XML 53 R36.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Supplemental Guarantor Information Supplemental Guarantor Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Supplemental Guarantor Information [Abstract] |
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block] |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
|  | Year Ended December 31, 2016
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 1,649,316 |  | $ | 42,011 |  | $ | — |  | $ | 1,691,327 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 1,358,183 |  | — |  | — |  | 1,358,183 |
Impairment of inventory and investment in joint venture arrangements |  | — |  | 3,992 |  | — |  | — |  | 3,992 |
General and administrative |  | — |  | 92,135 |  | 19,465 |  | — |  | 111,600 |
Selling |  | — |  | 108,809 |  | — |  | — |  | 108,809 |
Equity in income of joint venture arrangements |  | — |  | — |  | (640 | ) | — |  | (640 | )
Interest |  | — |  | 15,486 |  | 2,112 |  | — |  | 17,598 |
Total costs and expenses |  | — |  | 1,578,605 |  | 20,937 |  | — |  | 1,599,542 |
Income before income taxes |  | — |  | 70,711 |  | 21,074 |  | — |  | 91,785 |
Provision for income taxes |  | — |  | 28,161 |  | 7,015 |  | — |  | 35,176 |
Equity in subsidiaries |  | 56,609 |  | — |  | — |  | (56,609 | ) | — |
Net income |  | $ | 56,609 |  | $ | 42,550 |  | $ | 14,059 |  | $ | (56,609 | ) | $ | 56,609 |
Preferred dividends |  | 4,875 |  | — |  | — |  | — |  | 4,875 |
Net income to common shareholders |  | $ | 51,734 |  | $ | 42,550 |  | $ | 14,059 |  | $ | (56,609 | ) | $ | 51,734 |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
|  | Year Ended December 31, 2015
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 1,382,420 |  | $ | 35,975 |  | $ | — |  | $ | 1,418,395 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 1,114,663 |  | — |  | — |  | 1,114,663 |
Impairment of inventory and investment in joint venture arrangements |  | — |  | 3,638 |  | — |  | — |  | 3,638 |
General and administrative |  | — |  | 77,662 |  | 15,546 |  | — |  | 93,208 |
Selling |  | — |  | 95,092 |  | — |  | — |  | 95,092 |
Equity in income of joint venture arrangements |  | — |  | — |  | (498 | ) | — |  | (498 | )
Interest |  | — |  | 15,905 |  | 1,616 |  | — |  | 17,521 |
Loss on early extinguishment of debt |  | — |  | 7,842 |  | — |  | — |  | 7,842 |
Total costs and expenses |  | — |  | 1,314,802 |  | 16,664 |  | — |  | 1,331,466 |
Income before income taxes |  | — |  | 67,618 |  | 19,311 |  | — |  | 86,929 |
Provision for income taxes |  | — |  | 28,758 |  | 6,408 |  | — |  | 35,166 |
Equity in subsidiaries |  | 51,763 |  | — |  | — |  | (51,763 | ) | — |
Net income |  | $ | 51,763 |  | $ | 38,860 |  | $ | 12,903 |  | $ | (51,763 | ) | $ | 51,763 |
Preferred dividends |  | 4,875 |  | — |  | — |  | — |  | 4,875 |
Net income to common shareholders |  | $ | 46,888 |  | $ | 38,860 |  | $ | 12,903 |  | $ | (51,763 | ) | $ | 46,888 |
|  | Year Ended December 31, 2014
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 1,185,058 |  | $ | 30,122 |  | $ | — |  | $ | 1,215,180 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 958,991 |  | — |  | — |  | 958,991 |
Impairment of inventory and investment in joint venture arrangements |  | — |  | 3,457 |  | — |  | — |  | 3,457 |
General and administrative |  | — |  | 73,747 |  | 15,083 |  | — |  | 88,830 |
Selling |  | — |  | 81,148 |  | — |  | — |  | 81,148 |
Equity in income of joint venture arrangements |  | — |  | — |  | (347 | ) | — |  | (347 | )
Interest |  | — |  | 11,926 |  | 1,439 |  | — |  | 13,365 |
Total costs and expenses |  | — |  | 1,129,269 |  | 16,175 |  | — |  | 1,145,444 |
Income before income taxes |  | — |  | 55,789 |  | 13,947 |  | — |  | 69,736 |
Provision for income taxes |  | — |  | 14,341 |  | 4,606 |  | — |  | 18,947 |
Equity in subsidiaries |  | 50,789 |  | — |  | — |  | (50,789 | ) | — |
Net income |  | $ | 50,789 |  | $ | 41,448 |  | $ | 9,341 |  | $ | (50,789 | ) | $ | 50,789 |
Preferred dividends |  | 4,875 |  | — |  | — |  | — |  | 4,875 |
Net income to common shareholders |  | $ | 45,914 |  | $ | 41,448 |  | $ | 9,341 |  | $ | (50,789 | ) | $ | 45,914 |
Schedule Of Condensed Consolidating Balance Sheet [Table Text Block] |
CONDENSED CONSOLIDATING BALANCE SHEET
|  | December 31, 2016
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
ASSETS: |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  | $ | 20,927 |  | $ | 13,514 |  | $ | — |  | $ | 34,441 |
Mortgage loans held for sale |  | — |  | — |  | 154,020 |  | — |  | 154,020 |
Inventory |  | — |  | 1,215,934 |  | — |  | — |  | 1,215,934 |
Property and equipment - net |  | — |  | 21,242 |  | 1,057 |  | — |  | 22,299 |
Investment in joint venture arrangements |  | — |  | 12,537 |  | 15,479 |  | — |  | 28,016 |
Investment in subsidiaries |  | 666,008 |  | — |  | — |  | (666,008 | ) | — |
Deferred income taxes, net of valuation allowances |  | — |  | 30,767 |  | 108 |  | — |  | 30,875 |
Intercompany assets |  | 424,669 |  | — |  | — |  | (424,669 | ) | — |
Other assets |  | 1,690 |  | 43,809 |  | 17,427 |  | — |  | 62,926 |
TOTAL ASSETS |  | $ | 1,092,367 |  | $ | 1,345,216 |  | $ | 201,605 |  | $ | (1,090,677 | ) | $ | 1,548,511 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
LIABILITIES: |  |  |  |  |  |
Accounts payable |  | $ | — |  | $ | 102,663 |  | $ | 549 |  | $ | — |  | $ | 103,212 |
Customer deposits |  | — |  | 22,156 |  | — |  | — |  | 22,156 |
Intercompany liabilities |  | — |  | 411,196 |  | 13,473 |  | (424,669 | ) | — |
Other liabilities |  | — |  | 117,133 |  | 6,029 |  | — |  | 123,162 |
Community development district obligations |  | — |  | 476 |  | — |  | — |  | 476 |
Obligation for consolidated inventory not owned |  | — |  | 7,528 |  | — |  | — |  | 7,528 |
Notes payable bank - homebuilding operations |  | — |  | 40,300 |  | — |  | — |  | 40,300 |
Notes payable bank - financial services operations |  | — |  | — |  | 152,895 |  | — |  | 152,895 |
Notes payable - other |  | — |  | 6,415 |  | — |  | — |  | 6,415 |
Convertible senior subordinated notes due 2017 - net |  | 57,093 |  | — |  | — |  | — |  | 57,093 |
Convertible senior subordinated notes due 2018 - net |  | 85,423 |  | — |  | — |  | — |  | 85,423 |
Senior notes due 2021 - net |  | 295,677 |  | — |  | — |  | — |  | 295,677 |
TOTAL LIABILITIES |  | 438,193 |  | 707,867 |  | 172,946 |  | (424,669 | ) | 894,337 |
Shareholders’ equity |  | 654,174 |  | 637,349 |  | 28,659 |  | (666,008 | ) | 654,174 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $ | 1,092,367 |  | $ | 1,345,216 |  | $ | 201,605 |  | $ | (1,090,677 | ) | $ | 1,548,511 |
CONDENSED CONSOLIDATING BALANCE SHEET
|  | December 31, 2015
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
ASSETS: |  |  |  |  |  |
Cash, cash equivalents and restricted cash (1) |  | $ | — |  | $ | 2,896 |  | $ | 18,156 |  | $ | (7,951 | ) | $ | 13,101 |
Mortgage loans held for sale |  | — |  | — |  | 127,001 |  | — |  | 127,001 |
Inventory |  | — |  | 1,112,042 |  | — |  | — |  | 1,112,042 |
Property and equipment - net |  | — |  | 12,222 |  | 675 |  | — |  | 12,897 |
Investment in joint venture arrangements |  | — |  | 17,425 |  | 19,542 |  | — |  | 36,967 |
Investment in subsidiaries |  | 621,052 |  | — |  | — |  | (621,052 | ) | — |
Deferred income taxes, net of valuation allowances |  | — |  | 67,255 |  | 149 |  | — |  | 67,404 |
Intercompany assets |  | 408,847 |  | — |  | — |  | (408,847 | ) | — |
Other assets |  | 2,626 |  | 32,335 |  | 11,181 |  | — |  | 46,142 |
TOTAL ASSETS |  | $ | 1,032,525 |  | $ | 1,244,175 |  | $ | 176,704 |  | $ | (1,037,850 | ) | $ | 1,415,554 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
LIABILITIES: |  |  |  |  |  |
Accounts payable |  | $ | — |  | $ | 94,554 |  | $ | 275 |  | $ | (7,951 | ) | $ | 86,878 |
Customer deposits |  | — |  | 19,567 |  | — |  | — |  | 19,567 |
Intercompany liabilities |  | — |  | 387,439 |  | 21,408 |  | (408,847 | ) | — |
Other liabilities |  | — |  | 88,550 |  | 5,120 |  | — |  | 93,670 |
Community development district obligations |  | — |  | 1,018 |  | — |  | — |  | 1,018 |
Obligation for consolidated inventory not owned |  | — |  | 6,007 |  | — |  | — |  | 6,007 |
Notes payable bank - homebuilding operations |  | — |  | 43,800 |  | — |  | — |  | 43,800 |
Notes payable bank - financial services operations |  | — |  | — |  | 123,648 |  | — |  | 123,648 |
Notes payable - other |  | — |  | 8,441 |  | — |  | — |  | 8,441 |
Convertible senior subordinated notes due 2017 - net |  | 56,518 |  | — |  | — |  | — |  | 56,518 |
Convertible senior subordinated notes due 2018 - net |  | 84,714 |  | — |  | — |  | — |  | 84,714 |
Senior notes due 2021 - net |  | 294,727 |  | — |  | — |  | — |  | 294,727 |
TOTAL LIABILITIES |  | 435,959 |  | 649,376 |  | 150,451 |  | (416,798 | ) | 818,988 |
Shareholders’ equity |  | 596,566 |  | 594,799 |  | 26,253 |  | (621,052 | ) | 596,566 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $ | 1,032,525 |  | $ | 1,244,175 |  | $ | 176,704 |  | $ | (1,037,850 | ) | $ | 1,415,554 |
(1) | During 2016, we elected to early-adopt Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Certain amounts above have been adjusted to apply the new method retrospectively.
Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block] |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
|  | Year Ended December 31, 2016
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |
Net cash provided by (used in) operating activities |  | $ | 11,653 |  | $ | 42,572 |  | $ | (8,375 | ) | $ | (11,653 | ) | $ | 34,197 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |
Purchase of property and equipment |  | — |  | (12,505 | ) | (601 | ) | — |  | (13,106 | )
Intercompany investing |  | (6,960 | ) | — |  | — |  | 6,960 |  | — |
Investments in and advances to joint venture arrangements |  | — |  | (13,764 | ) | (7,982 | ) | — |  | (21,746 | )
Return of capital from joint venture arrangements |  | — |  | — |  | 3,207 |  | — |  | 3,207 |
Net cash (used in) provided by investing activities |  | (6,960 | ) | (26,269 | ) | (5,376 | ) | 6,960 |  | (31,645 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |
Proceeds from bank borrowings - homebuilding operations |  | — |  | 351,500 |  | — |  | — |  | 351,500 |
Principal repayments of bank borrowings - homebuilding operations |  | — |  | (355,000 | ) | — |  | — |  | (355,000 | )
Net proceeds from bank borrowings - financial services operations |  | — |  | — |  | 29,247 |  | — |  | 29,247 |
Principal repayments of notes payable - other and CDD bond obligations |  | — |  | (2,026 | ) | — |  | — |  | (2,026 | )
Dividends paid |  | (4,875 | ) | — |  | (11,653 | ) | 11,653 |  | (4,875 | )
Intercompany financing |  | — |  | 7,407 |  | (8,398 | ) | 991 |  | — |
Debt issue costs |  | — |  | (153 | ) | (87 | ) | — |  | (240 | )
Proceeds from exercise of stock options |  | 182 |  | — |  | — |  | — |  | 182 |
Net cash (used in) provided by financing activities |  | (4,693 | ) | 1,728 |  | 9,109 |  | 12,644 |  | 18,788 |
Net increase (decrease) in cash and cash equivalents |  | — |  | 18,031 |  | (4,642 | ) | 7,951 |  | 21,340 |
Cash and cash equivalents balance at beginning of period |  | — |  | 2,896 |  | 18,156 |  | (7,951 | ) | 13,101 |
Cash and cash equivalents balance at end of period |  | $ | — |  | $ | 20,927 |  | $ | 13,514 |  | $ | — |  | $ | 34,441 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
|  | Year Ended December 31, 2015
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |
Net cash provided by (used in) operating activities (1) |  | $ | 7,178 |  | $ | (58,772 | ) | $ | (23,593 | ) | $ | (7,178 | ) | $ | (82,365 | )
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |
Purchase of property and equipment |  | — |  | (3,156 | ) | (503 | ) | — |  | (3,659 | )
Acquisition, net of cash acquired |  | — |  | (23,950 | ) | — |  | — |  | (23,950 | )
Intercompany investing |  | (3,338 | ) | — |  | — |  | 3,338 |  | — |
Investments in and advances to joint venture arrangements |  | — |  | (8,087 | ) | (10,075 | ) | — |  | (18,162 | )
Return of capital from joint venture arrangements |  | — |  | — |  | 1,226 |  | — |  | 1,226 |
Net proceeds from the sale of mortgage servicing rights |  | — |  | — |  | 3,065 |  | — |  | 3,065 |
Net cash (used in) provided by investing activities (1) |  | (3,338 | ) | (35,193 | ) | (6,287 | ) | 3,338 |  | (41,480 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |
Repayment of senior notes |  | — |  | (226,874 | ) | — |  | — |  | (226,874 | )
Proceeds from issuance of senior notes |  | — |  | 300,000 |  | — |  | — |  | 300,000 |
Proceeds from bank borrowings - homebuilding operations |  | — |  | 417,300 |  | — |  | — |  | 417,300 |
Principal repayments of bank borrowings - homebuilding operations |  | — |  | (403,500 | ) | — |  | — |  | (403,500 | )
Net proceeds from bank borrowings - financial services operations |  | — |  | — |  | 38,269 |  | — |  | 38,269 |
Principal repayments of notes payable - other and CDD bond obligations |  | — |  | (1,077 | ) | — |  | — |  | (1,077 | )
Dividends paid |  | (4,875 | ) | — |  | (7,178 | ) | 7,178 |  | (4,875 | )
Intercompany financing |  | — |  | 5,929 |  | 5,360 |  | (11,289 | ) | — |
Debt issue costs |  | — |  | (5,740 | ) | (78 | ) | — |  | (5,818 | )
Proceeds from exercise of stock options |  | 1,035 |  | — |  | — |  | — |  | 1,035 |
Net cash (used in) provided by financing activities |  | (3,840 | ) | 86,038 |  | 36,373 |  | (4,111 | ) | 114,460 |
Net (decrease) increase in cash and cash equivalents |  | — |  | (7,927 | ) | 6,493 |  | (7,951 | ) | (9,385 | )
Cash and cash equivalents balance at beginning of period |  | — |  | 10,823 |  | 11,663 |  | — |  | 22,486 |
Cash and cash equivalents balance at end of period |  | $ | — |  | $ | 2,896 |  | $ | 18,156 |  | $ | (7,951 | ) | $ | 13,101 |
(1) | During 2016, we elected to early-adopt Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Certain amounts above have been adjusted to apply the new method retrospectively.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
|  | Year Ended December 31, 2014
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |
Net cash provided by (used in) operating activities (1) |  | $ | 10,200 |  | $ | (143,501 | ) | $ | 10,997 |  | $ | (10,200 | ) | $ | (132,504 | )
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |
Purchase of property and equipment |  | — |  | (2,793 | ) | (153 | ) | — |  | (2,946 | )
Investments in and advances to joint venture arrangements |  | — |  | (14,435 | ) | (5,980 | ) | — |  | (20,415 | )
Return of capital from joint venture arrangements |  | — |  | 275 |  | 1,248 |  | — |  | 1,523 |
Intercompany investing |  | (7,269 | ) | — |  | — |  | 7,269 |  | — |
Net proceeds from the sale of mortgage servicing rights |  | — |  | — |  | 2,135 |  | — |  | 2,135 |
Net cash (used in) provided by investing activities (1) |  | (7,269 | ) | (16,953 | ) | (2,750 | ) | 7,269 |  | (19,703 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |
Proceeds from bank borrowings - homebuilding operations |  | — |  | 192,600 |  | — |  | — |  | 192,600 |
Principal repayments of bank borrowings - homebuilding operations |  | — |  | (162,600 | ) | — |  | — |  | (162,600 | )
Net proceeds from bank borrowings - financial services operations |  | — |  | — |  | 5,350 |  | — |  | 5,350 |
Principal proceeds from note payable - other and CDD bond obligations |  | — |  | 1,728 |  | — |  | — |  | 1,728 |
Dividends paid |  | (4,875 | ) | — |  | (10,200 | ) | 10,200 |  | (4,875 | )
Intercompany financing |  | — |  | 14,244 |  | (6,975 | ) | (7,269 | ) | — |
Debt issue costs |  | — |  | (2,004 | ) | (77 | ) | — |  | (2,081 | )
Proceeds from exercise of stock options |  | 1,944 |  | — |  | — |  | — |  | 1,944 |
Net cash (used in) provided by financing activities |  | (2,931 | ) | 43,968 |  | (11,902 | ) | 2,931 |  | 32,066 |
Net decrease in cash and cash equivalents |  | — |  | (116,486 | ) | (3,655 | ) | — |  | (120,141 | )
Cash and cash equivalents balance at beginning of period |  | — |  | 127,309 |  | 15,318 |  | — |  | 142,627 |
Cash and cash equivalents balance at end of period |  | $ | — |  | $ | 10,823 |  | $ | 11,663 |  | $ | — |  | $ | 22,486 |
(1) | During 2016, we elected to early-adopt Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Certain amounts above have been adjusted to apply the new method retrospectively.

X
- Definition Disclosure of the condensed consolidating balance sheet normally using the registrant (parent) as the sole domain member. + References No definition available. + Details
Name: | mho_ScheduleOfCondensedConsolidatingBalanceSheetTableTextBlock
Namespace Prefix: | mho_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the condensed statement of cash flows normally using the registrant (parent) as the sole domain member. + References No definition available. + Details
Name: | mho_ScheduleOfCondensedConsolidatingStatementOfCashFlowsTableTextBlock
Namespace Prefix: | mho_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the condensed statement of operations normally using the registrant (parent) as the sole domain member + References No definition available. + Details
Name: | mho_ScheduleOfCondensedConsolidatingStatementOfOperationsTableTextBlock
Namespace Prefix: | mho_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Supplemental Guarantor Information [Abstract] + References No definition available. + Details
Name: | mho_SupplementalGuarantorInformationAbstract
Namespace Prefix: | mho_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration