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, 2021
Segment Reporting [Abstract]  
Schedule of Segment Information The following segment information is in thousands:
  Years Ended December 31,
  2021 2020 2019
Homebuilding revenue (1):
West $ 1,935,845  $ 1,800,223  $ 1,422,516 
Central 1,504,481  1,282,339  1,038,052 
East 1,679,784  1,399,558  1,189,915 
Consolidated total 5,120,110  4,482,120  3,650,483 
Homebuilding segment operating income:
West 379,093  213,918  141,435 
Central 319,435  185,202  101,686 
East 302,487  157,971  87,285 
Total homebuilding segment operating income 1,001,015  557,091  330,406 
Financial services segment profit 18,034  16,388  20,579 
Corporate and unallocated costs (2) (50,573) (44,398) (43,612)
Interest expense (318) (2,177) (8,370)
Other income, net 4,864  6,662  9,577 
Loss on early extinguishment of debt (18,188) —  (5,635)
Net earnings before income taxes $ 954,834  $ 533,566  $ 302,945 
(1)Homebuilding revenue includes the following land closing revenue, by segment:
Years Ended December 31,
Land closing revenue: 2021 2020 2019
West $ 21,426  $ 4,974  $ 12,463 
Central 3,799  8,678  4,297 
East 12  4,079  29,094 
Total $ 25,237  $ 17,731  $ 45,854 

(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 Land Closing Revenue Homebuilding revenue includes the following land closing revenue, by segment:
Years Ended December 31,
Land closing revenue: 2021 2020 2019
West $ 21,426  $ 4,974  $ 12,463 
Central 3,799  8,678  4,297 
East 12  4,079  29,094 
Total $ 25,237  $ 17,731  $ 45,854 
Schedule of Segment Assets
  At December 31, 2021
  West Central East Financial Services Corporate and
Unallocated		 Total
Deposits on real estate under option or contract $ 26,687  $ 11,132  $ 52,860  $ —  $ —  $ 90,679 
Real estate 1,571,477  1,076,300  1,086,631  —  —  3,734,408 
Investments in unconsolidated entities 87  2,974  1,707  —  996  5,764 
Other assets 66,897  (1) 199,791  (2) 102,073  (3) 610  607,311  (4) 976,682 
Total assets $ 1,665,148  $ 1,290,197  $ 1,243,271  $ 610  $ 608,307  $ 4,807,533 
 
(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, real estate not owned, 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 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.