XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Supplemental Guarantor Information (Tables) | 6 Months Ended
--- | ---
Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Unaudited Consolidating Balance Sheet Information | Beazer Homes USA, Inc. Unaudited Consolidating Balance Sheet Information March 31, 2016 (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 135,124 |  |  | $ | 5,639 |  |  | $ | 940 |  |  | $ | (6,770 | ) |  | $ | 134,933 |
Restricted cash | 15,465 |  |  | 1,814 |  |  | — |  |  | — |  |  | 17,279 |
Accounts receivable (net of allowance of $872) | — |  |  | 55,600 |  |  | 3 |  |  | — |  |  | 55,603 |
Income tax receivable | 221 |  |  | — |  |  | — |  |  | — |  |  | 221 |
Owned inventory | — |  |  | 1,750,652 |  |  | — |  |  | — |  |  | 1,750,652 |
Investments in unconsolidated entities | 773 |  |  | 8,242 |  |  | — |  |  | — |  |  | 9,015 |
Deferred tax assets, net | 329,644 |  |  | — |  |  | — |  |  | — |  |  | 329,644 |
Property and equipment, net | — |  |  | 20,699 |  |  | — |  |  | — |  |  | 20,699 |
Investments in subsidiaries | 673,454 |  |  | — |  |  | — |  |  | (673,454 | ) |  | — |
Intercompany | 939,888 |  |  | — |  |  | 2,372 |  |  | (942,260 | ) |  | — |
Other assets | 12,666 |  |  | 3,025 |  |  | 4 |  |  | — |  |  | 15,695 |
Total assets | $ | 2,107,235 |  |  | $ | 1,845,671 |  |  | $ | 3,319 |  |  | $ | (1,622,484 | ) |  | $ | 2,333,741 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Trade accounts payable | $ | — |  |  | $ | 98,556 |  |  | $ | — |  |  | $ | — |  |  | $ | 98,556 |
Other liabilities | 28,178 |  |  | 113,400 |  |  | 450 |  |  | — |  |  | 142,028 |
Intercompany | 2,372 |  |  | 946,658 |  |  | — |  |  | (949,030 | ) |  | — |
Total debt (net of discounts of $5,272) | 1,443,133 |  |  | 16,472 |  |  | — |  |  | — |  |  | 1,459,605 |
Total liabilities | 1,473,683 |  |  | 1,175,086 |  |  | 450 |  |  | (949,030 | ) |  | 1,700,189 |
Stockholders’ equity | 633,552 |  |  | 670,585 |  |  | 2,869 |  |  | (673,454 | ) |  | 633,552 |
Total liabilities and stockholders’ equity | $ | 2,107,235 |  |  | $ | 1,845,671 |  |  | $ | 3,319 |  |  | $ | (1,622,484 | ) |  | $ | 2,333,741 |
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 |
Investments in 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 | ) |  | — |
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 |
Unaudited Consolidating Income Statement | Beazer Homes USA, Inc. Unaudited Consolidating Statements of Income (Loss) and Unaudited Comprehensive Income (Loss) (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2016 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 385,607 |  |  | $ | 28 |  |  | $ | (28 | ) |  | $ | 385,607 |
Home construction and land sales expenses | 16,073 |  |  | 308,171 |  |  | — |  |  | (28 | ) |  | 324,216 |
Inventory impairments and abandonments | 84 |  |  | 1,741 |  |  | — |  |  | — |  |  | 1,825 |
Gross (loss) profit | (16,157 | ) |  | 75,695 |  |  | 28 |  |  | — |  |  | 59,566 |
Commissions | — |  |  | 14,582 |  |  | — |  |  | — |  |  | 14,582 |
General and administrative expenses | — |  |  | 38,867 |  |  | 31 |  |  |  |  |  | 38,898 |
Depreciation and amortization | — |  |  | 3,056 |  |  | — |  |  | — |  |  | 3,056 |
Operating (loss) income | (16,157 | ) |  | 19,190 |  |  | (3 | ) |  | — |  |  | 3,030 |
