Business Segments Business Segments (Tables)

3 Months Ended

Mar. 31, 2017

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, 2017 and 2016:

	Three Months Ended March 31,
(In thousands)	2017			2016
Revenue:
Midwest homebuilding	$	146,422		$	118,170
Southern homebuilding	149,365			122,694
Mid-Atlantic homebuilding	96,886			73,453
Financial services (a)	14,307			10,053
Total revenue	$	406,980		$	324,370
Operating income:
Midwest homebuilding	$	14,859		$	10,328
Southern homebuilding (b)	8,712			6,430
Mid-Atlantic homebuilding	7,253			3,884
Financial services (a)	9,230			6,275
Less: Corporate selling, general and administrative expense	(8,398		)	(7,244		)
Total operating income (b)	$	31,656		$	19,673
Interest expense:
Midwest homebuilding	$	1,377		$	1,279
Southern homebuilding	2,377			2,194
Mid-Atlantic homebuilding	916			1,408
Financial services (a)	668			384
Total interest expense	$	5,338		$	5,265
Equity in income of joint venture arrangements	(17		)	(307		)
Income before income taxes	$	26,335		$	14,715

(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 an immaterial amount of mortgage refinancing.

(b) Includes a $2.2 million charge for stucco-related repair costs in certain of our Florida communities (as more fully discussed in Note 6) taken during the three months ended March 31, 2016.

The following tables show total assets by segment at March 31, 2017 and December 31, 2016:

	March 31, 2017
(In thousands)	Midwest		Southern			Mid-Atlantic		Corporate, Financial Services and Unallocated		Total
Deposits on real estate under option or contract	$	5,521	$	21,122		$	4,152	$	—	$	30,795
Inventory (a)	417,867		539,395			298,561		—		1,255,823
Investments in joint venture arrangements	3,965		12,924			7,329		—		24,218
Other assets	14,009		27,983		(b)	16,633		202,804		261,429
Total assets	$	441,362	$	601,424		$	326,675	$	202,804	$	1,572,265

	December 31, 2016
(In thousands)	Midwest		Southern			Mid-Atlantic		Corporate, Financial Services and Unallocated		Total
Deposits on real estate under option or contract	$	3,989	$	22,607		$	3,260	$	—	$	29,856
Inventory (a)	399,814		484,038			302,226		—		1,186,078
Investments in joint venture arrangements	10,155		10,630			7,231		—		28,016
Other assets	25,747		35,622		(b)	13,912		229,280		304,561
Total assets	$	439,705	$	552,897		$	326,629	$	229,280	$	1,548,511

(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) Includes development reimbursements from local municipalities.