Annual report pursuant to Section 13 and 15(d)

OPERATING AND REPORTING SEGMENTS (Tables)

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OPERATING AND REPORTING SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Schedule of Segment Information The following segment information is in thousands:
  Years Ended December 31,
  2019 2018 2017
Homebuilding revenue (1):
West $ 1,422,516    $ 1,436,334    $ 1,437,860   
Central 1,038,052    1,013,878    904,908   
East 1,189,915    1,063,207    884,004   
Consolidated total 3,650,483    3,513,419    3,226,772   
Homebuilding segment operating income:
West 141,435    134,852    129,781   
Central 101,686    92,925    92,451   
East 87,285    59,522    32,089   
Total homebuilding segment operating income 330,406    287,299    254,321   
Financial services segment profit 20,579    24,044    22,055   
Corporate and unallocated costs (2) (43,612)   (38,521)   (33,510)  
Interest expense (8,370)   (785)   (3,853)  
Other income, net (3) 9,577    11,217    8,784   
Loss on early extinguishment of debt (5,635)   —    (278)  
Net earnings before income taxes $ 302,945    $ 283,254    $ 247,519   
 

(1)Homebuilding revenue includes the following land closing revenue, by segment:
Years Ended December 31,
Land closing revenue: 2019 2018 2017
West $ 12,463    $ 18,508    $ 18,116   
Central 4,297    7,657    622   
East 29,094    12,542    21,259   
Total $ 45,854    $ 38,707    $ 39,997   
(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.
(3)For the year ended December 31, 2018, Other income, net includes a favorable $4.8 million legal settlement from long-standing litigation related to a previous joint venture in Nevada.
Schedule of Land Closing Revenue Homebuilding revenue includes the following land closing revenue, by segment:
Years Ended December 31,
Land closing revenue: 2019 2018 2017
West $ 12,463    $ 18,508    $ 18,116   
Central 4,297    7,657    622   
East 29,094    12,542    21,259   
Total $ 45,854    $ 38,707    $ 39,997   
Schedule of Segment Assets
  At December 31, 2019
  West Central East Financial Services Corporate and
Unallocated		 Total
Deposits on real estate under option or contract $ 10,568    $ 10,963    $ 29,370    $ —    $ —    $ 50,901   
Real estate 1,223,949    708,786    811,626    —    —    2,744,361   
Investments in unconsolidated entities 260    3,508    —    —    675    4,443   
Other assets 58,173    (1)   107,791    (2)   83,475    (3)   765    348,340    (4)   598,544   
Total assets $ 1,292,950    $ 831,048    $ 924,471    $ 765    $ 349,015    $ 3,398,249   
 
(1)Balance consists primarily of cash and property and equipment.
(2)Balance consists primarily of development reimbursements from local municipalities and prepaid expenses and other assets.
(3)Balance consists primarily of goodwill, prepaid expenses and other assets, and property and equipment.
(4)Balance consists primarily of cash.

  At December 31, 2018
  West Central East Financial Services Corporate  and
Unallocated		 Total
Deposits on real estate under option or contract $ 7,514    $ 13,870    $ 30,026    $ —    $ —    $ 51,410   
Real estate 1,188,975    679,422    874,224    —    —    2,742,621   
Investments in unconsolidated entities 8,320    6,396    —    —    2,764    17,480   
Other assets 51,115    (1)   117,150    (2)   85,869    (3)   1,013    298,821    (4)   553,968   
Total assets $ 1,255,924    $ 816,838    $ 990,119    $ 1,013    $ 301,585    $ 3,365,479   

(1)Balance consists primarily of cash and property and equipment.
(2)Balance consists primarily of development reimbursements from local municipalities and cash.
(3)Balance consists primarily of goodwill, cash and property and equipment.
(4)Balance consists primarily of cash.