XML 101 R80.htm IDEA: XBRL DOCUMENT v3.25.0.1
OPERATING AND REPORTING SEGMENTS - Schedule of Segment Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment information on operating results      
Corporate and unallocated costs $ (230,856) $ (231,722) $ (192,984)
Interest expense 0 0 (41)
Other income, net 45,156 47,948 2,714
Loss on early extinguishment of debt (631) (907) 0
Net earnings before income taxes $ 1,002,870 $ 949,430 $ 1,289,318
Operating Segments [Member] | Homebuilding      
Segment information on operating results      
Home closing gross margin 24.90% 24.80% 28.60%
Commissions and other sales costs $ 409,069 $ 384,911 $ 323,266
Corporate and unallocated costs (164,193) (166,490) (152,626)
Operating Income $ 1,010,598 $ 955,155 $ 1,308,709
Operating Segments [Member] | Homebuilding | West      
Segment information on operating results      
Home closing gross margin 22.80% 20.70% 27.40%
Commissions and other sales costs $ 123,393 $ 115,020 $ 95,993
Corporate and unallocated costs (52,837) (58,627) (50,050)
Operating Income $ 331,790 $ 265,479 $ 466,916
Operating Segments [Member] | Homebuilding | Central      
Segment information on operating results      
Home closing gross margin 26.20% 26.80% 29.00%
Commissions and other sales costs $ 127,293 $ 131,873 $ 112,658
Corporate and unallocated costs (43,921) (44,542) (43,526)
Operating Income $ 287,193 $ 307,163 $ 376,734
Operating Segments [Member] | Homebuilding | East      
Segment information on operating results      
Home closing gross margin 25.90% 27.20% 29.40%
Commissions and other sales costs $ 158,383 $ 138,018 $ 114,615
Corporate and unallocated costs (67,435) (63,321) (59,050)
Operating Income 391,615 382,513 465,059
Operating Segments [Member] | Financial Services [Member]      
Segment information on operating results      
Operating Income 14,410 12,466 18,294
Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding      
Segment information on operating results      
Total closing revenue 6,363,872 6,113,013 6,268,727
Total cost of closings 4,780,012 4,606,457 4,484,126
Total closing gross profit 1,583,860 1,506,556 1,784,601
Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding | West      
Segment information on operating results      
Total closing revenue 2,223,876 2,142,419 2,250,083
Total cost of closings 1,715,856 1,703,293 1,637,124
Total closing gross profit 508,020 439,126 612,959
Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding | Central      
Segment information on operating results      
Total closing revenue 1,745,570 1,805,633 1,846,153
Total cost of closings 1,287,163 1,322,055 1,313,235
Total closing gross profit 458,407 483,578 532,918
Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding | East      
Segment information on operating results      
Total closing revenue 2,394,426 2,164,961 2,172,491
Total cost of closings 1,776,993 1,581,109 1,533,767
Total closing gross profit 617,433 583,852 638,724
Corporate and Unallocated [Member]      
Segment information on operating results      
Corporate and unallocated costs (66,663) [1] (65,232) (40,358)
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member]      
Segment information on operating results      
Interest expense 0 0 (41)
Other income, net 45,156 47,948 2,714
Homebuilding      
Segment information on operating results      
Total closing revenue 6,363,872 6,113,013 6,268,727
Total closing gross profit 1,583,860 1,506,556 1,784,601
Homebuilding | Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding      
Segment information on operating results      
Total closing revenue 6,341,546 6,056,784 6,207,498
Total cost of closings 4,761,703 4,554,671 4,434,480
Total closing gross profit 1,579,843 1,502,113 1,773,018
Homebuilding | Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding | West      
Segment information on operating results      
Total closing revenue 2,223,876 2,107,095 2,202,109
Total cost of closings 1,715,856 1,671,330 1,598,766
Total closing gross profit 508,020 435,765 603,343
Homebuilding | Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding | Central      
Segment information on operating results      
Total closing revenue 1,739,553 1,798,939 1,835,498
Total cost of closings 1,283,014 1,316,692 1,303,995
Total closing gross profit 456,539 482,247 531,503
Homebuilding | Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding | East      
Segment information on operating results      
Total closing revenue 2,378,117 2,150,750 2,169,891
Total cost of closings 1,762,833 1,566,649 1,531,719
Total closing gross profit 615,284 584,101 638,172
Land      
Segment information on operating results      
Total closing revenue 22,326 56,229 61,229
Total closing gross profit 4,017 4,443 11,583
Land | Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding      
Segment information on operating results      
Total closing revenue 22,326 56,229 61,229
Total cost of closings 18,309 51,786 49,646
Total closing gross profit 4,017 4,443 11,583
Land | Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding | West      
Segment information on operating results      
Total closing revenue 0 35,324 47,974
Total cost of closings 0 31,963 38,358
Total closing gross profit 0 3,361 9,616
Land | Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding | Central      
Segment information on operating results      
Total closing revenue 6,017 6,694 10,655
Total cost of closings 4,149 5,363 9,240
Total closing gross profit 1,868 1,331 1,415
Land | Operating Segments [Member] | Reportable Subsegments [Member] | Homebuilding | East      
Segment information on operating results      
Total closing revenue 16,309 14,211 2,600
Total cost of closings 14,160 14,460 2,048
Total closing gross profit $ 2,149 $ (249) $ 552
[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
WestCentralEastTotal
Home closing revenue$2,107,095 $1,798,939 $2,150,750 $6,056,784 
Land closing revenue35,324 6,694 14,211 56,229 
Total closing revenue2,142,419 1,805,633 2,164,961 6,113,013 
Cost of home closings1,671,330 1,316,692 1,566,649 4,554,671 
Cost of land closings31,963 5,363 14,460 51,786 
Total cost of closings1,703,293 1,322,055 1,581,109 4,606,457 
Home closing gross profit435,765 482,247 584,101 1,502,113 
Land closing gross profit/(loss)3,361 1,331 (249)4,443 
Total closing gross profit439,126 483,578 583,852 1,506,556 
Home closing gross margin20.7%26.8%27.2%24.8%
Commissions and other sales costs115,020 131,873 138,018 384,911 
General and administrative expenses58,627 44,542 63,321 166,490 
Homebuilding segment operating income265,479 307,163 382,513 955,155 
Financial services segment profit12,466 
Corporate and unallocated costs (1)(65,232)
Interest expense— 
Other income, net47,948 
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
WestCentralEastTotal
Home closing revenue$2,202,109 $1,835,498 $2,169,891 $6,207,498 
Land closing revenue47,974 10,655 2,600 61,229 
Total closing revenue2,250,083 1,846,153 2,172,491 6,268,727 
Cost of home closings1,598,766 1,303,995 1,531,719 4,434,480 
Cost of land closings38,358 9,240 2,048 49,646 
Total cost of closings1,637,124 1,313,235 1,533,767 4,484,126 
Home closing gross profit603,343 531,503 638,172 1,773,018 
Land closing gross profit9,616 1,415 552 11,583 
Total closing gross profit612,959 532,918 638,724 1,784,601 
Home closing gross margin27.4%29.0%29.4%28.6%
Commissions and other sales costs95,993 112,658 114,615 323,266 
General and administrative expenses50,050 43,526 59,050 152,626 
Homebuilding segment operating income466,916 376,734 465,059 1,308,709 
Financial services segment profit18,294 
Corporate and unallocated costs (1)(40,358)
Interest expense(41)
Other income, net2,714 
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.