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Business Segments Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following table shows, by segment, revenue, operating income (loss) and interest (income) expense - net for the three and six months ended June 30, 2024 and 2023, as well as the Company’s income before income taxes for such periods:
| Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(In thousands) | 2024 |  | 2023 |  |  | 2024 |  | 2023 |
Revenue: |  |  |  |  |  |  |  |  |
Northern homebuilding | $ | 464,781 |  |  | $ | 383,886 |  |  |  | $ | 873,301 |  |  | $ | 766,616 |  |
Southern homebuilding | 614,238 |  |  | 604,861 |  |  |  | 1,225,459 |  |  | 1,197,380 |  |
Financial services (a) | 30,762 |  |  | 25,266 |  |  |  | 57,724 |  |  | 50,547 |  |
Total revenue | $ | 1,109,781 |  |  | $ | 1,014,013 |  |  |  | $ | 2,156,484 |  |  | $ | 2,014,543 |  |
Operating income (loss): |  |  |  |  |  |  |  |  |
Northern homebuilding | $ | 72,821 |  |  | $ | 46,853 |  |  |  | $ | 130,882 |  |  | $ | 86,013 |  |
Southern homebuilding | 119,750 |  |  | 109,912 |  |  |  | 237,593 |  |  | 207,524 |  |
Financial services (a) | 17,883 |  |  | 13,743 |  |  |  | 33,070 |  |  | 28,711 |  |
Less: Corporate selling, general and administrative expense | (23,663) |  |  | (19,849) |  |  |  | (41,435) |  |  | (37,003) |  |
Total operating income | $ | 186,791 |  |  | $ | 150,659 |  |  |  | $ | 360,110 |  |  | $ | 285,245 |  |
Interest (income) expense - net: |  |  |  |  |  |  |  |  |
Northern homebuilding | $ | (56) |  |  | $ | (47) |  |  |  | $ | (136) |  |  | $ | (93) |  |
Southern homebuilding | — |  |  | (203) |  |  |  | (398) |  |  | (205) |  |
Financial services (a) | 3,483 |  |  | 2,584 |  |  |  | 6,358 |  |  | 4,911 |  |
Corporate | (10,775) |  |  | (7,004) |  |  |  | (20,092) |  |  | (10,672) |  |
Total interest income, net of interest expense | $ | (7,348) |  |  | $ | (4,670) |  |  |  | $ | (14,268) |  |  | $ | (6,059) |  |
Other income | — |  |  | (28) |  |  |  | — |  |  | (35) |  |
Income before income taxes | $ | 194,139 |  |  | $ | 155,357 |  |  |  | $ | 374,378 |  |  | $ | 291,339 |  |
(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 an immaterial amount of mortgage refinancing.
Reconciliation of Assets from Segment to Consolidated | The following tables show total assets by segment at June 30, 2024 and December 31, 2023:
| June 30, 2024
(In thousands) | Northern |  | Southern |  | Corporate, Financial Services and Unallocated |  | Total
Deposits on real estate under option or contract | $ | 11,003 |  |  | $ | 51,943 |  |  | $ | — |  |  | $ | 62,946 |
Inventory (a) | 1,020,600 |  |  | 1,854,918 |  |  | — |  |  | 2,875,518 |
Investments in joint venture arrangements | — |  |  | 46,180 |  |  | — |  |  | 46,180 |
Other assets | 48,208 |  |  | 149,437 |  | (b) | 1,157,781 |  |  | 1,355,426 |
Total assets | $ | 1,079,811 |  |  | $ | 2,102,478 |  |  | $ | 1,157,781 |  |  | $ | 4,340,070 |
| December 31, 2023
(In thousands) | Northern |  | Southern |  | Corporate, Financial Services and Unallocated |  | Total
Deposits on real estate under option or contract | $ | 8,990 |  |  | $ | 42,618 |  |  | $ | — |  |  | $ | 51,608 |
Inventory (a) | 1,016,982 |  |  | 1,728,561 |  |  | — |  |  | 2,745,543 |
Investments in joint venture arrangements | — |  |  | 44,011 |  |  | — |  |  | 44,011 |
Other assets | 37,171 |  |  | 104,306 |  | (b) | 1,039,801 |  |  | 1,181,278 |
Total assets | $ | 1,063,143 |  |  | $ | 1,919,496 |  |  | $ | 1,039,801 |  |  | $ | 4,022,440 |
(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. (b)Includes development reimbursements from local municipalities.

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