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Supplemental Guarantor Information | 6 Months Ended
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Jun. 30, 2013
Supplemental Guarantor Information [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Supplemental Guarantor Information The Company's obligations under the 2018 Senior Notes, the 2017 Convertible Senior Subordinated Notes and the 2018 Convertible Senior Subordinated Notes are not guaranteed by all of the Company's subsidiaries and therefore, the Company has disclosed condensed consolidating financial information in accordance with SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered. The subsidiary guarantors of the 2018 Senior Notes, the 2017 Convertible Senior Subordinated Notes and the 2018 Convertible Senior Subordinated Notes are the same. The following condensed consolidating financial information includes balance sheets, statements of operations and cash flow information for the parent company, the Guarantor Subsidiaries, collectively, and for all other subsidiaries and joint ventures of the Company (the “Unrestricted Subsidiaries”), collectively. Each Guarantor Subsidiary is a direct or indirect 100%-owned subsidiary of M/I Homes, Inc. and has fully and unconditionally guaranteed the (a) 2018 Senior Notes, on a joint and several senior unsecured basis, (b) the 2017 Convertible Senior Subordinated Notes on a joint and several senior subordinated unsecured basis and (c) the 2018 Convertible Senior Subordinated Notes on a joint and several senior subordinated unsecured basis. There are no significant restrictions on the parent company's ability to obtain funds from its Guarantor Subsidiaries in the form of a dividend, loan, or other means. As of June 30, 2013, each of the Company's subsidiaries is a Guarantor Subsidiary, with the exception of subsidiaries that are primarily engaged in the business of mortgage financing, title insurance or similar financial businesses relating to the homebuilding and home sales business, certain subsidiaries that are not 100%-owned by the Company or another subsidiary, and other subsidiaries designated by the Company as Unrestricted Subsidiaries, subject to limitations on the aggregate amount invested in such Unrestricted Subsidiaries in accordance with the terms of the Prior Credit Facility and the Indenture for the 2018 Senior Notes. In the condensed financial tables presented below, the parent company presents all of its 100%-owned subsidiaries as if they were accounted for under the equity method. All applicable corporate expenses have been allocated appropriately among the Guarantor Subsidiaries and Unrestricted Subsidiaries.
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
|  | Three Months Ended June 30, 2013
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 227,301 |  | $ | 7,252 |  | $ | — |  | $ | 234,553 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 187,136 |  | — |  | — |  | 187,136 |
Impairment of inventory and investment in Unconsolidated LLCs |  | — |  | 1,201 |  |  | — |  | 1,201 |
General and administrative |  | — |  | 14,953 |  | 3,196 |  | — |  | 18,149 |
Selling |  | — |  | 16,246 |  | 29 |  | — |  | 16,275 |
Interest |  | — |  | 4,062 |  | 335 |  | — |  | 4,397 |
Total costs and expenses |  | — |  | 223,598 |  | 3,560 |  | — |  | 227,158 |
Income before income taxes |  | — |  | 3,703 |  | 3,692 |  | — |  | 7,395 |
(Benefit) provision for income taxes |  | — |  | (1,199 | ) | 1,330 |  | — |  | 131 |
Equity in subsidiaries |  | 7,264 |  | — |  | — |  | (7,264 | ) | — |
Net income |  | 7,264 |  | 4,902 |  | 2,362 |  | (7,264 | ) | 7,264 |
Preferred dividends |  | 1,219 |  | — |  | — |  | — |  | 1,219 |
Net income to common shareholders |  | $ | 6,045 |  | $ | 4,902 |  | $ | 2,362 |  | $ | (7,264 | ) | $ | 6,045 |
|  | Three Months Ended June 30, 2012
