v3.8.0.1

Segment Information

3 Months Ended

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

X

- References

No definition available.

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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