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Segment Information | 9 Months Ended
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Sep. 30, 2018
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, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia
Southeast: |  | Georgia, North Carolina, South Carolina, Tennessee
Florida: |  | Florida
Midwest: |  | Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio
Texas: |  | Texas
West: |  | Arizona, California, Nevada, New Mexico, Washington
We also have a reportable segment for our Financial Services operations, which consist principally of mortgage banking and title operations and operate generally in the same markets as the Homebuilding segments.
| Operating Data by Segment ($000’s omitted)
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Revenues: |  |  |  |  |  |  |
Northeast | $ | 185,614 |  |  | $ | 168,371 |  |  | $ | 518,676 |  |  | $ | 425,275 |
Southeast | 451,600 |  |  | 393,905 |  |  | 1,271,730 |  |  | 1,104,149 |
Florida | 506,670 |  |  | 338,078 |  |  | 1,311,016 |  |  | 1,015,795 |
Midwest | 412,803 |  |  | 406,126 |  |  | 1,066,775 |  |  | 1,008,617 |
Texas | 347,986 |  |  | 269,997 |  |  | 925,317 |  |  | 793,207 |
West | 693,073 |  |  | 507,629 |  |  | 1,945,345 |  |  | 1,299,758 |
| 2,597,746 |  |  | 2,084,106 |  |  | 7,038,859 |  |  | 5,646,801 |
Financial Services | 51,620 |  |  | 46,952 |  |  | 150,322 |  |  | 135,995 |
Consolidated revenues | $ | 2,649,366 |  |  | $ | 2,131,058 |  |  | $ | 7,189,181 |  |  | $ | 5,782,796 |
Income (loss) before income taxes (a): |  |  |  |  |  |  |
Northeast | $ | 18,938 |  |  | $ | 21,046 |  |  | $ | 53,408 |  |  | $ | (12,803 | )
Southeast | 51,920 |  |  | 45,109 |  |  | 146,735 |  |  | 117,749 |
Florida (b) | 73,802 |  |  | 52,191 |  |  | 186,238 |  |  | 132,824 |
Midwest | 52,438 |  |  | 59,636 |  |  | 123,889 |  |  | 115,463 |
Texas | 55,382 |  |  | 42,727 |  |  | 136,777 |  |  | 122,045 |
West (c) | 138,698 |  |  | 75,753 |  |  | 382,317 |  |  | 107,987 |
Other homebuilding (d) | (26,123 | ) |  | (45,999 | ) |  | (65,497 | ) |  | (103,441 | )
| 365,055 |  |  | 250,463 |  |  | 963,867 |  |  | 479,824 |
Financial Services | 19,633 |  |  | 17,786 |  |  | 54,182 |  |  | 50,238 |
Consolidated income before income taxes | $ | 384,688 |  |  | $ | 268,249 |  |  | $ | 1,018,049 |  |  | $ | 530,062 |
(a) | Includes land-related charges, as summarized in the table below.
(b) | Florida includes a warranty charge of $12.3 million for the nine months ended September 30, 2017 related to a closed-out community (see Note 8).
(c) | West includes gains of $26.4 million related to two land sale transactions in California in the nine months ended September 30, 2018.
(d) | Other homebuilding includes the amortization of intangible assets and capitalized interest and other items not allocated to the operating segments. Other homebuilding also includes insurance reserve reversals of $37.9 million and $19.8 million for the nine months ended September 30, 2018 and 2017, respectively, and write-offs of $5.3 million and $20.3 million of insurance receivables associated with the resolution of certain insurance matters in the three and nine months ended September 30, 2017, respectively (see Note 8).
