Quarterly report pursuant to Section 13 or 15(d)

Operating and Reporting Segments (Tables)

v2.4.0.8
Operating and Reporting Segments (Tables)
9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
Segment information on operating results
The following segment information is in thousands:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Homebuilding revenue (1):
 
 
 
 
 
 
 
West
$
234,950

 
$
259,669

 
$
659,596

 
$
695,615

Central
179,761

 
139,307

 
459,619

 
357,406

East
142,065

 
93,104

 
351,510

 
225,444

Consolidated total
$
556,776

 
$
492,080

 
$
1,470,725

 
$
1,278,465

Homebuilding segment operating income:
 
 
 
 
 
 
 
West
$
22,204

 
$
41,298

 
$
74,398

 
$
95,356

Central
19,323

 
12,677

 
47,512

 
22,320

East
9,295

 
9,990

 
30,539

 
19,991

Total homebuilding segment operating income
50,822

 
63,965

 
152,449

 
137,667

Financial services profit
4,294

 
4,294

 
10,936

 
11,515

Corporate and unallocated (2)
(9,490
)
 
(8,662
)
 
(22,823
)
 
(22,011
)
(Loss)/earnings from other unconsolidated entities, net
(134
)
 
46

 
(364
)
 
(229
)
Interest expense
(460
)
 
(3,462
)
 
(4,569
)
 
(13,113
)
Other income, net
1,998

 
605

 
6,395

 
1,760

Loss on early extinguishment of debt

 

 

 
(3,796
)
Earnings before income taxes
$
47,030

 
$
56,786

 
$
142,024

 
$
111,793

 
(1)
Homebuilding revenue includes the following land closing revenue, by segment:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Land closing revenue:
 
 
 
 
 
 
 
West
$
10,105

 
$
5,875

 
$
11,155

 
$
11,616

Central
1,147

 
3,058

 
3,244

 
13,482

East

 

 
2,223

 
3,470

Consolidated total
$
11,252

 
$
8,933

 
$
16,622

 
$
28,568


(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.
Total assets from segment
 
At September 30, 2014
 
West
 
Central
 
East
 
Financial Services
 
Corporate and
Unallocated
 
Total
Deposits on real estate under option or contract
$
22,569

 
$
26,956

 
$
30,738

 
$

 
$

 
$
80,263

Real estate
945,921

 
464,158

 
454,972

 

 

 
1,865,051

Investments in unconsolidated entities
203

 
8,451

 

 

 
1,246

 
9,900

Other assets
45,005

 
83,378

 
63,916

 
607

 
124,692

(1)
317,598

Total assets
$
1,013,698

 
$
582,943

 
$
549,626

 
$
607

 
$
125,938

 
$
2,272,812

 
 
At December 31, 2013
 
West
 
Central
 
East
 
Financial Services
 
Corporate and
Unallocated
 
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

 
50

 

 
2,443

 
11,638

Other assets
26,900

 
165,403

(1)
31,372

 
497

 
310,657

(1)
534,829

Total assets
$
853,807

 
$
556,006

 
$
279,951

 
$
497

 
$
313,100

 
$
2,003,361

 
(1)    Balance consists primarily of cash and securities and our deferred tax asset.