Segment Information (Tables)

3 Months Ended

Dec. 31, 2016

Schedule of segment reporting information, by segment

The accounting policies of the reporting segments are described throughout Note A included in the Company’s annual report on Form 10-K for the fiscal year ended September 30, 2016. Financial information relating to the Company’s reporting segments is as follows:



	Three Months Ended December 31,
	2016			2015
	(In millions)
Revenues
Homebuilding revenues:
East	$	305.9		$	298.1
Midwest	151.1			123.3
Southeast	883.4			711.6
South Central	756.9			612.6
Southwest	108.6			73.9
West	620.2			541.6
Homebuilding revenues	2,826.1			2,361.1
Financial services revenues	78.1			55.3
Total revenues	$	2,904.2		$	2,416.4
Income Before Income Taxes (1) (2)
Homebuilding pre-tax income:
East	$	26.3		$	27.7
Midwest	10.2			7.0
Southeast	99.6			76.8
South Central	96.5			64.7
Southwest	4.0			2.7
West	57.3			50.0
Homebuilding pre-tax income	293.9			228.9
Financial services pre-tax income	26.5			12.3
Homebuilding and financial services pre-tax income	320.4			241.2
Other pre-tax (loss) income	(2.3		)	0.1
Income before income taxes	$	318.1		$	241.3

___________

(1)

Expenses maintained at the corporate level consist primarily of interest and property taxes, which are capitalized and amortized to cost of sales or expensed directly, and the expenses related to operating the Company’s corporate office. The amortization of capitalized interest and property taxes is allocated to each segment based on the segment’s cost of sales, while expenses associated with the corporate office are allocated to each segment based on the segment’s inventory balances.


(2)	The operating results of certain subsidiaries that were previously included with the Company’s homebuilding operations are now grouped together and presented as other. The operating results of these subsidiaries are immaterial for separate reporting. The prior year amounts have been reclassified to conform to the current year presentation.



	December 31, 2016		September 30, 2016
	(In millions)
Homebuilding Inventories (1)
East	$	969.8	$	891.1
Midwest	460.5		441.2
Southeast	2,197.3		2,070.3
South Central	2,138.8		2,075.6
Southwest	394.0		371.1
West	2,337.6		2,247.6
Corporate and unallocated (2)	244.4		244.0
Total homebuilding inventories	$	8,742.4	$	8,340.9

___________


(1)	Homebuilding inventories are the only assets included in the measure of homebuilding segment assets used by the Company’s chief operating decision makers.


(2)	Corporate and unallocated consists primarily of capitalized interest and property taxes.