| Schedule of segment reporting information |
The following table summarizes total revenue
and income before income tax expense by segment:
| |
|
Nine Months Ended September 30, |
|
| |
|
2020 |
|
|
2019 |
|
| |
|
(dollars in thousands) |
|
| Revenue |
|
|
|
|
|
|
|
|
| Arizona |
|
$ |
194,383 |
|
|
$ |
22,433 |
|
| California |
|
|
255,487 |
|
|
|
322,416 |
|
| Metro New York (1) |
|
|
— |
|
|
|
— |
|
| Total revenue |
|
$ |
449,870 |
|
|
$ |
344,849 |
|
| |
|
|
|
|
|
|
|
|
| (Loss) income before income tax expense: |
|
|
|
|
|
|
|
|
| Arizona |
|
$ |
1,141 |
|
|
$ |
(1,297 |
) |
| California |
|
|
(1,364 |
) |
|
|
26,460 |
|
| Metro New York (1) |
|
|
(18,837 |
) |
|
|
(10,459 |
) |
| Corporate |
|
|
(7,420 |
) |
|
|
(4,655 |
) |
| Total (loss) income before income tax expense |
|
$ |
(26,480 |
) |
|
$ |
10,049 |
|
| |
(1) |
The Metro New York reportable segment does not currently have any active selling communities. Included in (loss) income before income tax expense is a $16.2 million loss and $7.5 million loss from unconsolidated joint ventures for the nine months ended September 30, 2020 and 2019, respectively. |
The following table summarizes total assets by segment:
| |
|
September 30, 2020 |
|
|
December 31, 2019 |
|
| |
|
(dollars in thousands) |
|
| Assets |
|
|
|
|
|
|
|
|
| Arizona |
|
$ |
282,041 |
|
|
$ |
100,086 |
|
| California |
|
|
445,790 |
|
|
|
542,774 |
|
| Metro New York |
|
|
115,959 |
|
|
|
153,123 |
|
| Corporate |
|
|
69,414 |
|
|
|
43,234 |
|
| Total assets |
|
$ |
913,204 |
|
|
$ |
839,217 |
|
|
The following table summarizes total revenue
and income before income tax expense by segment:
| |
|
Year Ended December 31, |
|
| |
|
2019 |
|
|
2018 |
|
|
2017 |
|
| |
|
(dollars in thousands) |
|
| Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
| Arizona |
|
$ |
40,024 |
|
|
$ |
— |
|
|
$ |
— |
|
| California |
|
|
590,964 |
|
|
|
378,617 |
|
|
|
197,306 |
|
| Metro New York (1) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total revenue |
|
$ |
630,988 |
|
|
$ |
378,617 |
|
|
$ |
197,306 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) before income tax expense: |
|
|
|
|
|
|
|
|
|
|
|
|
| Arizona |
|
$ |
(3,927 |
) |
|
$ |
(547 |
) |
|
$ |
— |
|
| California |
|
|
53,019 |
|
|
|
38,840 |
|
|
|
58 |
|
| Metro New York (1) |
|
|
(13,225 |
) |
|
|
8,631 |
|
|
|
1,164 |
|
| Corporate |
|
|
(7,317 |
) |
|
|
(5,605 |
) |
|
|
(1,367 |
) |
| Total income (loss) before income tax expense |
|
$ |
28,550 |
|
|
$ |
41,319 |
|
|
$ |
(145 |
) |
| |
(1) |
The Metro New York reportable segment does not currently have any activity selling communities. Included in income (loss) before income tax expense is a $7.9 million loss for an unconsolidated joint venture. |
The following table summarizes total assets by segment:
| |
|
Year Ended December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| |
|
(dollars in thousands) |
|
| Assets |
|
|
|
|
|
|
|
|
| Arizona |
|
$ |
100,086 |
|
|
$ |
6,182 |
|
| California |
|
|
542,774 |
|
|
|
650,750 |
|
| Metro New York |
|
|
153,123 |
|
|
|
154,188 |
|
| Corporate |
|
|
43,234 |
|
|
|
53,521 |
|
| Total assets |
|
$ |
839,217 |
|
|
$ |
864,641 |
|
|