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Supplemental Guarantor Information | 12 Months Ended
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Sep. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Supplemental Guarantor Information | Supplemental Guarantor Information As discussed in Note 8, our obligations to pay principal, premium, if any, and interest under certain debt 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. The guarantees are full and unconditional and the guarantor subsidiaries are 100% owned by Beazer Homes USA, Inc. The following financial information presents the line items of our consolidated financial statements separated by amounts related to the parent issuer, guarantor subsidiaries, non-guarantor subsidiaries and consolidating adjustments as of or for the periods presented. Beazer Homes USA, Inc. Condensed Consolidating Balance Sheet Information September 30, 2017 (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 283,191 |  |  | $ | 15,393 |  |  | $ | 724 |  |  | $ | (7,161 | ) |  | $ | 292,147 |
Restricted cash | 11,001 |  |  | 1,461 |  |  | — |  |  | — |  |  | 12,462 |
Accounts receivable (net of allowance of $330) | — |  |  | 36,322 |  |  | 1 |  |  | — |  |  | 36,323 |
Income tax receivable | 88 |  |  | — |  |  | — |  |  | — |  |  | 88 |
Owned inventory | — |  |  | 1,542,807 |  |  | — |  |  | — |  |  | 1,542,807 |
Investments in unconsolidated entities | 773 |  |  | 3,221 |  |  | — |  |  | — |  |  | 3,994 |
Deferred tax assets, net | 307,896 |  |  | — |  |  | — |  |  | — |  |  | 307,896 |
Property and equipment, net | — |  |  | 17,566 |  |  | — |  |  | — |  |  | 17,566 |
Investments in subsidiaries | 808,067 |  |  | — |  |  | — |  |  | (808,067 | ) |  | — |
Intercompany | 606,168 |  |  | — |  |  | 2,337 |  |  | (608,505 | ) |  | — |
Other assets | 599 |  |  | 7,098 |  |  | 15 |  |  | — |  |  | 7,712 |
Total assets | $ | 2,017,783 |  |  | $ | 1,623,868 |  |  | $ | 3,077 |  |  | $ | (1,423,733 | ) |  | $ | 2,220,995 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Trade accounts payable | $ | — |  |  | $ | 103,484 |  |  | $ | — |  |  | $ | — |  |  | $ | 103,484 |
Other liabilities | 11,229 |  |  | 96,189 |  |  | 241 |  |  | — |  |  | 107,659 |
Intercompany | 2,337 |  |  | 613,329 |  |  | — |  |  | (615,666 | ) |  | — |
Total debt (net of premium/discount and debt issuance costs) | 1,321,777 |  |  | 5,635 |  |  | — |  |  | — |  |  | 1,327,412 |
Total liabilities | 1,335,343 |  |  | 818,637 |  |  | 241 |  |  | (615,666 | ) |  | 1,538,555 |
Stockholders’ equity | 682,440 |  |  | 805,231 |  |  | 2,836 |  |  | (808,067 | ) |  | 682,440 |
Total liabilities and stockholders’ equity | $ | 2,017,783 |  |  | $ | 1,623,868 |  |  | $ | 3,077 |  |  | $ | (1,423,733 | ) |  | $ | 2,220,995 |
Beazer Homes USA, Inc. Condensed Consolidating Balance Sheet Information September 30, 2016 (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 215,646 |  |  | $ | 16,866 |  |  | $ | 859 |  |  | $ | (4,500 | ) |  | $ | 228,871 |
Restricted cash | 12,867 |  |  | 1,538 |  |  | — |  |  | — |  |  | 14,405 |
Accounts receivable (net of allowance of $354) | — |  |  | 53,225 |  |  | 1 |  |  | — |  |  | 53,226 |
Income tax receivable | 292 |  |  | — |  |  | — |  |  | — |  |  | 292 |
Owned inventory | — |  |  | 1,569,279 |  |  | — |  |  | — |  |  | 1,569,279 |
