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OPERATING AND REPORTING SEGMENTS | 9 Months Ended
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Sep. 30, 2016
Segment Reporting [Abstract] |
OPERATING AND REPORTING SEGMENTS | OPERATING AND REPORTING SEGMENTS We operate with two principal business segments: homebuilding and financial services. As defined in ASC 280-10, Segment Reporting, we have nine homebuilding operating segments. The homebuilding segments are engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes and providing warranty and customer services. We aggregate our homebuilding operating segments into reporting segments based on similar long-term economic characteristics and geographical proximity. Our current reportable homebuilding segments are as follows:
| West: | Arizona, California and Colorado (1) |
| Central: | Texas |
| East: | Florida, Georgia, North Carolina, South Carolina and Tennessee |
(1) | Activity for our wind-down Nevada operations is reflected in the West Region's results.
Management’s evaluation of segment performance is based on segment operating income, which we define as homebuilding and land revenues less cost of home construction, commissions and other sales costs, land development and other land sales costs and other costs incurred by or allocated to each segment, including impairments. Each reportable segment follows the same accounting policies described in Note 1, “Organization and Basis of Presentation.” Operating results for each segment may not be indicative of the results for such segment had it been an independent, stand-alone entity for the periods presented. The following segment information is in thousands:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Homebuilding revenue (1): |  |  |  |  |  |  |
West | $ | 330,805 |  |  | $ | 270,202 |  |  | $ | 924,494 |  |  | $ | 696,854 |
Central | 200,446 |  |  | 191,132 |  |  | 571,036 |  |  | 524,633 |
East | 221,606 |  |  | 208,622 |  |  | 652,989 |  |  | 564,982 |
Consolidated total | $ | 752,857 |  |  | $ | 669,956 |  |  | $ | 2,148,519 |  |  | $ | 1,786,469 |
Homebuilding segment operating income: |  |  |  |  |  |  |
West | $ | 27,829 |  |  | $ | 24,347 |  |  | $ | 71,387 |  |  | $ | 53,800 |
Central | 18,635 |  |  | 19,524 |  |  | 52,313 |  |  | 54,682 |
East | 9,737 |  |  | 13,849 |  |  | 27,918 |  |  | 35,427 |
Total homebuilding segment operating income | 56,201 |  |  | 57,720 |  |  | 151,618 |  |  | 143,909 |
Financial services segment profit | 5,956 |  |  | 5,601 |  |  | 15,765 |  |  | 13,517 |
Corporate and unallocated costs (2) | (10,063 | ) |  | (8,347 | ) |  | (24,652 | ) |  | (28,225 | )
Earnings/(loss) from other unconsolidated entities, net | 440 |  |  | (123 | ) |  | 856 |  |  | (415 | )
Interest expense | (167 | ) |  | (4,187 | ) |  | (5,127 | ) |  | (11,962 | )
Other income, net | 1,435 |  |  | (3,996 | ) |  | 3,263 |  |  | (3,445 | )
Net earnings before income taxes | $ | 53,802 |  |  | $ | 46,668 |  |  | $ | 141,723 |  |  | $ | 113,379 |
(1) | Homebuilding revenue includes the following land closing revenue, by segment, as outlined in the table below.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Land closing revenue: |  |  |  |  |  |  |
West | $ | 15,543 |  |  | $ | — |  |  | $ | 15,608 |  |  | $ | — |
Central | 947 |  |  | 7,677 |  |  | 4,659 |  |  | 14,194 |
East | 497 |  |  | 395 |  |  | 920 |  |  | 2,091 |
Total | $ | 16,987 |  |  | $ | 8,072 |  |  | $ | 21,187 |  |  | $ | 16,285 |
(2) | Balance consists primarily of corporate costs and numerous shared service functions such as finance and treasury that are not allocated to the homebuilding or financial reporting segments.
|  | At September 30, 2016
|  | West |  | Central |  | East |  | Financial Services |  | Corporate and Unallocated |  | Total
Deposits on real estate under option or contract |  | $ | 26,027 |  |  | $ | 29,757 |  |  | $ | 35,269 |  |  | $ | — |  |  | $ | — |  |  | $ | 91,053 |
Real estate |  | 1,145,566 |  |  | 590,472 |  |  | 692,976 |  |  | — |  |  | — |  |  | 2,429,014 |
Investments in unconsolidated entities |  | 382 |  |  | 9,623 |  |  | — |  |  | — |  |  | 1,826 |  |  | 11,831 |
Other assets |  | 59,158 |  |  | 87,842 |  | (1) | 76,465 |  | (2) | 847 |  |  | 116,945 |  | (3) | 341,257 |
Total assets |  | $ | 1,231,133 |  |  | $ | 717,694 |  |  | $ | 804,710 |  |  | $ | 847 |  |  | $ | 118,771 |  |  | $ | 2,873,155 |
|  | At December 31, 2015
|  | West |  | Central |  | East |  | Financial Services |  | Corporate and Unallocated |  | Total
Deposits on real estate under option or contract |  | $ | 28,488 |  |  | $ | 30,241 |  |  | $ | 29,110 |  |  | $ | — |  |  | $ | — |  |  | $ | 87,839 |
Real estate |  | 1,008,457 |  |  | 505,954 |  |  | 583,891 |  |  | — |  |  | — |  |  | 2,098,302 |
Investments in unconsolidated entities |  | 204 |  |  | 8,704 |  |  | — |  |  | — |  |  | 2,462 |  |  | 11,370 |
Other assets |  | 55,112 |  |  | 87,313 |  | (1) | 77,548 |  | (2) | 898 |  |  | 261,395 |  | (3) | 482,266 |
Total assets |  | $ | 1,092,261 |  |  | $ | 632,212 |  |  | $ | 690,549 |  |  | $ | 898 |  |  | $ | 263,857 |  |  | $ | 2,679,777 |
(1) | Balance consists primarily of development reimbursements from local municipalities and cash.
(2) | Balance consists primarily of goodwill (see Note 9), prepaid permits and fees to local municipalities and cash.
(3) | Balance consists primarily of cash and our deferred tax assets.

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- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: 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 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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