Segment Information (Tables)

12 Months Ended

Dec. 31, 2019



	Operating Data by Segment ($000’s omitted) Years Ended December 31,
	2019			2018			2017
Revenues:
Northeast	$	797,963		$	839,700		$	693,877
Southeast	1,684,655			1,746,161			1,564,116
Florida	2,074,194			1,944,170			1,494,389
Midwest	1,495,037			1,497,389			1,450,192
Texas	1,389,211			1,301,004			1,168,755
West	2,537,466			2,654,525			2,014,197
	9,978,526			9,982,949			8,385,526
Financial Services	234,431			205,382			192,160
Consolidated revenues	$	10,212,957		$	10,188,331		$	8,577,686

Income before income taxes (a):
Northeast	$	116,221		$	29,629		$	21,190
Southeast (b)	175,763			202,639			122,532
Florida (b)	309,596			289,418			208,825
Midwest	184,438			179,568			178,231
Texas	195,751			193,946			182,862
West (c)	386,361			511,828			229,504
Other homebuilding (d)	(131,869		)	(118,224		)	(77,812		)
	1,236,261			1,288,804			865,332
Financial Services	103,315			58,736			73,496
Consolidated income before income taxes	$	1,339,576		$	1,347,540		$	938,828


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


(b)	Includes warranty charges totaling $14.8 million in 2019 related to a closed-out community in Southeast and $12.4 million in 2017 related to a closed-out community in Florida (see Note 11).


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

(d)

Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. Also included are write-offs of insurance receivables associated with the resolution of certain insurance matters totaling $22.6 million and $29.6 million in 2019 and 2017, respectively (see Note 11), and general liability insurance reserve reversals of $49.4 million, $35.9 million, and $97.8 million in 2019, 2018 and 2017, respectively (see Note 11).



	Operating Data by Segment ($000's omitted) Years Ended December 31,
	2019		2018		2017
Land-related charges*:
Northeast	$	1,122	$	74,488	$	51,362
Southeast	15,697		8,140		55,689
Florida	2,811		1,166		9,702
Midwest	2,581		7,361		8,917
Texas	1,151		1,204		2,521
West	2,568		5,159		56,996
Other homebuilding	1,171		1,928		6,726
	$	27,101	$	99,446	$	191,913



	Operating Data by Segment ($000's omitted) Years Ended December 31,
	2019		2018		2017
Land-related charges*:
Northeast	$	1,122	$	74,488	$	51,362
Southeast	15,697		8,140		55,689
Florida	2,811		1,166		9,702
Midwest	2,581		7,361		8,917
Texas	1,151		1,204		2,521
West	2,568		5,159		56,996
Other homebuilding	1,171		1,928		6,726
	$	27,101	$	99,446	$	191,913

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,
	2019		2018		2017
Depreciation and amortization:
Northeast	$	1,962	$	2,093	$	2,392
Southeast	4,448		5,231		5,117
Florida	5,775		4,893		4,883
Midwest	4,417		4,271		4,449
Texas	3,423		3,082		3,301
West	9,317		6,758		5,828
Other homebuilding (a)	19,553		18,908		21,326
	48,895		45,236		47,296
Financial Services	5,104		4,193		3,702
	$	53,999	$	49,429	$	50,998

(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, 2019
	Homes Under Construction		Land Under Development		Raw Land		Total Inventory		Total Assets
Northeast	$	345,644	$	242,666	$	25,098	$	613,408	$	698,661
Southeast	430,008		724,258		72,804		1,227,070		1,354,086
Florida	539,895		894,716		99,228		1,533,839		1,700,198
Midwest	315,822		464,733		31,881		812,436		886,889
Texas	343,230		447,707		84,926		875,863		949,236
West	881,551		1,289,255		105,606		2,276,412		2,538,803
Other homebuilding (a)	42,866		283,772		14,948		341,586		1,953,440
	2,899,016		4,347,107		434,491		7,680,614		10,081,313
Financial Services	—		—		—		—		634,284
	$	2,899,016	$	4,347,107	$	434,491	$	7,680,614	$	10,715,597

	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

Total Assets And Inventory By Reporting Segment



	Operating Data by Segment
	($000's omitted)
	December 31, 2019
	Homes Under Construction		Land Under Development		Raw Land		Total Inventory		Total Assets
Northeast	$	345,644	$	242,666	$	25,098	$	613,408	$	698,661
Southeast	430,008		724,258		72,804		1,227,070		1,354,086
Florida	539,895		894,716		99,228		1,533,839		1,700,198
Midwest	315,822		464,733		31,881		812,436		886,889
Texas	343,230		447,707		84,926		875,863		949,236
West	881,551		1,289,255		105,606		2,276,412		2,538,803
Other homebuilding (a)	42,866		283,772		14,948		341,586		1,953,440
	2,899,016		4,347,107		434,491		7,680,614		10,081,313
Financial Services	—		—		—		—		634,284
	$	2,899,016	$	4,347,107	$	434,491	$	7,680,614	$	10,715,597

	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

(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.