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Segment Information, Nature of Operations, and Certain Concentrations (Tables)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Revenues
The following tables present certain segment financial data, with reconciliations to the amounts reported for the consolidated company, where applicable:
 Year Ended December 31,
 202120202019
Revenues:   
Homebuilding Mid Atlantic$4,049,871 $3,668,542 $3,901,573 
Homebuilding North East767,828 538,772 514,804 
Homebuilding Mid East1,891,729 1,524,667 1,501,139 
Homebuilding South East1,992,265 1,596,908 1,303,328 
Mortgage Banking249,332 208,034 167,820 
Consolidated revenues$8,951,025 $7,536,923 $7,388,664 
Profit before Taxes
 Year Ended December 31,
 202120202019
Profit before taxes:   
Homebuilding Mid Atlantic$734,941 $437,849 $478,537 
Homebuilding North East105,432 50,677 51,728 
Homebuilding Mid East271,756 168,605 173,374 
Homebuilding South East329,982 205,029 155,144 
Mortgage Banking176,251 143,319 105,292 
Total segment profit1,618,362 1,005,479 964,075 
Reconciling items:   
Contract land deposit reserve adjustment (1)22,163 (24,633)1,644 
Equity-based compensation expense (2)(58,234)(50,794)(78,532)
Corporate capital allocation (3)252,787 239,233 224,468 
Unallocated corporate overhead(139,611)(114,921)(105,125)
Consolidation adjustments and other (4)(53,671)63,025 43,486 
Corporate interest expense(51,393)(39,356)(24,221)
Reconciling items sub-total(27,959)72,554 61,720 
Consolidated profit before taxes$1,590,403 $1,078,033 $1,025,795 

(1)This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments. See further discussion of contract land deposit impairment charges in Note 3.
(2)The decrease in equity-based compensation expense in 2020 was primarily attributable to stock options issued in 2014 under the 2014 Equity Incentive Plan becoming fully vested in 2019. In addition, there were higher stock option forfeitures in 2020 compared to 2019.
(3)This item represents the elimination of the corporate capital allocation charge included in the respective homebuilding reportable segments. The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the years presented:
 Year Ended December 31,
 202120202019
Corporate capital allocation charge:   
Homebuilding Mid Atlantic$124,316 $124,426 $123,130 
Homebuilding North East25,431 22,850 19,755 
Homebuilding Mid East43,686 40,256 37,263 
Homebuilding South East59,354 51,701 44,320 
Total corporate capital allocation charge$252,787 $239,233 $224,468 

(4)    The decrease in consolidation adjustments and other for 2021 compared to 2020 is driven by changes in lumber prices in 2021. Our reportable segments' results include the intercompany profits of our production facilities for home packages delivered to our homebuilding divisions. For homes not yet settled, these intercompany profits are reversed through the consolidation adjustments. Due to the significantly higher lumber prices in the first half of 2021, the previously reversed intercompany profits were recognized in subsequent quarters through the consolidation adjustment as homes were settled, and our consolidated homebuilding margins were negatively impacted by the higher lumber costs.
Assets
 As of December 31,
 20212020
Assets:  
Homebuilding Mid Atlantic$1,322,818 $1,140,910 
Homebuilding North East235,048 202,591 
Homebuilding Mid East438,700 377,448 
Homebuilding South East629,198 494,295 
Mortgage Banking371,685 555,278 
Total segment assets2,997,449 2,770,522 
Reconciling items:  
Cash and cash equivalents2,545,069 2,714,720 
Deferred taxes132,894 132,980 
Intangible assets and goodwill49,368 49,678 
Operating lease right-of-use assets59,010 53,110 
Finance lease right-of-use assets14,578 15,772 
Contract land deposit reserve(30,041)(52,205)
Consolidation adjustments and other66,148 92,564 
Reconciling items sub-total2,837,026 3,006,619 
Consolidated assets$5,834,475 $5,777,141 
Interest Income
 Year Ended December 31,
 202120202019
Interest income:   
Mortgage Banking$8,725 $8,930 $12,142 
Total segment interest income8,725 8,930 12,142 
Other unallocated interest income3,154 8,549 20,635 
Consolidated interest income$11,879 $17,479 $32,777 
Interest Expense
 Year Ended December 31,
 202120202019
Interest expense:   
Homebuilding Mid Atlantic$124,385 $124,486 $123,178 
Homebuilding North East25,463 22,859 19,804 
Homebuilding Mid East43,695 40,261 37,266 
Homebuilding South East59,381 51,729 44,334 
Mortgage Banking1,587 1,414 1,045 
Total segment interest expense254,511 240,749 225,627 
Corporate capital allocation (3)(252,787)(239,233)(224,468)
Senior Notes and other interest51,393 39,356 24,221 
Consolidated interest expense$53,117 $40,872 $25,380 
Depreciation and Amortization
 Year Ended December 31,
 202120202019
Depreciation and amortization:   
Homebuilding Mid Atlantic$6,183 $6,806 $7,069 
Homebuilding North East1,628 1,800 1,411 
Homebuilding Mid East4,259 4,969 4,348 
Homebuilding South East3,325 3,636 3,086 
Mortgage Banking1,283 1,534 1,581 
Total segment depreciation and amortization16,678 18,745 17,495 
Unallocated corporate2,785 3,247 3,323 
Consolidated depreciation and amortization$19,463 $21,992 $20,818 
Expenditures for Property and Equipment
 Year Ended December 31,
 202120202019
Expenditures for property and equipment:   
Homebuilding Mid Atlantic$7,073 $5,712 $9,218 
Homebuilding North East1,062 1,083 2,000 
Homebuilding Mid East4,813 5,041 5,221 
Homebuilding South East4,142 3,818 3,944 
Mortgage Banking401 265 899 
Total segment expenditures for property and equipment17,491 15,919 21,282 
Unallocated corporate384 200 1,417 
Consolidated expenditures for property and equipment$17,875 $16,119 $22,699 
Corporate Capital Allocation Charge
 Year Ended December 31,
 202120202019
Corporate capital allocation charge:   
Homebuilding Mid Atlantic$124,316 $124,426 $123,130 
Homebuilding North East25,431 22,850 19,755 
Homebuilding Mid East43,686 40,256 37,263 
Homebuilding South East59,354 51,701 44,320 
Total corporate capital allocation charge$252,787 $239,233 $224,468