Investments in unconsolidated entities | 773 |  |  | 9,697 |  |  | — |  |  | — |  |  | 10,470 |
Deferred tax assets, net | 309,955 |  |  | — |  |  | — |  |  | — |  |  | 309,955 |
Property and equipment, net | — |  |  | 19,138 |  |  | — |  |  | — |  |  | 19,138 |
Investments in subsidiaries | 701,931 |  |  | — |  |  | — |  |  | (701,931 | ) |  | — |
Intercompany | 734,766 |  |  | — |  |  | 2,574 |  |  | (737,340 | ) |  | — |
Other assets | 577 |  |  | 6,930 |  |  | 15 |  |  | — |  |  | 7,522 |
Total assets | $ | 1,976,807 |  |  | $ | 1,676,673 |  |  | $ | 3,449 |  |  | $ | (1,443,771 | ) |  | $ | 2,213,158 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Trade accounts payable | $ | — |  |  | $ | 104,174 |  |  | $ | — |  |  | $ | — |  |  | $ | 104,174 |
Other liabilities | 11,315 |  |  | 122,561 |  |  | 377 |  |  | — |  |  | 134,253 |
Intercompany | 2,574 |  |  | 739,266 |  |  | — |  |  | (741,840 | ) |  | — |
Total debt (net of discount and debt issuance costs) | 1,320,065 |  |  | 11,813 |  |  | — |  |  | — |  |  | 1,331,878 |
Total liabilities | 1,333,954 |  |  | 977,814 |  |  | 377 |  |  | (741,840 | ) |  | 1,570,305 |
Stockholders’ equity | 642,853 |  |  | 698,859 |  |  | 3,072 |  |  | (701,931 | ) |  | 642,853 |
Total liabilities and stockholders’ equity | $ | 1,976,807 |  |  | $ | 1,676,673 |  |  | $ | 3,449 |  |  | $ | (1,443,771 | ) |  | $ | 2,213,158 |
Beazer Homes USA, Inc. Consolidating Statements of Income and Comprehensive Income Information (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2017 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 1,916,278 |  |  | $ | 107 |  |  | $ | (107 | ) |  | $ | 1,916,278 |
Home construction and land sales expenses | 88,764 |  |  | 1,512,312 |  |  | — |  |  | (107 | ) |  | 1,600,969 |
Inventory impairments and abandonments | 56 |  |  | 2,389 |  |  | — |  |  | — |  |  | 2,445 |
Gross (loss) profit | (88,820 | ) |  | 401,577 |  |  | 107 |  |  | — |  |  | 312,864 |
Commissions | — |  |  | 74,811 |  |  | — |  |  | — |  |  | 74,811 |
General and administrative expenses | — |  |  | 161,804 |  |  | 102 |  |  | — |  |  | 161,906 |
Depreciation and amortization | — |  |  | 14,009 |  |  | — |  |  | — |  |  | 14,009 |
Operating (loss) income | (88,820 | ) |  | 150,953 |  |  | 5 |  |  | — |  |  | 62,138 |
Equity in income of unconsolidated entities | — |  |  | 371 |  |  | — |  |  | — |  |  | 371 |
Loss on extinguishment of debt | (12,630 | ) |  | — |  |  | — |  |  | — |  |  | (12,630 | )
Other (expense) income, net | (15,635 | ) |  | 429 |  |  | (24 | ) |  | — |  |  | (15,230 | )
(Loss) income before income taxes | (117,085 | ) |  | 151,753 |  |  | (19 | ) |  | — |  |  | 34,649 |
(Benefit) expense from income taxes | (42,564 | ) |  | 45,266 |  |  | (6 | ) |  | — |  |  | 2,696 |
Equity in income of subsidiaries | 106,474 |  |  | — |  |  | — |  |  | (106,474 | ) |  | — |
Income (loss) from continuing operations | 31,953 |  |  | 106,487 |  |  | (13 | ) |  | (106,474 | ) |  | 31,953 |
Loss from discontinued operations, net of tax | — |  |  | (115 | ) |  | (25 | ) |  | — |  |  | (140 | )
Equity in loss of subsidiaries | (140 | ) |  | — |  |  | — |  |  | 140 |  |  | — |
Net income and comprehensive income | $ | 31,813 |  |  | $ | 106,372 |  |  | $ | (38 | ) |  | $ | (106,334 | ) |  | $ | 31,813 |
