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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Components of Reportable Segments | 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
Operating Data By Reporting Segment |
| Operating Data by Segment ($000’s omitted)
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Revenues (a): |  |  |  |  |  |  |
Northeast | $ | 229,371 |  |  | $ | 245,167 |  |  | $ | 450,020 |  |  | $ | 407,494 |
Southeast | 732,328 |  |  | 582,671 |  |  | 1,362,629 |  |  | 1,105,909 |
Florida | 1,228,474 |  |  | 981,480 |  |  | 2,305,588 |  |  | 1,740,781 |
Midwest | 474,460 |  |  | 548,229 |  |  | 868,329 |  |  | 996,131 |
Texas | 613,838 |  |  | 564,027 |  |  | 1,100,231 |  |  | 1,002,881 |
West | 818,063 |  |  | 875,403 |  |  | 1,527,441 |  |  | 1,609,157 |
| 4,096,534 |  |  | 3,796,977 |  |  | 7,614,238 |  |  | 6,862,353 |
Financial Services | 92,219 |  |  | 82,775 |  |  | 150,156 |  |  | 166,918 |
Consolidated revenues | $ | 4,188,753 |  |  | $ | 3,879,752 |  |  | $ | 7,764,394 |  |  | $ | 7,029,271 |
| Operating Data by Segment ($000’s omitted)
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Income (loss) before income taxes: |  |  |  |  |  |  |
Northeast | $ | 51,165 |  |  | $ | 59,971 |  |  | $ | 97,962 |  |  | $ | 87,370 |
Southeast | 179,707 |  |  | 152,257 |  |  | 325,010 |  |  | 278,389 |
Florida | 318,066 |  |  | 247,435 |  |  | 588,803 |  |  | 408,129 |
Midwest | 78,381 |  |  | 88,323 |  |  | 137,285 |  |  | 153,066 |
Texas | 126,054 |  |  | 134,133 |  |  | 206,119 |  |  | 217,849 |
West | 100,423 |  |  | 184,788 |  |  | 200,000 |  |  | 318,057 |
Other homebuilding (b) | 52,722 |  |  | (42,409) |  |  | 39,559 |  |  | (79,062) |
| 906,518 |  |  | 824,498 |  |  | 1,594,738 |  |  | 1,383,798 |
Financial Services | 46,495 |  |  | 40,075 |  |  | 60,397 |  |  | 80,668 |
Consolidated income before income taxes | $ | 953,013 |  |  | $ | 864,573 |  |  | $ | 1,655,135 |  |  | $ | 1,464,466 |
(a)All periods reflect the reclassification of closing cost incentives to homes sale revenues from home sale cost of revenues (Note 1). (b)Other homebuilding includes the amortization of intangible assets and capitalized interest and other items not allocated to the other segments. Other homebuilding also includes insurance reserve reversals of $64.9 million in the three months ended June 30, 2023.
| Operating Data by Segment ($000’s omitted) |  |
| Three Months Ended |  | Six Months Ended |  |
| June 30, |  | June 30, |  |
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |
Land-related charges (a): |  |  |  |  |  |  |  |  |
Northeast | $ | 44 |  |  | $ | 100 |  |  | $ | 69 |  |  | $ | 202 |  |  |
Southeast | 668 |  |  | 1,933 |  |  | 3,027 |  |  | 3,835 |  |  |
Florida | 79 |  |  | 641 |  |  | 2,092 |  |  | 1,612 |  |  |
Midwest | 174 |  |  | 944 |  |  | 604 |  |  | 1,102 |  |  |
Texas | 214 |  |  | 294 |  |  | 329 |  |  | 534 |  |  |
West | 3,059 |  |  | 591 |  |  | 3,800 |  |  | 728 |  |  |
Other homebuilding | 189 |  |  | — |  |  | 189 |  |  | — |  |  |
| $ | 4,427 |  |  | $ | 4,503 |  |  | $ | 10,110 |  |  | $ | 8,013 |  |  |
(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. Other homebuilding consists primarily of write-offs of capitalized interest related to such land-related charges.
