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Supplemental Guarantor Information (Tables) | 12 Months Ended
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Sep. 30, 2017
Supplemental Guarantor Information [Abstract] |
Condensed Consolidating Statements | Consolidating Balance Sheet September 30, 2017
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 780.9 |  |  | $ | 154.5 |  |  | $ | 72.4 |  |  | $ | — |  |  | $ | 1,007.8 |
Restricted cash | 7.8 |  |  | 1.5 |  |  | — |  |  | — |  |  | 9.3 |
Investments in subsidiaries | 4,812.6 |  |  | — |  |  | — |  |  | (4,812.6 | ) |  | — |
Inventories | 3,540.4 |  |  | 5,579.9 |  |  | 116.8 |  |  | — |  |  | 9,237.1 |
Deferred income taxes | 138.5 |  |  | 223.6 |  |  | 2.9 |  |  | — |  |  | 365.0 |
Property and equipment, net | 104.8 |  |  | 59.7 |  |  | 166.3 |  |  | (5.8 | ) |  | 325.0 |
Other assets | 245.5 |  |  | 259.7 |  |  | 67.9 |  |  | — |  |  | 573.1 |
Mortgage loans held for sale | — |  |  | — |  |  | 587.3 |  |  | — |  |  | 587.3 |
Goodwill | — |  |  | 80.0 |  |  | — |  |  | — |  |  | 80.0 |
Intercompany receivables | 1,047.7 |  |  | — |  |  | — |  |  | (1,047.7 | ) |  | — |
Total Assets | $ | 10,678.2 |  |  | $ | 6,358.9 |  |  | $ | 1,013.6 |  |  | $ | (5,866.1 | ) |  | $ | 12,184.6 |
LIABILITIES & EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and other liabilities | $ | 483.9 |  |  | $ | 956.9 |  |  | $ | 126.6 |  |  | $ | (2.0 | ) |  | $ | 1,565.4 |
Intercompany payables | — |  |  | 732.2 |  |  | 315.5 |  |  | (1,047.7 | ) |  | — |
Notes payable | 2,443.4 |  |  | 8.2 |  |  | 420.0 |  |  | — |  |  | 2,871.6 |
Total Liabilities | 2,927.3 |  |  | 1,697.3 |  |  | 862.1 |  |  | (1,049.7 | ) |  | 4,437.0 |
Stockholders’ equity | 7,750.9 |  |  | 4,661.6 |  |  | 151.0 |  |  | (4,816.4 | ) |  | 7,747.1 |
Noncontrolling interests | — |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.5 |
Total Equity | 7,750.9 |  |  | 4,661.6 |  |  | 151.5 |  |  | (4,816.4 | ) |  | 7,747.6 |
Total Liabilities & Equity | $ | 10,678.2 |  |  | $ | 6,358.9 |  |  | $ | 1,013.6 |  |  | $ | (5,866.1 | ) |  | $ | 12,184.6 |
NOTE Q – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) 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 Q – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Year Ended September 30, 2017
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
Homebuilding: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 4,773.6 |  |  | $ | 8,939.5 |  |  | $ | 37.5 |  |  | $ | (9.1 | ) |  | $ | 13,741.5 |
Cost of sales | 3,827.6 |  |  | 7,199.6 |  |  | 24.1 |  |  | (8.5 | ) |  | 11,042.8 |
Gross profit | 946.0 |  |  | 1,739.9 |  |  | 13.4 |  |  | (0.6 | ) |  | 2,698.7 |
Selling, general and administrative expense | 584.3 |  |  | 631.0 |  |  | 5.1 |  |  | — |  |  | 1,220.4 |
Equity in (income) of subsidiaries | (1,232.7 | ) |  | — |  |  | — |  |  | 1,232.7 |  |  | — |
Other (income) expense | (8.3 | ) |  | (1.4 | ) |  | (1.3 | ) |  | — |  |  | (11.0 | )
Homebuilding pre-tax income | 1,602.7 |  |  | 1,110.3 |  |  | 9.6 |  |  | (1,233.3 | ) |  | 1,489.3 |
Financial Services and Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | — |  |  | — |  |  | 349.5 |  |  | — |  |  | 349.5 |
General and administrative expense | — |  |  | — |  |  | 251.2 |  |  | — |  |  | 251.2 |
Interest and other (income) expense | — |  |  | — |  |  | (14.5 | ) |  | — |  |  | (14.5 | )
