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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Dec. 31, 2015
Supplemental Guarantor Information [Abstract] |
Condensed Financial Statements | Consolidating Balance Sheet December 31, 2015
|  | D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
|  | (In millions)
ASSETS |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,166.1 |  |  | $ | 34.2 |  |  | $ | 68.4 |  |  | $ | — |  |  | $ | 1,268.7 |
Restricted cash |  | 7.2 |  |  | 2.5 |  |  | — |  |  | — |  |  | 9.7 |
Investments in subsidiaries |  | 3,569.1 |  |  | — |  |  | — |  |  | (3,569.1 | ) |  | — |
Inventories |  | 2,679.2 |  |  | 5,383.7 |  |  | 25.3 |  |  | — |  |  | 8,088.2 |
Deferred income taxes |  | 174.4 |  |  | 362.6 |  |  | 5.2 |  |  | — |  |  | 542.2 |
Property and equipment, net |  | 58.4 |  |  | 52.5 |  |  | 36.7 |  |  | — |  |  | 147.6 |
Other assets |  | 174.8 |  |  | 244.3 |  |  | 94.9 |  |  | (2.5 | ) |  | 511.5 |
Mortgage loans held for sale |  | — |  |  | — |  |  | 524.4 |  |  | — |  |  | 524.4 |
Goodwill |  | — |  |  | 87.2 |  |  | — |  |  | — |  |  | 87.2 |
Intercompany receivables |  | 1,996.9 |  |  | 5.4 |  |  | — |  |  | (2,002.3 | ) |  | — |
Total Assets |  | $ | 9,826.1 |  |  | $ | 6,172.4 |  |  | $ | 754.9 |  |  | $ | (5,573.9 | ) |  | $ | 11,179.5 |
LIABILITIES & EQUITY |  |  |  |  |  |  |  |  |  |
Accounts payable and other liabilities |  | $ | 438.8 |  |  | $ | 828.1 |  |  | $ | 117.8 |  |  | $ | — |  |  | $ | 1,384.7 |
Intercompany payables |  | — |  |  | 1,913.4 |  |  | 91.4 |  |  | (2,004.8 | ) |  | — |
Notes payable |  | 3,327.9 |  |  | 9.3 |  |  | 397.1 |  |  | — |  |  | 3,734.3 |
Total Liabilities |  | 3,766.7 |  |  | 2,750.8 |  |  | 606.3 |  |  | (2,004.8 | ) |  | 5,119.0 |
Stockholders’ equity |  | 6,059.4 |  |  | 3,421.6 |  |  | 147.5 |  |  | (3,569.1 | ) |  | 6,059.4 |
Noncontrolling interests |  | — |  |  | — |  |  | 1.1 |  |  | — |  |  | 1.1 |
Total Equity |  | 6,059.4 |  |  | 3,421.6 |  |  | 148.6 |  |  | (3,569.1 | ) |  | 6,060.5 |
Total Liabilities & Equity |  | $ | 9,826.1 |  |  | $ | 6,172.4 |  |  | $ | 754.9 |  |  | $ | (5,573.9 | ) |  | $ | 11,179.5 |
NOTE N – 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 |  |  | 36.7 |  |  | — |  |  | 144.0 |
Other assets |  | 199.5 |  |  | 240.4 |  |  | 90.3 |  |  | — |  |  | 530.2 |
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 N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Three Months Ended December 31, 2015
|  | D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
|  | (In millions)
Homebuilding: |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 795.6 |  |  | $ | 1,570.9 |  |  | $ | — |  |  | $ | (5.4 | ) |  | $ | 2,361.1 |
Cost of sales |  | 638.9 |  |  | 1,253.8 |  |  | 2.4 |  |  | (2.9 | ) |  | 1,892.2 |
Gross profit (loss) |  | 156.7 |  |  | 317.1 |  |  | (2.4 | ) |  | (2.5 | ) |  | 468.9 |
Selling, general and administrative expense |  | 111.9 |  |  | 129.2 |  |  | 2.2 |  |  | — |  |  | 243.3 |
Equity in (income) of subsidiaries |  | (195.7 | ) |  | — |  |  | — |  |  | 195.7 |  |  | — |
Other (income) |  | (0.8 | ) |  | (0.7 | ) |  | (1.9 | ) |  | — |  |  | (3.4 | )
Homebuilding pre-tax income (loss) |  | 241.3 |  |  | 188.6 |  |  | (2.7 | ) |  | (198.2 | ) |  | 229.0 |
Financial Services: |  |  |  |  |  |  |  |  |  |
Revenues |  | — |  |  | — |  |  | 55.3 |  |  | — |  |  | 55.3 |
General and administrative expense |  | — |  |  | — |  |  | 46.1 |  |  | — |  |  | 46.1 |
Interest and other (income) |  | — |  |  | — |  |  | (3.1 | ) |  | — |  |  | (3.1 | )
Financial services pre-tax income |  | — |  |  | — |  |  | 12.3 |  |  | — |  |  | 12.3 |
Income before income taxes |  | 241.3 |  |  | 188.6 |  |  | 9.6 |  |  | (198.2 | ) |  | 241.3 |
Income tax expense |  | 83.6 |  |  | 65.1 |  |  | 3.7 |  |  | (68.8 | ) |  | 83.6 |
Net income |  | $ | 157.7 |  |  | $ | 123.5 |  |  | $ | 5.9 |  |  | $ | (129.4 | ) |  | $ | 157.7 |
Comprehensive income |  | $ | 158.9 |  |  | $ | 123.5 |  |  | $ | 5.9 |  |  | $ | (129.4 | ) |  | $ | 158.9 |
NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Three Months Ended December 31, 2014
|  | D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
|  | (In millions)
Homebuilding: |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 696.8 |  |  | $ | 1,556.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,253.0 |
Cost of sales |  | 554.0 |  |  | 1,257.0 |  |  | 3.4 |  |  | — |  |  | 1,814.4 |
Gross profit (loss) |  | 142.8 |  |  | 299.2 |  |  | (3.4 | ) |  | — |  |  | 438.6 |
Selling, general and administrative expense |  | 110.2 |  |  | 121.2 |  |  | 6.6 |  |  | — |  |  | 238.0 |
Equity in (income) of subsidiaries |  | (187.8 | ) |  | — |  |  | — |  |  | 187.8 |  |  | — |
Other (income) |  | (0.3 | ) |  | (1.3 | ) |  | (3.9 | ) |  | — |  |  | (5.5 | )
Homebuilding pre-tax income (loss) |  | 220.7 |  |  | 179.3 |  |  | (6.1 | ) |  | (187.8 | ) |  | 206.1 |
Financial Services: |  |  |  |  |  |  |  |  |  |
Revenues |  | — |  |  | — |  |  | 49.6 |  |  | — |  |  | 49.6 |
General and administrative expense |  | — |  |  | — |  |  | 37.8 |  |  | — |  |  | 37.8 |
Interest and other (income) |  | — |  |  | — |  |  | (2.8 | ) |  | — |  |  | (2.8 | )
Financial services pre-tax income |  | — |  |  | — |  |  | 14.6 |  |  | — |  |  | 14.6 |
Income before income taxes |  | 220.7 |  |  | 179.3 |  |  | 8.5 |  |  | (187.8 | ) |  | 220.7 |
Income tax expense |  | 78.2 |  |  | 63.2 |  |  | 3.4 |  |  | (66.6 | ) |  | 78.2 |
Net income |  | $ | 142.5 |  |  | $ | 116.1 |  |  | $ | 5.1 |  |  | $ | (121.2 | ) |  | $ | 142.5 |
Comprehensive income |  | $ | 142.5 |  |  | $ | 116.1 |  |  | $ | 5.1 |  |  | $ | (121.2 | ) |  | $ | 142.5 |
NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Three Months Ended December 31, 2015
|  | D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
|  | (In millions)
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities |  | $ | 35.7 |  |  | $ | (111.3 | ) |  | $ | 114.1 |  |  | $ | (40.0 | ) |  | $ | (1.5 | )
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Purchases of property and equipment |  | (10.6 | ) |  | (4.7 | ) |  | (4.8 | ) |  | — |  |  | (20.1 | )
Decrease (increase) in restricted cash |  | 0.1 |  |  | (0.1 | ) |  | — |  |  | — |  |  | — |
Net principal increase of other mortgage loans and real estate owned |  | — |  |  | — |  |  | (2.1 | ) |  | — |  |  | (2.1 | )