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 166,070 |  | $ | 4,924 |  | $ | — |  | $ | 170,994 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 137,111 |  | — |  | — |  | 137,111 |
Impairment of inventory and investment in Unconsolidated LLCs |  | — |  | 472 |  | — |  | — |  | 472 |
General and administrative |  | — |  | 11,033 |  | 2,793 |  | — |  | 13,826 |
Selling |  | — |  | 12,825 |  | — |  | — |  | 12,825 |
Interest |  | — |  | 3,150 |  | 311 |  | — |  | 3,461 |
Total costs and expenses |  | — |  | 164,591 |  | 3,104 |  | — |  | 167,695 |
Income before income taxes |  | — |  | 1,479 |  | 1,820 |  | — |  | 3,299 |
(Benefit) provision for income taxes |  | — |  | (519 | ) | 614 |  | — |  | 95 |
Equity in subsidiaries |  | 3,204 |  | — |  | — |  | (3,204 | ) | — |
Net income (loss) |  | $ | 3,204 |  | $ | 1,998 |  | $ | 1,206 |  | $ | (3,204 | ) | $ | 3,204 |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
|  | Six Months Ended June 30, 2013
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 409,618 |  | $ | 15,662 |  | $ | — |  | $ | 425,280 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 338,649 |  | — |  | — |  | 338,649 |
Impairment of inventory and investment in Unconsolidated LLCs |  | — |  | 2,101 |  | — |  | — |  | 2,101 |
General and administrative |  | — |  | 27,795 |  | 6,333 |  | — |  | 34,128 |
Selling |  | — |  | 29,338 |  | 46 |  | — |  | 29,384 |
Interest |  | — |  | 8,084 |  | 653 |  | — |  | 8,737 |
Total costs and expenses |  | — |  | 405,967 |  | 7,032 |  | — |  | 412,999 |
Income before income taxes |  | — |  | 3,651 |  | 8,630 |  | — |  | 12,281 |
(Benefit) provision for income taxes |  | — |  | (2,614 | ) | 3,044 |  | — |  | 430 |
Equity in subsidiaries |  | 11,851 |  | — |  | — |  | (11,851 | ) | — |
Net income |  | 11,851 |  | 6,265 |  | 5,586 |  | (11,851 | ) | 11,851 |
Preferred dividends |  | 1,219 |  | — |  | — |  | — |  | 1,219 |
Excess of fair value over book value of preferred shares redeemed |  | 2,190 |  | — |  | — |  | — |  | 2,190 |
Net income to common shareholders |  | $ | 8,442 |  | $ | 6,265 |  | $ | 5,586 |  | $ | (11,851 | ) | $ | 8,442 |
|  | Six Months Ended June 30, 2012
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 292,879 |  | $ | 9,240 |  | $ | — |  | $ | 302,119 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 244,441 |  | — |  | — |  | 244,441 |
Impairment of inventory and investment in Unconsolidated LLCs |  | — |  | 567 |  | — |  | — |  | 567 |
General and administrative |  | — |  | 21,513 |  | 4,770 |  | — |  | 26,283 |
Selling |  | — |  | 23,835 |  | 1 |  | — |  | 23,836 |
Interest |  | — |  | 7,388 |  | 679 |  | — |  | 8,067 |
Total costs and expenses |  | — |  | 297,744 |  | 5,450 |  | — |  | 303,194 |
(Loss) income before income taxes |  | — |  | (4,865 | ) | 3,790 |  | — |  | (1,075 | )
(Benefit) provision for income taxes |  | — |  | (2,400 | ) | 1,307 |  | — |  | (1,093 | )
Equity in subsidiaries |  | 18 |  | — |  | — |  | (18 | ) | — |
Net income (loss) |  | $ | 18 |  | $ | (2,465 | ) | $ | 2,483 |  | $ | (18 | ) | $ | 18 |
CONDENSED CONSOLIDATING BALANCE SHEET
|  | June 30, 2013
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
ASSETS: |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  | $ | 149,147 |  | $ | 17,105 |  | $ | — |  | $ | 166,252 |
Restricted cash |  | — |  | 12,478 |  | — |  | — |  | 12,478 |
Mortgage loans held for sale |  | — |  | — |  | 51,491 |  | — |  | 51,491 |
Inventory |  | — |  | 614,999 |  | — |  | — |  | 614,999 |
Property and equipment - net |  | — |  | 10,110 |  | 157 |  | — |  | 10,267 |
Investment in Unconsolidated LLCs |  | — |  | 10,160 |  | 18,488 |  | — |  | 28,648 |
Investment in subsidiaries |  | 398,806 |  | — |  | — |  | (398,806 | ) | — |
Intercompany assets |  | 316,248 |  | — |  | — |  | (316,248 | ) | — |
Other assets |  | 11,100 |  | 12,525 |  | 10,506 |  | — |  | 34,131 |
