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Business Segments Business Segments (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The following table shows, by segment, revenue, operating income and interest (income) expense for 2021, 2020 and 2019, as well as the Company’s income before income taxes for such periods:
Year Ended December 31,
(In thousands)202120202019
Revenue:
Northern homebuilding$1,595,746 $1,256,405 $1,027,291 
Southern homebuilding2,048,113 1,702,727 1,417,676 
Financial services (a)
102,028 87,013 55,323 
Total revenue$3,745,887 $3,046,145 $2,500,290 
Operating income:
Northern homebuilding (b)
$211,958 $125,588 $96,239 
Southern homebuilding (c)
312,661 202,561 115,082 
Financial services (a)
62,291 53,395 27,350 
Less: Corporate selling, general and administrative expense(68,614)(62,283)(51,582)
Total operating income (b) (c) (d)
$518,296 $319,261 $187,089 
Interest expense (income):
Northern homebuilding$76 $2,465 $7,474 
Southern homebuilding(464)4,292 10,250 
Financial services (a)
3,912 2,927 3,651 
Corporate(1,368)— — 
Total interest expense$2,156 $9,684 $21,375 
Other income (e)
$(2,046)$(466)$(311)
Loss on early extinguishment of debt (f)
9,072 — — 
Income before income taxes$509,114 $310,043 $166,025 
Depreciation and amortization:   
Northern homebuilding$3,407 $3,342 $2,944 
Southern homebuilding3,644 4,468 4,778 
Financial services2,227 3,034 2,095 
Corporate7,637 6,734 6,133 
Total depreciation and amortization$16,915 $17,578 $15,950 
(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 $0.6 million of acquisition-related charges taken during 2019 as a result of our acquisition of Pinnacle Homes in Detroit, Michigan on March 1, 2018.
(c)Includes a $0.9 million net charge for stucco-related repair costs in certain of our Florida communities (as more fully discussed in Note 8 to our Consolidated Financial Statements) taken during 2020.
(d)For the years ended December 31, 2020 and 2019, total operating income was reduced by $8.4 million and $5.0 million, respectively, related to asset impairment charges taken during the period.
(e)Other income is comprised of the gain on the sale of a non-operating asset during the fourth quarter of 2021 as well as equity in income from joint venture arrangements.
(f)Loss on early extinguishment of debt relates to the early redemption of our 2025 Senior Notes during the third quarter of 2021, consisting of a prepayment premium due to early redemption and a write-off of unamortized debt issuance costs.
Reconciliation of Assets from Segment to Consolidated
The following tables show total assets by segment at December 31, 2021 and 2020:
December 31, 2021
(In thousands)NorthernSouthernCorporate, Financial Services and UnallocatedTotal
Deposits on real estate under option or contract$4,123 $48,795 $— $52,918 
Inventory (a)
987,258 1,412,258 — 2,399,516 
Investments in joint venture arrangements— 57,121 — 57,121 
Other assets37,527 63,844 
(b)
628,927 

730,298 
Total assets$1,028,908 $1,582,018 $628,927 $3,239,853 
December 31, 2020
(In thousands)NorthernSouthernCorporate, Financial Services and UnallocatedTotal
Deposits on real estate under option or contract$5,031 $40,326 $— $45,357 
Inventory (a)
847,524 1,023,727 — 1,871,251 
Investments in joint venture arrangements1,378 33,295 — 34,673 
Other assets37,465 57,588 
(b)
596,711 691,764 
Total assets$891,398 $1,154,936 $596,711 $2,643,045 
(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.