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Business Segments Business Segments (Tables)
 3 Months Ended
Mar. 31, 2016
Business Segments [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The following table shows, by segment: revenue, operating income and interest expense for the three months ended March 31, 2016 and 2015:
 
Three Months Ended March 31,
(In thousands)
2016
 
2015
Revenue:
 
 
 
Midwest homebuilding
$
118,170

 
$
85,217

Southern homebuilding
122,694

 
98,555

Mid-Atlantic homebuilding
73,453

 
71,289

Financial services (a)
10,053

 
8,098

Total revenue
$
324,370

 
$
263,159

 
 
 
 
Operating income:
 
 
 
Midwest homebuilding
$
10,328

 
$
7,796

Southern homebuilding
6,430

 
8,591

Mid-Atlantic homebuilding
3,884

 
4,760

Financial services (a)
6,275

 
5,324

Less: Corporate selling, general and administrative expense
(7,244
)
 
(6,515
)
Total operating income
$
19,673

 
$
19,956

 
 
 
 
Interest expense:
 
 
 
Midwest homebuilding
$
1,279

 
$
1,324

Southern homebuilding
2,194

 
1,774

Mid-Atlantic homebuilding
1,408

 
1,033

Financial services (a)
384

 
331

Total interest expense
$
5,265

 
$
4,462

 
 
 
 
Equity in income of unconsolidated joint ventures
(307
)
 
(198
)
 
 
 
 
Income before income taxes
$
14,715

 
$
15,692

(a)
Our financial services operational results should be viewed in connection with our homebuilding business as its operations originate loans and provide title services primarily for our homebuying customers, with the exception of a small amount of mortgage re-financing.
The following tables show total assets by segment at March 31, 2016 and December 31, 2015:
 
March 31, 2016
(In thousands)
Midwest
 
Southern
 
Mid-Atlantic
 
Corporate, Financial Services and Unallocated
 
Total
Deposits on real estate under option or contract
$
3,678

 
$
21,351

 
$
4,311

 
$
—

 
$
29,340

Inventory (a)
362,554

 
445,815

 
315,828

 
—

 
1,124,197

Investments in unconsolidated joint ventures
6,451

 
19,242

 
—

 
—

 
25,693

Other assets (b)
14,548

 
31,577

 
9,991

 
201,366

 
257,482

Total assets
$
387,231

 
$
517,985

 
$
330,130

 
$
201,366

 
$
1,436,712


 
December 31, 2015
(In thousands)
Midwest
 
Southern
 
Mid-Atlantic
 
Corporate, Financial Services and Unallocated
 
Total
Deposits on real estate under option or contract
$
3,379

 
$
16,128

 
$
4,203

 
$
—

 
$
23,710

Inventory (a)
368,748

 
416,443

 
303,141

 
—

 
1,088,332

Investments in unconsolidated joint ventures
5,976

 
30,991

 
—

 
—

 
36,967

Other assets
10,018

 
23,704

 
7,253

 
225,570

 
266,545

Total assets
$
388,121

 
$
487,266

 
$
314,597

 
$
225,570

 
$
1,415,554

(a)
Inventory includes single-family lots, land and land development costs; land held for sale; homes under construction; model homes and furnishings; community development district infrastructure; and consolidated inventory not owned.
(b)
During the three months ended March 31, 2016, the Company purchased an airplane for $9.9 million. The asset is included in the table above in Corporate, Financial Services, and Unallocated Other Assets, and within Property and Equipment - Net in our Unaudited Condensed Consolidated Balance Sheets.