Segment Disclosures (Tables)

3 Months Ended

Mar. 31, 2019

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,
	2019		2018
Revenues:
Homebuilding Mid Atlantic	$	881,324	$	842,496
Homebuilding North East	122,627		122,714
Homebuilding Mid East	338,549		290,237
Homebuilding South East	300,706		234,646
Mortgage Banking	43,805		39,321
Total consolidated revenues	$	1,687,011	$	1,529,414

Profit before Taxes

	Three Months Ended March 31,
	2019			2018
Income before taxes:
Homebuilding Mid Atlantic	$	99,364		$	91,047
Homebuilding North East	11,460			15,704
Homebuilding Mid East	35,475			27,211
Homebuilding South East	35,036			23,237
Mortgage Banking	29,558			22,550
Total segment profit before taxes	210,893			179,749
Reconciling items:
Contract land deposit reserve adjustment (1)	950			2,128
Equity-based compensation expense (2)	(19,333		)	(9,509		)
Corporate capital allocation (3)	54,559			50,700
Unallocated corporate overhead	(31,735		)	(31,284		)
Consolidation adjustments and other	9,247			5,201
Corporate interest expense	(5,974		)	(5,987		)
Reconciling items sub-total	7,714			11,249
Consolidated income before taxes	$	218,607		$	190,998

(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 three month period ended March 31, 2019 was primarily attributable to the equity grant in the second quarter of 2018.

(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 periods presented:

	Three Months Ended March 31,
	2019		2018
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	30,417	$	30,449
Homebuilding North East	4,727		4,180
Homebuilding Mid East	9,015		7,973
Homebuilding South East	10,400		8,098
Total	$	54,559	$	50,700

Assets

	March 31, 2019			December 31, 2018
Assets:
Homebuilding Mid Atlantic	$	1,043,004		$	1,018,953
Homebuilding North East	146,750			144,412
Homebuilding Mid East	294,293			290,815
Homebuilding South East	333,075			332,468
Mortgage Banking	487,148			517,075
Total segment assets	2,304,270			2,303,723
Reconciling items:
Cash and cash equivalents	805,195			688,783
Deferred taxes	115,160			112,333
Intangible assets and goodwill	49,950			49,989
Operating lease right-of-use assets	65,519			—
Contract land deposit reserve	(28,266		)	(29,216		)
Consolidation adjustments and other	50,943			40,321
Reconciling items sub-total	1,058,501			862,210
Consolidated assets	$	3,362,771		$	3,165,933