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2016 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 1,822,114 |  |  | $ | 156 |  |  | $ | (156 | ) |  | $ | 1,822,114 |
Home construction and land sales expenses | 77,941 |  |  | 1,431,840 |  |  | — |  |  | (156 | ) |  | 1,509,625 |
Inventory impairments and abandonments | 710 |  |  | 14,572 |  |  | — |  |  | — |  |  | 15,282 |
Gross (loss) profit | (78,651 | ) |  | 375,702 |  |  | 156 |  |  | — |  |  | 297,207 |
Commissions | — |  |  | 70,460 |  |  | — |  |  | — |  |  | 70,460 |
General and administrative expenses | — |  |  | 153,524 |  |  | 104 |  |  | — |  |  | 153,628 |
Depreciation and amortization | — |  |  | 13,794 |  |  | — |  |  | — |  |  | 13,794 |
Operating (loss) income | (78,651 | ) |  | 137,924 |  |  | 52 |  |  | — |  |  | 59,325 |
Equity in income of unconsolidated entities | — |  |  | 131 |  |  | — |  |  | — |  |  | 131 |
Loss on extinguishment of debt | (13,423 | ) |  | — |  |  | — |  |  | — |  |  | (13,423 | )
Other (expense) income, net | (25,388 | ) |  | 1,061 |  |  | (3 | ) |  | — |  |  | (24,330 | )
(Loss) income before income taxes | (117,462 | ) |  | 139,116 |  |  | 49 |  |  | — |  |  | 21,703 |
(Benefit) expense from income taxes | (70,126 | ) |  | 86,605 |  |  | 19 |  |  | — |  |  | 16,498 |
Equity in income of subsidiaries | 52,541 |  |  | — |  |  | — |  |  | (52,541 | ) |  | — |
Income from continuing operations | 5,205 |  |  | 52,511 |  |  | 30 |  |  | (52,541 | ) |  | 5,205 |
Loss from discontinued operations, net of tax | — |  |  | (503 | ) |  | (9 | ) |  | — |  |  | (512 | )
Equity in loss of subsidiaries | (512 | ) |  | — |  |  | — |  |  | 512 |  |  | — |
Net income and comprehensive income | $ | 4,693 |  |  | $ | 52,008 |  |  | $ | 21 |  |  | $ | (52,029 | ) |  | $ | 4,693 |
Beazer Homes USA, Inc. Consolidating Statements of Income and Comprehensive Income Information (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2015 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 1,627,413 |  |  | $ | 198 |  |  | $ | (198 | ) |  | $ | 1,627,413 |
Home construction and land sales expenses | 55,006 |  |  | 1,297,052 |  |  | — |  |  | (198 | ) |  | 1,351,860 |
Inventory impairments and abandonments | — |  |  | 3,109 |  |  | — |  |  | — |  |  | 3,109 |
Gross (loss) profit | (55,006 | ) |  | 327,252 |  |  | 198 |  |  | — |  |  | 272,444 |
Commissions | — |  |  | 65,023 |  |  | — |  |  | — |  |  | 65,023 |
General and administrative expenses | — |  |  | 142,391 |  |  | 105 |  |  | — |  |  | 142,496 |
Depreciation and amortization | — |  |  | 13,338 |  |  | — |  |  | — |  |  | 13,338 |
Operating (loss) income | (55,006 | ) |  | 106,500 |  |  | 93 |  |  | — |  |  | 51,587 |
Equity in income of unconsolidated entities | — |  |  | 536 |  |  | — |  |  | — |  |  | 536 |
Loss on extinguishment of debt | (80 | ) |  | — |  |  | — |  |  | — |  |  | (80 | )
Other expense, net | (29,752 | ) |  | (258 | ) |  | (3 | ) |  | — |  |  | (30,013 | )
(Loss) income before income taxes | (84,838 | ) |  | 106,778 |  |  | 90 |  |  | — |  |  | 22,030 |
(Benefit) expense from income taxes | (32,275 | ) |  | (292,326 | ) |  | 32 |  |  | — |  |  | (324,569 | )
Equity in income of subsidiaries | 399,162 |  |  | — |  |  | — |  |  | (399,162 | ) |  | — |
Income from continuing operations | 346,599 |  |  | 399,104 |  |  | 58 |  |  | (399,162 | ) |  | 346,599 |
