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Business Segments Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | three and six months ended June 30, 2025 and 2024:
| Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(In thousands) | 2025 |  | 2024 |  |  | 2025 |  | 2024 |
Revenue: |  |  |  |  |  |  |  |  |
Northern homebuilding | $ | 488,250 |  |  | $ | 464,781 |  |  |  | $ | 898,627 |  |  | $ | 873,301 |  |
Southern homebuilding | 642,892 |  |  | 614,238 |  |  |  | 1,177,088 |  |  | 1,225,459 |  |
Financial services (a) | 31,450 |  |  | 30,762 |  |  |  | 62,970 |  |  | 57,724 |  |
Total revenue | $ | 1,162,592 |  |  | $ | 1,109,781 |  |  |  | $ | 2,138,685 |  |  | $ | 2,156,484 |  |
Cost of Sales: |  |  |  |  |  |  |  |  |
Northern homebuilding | $ | 376,979 |  |  | $ | 357,830 |  |  |  | $ | 696,438 |  |  | $ | 677,541 |  |
Southern homebuilding | 498,994 |  |  | 442,671 |  |  |  | 902,845 |  |  | 886,320 |  |
Financial services (a) | — |  |  | — |  |  |  | — |  |  | — |  |
Total cost of sales | $ | 875,973 |  |  | $ | 800,501 |  |  |  | $ | 1,599,283 |  |  | $ | 1,563,861 |  |
General and administrative expense: |  |  |  |  |  |  |  |  |
Northern homebuilding | $ | 10,823 |  |  | $ | 10,124 |  |  |  | $ | 19,959 |  |  | $ | 19,565 |  |
Southern homebuilding | 21,004 |  |  | 18,061 |  |  |  | 39,812 |  |  | 35,631 |  |
Financial services (a) | 13,908 |  |  | 12,879 |  |  |  | 26,661 |  |  | 24,654 |  |
Segment general and administrative expense | $ | 45,735 |  |  | $ | 41,064 |  |  |  | $ | 86,432 |  |  | $ | 79,850 |  |
Corporate and unallocated general and administrative expense | 21,512 |  |  | 22,930 |  |  |  | 39,888 |  |  | 40,228 |  |
Total general and administrative expense | $ | 67,247 |  |  | $ | 63,994 |  |  |  | $ | 126,320 |  |  | $ | 120,078 |  |
Selling expense: |  |  |  |  |  |  |  |  |
Northern homebuilding | $ | 24,434 |  |  | $ | 24,006 |  |  |  | $ | 45,624 |  |  | $ | 45,313 |  |
Southern homebuilding | 38,594 |  |  | 33,756 |  |  |  | 69,700 |  |  | 65,915 |  |
Financial services (a) | — |  |  | — |  |  |  | — |  |  | — |  |
Segment selling expense | $ | 63,028 |  |  | $ | 57,762 |  |  |  | $ | 115,324 |  |  | $ | 111,228 |  |
Corporate and unallocated selling expense | 627 |  |  | 733 |  |  | 1,117 |  |  | 1,207 |  |
Total selling expense | $ | 63,655 |  |  | $ | 58,495 |  |  |  | $ | 116,441 |  |  | $ | 112,435 |  |
Operating income: |  |  |  |  |  |  |  |  |
Northern homebuilding | $ | 76,014 |  |  | $ | 72,821 |  |  |  | $ | 136,606 |  |  | $ | 130,882 |  |
Southern homebuilding | 84,300 |  |  | 119,750 |  |  |  | 164,731 |  |  | 237,593 |  |
Financial services (a) | 17,542 |  |  | 17,883 |  |  |  | 36,309 |  |  | 33,070 |  |
Segment operating income | $ | 177,856 |  |  | $ | 210,454 |  |  |  | 337,646 |  |  | $ | 401,545 |  |
Corporate selling, general and administrative expense | (22,139) |  |  | (23,663) |  |  |  | (41,005) |  |  | (41,435) |  |
Total operating income | $ | 155,717 |  |  | $ | 186,791 |  |  |  | $ | 296,641 |  |  | $ | 360,110 |  |
Interest (income) expense - net: |  |  |  |  |  |  |  |  |
Northern homebuilding | $ | (24) |  |  | $ | (56) |  |  |  | $ | (46) |  |  | $ | (136) |  |
Southern homebuilding | (1) |  |  | — |  |  |  | (3) |  |  | (398) |  |
Financial services (a) | 3,066 |  |  | 3,483 |  |  |  | 5,727 |  |  | 6,358 |  |
Segment Interest (income) expense - net | $ | 3,041 |  |  | $ | 3,427 |  |  |  | 5,678 |  |  | $ | 5,824 |  |
Corporate Interest (income) expense - net | (7,418) |  |  | (10,775) |  |  |  | (15,252) |  |  | (20,092) |  |
Total interest income, net of interest expense | $ | (4,377) |  |  | $ | (7,348) |  |  |  | $ | (9,574) |  |  | $ | (14,268) |  |
Income before income taxes | $ | 160,094 |  |  | $ | 194,139 |  |  |  | $ | 306,215 |  |  | $ | 374,378 |  |
(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, 2025 and December 31, 2024:
| June 30, 2025 |  |  |  |
(In thousands) | Northern |  | Southern |  | Financial Services |  | Segment Total |  | Corporate and Unallocated |  | Total
Deposits on real estate under option or contract | $ | 14,023 |  |  | $ | 62,748 |  |  | $ | — |  |  | $ | 76,771 |  |  | $ | — |  |  | $ | 76,771 |
Inventory (a) | 1,085,181 |  |  | 2,124,654 |  |  | — |  |  | 3,209,835 |  |  | — |  |  | 3,209,835 |
Investments in joint venture arrangements | — |  |  | 67,466 |  |  | — |  |  | 67,466 |  |  | — |  |  | 67,466 |
Other assets | 46,032 |  |  | 151,613 |  | (b) | 377,271 |  |  | 574,916 |  |  | 811,051 |  |  | 1,385,967 |
Total assets | $ | 1,145,236 |  |  | $ | 2,406,481 |  |  | $ | 377,271 |  |  | $ | 3,928,988 |  |  | $ | 811,051 |  |  | $ | 4,740,039 |
| December 31, 2024 |  |  |  |
(In thousands) | Northern |  | Southern |  | Financial Services |  | Segment Total |  | Corporate and Unallocated |  | Total
Deposits on real estate under option or contract | $ | 12,209 |  |  | $ | 57,274 |  |  | $ | — |  |  | $ | 69,483 |  |  | $ | — |  |  | $ | 69,483 |
Inventory (a) | 1,041,713 |  |  | 1,980,666 |  |  | — |  |  | 3,022,379 |  |  | — |  |  | 3,022,379 |
Investments in joint venture arrangements | — |  |  | 65,334 |  |  | — |  |  | 65,334 |  |  | — |  |  | 65,334 |
Other assets | 37,721 |  |  | 132,316 |  | (b) | 370,558 |  |  | 540,595 |  |  | 852,005 |  |  | 1,392,600 |
Total assets | $ | 1,091,643 |  |  | $ | 2,235,590 |  |  | $ | 370,558 |  |  | $ | 3,697,791 |  |  | $ | 852,005 |  |  | $ | 4,549,796 |
(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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