Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Components of Reportable Segments

For reporting purposes, our Homebuilding operations are aggregated into six reportable segments:

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

Operating Data By Reporting Segment

	Operating Data by Segment ($000’s omitted)
	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2020		2019			2020			2019
Revenues:
Northeast	$	141,478	$	200,237		$	303,912		$	310,729
Southeast	457,863		409,121			840,257			784,538
Florida	581,520		535,153			1,088,209			931,597
Midwest	339,680		350,584			631,849			644,174
Texas	365,348		342,886			710,086			611,889
West	613,090		595,047			1,165,096			1,102,933
	2,498,979		2,433,028			4,739,409			4,385,860
Financial Services	94,802		55,957			149,352			99,819
Consolidated revenues	$	2,593,781	$	2,488,985		$	4,888,761		$	4,485,679
Income (loss) before income taxes:
Northeast	$	18,944	$	26,212		$	37,553		$	34,140
Southeast	72,780		42,499			127,524			80,355
Florida (a)	97,263		80,066			152,596			129,662
Midwest	43,607		42,962			75,069			69,120
Texas	59,909		49,144			113,504			80,115
West	90,164		94,443			157,419			184,625
Other homebuilding (b)	13,918		(39,628		)	(22,861		)	(78,024		)
	396,585		295,698			640,804			499,993
Financial Services	60,424		25,078			79,974			37,486
Consolidated income before income taxes	$	457,009	$	320,776		$	720,778		$	537,479

(a) Includes goodwill impairment charge totaling $20.2 million (see Note 1) in the six months ended June 30, 2020.

(b) Other homebuilding includes the amortization of intangible assets and capitalized interest and other items not allocated to the operating segments. Other homebuilding also includes net insurance reserve reversals of $60.7 million and $59.4 million for the three and six months ended June 30, 2020, respectively, and $12.8 million and $16.6 million for the three and six months ended June 30, 2019.

	Operating Data by Segment ($000’s omitted)
	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Land-related charges*:
Northeast	$	92	$	130	$	4,845	$	454
Southeast	929		2,015		1,676		2,587
Florida	459		765		981		1,246
Midwest	499		203		1,275		1,306
Texas	329		414		986		482
West	145		216		1,674		647
Other homebuilding	—		88		744		88
	$	2,453	$	3,831	$	12,181	$	6,810

*

Land-related charges include land impairments, NRV adjustments on land held for sale, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue.

Total Assets And Inventory By Reporting Segment

	Operating Data by Segment
	($000's omitted)
	June 30, 2020
	Homes Under Construction		Land Under Development		Raw Land		Total Inventory		Total Assets
Northeast	$	393,329	$	215,468	$	23,910	$	632,707	$	723,207
Southeast	429,024		674,337		60,516		1,163,877		1,317,066
Florida	567,963		885,307		92,112		1,545,382		1,838,880
Midwest	372,744		412,438		16,477		801,659		908,805
Texas	311,896		448,418		69,927		830,241		909,554
West	1,004,927		1,214,046		106,515		2,325,488		2,681,671
Other homebuilding (a)	45,486		226,478		13,421		285,385		2,041,189
	3,125,369		4,076,492		382,878		7,584,739		10,420,372
Financial Services	—		—		—		—		538,113
	$	3,125,369	$	4,076,492	$	382,878	$	7,584,739	$	10,958,485

	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

(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.