Segment Disclosures (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Revenues

The following tables present segment revenues, profit and assets with reconciliations to the amounts reported for the consolidated enterprise, where applicable:

	Three Months Ended March 31,
	2018		2017
Revenues:
Homebuilding Mid Atlantic	$	842,496	$	722,268
Homebuilding North East	122,714		106,231
Homebuilding Mid East	290,237		243,031
Homebuilding South East	234,646		176,057
Mortgage Banking	39,321		29,505
Total consolidated revenues	$	1,529,414	$	1,277,092

Profit before Taxes

	Three Months Ended March 31,
	2018			2017
Income before taxes:
Homebuilding Mid Atlantic	$	91,047		$	64,489
Homebuilding North East	15,704			9,106
Homebuilding Mid East	27,211			22,159
Homebuilding South East	23,237			14,569
Mortgage Banking	22,550			15,953
Total segment profit before taxes	179,749			126,276
Reconciling items:
Contract land deposit reserve adjustment (1)	2,128			(728		)
Equity-based compensation expense	(9,509		)	(10,589		)
Corporate capital allocation (2)	50,700			46,187
Unallocated corporate overhead	(31,284		)	(27,234		)
Consolidation adjustments and other	5,201			3,813
Corporate interest expense	(5,987		)	(5,564		)
Reconciling items sub-total	11,249			5,885
Consolidated income before taxes	$	190,998		$	132,161

(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 periods presented:

	Three Months Ended March 31,
	2018		2017
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	30,449	$	29,124
Homebuilding North East	4,180		3,814
Homebuilding Mid East	7,973		6,742
Homebuilding South East	8,098		6,507
Total	$	50,700	$	46,187

Assets

	March 31, 2018			December 31, 2017
Assets:
Homebuilding Mid Atlantic	$	1,119,218		$	1,079,225
Homebuilding North East	152,835			143,008
Homebuilding Mid East	288,846			263,019
Homebuilding South East	288,344			277,705
Mortgage Banking	387,296			397,052
Total segment assets	2,236,539			2,160,009
Reconciling items:
Cash and cash equivalents	414,763			645,087
Deferred taxes	113,462			111,953
Intangible assets and goodwill	50,105			50,144
Contract land deposit reserve	(27,871		)	(29,999		)
Consolidation adjustments and other	59,067			52,085
Reconciling items sub-total	609,526			829,270
Consolidated assets	$	2,846,065		$	2,989,279

Corporate Capital Allocation Charge

The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the periods presented:

	Three Months Ended March 31,
	2018		2017
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	30,449	$	29,124
Homebuilding North East	4,180		3,814
Homebuilding Mid East	7,973		6,742
Homebuilding South East	8,098		6,507
Total	$	50,700	$	46,187