SUBSEQUENT EVENTS |
12 Months Ended |
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Dec. 31, 2024 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Stock Split
As discussed in Notes 1 and 9, on November 21, 2024, our Board of Directors declared a two-for-one stock split of Meritage’s common stock in the form of a stock dividend. Each stockholder of record at the close of business on December 31, 2024 received one additional share of common stock for each share of common stock held, payable after the close of market on January 2, 2025. Trading began on a split-adjusted basis on January 3, 2025. There was no adjustment to the number of authorized shares or the par value. All share and per share amounts in the accompanying consolidated financial statements have been retroactively adjusted to reflect the Stock Split for all periods presented.
Change in Segment Reporting
Effective the first day of fiscal 2025 (i.e., January 1, 2025), we realigned our internal organizational structure and resources following continued growth and recent entry into new markets. As a result of the change in our organizational
structure, the Tennessee homebuilding operating segment will be reclassified from the East reporting segment to the Central reporting segment for the purpose of making operational and resource decisions and assessing financial performance. The segment information presented in this Annual Report on Form 10-K does not reflect this change in the composition of our reportable segments, as the change did not take effect internally until the first quarter of fiscal 2025. We will begin reporting segment information based on this new segment structure in our Quarterly Report on Form 10-Q for the first quarter of fiscal 2025. For details on our reportable segments in fiscal 2024, see “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of this Annual Report on Form 10-K.
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