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Segment Information (Tables)
9 Months Ended
Sep. 30, 2022
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)2022202120222021
Revenues: (1)
Builder operations
Central$259,033 $244,747 $885,611 $637,448 
Southeast144,961 94,298 395,677 280,640 
Total builder operations403,994 339,045 1,281,288 918,088 
Land development3,950 3,295 45,416 32,537 
Total revenues$407,944 $342,340 $1,326,704 $950,625 
Gross profit:
Builder operations
Central$94,122 $72,071 $311,694 $184,104 
Southeast47,493 25,580 116,543 78,922 
Total builder operations141,615 97,651 428,237 263,026 
Land development1,610 812 12,852 8,116 
Corporate, other and unallocated (2)
(9,906)(7,127)(30,518)(19,841)
Total gross profit$133,319 $91,336 $410,571 $251,301 
Income before income taxes:
Builder operations
Central$67,698 $47,753 $230,174 $116,971 
Southeast34,042 15,360 79,720 49,769 
Total builder operations101,740 63,113 309,894 166,740 
Land development915 608 12,125 7,737 
Corporate, other and unallocated (3)
(5,059)1,437 (3,508)(80)
Income before income taxes$97,596 $65,158 $318,511 $174,397 
September 30, 2022December 31, 2021
Inventory:
Builder operations
Central$569,696 $460,796 
Southeast304,853 258,759 
Total builder operations874,549 719,555 
Land development538,120 449,654 
Corporate, other and unallocated (4)
40,387 34,534 
Total inventory$1,453,056 $1,203,743 
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, 2022 were $7.2 million and $7.4 million, respectively, compared to $0.1 million and $28.5 million for the three and nine months ended September 30, 2021, 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, Ventana Insurance, 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.