Schedule of Segment Information |
The following segment information is in thousands: | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2016 | | 2015 | | 2016 | | 2015 | Homebuilding revenue (1): | | | | | | | | West | $ | 330,805 |
| | $ | 270,202 |
| | $ | 924,494 |
| | $ | 696,854 |
| Central | 200,446 |
| | 191,132 |
| | 571,036 |
| | 524,633 |
| East | 221,606 |
| | 208,622 |
| | 652,989 |
| | 564,982 |
| Consolidated total | $ | 752,857 |
| | $ | 669,956 |
| | $ | 2,148,519 |
| | $ | 1,786,469 |
| Homebuilding segment operating income: | | | | | | | | West | $ | 27,829 |
| | $ | 24,347 |
| | $ | 71,387 |
| | $ | 53,800 |
| Central | 18,635 |
| | 19,524 |
| | 52,313 |
| | 54,682 |
| East | 9,737 |
| | 13,849 |
| | 27,918 |
| | 35,427 |
| Total homebuilding segment operating income | 56,201 |
| | 57,720 |
| | 151,618 |
| | 143,909 |
| Financial services segment profit | 5,956 |
| | 5,601 |
| | 15,765 |
| | 13,517 |
| Corporate and unallocated costs (2) | (10,063 | ) | | (8,347 | ) | | (24,652 | ) | | (28,225 | ) | Earnings/(loss) from other unconsolidated entities, net | 440 |
| | (123 | ) | | 856 |
| | (415 | ) | Interest expense | (167 | ) | | (4,187 | ) | | (5,127 | ) | | (11,962 | ) | Other income, net | 1,435 |
| | (3,996 | ) | | 3,263 |
| | (3,445 | ) | Net earnings before income taxes | $ | 53,802 |
| | $ | 46,668 |
| | $ | 141,723 |
| | $ | 113,379 |
|
| | (1) | Homebuilding revenue includes the following land closing revenue, by segment, as outlined in the table below. |
| | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2016 | | 2015 | | 2016 | | 2015 | Land closing revenue: | | | | | | | | West | $ | 15,543 |
| | $ | — |
| | $ | 15,608 |
| | $ | — |
| Central | 947 |
| | 7,677 |
| | 4,659 |
| | 14,194 |
| East | 497 |
| | 395 |
| | 920 |
| | 2,091 |
| Total | $ | 16,987 |
| | $ | 8,072 |
| | $ | 21,187 |
| | $ | 16,285 |
|
| | (2) | Balance consists primarily of corporate costs and numerous shared service functions such as finance and treasury that are not allocated to the homebuilding or financial reporting segments. |
|
Schedule of Segment Assets |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | At September 30, 2016 | | | West | | Central | | East | | Financial Services | | Corporate and Unallocated | | Total | Deposits on real estate under option or contract | | $ | 26,027 |
| | $ | 29,757 |
| | $ | 35,269 |
| | $ | — |
| | $ | — |
| | $ | 91,053 |
| Real estate | | 1,145,566 |
| | 590,472 |
| | 692,976 |
| | — |
| | — |
| | 2,429,014 |
| Investments in unconsolidated entities | | 382 |
| | 9,623 |
| | — |
| | — |
| | 1,826 |
| | 11,831 |
| Other assets | | 59,158 |
| | 87,842 |
| (1) | 76,465 |
| (2) | 847 |
| | 116,945 |
| (3) | 341,257 |
| Total assets | | $ | 1,231,133 |
| | $ | 717,694 |
| | $ | 804,710 |
| | $ | 847 |
| | $ | 118,771 |
| | $ | 2,873,155 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | At December 31, 2015 | | | West | | Central | | East | | Financial Services | | Corporate and Unallocated | | Total | Deposits on real estate under option or contract | | $ | 28,488 |
| | $ | 30,241 |
| | $ | 29,110 |
| | $ | — |
| | $ | — |
| | $ | 87,839 |
| Real estate | | 1,008,457 |
| | 505,954 |
| | 583,891 |
| | — |
| | — |
| | 2,098,302 |
| Investments in unconsolidated entities | | 204 |
| | 8,704 |
| | — |
| | — |
| | 2,462 |
| | 11,370 |
| Other assets | | 55,112 |
| | 87,313 |
| (1) | 77,548 |
| (2) | 898 |
| | 261,395 |
| (3) | 482,266 |
| Total assets | | $ | 1,092,261 |
| | $ | 632,212 |
| | $ | 690,549 |
| | $ | 898 |
| | $ | 263,857 |
| | $ | 2,679,777 |
|
| | (1) | Balance consists primarily of development reimbursements from local municipalities and cash. |
| | (2) | Balance consists primarily of goodwill (see Note 9), prepaid permits and fees to local municipalities and cash. |
| | (3) | Balance consists primarily of cash and our deferred tax assets. |
|