Segment Information

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Information

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 17 states across the country. In accordance with Accounting Standards Codification (“ASC”) No. 280 (“ASC 280”), “Segment Reporting,” the Company has identified six reportable 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 includes RMCMC and Ryland Mortgage Company, collectively referred to as “RMC”; RH Insurance Company, Inc. (“RHIC”); and Columbia National Risk Retention Group, Inc. (“CNRRG”). The financial services segment provides mortgage-related products and services, as well as title and escrow 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 condition and results of operations, certain corporate expenses, along with certain assets and liabilities relating to employee benefit plans, are allocated to the homebuilding and financial services segments.

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.”

The following table provides the Company’s total revenues and earnings (loss) before taxes by segment for the three- and six- month periods presented:

	THREE MONTHS ENDED   JUNE 30,						SIX MONTHS ENDED   JUNE 30,
(in thousands)	2015			2014			2015			2014
REVENUES
Homebuilding
North	$	178,477		$	154,111		$	314,131		$	287,675
Southeast	166,042			140,791			302,591			267,458
Texas	127,610			125,138			243,058			236,289
West	164,917			146,204			282,265			256,307
Financial services	16,589			11,145			28,989			19,343
Total	$	653,635		$	577,389		$	1,171,034		$	1,067,072
EARNINGS (LOSS) BEFORE TAXES
Homebuilding
North	$	17,755		$	14,954		$	29,294		$	25,748
Southeast	19,856			17,263			32,499			32,120
Texas	8,791			9,576			15,520			17,423
West	21,454			18,145			34,641			30,873
Financial services	8,777			(1,909		)	13,899			(3,320		)
Corporate and unallocated	(10,089		)	(5,826		)	(17,968		)	(12,471		)
Total	$	66,544		$	52,203		$	107,885		$	90,373

The following table provides the Company’s total assets by segment:

	JUNE 30, 2015
(in thousands)	HOUSING INVENTORIES		OTHER ASSETS		TOTAL ASSETS
Homebuilding
North	$	645,227	$	61,930	$	707,157
Southeast	592,004		35,078		627,082
Texas	354,853		49,704		404,557
West	684,733		40,821		725,554
Financial services	—		174,377		174,377
Corporate and unallocated	—		383,019		383,019
Total	$	2,276,817	$	744,929	$	3,021,746
Homebuilding	DECEMBER 31, 2014
North	$	589,427	$	47,742	$	637,169
Southeast	518,691		36,994		555,685
Texas	347,178		43,042		390,220
West	590,527		41,198		631,725
Financial services	—		194,258		194,258
Corporate and unallocated	—		643,032		643,032
Total	$	2,045,823	$	1,006,266	$	3,052,089