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Segment information | 3 Months Ended
--- | ---
Mar. 31, 2024
Segment information [Abstract] |
Segment information | Note 17 ‑ Segment information: The Company operates one principal homebuilding business that is organized, managed and reported by geographic division. Management of the six geographic divisions report to the Company’s chief operating decision maker (CODM), which consists of the Chief Executive Officer and Chief Financial Officer of the Company. The CODM reviews the results of operations, including, among other things, total revenue and net income to assess profitability and allocate resources. Accordingly, the Company has presented its operations for the following six reportable segments: Alabama, Atlanta, Charlotte, Houston, Nashville, and Raleigh. Each reportable segment follows the accounting policies described in Note 1. The following tables summarize financial information by segment (in thousands):
|  | Three months ended March 31, |
|  | 2024 |  |  | 2023 |
Home closing revenue: |  |  |  |  |  |
Alabama |  | $ | 39,655 |  |  | $ | 24,067 |
Atlanta |  |  | 62,620 |  |  |  | 76,174 |
Charlotte |  |  | 13,464 |  |  |  | 12,502 |
Houston |  |  | 24,030 |  |  |  | — |
Nashville |  |  | 22,030 |  |  |  | 23,889 |
Raleigh |  |  | 27,410 |  |  |  | 31,512 |
Total |  | $ | 189,209 |  |  | $ | 168,144 |
|  | Three months ended March 31, |
|  | 2024 |  |  | 2023 |
Net income (loss): |  |  |  |  |  |
Alabama |  | $ | 4,604 |  |  | $ | 2,241 |
Atlanta |  |  | 14,571 |  |  |  | 19,549 |
Charlotte |  |  | 1,624 |  |  |  | 1,933 |
Houston |  |  | 3,366 |  |  |  | — |
Nashville |  |  | 2,313 |  |  |  | 3,231 |
Raleigh |  |  | 4,810 |  |  |  | 7,231 |
Segment total |  |  | 31,288 |  |  |  | 34,185 |
Corporate (1) |  |  | (10,802 | ) |  |  | (5,359 | )
Total |  | $ | 20,486 |  |  | $ | 28,826 |
(1) | Corporate primarily includes corporate overhead costs, such as payroll and benefits, business insurance, information technology, office costs, outside professional services and travel costs, and certain other amounts that are not allocated to the reportable segments.
|  | March 31, 2024 |  |  | December 31, 2023 |
Assets: |  |  |  |  |  |
Alabama |  | $ | 55,714 |  |  | $ | 61,433 |
Atlanta |  |  | 102,512 |  |  |  | 86,647 |
Charlotte |  |  | 32,458 |  |  |  | 32,302 |
Houston (1) |  |  | 101,929 |  |  |  | 93,825 |
Nashville |  |  | 23,045 |  |  |  | 24,818 |
Raleigh |  |  | 34,308 |  |  |  | 28,897 |
Segment total |  |  | 349,966 |  |  |  | 327,922 |
Corporate (2) |  |  | 51,284 |  |  |  | 24,770 |
Total |  | $ | 401,250 |  |  | $ | 352,692 |
(1) | Balance includes goodwill of approximately $25.7 million resulting from the acquisition of Devon Street Homes, L.P.
(2) | Corporate primarily includes cash and cash equivalents, property and equipment, and other assets that are not allocated to the segments.

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- 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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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