Business Segments Business Segments (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2016 and 2015:

	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands)	2016			2015			2016			2015
Revenue:
Midwest homebuilding	$	166,928		$	128,121		$	438,016		$	331,479
Southern homebuilding	143,315			137,185			414,974			341,139
Mid-Atlantic homebuilding	121,659			88,875			284,527			250,546
Financial services (a)	10,562			9,276			30,564			26,308
Total revenue	$	442,464		$	363,457		$	1,168,081		$	949,472
Operating income:
Midwest homebuilding	$	20,628		$	13,511		$	48,943		$	33,526
Southern homebuilding (b)	(5,249		)	13,860			8,380			30,421
Mid-Atlantic homebuilding	11,359			6,350			22,827			19,376
Financial services (a)	5,944			4,856			17,581			15,425
Less: Corporate selling, general and administrative expense	(10,676		)	(8,457		)	(26,876		)	(23,051		)
Total operating income	$	22,006		$	30,120		$	70,855		$	75,697
Interest expense:
Midwest homebuilding	$	647		$	649		$	2,539		$	2,536
Southern homebuilding	1,788			1,649			6,118			5,185
Mid-Atlantic homebuilding	601			948			3,058			3,011
Financial services (a)	551			412			1,445			1,138
Total interest expense	$	3,587		$	3,658		$	13,160		$	11,870
Equity in income of unconsolidated joint ventures	(24		)	(36		)	(413		)	(248		)
Income before income taxes	$	18,443		$	26,498		$	58,108		$	64,075

(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 refinancing.

(b) Includes a $14.5 million and $19.4 million charge for known and estimated future stucco-related repair costs in certain of our Florida communities (as more fully discussed in Note 6) taken during the three and nine months ended September 30, 2016, respectively.

The following tables show total assets by segment at September 30, 2016 and December 31, 2015:

	September 30, 2016
(In thousands)	Midwest		Southern		Mid-Atlantic		Corporate, Financial Services and Unallocated		Total
Deposits on real estate under option or contract	$	3,820	$	24,778	$	4,396	$	—	$	32,994
Inventory (a)	406,832		472,255		313,072		—		1,192,159
Investments in unconsolidated joint ventures	8,468		18,060		—		—		26,528
Other assets (b)	13,144		22,348		19,995		190,069		245,556
Total assets	$	432,264	$	537,441	$	337,463	$	190,069	$	1,497,237

	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 nine months ended September 30, 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.