XML 52 R37.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Supplemental Guarantor Information (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2016
Supplemental Guarantor Information [Abstract] |
Condensed Consolidating Statements | Consolidating Balance Sheet September 30, 2016
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,076.4 |  |  | $ | 154.0 |  |  | $ | 72.8 |  |  | $ | — |  |  | $ | 1,303.2 |
Restricted cash | 7.4 |  |  | 2.1 |  |  | — |  |  | — |  |  | 9.5 |
Investments in subsidiaries | 4,118.6 |  |  | — |  |  | — |  |  | (4,118.6 | ) |  | — |
Inventories | 2,822.1 |  |  | 5,425.7 |  |  | 93.1 |  |  | — |  |  | 8,340.9 |
Deferred income taxes | 159.3 |  |  | 314.1 |  |  | 2.9 |  |  | — |  |  | 476.3 |
Property and equipment, net | 72.0 |  |  | 49.9 |  |  | 78.7 |  |  | (5.2 | ) |  | 195.4 |
Other assets | 168.7 |  |  | 274.2 |  |  | 56.7 |  |  | — |  |  | 499.6 |
Mortgage loans held for sale | — |  |  | — |  |  | 654.0 |  |  | — |  |  | 654.0 |
Goodwill | — |  |  | 80.0 |  |  | — |  |  | — |  |  | 80.0 |
Intercompany receivables | 1,604.5 |  |  | — |  |  | — |  |  | (1,604.5 | ) |  | — |
Total Assets | $ | 10,029.0 |  |  | $ | 6,300.0 |  |  | $ | 958.2 |  |  | $ | (5,728.3 | ) |  | $ | 11,558.9 |
LIABILITIES & EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and other liabilities | $ | 444.1 |  |  | $ | 933.1 |  |  | $ | 119.2 |  |  | $ | (1.8 | ) |  | $ | 1,494.6 |
Intercompany payables | — |  |  | 1,417.1 |  |  | 187.4 |  |  | (1,604.5 | ) |  | — |
Notes payable | 2,789.0 |  |  | 9.3 |  |  | 473.0 |  |  | — |  |  | 3,271.3 |
Total Liabilities | 3,233.1 |  |  | 2,359.5 |  |  | 779.6 |  |  | (1,606.3 | ) |  | 4,765.9 |
Stockholders’ equity | 6,795.9 |  |  | 3,940.5 |  |  | 178.1 |  |  | (4,122.0 | ) |  | 6,792.5 |
Noncontrolling interests | — |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.5 |
Total Equity | 6,795.9 |  |  | 3,940.5 |  |  | 178.6 |  |  | (4,122.0 | ) |  | 6,793.0 |
Total Liabilities & Equity | $ | 10,029.0 |  |  | $ | 6,300.0 |  |  | $ | 958.2 |  |  | $ | (5,728.3 | ) |  | $ | 11,558.9 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Balance Sheet September 30, 2015
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,217.7 |  |  | $ | 94.6 |  |  | $ | 71.5 |  |  | $ | — |  |  | $ | 1,383.8 |
Restricted cash | 7.4 |  |  | 2.3 |  |  | — |  |  | — |  |  | 9.7 |
Investments in subsidiaries | 3,479.7 |  |  | — |  |  | — |  |  | (3,479.7 | ) |  | — |
Inventories | 2,597.3 |  |  | 5,184.3 |  |  | 25.4 |  |  | — |  |  | 7,807.0 |
Deferred income taxes | 179.9 |  |  | 373.0 |  |  | 5.2 |  |  | — |  |  | 558.1 |
Property and equipment, net | 54.6 |  |  | 52.7 |  |  | 39.6 |  |  | — |  |  | 146.9 |
Other assets | 199.5 |  |  | 240.4 |  |  | 87.4 |  |  | — |  |  | 527.3 |
Mortgage loans held for sale | — |  |  | — |  |  | 631.0 |  |  | — |  |  | 631.0 |
Goodwill | — |  |  | 87.2 |  |  | — |  |  | — |  |  | 87.2 |
Intercompany receivables | 1,932.2 |  |  | — |  |  | — |  |  | (1,932.2 | ) |  | — |
Total Assets | $ | 9,668.3 |  |  | $ | 6,034.5 |  |  | $ | 860.1 |  |  | $ | (5,411.9 | ) |  | $ | 11,151.0 |
