Segment Information

We operate two principal businesses: homebuilding and financial services.

Our homebuilding operations consist of six homebuilding companies, each operating under different brand names, through which we acquire and develop land and construct and sell single-family detached and attached 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, brand names, and underlying demand and supply. Based upon these factors, our homebuilding operations comprise the following six reportable segments: Maracay, consisting of operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California, Colorado and the early stages of expansion into the Carolinas; and Winchester Homes, consisting of operations in Maryland and Virginia.

Our TRI Pointe Solutions financial services operation is a reportable segment and is comprised of our TRI Pointe Connect mortgage financing operations, our TRI Pointe Assurance title services operations, and our TRI Pointe Advantage property and casualty insurance agency operations. For further details, see Note 1, Organization and Summary of Significant Accounting Policies.

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, internal audit 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 used for our consolidated financial statements, as described in Note 1, Organization and Summary of Significant Accounting Policies. 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 before income taxes for each of our reportable segments were as follows (in thousands):



	2018			2017			2016
Revenues
Maracay	$	263,321		$	296,768		$	255,253
Pardee Homes	999,710			826,033			730,848
Quadrant Homes	307,706			247,939			213,221
Trendmaker Homes	310,730			253,825			244,001
TRI Pointe Homes	1,073,592			927,247			723,186
Winchester Homes	305,950			257,089			237,413
Total homebuilding revenues	3,261,009			2,808,901			2,403,922
Financial services	1,738			1,371			1,220
Total	$	3,262,747		$	2,810,272		$	2,405,142
Income before taxes
Maracay	$	23,281		$	23,987		$	17,189
Pardee Homes	191,793			198,738			204,237
Quadrant Homes	38,366			32,671			21,209
Trendmaker Homes	25,228			16,764			15,353
TRI Pointe Homes	115,632			89,811			62,013
Winchester Homes	23,981			15,472			16,147
Corporate	(65,889		)	(45,091		)	(39,698		)
Total homebuilding income before income taxes	352,392			332,352			296,450
Financial services	9,673			7,466			5,777
Total	$	362,065		$	339,818		$	302,227

Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands):



	December 31, 2018		December 31, 2017
Real estate inventories
Maracay	$	293,217	$	243,883
Pardee Homes	1,286,877		1,245,659
Quadrant Homes	279,486		257,887
Trendmaker Homes	271,061		204,926
TRI Pointe Homes	812,799		855,727
Winchester Homes	272,619		297,471
Total	$	3,216,059	$	3,105,553
Total assets
Maracay	$	318,703	$	268,866
Pardee Homes	1,391,503		1,346,296
Quadrant Homes	313,947		312,803
Trendmaker Homes	325,943		224,995
TRI Pointe Homes	987,610		1,062,920
Winchester Homes	298,602		313,921
Corporate	228,010		262,740
Total homebuilding assets	3,864,318		3,792,541
Financial services	19,885		12,840
Total	$	3,884,203	$	3,805,381