Equity in income (loss) of unconsolidated entities | — |  |  | (51 | ) |  | — |  |  | — |  |  | (51 | )
Loss on extinguishment of debt | (1,631 | ) |  | — |  |  | — |  |  | — |  |  | (1,631 | )
Other (expense) income, net | (6,633 | ) |  | 76 |  |  | (1 | ) |  | — |  |  | (6,558 | )
(Loss) income before income taxes | (24,421 | ) |  | 19,215 |  |  | (4 | ) |  | — |  |  | (5,210 | )
(Benefit from) provision for income taxes | (11,917 | ) |  | 8,020 |  |  | (1 | ) |  | — |  |  | (3,898 | )
Equity in income of subsidiaries | 11,192 |  |  | — |  |  | — |  |  | (11,192 | ) |  | — |
Income (loss) from continuing operations | (1,312 | ) |  | 11,195 |  |  | (3 | ) |  | (11,192 | ) |  | (1,312 | )
Income (loss) from discontinued operations | — |  |  | 81 |  |  | (3 | ) |  | — |  |  | 78 |
Equity in income of subsidiaries from discontinued operations | 78 |  |  | — |  |  | — |  |  | (78 | ) |  | — |
Net income (loss) and comprehensive income (loss) | $ | (1,234 | ) |  | $ | 11,276 |  |  | $ | (6 | ) |  | $ | (11,270 | ) |  | $ | (1,234 | )
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2015 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 299,359 |  |  | $ | 33 |  |  | $ | (33 | ) |  | $ | 299,359 |
Home construction and land sales expenses | 9,782 |  |  | 235,697 |  |  | — |  |  | (33 | ) |  | 245,446 |
Gross (loss) profit | (9,782 | ) |  | 63,662 |  |  | 33 |  |  | — |  |  | 53,913 |
Commissions | — |  |  | 11,969 |  |  | — |  |  | — |  |  | 11,969 |
General and administrative expenses | — |  |  | 32,694 |  |  | 33 |  |  | — |  |  | 32,727 |
Depreciation and amortization | — |  |  | 2,781 |  |  | — |  |  | — |  |  | 2,781 |
Operating (loss) income | (9,782 | ) |  | 16,218 |  |  | — |  |  | — |  |  | 6,436 |
Equity in income of unconsolidated entities | — |  |  | 82 |  |  | — |  |  | — |  |  | 82 |
Other expense, net | (7,695 | ) |  | (777 | ) |  | (1 | ) |  | — |  |  | (8,473 | )
(Loss) income before income taxes | (17,477 | ) |  | 15,523 |  |  | (1 | ) |  | — |  |  | (1,955 | )
(Benefit from) provision for income taxes | (6,456 | ) |  | 6,561 |  |  | — |  |  | — |  |  | 105 |
Equity in income of subsidiaries | 8,961 |  |  | — |  |  | — |  |  | (8,961 | ) |  | — |
(Loss) income from continuing operations | (2,060 | ) |  | 8,962 |  |  | (1 | ) |  | (8,961 | ) |  | (2,060 | )
Income (loss) from discontinued operations | — |  |  | 68 |  |  | (4 | ) |  | — |  |  | 64 |
Equity in income of subsidiaries from discontinued operations | 64 |  |  | — |  |  | — |  |  | (64 | ) |  | — |
Net income (loss) | $ | (1,996 | ) |  | $ | 9,030 |  |  | $ | (5 | ) |  | $ | (9,025 | ) |  | $ | (1,996 | )
Change in unrealized loss related to available-for-sale securities | 1,070 |  |  | — |  |  | — |  |  | — |  |  | 1,070 |
Comprehensive income (loss) | $ | (926 | ) |  | $ | 9,030 |  |  | $ | (5 | ) |  | $ | (9,025 | ) |  | $ | (926 | )
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2016 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 730,056 |  |  | $ | 101 |  |  | $ | (101 | ) |  | $ | 730,056 |
Home construction and land sales expenses | 29,440 |  |  | 580,388 |  |  | — |  |  | (101 | ) |  | 609,727 |
Inventory impairments and abandonments | 84 |  |  | 3,097 |  |  | — |  |  | — |  |  | 3,181 |
Gross (loss) profit | (29,524 | ) |  | 146,571 |  |  | 101 |  |  | — |  |  | 117,148 |
