Segment Information (Tables)

9 Months Ended

Jun. 30, 2017

Schedule of segment reporting information

The following tables contain our revenue, operating income and depreciation and amortization by segment for the periods presented:



	Three Months Ended				Nine Months Ended
	June 30,				June 30,
(In thousands)	2017		2016		2017		2016
Revenue
West	$	208,394	$	205,983	$	565,298	$	543,109
East	135,246		140,717		336,045		348,109
Southeast	134,948		113,237		341,954		298,775
Total revenue	$	478,588	$	459,937	$	1,243,297	$	1,189,993



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
(In thousands)	2017			2016			2017			2016
Operating income ^(a)
West	$	27,724		$	23,822		$	69,518		$	59,535
East ^(b)	14,544			7,097			26,633			19,577
Southeast ^(c)	14,520			10,022			32,109			28,417
Segment total	56,788			40,941			128,260			107,529
Corporate and unallocated ^(d)	(41,219		)	(24,632		)	(103,905		)	(79,042		)
Total operating income	$	15,569		$	16,309		$	24,355		$	28,487



	Three Months Ended				Nine Months Ended
	June 30,				June 30,
(In thousands)	2017		2016		2017		2016
Depreciation and amortization
West	$	1,641	$	1,475	$	4,434	$	4,025
East	742		764		1,869		2,195
Southeast	646		603		1,768		1,599
Segment total	3,029		2,842		8,071		7,819
Corporate and unallocated ^(d)	278		545		1,068		1,615
Total depreciation and amortization	$	3,307	$	3,387	$	9,139	$	9,434

^(a) Operating income is impacted by impairment and abandonment charges incurred during the periods presented (see Note 5).

^(b) Operating income for our East segment for the nine months ended June 30, 2017 was impacted by a charge to G&A of $2.7 million related to the write-off of a deposit on a legacy investment in a development site that we deemed noncollectible.

^(c) Operating income for our Southeast segment for the nine months ended June 30, 2016 was impacted by unexpected warranty costs related to the Florida stucco issues, net of expected insurance recoveries. This impact was a credit of $3.6 million.

^(d)Corporate and unallocated operating loss includes amortization of capitalized interest; movement in capitalized indirects; expenses related to numerous shared services functions that benefit all segments but are not allocated to the operating segments reported above, including information technology, treasury, corporate finance, legal, branding and national marketing; and certain other amounts that are not allocated to our operating segments. For the three and nine months ended June 30, 2016, the Corporate and unallocated operating loss includes a $15.5 million reduction in cost of sales resulting from an agreement entered into during that quarter with our third-party insurer to resolve certain issues related to the extent of our insurance coverage (see Note 8).

Corporate and unallocated depreciation and amortization represents depreciation and amortization related to assets held by our corporate functions that benefit all segments.

The following table contains our capital expenditures by segment for the periods presented:



	Nine Months Ended
	June 30,
(In thousands)	2017		2016
Capital Expenditures
West	$	4,659	$	5,189
East	2,073		1,928
Southeast	1,705		2,323
Corporate and unallocated	224		278
Total capital expenditures	$	8,661	$	9,718

The following table contains our asset balance by segment as of June 30, 2017 and September 30, 2016:



(In thousands)	June 30, 2017		September 30, 2016
Assets
West	$	819,680	$	778,521
East	331,138		344,898
Southeast	354,629		333,501
Corporate and unallocated ^(a)	716,178		756,238
Total assets	$	2,221,625	$	2,213,158

^(a) Primarily consists of cash and cash equivalents, restricted cash, deferred taxes, capitalized interest and indirects and other items that are not allocated to the segments.