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Supplemental Guarantor Information | 3 Months Ended
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Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Supplemental Guarantor information | Supplemental Guarantor Information As discussed in Note 7, our obligations to pay principal, premium, if any, and interest under certain debt issuances are guaranteed on a joint and several basis by substantially all of our subsidiaries. Certain of our immaterial subsidiaries do not guarantee our Senior Notes or the Facility. The guarantees are full and unconditional and the guarantor subsidiaries are 100% owned by Beazer Homes USA, Inc. The following unaudited financial information presents the line items of our unaudited consolidated financial statements separated by amounts related to our parent company, guarantor subsidiaries, non-guarantor subsidiaries and consolidating adjustments as of or for the periods presented. Beazer Homes USA, Inc. Unaudited Consolidating Balance Sheet Information December 31, 2015 (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 152,824 |  |  | $ | (547 | ) |  | $ | 988 |  |  | $ | (8,384 | ) |  | $ | 144,881 |
Restricted cash | 37,708 |  |  | 1,643 |  |  | — |  |  | — |  |  | 39,351 |
Accounts receivable (net of allowance of $921) | — |  |  | 50,555 |  |  | — |  |  | — |  |  | 50,555 |
Income tax receivable | 269 |  |  | — |  |  | — |  |  | — |  |  | 269 |
Owned inventory | — |  |  | 1,729,937 |  |  | — |  |  | — |  |  | 1,729,937 |
Investments in unconsolidated entities and marketable securities | 773 |  |  | 10,948 |  |  | — |  |  | — |  |  | 11,721 |
Deferred tax assets, net | 325,058 |  |  | — |  |  | — |  |  | — |  |  | 325,058 |
Property and equipment, net | — |  |  | 20,236 |  |  | — |  |  | — |  |  | 20,236 |
Investments in subsidiaries | 662,183 |  |  | — |  |  | — |  |  | (662,183 | ) |  | — |
Intercompany | 950,547 |  |  | — |  |  | 2,384 |  |  | (952,931 | ) |  | — |
Other assets | 11,874 |  |  | 4,814 |  |  | — |  |  | — |  |  | 16,688 |
Total assets | $ | 2,141,236 |  |  | $ | 1,817,586 |  |  | $ | 3,372 |  |  | $ | (1,623,498 | ) |  | $ | 2,338,696 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Trade accounts payable | $ | — |  |  | $ | 81,395 |  |  | $ | — |  |  | $ | — |  |  | $ | 81,395 |
Other liabilities | 20,632 |  |  | 101,138 |  |  | 498 |  |  | — |  |  | 122,268 |
Intercompany | 2,384 |  |  | 958,931 |  |  | — |  |  | (961,315 | ) |  | — |
Total debt (net of discounts of $3,449) | 1,485,243 |  |  | 16,813 |  |  | — |  |  | — |  |  | 1,502,056 |
Total liabilities | 1,508,259 |  |  | 1,158,277 |  |  | 498 |  |  | (961,315 | ) |  | 1,705,719 |
Stockholders’ equity | 632,977 |  |  | 659,309 |  |  | 2,874 |  |  | (662,183 | ) |  | 632,977 |
Total liabilities and stockholders’ equity | $ | 2,141,236 |  |  | $ | 1,817,586 |  |  | $ | 3,372 |  |  | $ | (1,623,498 | ) |  | $ | 2,338,696 |
Beazer Homes USA, Inc. Unaudited Consolidating Balance Sheet Information September 30, 2015 (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 232,226 |  |  | $ | 21,543 |  |  | $ | 1,006 |  |  | $ | (3,192 | ) |  | $ | 251,583 |
Restricted cash | 37,177 |  |  | 1,724 |  |  | — |  |  | — |  |  | 38,901 |
Accounts receivable (net of allowance of $1,052) | — |  |  | 52,378 |  |  | 1 |  |  | — |  |  | 52,379 |
Income tax receivable | 419 |  |  | — |  |  | — |  |  | — |  |  | 419 |
Owned inventory | — |  |  | 1,697,590 |  |  | — |  |  | — |  |  | 1,697,590 |
Consolidated inventory not owned | — |  |  | — |  |  | — |  |  | — |  |  | — |
Investments in marketable securities and unconsolidated entities | 773 |  |  | 12,961 |  |  | — |  |  | — |  |  | 13,734 |
Deferred tax assets, net | 325,373 |  |  | — |  |  | — |  |  | — |  |  | 325,373 |
Property and equipment, net | — |  |  | 22,230 |  |  | — |  |  | — |  |  | 22,230 |
Investments in subsidiaries | 649,701 |  |  | — |  |  | — |  |  | (649,701 | ) |  | — |
Intercompany | 913,733 |  |  | — |  |  | 2,384 |  |  | (916,117 | ) |  | — |
Other assets | 12,519 |  |  | 6,471 |  |  | 4 |  |  | — |  |  | 18,994 |
Total assets | $ | 2,171,921 |  |  | $ | 1,814,897 |  |  | $ | 3,395 |  |  | $ | (1,569,010 | ) |  | $ | 2,421,203 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Trade accounts payable | $ | — |  |  | $ | 113,539 |  |  | $ | — |  |  | $ | — |  |  | $ | 113,539 |
Other liabilities | 31,703 |  |  | 116,718 |  |  | 545 |  |  | — |  |  | 148,966 |
Intercompany | 2,384 |  |  | 916,925 |  |  | — |  |  | (919,309 | ) |  | — |
Obligations related to land not owned under option agreements | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total debt (net of discounts of $3,639) | 1,507,411 |  |  | 20,864 |  |  | — |  |  | — |  |  | 1,528,275 |
Total liabilities | 1,541,498 |  |  | 1,168,046 |  |  | 545 |  |  | (919,309 | ) |  | 1,790,780 |
Stockholders’ equity | 630,423 |  |  | 646,851 |  |  | 2,850 |  |  | (649,701 | ) |  | 630,423 |
Total liabilities and stockholders’ equity | $ | 2,171,921 |  |  | $ | 1,814,897 |  |  | $ | 3,395 |  |  | $ | (1,569,010 | ) |  | $ | 2,421,203 |
Beazer Homes USA, Inc. Unaudited Consolidating Statements of Income and Unaudited Comprehensive Income (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2015 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 344,449 |  |  | $ | 73 |  |  | $ | (73 | ) |  | $ | 344,449 |
Home construction and land sales expenses | 13,367 |  |  | 272,217 |  |  | — |  |  | (73 | ) |  | 285,511 |
Inventory impairments and abandonments | — |  |  | 1,356 |  |  | — |  |  | — |  |  | 1,356 |
Gross (loss) profit | (13,367 | ) |  | 70,876 |  |  | 73 |  |  | — |  |  | 57,582 |
Commissions | — |  |  | 13,774 |  |  | — |  |  | — |  |  | 13,774 |
General and administrative expenses | — |  |  | 31,642 |  |  | 27 |  |  |  |  |  | 31,669 |
Depreciation and amortization | — |  |  | 2,991 |  |  | — |  |  | — |  |  | 2,991 |
Operating (loss) income | (13,367 | ) |  | 22,469 |  |  | 46 |  |  | — |  |  | 9,148 |
Equity in income of unconsolidated entities | — |  |  | 60 |  |  | — |  |  | — |  |  | 60 |
Loss on extinguishment of debt | (828 | ) |  | — |  |  | — |  |  | — |  |  | (828 | )
Other (expense) income, net | (7,432 | ) |  | 868 |  |  | (1 | ) |  | — |  |  | (6,565 | )
(Loss) income before income taxes | (21,627 | ) |  | 23,397 |  |  | 45 |  |  | — |  |  | 1,815 |
(Benefit from) provision for income taxes | (10,143 | ) |  | 10,742 |  |  | 17 |  |  | — |  |  | 616 |
Equity in income of subsidiaries | 12,683 |  |  | — |  |  | — |  |  | (12,683 | ) |  | — |
Income (loss) from continuing operations | 1,199 |  |  | 12,655 |  |  | 28 |  |  | (12,683 | ) |  | 1,199 |
Loss from discontinued operations | — |  |  | (197 | ) |  | (3 | ) |  | — |  |  | (200 | )
Equity in loss of subsidiaries from discontinued operations | (200 | ) |  | — |  |  | — |  |  | 200 |  |  | — |
Net income (loss) and comprehensive income (loss) | $ | 999 |  |  | $ | 12,458 |  |  | $ | 25 |  |  | $ | (12,483 | ) |  | $ | 999 |
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2014 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 265,764 |  |  | $ | 98 |  |  | $ | (98 | ) |  | $ | 265,764 |
Home construction and land sales expenses | 8,194 |  |  | 222,450 |  |  | — |  |  | (98 | ) |  | 230,546 |
Gross (loss) profit | (8,194 | ) |  | 43,314 |  |  | 98 |  |  | — |  |  | 35,218 |
Commissions | — |  |  | 10,926 |  |  | — |  |  | — |  |  | 10,926 |
General and administrative expenses | — |  |  | 31,414 |  |  | 27 |  |  | — |  |  | 31,441 |
Depreciation and amortization | — |  |  | 2,341 |  |  | — |  |  | — |  |  | 2,341 |
Operating (loss) income | (8,194 | ) |  | (1,367 | ) |  | 71 |  |  | — |  |  | (9,490 | )
Equity in loss of unconsolidated entities | — |  |  | 142 |  |  | — |  |  | — |  |  | 142 |
Other (expense) income, net | (9,747 | ) |  | 314 |  |  | (1 | ) |  | — |  |  | (9,434 | )
(Loss) income before income taxes | (17,941 | ) |  | (911 | ) |  | 70 |  |  | — |  |  | (18,782 | )
(Benefit from) provision for income taxes | (6,627 | ) |  | 5,906 |  |  | 25 |  |  | — |  |  | (696 | )
Equity in income of subsidiaries | (6,772 | ) |  | — |  |  | — |  |  | 6,772 |  |  | — |
(Loss) income from continuing operations | (18,086 | ) |  | (6,817 | ) |  | 45 |  |  | 6,772 |  |  | (18,086 | )
Loss from discontinued operations | — |  |  | (4,251 | ) |  | (3 | ) |  | — |  |  | (4,254 | )
Equity in income of subsidiaries from discontinued operations | (4,254 | ) |  | — |  |  | — |  |  | 4,254 |  |  | — |
Net (loss) income | $ | (22,340 | ) |  | $ | (11,068 | ) |  | $ | 42 |  |  | $ | 11,026 |  |  | $ | (22,340 | )
Change in unrealized loss related to available-for-sale securities | 206 |  |  | — |  |  | — |  |  | — |  |  | 206 |
Comprehensive (loss) income | $ | (22,134 | ) |  | $ | (11,068 | ) |  | $ | 42 |  |  | $ | 11,026 |  |  | $ | (22,134 | )
Beazer Homes USA, Inc. Unaudited Condensed Consolidating Statements of Cash Flow (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2015 |  |  |  |  |  |  |  |  |
Net cash used in operating activities | $ | (22,794 | ) |  | $ | (55,038 | ) |  | $ | (17 | ) |  | $ | — |  |  | $ | (77,849 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (2,663 | ) |  | — |  |  | — |  |  | (2,663 | )
Proceeds from sale of fixed assets | — |  |  | 2,437 |  |  | — |  |  | — |  |  | 2,437 |
Investments in unconsolidated entities | — |  |  | (1,779 | ) |  | — |  |  | — |  |  | (1,779 | )
Proceeds from sale of marketable securities and unconsolidated entities | — |  |  | 1,142 |  |  | — |  |  | — |  |  | 1,142 |
Increases in restricted cash | — |  |  | (1,119 | ) |  | — |  |  | — |  |  | (1,119 | )
Decreases in restricted cash | — |  |  | 669 |  |  | — |  |  | — |  |  | 669 |
Advances to/from subsidiaries | (33,119 | ) |  | — |  |  | — |  |  | 33,119 |  |  | — |
Net cash (used in) provided by investing activities | (33,119 | ) |  | (1,313 | ) |  | — |  |  | 33,119 |  |  | (1,313 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (22,875 | ) |  | (4,051 | ) |  | — |  |  | — |  |  | (26,926 | )
Debt issuance costs | (413 | ) |  | — |  |  | — |  |  | — |  |  | (413 | )
Advances to/from subsidiaries | — |  |  | 38,312 |  |  | (1 | ) |  | (38,311 | ) |  | — |
Other financing activities | (201 | ) |  | — |  |  | — |  |  | — |  |  | (201 | )
Net cash (used in) provided by financing activities | (23,489 | ) |  | 34,261 |  |  | (1 | ) |  | (38,311 | ) |  | (27,540 | )
Decrease in cash and cash equivalents | (79,402 | ) |  | (22,090 | ) |  | (18 | ) |  | (5,192 | ) |  | (106,702 | )
Cash and cash equivalents at beginning of period | 232,226 |  |  | 21,543 |  |  | 1,006 |  |  | (3,192 | ) |  | 251,583 |
Cash and cash equivalents at end of period | $ | 152,824 |  |  | $ | (547 | ) |  | $ | 988 |  |  | $ | (8,384 | ) |  | $ | 144,881 |
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2014 |  |  |  |  |  |  |  |  |
Net cash used in operating activities | $ | (30,841 | ) |  | $ | (141,603 | ) |  | $ | (88 | ) |  | $ | — |  |  | $ | (172,532 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (2,934 | ) |  | — |  |  | — |  |  | (2,934 | )
Investments in unconsolidated entities | — |  |  | (1,144 | ) |  | — |  |  | — |  |  | (1,144 | )
Increases in restricted cash | (959 | ) |  | (486 | ) |  | — |  |  | — |  |  | (1,445 | )
Decreases in restricted cash | — |  |  | 294 |  |  | — |  |  | — |  |  | 294 |
Advances to/from subsidiaries | (114,977 | ) |  | — |  |  | — |  |  | 114,977 |  |  | — |
Net cash (used in) provided by investing activities | (115,936 | ) |  | (4,270 | ) |  | — |  |  | 114,977 |  |  | (5,229 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (7,038 | ) |  | (350 | ) |  | — |  |  | — |  |  | (7,388 | )
Debt issuance costs | (126 | ) |  | — |  |  | — |  |  | — |  |  | (126 | )
Advances to/from subsidiaries | — |  |  | 124,171 |  |  | 4 |  |  | (124,175 | ) |  | — |
Other financing activities | (199 | ) |  | — |  |  | — |  |  | — |  |  | (199 | )
Net cash (used in) provided by financing activities | (7,363 | ) |  | 123,821 |  |  | 4 |  |  | (124,175 | ) |  | (7,713 | )
Decrease in cash and cash equivalents | (154,140 | ) |  | (22,052 | ) |  | (84 | ) |  | (9,198 | ) |  | (185,474 | )
Cash and cash equivalents at beginning of period | 301,980 |  |  | 22,034 |  |  | 1,614 |  |  | (1,474 | ) |  | 324,154 |
Cash and cash equivalents at end of period | $ | 147,840 |  |  | $ | (18 | ) |  | $ | 1,530 |  |  | $ | (10,672 | ) |  | $ | 138,680 |

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- Definition The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References No definition available. + Details
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