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Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
We operate two principal businesses: homebuilding and financial services.
Effective January 15, 2021, we consolidated our six regional homebuilding brands into one unified name, Tri Pointe Homes, under which we continue to acquire and develop land and construct and sell single-family detached and attached homes. In accordance with ASC Topic 280, Segment Reporting, in determining the most appropriate reportable segments, we considered similar economic and other characteristics, including product types, average selling prices, gross profits, production
processes, suppliers, subcontractors, regulatory environments, land acquisition results, and underlying demand and supply. In addition, our determination of reporting segments considered how our chief operating decision maker evaluates operating performance and capital allocation. Based upon these factors and in consideration of the geographical layout of our homebuilding markets, we have identified three homebuilding reporting segments, and as a result of such change, beginning in the quarter ended March 31, 2021, our homebuilding segments are reported under the following hierarchy:
West Region: Arizona, California, Nevada and Washington
Central Region: Colorado and Texas
East Region: District of Columbia, Maryland, North Carolina, South Carolina and Virginia
In September 2023, we announced our expansion into the greater Salt Lake City region with the launch of a new division in Utah. As of December 31, 2023, we had not yet commenced significant operations in this market.
Our Tri Pointe Solutions financial services operation is a reportable segment and is comprised of our Tri Pointe Connect mortgage financing operations, our Tri Pointe Assurance title and escrow services operations, and our Tri Pointe Advantage property and casualty insurance agency operations. For further details, see Note 1, Organization and Summary of Significant Accounting Policies.
Corporate is a non-operating segment that develops and implements company-wide strategic initiatives and provides support to our homebuilding reporting segments by centralizing certain administrative functions, such as marketing, legal, accounting, treasury, insurance, internal audit and risk management, information technology and human resources, to benefit from economies of scale. Our Corporate non-operating segment also includes general and administrative expenses related to operating our corporate headquarters. All of the expenses incurred by Corporate are allocated to the homebuilding reporting segments.
The reportable segments follow the same accounting policies used for our consolidated financial statements, as described in Note 1, Organization and Summary of Significant Accounting Policies. 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.
Total revenues and income before income taxes for each of our reportable segments were as follows (in thousands):
 
Year Ended December 31,
 202320222021
Revenues   
West$2,413,318 $2,983,630 $2,909,429 
Central757,303 856,034 671,199 
East498,582 459,702 390,161 
Total homebuilding revenues3,669,203 4,299,366 3,970,789 
Financial services46,001 49,167 11,446 
Total$3,715,204 $4,348,533 $3,982,235 
Income (loss) before taxes   
West$313,963 $582,438 $497,593 
Central81,222 118,533 73,381 
East57,495 48,164 34,495 
Total homebuilding income before taxes452,680 749,135 605,469 
Financial services14,679 24,077 20,193 
Total$467,359 $773,212 $625,662 
    Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands):
 
December 31, 2023December 31, 2022
Real estate inventories  
West$2,209,113 $2,258,606 
Central762,051 598,700 
East366,319 316,543 
Total$3,337,483 $3,173,849 
Total assets(1)
  
West$2,557,608 $2,552,121 
Central947,200 761,082 
East421,630 376,129 
Corporate941,824 978,748 
Total homebuilding assets4,868,262 4,668,080 
Financial services46,326 51,860 
Total$4,914,588 $4,719,940 
(1) Total assets as of December 31, 2023 and 2022 includes $139.3 million of goodwill, with $125.4 million included in the West segment, $8.3 million included in the Central segment and $5.6 million included in the East segment. Total Corporate assets as of December 31, 2023 and 2022 includes our Tri Pointe Homes trade name. For further details on goodwill and our intangible assets, see Note 8, Goodwill and Other Intangible Assets.