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Segment Information
 12 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
Segment Information
Segment Information
We have three homebuilding segments operating in 16 states. Beginning in the second quarter of fiscal 2011, through May 2, 2012, we operated our Pre-Owned business in Arizona and Nevada. The results below include operating results of our Pre-Owned segment through May 2, 2012. Effective May 3, 2012, we contributed our Pre-Owned business for an investment in an unconsolidated entity (see Note 3 for additional information). Revenues in our homebuilding segments are derived from the sale of homes which we construct and from land and lot sales. Revenues from our Pre-Owned segment were derived from the rental of previously owned homes purchased and improved by the Company. Our reportable segments have been determined on a basis that is used internally by management for evaluating segment performance and resource allocations. The reportable homebuilding segments and all other homebuilding operations, not required to be reported separately, include operations conducting business in the following states:
West: Arizona, California, Nevada and Texas
East: Delaware, Indiana, Maryland, New Jersey, New York, Pennsylvania, Tennessee (Nashville) and Virginia
Southeast: Florida, Georgia, North Carolina (Raleigh) and South Carolina
Management’s evaluation of segment performance is based on segment operating income. Operating income for our homebuilding segments is defined as homebuilding, land sale and other revenues less home construction, land development and land sales expense, commission expense, depreciation and amortization and certain general and administrative expenses which are incurred by or allocated to our homebuilding segments. Operating income for our Pre-Owned segment was defined as rental revenues less home repairs and operating expenses, home sales expense, depreciation and amortization and certain general and administrative expenses which are incurred by or allocated to the segment. The accounting policies of our segments are those described in Note 1 above.
 
Fiscal Year Ended September 30,
(In thousands)
2014
 
2013
 
2012
Revenue
 
 
 
 
 
West
$
556,741

 
$
547,636

 
$
391,648

East
552,082

 
483,685

 
402,466

Southeast
354,944

 
256,256

 
210,449

Pre-Owned
—

 
—

 
1,114

Continuing Operations
$
1,463,767

 
$
1,287,577

 
$
1,005,677


 
Fiscal Year Ended September 30,
(In thousands)
2014
 
2013
 
2012
Operating income (loss)
 
 
 
 
 
West
$
65,442

 
$
59,084

 
$
15,147

East
48,127

 
40,670

 
9,152

Southeast
31,854

 
23,030

 
14,815

Pre-Owned
—

 
—

 
(229
)
Segment total
145,423

 
122,784

 
38,885

Corporate and unallocated (a)
(89,734
)
 
(95,523
)
 
(100,943
)
Total operating income (loss)
$
55,689

 
$
27,261

 
$
(62,058
)

 
Fiscal Year Ended September 30,
(In thousands)
2014
 
2013
 
2012
Depreciation and amortization
 
 
 
 
 
West
$
5,722

 
$
5,305

 
$
4,980

East
3,447

 
3,479

 
3,536

Southeast
2,075

 
1,683

 
1,710

Pre-Owned
—

 
—

 
330

Segment total
11,244

 
10,467

 
10,556

Corporate and unallocated (a)
2,035

 
2,317

 
2,954

Continuing Operations
$
13,279

 
$
12,784

 
$
13,510


 
Fiscal Year Ended September 30,
(In thousands)
2014
 
2013
 
2012
Capital Expenditures
 
 
 
 
 
West
$
6,660

 
$
4,835

 
$
3,031

East
3,050

 
1,915

 
3,532

Southeast
2,979

 
1,311

 
1,814

Pre-Owned (b)
—

 
—

 
7,933

Corporate and unallocated
1,864

 
2,700

 
1,053

Consolidated total
$
14,553

 
$
10,761

 
$
17,363


(In thousands)
September 30, 2014
 
September 30, 2013
Assets
 
 
 
West
$
756,575

 
$
680,346

East
433,032

 
369,937

Southeast
299,215

 
228,814

Corporate and unallocated (c)
577,398

 
707,692

Consolidated total
$
2,066,220

 
$
1,986,789


(a)
Corporate and unallocated includes amortization of capitalized interest and numerous shared services functions that benefit all segments, the costs of which are not allocated to the operating segments reported above including information technology, treasury, corporate finance, legal, branding and other national marketing costs. For the fiscal year ended September 30, 2012, corporate and unallocated also includes an $11 million recovery related to old water intrusion warranty and related legal expenditures.
(b)
Capital expenditures represent the purchase of previously owned homes through May 2, 2012.
(c)
Primarily consists of cash and cash equivalents, consolidated inventory not owned, deferred taxes, capitalized interest and other items that are not allocated to the segments.