Segment Disclosures (Tables)

9 Months Ended

Sep. 30, 2016

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,
	2016		2015		2016		2015
Revenues:
Homebuilding Mid Atlantic	$	873,490	$	792,532	$	2,279,207	$	2,094,820
Homebuilding North East		123,754		120,143		329,674		317,510
Homebuilding Mid East		327,387		299,157		877,921		705,670
Homebuilding South East		182,820		162,635		503,894		419,116
Mortgage Banking		30,118		27,884		79,082		66,617
Total consolidated revenues	$	1,537,569	$	1,402,351	$	4,069,778	$	3,603,733

Profit before Taxes

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Profit before taxes:
Homebuilding Mid Atlantic	$	81,137		$	88,058		$	191,476		$	217,665
Homebuilding North East		8,711			10,745			18,354			29,359
Homebuilding Mid East		34,699			29,958			87,488			52,607
Homebuilding South East		16,548			17,372			45,159			38,812
Mortgage Banking		18,155			16,966			42,503			35,847
Total segment profit before taxes		159,250			163,099			384,980			374,290
Reconciling items:
Contract land deposit reserve adjustment (1)		785			4,705			3,421			11,511
Equity-based compensation expense		(11,081	)		(13,571	)		(32,459	)		(39,874	)
Corporate capital allocation (2)		50,032			45,690			140,606			124,033
Unallocated corporate overhead		(18,459	)		(18,055	)		(74,485	)		(67,803	)
Consolidation adjustments and other		9,798			9,147			25,660			11,477
Corporate interest expense		(5,322	)		(6,019	)		(14,688	)		(17,591	)
Reconciling items sub-total		25,753			21,897			48,055			21,753
Consolidated profit before taxes	$	185,003		$	184,996		$	433,035		$	396,043

(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,
	2016		2015		2016		2015
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	31,960	$	28,743	$	87,911	$	78,412
Homebuilding North East		4,572		4,451		13,972		11,566
Homebuilding Mid East		7,366		7,472		21,523		20,079
Homebuilding South East		6,134		5,024		17,200		13,976
Total	$	50,032	$	45,690	$	140,606	$	124,033

Assets

	September 30, 2016			December 31, 2015
Assets:
Homebuilding Mid Atlantic	$	1,223,426		$	994,804
Homebuilding North East		145,191			133,106
Homebuilding Mid East		253,806			220,094
Homebuilding South East		229,682			175,572
Mortgage Banking		326,656			372,203
Total segment assets		2,178,761			1,895,779
Reconciling items:
Consolidated variable interest entity		1,247			1,749
Cash and cash equivalents		249,728			397,522
Deferred taxes		171,941			161,805
Intangible assets and goodwill		51,872			52,909
Contract land deposit reserve		(38,817	)		(42,239	)
Consolidation adjustments and other		48,484			44,193
Reconciling items sub-total		484,455			615,939
Consolidated assets	$	2,663,216		$	2,511,718

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,
	2016		2015		2016		2015
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	31,960	$	28,743	$	87,911	$	78,412
Homebuilding North East		4,572		4,451		13,972		11,566
Homebuilding Mid East		7,366		7,472		21,523		20,079
Homebuilding South East		6,134		5,024		17,200		13,976
Total	$	50,032	$	45,690	$	140,606	$	124,033