XML 117 R10.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2014
Segment Reporting [Abstract] |
Segment Information |
4. | Segment Information
Our operations consist of six homebuilding companies where we acquire and develop land and construct and sell single-family homes. In accordance with ASC Topic 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. Based on our aggregation analysis, we have not exercised any aggregation of our operating segments, which are represented by the following six reportable segments: Maracay, consisting of operations in Arizona; Pardee, consisting of operations in California and Nevada; Quadrant, consisting of operations in Washington; Trendmaker, consisting of operations in Texas; TRI Pointe, consisting of operations in California and Colorado; and Winchester, consisting of operations in Maryland and Virginia. Corporate is a non-operating segment that develops and implements company-wide strategic initiatives and provides support to our homebuilding reporting segments by centralizing certain administrative functions, such as marketing, legal, accounting, treasury, insurance and risk management, information technology and human resources, to benefit from economies of scale. Our Corporate non-operating segment also includes general and administrative expenses related to operating our corporate headquarters. A portion of the expenses incurred by Corporate is allocated to the homebuilding reporting segments. 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. Total revenues and income from continuing operations before income taxes for each of our reportable segments were as follows (in thousands):
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Total revenues |  |  |  |  |  |  |  |  |  |  |  |
Maracay |  | $ | 150,689 |  |  | $ | 145,822 |  |  | $ | 103,222 |
Pardee |  |  | 525,381 |  |  |  | 519,074 |  |  |  | 356,489 |
Quadrant |  |  | 145,377 |  |  |  | 127,237 |  |  |  | 127,785 |
Trendmaker |  |  | 281,270 |  |  |  | 260,566 |  |  |  | 298,396 |
TRI Pointe |  |  | 324,208 |  |  |  | — |  |  |  | — |
Winchester |  |  | 276,691 |  |  |  | 222,013 |  |  |  | 184,414 |
|  | $ | 1,703,616 |  |  | $ | 1,274,712 |  |  | $ | 1,070,306 |
Income (loss) from continuing operations before taxes |  |  |  |  |  |  |  |  |  |  |  |
Maracay |  | $ | 10,845 |  |  | $ | 10,438 |  |  | $ | 5,347 |
Pardee |  |  | 74,898 |  |  |  | (258,138 | ) |  |  | 87,691 |
Quadrant |  |  | 9,028 |  |  |  | 1,504 |  |  |  | (2,851 | )
Trendmaker |  |  | 31,684 |  |  |  | 28,452 |  |  |  | 29,472 |
TRI Pointe |  |  | 19,272 |  |  |  | — |  |  |  | — |
Winchester |  |  | 24,612 |  |  |  | 24,561 |  |  |  | 18,537 |
Corporate (1) |  |  | (42,375 | ) |  |  | (44,271 | ) |  |  | (38,567 | )
|  | $ | 127,964 |  |  | $ | (237,454 | ) |  | $ | 99,629 |
Impairments and lot option abandonments |  |  |  |  |  |  |  |  |  |  |  |
Maracay |  | $ | 443 |  |  | $ | 203 |  |  | $ | 181 |
Pardee |  |  | 306 |  |  |  | 343,661 |  |  |  | 133 |
Quadrant |  |  | 1,059 |  |  |  | 1,146 |  |  |  | 2,575 |
Trendmaker |  |  | 45 |  |  |  | 7 |  |  |  | — |
TRI Pointe |  |  | 49 |  |  |  | — |  |  |  | — |
Winchester |  |  | 613 |  |  |  | 431 |  |  |  | 702 |
Corporate |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 2,515 |  |  | $ | 345,448 |  |  | $ | 3,591 |
(1) | Includes $18.0 million of Merger related transaction costs and $5.5 million of restructuring charges for the year ended December 31, 2014.
Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands):
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |
Real estate inventories |  |  |  |  |  |  |  |
Maracay |  | $ | 153,577 |  |  | $ | 131,380 |
Pardee |  |  | 924,362 |  |  |  | 875,618 |
Quadrant |  |  | 153,493 |  |  |  | 113,088 |
Trendmaker |  |  | 176,696 |  |  |  | 130,973 |
TRI Pointe |  |  | 613,666 |  |  |  | — |
Winchester |  |  | 258,389 |  |  |  | 214,467 |
|  | $ | 2,280,183 |  |  | $ | 1,465,526 |
Total assets |  |  |  |  |  |  |  |
Maracay |  | $ | 170,932 |  |  | $ | 138,552 |
Pardee |  |  | 1,000,489 |  |  |  | 976,262 |
Quadrant |  |  | 167,796 |  |  |  | 125,456 |
Trendmaker |  |  | 195,829 |  |  |  | 134,628 |
TRI Pointe |  |  | 764,001 |  |  |  | — |
Winchester |  |  | 281,547 |  |  |  | 234,419 |
Corporate and Other |  |  | 332,930 |  |  |  | 301,147 |
|  | $ | 2,913,524 |  |  | $ | 1,910,464 |

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration