XML 29 R16.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2025
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,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenues: (1) |  |  |  |  |  |  |
Builder operations |  |  |  |  |  |  |
Central | $ | 391,108 |  |  | $ | 389,697 |  |  | $ | 1,174,323 |  |  | $ | 1,094,212 |
Southeast | 107,983 |  |  | 133,162 |  |  | 367,194 |  |  | 419,179 |
Total builder operations | 499,091 |  |  | 522,859 |  |  | 1,541,517 |  |  | 1,513,391 |
Land development | — |  |  | 801 |  |  | 4,342 |  |  | 18,238 |
Total revenues | $ | 499,091 |  |  | $ | 523,660 |  |  | $ | 1,545,859 |  |  | $ | 1,531,629 |
Gross profit: |  |  |  |  |  |  |
Builder operations |  |  |  |  |  |  |
Central | $ | 130,937 |  |  | $ | 134,759 |  |  | $ | 383,781 |  |  | $ | 386,959 |
Southeast | 35,834 |  |  | 47,749 |  |  | 126,256 |  |  | 153,271 |
Total builder operations | 166,771 |  |  | 182,508 |  |  | 510,037 |  |  | 540,230 |
Land development | — |  |  | 447 |  |  | 2,199 |  |  | 1,527 |
Corporate, other and unallocated (2) | (11,309) |  |  | (11,392) |  |  | (33,475) |  |  | (32,271) |
Total gross profit | $ | 155,462 |  |  | $ | 171,563 |  |  | $ | 478,761 |  |  | $ | 509,486 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Segment expenses: |  |  |  |  |  |  |
Commissions |  |  |  |  |  |  |
Builder operations |  |  |  |  |  |  |
Central | $ | 19,248 |  |  | $ | 19,213 |  |  | $ | 57,142 |  |  | $ | 53,725 |
Southeast | 3,637 |  |  | 4,771 |  |  | 12,605 |  |  | 15,073 |
Total builder operations | 22,885 |  |  | 23,984 |  |  | 69,747 |  |  | 68,798 |
Corporate, other and unallocated | 579 |  |  | — |  |  | 1,082 |  |  | — |
Total commissions | $ | 23,464 |  |  | $ | 23,984 |  |  | $ | 70,829 |  |  | $ | 68,798 |
Salaries |  |  |  |  |  |  |
Builder operations |  |  |  |  |  |  |
Central | $ | 11,113 |  |  | $ | 10,768 |  |  | $ | 34,356 |  |  | $ | 32,786 |
Southeast | 6,177 |  |  | 6,394 |  |  | 18,882 |  |  | 19,329 |
Total builder operations | 17,290 |  |  | 17,162 |  |  | 53,238 |  |  | 52,115 |
Land development | — |  |  | — |  |  | — |  |  | — |
Corporate, other and unallocated | 2,505 |  |  | 661 |  |  | 3,452 |  |  | 2,844 |
Total salaries | $ | 19,795 |  |  | $ | 17,823 |  |  | $ | 56,690 |  |  | $ | 54,959 |
Interest expense (income): |  |  |  |  |  |  |
Builder operations |  |  |  |  |  |  |
Central | $ | (228) |  |  | $ | (107) |  |  | $ | (453) |  |  | $ | (47) |
Southeast | 4,656 |  |  | 9,652 |  |  | 15,805 |  |  | 29,981 |
Total builder operations | 4,428 |  |  | 9,545 |  |  | 15,352 |  |  | 29,934 |
Corporate, other and unallocated | (4,428) |  |  | (9,545) |  |  | (15,352) |  |  | (29,934) |
Total interest expense, net | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other expenses |  |  |  |  |  |  |
Builder operations |  |  |  |  |  |  |
Central | $ | 10,831 |  |  | $ | 10,282 |  |  | $ | 29,946 |  |  | $ | 27,342 |
Southeast | 3,963 |  |  | 3,910 |  |  | 12,179 |  |  | 11,399 |
Total builder operations | 14,794 |  |  | 14,192 |  |  | 42,125 |  |  | 38,741 |
Land development | 421 |  |  | 82 |  |  | 806 |  |  | 224 |
Corporate, other and unallocated | 1,071 |  |  | 1,659 |  |  | 2,357 |  |  | 3,190 |
Total other expenses | $ | 16,286 |  |  | $ | 15,933 |  |  | $ | 45,288 |  |  | $ | 42,155 |
Total segment expenses |  |  |  |  |  |  |
Builder operations |  |  |  |  |  |  |
Central | $ | 41,192 |  |  | $ | 40,263 |  |  | $ | 121,444 |  |  | $ | 113,853 |
Southeast | 13,777 |  |  | 15,075 |  |  | 43,666 |  |  | 45,801 |
Total builder operations | 54,969 |  |  | 55,338 |  |  | 165,110 |  |  | 159,654 |
Land development | 421 |  |  | 82 |  |  | 806 |  |  | 224 |
Corporate, other and unallocated | 2,750 |  |  | 2,320 |  |  | 6,891 |  |  | 6,034 |
Total segment expenses | $ | 58,140 |  |  | $ | 57,740 |  |  | $ | 172,807 |  |  | $ | 165,912 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Income before income taxes: |  |  |  |  |  |  |
Central | $ | 91,934 |  |  | $ | 95,223 |  |  | $ | 263,839 |  |  | $ | 275,547 |
Southeast | 22,629 |  |  | 33,601 |  |  | 84,902 |  |  | 109,812 |
Total builder operations | 114,563 |  |  | 128,824 |  |  | 348,741 |  |  | 385,359 |
Land development | (192) |  |  | 361 |  |  | 1,717 |  |  | 2,376 |
Corporate, other and unallocated (3) | (7,736) |  |  | (10,209) |  |  | (25,387) |  |  | (13,949) |
Income before income taxes | $ | 106,635 |  |  | $ | 118,976 |  |  | $ | 325,071 |  |  | $ | 373,786 |
| September 30, 2025 |  | December 31, 2024
Inventory: |  |  |
Builder operations |  |  |
Central | $ | 726,614 |  |  | $ | 743,490 |
Southeast | 319,364 |  |  | 318,592 |
Total builder operations | 1,045,978 |  |  | 1,062,082 |
Land development | 999,323 |  |  | 826,687 |
Corporate, other and unallocated (4) | 54,794 |  |  | 48,963 |
Total inventory | $ | 2,100,095 |  |  | $ | 1,937,732 |
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 each of the three months ended September 30, 2025 and 2024. Land and lost closings revenue were $4.3 million and $0.1 million for the nine months ended September 30, 2025 and 2024, respectively. (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, Green Brick Insurance Services, 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 work in process and land under development.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration