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Business Segments | 3 Months Ended
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Mar. 31, 2015
Business Segments [Abstract] |
Segment Reporting Disclosure [Text Block] | Business Segments The Company’s chief operating decision makers evaluate the Company’s performance in various ways, including: (1) the results of our 13 individual homebuilding operating segments and the results of our financial services operations; (2) the results of our three homebuilding regions; and (3) our consolidated financial results. In accordance with ASC 280, Segment Reporting (“ASC 280”), we have identified each homebuilding division as an operating segment as each homebuilding division engages in business activities from which it earns revenue, primarily from the sale and construction of single-family attached and detached homes, acquisition and development of land, and the occasional sale of lots to third parties. Our financial services operations generate revenue primarily from the origination, sale and servicing of mortgage loans and title services primarily for purchasers of the Company’s homes and are included in our financial services reportable segment. In accordance with the aggregation criteria defined in ASC 280, we have determined our reportable segments as follows: Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations. The homebuilding operating segments that are included within each reportable segment have been aggregated because they share similar aggregation characteristics as prescribed in ASC 280 in the following regards: (1) long-term economic characteristics; (2) historical and expected future long-term gross margin percentages; (3) housing products, production processes and methods of distribution; and (4) geographical proximity. The homebuilding operating segments that comprise each of our reportable segments are as follows:
Midwest | Southern | Mid-Atlantic
Columbus, Ohio | Tampa, Florida | Washington, D.C.
Cincinnati, Ohio | Orlando, Florida | Charlotte, North Carolina
Indianapolis, Indiana | Houston, Texas | Raleigh, North Carolina
Chicago, Illinois | San Antonio, Texas |
| Austin, Texas |
| Dallas/Fort Worth, Texas |
The following table shows, by segment: revenue, operating income and interest expense for the three months ended March 31, 2015 and 2014:
| Three Months Ended March 31,
(In thousands) | 2015 |  | 2014
Revenue: |  |  |
Midwest homebuilding | $ | 85,217 |  |  | $ | 79,604 |
Southern homebuilding | 98,555 |  |  | 80,200 |
Mid-Atlantic homebuilding | 71,289 |  |  | 67,172 |
Financial services (a) | 8,098 |  |  | 7,865 |
Total revenue | $ | 263,159 |  |  | $ | 234,841 |
Operating income: |  |  |
Midwest homebuilding | $ | 7,796 |  |  | $ | 7,243 |
Southern homebuilding | 8,591 |  |  | 5,877 |
Mid-Atlantic homebuilding | 4,760 |  |  | 4,793 |
Financial services (a) | 5,324 |  |  | 5,026 |
Less: Corporate selling, general and administrative expense | (6,515 | ) |  | (6,346 | )
Total operating income | $ | 19,956 |  |  | $ | 16,593 |
Interest expense: |  |  |
Midwest homebuilding | $ | 1,324 |  |  | $ | 1,269 |
Southern homebuilding | 1,774 |  |  | 1,591 |
Mid-Atlantic homebuilding | 1,033 |  |  | 995 |
Financial services (a) | 331 |  |  | 315 |
Total interest expense | $ | 4,462 |  |  | $ | 4,170 |
Equity in income of unconsolidated joint ventures | (198 | ) |  | (62 | )
Income before income taxes | $ | 15,692 |  |  | $ | 12,485 |
(a) | Our financial services operational results should be viewed in connection with our homebuilding business as its operations originate loans and provide title services primarily for our homebuying customers, with the exception of a small amount of mortgage re-financing.
The following tables show total assets by segment at March 31, 2015 and December 31, 2014:
| March 31, 2015
(In thousands) | Midwest |  | Southern |  | Mid-Atlantic |  | Corporate, Financial Services and Unallocated |  | Total
Deposits on real estate under option or contract | $ | 4,426 |  |  | $ | 13,894 |  |  | $ | 3,874 |  |  | $ | — |  |  | $ | 22,194 |
Inventory (a) | 301,790 |  |  | 368,092 |  |  | 266,994 |  |  | — |  |  | 936,876 |
Investments in unconsolidated joint ventures | 1,866 |  |  | 27,583 |  |  | — |  |  | — |  |  | 29,449 |
Other assets | 9,020 |  |  | 21,025 |  |  | 7,748 |  |  | 224,452 |  |  | 262,245 |
Total assets | $ | 317,102 |  |  | $ | 430,594 |  |  | $ | 278,616 |  |  | $ | 224,452 |  |  | $ | 1,250,764 |
| December 31, 2014
(In thousands) | Midwest |  | Southern |  | Mid-Atlantic |  | Corporate, Financial Services and Unallocated |  | Total
Deposits on real estate under option or contract | $ | 4,573 |  |  | $ | 14,752 |  |  | $ | 4,170 |  |  | $ | — |  |  | $ | 23,495 |
Inventory (a) | 303,037 |  |  | 331,938 |  |  | 260,119 |  |  | — |  |  | 895,094 |
Investments in unconsolidated joint ventures | 1,764 |  |  | 26,005 |  |  | — |  |  | — |  |  | 27,769 |
Other assets | 7,933 |  |  | 16,829 |  |  | 7,536 |  |  | 232,754 |  |  | 265,052 |
Total assets | $ | 317,307 |  |  | $ | 389,524 |  |  | $ | 271,825 |  |  | $ | 232,754 |  |  | $ | 1,211,410 |
(a) | Inventory includes single-family lots, land and land development costs; land held for sale; homes under construction; model homes and furnishings; community development district infrastructure; and consolidated inventory not owned.

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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 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: 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=6534315&loc=d3e8933-108599 Reference 3: 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=6534315&loc=d3e8844-108599 Reference 4: 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=6534315&loc=d3e8538-108599 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=6534315&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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: 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=6534315&loc=d3e8984-108599 Reference 8: 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=6534315&loc=d3e9038-108599 Reference 9: 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=6534315&loc=d3e8906-108599 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=6534315&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 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: 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=6534315&loc=d3e9031-108599 Reference 13: 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=6534315&loc=d3e8971-108599 Reference 14: 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=6534315&loc=d3e8595-108599 + Details
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