Loss from discontinued operations, net of tax | — |  |  | (2,495 | ) |  | (10 | ) |  | — |  |  | (2,505 | )
Equity in loss of subsidiaries | (2,505 | ) |  | — |  |  | — |  |  | 2,505 |  |  | — |
Net income | $ | 344,094 |  |  | $ | 396,609 |  |  | $ | 48 |  |  | $ | (396,657 | ) |  | $ | 344,094 |
Change in unrealized loss related to available-for-sale securities | 1,276 |  |  | — |  |  | — |  |  | — |  |  | 1,276 |
Comprehensive income | $ | 345,370 |  |  | $ | 396,609 |  |  | $ | 48 |  |  | $ | (396,657 | ) |  | $ | 345,370 |
Beazer Homes USA, Inc. Condensed Consolidating Statements of Cash Flow Information (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2017 |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities | $ | (74,046 | ) |  | $ | 170,129 |  |  | $ | (174 | ) |  | $ | — |  |  | $ | 95,909 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (12,440 | ) |  | — |  |  | — |  |  | (12,440 | )
Proceeds from sale of fixed assets | — |  |  | 297 |  |  | — |  |  | — |  |  | 297 |
Investments in unconsolidated entities | — |  |  | (3,261 | ) |  | — |  |  | — |  |  | (3,261 | )
Return of capital from unconsolidated entities | — |  |  | 1,621 |  |  | — |  |  | — |  |  | 1,621 |
Advances to/from subsidiaries | 148,081 |  |  | — |  |  | 39 |  |  | (148,120 | ) |  | — |
Net cash provided by (used in) investing activities | 148,081 |  |  | (13,783 | ) |  | 39 |  |  | (148,120 | ) |  | (13,783 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (253,046 | ) |  | (12,437 | ) |  | — |  |  | — |  |  | (265,483 | )
Proceeds from issuance of new debt | 250,000 |  |  | — |  |  | — |  |  | — |  |  | 250,000 |
Repayment of borrowing from credit facility | (25,000 | ) |  | — |  |  | — |  |  | — |  |  | (25,000 | )
Borrowing from credit facility | 25,000 |  |  | — |  |  | — |  |  | — |  |  | 25,000 |
Debt issuance costs | (4,919 | ) |  | — |  |  | — |  |  | — |  |  | (4,919 | )
Other financing activities | (391 | ) |  | — |  |  | — |  |  | — |  |  | (391 | )
Advances to/from subsidiaries |  |  |  | (145,459 | ) |  |  |  |  | 145,459 |  |  | — |
Net cash (used in) provided by financing activities | (8,356 | ) |  | (157,896 | ) |  | — |  |  | 145,459 |  |  | (20,793 | )
Increase (decrease) in cash and cash equivalents | 65,679 |  |  | (1,550 | ) |  | (135 | ) |  | (2,661 | ) |  | 61,333 |
Cash, cash equivalents and restricted cash at beginning of period | 228,512 |  |  | 18,405 |  |  | 859 |  |  | (4,500 | ) |  | 243,276 |
Cash, cash equivalents and restricted cash at end of period | $ | 294,191 |  |  | $ | 16,855 |  |  | $ | 724 |  |  | $ | (7,161 | ) |  | $ | 304,609 |
Beazer Homes USA, Inc. Condensed Consolidating Statements of Cash Flow Information (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2016 |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities | $ | (56,218 | ) |  | $ | 219,401 |  |  | $ | (158 | ) |  | $ | — |  |  | $ | 163,025 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (12,219 | ) |  | — |  |  | — |  |  | (12,219 | )
Proceeds from sale of fixed assets | — |  |  | 2,624 |  |  | — |  |  | — |  |  | 2,624 |
Investments in unconsolidated entities | — |  |  | (4,241 | ) |  | — |  |  | — |  |  | (4,241 | )
Return of capital from unconsolidated entities | — |  |  | 1,142 |  |  | — |  |  | — |  |  | 1,142 |
Advances to/from subsidiaries | 203,690 |  |  | — |  |  | 11 |  |  | (203,701 | ) |  | — |
Net cash provided by (used in) investing activities | 203,690 |  |  | (12,694 | ) |  | 11 |  |  | (203,701 | ) |  | (12,694 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (819,044 | ) |  | (9,177 | ) |  | — |  |  | — |  |  | (828,221 | )
Proceeds from issuance of new debt | 642,150 |  |  | — |  |  | — |  |  | — |  |  | 642,150 |
Repayment of borrowing from credit facility | (90,000 | ) |  | — |  |  | — |  |  | — |  |  | (90,000 | )
Borrowing from credit facility | 90,000 |  |  | — |  |  | — |  |  | — |  |  | 90,000 |
Debt issuance costs | (11,246 | ) |  | — |  |  | — |  |  | — |  |  | (11,246 | )
Other financing activities | (222 | ) |  | — |  |  | — |  |  | — |  |  | (222 | )
Advances to/from subsidiaries | — |  |  | (202,393 | ) |  | — |  |  | 202,393 |  |  | — |
Net cash used in financing activities | (188,362 | ) |  | (211,570 | ) |  | — |  |  | 202,393 |  |  | (197,539 | )
Decrease in cash and cash equivalents | (40,890 | ) |  | (4,863 | ) |  | (147 | ) |  | (1,308 | ) |  | (47,208 | )
Cash, cash equivalents and restricted cash at beginning of period | 269,402 |  |  | 23,268 |  |  | 1,006 |  |  | (3,192 | ) |  | 290,484 |
Cash, cash equivalents and restricted cash at end of period | $ | 228,512 |  |  | $ | 18,405 |  |  | $ | 859 |  |  | $ | (4,500 | ) |  | $ | 243,276 |
Fiscal Year Ended September 30, 2015 |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities | $ | (388,584 | ) |  | $ | 307,668 |  |  | $ | (133 | ) |  | $ | — |  |  | $ | (81,049 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (15,964 | ) |  | — |  |  | — |  |  | (15,964 | )
Investments in unconsolidated entities | — |  |  | (4,944 | ) |  | — |  |  | — |  |  | (4,944 | )
Return of capital from unconsolidated entities | — |  |  | 24,245 |  |  | — |  |  | — |  |  | 24,245 |
Advances to/from subsidiaries | 302,569 |  |  | — |  |  | 25 |  |  | (302,594 | ) |  | — |
Net cash provided by investing activities | 302,569 |  |  | 3,337 |  |  | 25 |  |  | (302,594 | ) |  | 3,337 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (8,703 | ) |  | (9,870 | ) |  | — |  |  | — |  |  | (18,573 | )
Debt issuance costs | (126 | ) |  | — |  |  | — |  |  | — |  |  | (126 | )
Borrowing from credit facility | 75,000 |  |  | — |  |  | — |  |  | — |  |  | 75,000 |
Repayment of borrowing from credit facility | (75,000 | ) |  | — |  |  | — |  |  | — |  |  | (75,000 | )
Other financing activities | (200 | ) |  | — |  |  | — |  |  | — |  |  | (200 | )
Dividends paid | 500 |  |  | — |  |  | (500 | ) |  | — |  |  | — |
Advances to/from subsidiaries | 21 |  |  | (300,897 | ) |  | — |  |  | 300,876 |  |  | — |
Net cash used in financing activities | (8,508 | ) |  | (310,767 | ) |  | (500 | ) |  | 300,876 |  |  | (18,899 | )
(Decrease) increase in cash and cash equivalents | (94,523 | ) |  | 238 |  |  | (608 | ) |  | (1,718 | ) |  | (96,611 | )
Cash, cash equivalents and restricted cash at beginning of period | 363,925 |  |  | 23,030 |  |  | 1,614 |  |  | (1,474 | ) |  | 387,095 |
Cash, cash equivalents and restricted cash at end of period | $ | 269,402 |  |  | $ | 23,268 |  |  | $ | 1,006 |  |  | $ | (3,192 | ) |  | $ | 290,484 |

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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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