Intercompany advances |  | (66.4 | ) |  | — |  |  | — |  |  | 66.4 |  |  | — |
Net cash used in investing activities |  | (76.9 | ) |  | (4.8 | ) |  | (6.9 | ) |  | 66.4 |  |  | (22.2 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Repayment of notes payable |  | — |  |  | (0.2 | ) |  | (80.8 | ) |  | — |  |  | (81.0 | )
Intercompany advances |  | — |  |  | 55.9 |  |  | 10.5 |  |  | (66.4 | ) |  | — |
Proceeds from stock associated with certain employee benefit plans |  | 17.0 |  |  | — |  |  | — |  |  | — |  |  | 17.0 |
Excess income tax benefit from employee stock awards |  | 2.2 |  |  | — |  |  | — |  |  | — |  |  | 2.2 |
Cash dividends paid |  | (29.6 | ) |  | — |  |  | (40.0 | ) |  | 40.0 |  |  | (29.6 | )
Net cash (used in) provided by financing activities |  | (10.4 | ) |  | 55.7 |  |  | (110.3 | ) |  | (26.4 | ) |  | (91.4 | )
Decrease in cash and cash equivalents |  | (51.6 | ) |  | (60.4 | ) |  | (3.1 | ) |  | — |  |  | (115.1 | )
Cash and cash equivalents at beginning of period |  | 1,217.7 |  |  | 94.6 |  |  | 71.5 |  |  | — |  |  | 1,383.8 |
Cash and cash equivalents at end of period |  | $ | 1,166.1 |  |  | $ | 34.2 |  |  | $ | 68.4 |  |  | $ | — |  |  | $ | 1,268.7 |
NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Three Months Ended December 31, 2014
|  | D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
|  | (In millions)
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities |  | $ | (28.9 | ) |  | $ | (107.7 | ) |  | $ | 22.6 |  |  | $ | (15.0 | ) |  | $ | (129.0 | )
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Purchases of property and equipment |  | (7.5 | ) |  | (3.8 | ) |  | — |  |  | — |  |  | (11.3 | )
Decrease in restricted cash |  | 0.4 |  |  | — |  |  | — |  |  | — |  |  | 0.4 |
Net principal increase of other mortgage loans and real estate owned |  | — |  |  | — |  |  | (3.0 | ) |  | — |  |  | (3.0 | )
Intercompany advances |  | (94.9 | ) |  | — |  |  | — |  |  | 94.9 |  |  | — |
Net cash used in investing activities |  | (102.0 | ) |  | (3.8 | ) |  | (3.0 | ) |  | 94.9 |  |  | (13.9 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Proceeds from notes payable |  | 490.0 |  |  | — |  |  | — |  |  | — |  |  | 490.0 |
Repayment of notes payable |  | (415.0 | ) |  | (0.3 | ) |  | (35.6 | ) |  | — |  |  | (450.9 | )
Intercompany advances |  | — |  |  | 64.8 |  |  | 30.1 |  |  | (94.9 | ) |  | — |
Proceeds from stock associated with certain employee benefit plans |  | 4.6 |  |  | — |  |  | — |  |  | — |  |  | 4.6 |
Excess income tax benefit from employee stock awards |  | 1.2 |  |  | — |  |  | — |  |  | — |  |  | 1.2 |
Cash dividends paid |  | (22.8 | ) |  | — |  |  | (15.0 | ) |  | 15.0 |  |  | (22.8 | )
Net cash provided by (used in) financing activities |  | 58.0 |  |  | 64.5 |  |  | (20.5 | ) |  | (79.9 | ) |  | 22.1 |
Decrease in cash and cash equivalents |  | (72.9 | ) |  | (47.0 | ) |  | (0.9 | ) |  | — |  |  | (120.8 | )
Cash and cash equivalents at beginning of period |  | 497.4 |  |  | 89.5 |  |  | 74.9 |  |  | — |  |  | 661.8 |
Cash and cash equivalents at end of period |  | $ | 424.5 |  |  | $ | 42.5 |  |  | $ | 74.0 |  |  | $ | — |  |  | $ | 541.0 |

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