
1,255,327

 
1,114,027

 
3,140,665

 
2,802,625

Financial Services
47,264

 
27,904

 
112,367

 
71,720

Consolidated revenues
$
1,302,591

 
$
1,141,931

 
$
3,253,032

 
$
2,874,345

 
 
 
 
 
 
 
 
Income (loss) before income taxes:
 
 
 
 
 
 
 
Northeast
$
20,303

 
$
(55
)
 
$
42,940

 
$
845

Southeast
21,227

 
14,995

 
40,724

 
28,547

Florida
23,723

 
17,716

 
46,530

 
23,823

Texas
18,807

 
12,352

 
34,704

 
23,487

North
26,494

 
1,903

 
38,281

 
(9,973
)
Southwest
27,882

 
31,542

 
41,817

 
21,472

Other homebuilding (a)
(59,257
)
 
(289,579
)
 
(162,230
)
 
(382,382
)
 
79,179

 
(211,126
)
 
82,766

 
(294,181
)
Financial Services (b)
26,727

 
8,626

 
49,575

 
(7,044
)
Consolidated income (loss) before
  income taxes
$
105,906

 
$
(202,500
)
 
$
132,341

 
$
(301,225
)

(a)
Other homebuilding includes the amortization of intangible assets and capitalized interest, goodwill impairments, and other costs not allocated to the operating segments.
(b)
Financial Services income (loss) before income taxes includes interest income of $1.6 million and $4.1 million for the three and nine months ended September 30, 2012, respectively, and $1.4 million and $3.4 million for the three and nine months ended September 30, 2011, respectively.

 
 
Land-Related Charges by Segment
($000's omitted)
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2012
 
2011
 
2012
 
2011
Land and community valuation adjustments:
 
 
 
 
 
 
 
Northeast
$

 
$
4

 
$
535

 
$
4

Southeast

 
522

 

 
791

Florida

 

 

 

Texas

 

 

 

North
385

 

 
2,373

 
1,818

Southwest

 

 
1,810

 

Other homebuilding (a)
1,878

 
968

 
4,855

 
2,284

 
$
2,263

 
$
1,494

 
$
9,573

 
$
4,897

Net realizable value adjustments (NRV) - land held
   for sale:
 
 
 
 
 
 
 
Northeast
$

 
$

 
$

 
$

Southeast
69

 

 
350

 

Florida
11

 

 
49

 

Texas
154

 
143

 
412

 
143

North
29

 

 
94

 
(249
)
Southwest
(14
)
 

 
347

 

 
$
249

 
$
143

 
$
1,252

 
$
(106
)
Write-off of deposits and pre-acquisition costs:
 
 
 
 
 
 
 
Northeast
$
727

 
$
199

 
$
815

 
$
2,157

Southeast
46

 
334

 
589

 
567

Florida
69

 

 
80

 
118

Texas
21

 
103

 
70

 
164

North
13

 
557

 
156

 
1,732

Southwest
17

 
1,103

 
88

 
1,890

 
$
893

 
$
2,296

 
$
1,798

 
$
6,628

Total land-related charges
$
3,405

 
$
3,933

 
$
12,623

 
$
11,419


(a)
Primarily write-offs of capitalized interest related to land and community valuation adjustments.
 
Operating Data by Segment
 
($000's omitted)
 
September 30, 2012
 
Homes Under
Construction
 
Land Under
Development
 
Raw Land
 
Total
Inventory
 
Total
Assets
Northeast
$
246,930

 
$
435,850

 
$
108,996

 
$
791,776

 
$
930,644

Southeast
168,184

 
291,330

 
116,376

 
575,890

 
602,319

Florida
148,264

 
304,433

 
103,374

 
556,071

 
629,877

Texas
155,783

 
271,519

 
57,901

 
485,203

 
552,183

North
295,685

 
364,635

 
42,370

 
702,690

 
763,149

Southwest
282,137

 
502,953

 
172,721

 
957,811

 
1,031,975

Other homebuilding (a)
61,244

 
273,833

 
66,053

 
401,130

 
2,324,646

 
1,358,227

 
2,444,553

 
667,791

 
4,470,571

 
6,834,793

Financial Services

 

 

 

 
305,787

 
$
1,358,227

 
$
2,444,553

 
$
667,791

 
$
4,470,571

 
$
7,140,580

 
 
 
 
 
 
 
 
 
 
 
December 31, 2011
 
Homes Under
Construction
 
Land Under
Development
 
Raw Land
 
Total
Inventory
 
Total
Assets
Northeast
$
237,722

 
$
457,010

 
$
119,549

 
$
814,281

 
$
957,844

Southeast
166,302

 
315,208

 
123,209

 
604,719

 
626,506

Florida
137,900

 
321,841

 
110,040

 
569,781

 
637,418

Texas
136,325

 
294,814

 
77,125

 
508,264

 
568,974

North
268,011

 
360,202

 
91,260

 
719,473

 
803,174

Southwest
216,067

 
577,656

 
216,554

 
1,010,277

 
1,099,058

Other homebuilding (a)
48,390

 
283,770

 
77,513

 
409,673

 
1,904,847

 
1,210,717

 
2,610,501

 
815,250

 
4,636,468

 
6,597,821

Financial Services

 

 

 

 
287,799

 
$
1,210,717

 
$
2,610,501

 
$
815,250

 
$
4,636,468

 
$
6,885,620

 
(a)
Other homebuilding primarily includes capitalized interest, cash and equivalents, income taxes receivable, intangibles, and other corporate items that are not allocated to the operating segments.