Commissions | — |  |  | 28,356 |  |  | — |  |  | — |  |  | 28,356 |
General and administrative expenses | — |  |  | 70,509 |  |  | 58 |  |  | — |  |  | 70,567 |
Depreciation and amortization | — |  |  | 6,047 |  |  | — |  |  | — |  |  | 6,047 |
Operating (loss) income | (29,524 | ) |  | 41,659 |  |  | 43 |  |  | — |  |  | 12,178 |
Equity in income of unconsolidated entities | — |  |  | 9 |  |  | — |  |  | — |  |  | 9 |
Loss on extinguishment of debt | (2,459 | ) |  | — |  |  | — |  |  | — |  |  | (2,459 | )
Other (expense) income, net | (14,065 | ) |  | 944 |  |  | (2 | ) |  | — |  |  | (13,123 | )
(Loss) income before income taxes | (46,048 | ) |  | 42,612 |  |  | 41 |  |  | — |  |  | (3,395 | )
(Benefit from) provision for income taxes | (22,060 | ) |  | 18,762 |  |  | 16 |  |  | — |  |  | (3,282 | )
Equity in income of subsidiaries | 23,875 |  |  | — |  |  | — |  |  | (23,875 | ) |  | — |
(Loss) income from continuing operations | (113 | ) |  | 23,850 |  |  | 25 |  |  | (23,875 | ) |  | (113 | )
Loss from discontinued operations | — |  |  | (116 | ) |  | (6 | ) |  | — |  |  | (122 | )
Equity in loss of subsidiaries from discontinued operations | (122 | ) |  | — |  |  | — |  |  | 122 |  |  | — |
Net income (loss) and comprehensive income (loss) | $ | (235 | ) |  | $ | 23,734 |  |  | $ | 19 |  |  | $ | (23,753 | ) |  | $ | (235 | )
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2015 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 565,123 |  |  | $ | 131 |  |  | $ | (131 | ) |  | $ | 565,123 |
Home construction and land sales expenses | 17,976 |  |  | 458,147 |  |  | — |  |  | (131 | ) |  | 475,992 |
Gross (loss) profit | (17,976 | ) |  | 106,976 |  |  | 131 |  |  | — |  |  | 89,131 |
Commissions | — |  |  | 22,895 |  |  | — |  |  | — |  |  | 22,895 |
General and administrative expenses | — |  |  | 64,108 |  |  | 60 |  |  | — |  |  | 64,168 |
Depreciation and amortization | — |  |  | 5,122 |  |  | — |  |  | — |  |  | 5,122 |
Operating (loss) income | (17,976 | ) |  | 14,851 |  |  | 71 |  |  | — |  |  | (3,054 | )
Equity in income of unconsolidated entities | — |  |  | 224 |  |  | — |  |  | — |  |  | 224 |
Other (expense) income, net | (17,442 | ) |  | (463 | ) |  | (2 | ) |  | — |  |  | (17,907 | )
(Loss) income before income taxes | (35,418 | ) |  | 14,612 |  |  | 69 |  |  | — |  |  | (20,737 | )
(Benefit from) provision for income taxes | (13,083 | ) |  | 12,467 |  |  | 25 |  |  | — |  |  | (591 | )
Equity in income of subsidiaries | 2,189 |  |  | — |  |  | — |  |  | (2,189 | ) |  | — |
(Loss) income from continuing operations | (20,146 | ) |  | 2,145 |  |  | 44 |  |  | (2,189 | ) |  | (20,146 | )
Loss from discontinued operations | — |  |  | (4,183 | ) |  | (7 | ) |  | — |  |  | (4,190 | )
Equity in loss of subsidiaries and discontinued operations | (4,190 | ) |  | — |  |  | — |  |  | 4,190 |  |  | — |
Net income (loss) | $ | (24,336 | ) |  | $ | (2,038 | ) |  | $ | 37 |  |  | $ | 2,001 |  |  | $ | (24,336 | )
Change in unrealized loss related to available-for-sale securities | 1,276 |  |  | — |  |  | — |  |  | — |  |  | 1,276 |
Comprehensive income (loss) | $ | (23,060 | ) |  | $ | (2,038 | ) |  | $ | 37 |  |  | $ | 2,001 |  |  | $ | (23,060 | )
Unaudited Consolidating Statements of Cash Flow | 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.