| Operating Data by Segment ($000’s omitted)
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Land-related charges*: |  |  |  |  |  |  |
Northeast | $ | 1,385 |  |  | $ | 1,184 |  |  | $ | 3,068 |  |  | $ | 51,102 |
Southeast | 663 |  |  | 889 |  |  | 2,394 |  |  | 1,847 |
Florida | 262 |  |  | 109 |  |  | 671 |  |  | 8,862 |
Midwest | 4,960 |  |  | (393 | ) |  | 6,078 |  |  | 7,703 |
Texas | 47 |  |  | 51 |  |  | 317 |  |  | 898 |
West | 425 |  |  | 306 |  |  | 786 |  |  | 56,747 |
Other homebuilding | 391 |  |  | — |  |  | 659 |  |  | 4,095 |
| $ | 8,133 |  |  | $ | 2,146 |  |  | $ | 13,973 |  |  | $ | 131,254 |
* | Land-related charges include land impairments, net realizable value adjustments on land held for sale, impairments of investments in unconsolidated entities, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue (see Note 2). Other homebuilding consists primarily of write-offs of capitalized interest related to such land-related charges.
| Operating Data by Segment
| ($000's omitted)
| September 30, 2018
| Homes Under Construction |  | Land Under Development |  | Raw Land |  | Total Inventory |  | Total Assets
Northeast | $ | 339,103 |  |  | $ | 256,014 |  |  | $ | 84,066 |  |  | $ | 679,183 |  |  | $ | 809,194 |
Southeast | 497,241 |  |  | 645,915 |  |  | 79,846 |  |  | 1,223,002 |  |  | 1,388,798 |
Florida | 528,092 |  |  | 885,220 |  |  | 73,209 |  |  | 1,486,521 |  |  | 1,632,772 |
Midwest | 366,559 |  |  | 426,349 |  |  | 27,375 |  |  | 820,283 |  |  | 904,671 |
Texas | 333,250 |  |  | 424,500 |  |  | 88,376 |  |  | 846,126 |  |  | 917,529 |
West | 871,553 |  |  | 1,093,490 |  |  | 121,685 |  |  | 2,086,728 |  |  | 2,280,912 |
Other homebuilding (a) | 56,889 |  |  | 270,519 |  |  | 20,203 |  |  | 347,611 |  |  | 1,658,881 |
| 2,992,687 |  |  | 4,002,007 |  |  | 494,760 |  |  | 7,489,454 |  |  | 9,592,757 |
Financial Services | — |  |  | — |  |  | — |  |  | — |  |  | 462,323 |
| $ | 2,992,687 |  |  | $ | 4,002,007 |  |  | $ | 494,760 |  |  | $ | 7,489,454 |  |  | $ | 10,055,080 |
| Operating Data by Segment
| ($000's omitted)
| December 31, 2017
| Homes Under Construction |  | Land Under Development |  | Raw Land |  | Total Inventory |  | Total Assets
Northeast | $ | 234,413 |  |  | $ | 327,599 |  |  | $ | 73,574 |  |  | $ | 635,586 |  |  | $ | 791,511 |
Southeast | 433,411 |  |  | 613,626 |  |  | 121,238 |  |  | 1,168,275 |  |  | 1,287,992 |
Florida | 359,651 |  |  | 876,856 |  |  | 109,069 |  |  | 1,345,576 |  |  | 1,481,837 |
Midwest | 299,896 |  |  | 476,694 |  |  | 28,482 |  |  | 805,072 |  |  | 877,282 |
Texas | 251,613 |  |  | 435,018 |  |  | 87,392 |  |  | 774,023 |  |  | 859,847 |
West | 798,706 |  |  | 1,137,940 |  |  | 147,493 |  |  | 2,084,139 |  |  | 2,271,328 |
Other homebuilding (a) | 43,715 |  |  | 268,081 |  |  | 22,663 |  |  | 334,459 |  |  | 1,469,234 |
| 2,421,405 |  |  | 4,135,814 |  |  | 589,911 |  |  | 7,147,130 |  |  | 9,039,031 |
Financial Services | — |  |  | — |  |  | — |  |  | — |  |  | 647,618 |
| $ | 2,421,405 |  |  | $ | 4,135,814 |  |  | $ | 589,911 |  |  | $ | 7,147,130 |  |  | $ | 9,686,649 |
(a) Other homebuilding primarily includes cash and equivalents, capitalized interest, intangibles, deferred tax assets, and other corporate items that are not allocated to the operating segments.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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