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Segment Information
3 Months Ended
Mar. 31, 2023
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, Pennsylvania, Virginia
Southeast:Georgia, North Carolina, South Carolina, Tennessee
Florida:Florida
Midwest:Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio
Texas:Texas
West:Arizona, California, Colorado, Nevada, New Mexico, Washington

We also have a reportable segment for our Financial Services operations, which consist principally of mortgage banking, title, and insurance brokerage operations that operate generally in the same markets as the Homebuilding segments.

Operating Data by Segment
($000’s omitted)
 Three Months Ended
March 31,
 20232022
Revenues (a):
Northeast$220,648 $162,327 
Southeast630,301 523,238 
Florida1,077,113 759,301 
Midwest393,870 447,902 
Texas486,393 438,854 
West709,378 733,754 
3,517,703 3,065,376 
Financial Services57,938 84,143 
Consolidated revenues$3,575,641 $3,149,519 
Operating Data by Segment
($000’s omitted)
 Three Months Ended
March 31,
 20232022
Income (loss) before income taxes:
Northeast$46,797 $27,399 
Southeast145,303 126,132 
Florida270,737 160,694 
Midwest58,904 64,743 
Texas80,065 83,716 
West99,577 133,269 
Other homebuilding (b)
(13,163)(36,653)
688,220 559,300 
Financial Services13,902 40,593 
Consolidated income before income taxes$702,122 $599,893 

(a)All periods reflect the reclassification of closing cost incentives to homes sale revenues from home sale cost of revenues (Note 1).
(b)Other homebuilding includes the amortization of intangible assets and capitalized interest and other items not allocated to the other segments.

Operating Data by Segment
($000’s omitted)
Three Months Ended
March 31,
20232022
Land-related charges (a):
Northeast$25 $102 
Southeast2,359 1,902 
Florida2,013 972 
Midwest430 158 
Texas115 239 
West741 137 
$5,683 $3,510 

(a)    Land-related charges include land impairments, net realizable value adjustments on land held for sale, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue.
 Operating Data by Segment
($000's omitted)
March 31, 2023
 Homes Under
Construction
Land Under
Development
Raw LandConsolidated Inventory Not OwnedTotal
Inventory
Total
Assets
Northeast$319,080 $306,062 $31,522 $— $656,664 $756,249 
Southeast797,089 602,197 91,923 18,908 1,510,117 1,739,218 
Florida (a)
1,481,876 1,072,349 126,088 61,500 2,741,813 3,246,605 
Midwest531,030 693,174 22,688 3,355 1,250,247 1,405,271 
Texas627,912 738,216 146,116 3,087 1,515,331 1,684,466 
West1,566,719 1,679,259 217,569 — 3,463,547 3,742,043 
Other homebuilding (b)
27,406 255,430 11,322 — 294,158 1,672,336 
5,351,112 5,346,687 647,228 86,850 11,431,877 14,246,188 
Financial Services— — — — — 584,854 
$5,351,112 $5,346,687 $647,228 $86,850 $11,431,877 $14,831,042 
 December 31, 2022
 Homes Under
Construction
Land Under
Development
Raw LandConsolidated Inventory Not OwnedTotal
Inventory
Total
Assets
Northeast$321,687 $241,897 $45,455 $— $609,039 $700,413 
Southeast793,539 544,867 102,336 20,169 1,460,911 1,668,053 
Florida (a)
1,417,657 1,081,836 125,253 51,889 2,676,635 3,195,091 
Midwest523,194 689,541 22,467 — 1,235,202 1,382,227 
Texas690,622 726,342 133,300 — 1,550,264 1,735,683 
West1,662,251 1,528,863 238,758 — 3,429,872 3,771,808 
Other homebuilding (b)
31,236 321,086 11,772 — 364,094 1,470,919 
5,440,186 5,134,432 679,341 72,058 11,326,017 13,924,194 
Financial Services— — — — — 872,321 
$5,440,186 $5,134,432 $679,341 $72,058 $11,326,017 $14,796,515 
 
(a)Florida includes goodwill of $28.6 million, net of a goodwill impairment charge of $20.2 million during 2020.
(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. Other homebuilding also includes goodwill of $40.4 million.