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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Dec. 31, 2017
Supplemental Guarantor Information [Abstract] |
Condensed Financial Statements | Consolidating Balance Sheet December 31, 2017
|  | D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
|  | (In millions)
ASSETS |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 438.3 |  |  | $ | 79.4 |  |  | $ | 402.6 |  |  | $ | — |  |  | $ | 920.3 |
Restricted cash |  | 6.2 |  |  | 2.1 |  |  | 45.4 |  |  | — |  |  | 53.7 |
Investments in subsidiaries |  | 5,485.7 |  |  | — |  |  | — |  |  | (5,485.7 | ) |  | — |
Inventories |  | 3,762.6 |  |  | 5,899.7 |  |  | 377.9 |  |  | — |  |  | 10,040.2 |
Investment in unconsolidated entities |  | — |  |  | — |  |  | 86.1 |  |  | — |  |  | 86.1 |
Mortgage loans held for sale |  | — |  |  | — |  |  | 538.2 |  |  | — |  |  | 538.2 |
Deferred income taxes |  | 87.9 |  |  | 146.1 |  |  | 5.1 |  |  | — |  |  | 239.1 |
Property and equipment, net |  | 112.1 |  |  | 61.8 |  |  | 189.6 |  |  | (5.8 | ) |  | 357.7 |
Other assets |  | 251.4 |  |  | 292.4 |  |  | 78.2 |  |  | — |  |  | 622.0 |
Goodwill |  | — |  |  | 80.0 |  |  | 20.0 |  |  | — |  |  | 100.0 |
Intercompany receivables |  | 1,041.5 |  |  | — |  |  | — |  |  | (1,041.5 | ) |  | — |
Total Assets |  | $ | 11,185.7 |  |  | $ | 6,561.5 |  |  | $ | 1,743.1 |  |  | $ | (6,533.0 | ) |  | $ | 12,957.3 |
LIABILITIES & EQUITY |  |  |  |  |  |  |  |  |  |
Accounts payable and other liabilities |  | $ | 558.4 |  |  | $ | 937.8 |  |  | $ | 149.6 |  |  | $ | (2.0 | ) |  | $ | 1,643.8 |
Intercompany payables |  | — |  |  | 831.7 |  |  | 209.8 |  |  | (1,041.5 | ) |  | — |
Notes payable |  | 2,741.5 |  |  | 8.1 |  |  | 508.5 |  |  | — |  |  | 3,258.1 |
Total Liabilities |  | 3,299.9 |  |  | 1,777.6 |  |  | 867.9 |  |  | (1,043.5 | ) |  | 4,901.9 |
Stockholders’ equity |  | 7,885.8 |  |  | 4,783.9 |  |  | 701.8 |  |  | (5,489.5 | ) |  | 7,882.0 |
Noncontrolling interests |  | — |  |  | — |  |  | 173.4 |  |  | — |  |  | 173.4 |
Total Equity |  | 7,885.8 |  |  | 4,783.9 |  |  | 875.2 |  |  | (5,489.5 | ) |  | 8,055.4 |
Total Liabilities & Equity |  | $ | 11,185.7 |  |  | $ | 6,561.5 |  |  | $ | 1,743.1 |  |  | $ | (6,533.0 | ) |  | $ | 12,957.3 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) 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 |  |  | 7.2 |  |  | — |  |  | 16.5 |
Investments in subsidiaries |  | 4,812.6 |  |  | — |  |  | — |  |  | (4,812.6 | ) |  | — |
Inventories |  | 3,540.4 |  |  | 5,579.9 |  |  | 116.8 |  |  | — |  |  | 9,237.1 |
Mortgage loans held for sale |  | — |  |  | — |  |  | 587.3 |  |  | — |  |  | 587.3 |
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 |  |  | 60.7 |  |  | — |  |  | 565.9 |
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 P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Three Months Ended December 31, 2017
|  | D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
|  | (In millions)
Revenues |  | $ | 1,163.8 |  |  | $ | 2,052.4 |  |  | $ | 116.5 |  |  | $ | — |  |  | $ | 3,332.7 |
Cost of sales |  | 915.4 |  |  | 1,640.0 |  |  | 24.7 |  |  | — |  |  | 2,580.1 |
Selling, general and administrative expense |  | 152.2 |  |  | 151.5 |  |  | 80.5 |  |  | — |  |  | 384.2 |
Equity in earnings of unconsolidated entities |  | — |  |  | — |  |  | (2.3 | ) |  | — |  |  | (2.3 | )
