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Reporting Segments
 3 Months Ended
Mar. 31, 2024
Reporting Segments [Abstract]  
Reporting Segments 2. Reporting Segments

Our homebuilding operations are engaged in the development, design, construction, marketing and sale of single-family attached and detached homes in 18 states. We build and sell homes under our Century Communities and Century Complete brands. Our Century Communities brand is managed by geographic location, and each of our four geographic regions offers a wide range of buyer profiles including: entry-level, first and second time move-up, and lifestyle homebuyers, and provides our homebuyers with the ability to personalize their homes through certain option and upgrade selections. Each of our four geographic regions is considered a separate operating segment. Our Century Complete brand targets entry-level homebuyers, primarily sells homes through retail studios and the internet, and generally provides no option or upgrade selections. Our Century Complete brand currently has operations in 11 states and it is considered a separate operating segment.

The management of our four Century Communities geographic regions and Century Complete reports to our chief operating decision makers (which we refer to as “CODMs”), the Co-Chief Executive Officers of our Company. The CODMs review the results of our operations, including total revenue and income before income tax expense to determine profitability and to allocate resources. Accordingly, we have presented our homebuilding operations as the following five reportable segments:

 

West (California and Washington)

Mountain (Arizona, Colorado, Nevada, and Utah)

Texas

Southeast (Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee)

Century Complete (Alabama, Arizona, Florida, Georgia, Indiana, Kentucky, Louisiana, Michigan, North Carolina, Ohio, South Carolina)

We have identified our Financial Services operations, which provide mortgage, title, insurance and escrow services to our homebuyers, as a sixth reportable segment. Our Corporate operations are a non-operating segment, as our Corporate operations serve to support our homebuilding, and to a lesser extent our Financial Services operations, through functions, such as our executive, finance, treasury, human resources, accounting and legal departments.

Additionally, our wholly owned subsidiary, Century Living, LLC, is engaged in the development, construction and management of multi-family rental properties, currently all located in Colorado. Century Living, LLC is included in our Corporate segment. 

The following table summarizes total revenue and income (loss) before income tax expense by segment (in thousands):

Three Months Ended March 31,

2024

2023

Revenue:

West

$

172,648

$

129,081

Mountain

254,279

246,275

Texas

131,273

89,532

Southeast

161,658

87,126

Century Complete

203,760

185,121

Financial Services

24,925

15,855

Corporate

—

—

Total revenue

$

948,543

$

752,990

Income (loss) before income tax expense:

West

$

26,707

$

7,973

Mountain

27,808

27,808

Texas

13,872

3,673

Southeast

20,796

11,966

Century Complete

21,101

13,950

Financial Services

10,048

5,074

Corporate

(36,012)

(26,435)

Total income before income tax expense

$

84,320

$

44,009

The following table summarizes total assets by segment (in thousands):

March 31,

December 31,

2024

2023

West

$

787,198

$

786,489

Mountain

1,050,830

1,051,052

Texas

617,785

577,129

Southeast

542,895

503,249

Century Complete

417,352

386,444

Financial Services

397,700

450,208

Corporate

297,817

384,791

Total assets

$

4,111,577

$

4,139,362

Corporate assets primarily include costs associated with development of multi-family rental properties, certain cash and cash equivalents, certain property and equipment, deferred tax assets, certain receivables, and prepaid insurance.