Segment Information

6 Months Ended

Jun. 30, 2013

Segment Information

Segment Information

Note 5.  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 14 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”) 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)	2013			2012		2013			2012
REVENUES
Homebuilding
North	$	147,818		$	86,010	$	243,500		$	148,058
Southeast	130,608			78,379		235,827			135,021
Texas	100,213			78,754		177,550			141,873
West	99,352			41,450		184,615			69,176
Financial services	15,004			9,176		26,183			15,510
Total	$	492,995		$	293,769	$	867,675		$	509,638
EARNINGS (LOSS) BEFORE TAXES
Homebuilding
North	$	12,768		$	1,796	$	16,151		$	174
Southeast	12,017			2,497		19,357			3,388
Texas	8,794			4,784		13,844			8,309
West	10,232			838		18,223			(888		)
Financial services	7,626			2,944		11,947			3,589
Corporate and unallocated	(7,158		)	(6,620)		(13,040		)	(11,354		)
Total	$	44,279		$	6,239	$	66,482		$	3,218