LIABILITIES & EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and other liabilities | $ | 447.2 |  |  | $ | 872.8 |  |  | $ | 124.1 |  |  | $ | — |  |  | $ | 1,444.1 |
Intercompany payables | — |  |  | 1,856.7 |  |  | 75.5 |  |  | (1,932.2 | ) |  | — |
Notes payable | 3,326.8 |  |  | 6.8 |  |  | 477.9 |  |  | — |  |  | 3,811.5 |
Total Liabilities | 3,774.0 |  |  | 2,736.3 |  |  | 677.5 |  |  | (1,932.2 | ) |  | 5,255.6 |
Stockholders’ equity | 5,894.3 |  |  | 3,298.2 |  |  | 181.5 |  |  | (3,479.7 | ) |  | 5,894.3 |
Noncontrolling interests | — |  |  | — |  |  | 1.1 |  |  | — |  |  | 1.1 |
Total Equity | 5,894.3 |  |  | 3,298.2 |  |  | 182.6 |  |  | (3,479.7 | ) |  | 5,895.4 |
Total Liabilities & Equity | $ | 9,668.3 |  |  | $ | 6,034.5 |  |  | $ | 860.1 |  |  | $ | (5,411.9 | ) |  | $ | 11,151.0 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Year Ended September 30, 2016
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
Homebuilding: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 3,947.5 |  |  | $ | 7,930.3 |  |  | $ | — |  |  | $ | (16.0 | ) |  | $ | 11,861.8 |
Cost of sales | 3,163.6 |  |  | 6,357.5 |  |  | (7.7 | ) |  | (10.8 | ) |  | 9,502.6 |
Gross profit | 783.9 |  |  | 1,572.8 |  |  | 7.7 |  |  | (5.2 | ) |  | 2,359.2 |
Selling, general and administrative expense | 503.8 |  |  | 592.7 |  |  | 3.8 |  |  | — |  |  | 1,100.3 |
Goodwill impairment | — |  |  | 7.2 |  |  | — |  |  | — |  |  | 7.2 |
Equity in (income) of subsidiaries | (1,071.0 | ) |  | — |  |  | — |  |  | 1,071.0 |  |  | — |
Other (income) expense | (7.6 | ) |  | (3.9 | ) |  | (1.2 | ) |  | — |  |  | (12.7 | )
Homebuilding pre-tax income | 1,358.7 |  |  | 976.8 |  |  | 5.1 |  |  | (1,076.2 | ) |  | 1,264.4 |
Financial Services and Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | — |  |  | — |  |  | 295.6 |  |  | — |  |  | 295.6 |
General and administrative expense | — |  |  | — |  |  | 220.0 |  |  | — |  |  | 220.0 |
Interest and other (income) expense | — |  |  | — |  |  | (13.5 | ) |  | — |  |  | (13.5 | )
Financial services and other pre-tax income | — |  |  | — |  |  | 89.1 |  |  | — |  |  | 89.1 |
Income before income taxes | 1,358.7 |  |  | 976.8 |  |  | 94.2 |  |  | (1,076.2 | ) |  | 1,353.5 |
Income tax expense | 469.0 |  |  | 334.9 |  |  | 35.5 |  |  | (372.2 | ) |  | 467.2 |
Net income | $ | 889.7 |  |  | $ | 641.9 |  |  | $ | 58.7 |  |  | $ | (704.0 | ) |  | $ | 886.3 |
Comprehensive income | $ | 888.3 |  |  | $ | 641.9 |  |  | $ | 58.7 |  |  | $ | (704.0 | ) |  | $ | 884.9 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Year Ended September 30, 2015
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
Homebuilding: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 3,334.6 |  |  | $ | 7,224.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,559.0 |
Cost of sales | 2,698.1 |  |  | 5,834.3 |  |  | 3.3 |  |  | — |  |  | 8,535.7 |
Gross profit (loss) | 636.5 |  |  | 1,390.1 |  |  | (3.3 | ) |  | — |  |  | 2,023.3 |
Selling, general and administrative expense | 461.2 |  |  | 538.8 |  |  | 3.0 |  |  | — |  |  | 1,003.0 |
