Schedule of Segment Information |
The following segment information is in thousands: | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2017 | | 2016 | | 2017 | | 2016 | Homebuilding revenue (1): | | | | | | | | West | $ | 369,574 |
| | $ | 332,643 |
| | $ | 681,378 |
| | $ | 593,689 |
| Central | 225,679 |
| | 208,701 |
| | 400,510 |
| | 370,590 |
| East | 206,725 |
| | 256,552 |
| | 392,862 |
| | 431,383 |
| Consolidated total | $ | 801,978 |
| | $ | 797,896 |
| | $ | 1,474,750 |
| | $ | 1,395,662 |
| Homebuilding segment operating income: | | | | | | | | West | $ | 35,131 |
| | $ | 27,495 |
| | $ | 59,143 |
| | $ | 43,558 |
| Central | 23,230 |
| | 19,784 |
| | 37,120 |
| | 33,678 |
| East | 5,285 |
| | 12,322 |
| | 7,721 |
| | 18,181 |
| Total homebuilding segment operating income | 63,646 |
| | 59,601 |
| | 103,984 |
| | 95,417 |
| Financial services segment profit | 5,557 |
| | 5,763 |
| | 9,847 |
| | 9,809 |
| Corporate and unallocated costs (2) | (7,028 | ) | | (6,774 | ) | | (15,545 | ) | | (14,589 | ) | Earnings/(loss) from other unconsolidated entities, net | 570 |
| | 573 |
| | 943 |
| | 416 |
| Interest expense | (1,620 | ) | | (1,672 | ) | | (2,445 | ) | | (4,960 | ) | Other income, net | 2,080 |
| | 1,545 |
| | 3,190 |
| | 1,828 |
| Net earnings before income taxes | $ | 63,205 |
| | $ | 59,036 |
| | $ | 99,974 |
| | $ | 87,921 |
|
| | (1) | Homebuilding revenue includes the following land closing revenue, by segment, as outlined in the table below. |
| | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2017 | | 2016 | | 2017 | | 2016 | Land closing revenue: | | | | | | | | West | $ | — |
| | $ | 65 |
| | $ | 11,800 |
| | $ | 65 |
| Central | — |
| | 1,794 |
| | 122 |
| | 3,712 |
| East | 4,198 |
| | 192 |
| | 4,431 |
| | 423 |
| Total | $ | 4,198 |
| | $ | 2,051 |
| | $ | 16,353 |
| | $ | 4,200 |
|
| | (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 services reporting segments. |
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Schedule of Segment Assets |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | At June 30, 2017 | | | West | | Central | | East | | Financial Services | | Corporate and Unallocated | | Total | Deposits on real estate under option or contract | | $ | 20,491 |
| | $ | 23,788 |
| | $ | 30,471 |
| | $ | — |
| | $ | — |
| | $ | 74,750 |
| Real estate | | 1,179,257 |
| | 671,392 |
| | 787,758 |
| | — |
| | — |
| | 2,638,407 |
| Investments in unconsolidated entities | | 7,708 |
| | 7,205 |
| | — |
| | — |
| | 1,765 |
| | 16,678 |
| Other assets | | 46,699 |
| (1) | 89,947 |
| (2) | 73,315 |
| (3) | 689 |
| | 260,207 |
| (4) | 470,857 |
| Total assets | | $ | 1,254,155 |
| | $ | 792,332 |
| | $ | 891,544 |
| | $ | 689 |
| | $ | 261,972 |
| | $ | 3,200,692 |
|
| | (1) | Balance consists primarily of cash, real estate not owned and property and equipment. |
| | (2) | Balance consists primarily of development reimbursements from local municipalities and cash. |
| | (3) | Balance consists primarily of goodwill (see Note 9) and prepaid permits and fees to local municipalities. |
| | (4) | Balance consists primarily of cash and our deferred tax asset. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | At December 31, 2016 | | | West | | Central | | East | | Financial Services | | Corporate and Unallocated | | Total | Deposits on real estate under option or contract | | $ | 25,863 |
| | $ | 27,669 |
| | $ | 32,024 |
| | $ | — |
| | $ | — |
| | $ | 85,556 |
| Real estate | | 1,120,038 |
| | 595,485 |
| | 706,540 |
| | — |
| | — |
| | 2,422,063 |
| Investments in unconsolidated entities | | 7,362 |
| | 7,450 |
| | — |
| | — |
| | 2,285 |
| | 17,097 |
| Other assets | | 45,624 |
| (1) | 94,299 |
| (2) | 93,245 |
| (3) | 812 |
| | 129,995 |
| (4) | 363,975 |
| Total assets | | $ | 1,198,887 |
| | $ | 724,903 |
| | $ | 831,809 |
| | $ | 812 |
| | $ | 132,280 |
| | $ | 2,888,691 |
|
| | (1) | Balance consists primarily of cash and property and equipment. |
| | (2) | Balance consists primarily of development reimbursements from local municipalities and cash. |
| | (3) | Balance consists primarily of goodwill (see Note 9), prepaid permits and fees to local municipalities and cash. |
| | (4) | Balance consists primarily of cash and our deferred tax asset. |
|