Quarterly report pursuant to Section 13 or 15(d)

OPERATING AND REPORTING SEGMENTS (Tables)

v3.21.2
OPERATING AND REPORTING SEGMENTS (Tables)
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Schedule of Segment Information
  Three Months Ended June 30, Six Months Ended June 30,
  2021 2020 2021 2020
Homebuilding revenue (1):
West $ 452,165  $ 382,245  $ 845,595  $ 764,493 
Central 403,838  296,357  726,022  556,484 
East 421,596  354,477  789,763  613,115 
Consolidated total $ 1,277,599  $ 1,033,079  $ 2,361,380  $ 1,934,092 
Homebuilding segment operating income:
West $ 78,938  $ 44,742  $ 143,189  $ 86,636 
Central 84,965  37,895  141,958  66,814 
East 73,477  37,791  123,656  59,552 
Total homebuilding segment operating income 237,380  120,428  408,803  213,002 
Financial services segment profit 4,615  3,789  8,375  6,627 
Corporate and unallocated costs (2)
(9,456) (7,764) (19,370) (16,938)
Interest expense (77) (2,105) (167) (2,121)
Other income, net 1,377  1,514  2,175  2,125 
Loss on early extinguishment of debt (18,188) —  (18,188) — 
Net earnings before income taxes $ 215,651  $ 115,862  $ 381,628  $ 202,695 
 
(1)Homebuilding revenue includes the following land closing revenue, by segment, as outlined in the table below:
Three Months Ended June 30, Six Months Ended June 30,
2021 2020 2021 2020
Land closing revenue:
West $ 12,956  $ 456  $ 12,956  $ 4,974 
Central —  382  3,799  4,600 
East —  650  —  2,510 
Total $ 12,956  $ 1,488  $ 16,755  $ 12,084 
(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 June 30, 2021
  West Central East Financial Services Corporate  and
Unallocated		 Total
Deposits on real estate under option or contract $ 27,918  $ 14,214  $ 32,265  $ —  $ —  $ 74,397 
Real estate 1,395,152  952,733  903,902  —  —  3,251,787 
Investments in unconsolidated entities 207  3,002  —  —  734  3,943 
Other assets 59,078  (1) 162,813  (2) 75,701  (3) 641  693,193  (4) 991,426 
Total assets $ 1,482,355  $ 1,132,762  $ 1,011,868  $ 641  $ 693,927  $ 4,321,553 
(1)Balance consists primarily of cash and cash equivalents, development reimbursements from local municipalities and property and equipment.
(2)Balance consists primarily of cash and cash equivalents, development reimbursements from local municipalities and prepaid expenses and other assets.
(3)Balance consists primarily of cash and cash equivalents, goodwill, prepaid expenses and other assets and property and equipment.
(4)Balance consists primarily of cash and cash equivalents, deferred tax assets and prepaid expenses and other assets.
  At December 31, 2020
  West Central East Financial Services Corporate  and
Unallocated		 Total
Deposits on real estate under option or contract $ 22,493  $ 11,154  $ 25,887  $ —  $ —  $ 59,534 
Real estate 1,154,488  814,919  808,632  —  —  2,778,039 
Investments in unconsolidated entities 261  3,090  —  —  999  4,350 
Other assets 51,271  (1) 122,933  (2) 81,601  (3) 612  766,058  (4) 1,022,475 
Total assets $ 1,228,513  $ 952,096  $ 916,120  $ 612  $ 767,057  $ 3,864,398 
(1)Balance consists primarily of cash and cash equivalents and property and equipment.
(2)Balance consists primarily of cash and cash equivalents, development reimbursements from local municipalities and prepaids and other assets.
(3)Balance consists primarily of cash and cash equivalents, goodwill, prepaids and other assets and property and equipment.
(4)Balance consists primarily of cash and cash equivalents, deferred tax assets and prepaids and other assets.