Other (income) expense |  | (0.4 | ) |  | — |  |  | (20.1 | ) |  | — |  |  | (20.5 | )
Income before income taxes |  | 96.6 |  |  | 260.9 |  |  | 33.7 |  |  | — |  |  | 391.2 |
Income tax expense |  | 51.1 |  |  | 137.9 |  |  | 13.4 |  |  | — |  |  | 202.4 |
Equity in net income of subsidiaries, net of tax |  | 143.3 |  |  | — |  |  | — |  |  | (143.3 | ) |  | — |
Net income |  | 188.8 |  |  | 123.0 |  |  | 20.3 |  |  | (143.3 | ) |  | 188.8 |
Net loss attributable to noncontrolling interests |  | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Net income attributable to D.R. Horton, Inc. |  | $ | 188.8 |  |  | $ | 123.0 |  |  | $ | 20.8 |  |  | $ | (143.3 | ) |  | $ | 189.3 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Three Months Ended December 31, 2016
|  | D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
|  | (In millions)
Revenues |  | $ | 918.1 |  |  | $ | 1,896.1 |  |  | $ | 90.0 |  |  | $ | — |  |  | $ | 2,904.2 |
Cost of sales |  | 735.4 |  |  | 1,524.7 |  |  | 7.8 |  |  | — |  |  | 2,267.9 |
Selling, general and administrative expense |  | 124.0 |  |  | 143.3 |  |  | 58.6 |  |  | — |  |  | 325.9 |
Other (income) expense |  | (4.1 | ) |  | — |  |  | (3.6 | ) |  | — |  |  | (7.7 | )
Income before income taxes |  | 62.8 |  |  | 228.1 |  |  | 27.2 |  |  | — |  |  | 318.1 |
Income tax expense |  | 21.8 |  |  | 79.2 |  |  | 10.2 |  |  | — |  |  | 111.2 |
Equity in net income of subsidiaries, net of tax |  | 165.9 |  |  | — |  |  | — |  |  | (165.9 | ) |  | — |
Net income |  | $ | 206.9 |  |  | $ | 148.9 |  |  | $ | 17.0 |  |  | $ | (165.9 | ) |  | $ | 206.9 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Three Months Ended December 31, 2017
|  | D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
|  | (In millions)
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities |  | $ | (3.0 | ) |  | $ | (61.6 | ) |  | $ | 21.6 |  |  | $ | (32.0 | ) |  | $ | (75.0 | )
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Expenditures for property and equipment |  | (15.1 | ) |  | (7.8 | ) |  | (21.5 | ) |  | — |  |  | (44.4 | )
Proceeds from sale of rental properties |  | — |  |  | — |  |  | 24.8 |  |  | — |  |  | 24.8 |
Decrease (increase) in restricted cash |  | 1.6 |  |  | (0.6 | ) |  | (38.2 | ) |  | — |  |  | (37.2 | )
Investment in unconsolidated entities |  | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Return of investment in unconsolidated entities |  | — |  |  | — |  |  | 15.0 |  |  | — |  |  | 15.0 |
Net principal decrease of other mortgage loans and real estate owned |  | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Intercompany advances |  | 2.7 |  |  | — |  |  | — |  |  | (2.7 | ) |  | — |
Payments related to acquisition of a business, net of cash acquired |  | (558.3 | ) |  | — |  |  | 401.9 |  |  | — |  |  | (156.4 | )
Net cash (used in) provided by investing activities |  | (569.1 | ) |  | (8.4 | ) |  | 382.0 |  |  | (2.7 | ) |  | (198.2 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Proceeds from notes payable |  | 1,112.8 |  |  | — |  |  | 1.1 |  |  | — |  |  | 1,113.9 |
Repayment of notes payable |  | (815.2 | ) |  | (0.6 | ) |  | (10.0 | ) |  | — |  |  | (825.8 | )
Payments on mortgage repurchase facility, net |  | — |  |  | — |  |  | (32.6 | ) |  | — |  |  | (32.6 | )
