Segment Information

6 Months Ended

Jun. 30, 2012

Segment Information

Segment Information

Note 4.  Segment Information

The Company is a leading national homebuilder and provider of mortgage-related financial services. As one of the largest single-family on-site homebuilders in the United States, it operates in 13 states across the country. The Company consists of six segments: four geographically-determined homebuilding regions (North, Southeast, Texas and West); financial services; and corporate. The homebuilding segments specialize in the sale and construction of single-family attached and detached housing. The Company’s financial services segment, which includes RMC, RH Insurance Company, Inc. (“RHIC”), LPS Holdings Corporation and its subsidiaries (“LPS”), and Columbia National Risk Retention Group, Inc. (“CNRRG”), provides mortgage-related products and services, as well as title, escrow and insurance services, to its homebuyers. Corporate is a nonoperating business segment with the sole purpose of supporting operations. In order to best reflect the Company’s financial position and results of operations, certain corporate expenses are allocated to the homebuilding and financial services segments, along with certain assets and liabilities relating to employee benefit plans.

The Company evaluates performance and allocates resources based on a number of factors, including segment pretax earnings and risk. The accounting policies of the segments are the same as those described in Note 1, “Consolidated Financial Statements.”

	THREE MONTHS ENDED						SIX MONTHS ENDED
	JUNE 30,						JUNE 30,
(in thousands)	2012			2011			2012			2011
REVENUES
Homebuilding
North	$	86,010		$	75,092		$	148,058		$	130,534
Southeast	78,379			46,700			135,021			90,838
Texas	78,754			68,143			141,873			114,528
West	41,450			14,990			69,176			30,453
Financial services	9,176			6,923			15,510			13,167
Total	$	293,769		$	211,848		$	509,638		$	379,520
EARNINGS (LOSS) BEFORE TAXES
Homebuilding
North	$	1,796		$	(4,737	)	$	174		$	(10,225	)
Southeast	2,497			(4,215		)	3,388			(12,626		)
Texas	4,784			3,438			8,309			1,777
West	838			(1,871		)	(888		)	(3,678		)
Financial services	2,944			2,064			3,589			3,273
Corporate and unallocated	(6,620		)	(4,480		)	(11,354		)	(8,159		)
Total	$	6,239		$	(9,801	)	$	3,218		$	(29,638	)