XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Segment Disclosures (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2017
Segment Reporting [Abstract] |
Revenues | The following tables present segment revenues, profit and assets, with reconciliations to the amounts reported for the consolidated enterprise, where applicable:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding Mid Atlantic |  | $ | 872,148 |  |  | $ | 772,147 |  |  | $ | 1,594,416 |  |  | $ | 1,405,718 |
Homebuilding North East |  |  | 127,541 |  |  |  | 108,766 |  |  |  | 233,771 |  |  |  | 205,919 |
Homebuilding Mid East |  |  | 313,237 |  |  |  | 306,257 |  |  |  | 556,268 |  |  |  | 550,534 |
Homebuilding South East |  |  | 199,788 |  |  |  | 174,571 |  |  |  | 375,846 |  |  |  | 321,074 |
Mortgage Banking |  |  | 31,778 |  |  |  | 26,442 |  |  |  | 61,283 |  |  |  | 48,964 |
Total consolidated revenues |  | $ | 1,544,492 |  |  | $ | 1,388,183 |  |  | $ | 2,821,584 |  |  | $ | 2,532,209 |
Profit before Taxes |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Profit before taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding Mid Atlantic |  | $ | 100,621 |  |  | $ | 63,730 |  |  | $ | 165,109 |  |  | $ | 110,339 |
Homebuilding North East |  |  | 14,112 |  |  |  | 5,578 |  |  |  | 23,218 |  |  |  | 9,643 |
Homebuilding Mid East |  |  | 35,986 |  |  |  | 30,056 |  |  |  | 58,145 |  |  |  | 52,789 |
Homebuilding South East |  |  | 22,911 |  |  |  | 15,825 |  |  |  | 37,481 |  |  |  | 28,611 |
Mortgage Banking |  |  | 18,004 |  |  |  | 13,973 |  |  |  | 33,957 |  |  |  | 24,348 |
Total segment profit before taxes |  |  | 191,634 |  |  |  | 129,162 |  |  |  | 317,910 |  |  |  | 225,730 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contract land deposit reserve adjustment (1) |  |  | (2,064 | ) |  |  | 1,307 |  |  |  | (2,792 | ) |  |  | 2,636 |
Equity-based compensation expense |  |  | (10,878 | ) |  |  | (10,829 | ) |  |  | (21,467 | ) |  |  | (21,378 | )
Corporate capital allocation (2) |  |  | 49,646 |  |  |  | 46,259 |  |  |  | 95,833 |  |  |  | 90,574 |
Unallocated corporate overhead |  |  | (23,360 | ) |  |  | (26,517 | ) |  |  | (50,594 | ) |  |  | (56,026 | )
Consolidation adjustments and other |  |  | 9,614 |  |  |  | 9,877 |  |  |  | 13,427 |  |  |  | 15,862 |
Corporate interest expense |  |  | (5,624 | ) |  |  | (4,539 | ) |  |  | (11,188 | ) |  |  | (9,366 | )
Reconciling items sub-total |  |  | 17,334 |  |  |  | 15,558 |  |  |  | 23,219 |  |  |  | 22,302 |
Consolidated profit before taxes |  | $ | 208,968 |  |  | $ | 144,720 |  |  | $ | 341,129 |  |  | $ | 248,032 |
| (1) | This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments.
| (2) | 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 June 30, |  |  | Six Months Ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Corporate capital allocation charge: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding Mid Atlantic |  | $ | 31,005 |  |  | $ | 28,766 |  |  | $ | 60,130 |  |  | $ | 55,951 |
Homebuilding North East |  |  | 4,133 |  |  |  | 4,447 |  |  |  | 7,947 |  |  |  | 9,400 |
Homebuilding Mid East |  |  | 7,535 |  |  |  | 7,458 |  |  |  | 14,277 |  |  |  | 14,157 |
Homebuilding South East |  |  | 6,973 |  |  |  | 5,588 |  |  |  | 13,479 |  |  |  | 11,066 |
Total |  | $ | 49,646 |  |  | $ | 46,259 |  |  | $ | 95,833 |  |  | $ | 90,574 |
Assets |
|  | June 30, 2017 |  |  | December 31, 2016 |
Assets: |  |  |  |  |  |  |  |
Homebuilding Mid Atlantic |  | $ | 1,177,147 |  |  | $ | 1,054,779 |
Homebuilding North East |  |  | 148,272 |  |  |  | 126,720 |
Homebuilding Mid East |  |  | 274,846 |  |  |  | 222,736 |
Homebuilding South East |  |  | 263,780 |  |  |  | 214,225 |
Mortgage Banking |  |  | 276,564 |  |  |  | 403,250 |
Total segment assets |  |  | 2,140,609 |  |  |  | 2,021,710 |
Reconciling items: |  |  |  |  |  |  |  |
Consolidated variable interest entity |  |  | 1,243 |  |  |  | 1,251 |
Cash and cash equivalents |  |  | 518,482 |  |  |  | 375,748 |
Deferred taxes |  |  | 176,401 |  |  |  | 170,652 |
Intangible assets and goodwill |  |  | 50,835 |  |  |  | 51,526 |
Contract land deposit reserve |  |  | (34,098 | ) |  |  | (31,306 | )
Consolidation adjustments and other |  |  | 64,615 |  |  |  | 54,362 |
Reconciling items sub-total |  |  | 777,478 |  |  |  | 622,233 |
Consolidated assets |  | $ | 2,918,087 |  |  | $ | 2,643,943 |
Corporate Capital Allocation Charge | 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 June 30, |  |  | Six Months Ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Corporate capital allocation charge: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding Mid Atlantic |  | $ | 31,005 |  |  | $ | 28,766 |  |  | $ | 60,130 |  |  | $ | 55,951 |
Homebuilding North East |  |  | 4,133 |  |  |  | 4,447 |  |  |  | 7,947 |  |  |  | 9,400 |
Homebuilding Mid East |  |  | 7,535 |  |  |  | 7,458 |  |  |  | 14,277 |  |  |  | 14,157 |
Homebuilding South East |  |  | 6,973 |  |  |  | 5,588 |  |  |  | 13,479 |  |  |  | 11,066 |
Total |  | $ | 49,646 |  |  | $ | 46,259 |  |  | $ | 95,833 |  |  | $ | 90,574 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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