Segment Information

12 Months Ended

Dec. 31, 2022

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 $13.5 billion and $2.3 billion in 2022, $11.2 billion and $2.2 billion in 2021, and $8.9 billion and $1.6 billion in 2020, respectively. 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, Colorado, Nevada, New Mexico, Washington

We also have a reportable segment for our Financial Services operations, which consist principally of mortgage banking, title, and insurance brokerage 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,
	2022		2021		2020
Revenues:
Northeast	$	1,077,514	$	1,127,476	$	846,337
Southeast	2,795,640		2,234,297		1,691,822
Florida	3,981,766		3,154,583		2,350,055
Midwest	2,318,255		1,979,997		1,514,132
Texas	2,239,822		1,805,208		1,451,104
West	3,504,282		3,235,789		2,820,463
	15,917,279		13,537,350		10,673,913
Financial Services	311,716		389,532		362,169
Consolidated revenues	$	16,228,995	$	13,926,882	$	11,036,082
Income before income taxes (a):
Northeast	$	244,233	$	215,193	$	136,985
Southeast	692,279		417,880		258,794
Florida (b)	939,034		585,680		362,276
Midwest	363,028		287,956		213,516
Texas	465,461		322,979		242,383
West (c)	687,403		592,845		424,304
Other homebuilding (d)	(84,110)		(134,405)		(96,201)
	3,307,328		2,288,128		1,542,057
Financial Services	132,230		221,717		186,637
Consolidated income before income taxes	$	3,439,558	$	2,509,845	$	1,728,694

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

(b)    Includes goodwill impairment charge totaling $20.2 million in 2020 (see Note 1).

(c)    West includes a gain of $49.1 million related to a property sale in an unconsolidated entity in 2022.

(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 insurance reserve reversals of $65.0 million, $81.1 million, and $93.4 million in 2022, 2021 and 2020, respectively, partially offset by reserves against insurance receivables of $17.8 million in 2020 (see Note 11) and a loss on debt retirement of $61.5 million in 2021 (see Note 5).

	Operating Data by Segment ($000's omitted) Years Ended December 31,
	2022		2021		2020
Land-related charges*:
Northeast	$	4,597	$	1,433	$	5,301
Southeast	18,381		5,365		3,815
Florida	13,515		1,088		1,395
Midwest	6,517		2,150		2,390
Texas	6,745		1,357		4,588
West	16,406		909		1,936
Other homebuilding	495		—		880
	$	66,656	$	12,302	$	20,305

*    Land-related charges include land impairments, NRV adjustments for land held for sale, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue. See Note 2 for additional discussion of these charges.

	Operating Data by Segment ($000's omitted) Years Ended December 31,
	2022		2021		2020
Depreciation and amortization:
Northeast	$	2,956	$	2,631	$	2,454
Southeast	5,151		4,765		4,308
Florida	11,720		8,823		7,478
Midwest	7,035		6,332		5,329
Texas	5,591		4,989		3,631
West	11,840		11,898		11,450
Other homebuilding	19,929		24,811		26,459
	64,222		64,249		61,109
Financial Services	6,696		5,704		4,972
	$	70,918	$	69,953	$	66,081

	Operating Data by Segment
	($000's omitted)
	December 31, 2022
	Homes Under Construction		Land Under Development		Raw Land		Consolidated Inventory Not Owned		Total Inventory		Total Assets
Northeast	$	321,687	$	241,897	$	45,455	$	—	$	609,039	$	700,413
Southeast	793,539		544,867		102,336		20,169		1,460,911		1,668,053
Florida	1,417,657		1,081,836		125,253		51,889		2,676,635		3,195,091
Midwest	523,194		689,541		22,467		—		1,235,202		1,382,227
Texas	690,622		726,342		133,300		—		1,550,264		1,735,683
West	1,662,251		1,528,863		238,758		—		3,429,872		3,771,808
Other homebuilding (a)	31,236		321,086		11,772		—		364,094		1,470,919
	5,440,186		5,134,432		679,341		72,058		11,326,017		13,924,194
Financial Services	—		—		—		—		—		872,321
	$	5,440,186	$	5,134,432	$	679,341	$	72,058	$	11,326,017	$	14,796,515
	December 31, 2021
	Homes Under Construction		Land Under Development		Raw Land		Consolidated Inventory Not Owned		Total Inventory		Total Assets
Northeast	$	285,975	$	246,128	$	17,554	$	—	$	549,657	$	644,019
Southeast	604,310		537,072		67,815		—		1,209,197		1,362,852
Florida	943,110		866,266		289,388		—		2,098,764		2,545,457
Midwest	527,001		460,279		15,869		—		1,003,149		1,132,081
Texas	581,417		512,925		95,833		—		1,190,175		1,315,943
West	1,235,457		1,191,834		227,850		—		2,655,141		2,955,283
Other homebuilding (a)	48,039		276,511		16,936		—		341,486		2,314,839
	4,225,309		4,091,015		731,245		—		9,047,569		12,270,474
Financial Services	—		—		—		—		—		1,082,157
	$	4,225,309	$	4,091,015	$	731,245	$	—	$	9,047,569	$	13,352,631

(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.