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Segment Information
 6 Months Ended
Jun. 30, 2013
Segment Reporting [Abstract]  
Segment Information
Segment information

Our Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the U.S. and the construction of housing on such land. For reporting purposes, our Homebuilding operations are aggregated into six reportable segments:
Northeast:
  
Connecticut, Delaware, Maryland, Massachusetts, New Jersey, New York, Pennsylvania,
Rhode Island, Virginia
Southeast:
  
Georgia, North Carolina, South Carolina, Tennessee
Florida:
 
Florida
Texas:
 
Texas
North:
  
Illinois, Indiana, Michigan, Minnesota, Missouri, Northern California, Ohio, Oregon, Washington
Southwest:
  
Arizona, Colorado, Nevada, New Mexico, Southern California

We also have a reportable segment for our Financial Services operations, which consist principally of mortgage banking and title operations. The Financial Services segment operates generally in the same markets as the Homebuilding segments.

Evaluation of segment performance is generally based on income before income taxes. Each reportable segment generally follows the same accounting policies described in Note 1 - "Summary of Significant Accounting Policies" to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2012.
 
 
Operating Data by Segment
($000’s omitted)
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2013
 
2012
 
2013
 
2012
Revenues:
 
 
 
 
 
 
 
Northeast
$
163,687

 
$
167,747

 
$
296,443

 
$
308,081

Southeast
197,848

 
168,182

 
367,774

 
301,590

Florida
183,393

 
150,046

 
335,276

 
274,044

Texas
214,032

 
161,876

 
404,075

 
292,067

North
256,500

 
203,005

 
482,306

 
389,161

Southwest
224,600

 
182,298

 
480,069

 
320,395

 
1,240,060

 
1,033,154

 
2,365,943

 
1,885,338

Financial Services
39,362

 
36,251

 
76,235

 
65,103

Consolidated revenues
$
1,279,422

 
$
1,069,405

 
$
2,442,178

 
$
1,950,441

 
 
 
 
 
 
 
 
Income (loss) before income taxes:
 
 
 
 
 
 
 
Northeast
$
16,582

 
$
16,141

 
$
28,654

 
$
22,637

Southeast
22,796

 
14,484

 
41,124

 
19,497

Florida
25,597

 
17,304

 
45,877

 
22,807

Texas
25,694

 
8,851

 
46,904

 
15,897

North
26,077

 
8,646

 
46,629

 
11,787

Southwest
36,609

 
14,876

 
70,400

 
13,935

Other homebuilding (a)
(131,384
)
 
(56,363
)
 
(189,580
)
 
(102,973
)
 
21,971

 
23,939

 
90,008

 
3,587

Financial Services (b)
16,359

 
15,987

 
30,672

 
22,848

Consolidated income (loss) before
  income taxes
$
38,330

 
$
39,926

 
$
120,680

 
$
26,435


(a)
Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. During the three and six months ended June 30, 2013, Other homebuilding also included losses on debt retirements totaling $23.1 million, costs associated with the previously announced relocation of our corporate headquarters totaling $13.5 million, and a charge resulting from a contractual dispute related to a previously completed luxury community totaling $30.0 million.
(b)
Financial Services income before income taxes includes interest income of $1.5 million and $1.3 million for the three months ended June 30, 2013 and 2012, respectively, and $3.1 million and $2.6 million for the six months ended June 30, 2013 and 2012, respectively.

 
 
Land-Related Charges by Segment
($000's omitted)
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2013
 
2012
 
2013
 
2012
Land and community valuation adjustments:
 
 
 
 
 
 
 
Northeast
$
—

 
$
535

 
$
—

 
$
535

Southeast
—

 
—

 
—

 
—

Florida
—

 
—

 
—

 
—

Texas
—

 
—

 
—

 
—

North
—

 
98

 
—

 
1,988

Southwest
—

 
—

 
—

 
1,810

Other homebuilding (a)
1,652

 
2,163

 
1,935

 
2,977

 
$
1,652

 
$
2,796

 
$
1,935

 
$
7,310

Net realizable value adjustments (NRV) - land held
   for sale:
 
 
 
 
 
 
 
Northeast
$
—

 
$
—

 
$
—

 
$
—

Southeast
—

 
(4
)
 
—

 
281

Florida
516

 
—

 
567

 
38

Texas
—

 
258

 
4

 
258

North
1,506

 
184

 
1,531

 
65

Southwest
81

 
(78
)
 
81

 
361

 
$
2,103

 
$
360

 
$
2,183

 
$
1,003

Write-off of deposits and pre-acquisition costs:
 
 
 
 
 
 
 
Northeast
$
7

 
$
37

 
$
109

 
$
88

Southeast
63

 
(12
)
 
88

 
543

Florida
50

 
—

 
82

 
11

Texas
(4
)
 
24

 
(4
)
 
49

North
75

 
46

 
182

 
143

Southwest
59

 
71

 
134

 
71

 
$
250

 
$
166

 
$
591

 
$
905

Total land-related charges
$
4,005

 
$
3,322

 
$
4,709

 
$
9,218


(a)
Primarily write-offs of capitalized interest related to land and community valuation adjustments.
 
Operating Data by Segment
 
($000's omitted)
 
June 30, 2013
 
Homes Under
Construction
 
Land Under
Development
 
Raw Land
 
Total
Inventory
 
Total
Assets
Northeast
$
270,442

 
$
371,783

 
$
105,995

 
$
748,220

 
$
867,515

Southeast
165,086

 
257,246

 
138,410

 
560,742

 
597,761

Florida
153,881

 
296,334

 
93,257

 
543,472

 
626,414

Texas
157,321

 
231,320

 
36,704

 
425,345

 
489,823

North
287,610

 
296,818

 
68,827

 
653,255

 
715,486

Southwest
215,284

 
478,616

 
213,265

 
907,165

 
977,055

Other homebuilding (a)
52,184

 
227,790

 
64,896

 
344,870

 
1,878,925

 
1,301,808

 
2,159,907

 
721,354

 
4,183,069

 
6,152,979

Financial Services
—

 
—

 
—

 
—

 
299,292

 
$
1,301,808

 
$
2,159,907

 
$
721,354

 
$
4,183,069

 
$
6,452,271

 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
Homes Under
Construction
 
Land Under
Development
 
Raw Land
 
Total
Inventory
 
Total
Assets
Northeast
$
198,549

 
$
445,436

 
$
109,136

 
$
753,121

 
$
866,024

Southeast
147,227

 
286,210

 
120,193

 
553,630

 
590,650

Florida
130,276

 
310,625

 
100,633

 
541,534

 
620,220

Texas
145,594

 
256,704

 
54,556

 
456,854

 
523,843

North
219,172

 
369,144

 
46,414

 
634,730

 
680,447

Southwest
226,204

 
496,488

 
167,295

 
889,987

 
963,540

Other homebuilding (a)
49,162

 
270,771

 
64,257

 
384,190

 
2,140,739

 
1,116,184

 
2,435,378

 
662,484

 
4,214,046

 
6,385,463

Financial Services
—

 
—

 
—

 
—

 
348,946

 
$
1,116,184

 
$
2,435,378

 
$
662,484

 
$
4,214,046

 
$
6,734,409

 
(a)
Other homebuilding primarily includes capitalized interest, cash and equivalents, income taxes receivable, intangibles, and other corporate items that are not allocated to the operating segments.