XML 23 R10.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2019
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. Home sale revenues for detached and attached homes were $8.3 billion and $1.6 billion in 2019, $8.2 billion and $1.6 billion in 2018, and $7.3 billion and $1.1 billion in 2017, respectively. For reporting purposes, our Homebuilding operations are aggregated into six reportable segments:
Northeast: |  | Connecticut, Maryland, Massachusetts, New Jersey, Pennsylvania, Virginia
Southeast: |  | Georgia, North Carolina, South Carolina, Tennessee
Florida: |  | Florida
Midwest: |  | Illinois, Indiana, Kentucky, Michigan, Minnesota, 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, title, and insurance brokerage 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.
| Operating Data by Segment ($000’s omitted) Years Ended December 31,
| 2019 |  | 2018 |  | 2017
Revenues: |  |  |  |  |
Northeast | $ | 797,963 |  |  | $ | 839,700 |  |  | $ | 693,877 |
Southeast | 1,684,655 |  |  | 1,746,161 |  |  | 1,564,116 |
Florida | 2,074,194 |  |  | 1,944,170 |  |  | 1,494,389 |
Midwest | 1,495,037 |  |  | 1,497,389 |  |  | 1,450,192 |
Texas | 1,389,211 |  |  | 1,301,004 |  |  | 1,168,755 |
West | 2,537,466 |  |  | 2,654,525 |  |  | 2,014,197 |
| 9,978,526 |  |  | 9,982,949 |  |  | 8,385,526 |
Financial Services | 234,431 |  |  | 205,382 |  |  | 192,160 |
Consolidated revenues | $ | 10,212,957 |  |  | $ | 10,188,331 |  |  | $ | 8,577,686 |
Income before income taxes (a): |  |  |  |  |
Northeast | $ | 116,221 |  |  | $ | 29,629 |  |  | $ | 21,190 |
Southeast (b) | 175,763 |  |  | 202,639 |  |  | 122,532 |
Florida (b) | 309,596 |  |  | 289,418 |  |  | 208,825 |
Midwest | 184,438 |  |  | 179,568 |  |  | 178,231 |
Texas | 195,751 |  |  | 193,946 |  |  | 182,862 |
West (c) | 386,361 |  |  | 511,828 |  |  | 229,504 |
Other homebuilding (d) | (131,869 | ) |  | (118,224 | ) |  | (77,812 | )
| 1,236,261 |  |  | 1,288,804 |  |  | 865,332 |
Financial Services | 103,315 |  |  | 58,736 |  |  | 73,496 |
Consolidated income before income taxes | $ | 1,339,576 |  |  | $ | 1,347,540 |  |  | $ | 938,828 |
(a) | Includes certain land-related charges (see the following table and Note 2).
(b) | Includes warranty charges totaling $14.8 million in 2019 related to a closed-out community in Southeast and $12.4 million in 2017 related to a closed-out community in Florida (see Note 11).
(c) | West includes gains of $26.4 million in 2018 related to two land sale transactions in California.
(d) | Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. Also included are write-offs of insurance receivables associated with the resolution of certain insurance matters totaling $22.6 million and $29.6 million in 2019 and 2017, respectively (see Note 11), and general liability insurance reserve reversals of $49.4 million, $35.9 million, and $97.8 million in 2019, 2018 and 2017, respectively (see Note 11).
| Operating Data by Segment ($000's omitted) Years Ended December 31,
| 2019 |  | 2018 |  | 2017
Land-related charges*: |  |  |  |  |
Northeast | $ | 1,122 |  |  | $ | 74,488 |  |  | $ | 51,362 |
Southeast | 15,697 |  |  | 8,140 |  |  | 55,689 |
Florida | 2,811 |  |  | 1,166 |  |  | 9,702 |
Midwest | 2,581 |  |  | 7,361 |  |  | 8,917 |
Texas | 1,151 |  |  | 1,204 |  |  | 2,521 |
West | 2,568 |  |  | 5,159 |  |  | 56,996 |
Other homebuilding | 1,171 |  |  | 1,928 |  |  | 6,726 |
| $ | 27,101 |  |  | $ | 99,446 |  |  | $ | 191,913 |
* | Land-related charges include land impairments, net realizable value adjustments for land held for sale, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue. Other homebuilding consists primarily of write-offs of capitalized interest related to such land-related charges. See Note 2 for additional discussion of these charges.
