XML 18 R9.htm IDEA: XBRL DOCUMENT
v3.22.1

Segment Information | 3 Months Ended
--- | ---
Mar. 31, 2022
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, Pennsylvania, Virginia
Southeast: |  | Georgia, North Carolina, South Carolina, Tennessee
Florida: |  | Florida
Midwest: |  | Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio
Texas: |  | Texas
West: |  | Arizona, California, Colorado, 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 that operate generally in the same markets as the Homebuilding segments.
| Operating Data by Segment ($000’s omitted)
| Three Months Ended |  |
| March 31, |  |
| 2022 |  | 2021 |  |  |  |
Revenues: |  |  |  |  |  |  |
Northeast | $ | 164,331 |  |  | $ | 176,467 |  |  |  |  |
Southeast | 528,198 |  |  | 436,779 |  |  |  |  |
Florida | 767,969 |  |  | 625,241 |  |  |  |  |
Midwest | 452,674 |  |  | 366,814 |  |  |  |  |
Texas | 446,273 |  |  | 374,121 |  |  |  |  |
West | 744,027 |  |  | 644,247 |  |  |  |  |
| 3,103,472 |  |  | 2,623,669 |  |  |  |  |
Financial Services | 84,143 |  |  | 106,122 |  |  |  |  |
Consolidated revenues | $ | 3,187,615 |  |  | $ | 2,729,791 |  |  |  |  |
Income (loss) before income taxes: |  |  |  |  |  |  |
Northeast | $ | 27,399 |  |  | $ | 25,894 |  |  |  |  |
Southeast | 126,132 |  |  | 71,322 |  |  |  |  |
Florida | 160,694 |  |  | 101,208 |  |  |  |  |
Midwest | 64,701 |  |  | 52,864 |  |  |  |  |
Texas | 83,716 |  |  | 65,648 |  |  |  |  |
West | 133,311 |  |  | 98,832 |  |  |  |  |
Other homebuilding (a) | (36,653) |  |  | (88,064) |  |  |  |  |
| 559,300 |  |  | 327,704 |  |  |  |  |
Financial Services | 40,593 |  |  | 66,348 |  |  |  |  |
Consolidated income before income taxes | $ | 599,893 |  |  | $ | 394,052 |  |  |  |  |
(a)Other homebuilding includes the amortization of intangible assets and capitalized interest and other items not allocated to the other segments. Other homebuilding also includes a loss on debt retirement of $61.5 million in the three months ended March 31, 2021 (see Note 4).
| Operating Data by Segment ($000’s omitted)
| Three Months Ended |  |
| March 31, |  |
| 2022 |  | 2021 |  |  |  |
Land-related charges (a): |  |  |  |  |  |  |
Northeast | $ | 102 |  |  | $ | 116 |  |  |  |  |
Southeast | 1,902 |  |  | 456 |  |  |  |  |
Florida | 972 |  |  | 131 |  |  |  |  |
Midwest | 158 |  |  | 54 |  |  |  |  |
Texas | 239 |  |  | 527 |  |  |  |  |
West | 137 |  |  | 84 |  |  |  |  |
Other homebuilding | — |  |  | — |  |  |  |  |
| $ | 3,510 |  |  | $ | 1,368 |  |  |  |  |
(a) Land-related charges include land impairments, net realizable value adjustments on land held for sale, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue.
| Operating Data by Segment
| ($000's omitted)
| March 31, 2022
| Homes Under Construction |  | Land Under Development |  | Raw Land |  | Total Inventory |  | Total Assets
Northeast | $ | 334,122 |  |  | $ | 234,813 |  |  | $ | 16,030 |  |  | $ | 584,965 |  |  | $ | 718,785 |
Southeast | 742,514 |  |  | 499,110 |  |  | 75,210 |  |  | 1,316,834 |  |  | 1,481,554 |
Florida | 1,190,976 |  |  | 903,364 |  |  | 222,449 |  |  | 2,316,789 |  |  | 2,752,490 |
Midwest | 583,360 |  |  | 458,445 |  |  | 27,466 |  |  | 1,069,271 |  |  | 1,198,261 |
Texas | 696,620 |  |  | 553,061 |  |  | 148,602 |  |  | 1,398,283 |  |  | 1,540,106 |
West | 1,446,362 |  |  | 1,238,943 |  |  | 183,023 |  |  | 2,868,328 |  |  | 3,145,372 |
Other homebuilding (a) | 51,828 |  |  | 248,643 |  |  | 14,948 |  |  | 315,419 |  |  | 1,642,392 |
| 5,045,782 |  |  | 4,136,379 |  |  | 687,728 |  |  | 9,869,889 |  |  | 12,478,960 |
Financial Services | — |  |  | — |  |  | — |  |  | — |  |  | 685,280 |
| $ | 5,045,782 |  |  | $ | 4,136,379 |  |  | $ | 687,728 |  |  | $ | 9,869,889 |  |  | $ | 13,164,240 |
| Operating Data by Segment
| ($000's omitted)
| December 31, 2021
| Homes Under Construction |  | Land Under Development |  | Raw Land |  | Total Inventory |  | Total Assets
Northeast | $ | 285,975 |  |  | $ | 246,128 |  |  | $ | 17,554 |  |  | $ | 549,657 |  |  | $ | 644,019 |
Southeast | 604,310 |  |  | 537,072 |  |  | 67,815 |  |  | 1,209,197 |  |  | 1,362,852 |
Florida | 943,110 |  |  | 866,266 |  |  | 289,388 |  |  | 2,098,764 |  |  | 2,545,457 |
Midwest | 527,001 |  |  | 460,279 |  |  | 15,869 |  |  | 1,003,149 |  |  | 1,132,081 |
Texas | 581,417 |  |  | 512,925 |  |  | 95,833 |  |  | 1,190,175 |  |  | 1,315,943 |
West | 1,235,457 |  |  | 1,191,834 |  |  | 227,850 |  |  | 2,655,141 |  |  | 2,955,283 |
Other homebuilding (a) | 48,039 |  |  | 276,511 |  |  | 16,936 |  |  | 341,486 |  |  | 2,314,839 |
| 4,225,309 |  |  | 4,091,015 |  |  | 731,245 |  |  | 9,047,569 |  |  | 12,270,474 |
Financial Services | — |  |  | — |  |  | — |  |  | — |  |  | 1,082,157 |
| $ | 4,225,309 |  |  | $ | 4,091,015 |  |  | $ | 731,245 |  |  | $ | 9,047,569 |  |  | $ | 13,352,631 |
(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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -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: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration