Reporting Segments

3 Months Ended

Mar. 31, 2022

Reporting Segments [Abstract]

Reporting Segments

2. Reporting Segments

Our homebuilding operations are engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 17 states. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand is managed by geographic location, and each of our four geographic regions offers a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade selections. Each of our four geographic regions is considered a separate operating segment. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade selections. Our Century Complete brand currently has operations in 11 states and is managed separately from our four geographic regions. Accordingly, it is considered a separate operating segment.

The management of our four Century Communities geographic regions and Century Complete reports 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 and to allocate resources. Accordingly, we have presented our homebuilding operations as the following five reportable segments:

West (California and Washington)

Mountain (Arizona, Colorado, Nevada, and Utah)

Texas

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

Century Complete (Alabama, Arizona, Florida, Georgia, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, and Texas)

We have identified our Financial Services operations, which provide mortgage, title, and insurance services to our homebuyers, as a sixth reportable segment. Our Corporate operations are a non-operating segment, as they serve to support our homebuilding, and to a lesser extent our Financial Services operations, through functions, such as our executive, finance, treasury, human resources, accounting and legal departments. 

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

	Three Months Ended March 31,
	2022		2021
Revenue:
West	$	262,710	$	185,826
Mountain		281,360		305,313
Texas		124,577		87,735
Southeast		149,600		220,406
Century Complete		171,798		175,669
Financial Services		26,305		33,620
Corporate		—		—
Total revenue	$	1,016,350	$	1,008,569
Income (loss) before income tax expense:
West	$	71,242	$	27,461
Mountain		56,999		51,980
Texas		20,570		8,531
Southeast		30,865		23,440
Century Complete		24,692		21,730
Financial Services		11,151		15,319
Corporate		(26,743)		(17,412)
Total income before income tax expense	$	188,776	$	131,049

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

	March 31,		December 31,
	2022		2021
West	$	724,968	$	668,830
Mountain		1,016,202		1,008,481
Texas		365,114		322,302
Southeast		401,522		360,644
Century Complete		424,854		371,096
Financial Services		396,178		533,159
Corporate		166,663		232,364
Total assets	$	3,495,501	$	3,496,876

Corporate assets primarily include certain cash and cash equivalents, certain property and equipment, prepaid insurance, and deferred financing costs on our revolving line of credit.