Total Assets And Inventory By Reporting Segment |
| Operating Data by Segment
| ($000's omitted)
| June 30, 2023
| Homes Under Construction |  | Land Under Development |  | Raw Land |  | Consolidated Inventory Not Owned |  | Total Inventory |  | Total Assets
Northeast | $ | 338,842 |  |  | $ | 293,920 |  |  | $ | 31,964 |  |  | $ | — |  |  | $ | 664,726 |  |  | $ | 786,086 |
Southeast | 767,132 |  |  | 639,701 |  |  | 76,021 |  |  | 18,783 |  |  | 1,501,637 |  |  | 1,736,533 |
Florida (a) | 1,464,521 |  |  | 1,120,496 |  |  | 114,180 |  |  | 69,064 |  |  | 2,768,261 |  |  | 3,302,542 |
Midwest | 602,652 |  |  | 678,726 |  |  | 16,004 |  |  | 3,355 |  |  | 1,300,737 |  |  | 1,452,201 |
Texas | 549,870 |  |  | 656,743 |  |  | 162,169 |  |  | 52,100 |  |  | 1,420,882 |  |  | 1,585,906 |
West | 1,464,536 |  |  | 1,660,002 |  |  | 222,409 |  |  | — |  |  | 3,346,947 |  |  | 3,621,954 |
Other homebuilding (b) | 28,632 |  |  | 292,044 |  |  | 11,182 |  |  | — |  |  | 331,858 |  |  | 2,125,642 |
| 5,216,185 |  |  | 5,341,632 |  |  | 633,929 |  |  | 143,302 |  |  | 11,335,048 |  |  | 14,610,864 |
Financial Services | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 615,052 |
| $ | 5,216,185 |  |  | $ | 5,341,632 |  |  | $ | 633,929 |  |  | $ | 143,302 |  |  | $ | 11,335,048 |  |  | $ | 15,225,916 |
| December 31, 2022
| Homes Under Construction |  | Land Under Development |  | Raw Land |  | Consolidated Inventory Not Owned |  | Total Inventory |  | Total Assets
Northeast | $ | 321,687 |  |  | $ | 241,897 |  |  | $ | 45,455 |  |  | $ | — |  |  | $ | 609,039 |  |  | $ | 700,413 |
Southeast | 793,539 |  |  | 544,867 |  |  | 102,336 |  |  | 20,169 |  |  | 1,460,911 |  |  | 1,668,053 |
Florida (a) | 1,417,657 |  |  | 1,081,836 |  |  | 125,253 |  |  | 51,889 |  |  | 2,676,635 |  |  | 3,195,091 |
Midwest | 523,194 |  |  | 689,541 |  |  | 22,467 |  |  | — |  |  | 1,235,202 |  |  | 1,382,227 |
Texas | 690,622 |  |  | 726,342 |  |  | 133,300 |  |  | — |  |  | 1,550,264 |  |  | 1,735,683 |
West | 1,662,251 |  |  | 1,528,863 |  |  | 238,758 |  |  | — |  |  | 3,429,872 |  |  | 3,771,808 |
Other homebuilding (b) | 31,236 |  |  | 321,086 |  |  | 11,772 |  |  | — |  |  | 364,094 |  |  | 1,470,919 |
| 5,440,186 |  |  | 5,134,432 |  |  | 679,341 |  |  | 72,058 |  |  | 11,326,017 |  |  | 13,924,194 |
Financial Services | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 872,321 |
| $ | 5,440,186 |  |  | $ | 5,134,432 |  |  | $ | 679,341 |  |  | $ | 72,058 |  |  | $ | 11,326,017 |  |  | $ | 14,796,515 |
(a)Florida includes goodwill of $28.6 million, net of cumulative impairment charges of $20.2 million. (b)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. Other homebuilding also includes goodwill of $40.4 million.

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