v3.8.0.1

Segment Information | 3 Months Ended
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Mar. 31, 2018
Segment Information |
Segment Information | Note 7 - Segment Information Our operating segments are defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the chief operating decision maker to evaluate performance and make operating decisions. We have identified our chief operating decision maker as our Chief Executive Officer. Our reportable segments are as follows: Florida, the Carolinas, Arizona and Texas. The following table summarizes our information for reportable segments for the three months ended March 31, 2018 and 2017 (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2018 |  | 2017 |
Operating income: |  |  |  |  |  |  |
Florida |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |
Homebuilding |  | $ | 58,103 |  | $ | 70,487 |
Amenity and other |  |  | 4,818 |  |  | 4,637 |
Land sales |  |  | 2,045 |  |  | 1,469 |
Total revenues |  |  | 64,966 |  |  | 76,593 |
Expenses: |  |  |  |  |  |  |
Homebuilding cost of revenue |  |  | 45,077 |  |  | 55,994 |
Homebuilding selling, general and administrative |  |  | 9,102 |  |  | 9,298 |
Amenity and other |  |  | 5,222 |  |  | 4,307 |
Land sales |  |  | 231 |  |  | 196 |
Segment operating income |  | $ | 5,334 |  | $ | 6,798 |
Carolinas |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |
Homebuilding |  | $ | 53,904 |  | $ | 46,845 |
Land sales |  |  | — |  |  | 782 |
Total revenues |  |  | 53,904 |  |  | 47,627 |
Expenses: |  |  |  |  |  |  |
Homebuilding cost of revenue |  |  | 48,163 |  |  | 40,133 |
Homebuilding selling, general and administrative |  |  | 6,957 |  |  | 5,023 |
Land sales |  |  | — |  |  | 786 |
Segment operating income (loss) |  | $ | (1,216) |  | $ | 1,685 |
Arizona |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |
Homebuilding |  | $ | 25,246 |  | $ | 31,328 |
Total revenue |  |  | 25,246 |  |  | 31,328 |
Expenses: |  |  |  |  |  |  |
Homebuilding cost of revenue |  |  | 21,134 |  |  | 26,738 |
Homebuilding selling, general and administrative |  |  | 3,125 |  |  | 3,371 |
Amenity and other |  |  | 22 |  |  | 23 |
Segment operating income |  | $ | 965 |  | $ | 1,196 |
Texas |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |
Homebuilding |  | $ | 7,892 |  | $ | — |
Total revenue |  |  | 7,892 |  |  | — |
Expenses: |  |  |  |  |  |  |
Homebuilding cost of revenue |  |  | 6,603 |  |  | — |
Homebuilding selling, general and administrative |  |  | 1,587 |  |  | — |
Segment operating loss |  | $ | (298) |  | $ | — |
Operating income |  | $ | 4,785 |  | $ | 9,679 |
Unallocated income (expenses): |  |  |  |  |  |  |
Interest income and other |  |  | 269 |  |  | 5 |
Corporate general and administrative expenses |  |  | (4,744) |  |  | (4,679) |
Interest expense |  |  | (3,391) |  |  | (837) |
Income (loss) before income taxes |  |  | (3,081) |  |  | 4,168 |
Income tax expense (benefit) |  |  | (738) |  |  | 1,729 |
Net income (loss) |  | $ | (2,343) |  | $ | 2,439 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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