2. Reporting Segments

Our homebuilding operations are engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in ten states, which are aggregated into four regions, each of which is managed by one of our regional presidents. Each of our homebuilding divisions is considered an operating segment, but has been aggregated into reportable segments defined by our regional structure as each region has similar economic characteristics and housing products. Each of our regional managers report to our chief operating decision makers (which we refer to as “CODMs”), the Co-Chief Executive Officers of our Company. The CODMs review the results of our operations, including total revenue and income before income tax expense to determine profitability, at the regional level. Accordingly, we have presented our homebuilding operations into the following reportable segments based on the geographic markets in which we operate:

West (Southern California, Central Valley, Bay Area and Washington)

Mountain (Colorado, Nevada and Utah)

Texas (Houston, San Antonio and Austin)

Southeast (Georgia, North Carolina, South Carolina and Tennessee)

We have also identified our Financial Services operations, which provide mortgage and title services to our homebuyers, as a fifth 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. We have adjusted prior period segment information to conform to the current period presentation.

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


	Three months ended March 31,
	2018		2017
Revenue:
West	$	118,920	$	—
Mountain		145,493		122,037
Texas		38,028		30,889
Southeast		93,849		75,390
Financial Services		5,556		—
Corporate		—		—
Total revenue	$	401,846	$	228,316

Income (loss) before income tax expense:
West	$	9,869	$	—
Mountain		17,923		15,124
Texas		1,808		1,831
Southeast		4,681		5,816
Financial Services		1,161		(754)
Corporate		(12,335)		(9,966)
Total income before income tax expense	$	23,107	$	12,051

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


	March 31,		December 31,
	2018		2017
West	$	434,076	$	394,215
Mountain		576,099		571,880
Texas		202,101		192,078
Southeast		418,832		401,618
Financial Services		56,036		63,137
Corporate		53,341		112,094
Total assets	$	1,740,485	$	1,735,022

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