Quarterly report pursuant to Section 13 or 15(d)

OPERATING AND REPORTING SEGMENTS (Tables)

v3.5.0.2
OPERATING AND REPORTING SEGMENTS (Tables)
9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Schedule of Segment Information
The following segment information is in thousands: 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Homebuilding revenue (1):
 
 
 
 
 
 
 
West
$
330,805

 
$
270,202

 
$
924,494

 
$
696,854

Central
200,446

 
191,132

 
571,036

 
524,633

East
221,606

 
208,622

 
652,989

 
564,982

Consolidated total
$
752,857

 
$
669,956

 
$
2,148,519

 
$
1,786,469

Homebuilding segment operating income:
 
 
 
 
 
 
 
West
$
27,829

 
$
24,347

 
$
71,387

 
$
53,800

Central
18,635

 
19,524

 
52,313

 
54,682

East
9,737

 
13,849

 
27,918

 
35,427

Total homebuilding segment operating income
56,201

 
57,720

 
151,618

 
143,909

Financial services segment profit
5,956

 
5,601

 
15,765

 
13,517

Corporate and unallocated costs (2)
(10,063
)
 
(8,347
)
 
(24,652
)
 
(28,225
)
Earnings/(loss) from other unconsolidated entities, net
440

 
(123
)
 
856

 
(415
)
Interest expense
(167
)
 
(4,187
)
 
(5,127
)
 
(11,962
)
Other income, net
1,435

 
(3,996
)
 
3,263

 
(3,445
)
Net earnings before income taxes
$
53,802

 
$
46,668

 
$
141,723

 
$
113,379

 

(1)
Homebuilding revenue includes the following land closing revenue, by segment, as outlined in the table below.
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Land closing revenue:
 
 
 
 
 
 
 
West
$
15,543

 
$

 
$
15,608

 
$

Central
947

 
7,677

 
4,659

 
14,194

East
497

 
395

 
920

 
2,091

Total
$
16,987

 
$
8,072

 
$
21,187

 
$
16,285


(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.
Schedule of Segment Assets
 
 
At September 30, 2016
 
 
West
 
Central
 
East
 
Financial Services
 
Corporate and
Unallocated
 
Total
Deposits on real estate under option or contract
 
$
26,027

 
$
29,757

 
$
35,269

 
$

 
$

 
$
91,053

Real estate
 
1,145,566

 
590,472

 
692,976

 

 

 
2,429,014

Investments in unconsolidated entities
 
382

 
9,623

 

 

 
1,826

 
11,831

Other assets
 
59,158

 
87,842

(1)
76,465

(2)
847

 
116,945

(3)
341,257

Total assets
 
$
1,231,133

 
$
717,694

 
$
804,710

 
$
847

 
$
118,771

 
$
2,873,155

 
 
 
At December 31, 2015
 
 
West
 
Central
 
East
 
Financial Services
 
Corporate and
Unallocated
 
Total
Deposits on real estate under option or contract
 
$
28,488

 
$
30,241

 
$
29,110

 
$

 
$

 
$
87,839

Real estate
 
1,008,457

 
505,954

 
583,891

 

 

 
2,098,302

Investments in unconsolidated entities
 
204

 
8,704

 

 

 
2,462

 
11,370

Other assets
 
55,112

 
87,313

(1)
77,548

(2)
898

 
261,395

(3)
482,266

Total assets
 
$
1,092,261

 
$
632,212

 
$
690,549

 
$
898

 
$
263,857

 
$
2,679,777

(1)
Balance consists primarily of development reimbursements from local municipalities and cash.
(2)
Balance consists primarily of goodwill (see Note 9), prepaid permits and fees to local municipalities and cash.
(3)
Balance consists primarily of cash and our deferred tax assets.