Segment Disclosures (Tables)

9 Months Ended

Sep. 30, 2015

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Revenues:
Homebuilding Mid Atlantic	$	792,532	$	702,645	$	2,094,820	$	1,825,500
Homebuilding North East		120,143		96,015		317,510		267,245
Homebuilding Mid East		299,157		257,649		705,670		629,385
Homebuilding South East		162,635		128,851		419,116		346,297
Mortgage Banking		27,884		18,006		66,617		48,103
Total consolidated revenues	$	1,402,351	$	1,203,166	$	3,603,733	$	3,116,530

Profit before Taxes

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Profit before taxes:
Homebuilding Mid Atlantic	$	88,058		$	76,542		$	217,665		$	184,900
Homebuilding North East		10,745			9,056			29,359			23,761
Homebuilding Mid East		29,958			18,374			52,607			29,241
Homebuilding South East		17,372			10,093			38,812			26,034
Mortgage Banking		16,966			8,617			35,847			17,884
Total segment profit		163,099			122,682			374,290			281,820
Reconciling items:
Contract land deposit reserve adjustment (1)		4,705			453			11,511			4,108
Equity-based compensation expense		(13,571	)		(18,233	)		(39,874	)		(44,874	)
Corporate capital allocation (2)		45,690			42,220			124,033			105,697
Unallocated corporate overhead		(18,055	)		(8,179	)		(67,803	)		(49,652	)
Consolidation adjustments and other		9,147			10,464			11,477			22,093
Corporate interest expense		(6,019	)		(5,616	)		(17,591	)		(16,870	)
Reconciling items sub-total		21,897			21,109			21,753			20,502
Consolidated profit before taxes	$	184,996		$	143,791		$	396,043		$	302,322

(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 September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	28,743	$	27,187	$	78,412	$	67,085
Homebuilding North East		4,451		3,151		11,566		8,333
Homebuilding Mid East		7,472		7,202		20,079		18,680
Homebuilding South East		5,024		4,680		13,976		11,599
Total	$	45,690	$	42,220	$	124,033	$	105,697

Assets

	September 30, 2015			December 31, 2014
Assets:
Homebuilding Mid Atlantic	$	1,094,256		$	917,689
Homebuilding North East		135,579			103,631
Homebuilding Mid East		249,269			192,781
Homebuilding South East		180,531			144,939
Mortgage Banking		299,021			255,969
Total segment assets		1,958,656			1,615,009
Reconciling items:
Consolidated variable interest entity		1,799			3,590
Cash and cash equivalents		375,886			514,780
Deferred taxes		172,032			165,189
Intangible assets and goodwill		53,254			54,291
Contract land deposit reserve		(44,532	)		(56,074	)
Consolidation adjustments and other		53,587			54,550
Reconciling items sub-total		612,026			736,326
Consolidated assets	$	2,570,682		$	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 September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	28,743	$	27,187	$	78,412	$	67,085
Homebuilding North East		4,451		3,151		11,566		8,333
Homebuilding Mid East		7,472		7,202		20,079		18,680
Homebuilding South East		5,024		4,680		13,976		11,599
Total	$	45,690	$	42,220	$	124,033	$	105,697