Segment Information (Tables)

12 Months Ended

Sep. 30, 2014

The accounting policies of the reporting segments are described throughout Note A. Financial information relating to the Company's reporting segments is as follows:



	Year Ended September 30,
	2014			2013		2012
				(In millions)
Revenues
Homebuilding revenues:
East	$	954.7		$	686.3	$	542.4
Midwest	483.5			471.5		339.3
Southeast	2,167.0			1,520.7		934.6
South Central	1,971.2			1,526.2		1,158.4
Southwest	285.2			327.7		270.7
West	1,996.9			1,553.5		990.8
Homebuilding revenues	7,858.5			6,085.9		4,236.2
Financial services revenues	166.4			173.4		117.8
Total revenues	$	8,024.9		$	6,259.3	$	4,354.0
Inventory Impairments
East	$	17.7		$	0.1	$	1.0
Midwest	49.3			—		—
Southeast	3.1			—		1.6
South Central	—			1.0		0.1
Southwest	—			—		0.5
West	5.1			20.2		—
Total inventory impairments	$	75.2		$	21.3	$	3.2
Income (Loss) Before Income Taxes (1)
Homebuilding pre-tax income (loss):
East	$	45.2		$	48.3	$	16.0
Midwest	(9.5		)	38.9		1.1
Southeast	218.0			148.4		38.0
South Central	208.0			149.0		80.6
Southwest	25.5			26.3		16.8
West	281.6			181.4		51.2
Homebuilding pre-tax income	768.8			592.3		203.7
Financial services pre-tax income	45.4			65.5		39.2
Income before income taxes	$	814.2		$	657.8	$	242.9

____________

(1)

Expenses maintained at the corporate level consist primarily of interest and property taxes, which are capitalized and amortized to cost of sales or expensed directly, and the expenses related to operating the Company’s corporate office. The amortization of capitalized interest and property taxes is allocated to each segment based on the segment’s revenue, while those expenses associated with the corporate office are allocated to each segment based on the segment’s inventory balances.



	September 30,
	2014		2013
	(In millions)
Homebuilding Inventories (1):
East	$	842.7	$	742.9
Midwest	477.6		412.2
Southeast	1,943.0		1,508.5
South Central	1,742.5		1,443.6
Southwest	292.9		262.4
West	2,169.4		1,668.2
Corporate and unallocated (2)	232.4		159.6
Total homebuilding inventories	$	7,700.5	$	6,197.4

____________


(1)	Homebuilding inventories are the only assets included in the measure of homebuilding segment assets used by the Company’s chief operating decision makers.


(2)	Corporate and unallocated consists primarily of capitalized interest and property taxes.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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