| Segment information on operating results |
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Three Months Ended March 31, |
|
2014 |
|
2013 |
Homebuilding revenue (1): |
|
|
|
West |
$ |
192,681 |
|
|
$ |
189,205 |
|
Central |
119,715 |
|
|
90,789 |
|
East |
95,949 |
|
|
56,441 |
|
Consolidated total |
$ |
408,345 |
|
|
$ |
336,435 |
|
Homebuilding segment operating income: |
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|
West |
$ |
24,810 |
|
|
$ |
19,163 |
|
Central |
9,469 |
|
|
2,380 |
|
East |
10,664 |
|
|
3,236 |
|
Total homebuilding segment operating income |
44,943 |
|
|
24,779 |
|
Financial services profit |
3,025 |
|
|
3,056 |
|
Corporate and unallocated (2) |
(5,976 |
) |
|
(5,847 |
) |
Loss from other unconsolidated entities, net |
(169 |
) |
|
(155 |
) |
Interest expense |
(2,713 |
) |
|
(5,128 |
) |
Other income, net |
648 |
|
|
470 |
|
Loss on early extinguishment of debt |
— |
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|
(700 |
) |
Earnings before income taxes |
$ |
39,758 |
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|
$ |
16,475 |
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(1) |
Homebuilding revenue includes the following land closing revenue, by segment: |
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Three Months Ended March 31, |
|
2014 |
|
2013 |
Land closing revenue: |
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West |
$ |
1,050 |
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|
$ |
5,641 |
|
Central |
1,516 |
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|
84 |
|
East |
— |
|
|
— |
|
Consolidated total |
$ |
2,566 |
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|
$ |
5,725 |
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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 or financial services reporting segments. |
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| Total assets from segment |
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At March 31, 2014 |
|
West |
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Central |
|
East |
|
Financial Services |
|
Corporate and
Unallocated (1)
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|
Total |
Deposits on real estate under option or contract |
$ |
21,132 |
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|
$ |
19,602 |
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|
$ |
13,932 |
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|
$ |
— |
|
|
$ |
— |
|
|
$ |
54,666 |
|
Real estate |
861,229 |
|
|
412,153 |
|
|
264,836 |
|
|
— |
|
|
— |
|
|
1,538,218 |
|
Investments in unconsolidated entities |
203 |
|
|
8,634 |
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|
37 |
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|
— |
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|
882 |
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|
9,756 |
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Other assets (2) |
45,315 |
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|
182,718 |
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|
30,398 |
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|
544 |
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|
267,738 |
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|
526,713 |
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Total assets |
$ |
927,879 |
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|
$ |
623,107 |
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|
$ |
309,203 |
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|
$ |
544 |
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|
$ |
268,620 |
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|
$ |
2,129,353 |
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At December 31, 2013 |
|
West |
|
Central |
|
East |
|
Financial Services |
|
Corporate and
Unallocated (1)
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|
Total |
Deposits on real estate under option or contract |
$ |
26,415 |
|
|
$ |
12,198 |
|
|
$ |
12,982 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
51,595 |
|
Real estate |
800,288 |
|
|
369,464 |
|
|
235,547 |
|
|
— |
|
|
— |
|
|
1,405,299 |
|
Investments in unconsolidated entities |
204 |
|
|
8,941 |
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|
50 |
|
|
— |
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|
2,443 |
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|
11,638 |
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Other assets (2) |
26,900 |
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|
165,403 |
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|
31,372 |
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|
497 |
|
|
310,657 |
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|
534,829 |
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Total assets |
$ |
853,807 |
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|
$ |
556,006 |
|
|
$ |
279,951 |
|
|
$ |
497 |
|
|
$ |
313,100 |
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$ |
2,003,361 |
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(1) Balance consists primarily of corporate assets not allocated to the reporting segments.
(2) Balance consists primarily of cash and securities and our deferred tax asset.
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