Segment Disclosures (Tables)

6 Months Ended

Jun. 30, 2011

Segment Disclosures [Abstract]

Revenues

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Revenues:
Homebuilding Mid Atlantic	$	404,253	$	560,105	$	717,193	$	899,574
Homebuilding North East		67,715		84,962		106,908		149,119
Homebuilding Mid East		143,381		194,736		241,533		319,725
Homebuilding South East		67,314		107,169		119,773		155,935
Mortgage Banking		13,218		17,532		24,978		30,365
Total Consolidated Revenues	$	695,881	$	964,504	$	1,210,385	$	1,554,718

Profit

Profit:
Homebuilding Mid Atlantic	$	45,327		$	77,058		$	71,203		$	114,918
Homebuilding North East		6,676			6,173			7,799			11,928
Homebuilding Mid East		8,722			21,382			10,329			32,316
Homebuilding South East		5,251			9,956			7,464			11,013
Mortgage Banking		7,041			12,537			13,782			19,965
Total Segment Profit		73,017			127,106			110,577			190,140
Contract land deposit impairment reserve (1)		(1,375	)		5,510			(2,505	)		7,518
Equity-based compensation expense (2)		(16,125	)		(15,148	)		(31,705	)		(20,826	)
Corporate capital allocation (3)		17,897			17,953			33,320			32,433
Unallocated corporate overhead (4)		(14,401	)		(16,290	)		(30,861	)		(36,969	)
Consolidation adjustments and other (5)		4,448			929			9,573			2,573
Corporate interest expense (6)		(107	)		(1,801	)		(210	)		(3,879	)
Reconciling items sub-total		(9,663	)		(8,847	)		(22,388	)		(19,150	)
Consolidated income before taxes	$	63,354		$	118,259		$	88,189		$	170,990

(1)	This item represents changes to the contract land deposit impairment reserve, which is not allocated to the reportable segments.
(2)	The year-to-date increase in equity-based compensation expense is due primarily to the issuance of non-qualified stock options and restricted share units from the 2010 Equity Incentive Plan in the second quarter of 2010.
(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 is as follows for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Homebuilding Mid Atlantic	$	12,105	$	11,869	$	22,936	$	21,664
Homebuilding North East		1,566		1,672		2,729		3,222
Homebuilding Mid East		2,840		2,661		5,044		4,737
Homebuilding South East		1,386		1,751		2,611		2,810
Total	$	17,897	$	17,953	$	33,320	$	32,433

(4)	The decrease in unallocated corporate overhead in the three and six month periods of 2011 is primarily attributable to a decrease in management incentive costs period over period.
(5)	The favorable variance in consolidation adjustments and other in 2011 from 2010 is primarily attributable to changes in the corporate consolidation entries based on production volumes in the respective quarters.
(6)	The decrease in corporate interest expense is attributable to the redemption upon maturity of the outstanding senior notes in the second quarter of 2010 and the termination of the working capital credit facility in the fourth quarter of 2010.

Assets

	June 30,			December 31,
	2011			2010
Assets:
Homebuilding Mid Atlantic	$	629,559		$	492,148
Homebuilding North East		50,141			35,827
Homebuilding Mid East		115,495			78,246
Homebuilding South East		48,494			43,041
Mortgage Banking		195,282			196,441
Total Segment Assets		1,038,971			845,703
Consolidated variable interest entity		23,022			22,371
Cash and cash equivalents		927,370			1,190,731
Deferred taxes		172,318			184,930
Intangible assets		48,927			48,927
Contract land deposit reserve		(68,122	)		(73,517	)
Consolidation adjustments and other		33,189			40,916
Reconciling items sub-total		1,136,704			1,414,358
Consolidated Assets	$	2,175,675		$	2,260,061

Corporate capital allocation charge

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Homebuilding Mid Atlantic	$	12,105	$	11,869	$	22,936	$	21,664
Homebuilding North East		1,566		1,672		2,729		3,222
Homebuilding Mid East		2,840		2,661		5,044		4,737
Homebuilding South East		1,386		1,751		2,611		2,810
Total	$	17,897	$	17,953	$	33,320	$	32,433