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Segment Information
6 Months Ended
Jun. 30, 2016
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:
Northeast:
 
Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia
Southeast:
 
Georgia, North Carolina, South Carolina, Tennessee
Florida:
 
Florida
Midwest:
 
Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio
Texas:
 
Texas
West:
 
Arizona, California, Nevada, New Mexico, Washington


We also have a reportable segment for our Financial Services operations, which consist principally of mortgage banking and title operations and operate generally in the same markets as the Homebuilding segments.
 
Operating Data by Segment
($000’s omitted)
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2016
 
2015
 
2016
 
2015
Revenues:
 
 
 
 
 
 
 
Northeast
$
152,517

 
$
137,181

 
$
271,171

 
$
248,334

Southeast (a)
387,675

 
245,250

 
682,101

 
431,038

Florida
283,440

 
208,740

 
553,281

 
411,802

Midwest
286,649

 
227,489

 
476,541

 
406,141

Texas
255,471

 
185,489

 
468,763

 
362,988

West
391,080

 
245,388

 
701,705

 
494,934

 
1,756,832

 
1,249,537

 
3,153,562

 
2,355,237

Financial Services
43,082

 
30,754

 
78,930

 
58,352

Consolidated revenues
$
1,799,914

 
$
1,280,291

 
$
3,232,492

 
$
2,413,589

 
 
 
 
 
 
 
 
Income before income taxes:
 
 
 
 
 
 
 
Northeast
$
19,238

 
$
15,330

 
$
28,828

 
$
24,857

Southeast (a)
40,758

 
39,871

 
60,528

 
64,495

Florida
44,353

 
39,315

 
84,655

 
72,539

Midwest
26,253

 
14,630

 
31,873

 
15,810

Texas
36,223

 
24,488

 
64,740

 
47,278

West
41,829

 
32,441

 
75,336

 
63,521

Other homebuilding (b)
(36,108
)
 
(8,435
)
 
(64,981
)
 
(40,113
)
 
172,546

 
157,640

 
280,979

 
248,387

Financial Services
17,034

 
9,987

 
26,814

 
15,044

Consolidated income before income taxes
$
189,580

 
$
167,627

 
$
307,793

 
$
263,431



(a)
Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1).
(b)
Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. For the three and six months ended June 30, 2015, Other homebuilding also includes a reserve reversal of $26.9 million resulting from a favorable legal settlement.
 
Operating Data by Segment
 
($000's omitted)
 
June 30, 2016
 
Homes Under
Construction
 
Land Under
Development
 
Raw Land
 
Total
Inventory
 
Total
Assets
Northeast
$
215,519

 
$
307,440

 
$
122,107

 
$
645,066

 
$
783,163

Southeast (a)
376,012

 
554,662

 
230,502

 
1,161,176

 
1,263,995

Florida
288,038

 
641,869

 
164,140

 
1,094,047

 
1,238,973

Midwest
303,569

 
435,719

 
62,252

 
801,540

 
859,922

Texas
234,589

 
367,399

 
85,593

 
687,581

 
782,448

West
614,600

 
1,186,901

 
175,141

 
1,976,642

 
2,185,570

Other homebuilding (b)
26,152

 
210,867

 
26,393

 
263,412

 
1,957,860

 
2,058,479

 
3,704,857

 
866,128

 
6,629,464

 
9,071,931

Financial Services

 

 

 

 
435,125

 
$
2,058,479

 
$
3,704,857

 
$
866,128

 
$
6,629,464

 
$
9,507,056

 
 
 
 
 
 
 
 
 
 
 
December 31, 2015
 
Homes Under
Construction
 
Land Under
Development
 
Raw Land
 
Total
Inventory
 
Total
Assets
Northeast
$
163,173

 
$
292,631

 
$
121,522

 
$
577,326

 
$
688,610

Southeast
196,456

 
367,577

 
139,246

 
703,279

 
765,933

Florida
227,910

 
574,092

 
97,185

 
899,187

 
1,013,543

Midwest
197,738

 
414,386

 
68,918

 
681,042

 
734,834

Texas
191,424

 
317,702

 
107,737

 
616,863

 
691,342

West
413,208

 
1,094,112

 
222,920

 
1,730,240

 
1,924,958

Other homebuilding (b)
18,351

 
198,566

 
25,204

 
242,121

 
2,628,687

 
1,408,260

 
3,259,066

 
782,732

 
5,450,058

 
8,447,907

Financial Services

 

 

 

 
508,989

 
$
1,408,260

 
$
3,259,066

 
$
782,732

 
$
5,450,058

 
$
8,956,896


 
(a)
Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1).
(b)
Other homebuilding primarily includes cash and equivalents, capitalized interest, intangibles, deferred tax assets, and other corporate items that are not allocated to the operating segments.