| Schedule of Segment Reporting Information, by Segment [Table Text Block] |
The following table shows, by segment, revenue, operating income (loss) and interest expense (income) for the three and nine months ended September 30, 2022 and 2021, as well as the Company’s income before income taxes for such periods: | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | | Nine Months Ended September 30, | | | (In thousands) | 2022 | | 2021 | | | 2022 | | 2021 | | | Revenue: | | | | | | | | | | | Northern homebuilding | $ | 415,741 | | | $ | 400,564 | | | | $ | 1,242,341 | | | $ | 1,151,349 | | | | Southern homebuilding | 577,088 | | | 482,960 | | | | 1,608,468 | | | 1,463,707 | | | Financial services (a) | 20,099 | | | 20,795 | | | | 63,584 | | | 79,079 | | | | Total revenue | $ | 1,012,928 | | | $ | 904,319 | | | | $ | 2,914,393 | | | $ | 2,694,135 | | | | | | | | | | | | | | Operating income (loss): | | | | | | | | | | | Northern homebuilding | $ | 59,623 | | | $ | 59,009 | | | | $ | 173,917 | | | $ | 159,975 | | | | Southern homebuilding | 119,311 | | | 72,957 | | | | 323,628 | | | 218,236 | | | Financial services (a) | 9,233 | | | 10,820 | | | | 32,774 | | | 50,381 | | | | Less: Corporate selling, general and administrative expense | (20,872) | | | (17,566) | | | | (57,254) | | | (50,361) | | | | Total operating income | $ | 167,295 | | | $ | 125,220 | | | | $ | 473,065 | | | $ | 378,231 | | | | | | | | | | | | | | Interest expense (income): | | | | | | | | | | | Northern homebuilding | $ | 2 | | | $ | — | | | | $ | 2 | | | $ | 76 | | | | Southern homebuilding | (651) | | | (381) | | | | (653) | | | (224) | | | Financial services (a) | 1,350 | | | 885 | | | | 3,169 | | | 2,777 | | | | Corporate | — | | | (578) | | | | (453) | | | (1,075) | | | | Total interest expense (income) | $ | 701 | | | $ | (74) | | | | $ | 2,065 | | | $ | 1,554 | | | | | | | | | | | | | | Other loss (income) | $ | — | | | $ | 50 | | | | $ | (17) | | | $ | (145) | | | | Loss on early extinguishment of debt | — | | | 9,072 | | | | — | | | 9,072 | | | | | | | | | | | | | | | | | | | | | | | | Income before income taxes | $ | 166,594 | | | $ | 116,172 | | | | $ | 471,017 | | | $ | 367,750 | | |
(a)Our financial services operational results should be viewed in connection with our homebuilding business as its operations originate loans and provide title services primarily for our homebuying customers, with the exception of an immaterial amount of mortgage refinancing.
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| Reconciliation of Assets from Segment to Consolidated |
The following tables show total assets by segment at September 30, 2022 and December 31, 2021: | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2022 | | (In thousands) | Northern | | Southern | | Corporate, Financial Services and Unallocated | | Total | | Deposits on real estate under option or contract | $ | 6,939 | | | $ | 49,738 | | | $ | — | | | $ | 56,677 | | Inventory (a) | 1,165,675 | | | 1,794,383 | | | — | | | 2,960,058 | | | Investments in joint venture arrangements | — | | | 51,700 | | | — | | | 51,700 | | | Other assets | 41,927 | | | 95,321 | | (b) | 382,230 | | | 519,478 | | | Total assets | $ | 1,214,541 | | | $ | 1,991,142 | | | $ | 382,230 | | | $ | 3,587,913 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2021 | | (In thousands) | Northern | | Southern | | Corporate, Financial Services and Unallocated | | Total | | Deposits on real estate under option or contract | $ | 4,123 | | | $ | 48,795 | | | $ | — | | | $ | 52,918 | | Inventory (a) | 987,258 | | | 1,412,258 | | | — | | | 2,399,516 | | | Investments in joint venture arrangements | — | | | 57,121 | | | — | | | 57,121 | | | Other assets | 37,527 | | | 63,844 | | (b) | 628,927 | | | 730,298 | | | Total assets | $ | 1,028,908 | | | $ | 1,582,018 | | | $ | 628,927 | | | $ | 3,239,853 | |
(a)Inventory includes single-family lots, land and land development costs; land held for sale; homes under construction; model homes and furnishings; community development district infrastructure; and consolidated inventory not owned. (b)Includes development reimbursements from local municipalities.
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