Goodwill impairment | — |  |  | 9.8 |  |  | — |  |  | — |  |  | 9.8 |
Equity in (income) of subsidiaries | (945.9 | ) |  | — |  |  | — |  |  | 945.9 |  |  | — |
Other (income) expense | (2.2 | ) |  | (4.9 | ) |  | (0.7 | ) |  | — |  |  | (7.8 | )
Homebuilding pre-tax income (loss) | 1,123.4 |  |  | 846.4 |  |  | (5.6 | ) |  | (945.9 | ) |  | 1,018.3 |
Financial Services and Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | — |  |  | — |  |  | 265.0 |  |  | — |  |  | 265.0 |
General and administrative expense | — |  |  | — |  |  | 183.0 |  |  | — |  |  | 183.0 |
Interest and other (income) expense | — |  |  | — |  |  | (23.1 | ) |  | — |  |  | (23.1 | )
Financial services and other pre-tax income | — |  |  | — |  |  | 105.1 |  |  | — |  |  | 105.1 |
Income before income taxes | 1,123.4 |  |  | 846.4 |  |  | 99.5 |  |  | (945.9 | ) |  | 1,123.4 |
Income tax expense | 372.7 |  |  | 277.2 |  |  | 37.4 |  |  | (314.6 | ) |  | 372.7 |
Net income | $ | 750.7 |  |  | $ | 569.2 |  |  | $ | 62.1 |  |  | $ | (631.3 | ) |  | $ | 750.7 |
Comprehensive income | $ | 750.7 |  |  | $ | 568.4 |  |  | $ | 62.1 |  |  | $ | (631.3 | ) |  | $ | 749.9 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Year Ended September 30, 2014
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
Homebuilding: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 2,547.4 |  |  | $ | 5,299.9 |  |  | $ | 11.2 |  |  | $ | — |  |  | $ | 7,858.5 |
Cost of sales | 2,038.0 |  |  | 4,222.5 |  |  | 8.1 |  |  | — |  |  | 6,268.6 |
Gross profit | 509.4 |  |  | 1,077.4 |  |  | 3.1 |  |  | — |  |  | 1,589.9 |
Selling, general and administrative expense | 388.3 |  |  | 433.0 |  |  | 5.6 |  |  | — |  |  | 826.9 |
Equity in (income) of subsidiaries | (691.8 | ) |  | — |  |  | — |  |  | 691.8 |  |  | — |
Other (income) expense | (1.3 | ) |  | (3.3 | ) |  | (0.9 | ) |  | — |  |  | (5.5 | )
Homebuilding pre-tax income (loss) | 814.2 |  |  | 647.7 |  |  | (1.6 | ) |  | (691.8 | ) |  | 768.5 |
Financial Services and Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | — |  |  | — |  |  | 166.4 |  |  | — |  |  | 166.4 |
General and administrative expense | — |  |  | — |  |  | 138.5 |  |  | — |  |  | 138.5 |
Interest and other (income) expense | — |  |  | — |  |  | (17.8 | ) |  | — |  |  | (17.8 | )
Financial services and other pre-tax income | — |  |  | — |  |  | 45.7 |  |  | — |  |  | 45.7 |
Income before income taxes | 814.2 |  |  | 647.7 |  |  | 44.1 |  |  | (691.8 | ) |  | 814.2 |
Income tax expense | 280.7 |  |  | 222.1 |  |  | 16.6 |  |  | (238.7 | ) |  | 280.7 |
Net income | $ | 533.5 |  |  | $ | 425.6 |  |  | $ | 27.5 |  |  | $ | (453.1 | ) |  | $ | 533.5 |
Comprehensive income | $ | 533.5 |  |  | $ | 425.9 |  |  | $ | 27.5 |  |  | $ | (453.1 | ) |  | $ | 533.8 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Year Ended September 30, 2016
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 115.1 |  |  | $ | 596.7 |  |  | $ | (16.0 | ) |  | $ | (77.8 | ) |  | $ | 618.0 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property and equipment | (40.7 | ) |  | (14.3 | ) |  | (47.1 | ) |  | 16.0 |  |  | (86.1 | )
Decrease in restricted cash | — |  |  | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Net principal decrease of other mortgage loans and real estate owned | — |  |  | — |  |  | 19.7 |  |  | — |  |  | 19.7 |
Proceeds from the sale of debt securities collateralized by residential real estate | 35.8 |  |  | — |  |  | — |  |  | — |  |  | 35.8 |
Intercompany advances | 409.9 |  |  | — |  |  | — |  |  | (409.9 | ) |  | — |
Payments related to acquisition of a business | (82.2 | ) |  | — |  |  | — |  |  | — |  |  | (82.2 | )
Net cash provided by (used in) investing activities | 322.8 |  |  | (14.1 | ) |  | (27.4 | ) |  | (393.9 | ) |  | (112.6 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repayment of notes payable | (542.9 | ) |  | (1.9 | ) |  | (4.9 | ) |  | — |  |  | (549.7 | )
Intercompany advances | — |  |  | (521.3 | ) |  | 111.4 |  |  | 409.9 |  |  | — |
Proceeds from stock associated with certain employee benefit plans | 72.4 |  |  | — |  |  | — |  |  | — |  |  | 72.4 |
Excess income tax benefit from employee stock awards | 10.0 |  |  | — |  |  | — |  |  | — |  |  | 10.0 |
Cash dividends paid | (118.7 | ) |  | — |  |  | (61.8 | ) |  | 61.8 |  |  | (118.7 | )
Net cash (used in) provided by financing activities | (579.2 | ) |  | (523.2 | ) |  | 44.7 |  |  | 471.7 |  |  | (586.0 | )
(Decrease) increase in cash and cash equivalents | (141.3 | ) |  | 59.4 |  |  | 1.3 |  |  | — |  |  | (80.6 | )
Cash and cash equivalents at beginning of year | 1,217.7 |  |  | 94.6 |  |  | 71.5 |  |  | — |  |  | 1,383.8 |
Cash and cash equivalents at end of year | $ | 1,076.4 |  |  | $ | 154.0 |  |  | $ | 72.8 |  |  | $ | — |  |  | $ | 1,303.2 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Year Ended September 30, 2015
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 308.2 |  |  | $ | 530.1 |  |  | $ | (106.3 | ) |  | $ | (31.6 | ) |  | $ | 700.4 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property and equipment | (24.5 | ) |  | (24.8 | ) |  | (6.8 | ) |  | — |  |  | (56.1 | )
Proceeds from the sale of property and equipment to a related party | 56.0 |  |  | — |  |  | — |  |  | — |  |  | 56.0 |
Increase in restricted cash | (0.4 | ) |  | (0.3 | ) |  | — |  |  | — |  |  | (0.7 | )
Net principal increase of other mortgage loans and real estate owned | — |  |  | — |  |  | (8.9 | ) |  | — |  |  | (8.9 | )
Purchases of debt securities collateralized by residential real estate | (14.8 | ) |  | — |  |  | — |  |  | — |  |  | (14.8 | )
Intercompany advances | 444.7 |  |  | — |  |  | — |  |  | (444.7 | ) |  | — |
Payments related to acquisition of a business | (70.9 | ) |  | — |  |  | — |  |  | — |  |  | (70.9 | )
Net cash provided by (used in) investing activities | 390.1 |  |  | (25.1 | ) |  | (15.7 | ) |  | (444.7 | ) |  | (95.4 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from notes payable | 1,472.0 |  |  | — |  |  | 118.7 |  |  | — |  |  | 1,590.7 |
Repayment of notes payable | (1,432.5 | ) |  | (6.3 | ) |  | (17.4 | ) |  | — |  |  | (1,456.2 | )
Intercompany advances | — |  |  | (493.6 | ) |  | 48.9 |  |  | 444.7 |  |  | — |
