| Segment information on operating results |
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Three Months Ended |
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March 31, |
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2013 |
|
2012 |
Homebuilding revenue (1): |
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West |
$ |
189,205 |
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|
$ |
94,701 |
|
Central |
90,789 |
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|
71,979 |
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East |
56,441 |
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|
37,670 |
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Consolidated total |
336,435 |
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|
204,350 |
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Homebuilding segment operating income: |
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West |
19,163 |
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|
3,241 |
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Central |
2,380 |
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|
316 |
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East |
3,236 |
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|
2,806 |
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Total homebuilding segment operating income |
24,779 |
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|
6,363 |
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Financial services profit |
3,056 |
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|
1,581 |
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Corporate and unallocated (2) |
(5,847 |
) |
|
(4,825 |
) |
Loss from other unconsolidated entities, net |
(155 |
) |
|
(183 |
) |
Interest expense |
(5,128 |
) |
|
(7,371 |
) |
Other income/(expense), net |
470 |
|
|
(139 |
) |
Loss on early extinguishment of debt |
(700 |
) |
|
— |
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Earnings/(loss) before income taxes |
$ |
16,475 |
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|
$ |
(4,574 |
) |
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(1) |
Homebuilding revenue includes the following land closing revenue, by segment: three months ended March 31, 2013— $5.6 million in the West Region, $0.1 million in the Central Region; three months ended March 31, 2012— $0.3 million in the Central Region.
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(2) |
Balance consists primarily of corporate costs and numerous shared service functions such as finance and treasury that are not allocated to the homebuilding reporting segments. |
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| Total assets from segment |
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At March 31, 2013 |
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West |
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Central |
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East |
|
Financial Services |
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Corporate and
Unallocated (1)
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|
Total |
Deposits on real estate under option or contract |
$ |
2,039 |
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$ |
5,858 |
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$ |
3,424 |
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$ |
— |
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$ |
— |
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|
$ |
11,321 |
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Real estate |
660,286 |
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|
318,961 |
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|
172,892 |
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— |
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— |
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|
1,152,139 |
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Investments in unconsolidated entities |
319 |
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|
9,589 |
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|
39 |
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— |
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|
1,002 |
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|
10,949 |
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Other assets |
30,372 |
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|
155,002 |
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|
16,562 |
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|
506 |
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|
394,134 |
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|
596,576 |
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Total assets |
$ |
693,016 |
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$ |
489,410 |
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$ |
192,917 |
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$ |
506 |
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$ |
395,136 |
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$ |
1,770,985 |
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At December 31, 2012 |
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West |
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Central |
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East |
|
Financial Services |
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Corporate and
Unallocated (1)
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Total |
Deposits on real estate under option or contract |
$ |
4,419 |
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$ |
7,168 |
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$ |
2,764 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
14,351 |
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Real estate |
647,316 |
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|
305,100 |
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|
160,771 |
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|
— |
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— |
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|
1,113,187 |
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Investments in unconsolidated entities |
365 |
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|
10,645 |
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|
16 |
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— |
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|
1,059 |
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|
12,085 |
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Other assets |
24,935 |
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|
132,546 |
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|
25,914 |
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|
297 |
|
|
252,247 |
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|
435,939 |
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Total assets |
$ |
677,035 |
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$ |
455,459 |
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$ |
189,465 |
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|
$ |
297 |
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|
$ |
253,306 |
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$ |
1,575,562 |
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(1) Balance consists primarily of cash and other corporate assets not allocated to the reporting segments.
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