TOTAL ASSETS |  | $ | 726,154 |  | $ | 809,419 |  | $ | 97,747 |  | $ | (715,054 | ) | $ | 918,266 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
LIABILITIES: |  |  |  |  |  |
Accounts payable |  | $ | — |  | $ | 61,570 |  | $ | 318 |  | $ | — |  | $ | 61,888 |
Customer deposits |  | — |  | 15,472 |  | — |  | — |  | 15,472 |
Intercompany liabilities |  | — |  | 295,870 |  | 20,378 |  | (316,248 | ) | — |
Other liabilities |  | — |  | 42,625 |  | 6,505 |  | — |  | 49,130 |
Community development district obligations |  | — |  | 3,870 |  | — |  | — |  | 3,870 |
Obligation for consolidated inventory not owned |  | — |  | 1,881 |  | — |  | — |  | 1,881 |
Notes payable bank - financial services operations |  | — |  | — |  | 50,442 |  | — |  | 50,442 |
Notes payable - other |  | — |  | 9,429 |  | — |  | — |  | 9,429 |
Convertible senior subordinated notes due 2017 |  | 57,500 |  | — |  | — |  | — |  | 57,500 |
Convertible senior subordinated notes due 2018 |  | 86,250 |  | — |  | — |  | — |  | 86,250 |
Senior notes |  | 227,870 |  | — |  | — |  | — |  | 227,870 |
TOTAL LIABILITIES |  | 371,620 |  | 430,717 |  | 77,643 |  | (316,248 | ) | 563,732 |
SHAREHOLDERS' EQUITY |  | 354,534 |  | 378,702 |  | 20,104 |  | (398,806 | ) | 354,534 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $ | 726,154 |  | $ | 809,419 |  | $ | 97,747 |  | $ | (715,054 | ) | $ | 918,266 |
CONDENSED CONSOLIDATING BALANCE SHEET
|  | December 31, 2012
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
ASSETS: |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  | $ | 126,334 |  | $ | 19,164 |  | $ | — |  | $ | 145,498 |
Restricted cash |  | — |  | 8,680 |  | — |  | — |  | 8,680 |
Mortgage loans held for sale |  | — |  | — |  | 71,121 |  | — |  | 71,121 |
Inventory |  | — |  | 540,761 |  | 16,056 |  | — |  | 556,817 |
Property and equipment - net |  | — |  | 10,314 |  | 125 |  | — |  | 10,439 |
Investment in Unconsolidated LLCs |  | — |  | — |  | 11,732 |  | — |  | 11,732 |
Investment in subsidiaries |  | 391,555 |  | — |  | — |  | (391,555 | ) | — |
Intercompany assets |  | 219,962 |  | — |  | — |  | (219,962 | ) | — |
Other assets |  | 9,081 |  | 12,375 |  | 5,557 |  | — |  | 27,013 |
TOTAL ASSETS |  | $ | 620,598 |  | $ | 698,464 |  | $ | 123,755 |  | $ | (611,517 | ) | $ | 831,300 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
LIABILITIES: |  |  |  |  |  |
Accounts payable |  | $ | — |  | $ | 46,882 |  | $ | 808 |  | $ | — |  | $ | 47,690 |
Customer deposits |  | — |  | 10,239 |  | — |  | — |  | 10,239 |
Intercompany liabilities |  | — |  | 205,389 |  | 14,573 |  | (219,962 | ) | — |
Other liabilities |  | — |  | 44,230 |  | 5,742 |  | — |  | 49,972 |
Community development district obligations |  | — |  | 4,634 |  | — |  | — |  | 4,634 |
Obligation for consolidated inventory not owned |  | — |  | 3,549 |  | 15,556 |  | — |  | 19,105 |
Notes payable bank - financial services operations |  | — |  | — |  | 67,957 |  | — |  | 67,957 |
Notes payable - other |  | — |  | 11,105 |  | — |  | — |  | 11,105 |
Convertible senior subordinated notes due 2017 |  | 57,500 |  | — |  | — |  | — |  | 57,500 |
Senior notes |  | 227,670 |  | — |  | — |  | — |  | 227,670 |
TOTAL LIABILITIES |  | 285,170 |  | 326,028 |  | 104,636 |  | (219,962 | ) | 495,872 |
SHAREHOLDERS' EQUITY |  | 335,428 |  | 372,436 |  | 19,119 |  | (391,555 | ) | 335,428 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $ | 620,598 |  | $ | 698,464 |  | $ | 123,755 |  | $ | (611,517 | ) | $ | 831,300 |
(a) | Certain amounts above have been reclassified from intercompany assets to intercompany liabilities as of December 31, 2012. These reclassifications relate solely to transactions between M/I Homes, Inc. and its subsidiaries and are immaterial to the Supplemental Condensed Consolidated Financial Statements. These reclassifications do not impact the Company's consolidated financial statements.
