XML 24 R8.htm IDEA: XBRL DOCUMENT v3.19.1

Segment Information

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Information

Segment Information

We operate two principal businesses: homebuilding and financial services.

Our homebuilding operations consist of six homebuilding brands that 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, and underlying demand and supply. Based upon these factors, our homebuilding operations are comprised of 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 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, Basis of Presentation 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, Basis of Presentation 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):

	Three Months Ended March 31,
	2019				2018
Revenues
Maracay	$	39,561			$	58,455
Pardee Homes	134,863				180,470
Quadrant Homes	43,871				61,903
Trendmaker Homes	70,821				41,408
TRI Pointe Homes	171,791				190,420
Winchester Homes	33,423				50,737
Total homebuilding revenues	494,330				583,393
Financial services	302				283
Total	$	494,632			$	583,676
Income (loss) before income taxes
Maracay	$	1,190			$	4,391
Pardee Homes	(791		)		39,191
Quadrant Homes	(2,639		)		8,140
Trendmaker Homes	(1,598		)		370
TRI Pointe Homes	10,209				14,531
Winchester Homes	(766		)		1,607
Corporate	(6,266		)		(11,838		)
Total homebuilding (loss) income before income taxes	(661		)		56,392
Financial services	756				1,148
Total	$	95			$	57,540

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

	March 31, 2019				December 31, 2018
Real estate inventories
Maracay	$	320,459			$	293,217
Pardee Homes	1,300,853				1,286,877
Quadrant Homes	273,621				279,486
Trendmaker Homes	284,734				271,061
TRI Pointe Homes	780,568				812,799
Winchester Homes	282,443				272,619
Total	$	3,242,678			$	3,216,059
Total assets
Maracay	$	352,968			$	318,703
Pardee Homes	1,404,466				1,391,503
Quadrant Homes	346,697				313,947
Trendmaker Homes	315,713				325,943
TRI Pointe Homes	966,252				987,610
Winchester Homes	312,636				298,602
Corporate	136,689				228,010
Total homebuilding assets	3,835,421				3,864,318
Financial services	20,474				19,885
Total	$	3,855,895			$	3,884,203

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Name:	us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration