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Segment Information (Tables) | 9 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The following tables contain our revenue, operating income, and depreciation and amortization by segment for the periods presented:
| Three Months Ended |  | Nine Months Ended
| June 30, |  | June 30,
in thousands | 2024 |  | 2023 |  | 2024 |  | 2023
Revenue |  |  |  |  |  |  |
West | $ | 369,359 |  |  | $ | 328,347 |  |  | $ | 953,790 |  |  | $ | 933,575 |
East | 123,565 |  |  | 133,096 |  |  | 310,186 |  |  | 339,357 |
Southeast | 102,758 |  |  | 111,101 |  |  | 260,064 |  |  | 288,448 |
Total revenue | $ | 595,682 |  |  | $ | 572,544 |  |  | $ | 1,524,040 |  |  | $ | 1,561,380 |
| Three Months Ended |  | Nine Months Ended
| June 30, |  | June 30,
in thousands | 2024 |  | 2023 |  | 2024 |  | 2023
Operating income |  |  |  |  |  |  |
West | $ | 45,582 |  |  | $ | 55,629 |  |  | $ | 119,951 |  |  | $ | 138,499 |
East | 9,158 |  |  | 16,415 |  |  | 27,796 |  |  | 41,921 |
Southeast | 12,755 |  |  | 16,930 |  |  | 32,848 |  |  | 39,126 |
Segment total | 67,495 |  |  | 88,974 |  |  | 180,595 |  |  | 219,546 |
Corporate and unallocated(a) | (38,971) |  |  | (41,074) |  |  | (95,815) |  |  | (104,352) |
Total operating income | $ | 28,524 |  |  | $ | 47,900 |  |  | $ | 84,780 |  |  | $ | 115,194 |
(a) Includes amortization of capitalized interest, capitalization and amortization of indirect costs, impairment of capitalized interest and capitalized indirect costs, when applicable, expenses related to numerous shared services functions that benefit all segments but are not allocated to the operating segments reported above, including information technology, treasury, corporate finance, legal, branding and national marketing, and certain other amounts that are not allocated to our operating segments. Below operating income, we recognized a gain on sale of investment of $8.6 million during the nine months ended June 30, 2024 within other income, net. We previously held a minority interest in a technology company specializing in digital marketing for new home communities, which was sold d uring the quarter ended March 31, 2024. In exchange for the previously held investment, we received cash in escrow along with a minority partnership interest in the acquiring company, which was recorded within other asset s in our condensed consolidated balance sheets.
| Three Months Ended |  | Nine Months Ended
| June 30, |  | June 30,
in thousands | 2024 |  | 2023 |  | 2024 |  | 2023
Depreciation and amortization |  |  |  |  |  |  |
West | $ | 2,520 |  |  | $ | 1,750 |  |  | $ | 6,283 |  |  | $ | 5,294 |
East | 494 |  |  | 402 |  |  | 1,109 |  |  | 1,063 |
Southeast | 397 |  |  | 421 |  |  | 985 |  |  | 1,149 |
Segment total | 3,411 |  |  | 2,573 |  |  | 8,377 |  |  | 7,506 |
Corporate and unallocated(a) | 481 |  |  | 334 |  |  | 1,321 |  |  | 934 |
Total depreciation and amortization | $ | 3,892 |  |  | $ | 2,907 |  |  | $ | 9,698 |  |  | $ | 8,440 |
(a) Represents depreciation and amortization related to assets held by our corporate functions that benefit all segments. The following table presents capital expenditures by segment for the periods presented:
| Nine Months Ended
| June 30,
in thousands | 2024 |  | 2023
Capital expenditures |  |  |
West | $ | 9,132 |  |  | $ | 6,840 |
East | 1,829 |  |  | 1,975 |
Southeast | 756 |  |  | 1,273 |
Corporate and unallocated | 4,974 |  |  | 4,034 |
Total capital expenditures | $ | 16,691 |  |  | $ | 14,122 |
The following table presents assets by segment as of June 30, 2024 and September 30, 2023:
in thousands | June 30, 2024 |  | September 30, 2023
Assets |  |  |
West | $ | 1,220,127 |  |  | $ | 994,597 |
East | 477,204 |  |  | 356,020 |
Southeast | 391,874 |  |  | 320,430 |
Corporate and unallocated(a) | 505,341 |  |  | 739,986 |
Total assets | $ | 2,594,546 |  |  | $ | 2,411,033 |
(a) Primarily consists of cash and cash equivalents, restricted cash, deferred taxes, capitalized interest and indirect costs, and other items that are not allocated to the segments.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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