Reporting Segments

6 Months Ended

Jun. 30, 2017

Reporting Segments [Abstract]

Reporting Segments

2. Reporting Segments

Our homebuilding operations are organized into the following seven operating segments based on the geographic markets in which we operate: Atlanta, Central Texas, Charlotte, Colorado, Houston, Nevada, and Utah.  We have also identified our Financial Services operations, which provide mortgage and title services to our homebuyers as an eighth reportable segment.  Our Corporate operations are a nonoperating segment, as it serves to support our homebuilding operations through functions such as our executive, finance, treasury, human resources, and accounting departments.  Our homebuilding reportable segments are engaged in the development, design, construction, marketing and sale of single-family attached and detached homes.  Our chief operating decision makers, the Co-CEO’s of our Company, primarily rely on total revenue and income before income tax expense to determine segment profitability.

The following table summarizes total revenue and income before income tax expense by operating segment (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Revenue:
Atlanta	$	81,466	$	90,467	$	156,856	$	154,989
Central Texas		36,717		23,925		63,445		53,049
Charlotte		—		—		—		—
Colorado		106,986		98,024		192,577		166,870
Houston		7,633		15,619		11,795		23,094
Nevada		48,501		31,607		83,002		45,736
Utah		8,778		—		10,722		—
Financial Services		1,743		—		1,743		—
Corporate		—		—		—		—
Total revenue	$	291,824	$	259,642	$	520,140	$	443,738
Income (loss) before income tax expense:
Atlanta	$	5,308	$	8,729	$	11,224	$	13,979
Central Texas		3,223		1,936		5,921		4,112
Charlotte		(516)		—		(616)		—
Colorado		16,040		12,946		27,694		23,789
Houston		(811)		(892)		(1,680)		(1,686)
Nevada		5,621		3,740		9,323		4,607
Utah		251		(157)		19		(157)
Financial Services		57		—		(697)		—
Corporate		(6,064)		(7,205)		(16,028)		(13,118)
Total income before income tax expense	$	23,109	$	19,097	$	35,160	$	31,526

The following table summarizes total assets by operating segment (in thousands):

	June 30,		December 31,
	2017		2016
Atlanta	$	290,644	$	262,448
Central Texas		125,920		112,612
Charlotte		20,064		4,907
Colorado		286,834		293,467
Houston		37,274		25,780
Nevada		234,043		231,057
Utah		43,580		17,133
Financial Services		18,448		—
Corporate		348,699		60,124
Total assets	$	1,405,506	$	1,007,528

Corporate assets include certain cash and cash equivalents, our investment in unconsolidated subsidiaries, prepaid insurance, and deferred financing costs on our revolving line of credit.