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OPERATING AND REPORTING SEGMENTS (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Information | The following segment information is in thousands:
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Homebuilding revenue (1): |  |  |  |  |  |  |
West | $ | 515,632 |  |  | $ | 434,137 |  |  |  |  |
Central | 427,565 |  |  | 425,450 |  |  |  |  |
East | 525,204 |  |  | 419,721 |  |  |  |  |
Consolidated total | $ | 1,468,401 |  |  | $ | 1,279,308 |  |  |  |  |
Homebuilding segment operating income: |  |  |  |  |  |  |
West | $ | 71,264 |  |  | $ | 38,809 |  |  |  |  |
Central | 73,103 |  |  | 65,291 |  |  |  |  |
East | 94,277 |  |  | 60,876 |  |  |  |  |
Total homebuilding segment operating income | 238,644 |  |  | 164,976 |  |  |  |  |
Financial services segment (loss)/profit | (690) |  |  | 2,923 |  |  |  |  |
Corporate and unallocated costs (2) | (12,961) |  |  | (11,440) |  |  |  |  |
Interest expense | — |  |  | — |  |  |  |  |
Other income, net | 9,022 |  |  | 8,844 |  |  |  |  |
Earnings before income taxes | $ | 234,015 |  |  | $ | 165,303 |  |  |  |  |
(1)Homebuilding revenue includes the following land closing revenue, by segment:
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Land closing revenue: |  |  |  |  |  |  |
West | $ | — |  |  | $ | 16,815 |  |  |  |  |
Central | — |  |  | 570 |  |  |  |  |
East | 2,305 |  |  | — |  |  |  |  |
Total | $ | 2,305 |  |  | $ | 17,385 |  |  |  |  |
(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.
Schedule of Segment Assets |
|  | At March 31, 2024
|  | West |  | Central |  | East |  | Financial Services |  | Corporate and Unallocated |  | Total
Deposits on real estate under option or contract |  | $ | 19,728 |  |  | $ | 11,758 |  |  | $ | 91,327 |  |  | $ | — |  |  | $ | — |  |  | $ | 122,813 |
Real estate |  | 1,754,805 |  |  | 1,296,459 |  |  | 1,863,248 |  |  | — |  |  | — |  |  | 4,914,512 |
Investments in unconsolidated entities |  | — |  |  | 2,813 |  |  | 14,996 |  |  | — |  |  | 934 |  |  | 18,743 |
Other assets |  | 55,572 |  | (1) | 266,400 |  | (2) | 105,453 |  | (3) | 2,767 |  |  | 1,003,045 |  | (4) | 1,433,237 |
Total assets |  | $ | 1,830,105 |  |  | $ | 1,577,430 |  |  | $ | 2,075,024 |  |  | $ | 2,767 |  |  | $ | 1,003,979 |  |  | $ | 6,489,305 |
(1)Balance consists primarily of cash and cash equivalents, prepaids and other assets and property and equipment, net. (2)Balance consists primarily of cash and cash equivalents, development reimbursements from local municipalities and prepaids and other assets. (3)Balance consists primarily of cash and cash equivalents, goodwill (see Note 9), prepaids and other assets and property and equipment, net. (4)Balance consists primarily of cash and cash equivalents, deferred tax assets, net and prepaids and other assets.
|  | At December 31, 2023
|  | West |  | Central |  | East |  | Financial Services |  | Corporate and Unallocated |  | Total
Deposits on real estate under option or contract |  | $ | 11,695 |  |  | $ | 10,911 |  |  | $ | 88,758 |  |  | $ | — |  |  | $ | — |  |  | $ | 111,364 |
Real estate |  | 1,748,732 |  |  | 1,257,054 |  |  | 1,715,505 |  |  | — |  |  | — |  |  | 4,721,291 |
Investments in unconsolidated entities |  | — |  |  | 2,825 |  |  | 13,411 |  |  | — |  |  | 934 |  |  | 17,170 |
Other assets |  | 101,376 |  | (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 prepaids and other assets. (3)Balance consists primarily of cash and cash equivalents, goodwill (see Note 9), prepaids and other assets and property and equipment, net. (4)Balance consists primarily of cash and cash equivalents, deferred tax assets, net and prepaids and other assets.

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