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REPORTING SEGMENTS
 9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
REPORTING SEGMENTS REPORTING SEGMENTS
We have multiple homebuilding operating components which are engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer service. We aggregate our homebuilding operating components into three reporting segments, East, Central, and West, based on similar long-term economic characteristics. We also have a financial services reporting segment. We have no inter-segment sales as all sales are to external customers.

Our reporting segments are as follows:
 
East
Atlanta, Charlotte, Chicago, Jacksonville, Orlando, Raleigh, Southwest Florida, and Tampa
Central
Austin, Dallas, Denver, and Houston
West
Bay Area, Phoenix, Sacramento and Southern California
Financial Services
TMHF and Inspired Title Services


Segment information is as follows (in thousands):

 
 
Three Months Ended September 30, 2019
 
 
East
 
Central
 
West
 
Financial Services
 
Corporate
and
Unallocated
 
Total
Total revenues
 
$
439,498

 
$
313,643

 
$
328,710

 
$
23,254

 
$
—

 
$
1,105,105

 
 
 
 
 
 
 
 
 
 
 
 
 
Gross margin
 
74,368

 
58,021

 
68,260

 
10,425

 
—

 
211,074

Selling, general and administrative expenses
 
(39,560
)
 
(29,918
)
 
(23,366
)
 
—

 
(26,255
)
 
(119,099
)
Equity in (loss)/income of unconsolidated entities
 
—

 
(50
)
 
1,215

 
939

 
(1
)
 
2,103

Interest and other (expense)/ income, net (1)
 
(531
)
 
(159
)
 
63

 
—

 
(3,030
)
 
(3,657
)
Income/(loss) before income taxes
 
$
34,277

 
$
27,894

 
$
46,172

 
$
11,364

 
$
(29,286
)
 
$
90,421

(1) Interest and other (expense)/ income, net includes loss on extinguishment of debt.
 
 
Three Months Ended September 30, 2018
 
 
East
 
Central
 
West
 
Financial Services
 
Corporate
and
Unallocated
 
Total
Total revenues
 
$
393,476

 
$
277,441

 
$
348,421

 
$
17,041

 
$
—

 
$
1,036,379

 
 
 
 
 
 
 
 
 
 
 
 
 
Gross margin
 
70,427

 
47,715

 
74,267

 
6,590

 
—

 
198,999

Selling, general and administrative expenses
 
(32,182
)
 
(25,612
)
 
(20,630
)
 
—

 
(22,096
)
 
(100,520
)
Equity in income of unconsolidated entities
 
137

 
196

 
1,309

 
872

 
—

 
2,514

Interest and other (expense)/ income, net
 
(247
)
 
204

 
84

 
—

 
(169
)
 
(128
)
Income/(loss) before income taxes
 
$
38,135

 
$
22,503


$
55,030


$
7,462


$
(22,265
)

$
100,865


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2019
 
 
East
 
Central
 
West
 
Financial
Services
 
Corporate
and
Unallocated
 
Total
Total revenues
 
$
1,279,826

 
$
931,592

 
$
1,022,088

 
$
62,117

 
$
—

 
$
3,295,623

 
 
 
 
 
 
 
 
 
 
 
 
 
Gross margin
 
212,693

 
163,015

 
215,658

 
25,522

 
—

 
616,888

Selling, general and administrative expenses
 
(116,579
)
 
(87,478
)
 
(68,906
)
 
—

 
(74,836
)
 
(347,799
)
Equity in (loss)/ income of unconsolidated entities
 
—

 
(220
)
 
3,771

 
4,274

 
158

 
7,983

Interest and other expense, net (1)
 
(4,066
)
 
(715
)
 
(148
)
 
—

 
(3,631
)
 
(8,560
)
Income/(loss) before income taxes
 
$
92,048

 
$
74,602

 
$
150,375

 
$
29,796

 
$
(78,309
)
 
$
268,512

(1) Interest and other (expense)/ income, net includes loss on extinguishment of debt.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2018
 
 
East
 
Central
 
West
 
Financial
Services
 
Corporate
and
Unallocated
 
Total
Total revenues
 
$
1,038,756

 
$
789,665

 
$
893,606

 
$
47,513

 
$
—

 
$
2,769,540

 
 
 
 
 
 
 
 
 
 
 
 
 
Gross margin
 
187,844

 
141,994

 
175,108

 
15,866

 
—

 
520,812

Selling, general and administrative expenses
 
(91,920
)
 
(74,015
)
 
(56,256
)
 
—

 
(65,410
)
 
(287,601
)
Equity in income of unconsolidated entities
 
378

 
951

 
3,879

 
4,569

 
—

 
9,777

Interest and other (expense)/ income, net
 
(846
)
 
(34
)
 
2

 
—

 
(2,722
)
 
(3,600
)
Income/(loss) before income taxes
 
$
95,456

 
$
68,896

 
$
122,733

 
$
20,435

 
$
(68,132
)
 
$
239,388

 
 
As of September 30, 2019
 
 
East
 
Central
 
West
 
Financial Services
 
Corporate
and
Unallocated
 
Total
Real estate inventory and land deposits
 
$
2,025,102

 
$
1,041,838

 
$
1,228,524

 
$
—

 
$
—

 
$
4,295,464

Investments in unconsolidated entities
 
—

 
37,408

 
86,682

 
4,015

 
258

 
128,363

Other assets
 
170,692

 
122,883

 
82,445

 
178,807

 
361,206

 
916,033

Total assets
 
$
2,195,794

 
$
1,202,129

 
$
1,397,651

 
$
182,822

 
$
361,464

 
$
5,339,860


 
 
 
As of December 31, 2018
 
 
East
 
Central
 
West
 
Financial Services
 
Corporate
and
Unallocated
 
Total
Real estate inventory and land deposits
 
$
1,862,756

 
$
1,011,659

 
$
1,164,079

 
$
—

 
$
—

 
$
4,038,494

Investments in unconsolidated entities
 
—

 
35,476

 
100,693

 
4,015

 
357

 
140,541

Other assets
 
162,339

 
118,187

 
55,433

 
236,291

 
513,156

 
1,085,406

Total assets
 
$
2,025,095

 
$
1,165,322

 
$
1,320,205

 
$
240,306

 
$
513,513

 
$
5,264,441