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

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Revenues

	Year Ended December 31,
	2013		2012		2011
Revenues:
Homebuilding Mid Atlantic	$	2,439,387	$	1,877,905	$	1,582,826
Homebuilding North East		332,681		278,715		221,146
Homebuilding Mid East		908,198		630,367		549,384
Homebuilding South East		454,215		334,257		257,839
Mortgage Banking		76,786		63,406		47,954
Total consolidated revenues	$	4,211,267	$	3,184,650	$	2,659,149

Profit

	Year Ended December 31,
	2013			2012			2011
Profit:
Homebuilding Mid Atlantic	$	276,399		$	189,089		$	148,373
Homebuilding North East		14,294			21,529			13,463
Homebuilding Mid East		55,537			39,847			27,194
Homebuilding South East		35,001			20,674			14,162
Mortgage Banking		42,075			38,135			26,102
Total segment profit		423,306			309,274			229,294
Contract land deposit reserve adjustment (1)		5,313			5,333			(2,878	)
Equity-based compensation expense (2)		(34,296	)		(64,841	)		(64,473	)
Corporate capital allocation (3)		116,457			91,507			71,226
Unallocated corporate overhead (4)		(72,703	)		(70,258	)		(45,355	)
Consolidation adjustments and other		2,362			10,858			20,477
Corporate interest expense (5)		(21,743	)		(6,796	)		(715	)
Reconciling items sub-total		(4,610	)		(34,197	)		(21,718	)
Consolidated income before taxes	$	418,696		$	275,077		$	207,576

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

(2) Equity-based compensation expense is lower in 2013 due to RSUs issued in 2010 under the 2010 Equity Incentive Plan becoming fully vested effective December 31, 2012 and an approximate $7,900 pre-tax compensation expense reversal attributable to an adjustment of the option forfeiture rates based on the Company’s actual forfeiture experience. These reductions were partially offset by equity-based compensation expense incurred in 2013 related to RSUs issued in May 2013 under the 2010 Equity Incentive Plan.

(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:

	Year Ended December 31,
	2013		2012		2011
Homebuilding Mid Atlantic	$	72,271	$	59,144	$	48,697
Homebuilding North East		9,461		8,187		5,763
Homebuilding Mid East		22,580		15,039		11,074
Homebuilding South East		12,145		9,137		5,692
Total	$	116,457	$	91,507	$	71,226

(4) The increase in unallocated corporate overhead in 2012 from 2011 was attributable to increased management incentive costs year over year.

(5) Corporate interest expense is attributable primarily to interest on the Senior Notes which were issued in the third quarter of 2012.

Assets

	As of December 31,
	2013			2012
Assets:
Homebuilding Mid Atlantic	$	797,642		$	726,335
Homebuilding North East		84,958			64,568
Homebuilding Mid East		172,167			166,859
Homebuilding South East		106,389			85,521
Mortgage Banking		253,421			215,225
Total segment assets		1,414,577			1,258,508
Consolidated variable interest entity		7,268			15,626
Cash and cash equivalents		844,274			1,139,103
Deferred taxes		162,378			145,618
Intangible assets and goodwill		55,674			58,146
Contract land deposit reserve		(59,761	)		(65,039	)
Consolidation adjustments and other		61,738			52,880
Reconciling items sub-total		1,071,571			1,346,334
Consolidated assets	$	2,486,148		$	2,604,842

Interest Income

	Year Ended December 31,
	2013		2012		2011
Interest Income:
Mortgage Banking	$	4,983	$	4,504	$	5,702
Total segment interest income		4,983		4,504		5,702
Other unallocated interest income		2,319		1,388		3,202
Consolidated interest income	$	7,302	$	5,892	$	8,904

Interest Expense

	Year Ended December 31,
	2013			2012			2011
Interest Expense:
Homebuilding Mid Atlantic	$	72,351		$	59,310		$	48,971
Homebuilding North East		9,466			8,196			5,776
Homebuilding Mid East		22,587			15,043			11,080
Homebuilding South East		12,151			9,145			5,701
Mortgage Banking		545			546			875
Total segment interest expense		117,100			92,240			72,403
Corporate capital allocation		(116,457	)		(91,507	)		(71,226	)
Senior notes and other interest		21,742			6,796			715
Consolidated interest expense	$	22,385		$	7,529		$	1,892

Depreciation and Amortization

Depreciation and Amortization:
Homebuilding Mid Atlantic	$	4,784	$	3,886	$	3,353
Homebuilding North East		853		631		409
Homebuilding Mid East		1,911		1,473		1,398
Homebuilding South East		1,008		808		729
Mortgage Banking		669		397		295
Total segment depreciation and amortization		9,225		7,195		6,184
Unallocated corporate		4,166		905		488
Consolidated depreciation and amortization	$	13,391	$	8,100	$	6,672

Expenditures for Property and Equipment

Expenditures for Property and Equipment:
Homebuilding Mid Atlantic	$	7,947	$	3,595	$	3,784
Homebuilding North East		1,454		1,703		424
Homebuilding Mid East		3,282		1,886		5,611
Homebuilding South East		2,662		1,260		369
Mortgage Banking		2,933		1,169		1,049
Total segment expenditures for property and equipment		18,278		9,613		11,237
Unallocated corporate		738		2,752		207
Consolidated expenditures for property and equipment	$	19,016	$	12,365	$	11,444

Corporate Capital Allocation Charge

	Year Ended December 31,
	2013		2012		2011
Homebuilding Mid Atlantic	$	72,271	$	59,144	$	48,697
Homebuilding North East		9,461		8,187		5,763
Homebuilding Mid East		22,580		15,039		11,074
Homebuilding South East		12,145		9,137		5,692
Total	$	116,457	$	91,507	$	71,226