Segment Information (Tables)

9 Months Ended

Sep. 30, 2016

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


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Operating income:
Florida
Revenues:
Homebuilding	$	96,943	$	86,892	$	251,587	$	185,484
Amenity and other		3,315		2,691		8,834		8,195
Land sales		26		6		670		3,470
Total revenues		100,284		89,589		261,091		197,149
Expenses:
Homebuilding cost of revenues		74,872		68,409		196,045		149,033
Homebuilding selling, general and administrative		12,189		11,419		33,374		26,172
Amenity and other		3,075		2,199		7,978		6,938
Land sales		6		2		225		385
Segment operating income	$	10,142	$	7,560	$	23,469	$	14,621

Arizona
Revenues:
Homebuilding	$	42,014	$	20,012	$	104,255	$	45,196
Land sales		—		—		185		—
Total revenues		42,014		20,012		104,440		45,196
Expenses:
Homebuilding cost of revenues		35,236		16,497		87,672		38,704
Homebuilding selling, general and administrative		3,854		3,009		10,773		7,846
Amenity and other		26		22		79		96
Land sales		—		—		171		—
Segment operating income (loss)	$	2,898	$	484	$	5,745	$	(1,450)

Carolinas
Revenues:
Homebuilding	$	62,864	$	44,226	$	151,817	$	49,701
Land sales		265		—		265		—
Total revenues		63,129		44,226		152,082		49,701
Expenses:
Homebuilding cost of revenues		53,803		36,182		130,573		41,174
Homebuilding selling, general and administrative		5,744		4,944		15,525		6,718
Land sales		289		—		289		—
Segment operating income	$	3,293	$	3,100	$	5,695	$	1,809

Operating income	$	16,333	$	11,144	$	34,909	$	14,980

Unallocated income (expenses):
Interest income and other		—		36		1		325
Corporate general and administrative expenses		(3,697)		(3,820)		(11,967)		(11,756)
Interest expense		(701)		(1,840)		(2,853)		(7,503)
Income (loss) before income taxes		11,935		5,520		20,090		(3,954)
Income tax expense (benefit)		38		—		(109,959)		—
Net income (loss)	$	11,897	$	5,520	$	130,049	$	(3,954)