Proceeds from stock associated with certain employee benefit plans | 61.8 |  |  | — |  |  | — |  |  | — |  |  | 61.8 |
Excess income tax benefit from employee stock awards | 12.3 |  |  | — |  |  | — |  |  | — |  |  | 12.3 |
Cash dividends paid | (91.6 | ) |  | — |  |  | (31.6 | ) |  | 31.6 |  |  | (91.6 | )
Net cash provided by (used in) financing activities | 22.0 |  |  | (499.9 | ) |  | 118.6 |  |  | 476.3 |  |  | 117.0 |
Increase (decrease) in cash and cash equivalents | 720.3 |  |  | 5.1 |  |  | (3.4 | ) |  | — |  |  | 722.0 |
Cash and cash equivalents at beginning of year | 497.4 |  |  | 89.5 |  |  | 74.9 |  |  | — |  |  | 661.8 |
Cash and cash equivalents at end of year | $ | 1,217.7 |  |  | $ | 94.6 |  |  | $ | 71.5 |  |  | $ | — |  |  | $ | 1,383.8 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Year Ended September 30, 2014
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash used in operating activities | $ | (257.4 | ) |  | $ | (293.9 | ) |  | $ | (57.5 | ) |  | $ | (52.6 | ) |  | $ | (661.4 | )
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property and equipment | (63.9 | ) |  | (28.0 | ) |  | (8.3 | ) |  | — |  |  | (100.2 | )
Decrease (increase) in restricted cash | 69.7 |  |  | (0.9 | ) |  | (1.0 | ) |  | — |  |  | 67.8 |
Net principal increase of other mortgage loans and real estate owned | — |  |  | — |  |  | (5.6 | ) |  | — |  |  | (5.6 | )
Intercompany advances | (385.7 | ) |  | — |  |  | — |  |  | 385.7 |  |  | — |
Payments related to acquisition of a business | (244.1 | ) |  | — |  |  | — |  |  | — |  |  | (244.1 | )
Net cash used in investing activities | (624.0 | ) |  | (28.9 | ) |  | (14.9 | ) |  | 385.7 |  |  | (282.1 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from notes payable | 1,307.0 |  |  | — |  |  | 120.6 |  |  | — |  |  | 1,427.6 |
Repayment of notes payable | (796.8 | ) |  | — |  |  | (0.1 | ) |  | — |  |  | (796.9 | )
Intercompany advances | — |  |  | 373.9 |  |  | 11.8 |  |  | (385.7 | ) |  | — |
Proceeds from stock associated with certain employee benefit plans | 45.2 |  |  | — |  |  | — |  |  | — |  |  | 45.2 |
Excess income tax benefit from employee stock awards | 0.6 |  |  | — |  |  | — |  |  | — |  |  | 0.6 |
Cash dividends paid | (48.6 | ) |  | — |  |  | (52.6 | ) |  | 52.6 |  |  | (48.6 | )
Net cash provided by financing activities | 507.4 |  |  | 373.9 |  |  | 79.7 |  |  | (333.1 | ) |  | 627.9 |
(Decrease) increase in cash and cash equivalents | (374.0 | ) |  | 51.1 |  |  | 7.3 |  |  | — |  |  | (315.6 | )
Cash and cash equivalents at beginning of year | 871.4 |  |  | 38.4 |  |  | 67.6 |  |  | — |  |  | 977.4 |
Cash and cash equivalents at end of year | $ | 497.4 |  |  | $ | 89.5 |  |  | $ | 74.9 |  |  | $ | — |  |  | $ | 661.8 |

X
- Definition Supplemental Guarantor Information. + References No definition available. + Details
Name: | dhi_SupplementalGuarantorInformationAbstract
Namespace Prefix: | dhi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedFinancialStatementsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration