Segment Information (Tables)

6 Months Ended

Jun. 30, 2016

The following table summarizes our information for reportable segments for the three and six months ended June 30, 2016 and 2015 (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Operating income:
Florida
Revenues:
Homebuilding	$	88,597	$	56,686	$	154,644	$	98,592
Amenity and other		2,737		2,727		5,519		5,504
Land sales		569		760		644		3,464
Total revenues	$	91,903	$	60,173	$	160,807	$	107,560
Expenses:
Homebuilding cost of revenues		69,256		46,023		121,173		80,624
Homebuilding selling, general and administrative		11,977		8,165		21,185		14,753
Amenity and other		2,349		2,394		4,903		4,739
Land sales		203		98		219		383
Segment operating income	$	8,118	$	3,493	$	13,327	$	7,061

Arizona
Revenues:
Homebuilding	$	40,567	$	15,277	$	62,241	$	25,184
Land sales		185		—		185		—
Total revenues		40,752		15,277		62,426		25,184
Expenses:
Homebuilding cost of revenues		33,890		13,594		52,436		22,207
Homebuilding selling, general and administrative		3,877		2,515		6,919		4,837
Amenity and other		21		36		53		74
Land sales		171		—		171		—
Segment operating income (loss)	$	2,793	$	(868)	$	2,847	$	(1,934)

Carolinas
Revenues:
Homebuilding	$	55,441	$	3,939	$	88,953	$	5,475
Total revenues		55,441		3,939		88,953		5,475
Expenses:
Homebuilding cost of revenues		48,236		3,617		76,770		4,992
Homebuilding selling, general and administrative		5,734		958		9,781		1,774
Segment operating income (loss)	$	1,471	$	(636)	$	2,402	$	(1,291)

Operating income	$	12,382	$	1,989	$	18,576	$	3,836

Unallocated income (expenses):
Interest and other income (expense)		(23)		233		1		289
Corporate general and administrative expenses		(4,183)		(4,282)		(8,270)		(7,936)
Interest expense		(880)		(2,406)		(2,152)		(5,663)
Income (loss) before income taxes		7,296		(4,466)		8,155		(9,474)
Income tax benefit		(110,065)		—		(109,997)		—
Net income (loss)	$	117,361	$	(4,466)	$	118,152	$	(9,474)