Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

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 September 30,						Nine Months Ended September 30,
(in thousands)	2019			2018			2019			2018
Revenues: (1)
Builder operations
Central	$	104,685		$	60,886		$	268,278		$	202,224
Southeast	95,973			78,803			269,032			209,249
Total builder operations	200,658			139,689			537,310			411,473
Land development	8,746			12,363			24,228			27,054
Total revenues	$	209,404		$	152,052		$	561,538		$	438,527
Gross profit:
Builder operations
Central	$	24,237		$	16,002		$	60,257		$	55,364
Southeast	23,540			21,913			67,682			57,626
Total builder operations	47,777			37,915			127,939			112,990
Land development	2,300			2,142			6,202			6,591
Corporate, other and unallocated (2)	(5,352		)	(3,389		)	(13,769		)	(9,208		)
Total gross profit	$	44,725		$	36,668		$	120,372		$	110,373

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2019			2018			2019			2018
Income before income taxes:
Builder operations
Central	$	10,734		$	6,984		$	24,588		$	28,026
Southeast	12,429			12,649			36,543			33,978
Total builder operations	23,163			19,633			61,131			62,004
Land development	4,067			1,292			8,366			4,975
Corporate, other and unallocated (3)	(2,258		)	(818		)	(7,750		)	(6,031		)
Income before income taxes	$	24,972		$	20,107		$	61,747		$	60,948

	September 30, 2019		December 31, 2018
Inventory:
Builder operations
Central	$	219,416	$	160,980
Southeast	167,544		159,616
Total builder operations	386,960		320,596
Land development	329,688		329,105
Corporate, other and unallocated (4)	24,151		19,260
Total inventory	$	740,799	$	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 condensed consolidated statements of income in periods when our controlled builders have revenues from land or lot closings, which for the three and nine months ended September 30, 2019 was $0.7 million and $0.8 million, compared to $0.2 million and $4.6 million for the three and nine months ended September 30, 2018, 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 and investments in unconsolidated subsidiaries, 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.