Segment Information

3 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

We have three homebuilding segments operating in 16 states. Revenues in our homebuilding segments are derived from the sale of homes which we construct and from land and lot sales. 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 under the aggregation of ASC 280, 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. The accounting policies of our segments are those described in Note 1 above and Note 1 to our consolidated financial statements in our 2014 Annual Report.

	Three Months Ended
	December 31,
(In thousands)	2014		2013
Revenue
West	$	87,465	$	122,576
East	104,813		107,589
Southeast	73,486		63,005
Total revenue	$	265,764	$	293,170

	Three Months Ended
	December 31,
(In thousands)	2014			2013
Operating (loss) income
West	$	6,783		$	15,762
East	7,369			8,235
Southeast	(6,233		)	5,628
Segment total	7,919			29,625
Corporate and unallocated (a)	(17,409		)	(18,093		)
Total operating (loss) income	$	(9,490	)	$	11,532

	Three Months Ended
	December 31,
(In thousands)	2014		2013
Depreciation and amortization
West	$	767	$	1,382
East	668		692
Southeast	485		391
Segment total	1,920		2,465
Corporate and unallocated (a)	421		442
Depreciation and amortization - continuing operations	$	2,341	$	2,907

	Three Months Ended
	December 31,
(In thousands)	2014		2013
Capital Expenditures
West	$	1,070	$	1,102
East	799		1,367
Southeast	862		446
Corporate and unallocated	203		285
Consolidated total	$	2,934	$	3,200

(In thousands)	December 31, 2014		September 30, 2014
Assets
West	$	784,654	$	756,575
East	457,112		433,032
Southeast	317,571		299,215
Corporate and unallocated (b)	430,049		577,398
Consolidated total	$	1,989,386	$	2,066,220

(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.

(b) 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.