Segment Information

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s operations are organized into two reportable segments: homebuilding and fee building. In accordance with ASC 280, in determining the most appropriate reportable segments, we considered similar economic and other characteristics, including product types, average selling prices, gross margins, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, and underlying demand and supply.

The reportable segments follow the same accounting policies as our consolidated financial statements described in Note 1. 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. Financial information relating to reportable segments was as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2016		2015			2016			2015
	(Dollars in thousands)
Revenues:
Homebuilding	$	78,836	$	19,202		$	121,139		$	75,437
Fee building, including management fees	30,028		26,429			72,965			73,059
Total	$	108,864	$	45,631		$	194,104		$	148,496
Income (loss) before income taxes:
Homebuilding	$	2,228	$	(805	)	$	(906	)	$	3,772
Fee building, including management fees	1,711		1,220			3,734			4,073
Total	$	3,939	$	415		$	2,828		$	7,845

	June 30,		December 31,
	2016		2015
	(Dollars in thousands)
Assets:
Homebuilding	$	497,529	$	331,697
Fee building	10,440		19,573
Total	$	507,969	$	351,270