XML 37 R26.htm IDEA: XBRL DOCUMENT v3.21.2
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2021
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)2021202020212020
Revenues: (1)
Builder operations
Central$244,747 $191,749 $637,448 $467,409 
Southeast94,298 72,293 280,640 217,111 
Total builder operations339,045 264,042 918,088 684,520 
Land development3,295 11,779 32,537 37,401 
Total revenues$342,340 $275,821 $950,625 $721,921 
Gross profit:
Builder operations
Central$72,071 $52,616 $184,104 $122,561 
Southeast25,580 19,586 78,922 58,173 
Total builder operations97,651 72,202 263,026 180,734 
Land development812 2,661 8,116 9,436 
Corporate, other and unallocated (2)
(7,127)(6,977)(19,841)(19,420)
Total gross profit$91,336 $67,886 $251,301 $170,750 
Income before income taxes:
Builder operations
Central$47,753 $32,621 $116,971 $69,626 
Southeast15,360 10,964 49,769 31,677 
Total builder operations63,113 43,585 166,740 101,303 
Land development608 2,540 7,737 8,627 
Corporate, other and unallocated (3)
1,437 (202)(80)(5,066)
Income before income taxes$65,158 $45,923 $174,397 $104,864 
September 30, 2021December 31, 2020
Inventory:
Builder operations
Central$507,850 $421,477 
Southeast263,268 183,623 
Total builder operations771,118 605,100 
Land development366,566 213,555 
Corporate, other and unallocated (4)
32,613 25,980 
Total inventory$1,170,297 $844,635 
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, 2021 were $0.1 million and $28.5 million, respectively, compared to $0.2 million and $0.8 million for the three and nine months ended September 30, 2020, respectively.
(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 income (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.