Six Months Ended March 31, 2016 |  |  |  |  |  |  |  |  |
Net cash used in operating activities | $ | (32,839 | ) |  | $ | (26,968 | ) |  | $ | (78 | ) |  | $ | — |  |  | $ | (59,885 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (6,017 | ) |  | — |  |  | — |  |  | (6,017 | )
Proceeds from sale of fixed assets | — |  |  | 2,471 |  |  | — |  |  | — |  |  | 2,471 |
Investments in unconsolidated entities | — |  |  | (2,787 | ) |  | — |  |  | — |  |  | (2,787 | )
Proceeds from sale of unconsolidated entities | — |  |  | 1,141 |  |  | — |  |  | — |  |  | 1,141 |
Increases in restricted cash | (656 | ) |  | (1,114 | ) |  | — |  |  | — |  |  | (1,770 | )
Decreases in restricted cash | 22,368 |  |  | 1,024 |  |  | — |  |  | — |  |  | 23,392 |
Advances to/from subsidiaries | (17,322 | ) |  | — |  |  | — |  |  | 17,322 |  |  | — |
Net cash (used in) provided by investing activities | 4,390 |  |  | (5,282 | ) |  | — |  |  | 17,322 |  |  | 16,430 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (203,679 | ) |  | (4,542 | ) |  | — |  |  | — |  |  | (208,221 | )
Proceeds from issuance of new debt | 137,900 |  |  | — |  |  | — |  |  | — |  |  | 137,900 |
Repayment of borrowings from credit facility | (25,000 | ) |  | — |  |  | — |  |  | — |  |  | (25,000 | )
Borrowings from credit facility | 25,000 |  |  | — |  |  | — |  |  | — |  |  | 25,000 |
Debt issuance costs | (2,451 | ) |  | — |  |  | — |  |  | — |  |  | (2,451 | )
Advances to/from subsidiaries | — |  |  | 20,888 |  |  | 12 |  |  | (20,900 | ) |  | — |
Other financing activities | (423 | ) |  | — |  |  | — |  |  | — |  |  | (423 | )
Net cash (used in) provided by financing activities | (68,653 | ) |  | 16,346 |  |  | 12 |  |  | (20,900 | ) |  | (73,195 | )
Decrease in cash and cash equivalents | (97,102 | ) |  | (15,904 | ) |  | (66 | ) |  | (3,578 | ) |  | (116,650 | )
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 | $ | 135,124 |  |  | $ | 5,639 |  |  | $ | 940 |  |  | $ | (6,770 | ) |  | $ | 134,933 |
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2015 |  |  |  |  |  |  |  |  |
Net cash used in operating activities | $ | (31,274 | ) |  | $ | (171,497 | ) |  | $ | (145 | ) |  | $ | — |  |  | $ | (202,916 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (7,478 | ) |  | — |  |  | — |  |  | (7,478 | )
Investments in unconsolidated entities | — |  |  | (1,670 | ) |  | — |  |  | — |  |  | (1,670 | )
Proceeds from sale of marketable securities and unconsolidated entities | — |  |  | 24,211 |  |  | — |  |  | — |  |  | 24,211 |
Increases in restricted cash | (1,319 | ) |  | (1,168 | ) |  | — |  |  | — |  |  | (2,487 | )
Decreases in restricted cash | 21,601 |  |  | 658 |  |  | — |  |  | — |  |  | 22,259 |
Advances to/from subsidiaries | (145,846 | ) |  | — |  |  | — |  |  | 145,846 |  |  | — |
Net cash (used in) provided by investing activities | (125,564 | ) |  | 14,553 |  |  | — |  |  | 145,846 |  |  | 34,835 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (8,702 | ) |  | (812 | ) |  | — |  |  | — |  |  | (9,514 | )
Debt issuance costs | (126 | ) |  | — |  |  | — |  |  | — |  |  | (126 | )
Dividends paid | 500 |  |  | — |  |  | (500 | ) |  | — |  |  | — |
Advances to/from subsidiaries | — |  |  | 147,759 |  |  | 12 |  |  | (147,771 | ) |  | — |
Other financing activities | (172 | ) |  | — |  |  | — |  |  | — |  |  | (172 | )
Net cash (used in) provided by financing activities | (8,500 | ) |  | 146,947 |  |  | (488 | ) |  | (147,771 | ) |  | (9,812 | )
Decrease in cash and cash equivalents | (165,338 | ) |  | (9,997 | ) |  | (633 | ) |  | (1,925 | ) |  | (177,893 | )
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 | $ | 136,642 |  |  | $ | 12,037 |  |  | $ | 981 |  |  | $ | (3,399 | ) |  | $ | 146,261 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration