Segment Information

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Segments

Segment Information

Prior to the first quarter of 2015, our operations included the following reportable segments: (i) active adult communities; (ii) primary residential communities; and (iii) land sales. Based on the evolving nature of our business and recent operational and reporting changes, we reevaluated the identification of our reportable segments during the first quarter of 2015. As a result, beginning with the first quarter of 2015, our reportable segments are as follows: Florida, Arizona and the Carolinas.

Our operating segments are defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the chief operating decision maker to evaluate performance and make operating decisions. We have identified our chief operating decision maker as our Chief Executive Officer.

The following table summarizes our information for reportable segments for the three and nine months ended September 30, 2015 and 2014, which have been recast for all periods presented to reflect the change described above (in thousands):

	Three Months						Nine Months
	2015			2014			2015			2014
Operating income (loss):
Florida
Revenues
Homebuilding	$	86,892		$	53,669		$	185,484		$	114,600
Amenity and other	2,691			2,572			8,195			7,630
Land sales	6			12,942			3,470			15,300
Total Revenues	89,589			69,183			197,149			137,530
Expenses
Homebuilding	68,409			43,891			149,033			93,118
Homebuilding selling, general and administrative	11,419			6,613			26,172			15,923
Amenity and other	2,199			2,537			6,938			7,888
Land sales	2			8,688			385			9,388
Segment operating income	7,560			7,454			14,621			11,213
Arizona
Revenues
Homebuilding	$	20,012		$	17,458		$	45,196		$	30,555
Land sales	—			—			—			13,868
Total Revenues	20,012			17,458			45,196			44,423
Expenses
Homebuilding	16,497			14,660			38,704			25,640
Homebuilding selling, general and administrative	3,009			2,209			7,846			5,150
Amenity and other	22			66			96			327
Land sales	—			(16		)	—			11,522
Segment operating income (loss)	484			539			(1,450		)	1,784
Carolinas
Revenues
Homebuilding	$	44,226		$	—		$	49,701		$	—
Total Revenues	44,226			—			49,701			—
Expenses
Homebuilding	36,182			—			41,174			—
Homebuilding selling, general and administrative	4,944			538			6,718			1,237
Segment operating income (loss)	3,100			(538		)	1,809			(1,237		)
Operating income	$	11,144		$	7,455		$	14,980		$	11,760
Unallocated income (expenses):
Interest income and other	41			85			165			258
Equity in earnings (loss) in unconsolidated entities	(5		)	(5		)	160			(10		)
Corporate general and administrative expenses	(3,820		)	(4,016		)	(11,756		)	(12,264		)
Interest expense	(1,840		)	(2,841		)	(7,503		)	(2,952		)
Income (loss) before income taxes	5,520			678			(3,954		)	(3,208		)
Income tax expense (benefit)	—			—			—			—

Net income attributable to non-controlling interests	—		—		—			329
Net income (loss) attributable to AV Homes	$	5,520	$	678	$	(3,954	)	$	(3,537	)

	September 30,		December 31,
	2015		2014
Segment assets:
Florida	$	348,503	$	278,091
Arizona	179,004		145,380
Carolinas	166,383		28,475
Unallocated assets	62,250		216,940
Total assets	$	756,140	$	668,886