Annual report pursuant to Section 13 and 15(d)

Operating and Reporting Segments (Tables)

v2.4.1.9
Operating and Reporting Segments (Tables)
12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
Segment information on operating results
The following segment information is in thousands:
 
 
 
Years Ended December 31,
 
 
2014
 
2013
 
2012
Homebuilding revenue (1):
 
 
 
 
 
 
West
 
$
920,244

 
$
937,050

 
$
600,227

Central
 
692,320

 
508,961

 
392,678

East
 
557,079

 
368,648

 
200,769

Consolidated total
 
2,169,643

 
1,814,659

 
1,193,674

Homebuilding segment operating income:
 
 
 
 
 
 
West
 
102,640

 
131,352

 
44,727

Central
 
75,372

 
38,499

 
17,790

East
 
46,510

 
39,557

 
15,283

Total homebuilding segment operating income
 
224,522

 
209,408

 
77,800

Financial services segment profit
 
16,178

 
15,954

 
10,255

Corporate and unallocated costs (2)
 
(33,245
)
 
(31,216
)
 
(22,619
)
Loss from unconsolidated entities, net
 
(447
)
 
(378
)
 
(224
)
Interest expense
 
(5,163
)
 
(15,092
)
 
(24,244
)
Loss on early extinguishment of debt
 

 
(3,796
)
 
(5,772
)
Other income/(loss), net
 
6,572

 
$
2,792

 
(6,342
)
Net earnings before income taxes
 
$
208,417

 
$
177,672

 
$
28,854

 

(1)
Homebuilding revenue includes the following land closing revenue, by segment:
 
 
Years Ended December 31,
Land closing revenue:
 
2014
 
2013
 
2012
West
 
$
11,155

 
$
11,616

 
$
6,488

Central
 
8,603

 
16,184

 
2,036

East
 
7,494

 
3,470

 
790

Total
 
$
27,252

 
$
31,270

 
$
9,314



(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 reporting segments.
Total assets from segment
 
 
At December 31, 2014
 
 
West
 
Central
 
East
 
Financial Services
 
Corporate and
Unallocated
 
Total
Deposits on real estate under option or contract
 
$
34,622

 
$
31,317

 
$
29,050

 
$

 
$

 
$
94,989

Real estate
 
943,600

 
446,208

 
487,874

 

 

 
1,877,682

Investments in unconsolidated entities
 
204

 
8,561

 

 

 
2,015

 
10,780

Other assets
 
48,120

 
80,689

 
70,036

 
958

 
132,884

 
332,687

Total assets
 
$
1,026,546

 
$
566,775

 
$
586,960

 
$
958

 
$
134,899

 
$
2,316,138

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2013
 
 
West
 
Central
 
East
 
Financial Services
 
Corporate and
Unallocated
 
Total
Deposits on real estate under option or contract
 
$
26,415

 
$
12,198

 
$
12,982

 
$

 
$

 
$
51,595

Real estate
 
800,288

 
369,464

 
235,547

 

 

 
1,405,299

Investments in unconsolidated entities
 
204

 
8,941

 
50

 

 
2,443

 
11,638

Other assets
 
26,900

 
165,403

(1)
31,372

 
497

 
310,657

(1)
534,829

Total assets
 
$
853,807

 
$
556,006

 
$
279,951

 
$
497

 
$
313,100

 
$
2,003,361

 
(1) Balance consists primarily of cash and securities and our deferred tax asset.