Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Segment Reporting Information

Financial information relating to the Company’s reportable segments is as follows. Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented.



	Three Months Ended March 31,
(in thousands)	2019		2018
Revenues: ⁽¹⁾
Builder operations
Central	$	84,425	$	72,446



	Three Months Ended March 31,
(in thousands)	2019			2018
Southeast	77,173			52,718
Total builder operations	161,598			125,164
Land development	7,030			3,999
Total revenues	$	168,628		$	129,163

Gross profit (loss):
Builder operations
Central	$	18,117		$	22,521
Southeast	19,287			11,864
Total builder operations	37,404			34,385
Land development	1,783			1,285
Corporate, other and unallocated ⁽²⁾	(3,821		)	(3,036		)
Total gross profit	$	35,366		$	32,634

Income (loss) before income taxes:
Builder operations
Central	$	6,938		$	11,100
Southeast	9,152			7,978
Total builder operations	16,090			19,078
Land development	2,677			1,019
Corporate, other and unallocated⁽³⁾	(3,448		)	(3,486		)
Total income before income taxes	$	15,319		$	16,611

	March 31, 2019			December 31, 2018
Inventory:
Builder operations
Central	$	165,528		$	160,980
Southeast	173,176			159,616
Total builder operations	338,704			320,596
Land development	330,716			329,105
Corporate, other and unallocated⁽⁴⁾	21,397			19,260
Total inventory	$	690,817		$	668,961

Goodwill: ⁽⁵⁾
Builder operations - Southeast	$	680		$	680


(1)	The sum of Builder operations Central and Southeast segments’ revenues does not equal residential units revenue included in the consolidated statements of income in periods when our controlled builders have revenues from land or lot closings, which for the three months ended March 31, 2019 and 2018 were $0.0 million and $3.9 million, respectively.


(2)	Corporate, other and unallocated gross loss is comprised of capitalized overhead and capitalized interest adjustments that are not allocated to operating segments.


(3)	Corporate, other and unallocated loss before income taxes includes results from Green Brick Title, LLC, GB Challenger, LLC, Green Brick Mortgage, LLC, and Providence Group Title, LLC, in addition to capitalized cost adjustments that are not allocated to operating segments.


(4)	Corporate, other and unallocated inventory consists of capitalized overhead and interest related to work in process and land under development.


(5)	In connection with the GRBK GHO business combination, the Company recorded goodwill of $0.7 million.