Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

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)	2020		2019		2020		2019
Revenues: (1)
Builder operations
Central	$	191,749	$	104,685	$	467,409	$	268,278
Southeast	72,293		95,973		217,111		269,032
Total builder operations	264,042		200,658		684,520		537,310
Land development	11,779		8,746		37,401		24,228
Total revenues	$	275,821	$	209,404	$	721,921	$	561,538
Gross profit:
Builder operations
Central	$	52,616	$	24,237	$	122,561	$	60,257
Southeast	19,586		23,540		58,173		67,682
Total builder operations	72,202		47,777		180,734		127,939
Land development	2,661		2,300		9,436		6,202
Corporate, other and unallocated (2)	(6,977)		(5,352)		(19,420)		(13,769)
Total gross profit	$	67,886	$	44,725	$	170,750	$	120,372

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Income before income taxes:
Builder operations
Central	$	32,621	$	9,960	$	69,626	$	22,345
Southeast	10,964		12,486		31,677		36,852
Total builder operations	43,585		22,446		101,303		59,197
Land development	2,540		4,784		8,627		10,300
Corporate, other and unallocated (3)	(202)		(2,258)		(5,066)		(7,750)
Income before income taxes	$	45,923	$	24,972	$	104,864	$	61,747

	September 30, 2020		December 31, 2019
Inventory:
Builder operations
Central	$	384,496	$	251,677
Southeast	167,988		168,140
Total builder operations	552,484		419,817
Land development	201,181		308,071
Corporate, other and unallocated (4)	25,695		25,679
Total inventory	$	779,360	$	753,567
Goodwill:
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 builders have revenues from land or lot closings, which for the three and nine months ended September 30, 2020 were $0.2 million and $0.8 million, respectively, compared to $0.7 million and 0.8 million for the three and nine months ended September 30, 2019.

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

(3)Corporate, other and unallocated loss before income taxes includes results from Green Brick Title, LLC and investments in unconsolidated subsidiaries.

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