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Segment Disclosures (Tables)

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Revenues

		Three Months Ended September 30,								Nine Months Ended September 30,
		2013				2012				2013				2012
Revenues:
Homebuilding Mid Atlantic		$	685,822			$	509,487			$	1,712,592			$	1,324,802
Homebuilding North East			88,451				80,525				233,322				203,926
Homebuilding Mid East			266,598				174,645				650,817				432,948
Homebuilding South East			126,724				89,739				313,942				234,205
Mortgage Banking			21,372				16,241				58,442				45,031
Total consolidated revenues		$	1,188,967			$	870,637			$	2,969,115			$	2,240,912

Profit

Profit:
Homebuilding Mid Atlantic		$	92,496			$	56,763			$	177,762			$	130,428
Homebuilding North East			8,031				8,383				18,114				16,476
Homebuilding Mid East			21,823				13,652				33,058				24,256
Homebuilding South East			11,529				5,555				20,277				13,839
Mortgage Banking			12,665				10,646				33,783				27,267
Total segment profit			146,544				94,999				282,994				212,266
Contract land deposit reserve adjustment (1)			699				(764	)			4,551				586
Equity-based compensation expense (2)			(11,733	)			(16,963	)			(30,385	)			(50,136	)
Corporate capital allocation (3)			31,297				24,712				86,588				66,239
Unallocated corporate overhead (4)			(13,969	)			(19,027	)			(60,139	)			(53,039	)
Consolidation adjustments and other (5)			(15,743	)			2,486				(605	)			4,562
Corporate interest expense (6)			(5,505	)			(1,310	)			(16,128	)			(1,432	)
Reconciling items sub-total			(14,954	)			(10,866	)			(16,118	)			(33,220	)
Consolidated income before taxes		$	131,590			$	84,133			$	266,876			$	179,046

(1) This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments.

(2) Equity-based compensation expense is lower for the three and nine months ended September 30, 2013 due to RSUs issued in 2010 under the 2010 Equity Incentive Plan becoming fully vested effective December 31, 2012. This reduction was partially offset by equity-based compensation expense incurred in 2013 related to RSUs issued in May 2013 under the 2010 Equity Incentive Plan.

(3) This item represents the elimination of the corporate capital allocation charge included in the respective homebuilding reportable segments. The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the periods presented:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2013				2012				2013				2012
Homebuilding Mid Atlantic		$	19,320			$	15,592			$	54,036			$	43,109
Homebuilding North East			2,487				2,203				6,834				6,024
Homebuilding Mid East			6,137				4,371				16,868				10,619
Homebuilding South East			3,353				2,546				8,850				6,487
Total		$	31,297			$	24,712			$	86,588			$	66,239

(4) The decrease in unallocated corporate overhead for the three months ended September 30, 2013 compared to the same period in 2012 was primarily attributable to lower management incentive costs. The increase in unallocated corporate overhead for the nine months ended September 30, 2013 compared to the same period in 2012 was primarily attributable to higher employee costs related to increased headcount period over period.

(5) The change in consolidation adjustments and other in 2013 from 2012 was primarily attributable to changes in the corporate consolidation entries based on production and settlement volumes in the respective periods.

(6) The increase in corporate interest expense in 2013 from 2012 was attributable to the issuance of the Senior Notes in the third quarter of 2012.

Assets

		September 30,				December 31,
		2013				2012
Assets:
Homebuilding Mid Atlantic		$	887,412			$	726,335
Homebuilding North East			95,451				64,568
Homebuilding Mid East			211,249				166,859
Homebuilding South East			123,544				85,521
Mortgage Banking			180,172				215,225
Total segment assets			1,497,828				1,258,508
Consolidated variable interest entity			9,808				15,626
Cash and cash equivalents			804,629				1,139,103
Deferred taxes			155,205				145,618
Intangible assets and goodwill			56,447				58,146
Contract land deposit reserve			(61,003	)			(65,039	)
Consolidation adjustments and other			55,983				52,880
Reconciling items sub-total			1,021,069				1,346,334
Consolidated assets		$	2,518,897			$	2,604,842

Corporate Capital Allocation Charge

		Three Months Ended September 30,								Nine Months Ended September 30,
		2013				2012				2013				2012
Homebuilding Mid Atlantic		$	19,320			$	15,592			$	54,036			$	43,109
Homebuilding North East			2,487				2,203				6,834				6,024
Homebuilding Mid East			6,137				4,371				16,868				10,619
Homebuilding South East			3,353				2,546				8,850				6,487
Total		$	31,297			$	24,712			$	86,588			$	66,239

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