Annual report pursuant to Section 13 and 15(d)

OPERATING AND REPORTING SEGMENTS (Tables)

v3.3.1.900
OPERATING AND REPORTING SEGMENTS (Tables)
12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Schedule of Segment Information
The following segment information is in thousands:
 
 
 
Years Ended December 31,
 
 
2015
 
2014
 
2013
Homebuilding revenue (1):
 
 
 
 
 
 
West
 
$
1,029,801

 
$
920,244

 
$
937,050

Central
 
731,766

 
692,320

 
508,961

East
 
806,515

 
557,079

 
368,648

Consolidated total
 
2,568,082

 
2,169,643

 
1,814,659

Homebuilding segment operating income:
 
 
 
 
 
 
West
 
85,760

 
102,640

 
131,352

Central
 
80,444

 
75,372

 
38,499

East
 
56,141

 
46,510

 
39,557

Total homebuilding segment operating income
 
222,345

 
224,522

 
209,408

Financial services segment profit
 
19,271

 
16,178

 
15,954

Corporate and unallocated costs (2)
 
(34,903
)
 
(33,245
)
 
(31,216
)
Loss from unconsolidated entities, net
 
(338
)
 
(447
)
 
(378
)
Interest expense
 
(15,965
)
 
(5,163
)
 
(15,092
)
Loss on early extinguishment of debt
 

 

 
(3,796
)
Other (loss)/income, net
 
(946
)
 
$
6,572

 
2,792

Net earnings before income taxes
 
$
189,464

 
$
208,417

 
$
177,672

 

(1)
Homebuilding revenue includes the following land closing revenue, by segment:
 
 
Years Ended December 31,
Land closing revenue:
 
2015
 
2014
 
2013
West
 
$
2,131

 
$
11,155

 
$
11,616

Central
 
26,448

 
8,603

 
16,184

East
 
7,947

 
7,494

 
3,470

Total
 
$
36,526

 
$
27,252

 
$
31,270



(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 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

 
272,140

(3
)
493,011

Total assets
 
$
1,092,261

 
$
632,212

 
$
690,549

 
$
898

 
$
274,602

 
$
2,690,522

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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

(1
)
70,036

(2
)
958

 
132,884

(3
)
332,687

Total assets
 
$
1,026,546

 
$
566,775

 
$
586,960

 
$
958

 
$
134,899

 
$
2,316,138



(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 asset.