Quarterly report pursuant to Section 13 or 15(d)

Operating and Reporting Segments (Tables)

v2.4.0.6
Operating and Reporting Segments (Tables)
9 Months Ended
Sep. 30, 2012
Segment Reporting [Abstract]  
Segment information on operating results
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2012
 
2011
 
2012
 
2011
Revenue (1):
 
 
 
 
 
 
 
West
$
97,249

 
$
32,930

 
$
184,365

 
$
88,290

Central
193,784

 
156,935

 
510,110

 
458,623

East
51,610

 
27,669

 
134,613

 
68,341

Consolidated total
342,643

 
217,534

 
829,088

 
615,254

Operating income/(loss) (2):
 
 
 
 
 
 
 
West
8,665

 
363

 
10,621

 
(84
)
Central
12,327

 
5,128

 
27,674

 
17,203

East
3,691

 
1,721

 
9,768

 
5,962

Segment operating income
24,683

 
7,212

 
48,063

 
23,081

Corporate and unallocated (3)
(7,323
)
 
(5,443
)
 
(17,233
)
 
(15,620
)
Earnings from unconsolidated entities, net
2,975

 
1,797

 
6,626

 
3,931

Interest expense
(5,009
)
 
(7,517
)
 
(18,718
)
 
(23,036
)
Other (expense)/income, net
(8,340
)
 
876

 
(7,712
)
 
2,872

Loss on extinguishment of debt

 

 
(5,772
)
 

Income/(loss) before income taxes
$
6,986

 
$
(3,075
)
 
$
5,254

 
$
(8,772
)
 
(1)
Revenue includes the following land closing revenue, by segment: three months ended September 30, 2012$4.4 million in the West Region, $2.6 million in the Central Region, $0.8 million in the East Region; nine months ended September 30, 2012$4.4 million in the West Region, $3.6 million in the Central Region, $0.8 million in the East Region; nine months ended September 30, 2011$100,000 in the Central Region.
(2)
See Note 2 of this Quarterly Report on Form 10-Q for a breakout of real estate-related impairments by region.
(3)
Balance consists primarily of corporate costs and numerous shared service functions such as finance and treasury that are not allocated to the reporting segments.
Total assets from segment
 
At September 30, 2012
 
West
 
Central
 
East
 
Corporate and
Unallocated (1)
 
Total
Deposits on real estate under option or contract
$
3,516

 
$
8,367

 
$
1,100

 
$

 
$
12,983

Real estate
204,737

 
672,037

 
128,051

 

 
1,004,825

Investments in unconsolidated entities
177

 
10,983

 
13

 
835

 
12,008

Other assets
18,417

 
145,271

 
21,264

 
266,434

 
451,386

Total assets
$
226,847

 
$
836,658

 
$
150,428

 
$
267,269

 
$
1,481,202


 
 
At December 31, 2011
 
West
 
Central
 
East
 
Corporate and
Unallocated (1)
 
Total
Deposits on real estate under option or contract
$
3,216

 
$
11,158

 
$
834

 
$

 
$
15,208

Real estate
207,656

 
529,885

 
77,884

 

 
815,425

Investments in unconsolidated entities
176

 
10,245

 
14

 
653

 
11,088

Other assets
8,911

 
90,532

 
8,842

 
271,372

 
379,657

Total assets
$
219,959

 
$
641,820

 
$
87,574

 
$
272,025

 
$
1,221,378

 
(1)
Balance consists primarily of cash and other corporate assets not allocated to the reporting segments.