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OPERATING AND REPORTING SEGMENTS
12 Months Ended
Dec. 31, 2023
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 ten 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 three reportable homebuilding segments are as follows:
West:           Arizona, California, Colorado and Utah
Central:      Texas
East:           Florida, Georgia, North Carolina, South Carolina and Tennessee
Management’s evaluation of segment performance is based on segment operating income, which we define as home and land closing revenue less cost of home and land closings, including land development and other land sales costs, commissions and other sales costs, and other general and administrative costs incurred by or allocated to each segment, including impairments. Each reportable segment follows the same accounting policies described in Note 1, “Business and Summary of Significant Accounting Policies.” 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:
 Years Ended December 31,
 202320222021
Homebuilding revenue (1):
West$2,142,419 $2,250,083 $1,935,845 
Central1,805,633 1,846,153 1,504,481 
East2,164,961 2,172,491 1,679,784 
Consolidated total6,113,013 6,268,727 5,120,110 
Homebuilding segment operating income:
West265,479 466,916 379,093 
Central307,163 376,734 319,435 
East382,513 465,059 302,487 
Total homebuilding segment operating income 955,155 1,308,709 1,001,015 
Financial services segment profit12,466 18,294 18,034 
Corporate and unallocated costs (2)(65,232)(40,358)(50,573)
Interest expense— (41)(318)
Other income, net47,948 2,714 4,864 
Loss on early extinguishment of debt(907)— (18,188)
Net earnings before income taxes$949,430 $1,289,318 $954,834 
(1)Homebuilding revenue includes the following land closing revenue, by segment:
Years Ended December 31,
Land closing revenue:202320222021
West$35,324 $47,974 $21,426 
Central6,694 10,655 3,799 
East14,211 2,600 12 
Total$56,229 $61,229 $25,237 

(2)Balance consists primarily of corporate costs and shared service functions such as finance and treasury that are not allocated to the homebuilding or financial services reporting segments.
 At December 31, 2023
 WestCentralEastFinancial ServicesCorporate and
Unallocated
Total
Deposits on real estate under option or contract$11,695 $10,911 $88,758 $— $— $111,364 
Real estate1,748,732 1,257,054 1,715,505 — — 4,721,291 
Investments in unconsolidated entities— 2,825 13,411 — 934 17,170 
Other assets101,376 (1)272,876 (2)102,425 (3)1,889 1,024,743 (4)1,503,309 
Total assets$1,861,803 $1,543,666 $1,920,099 $1,889 $1,025,677 $6,353,134 
 
(1)Balance consists primarily of cash and cash equivalents, receivables from title companies or closing agents and property and equipment, net.
(2)Balance consists primarily of cash and cash equivalents, development reimbursements from local municipalities and prepaid expenses and other assets.
(3)Balance consists primarily of cash and cash equivalents, goodwill (see Note 10), prepaid expenses and other assets and property and equipment, net.
(4)Balance consists primarily of cash and cash equivalents, deferred tax assets and prepaid expenses and other assets.
 At December 31, 2022
 WestCentralEastFinancial ServicesCorporate  and
Unallocated
Total
Deposits on real estate under option or contract$21,599 $8,992 $46,138 $— $— $76,729 
Real estate1,775,879 1,298,455 1,283,929 — — 4,358,263 
Investments in unconsolidated entities110 2,866 7,503 — 1,274 11,753 
Other assets99,267 (1)241,470 (2)132,181 (3)1,536 850,902 (4)1,325,356 
Total assets$1,896,855 $1,551,783 $1,469,751 $1,536 $852,176 $5,772,101 

(1)Balance consists primarily of cash and cash equivalents, development reimbursements from local municipalities and property and equipment, net.
(2)Balance consists primarily of cash and cash equivalents, development reimbursements from local municipalities and prepaid expenses and other assets.
(3)Balance consists primarily of cash and cash equivalents, goodwill, prepaid expenses and other assets and property and equipment, net.
(4)Balance consists primarily of cash and cash equivalents, deferred tax assets and prepaid expenses and other assets.