Financial services and other pre-tax income | — |  |  | — |  |  | 112.8 |  |  | — |  |  | 112.8 |
Income before income taxes | 1,602.7 |  |  | 1,110.3 |  |  | 122.4 |  |  | (1,233.3 | ) |  | 1,602.1 |
Income tax expense | 563.9 |  |  | 388.6 |  |  | 45.9 |  |  | (434.7 | ) |  | 563.7 |
Net income | $ | 1,038.8 |  |  | $ | 721.7 |  |  | $ | 76.5 |  |  | $ | (798.6 | ) |  | $ | 1,038.4 |
Comprehensive income | $ | 1,038.8 |  |  | $ | 721.7 |  |  | $ | 76.5 |  |  | $ | (798.6 | ) |  | $ | 1,038.4 |
NOTE Q – 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 Q – 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 Q – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Year Ended September 30, 2017
| D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
| (In millions)
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities | $ | (288.3 | ) |  | $ | 721.0 |  |  | $ | 115.0 |  |  | $ | (112.6 | ) |  | $ | 435.1 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expenditures for property and equipment | (54.2 | ) |  | (26.2 | ) |  | (86.0 | ) |  | 9.1 |  |  | (157.3 | )
(Increase) decrease in restricted cash | (0.4 | ) |  | 0.6 |  |  | (7.2 | ) |  | — |  |  | (7.0 | )
Net principal decrease of other mortgage loans and real estate owned | — |  |  | — |  |  | 6.2 |  |  | — |  |  | 6.2 |
Purchases of debt securities collateralized by residential real estate | (8.8 | ) |  | — |  |  | — |  |  | — |  |  | (8.8 | )
Intercompany advances | 561.7 |  |  | — |  |  | — |  |  | (561.7 | ) |  | — |
Payments related to acquisition of a business | (4.1 | ) |  | — |  |  | — |  |  | — |  |  | (4.1 | )
Net cash provided by (used in) investing activities | 494.2 |  |  | (25.6 | ) |  | (87.0 | ) |  | (552.6 | ) |  | (171.0 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from notes payable | 835.0 |  |  | — |  |  | — |  |  | — |  |  | 835.0 |
Repayment of notes payable | (1,187.2 | ) |  | (5.1 | ) |  | (53.0 | ) |  | — |  |  | (1,245.3 | )
Intercompany advances | — |  |  | (689.8 | ) |  | 128.1 |  |  | 561.7 |  |  | — |
Proceeds from stock associated with certain employee benefit plans | 46.7 |  |  | — |  |  | — |  |  | — |  |  | 46.7 |
Excess income tax benefit from employee stock awards | 14.3 |  |  | — |  |  | — |  |  | — |  |  | 14.3 |
Cash dividends paid | (149.6 | ) |  | — |  |  | (103.5 | ) |  | 103.5 |  |  | (149.6 | )
Repurchases of common stock | (60.6 | ) |  | — |  |  | — |  |  | — |  |  | (60.6 | )
Net cash used in financing activities | (501.4 | ) |  | (694.9 | ) |  | (28.4 | ) |  | 665.2 |  |  | (559.5 | )
(Decrease) increase in cash and cash equivalents | (295.5 | ) |  | 0.5 |  |  | (0.4 | ) |  | — |  |  | (295.4 | )
Cash and cash equivalents at beginning of year | 1,076.4 |  |  | 154.0 |  |  | 72.8 |  |  | — |  |  | 1,303.2 |
Cash and cash equivalents at end of year | $ | 780.9 |  |  | $ | 154.5 |  |  | $ | 72.4 |  |  | $ | — |  |  | $ | 1,007.8 |
NOTE Q – 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 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expenditures for 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 Q – 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 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expenditures for 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 |

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