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Segment Information | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Information | Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented. Financial information related to the Company’s reportable segments is as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenues: (1) |  |  |  |  |  |  |
Builder operations |  |  |  |  |  |  |
Central | $ | 389,697 |  |  | $ | 293,640 |  |  | $ | 1,094,212 |  |  | $ | 960,258 |
Southeast | 133,162 |  |  | 122,758 |  |  | 419,179 |  |  | 360,947 |
Total builder operations | 522,859 |  |  | 416,398 |  |  | 1,513,391 |  |  | 1,321,205 |
Land development | 801 |  |  | 2,580 |  |  | 18,238 |  |  | 6,123 |
Total revenues | $ | 523,660 |  |  | $ | 418,978 |  |  | $ | 1,531,629 |  |  | $ | 1,327,328 |
Gross profit: |  |  |  |  |  |  |
Builder operations |  |  |  |  |  |  |
Central | $ | 134,759 |  |  | $ | 108,699 |  |  | $ | 386,959 |  |  | $ | 318,982 |
Southeast | 47,749 |  |  | 40,931 |  |  | 153,271 |  |  | 120,128 |
Total builder operations | 182,508 |  |  | 149,630 |  |  | 540,230 |  |  | 439,110 |
Land development | 447 |  |  | 737 |  |  | 1,527 |  |  | 2,283 |
Corporate, other and unallocated (2) | (11,392) |  |  | (11,354) |  |  | (32,271) |  |  | (34,839) |
Total gross profit | $ | 171,563 |  |  | $ | 139,013 |  |  | $ | 509,486 |  |  | $ | 406,554 |
Income before income taxes: |  |  |  |  |  |  |
Builder operations |  |  |  |  |  |  |
Central | $ | 95,223 |  |  | $ | 76,967 |  |  | $ | 275,547 |  |  | $ | 219,784 |
Southeast | 33,601 |  |  | 27,204 |  |  | 109,812 |  |  | 81,969 |
Total builder operations | 128,824 |  |  | 104,171 |  |  | 385,359 |  |  | 301,753 |
Land development | 361 |  |  | 1,148 |  |  | 2,376 |  |  | 3,063 |
Corporate, other and unallocated (3) | (10,209) |  |  | (7,233) |  |  | (13,949) |  |  | (15,346) |
Income before income taxes | $ | 118,976 |  |  | $ | 98,086 |  |  | $ | 373,786 |  |  | $ | 289,470 |
| September 30, 2024 |  | December 31, 2023
Inventory: |  |  |
Builder operations |  |  |
Central | $ | 743,588 |  |  | $ | 645,987 |
Southeast | 348,393 |  |  | 314,087 |
Total builder operations | 1,091,981 |  |  | 960,074 |
Land development | 777,154 |  |  | 529,711 |
Corporate, other and unallocated (4) | 48,911 |  |  | 43,438 |
Total inventory | $ | 1,918,046 |  |  | $ | 1,533,223 |
Goodwill: |  |  |
Builder operations - Southeast | $ | 680 |  |  | $ | 680 |
(1)The sum of Builder operations Central and Southeast segments’ revenues does not equal residential units revenue included in the condensed consolidated statements of income in periods when our builders have revenues from land or lot closings. No land or lot closings revenue was recognized for the three months ended September 30, 2024. For the nine months ended September 30, 2024, land and lot closings revenue was $0.1 million, while $0.5 million was recognized for the three and nine months ended September 30, 2023. (2)Corporate, other and unallocated gross loss is comprised of capitalized overhead and capitalized interest adjustments that are not allocated to builder operations and land development segments. (3)Corporate, other and unallocated income (loss) before income taxes includes results from Green Brick Title, LLC, Ventana Insurance, LLC, GRBK Mortgage, LLC, and investments in unconsolidated subsidiaries, in addition to capitalized cost adjustments that are not allocated to operating segments. (4)Corporate, other and unallocated inventory consists of capitalized overhead and interest related to homes under construction and land under development.

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- Definition The entire disclosure for reporting segments including data and tables. 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