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
| Six Months Ended June 30, 2013
(In thousands) | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |
Net cash (used in) provided by operating activities | $ | 4,600 |  | $ | (47,747 | ) | $ | 22,569 |  | $ | (4,600 | ) | $ | (25,178 | )
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Restricted Cash | — |  | (3,869 | ) | — |  |  |  | (3,869 | )
Purchase of property and equipment | — |  | (991 | ) | (59 | ) |  |  | (1,050 | )
Investments in and advances to Unconsolidated LLC's | — |  | (10,160 | ) | (8,128 | ) | — |  | (18,288 | )
Net cash used in investing activities | — |  | (15,020 | ) | (8,187 | ) | — |  | (23,207 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |
Repayments of bank borrowings - net | — |  | — |  | (17,515 | ) | — |  | (17,515 | )
Principal repayments of note payable - other and community development district bond obligations | — |  | (1,676 | ) | — |  | — |  | (1,676 | )
Proceeds from issuance of convertible senior subordinated notes due 2018 | 86,250 |  | — |  | — |  | — |  | 86,250 |
Redemption of preferred shares | (50,352 | ) | — |  | — |  | — |  | (50,352 | )
Proceeds from issuance of common shares | 54,617 |  | — |  | — |  | — |  | 54,617 |
Proceeds from exercise of stock options | 2,639 |  | — |  | — |  | — |  | 2,639 |
Intercompany financing | (96,535 | ) | 90,800 |  | 5,735 |  | — |  | — |
Dividends paid | (1,219 | ) | — |  | (4,600 | ) | 4,600 |  | (1,219 | )
Debt issue costs | — |  | (3,544 | ) | (61 | ) | — |  | (3,605 | )
Net cash provided by (used in) financing activities | (4,600 | ) | 85,580 |  | (16,441 | ) | 4,600 |  | 69,139 |
Net increase (decrease) in cash and cash equivalents | — |  | 22,813 |  | (2,059 | ) | — |  | 20,754 |
Cash and cash equivalents balance at beginning of period | — |  | 126,334 |  | 19,164 |  | — |  | 145,498 |
Cash and cash equivalents balance at end of period | $ | — |  | $ | 149,147 |  | $ | 17,105 |  | $ | — |  | $ | 166,252 |
| Six Months Ended June 30, 2012
(In thousands) | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |
Net cash (used in) provided by operating activities | $ | 2,000 |  | $ | (32,922 | ) | $ | 9,393 |  | $ | (2,000 | ) | $ | (23,529 | )
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Restricted cash | — |  | 28,756 |  | — |  | — |  | 28,756 |
Purchase of property and equipment | — |  | (242 | ) | (10 | ) | — |  | (252 | )
Acquisition, net of cash acquired | — |  | (4,707 | ) | — |  | — |  | (4,707 | )
Investments in and advances to Unconsolidated LLC's | — |  | — |  | (563 | ) | — |  | (563 | )
Distributions from Unconsolidated LLCs | — |  | — |  | — |  | — |  | — |
Net cash provided by (used in) investing activities | — |  | 23,807 |  | (573 | ) | — |  | 23,234 |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |
Repayments of bank borrowings - net | — |  | — |  | (6,263 | ) | — |  | (6,263 | )
Repayment of Senior Notes | (41,443 | ) | — |  | — |  | — |  | (41,443 | )
Principal repayments of note payable - other and community development district bond obligations | — |  | 4,965 |  | — |  | — |  | 4,965 |
Intercompany financing | 9,003 |  | (8,606 | ) | (397 | ) | — |  | — |
Proceeds from issuance of senior notes | 29,700 |  | — |  | — |  | — |  | 29,700 |
Dividends paid | — |  | — |  | (2,000 | ) | 2,000 |  | — |
Debt issue costs | — |  | (2,869 | ) | (31 | ) | — |  | (2,900 | )
Proceeds from exercise of stock options | 740 |  | — |  | — |  | — |  | 740 |
Net cash used in financing activities | (2,000 | ) | (6,510 | ) | (8,691 | ) | 2,000 |  | (15,201 | )
Net (decrease) increase in cash and cash equivalents | — |  | (15,625 | ) | 129 |  | — |  | (15,496 | )
Cash and cash equivalents balance at beginning of period | — |  | 43,539 |  | 16,254 |  | — |  | 59,793 |
Cash and cash equivalents balance at end of period | $ | — |  | $ | 27,914 |  | $ | 16,383 |  | $ | — |  | $ | 44,297 |
(a) | Certain amounts above have been reclassified from intercompany financing to dividends paid and cash flows from operating activities for the six months ended June 30, 2012. These reclassifications relate solely to transactions between M/I Homes, Inc. and its subsidiaries and are immaterial to the Supplemental Condensed Consolidated Financial Statements. These reclassifications do not impact the Company's consolidated financial statements.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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