Segment Information, Nature of Operations, and Certain Concentrations (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Revenues

Following are tables presenting segment revenues, profit before taxes, assets, interest income, interest expense, depreciation and amortization and expenditures for property and equipment, with reconciliations to the amounts reported for the consolidated enterprise, where applicable:

	Year Ended December 31,
	2017		2016		2015
Revenues:
Homebuilding Mid Atlantic	$	3,543,687	$	3,319,776	$	3,022,789
Homebuilding North East	517,141		462,385		432,145
Homebuilding Mid East	1,250,165		1,192,472		1,014,920
Homebuilding South East	864,528		734,590		595,346
Mortgage Banking	130,319		113,321		93,808
Consolidated revenues	$	6,305,840	$	5,822,544	$	5,159,008

Profit before Taxes

(1) This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments.

(2) This item represents the elimination of the corporate capital allocation charge included in the respective homebuilding reportable segments. The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the years presented:

	Year Ended December 31,
	2017		2016		2015
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	123,028	$	119,758	$	107,705
Homebuilding North East	16,115		18,132		16,987
Homebuilding Mid East	29,663		28,303		27,263
Homebuilding South East	29,578		23,799		19,215
Total corporate capital allocation charge	$	198,384	$	189,992	$	171,170

	Year Ended December 31,
	2017			2016			2015
Profit before taxes:
Homebuilding Mid Atlantic	$	398,494		$	301,173		$	322,829
Homebuilding North East	60,218			21,947			37,914
Homebuilding Mid East	149,639			121,166			86,336
Homebuilding South East	95,826			71,098			57,384
Mortgage Banking	73,959			63,711			51,236
Total segment profit	778,136			579,095			555,699
Reconciling items:
Contract land deposit reserve adjustment (1)	1,307			10,933			13,805
Equity-based compensation expense	(44,562		)	(43,598		)	(54,091		)
Corporate capital allocation (2)	198,384			189,992			171,170
Unallocated corporate overhead	(89,514		)	(89,376		)	(83,124		)
Consolidation adjustments and other	26,143			35,204			22,622
Corporate interest expense	(22,983		)	(20,553		)	(22,869		)
Reconciling items sub-total	68,775			82,602			47,513
Consolidated profit before taxes	$	846,911		$	661,697		$	603,212

Assets

	As of December 31,
	2017			2016
Assets:
Homebuilding Mid Atlantic	$	1,079,225		$	1,054,779
Homebuilding North East	143,008			126,720
Homebuilding Mid East	263,019			222,736
Homebuilding South East	277,705			214,225
Mortgage Banking	397,052			403,250
Total segment assets	2,160,009			2,021,710
Reconciling items:
Cash and cash equivalents	645,087			375,748
Deferred taxes	111,953			170,652
Intangible assets and goodwill	50,144			51,526
Contract land deposit reserve	(29,999		)	(31,306		)
Consolidation adjustments and other	52,085			55,613
Reconciling items sub-total	829,270			622,233
Consolidated assets	$	2,989,279		$	2,643,943

Interest Income

	Year Ended December 31,
	2017		2016		2015
Interest income:
Mortgage Banking	$	7,850	$	7,569	$	6,485
Total segment interest income	7,850		7,569		6,485
Other unallocated interest income	4,554		1,111		1,211
Consolidated interest income	$	12,404	$	8,680	$	7,696

Interest Expense

	Year Ended December 31,
	2017			2016			2015
Interest expense:
Homebuilding Mid Atlantic	$	123,075		$	119,808		$	107,748
Homebuilding North East	16,117			18,141			16,991
Homebuilding Mid East	29,663			28,307			27,263
Homebuilding South East	29,583			23,804			19,217
Mortgage Banking	1,148			1,086			641
Total segment interest expense	199,586			191,146			171,860
Corporate capital allocation (2)	(198,384		)	(189,992		)	(171,170		)
Senior Notes and other interest	22,983			20,553			22,869
Consolidated interest expense	$	24,185		$	21,707		$	23,559

Depreciation and Amortization

	Year Ended December 31,
	2017		2016		2015
Depreciation and amortization:
Homebuilding Mid Atlantic	$	8,095	$	8,089	$	7,876
Homebuilding North East	2,034		2,053		1,571
Homebuilding Mid East	3,590		3,748		4,003
Homebuilding South East	2,531		2,276		2,191
Mortgage Banking	1,297		1,117		1,136
Total segment depreciation and amortization	17,547		17,283		16,777
Unallocated corporate	5,120		4,986		4,757
Consolidated depreciation and amortization	$	22,667	$	22,269	$	21,534

Expenditures for Property and Equipment

	Year Ended December 31,
	2017		2016		2015
Expenditures for property and equipment:
Homebuilding Mid Atlantic	$	9,257	$	8,838	$	8,287
Homebuilding North East	1,299		3,423		2,220
Homebuilding Mid East	3,117		4,027		3,774
Homebuilding South East	3,313		3,594		1,753
Mortgage Banking	2,723		726		265
Total segment expenditures for property and equipment	19,709		20,608		16,299
Unallocated corporate	560		1,761		1,978
Consolidated expenditures for property and equipment	$	20,269	$	22,369	$	18,277

Corporate Capital Allocation Charge

	Year Ended December 31,
	2017		2016		2015
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	123,028	$	119,758	$	107,705
Homebuilding North East	16,115		18,132		16,987
Homebuilding Mid East	29,663		28,303		27,263
Homebuilding South East	29,578		23,799		19,215
Total corporate capital allocation charge	$	198,384	$	189,992	$	171,170