| Operating Data by Segment ($000's omitted) Years Ended December 31,
| 2019 |  | 2018 |  | 2017
Depreciation and amortization: |  |  |  |  |
Northeast | $ | 1,962 |  |  | $ | 2,093 |  |  | $ | 2,392 |
Southeast | 4,448 |  |  | 5,231 |  |  | 5,117 |
Florida | 5,775 |  |  | 4,893 |  |  | 4,883 |
Midwest | 4,417 |  |  | 4,271 |  |  | 4,449 |
Texas | 3,423 |  |  | 3,082 |  |  | 3,301 |
West | 9,317 |  |  | 6,758 |  |  | 5,828 |
Other homebuilding (a) | 19,553 |  |  | 18,908 |  |  | 21,326 |
| 48,895 |  |  | 45,236 |  |  | 47,296 |
Financial Services | 5,104 |  |  | 4,193 |  |  | 3,702 |
| $ | 53,999 |  |  | $ | 49,429 |  |  | $ | 50,998 |
(a) | Other homebuilding includes amortization of intangible assets.
| Operating Data by Segment
| ($000's omitted)
| December 31, 2019
| Homes Under Construction |  | Land Under Development |  | Raw Land |  | Total Inventory |  | Total Assets
Northeast | $ | 345,644 |  |  | $ | 242,666 |  |  | $ | 25,098 |  |  | $ | 613,408 |  |  | $ | 698,661 |
Southeast | 430,008 |  |  | 724,258 |  |  | 72,804 |  |  | 1,227,070 |  |  | 1,354,086 |
Florida | 539,895 |  |  | 894,716 |  |  | 99,228 |  |  | 1,533,839 |  |  | 1,700,198 |
Midwest | 315,822 |  |  | 464,733 |  |  | 31,881 |  |  | 812,436 |  |  | 886,889 |
Texas | 343,230 |  |  | 447,707 |  |  | 84,926 |  |  | 875,863 |  |  | 949,236 |
West | 881,551 |  |  | 1,289,255 |  |  | 105,606 |  |  | 2,276,412 |  |  | 2,538,803 |
Other homebuilding (a) | 42,866 |  |  | 283,772 |  |  | 14,948 |  |  | 341,586 |  |  | 1,953,440 |
| 2,899,016 |  |  | 4,347,107 |  |  | 434,491 |  |  | 7,680,614 |  |  | 10,081,313 |
Financial Services | — |  |  | — |  |  | — |  |  | — |  |  | 634,284 |
| $ | 2,899,016 |  |  | $ | 4,347,107 |  |  | $ | 434,491 |  |  | $ | 7,680,614 |  |  | $ | 10,715,597 |
| December 31, 2018
| Homes Under Construction |  | Land Under Development |  | Raw Land |  | Total Inventory |  | Total Assets
Northeast | $ | 268,900 |  |  | $ | 291,467 |  |  | $ | 52,245 |  |  | $ | 612,612 |  |  | $ | 704,515 |
Southeast | 443,140 |  |  | 676,087 |  |  | 90,332 |  |  | 1,209,559 |  |  | 1,347,427 |
Florida | 467,625 |  |  | 892,669 |  |  | 85,321 |  |  | 1,445,615 |  |  | 1,601,906 |
Midwest | 314,442 |  |  | 433,056 |  |  | 29,908 |  |  | 777,406 |  |  | 849,596 |
Texas | 284,405 |  |  | 427,124 |  |  | 98,415 |  |  | 809,944 |  |  | 881,629 |
West | 805,709 |  |  | 1,131,841 |  |  | 118,579 |  |  | 2,056,129 |  |  | 2,208,092 |
Other homebuilding (a) | 45,937 |  |  | 276,981 |  |  | 19,170 |  |  | 342,088 |  |  | 2,006,825 |
| 2,630,158 |  |  | 4,129,225 |  |  | 493,970 |  |  | 7,253,353 |  |  | 9,599,990 |
Financial Services | — |  |  | — |  |  | — |  |  | — |  |  | 572,986 |
| $ | 2,630,158 |  |  | $ | 4,129,225 |  |  | $ | 493,970 |  |  | $ | 7,253,353 |  |  | $ | 10,172,976 |
(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.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration