Information on Segments

We operate in two segments: traditional home building and urban infill. We build and sell detached and attached homes in luxury residential communities located in affluent suburban markets that cater to move-up, empty-nester, active-adult, age-qualified, and second-home buyers in the United States (“Traditional Home Building”). We also build and sell homes in urban infill markets through City Living.

We have determined that our Traditional Home Building operations operate in five geographic segments: North, Mid-Atlantic, South, West, and California. The states comprising each geographic segment are as follows:

North: Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey, and New York

Mid-Atlantic: Delaware, Maryland, Pennsylvania, and Virginia

South: Florida, North Carolina, and Texas

West: Arizona, Colorado, Idaho, Nevada, and Washington

California: California

Revenue and income (loss) before income taxes for each of our segments, for the periods indicated, were as follows (amounts in thousands):



	Three months ended January 31,
	2018			2017
Revenues:
Traditional Home Building:
North	$	134,280		$	145,638
Mid-Atlantic	206,958			184,051
South	171,492			142,196
West	258,033			211,133
California	287,104			219,776
Traditional Home Building	1,057,867			902,794
City Living	117,601			17,936
Total	$	1,175,468		$	920,730

Income (loss) before income taxes:
Traditional Home Building:
North	$	379		$	10,093
Mid-Atlantic	13,900			11,632
South	12,148			13,111
West	30,604			25,497
California	60,857			43,193
Traditional Home Building	117,888			103,526
City Living	29,964			43,102
Corporate and other	(16,254		)	(36,847		)
Total	$	131,598		$	109,781

“Corporate and other” is comprised principally of general corporate expenses such as the offices of our executive officers; the corporate finance, accounting, audit, tax, human resources, risk management, information technology, marketing, and legal groups; interest income; income from certain of our ancillary businesses, including Gibraltar; and income from a number of our unconsolidated entities.

Total assets for each of our segments, as of the dates indicated, are shown in the table below (amounts in thousands):



	January 31, 2018		October 31, 2017
Traditional Home Building:
North	$	1,098,536	$	1,074,969
Mid-Atlantic	1,186,219		1,121,013
South	1,245,326		1,184,956
West	1,327,495		1,275,298
California	2,905,756		2,630,041
Traditional Home Building	7,763,332		7,286,277
City Living	583,962		647,174
Corporate and other	1,270,605		1,511,774
Total	$	9,617,899	$	9,445,225

“Corporate and other” is comprised principally of cash and cash equivalents, restricted cash and investments, deferred tax assets, investments in our Rental Property Joint Ventures, expected recoveries from insurance carriers and suppliers, our Gibraltar investments, manufacturing facilities, and our mortgage and title subsidiaries.