Intercompany advances |  | — |  |  | (4.5 | ) |  | 1.8 |  |  | 2.7 |  |  | — |
Proceeds from stock associated with certain employee benefit plans |  | 14.6 |  |  | — |  |  | — |  |  | — |  |  | 14.6 |
Cash paid for shares withheld for taxes |  | (10.3 | ) |  | — |  |  | — |  |  | — |  |  | (10.3 | )
Cash dividends paid |  | (47.0 | ) |  | — |  |  | (32.0 | ) |  | 32.0 |  |  | (47.0 | )
Repurchases of common stock |  | (25.4 | ) |  | — |  |  | — |  |  | — |  |  | (25.4 | )
Distributions to noncontrolling interests, net |  | — |  |  | — |  |  | (1.7 | ) |  | — |  |  | (1.7 | )
Net cash provided by (used in) financing activities |  | 229.5 |  |  | (5.1 | ) |  | (73.4 | ) |  | 34.7 |  |  | 185.7 |
(Decrease) increase in cash and cash equivalents |  | (342.6 | ) |  | (75.1 | ) |  | 330.2 |  |  | — |  |  | (87.5 | )
Cash and cash equivalents at beginning of period |  | 780.9 |  |  | 154.5 |  |  | 72.4 |  |  | — |  |  | 1,007.8 |
Cash and cash equivalents at end of period |  | $ | 438.3 |  |  | $ | 79.4 |  |  | $ | 402.6 |  |  | $ | — |  |  | $ | 920.3 |
NOTE P – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Three Months Ended December 31, 2016
|  | D.R. Horton, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
|  | (In millions)
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities |  | $ | (102.0 | ) |  | $ | 40.5 |  |  | $ | 83.3 |  |  | $ | (50.0 | ) |  | $ | (28.2 | )
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Expenditures for property and equipment |  | (10.5 | ) |  | (5.4 | ) |  | (6.3 | ) |  | — |  |  | (22.2 | )
Decrease (increase) in restricted cash |  | 0.4 |  |  | 0.3 |  |  | (6.7 | ) |  | — |  |  | (6.0 | )
Net principal decrease of other mortgage loans and real estate owned |  | — |  |  | — |  |  | 1.0 |  |  | — |  |  | 1.0 |
Intercompany advances |  | 91.1 |  |  | — |  |  | — |  |  | (91.1 | ) |  | — |
Payments related to acquisition of a business |  | (4.1 | ) |  | — |  |  | — |  |  | — |  |  | (4.1 | )
Net cash provided by (used in) investing activities |  | 76.9 |  |  | (5.1 | ) |  | (12.0 | ) |  | (91.1 | ) |  | (31.3 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Repayment of notes payable |  | — |  |  | (0.3 | ) |  | — |  |  | — |  |  | (0.3 | )
Payments on mortgage repurchase facility, net |  | — |  |  | — |  |  | (54.0 | ) |  | — |  |  | (54.0 | )
Intercompany advances |  | — |  |  | (127.9 | ) |  | 36.8 |  |  | 91.1 |  |  | — |
Proceeds from stock associated with certain employee benefit plans |  | 2.8 |  |  | — |  |  | — |  |  | — |  |  | 2.8 |
Excess income tax benefit from employee stock awards |  | 0.5 |  |  | — |  |  | — |  |  | — |  |  | 0.5 |
Cash paid for shares withheld for taxes |  | (5.1 | ) |  | — |  |  | — |  |  | — |  |  | (5.1 | )
Cash dividends paid |  | (37.3 | ) |  | — |  |  | (50.0 | ) |  | 50.0 |  |  | (37.3 | )
Net cash used in financing activities |  | (39.1 | ) |  | (128.2 | ) |  | (67.2 | ) |  | 141.1 |  |  | (93.4 | )
(Decrease) increase in cash and cash equivalents |  | (64.2 | ) |  | (92.8 | ) |  | 4.1 |  |  | — |  |  | (152.9 | )
Cash and cash equivalents at beginning of period |  | 1,076.4 |  |  | 154.0 |  |  | 72.8 |  |  | — |  |  | 1,303.2 |
Cash and cash equivalents at end of period |  | $ | 1,012.2 |  |  | $ | 61.2 |  |  | $ | 76.9 |  |  | $ | — |  |  | $ | 1,150.3 |

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