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Segment Information
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Segment Information

10. Segment Information

The Company’s operations are organized into two reportable segments: homebuilding and fee building (construction services). In accordance with ASC 280, Segment Reporting, in determining the most appropriate reportable segments, we considered similar economic and other characteristics, including product types, average selling prices, gross profits, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, and underlying demand and supply.

The reportable segments follow the same accounting policies as our consolidated financial statements described in Note 1. 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.

As of December 31, 2013 we had completed all construction activity related to our fee building projects and do not expect material fee building activity in the future. Financial information relating to reportable segments for the three and six months ended June 30, 2014 and 2013, was as follows (in thousands):

 

     Three Months Ended      Six Months Ended  
     June 30,      June 30,  
     2014      2013      2014      2013  

Revenues

            

Homebuilding

    $ 87,336       $ 47,457       $ 160,148       $ 71,314   

Fee building

      —           3,630         —           7,661   
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 87,336       $ 51,087       $ 160,148       $ 78,975   
  

 

 

     

 

 

     

 

 

     

 

 

  

Gross profit

            

Homebuilding

    $ 20,681       $ 9,139       $ 37,061       $ 13,547   

Fee building

      —           235         —           641   
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 20,681       $ 9,374       $ 37,061       $ 14,188   
  

 

 

     

 

 

     

 

 

     

 

 

  
     June 30,      December 31,  
     2014      2013  

Assets

      

Homebuilding

    $ 601,187       $ 505,174   

Fee building

      —           861   
  

 

 

     

 

 

  
   $ 601,187       $ 506,035