Segment Disclosures (Tables)

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Revenues

Following are tables presenting segment revenues, profit and assets, with reconciliations to the amounts reported for the consolidated enterprise, where applicable:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Revenues:
Homebuilding Mid Atlantic	$	746,168	$	657,825	$	1,302,288	$	1,122,855
Homebuilding North East		114,375		92,438		197,368		171,230
Homebuilding Mid East		221,083		221,088		406,512		371,736
Homebuilding South East		139,485		112,729		256,481		217,446
Mortgage Banking		22,522		17,974		38,733		30,097
Total consolidated revenues	$	1,243,633	$	1,102,054	$	2,201,382	$	1,913,364

Profit before Taxes

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Profit before taxes:
Homebuilding Mid Atlantic	$	85,041		$	67,347		$	129,607		$	108,358
Homebuilding North East		12,631			8,398			18,615			14,705
Homebuilding Mid East		15,586			11,116			22,649			10,867
Homebuilding South East		12,625			7,895			21,441			15,941
Mortgage Banking		12,256			7,427			18,881			9,267
Total segment profit		138,139			102,183			211,193			159,138
Reconciling items:
Contract land deposit reserve adjustment (1)		5,903			1,672			6,806			3,655
Equity-based compensation expense		(12,904	)		(15,938	)		(26,303	)		(26,641	)
Corporate capital allocation (2)		41,398			34,511			78,341			63,477
Unallocated corporate overhead		(19,764	)		(15,513	)		(49,748	)		(41,473	)
Consolidation adjustments and other		1,681			7,488			2,330			11,629
Corporate interest expense		(5,769	)		(5,579	)		(11,572	)		(11,254	)
Reconciling items sub-total		10,545			6,641			(146	)		(607	)
Consolidated profit before taxes	$	148,684		$	108,824		$	211,047		$	158,531

(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 June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	26,258	$	21,742	$	49,667	$	39,898
Homebuilding North East		3,805		2,733		7,115		5,182
Homebuilding Mid East		6,672		6,180		12,607		11,478
Homebuilding South East		4,663		3,856		8,952		6,919
Total	$	41,398	$	34,511	$	78,341	$	63,477

Assets

	June 30, 2015			December 31, 2014
Assets:
Homebuilding Mid Atlantic	$	1,020,837		$	917,689
Homebuilding North East		131,216			103,631
Homebuilding Mid East		258,942			192,781
Homebuilding South East		173,378			144,939
Mortgage Banking		311,808			255,969
Total segment assets		1,896,181			1,615,009
Reconciling items:
Consolidated variable interest entity		2,902			3,590
Cash and cash equivalents		476,493			514,780
Deferred taxes		170,162			165,189
Intangible assets and goodwill		53,600			54,291
Contract land deposit reserve		(49,237	)		(56,074	)
Consolidation adjustments and other		46,134			54,550
Reconciling items sub-total		700,054			736,326
Consolidated assets	$	2,596,235		$	2,351,335

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 June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	26,258	$	21,742	$	49,667	$	39,898
Homebuilding North East		3,805		2,733		7,115		5,182
Homebuilding Mid East		6,672		6,180		12,607		11,478
Homebuilding South East		4,663		3,856		8,952		6,919
Total	$	41,398	$	34,511	$	78,341	$	63,477