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Segment Information, Nature of Operations, and Certain Concentrations (Tables)
 12 Months Ended
Dec. 31, 2018
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,
 
 
2018
 
2017
 
2016
Revenues:
 
 
 
 
 
 
Homebuilding Mid Atlantic
 
$
3,893,358

 
$
3,543,687

 
$
3,319,776

Homebuilding North East
 
580,726

 
517,141

 
462,385

Homebuilding Mid East
 
1,455,834

 
1,250,165

 
1,192,472

Homebuilding South East
 
1,074,386

 
864,528

 
734,590

Mortgage Banking
 
159,370

 
130,319

 
113,321

Consolidated revenues
 
$
7,163,674

 
$
6,305,840

 
$
5,822,544
Profit before Taxes
 
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
Profit before taxes:
 
 
 
 
 
 
Homebuilding Mid Atlantic
 
$
462,178

 
$
398,494

 
$
301,173

Homebuilding North East
 
69,789

 
60,218

 
21,947

Homebuilding Mid East
 
175,134

 
149,639

 
121,166

Homebuilding South East
 
118,296

 
95,826

 
71,098

Mortgage Banking
 
93,462

 
73,959

 
63,711

Total segment profit
 
918,859

 
778,136

 
579,095

Reconciling items:
 
 
 
 
 
 
Contract land deposit reserve adjustment (1)
 
783

 
1,307

 
10,933

Equity-based compensation expense (2)
 
(75,701
)
 
(44,562
)
 
(43,598
)
Corporate capital allocation (3)
 
213,903

 
198,384

 
189,992

Unallocated corporate overhead
 
(89,973
)
 
(89,514
)
 
(89,376
)
Consolidation adjustments and other
 
15,829

 
26,143

 
35,204

Corporate interest expense
 
(23,968
)
 
(22,983
)
 
(20,553
)
Reconciling items sub-total
 
40,873

 
68,775

 
82,602

Consolidated profit before taxes
 
$
959,732

 
$
846,911

 
$
661,697



(1)
This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments.
(2)
The increase in equity-based compensation expense for the year ended December 31, 2018 was primarily attributable to the issuance of Options and RSUs in the second quarter of 2018. See Note 12 for additional discussion of equity-based compensation.
(3)
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:
Assets
 
 
As of December 31,
 
 
2018
 
2017
Assets:
 
 
 
 
Homebuilding Mid Atlantic
 
$
1,018,953

 
$
1,079,225

Homebuilding North East
 
144,412

 
143,008

Homebuilding Mid East
 
290,815

 
263,019

Homebuilding South East
 
332,468

 
277,705

Mortgage Banking
 
517,075

 
397,052

Total segment assets
 
2,303,723

 
2,160,009

Reconciling items:
 
 
 
 
Cash and cash equivalents
 
688,783

 
645,087

Deferred taxes
 
112,333

 
111,953

Intangible assets and goodwill
 
49,989

 
50,144

Contract land deposit reserve
 
(29,216
)
 
(29,999
)
Consolidation adjustments and other
 
40,321

 
52,085

Reconciling items sub-total
 
862,210

 
829,270

Consolidated assets
 
$
3,165,933

 
$
2,989,279
Interest Income
 
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
Interest income:
 
 
 
 
 
 
Mortgage Banking
 
$
11,593

 
$
7,850

 
$
7,569

Total segment interest income
 
11,593

 
7,850

 
7,569

Other unallocated interest income
 
8,588

 
4,554

 
1,111

Consolidated interest income
 
$
20,181

 
$
12,404

 
$
8,680
Interest Expense
 
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
Interest expense:
 
 
 
 
 
 
Homebuilding Mid Atlantic
 
$
123,908

 
$
123,075

 
$
119,808

Homebuilding North East
 
17,897

 
16,117

 
18,141

Homebuilding Mid East
 
35,804

 
29,663

 
28,307

Homebuilding South East
 
36,362

 
29,583

 
23,804

Mortgage Banking
 
1,045

 
1,148

 
1,086

Total segment interest expense
 
215,016

 
199,586

 
191,146

Corporate capital allocation (3)
 
(213,903
)
 
(198,384
)
 
(189,992
)
Senior Notes and other interest
 
23,968

 
22,983

 
20,553

Consolidated interest expense
 
$
25,081

 
$
24,185

 
$
21,707
Depreciation and Amortization
 
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
Depreciation and amortization:
 
 
 
 
 
 
Homebuilding Mid Atlantic
 
$
7,753

 
$
8,095

 
$
8,089

Homebuilding North East
 
1,600

 
2,034

 
2,053

Homebuilding Mid East
 
3,481

 
3,590

 
3,748

Homebuilding South East
 
2,523

 
2,531

 
2,276

Mortgage Banking
 
1,489

 
1,297

 
1,117

Total segment depreciation and amortization
 
16,846

 
17,547

 
17,283

Unallocated corporate
 
3,322

 
5,120

 
4,986

Consolidated depreciation and amortization
 
$
20,168

 
$
22,667

 
$
22,269
Expenditures for Property and Equipment
 
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
Expenditures for property and equipment:
 
 
 
 
 
 
Homebuilding Mid Atlantic
 
$
6,657

 
$
9,257

 
$
8,838

Homebuilding North East
 
1,074

 
1,299

 
3,423

Homebuilding Mid East
 
4,302

 
3,117

 
4,027

Homebuilding South East
 
2,732

 
3,313

 
3,594

Mortgage Banking
 
1,677

 
2,723

 
726

Total segment expenditures for property and equipment
 
16,442

 
19,709

 
20,608

Unallocated corporate
 
3,223

 
560

 
1,761

Consolidated expenditures for property and equipment
 
$
19,665

 
$
20,269

 
$
22,369
Corporate Capital Allocation Charge
 
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
Corporate capital allocation charge:
 
 

 
 
 
 
Homebuilding Mid Atlantic
 
$
123,855

 
$
123,028

 
$
119,758

Homebuilding North East
 
17,893

 
16,115

 
18,132

Homebuilding Mid East
 
35,803

 
29,663

 
28,303

Homebuilding South East
 
36,352

 
29,578

 
23,799

Total corporate capital allocation charge
 
$
213,903

 
$
198,384

 
$
189,992