Segment Information (Tables)

12 Months Ended

Dec. 31, 2018



	Operating Data by Segment ($000’s omitted) Years Ended December 31,
	2018			2017			2016
Revenues:
Northeast	$	839,700		$	693,877		$	699,718
Southeast	1,746,161			1,564,116			1,492,502
Florida	1,944,170			1,494,389			1,285,890
Midwest	1,497,389			1,450,192			1,235,198
Texas	1,301,004			1,168,755			1,035,428
West	2,654,525			2,014,197			1,746,668
	9,982,949			8,385,526			7,495,404
Financial Services	205,382			192,160			181,126
Consolidated revenues	$	10,188,331		$	8,577,686		$	7,676,530

Income before income taxes (a):
Northeast (b)	$	29,629		$	21,190		$	81,991
Southeast	202,639			122,532			145,011
Florida (c)	289,418			208,825			205,049
Midwest	179,568			178,231			120,159
Texas	193,946			182,862			152,355
West (d)	511,828			229,504			225,771
Other homebuilding (e)	(118,224		)	(77,812		)	(69,570		)
	1,288,804			865,332			860,766
Financial Services	58,736			73,496			73,084
Consolidated income before income taxes	$	1,347,540		$	938,828		$	933,850


(a)	Includes certain land-related charges (see the following table and Note 2).


(b)	Northeast includes a charge of $15.0 million in 2016 related to the settlement of a disputed land transaction (see Note 11).


(c)	Florida includes a warranty charge of $12.4 million in 2017 related to a closed-out community (see Note 11).


(d)	West includes gains of $26.4 million in 2018 related to two land sale transactions in California.

(e)

Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. Also includes: write-off of $29.6 million of insurance receivables associated with the resolution of certain insurance matters in 2017 (see Note 11); general liability insurance reserve reversals of $35.9 million, $97.8 million, and $57.1 million in 2018, 2017 and 2016, respectively (see Note 11); and costs associated with the relocation of our corporate headquarters totaling $8.3 million in 2016.



	Operating Data by Segment ($000's omitted) Years Ended December 31,
	2018		2017		2016
Land-related charges*:
Northeast	$	74,488	$	51,362	$	2,079
Southeast	8,140		55,689		3,089
Florida	1,166		9,702		715
Midwest	7,361		8,917		3,383
Texas	1,204		2,521		515
West	5,159		56,995		8,960
Other homebuilding	1,928		6,726		595
	$	99,446	$	191,912	$	19,336



	Operating Data by Segment ($000's omitted) Years Ended December 31,
	2018		2017		2016
Land-related charges*:
Northeast	$	74,488	$	51,362	$	2,079
Southeast	8,140		55,689		3,089
Florida	1,166		9,702		715
Midwest	7,361		8,917		3,383
Texas	1,204		2,521		515
West	5,159		56,995		8,960
Other homebuilding	1,928		6,726		595
	$	99,446	$	191,912	$	19,336

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 2 for additional discussion of these charges.

Depreciation and Amortization Expense by Reporting Segment



	Operating Data by Segment ($000's omitted) Years Ended December 31,
	2018		2017		2016
Depreciation and amortization:
Northeast	$	2,093	$	2,392	$	2,133
Southeast	5,231		5,117		5,350
Florida	4,893		4,883		4,955
Midwest	4,271		4,449		5,099
Texas	3,082		3,301		3,673
West	6,758		5,828		6,739
Other homebuilding (a)	18,908		21,326		22,467
	45,236		47,296		50,416
Financial Services	4,193		3,702		3,591
	$	49,429	$	50,998	$	54,007

(a)

Other homebuilding includes amortization of intangible assets

Equity in (Earnings) Loss of Unconsolidated Entities by Reporting Segment



	Operating Data by Segment
	($000's omitted)
	December 31, 2018
	Homes Under Construction		Land Under Development		Raw Land		Total Inventory		Total Assets
Northeast	$	268,900	$	291,467	$	52,245	$	612,612	$	704,515
Southeast	443,140		676,087		90,332		1,209,559		1,347,427
Florida	467,625		892,669		85,321		1,445,615		1,601,906
Midwest	314,442		433,056		29,908		777,406		849,596
Texas	284,405		427,124		98,415		809,944		881,629
West	805,709		1,131,841		118,579		2,056,129		2,208,092
Other homebuilding (a)	45,937		276,981		19,170		342,088		2,006,825
	2,630,158		4,129,225		493,970		7,253,353		9,599,990
Financial Services							—		572,986
	$	2,630,158	$	4,129,225	$	493,970	$	7,253,353	$	10,172,976

	December 31, 2017
	Homes Under Construction		Land Under Development		Raw Land		Total Inventory		Total Assets
Northeast	$	234,413	$	327,599	$	73,574	$	635,586	$	791,511
Southeast	433,411		613,626		121,238		1,168,275		1,287,992
Florida	359,651		876,856		109,069		1,345,576		1,481,837
Midwest	299,896		476,694		28,482		805,072		877,282
Texas	251,613		435,018		87,392		774,023		859,847
West	798,706		1,137,940		147,493		2,084,139		2,271,328
Other homebuilding (a)	43,715		268,081		22,663		334,459		1,469,234
	2,421,405		4,135,814		589,911		7,147,130		9,039,031
Financial Services	—		—		—		—		647,618
	$	2,421,405	$	4,135,814	$	589,911	$	7,147,130	$	9,686,649

	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 (a)	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

Total Assets And Inventory By Reporting Segment



	Operating Data by Segment
	($000's omitted)
	December 31, 2018
	Homes Under Construction		Land Under Development		Raw Land		Total Inventory		Total Assets
Northeast	$	268,900	$	291,467	$	52,245	$	612,612	$	704,515
Southeast	443,140		676,087		90,332		1,209,559		1,347,427
Florida	467,625		892,669		85,321		1,445,615		1,601,906
Midwest	314,442		433,056		29,908		777,406		849,596
Texas	284,405		427,124		98,415		809,944		881,629
West	805,709		1,131,841		118,579		2,056,129		2,208,092
Other homebuilding (a)	45,937		276,981		19,170		342,088		2,006,825
	2,630,158		4,129,225		493,970		7,253,353		9,599,990
Financial Services							—		572,986
	$	2,630,158	$	4,129,225	$	493,970	$	7,253,353	$	10,172,976

	December 31, 2017
	Homes Under Construction		Land Under Development		Raw Land		Total Inventory		Total Assets
Northeast	$	234,413	$	327,599	$	73,574	$	635,586	$	791,511
Southeast	433,411		613,626		121,238		1,168,275		1,287,992
Florida	359,651		876,856		109,069		1,345,576		1,481,837
Midwest	299,896		476,694		28,482		805,072		877,282
Texas	251,613		435,018		87,392		774,023		859,847
West	798,706		1,137,940		147,493		2,084,139		2,271,328
Other homebuilding (a)	43,715		268,081		22,663		334,459		1,469,234
	2,421,405		4,135,814		589,911		7,147,130		9,039,031
Financial Services	—		—		—		—		647,618
	$	2,421,405	$	4,135,814	$	589,911	$	7,147,130	$	9,686,649

	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 (a)	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

(a)

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.