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OPERATING AND REPORTING SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Information

The following tables provide financial information about our reportable segments and Corporate and other categories (in thousands):

						Year Ended December 31, 2024
						West						Central						East						Total
Home closing revenue						$	2,223,876					$	1,739,553					$	2,378,117					$	6,341,546
Land closing revenue						—						6,017						16,309						22,326
Total closing revenue						2,223,876						1,745,570						2,394,426						6,363,872
Cost of home closings						1,715,856						1,283,014						1,762,833						4,761,703
Cost of land closings						—						4,149						14,160						18,309
Total cost of closings						1,715,856						1,287,163						1,776,993						4,780,012
Home closing gross profit						508,020						456,539						615,284						1,579,843
Land closing gross profit						—						1,868						2,149						4,017
Total closing gross profit						508,020						458,407						617,433						1,583,860
Home closing gross margin						22.8%						26.2%						25.9%						24.9%
Commissions and other sales costs						123,393						127,293						158,383						409,069
General and administrative expenses						52,837						43,921						67,435						164,193
Homebuilding segment operating income						331,790						287,193						391,615						1,010,598
Financial services segment profit																								14,410
Corporate and unallocated costs (1)																								(66,663)
Interest expense																								—
Other income, net																								45,156
Loss on early extinguishment of debt																								(631)
Net earnings before income taxes																								$	1,002,870

(1)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.

						Year Ended December 31, 2023
						West						Central						East						Total
Home closing revenue						$	2,107,095					$	1,798,939					$	2,150,750					$	6,056,784
Land closing revenue						35,324						6,694						14,211						56,229
Total closing revenue						2,142,419						1,805,633						2,164,961						6,113,013
Cost of home closings						1,671,330						1,316,692						1,566,649						4,554,671
Cost of land closings						31,963						5,363						14,460						51,786
Total cost of closings						1,703,293						1,322,055						1,581,109						4,606,457
Home closing gross profit						435,765						482,247						584,101						1,502,113
Land closing gross profit/(loss)						3,361						1,331						(249)						4,443
Total closing gross profit						439,126						483,578						583,852						1,506,556
Home closing gross margin						20.7%						26.8%						27.2%						24.8%
Commissions and other sales costs						115,020						131,873						138,018						384,911
General and administrative expenses						58,627						44,542						63,321						166,490
Homebuilding segment operating income						265,479						307,163						382,513						955,155
Financial services segment profit																								12,466
Corporate and unallocated costs (1)																								(65,232)
Interest expense																								—
Other income, net																								47,948
Loss on early extinguishment of debt																								(907)
Net earnings before income taxes																								$	949,430

(1)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.

						Year Ended December 31, 2022
						West						Central						East						Total
Home closing revenue						$	2,202,109					$	1,835,498					$	2,169,891					$	6,207,498
Land closing revenue						47,974						10,655						2,600						61,229
Total closing revenue						2,250,083						1,846,153						2,172,491						6,268,727
Cost of home closings						1,598,766						1,303,995						1,531,719						4,434,480
Cost of land closings						38,358						9,240						2,048						49,646
Total cost of closings						1,637,124						1,313,235						1,533,767						4,484,126
Home closing gross profit						603,343						531,503						638,172						1,773,018
Land closing gross profit						9,616						1,415						552						11,583
Total closing gross profit						612,959						532,918						638,724						1,784,601
Home closing gross margin						27.4%						29.0%						29.4%						28.6%
Commissions and other sales costs						95,993						112,658						114,615						323,266
General and administrative expenses						50,050						43,526						59,050						152,626
Homebuilding segment operating income						466,916						376,734						465,059						1,308,709
Financial services segment profit																								18,294
Corporate and unallocated costs (1)																								(40,358)
Interest expense																								(41)
Other income, net																								2,714
Net earnings before income taxes																								$	1,289,318

(1)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 Land Closing Revenue

Schedule of Segment Assets

			At December 31, 2024
			West						Central						East						Financial Services						Corporate and Unallocated						Total
Deposits on real estate under option or contract			$	30,179					$	28,563					$	133,663					$	—					$	—					$	192,405
Real estate			1,862,792						1,388,475						2,477,508						—						—						5,728,775
Investments in unconsolidated entities			9,062						1,800						17,016						—						857						28,735
Other assets			28,251			(1)			249,718			(2)			111,567			(3)			3,049						820,154			(4)			1,212,739
Total assets			$	1,930,284					$	1,668,556					$	2,739,754					$	3,049					$	821,011					$	7,162,654

(1)Balance consists primarily of property and equipment, net, prepaid expenses and other assets, and development receivables.

(2)Balance consists primarily of development reimbursements from local municipalities and prepaid expenses and other assets.

(3)Balance consists primarily of cash and cash equivalents, goodwill (see Note 10), and prepaid expenses and other assets.

(4)Balance consists primarily of cash and cash equivalents, deferred tax assets and prepaid expenses 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, 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.

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

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

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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://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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