Segment Disclosures (Tables)

3 Months Ended

Mar. 31, 2017

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 March 31,
	2017		2016
Revenues:
Homebuilding Mid Atlantic	$	722,268	$	633,571
Homebuilding North East		106,231		97,153
Homebuilding Mid East		243,031		244,277
Homebuilding South East		176,057		146,503
Mortgage Banking		29,505		22,522
Total consolidated revenues	$	1,277,092	$	1,144,026

Profit before Taxes

	Three Months Ended March 31,
	2017			2016
Profit before taxes:
Homebuilding Mid Atlantic	$	64,489		$	46,609
Homebuilding North East		9,106			4,065
Homebuilding Mid East		22,159			22,733
Homebuilding South East		14,569			12,786
Mortgage Banking		15,953			10,375
Total segment profit before taxes		126,276			96,568
Reconciling items:
Contract land deposit reserve adjustment (1)		(728	)		1,329
Equity-based compensation expense		(10,589	)		(10,549	)
Corporate capital allocation (2)		46,187			44,315
Unallocated corporate overhead		(27,234	)		(29,509	)
Consolidation adjustments and other		3,813			5,985
Corporate interest expense		(5,564	)		(4,827	)
Reconciling items sub-total		5,885			6,744
Consolidated profit before taxes	$	132,161		$	103,312

(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 March 31,
	2017		2016
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	29,124	$	27,186
Homebuilding North East		3,814		4,953
Homebuilding Mid East		6,742		6,699
Homebuilding South East		6,507		5,477
Total	$	46,187	$	44,315

Assets

	March 31, 2017			December 31, 2016
Assets:
Homebuilding Mid Atlantic	$	1,125,721		$	1,054,779
Homebuilding North East		137,409			126,720
Homebuilding Mid East		254,915			222,736
Homebuilding South East		230,127			214,225
Mortgage Banking		247,706			403,250
Total segment assets		1,995,878			2,021,710
Reconciling items:
Consolidated variable interest entity		1,248			1,251
Cash and cash equivalents		482,689			375,748
Deferred taxes		173,611			170,652
Intangible assets and goodwill		51,181			51,526
Contract land deposit reserve		(32,034	)		(31,306	)
Consolidation adjustments and other		69,726			54,362
Reconciling items sub-total		746,421			622,233
Consolidated assets	$	2,742,299		$	2,643,943

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 March 31,
	2017		2016
Corporate capital allocation charge:
Homebuilding Mid Atlantic	$	29,124	$	27,186
Homebuilding North East		3,814		4,953
Homebuilding Mid East		6,742		6,699
Homebuilding South East		6,507		5,477
Total	$	46,187	$	44,315