XML 46 R37.htm IDEA: XBRL DOCUMENT v3.20.1
OPERATING AND REPORTING SEGMENTS (Tables)
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Schedule of Segment Information
The following segment information is in thousands: 
 Three Months Ended March 31,
 20202019
Homebuilding revenue (1):
West$382,248  $272,966  
Central260,127  191,606  
East258,638  243,573  
Consolidated total$901,013  $708,145  
Homebuilding segment operating income:
West$41,894  $18,308  
Central28,919  12,336  
East21,761  9,693  
Total homebuilding segment operating income 92,574  40,337  
Financial services segment profit2,838  4,702  
Corporate and unallocated costs (2)
(9,174) (9,630) 
Interest expense(16) (4,085) 
Other income, net611  1,046  
Net earnings before income taxes$86,833  $32,370  
 
(1)Homebuilding revenue includes the following land closing revenue, by segment, as outlined in the table below:
Three Months Ended March 31,
20202019
Land closing revenue:
West$4,518  $—  
Central4,218  —  
East1,860  9,495  
Total$10,596  $9,495  
(2)Balance consists primarily of corporate costs and numerous shared service functions such as finance and treasury that are not allocated to the homebuilding or financial services reporting segments.
Schedule of Segment Assets
 At March 31, 2020
 WestCentralEastFinancial ServicesCorporate  and
Unallocated		Total
Deposits on real estate under option or contract$12,501  $14,304  $27,362  $—  $—  $54,167  
Real estate1,225,450  723,796  840,544  —  —  2,789,790  
Investments in unconsolidated entities261  2,516  —  —  502  3,279  
Other assets50,828  (1)110,932  (2)76,800  (3)611  828,049  (4)1,067,220  
Total assets$1,289,040  $851,548  $944,706  $611  $828,551  $3,914,456  

(1)Balance consists primarily of cash and property and equipment.
(2)Balance consists primarily of development reimbursements from local municipalities and prepaid expenses and other assets.
(3)Balance consists primarily of goodwill (see Note 9), prepaid expenses and other assets and property and equipment.
(4)Balance consists primarily of cash, our deferred tax asset and prepaid expenses and other assets. 
 At December 31, 2019
 WestCentralEastFinancial ServicesCorporate  and
Unallocated		Total
Deposits on real estate under option or contract$10,568  $10,963  $29,370  $—  $—  $50,901  
Real estate1,223,949  708,786  811,626  —  —  2,744,361  
Investments in unconsolidated entities260  3,508  —  —  675  4,443  
Other assets58,173  (1)107,791  (2)83,475  (3)765  348,340  (4)598,544  
Total assets$1,292,950  $831,048  $924,471  $765  $349,015  $3,398,249  
(1)Balance consists primarily of cash and property and equipment.
(2)Balance consists primarily of development reimbursements from local municipalities and prepaid expenses and other assets.
(3)Balance consists primarily of goodwill, prepaid expenses and other assets, and property and equipment.
(4)Balance consists primarily of cash.