Segment Information

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Segment information

Segment information

Our Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the U.S. and the construction of housing on such land. Home sale revenues for detached and attached homes were $6.5 billion and $996.4 million in 2016, $5.0 billion and $841.5 million in 2015, and $4.8 billion and $885.8 million in 2014, respectively. For reporting purposes, our Homebuilding operations are aggregated into six reportable segments:

Northeast:	Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia
Southeast:	Georgia, North Carolina, South Carolina, Tennessee
Florida:	Florida
Midwest:	Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio
Texas:	Texas
West:	Arizona, California, Nevada, New Mexico, Washington

We also have a reportable segment for our Financial Services operations, which consist principally of mortgage banking and title operations. The Financial Services segment operates generally in the same markets as the Homebuilding segments. Evaluation of segment performance is generally based on income before income taxes. Each reportable segment generally follows the same accounting policies described in Note 1.

	Operating Data by Segment ($000’s omitted) Years Ended December 31,
	2016			2015			2014
Revenues:
Northeast	$	696,463		$	682,112		$	710,859
Southeast (a)	1,491,270			1,058,089			949,635
Florida	1,284,753			1,019,733			917,956
Midwest	1,234,650			1,020,691			872,241
Texas	1,034,673			845,772			859,165
West	1,745,541			1,214,814			1,386,869
	7,487,350			5,841,211			5,696,725
Financial Services	181,126			140,753			125,638
Consolidated revenues	$	7,668,476		$	5,981,964		$	5,822,363
Income before income taxes:
Northeast (b)	$	81,991		$	82,616		$	103,865
Southeast (a)	145,011			172,330			156,513
Florida	205,049			196,525			190,441
Midwest	120,159			91,745			78,863
Texas	152,355			121,329			133,005
West	225,771			169,394			254,724
Other homebuilding (c)	(69,570		)	(76,622		)	(282,234		)
	860,766			757,317			635,177
Financial Services (d)	73,084			58,706			54,581
Consolidated income before income taxes	$	933,850		$	816,023		$	689,758

(a) Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1).

(b) Northeast includes a charge of $15.0 million in 2016 related to the settlement of a disputed land transaction and a charge of $20.0 million in 2015 resulting from the Applecross matter (see Note 12).

(c) Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments, in addition to: losses on debt retirements of $0.7 million and $8.6 million in 2016 and 2014, respectively (see Note 6); adjustments to insurance reserves relating to a reversal of $55.2 million in 2016, reversals totaling $62.2 million in 2015, and a charge of $69.3 million in 2014 (see Note 12); and costs associated with the relocation of our corporate headquarters totaling $8.3 million, $4.4 million, and$16.3 million in 2016, 2015, and 2014, respectively (see Note 2).

(d) Financial Services included reductions in loan origination liabilities totaling $11.8 million and $18.6 million in 2015 and 2014, respectively (see Note 12).

	Operating Data by Segment ($000's omitted) Years Ended December 31,
	2016		2015			2014
Land-related charges*:
Northeast	$	2,079	$	3,301		$	2,824
Southeast	3,089		3,022			1,826
Florida	715		4,555			487
Midwest	3,383		2,319			2,347
Texas	515		295			321
West	8,960		(2,615		)	1,696
Other homebuilding	595		590			1,667
	$	19,336	$	11,467		$	11,168

* Land-related charges include land impairments, net realizable value adjustments for land held for sale, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue. Other homebuilding consists primarily of write-offs of capitalized interest related to such land-related charges. See Note 1 for additional discussion of these charges.

	Operating Data by Segment ($000's omitted) Years Ended December 31,
	2016		2015		2014
Depreciation and amortization:
Northeast	$	2,133	$	1,682	$	1,852
Southeast	5,350		3,492		2,666
Florida	4,955		3,536		2,150
Midwest	5,099		5,019		3,153
Texas	3,673		2,928		1,698
West	6,739		5,995		5,263
Other homebuilding (a)	22,467		20,254		19,548
	50,416		42,906		36,330
Financial Services	3,591		3,316		3,534
	$	54,007	$	46,222	$	39,864

(a) Other homebuilding includes amortization of intangible assets.

	Operating Data by Segment ($000's omitted) Years Ended December 31,
	2016			2015			2014
Equity in (earnings) loss of unconsolidated entities:
Northeast	$	2		$	2		$	(4,733	)
Southeast	—			—			—
Florida	(10		)	2			(7		)
Midwest	78			(337		)	(481		)
Texas	—			—			—
West	(6,759		)	(5,107		)	(2,422		)
Other homebuilding	(1,117		)	(1,915		)	(583		)
	(7,806		)	(7,355		)	(8,226		)
Financial Services	(531		)	—			(182		)
	$	(8,337	)	$	(7,355	)	$	(8,408	)

	Operating Data by Segment
	($000's omitted)
	December 31, 2016
	Homes Under Construction		Land Under Development		Raw Land		Total Inventory		Total Assets
Northeast	$	175,253	$	375,899	$	135,447	$	686,599	$	798,369
Southeast (a)	354,047		650,805		148,793		1,153,645		1,243,188
Florida	309,525		683,376		183,168		1,176,069		1,330,847
Midwest	256,649		474,287		50,302		781,238		851,457
Texas	219,606		413,312		74,750		707,668		793,917
West	580,082		1,226,190		159,387		1,965,659		2,200,058
Other homebuilding (b)	26,097		248,240		25,440		299,777		2,351,082
	1,921,259		4,072,109		777,287		6,770,655		9,568,918
Financial Services	—		—		—		—		609,282
	$	1,921,259	$	4,072,109	$	777,287	$	6,770,655	$	10,178,200
	December 31, 2015
	Homes Under Construction		Land Under Development		Raw Land		Total Inventory		Total Assets
Northeast	$	163,173	$	292,631	$	121,522	$	577,326	$	688,610
Southeast	196,456		367,577		139,246		703,279		765,933
Florida	227,910		574,092		97,185		899,187		1,013,543
Midwest	197,738		414,386		68,918		681,042		734,834
Texas	191,424		317,702		107,737		616,863		691,342
West	413,208		1,094,112		222,920		1,730,240		1,924,958
Other homebuilding (b)	18,351		198,566		25,204		242,121		2,861,197
	1,408,260		3,259,066		782,732		5,450,058		8,680,417
Financial Services	—		—		—		—		508,989
	$	1,408,260	$	3,259,066	$	782,732	$	5,450,058	$	9,189,406
	December 31, 2014
	Homes Under Construction		Land Under Development		Raw Land		Total Inventory		Total Assets
Northeast	$	184,974	$	266,229	$	106,077	$	557,280	$	659,224
Southeast	147,506		304,762		117,981		570,249		605,067
Florida	150,743		350,016		112,225		612,984		717,531
Midwest	176,966		326,549		70,266		573,781		624,815
Texas	134,873		250,102		91,765		476,740		528,392
West	270,060		850,629		230,199		1,350,888		1,485,685
Other homebuilding (b)	19,015		196,762		34,401		250,178		3,518,508
	1,084,137		2,545,049		762,914		4,392,100		8,139,222
Financial Services	—		—		—		—		420,965
	$	1,084,137	$	2,545,049	$	762,914	$	4,392,100	$	8,560,187

(a) Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1).

(b) Other homebuilding primarily includes cash and equivalents, capitalized interest, intangibles, deferred tax assets, and other corporate items that are not allocated to the operating segments.