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Supplemental Guarantor Information | 3 Months Ended
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Dec. 31, 2017
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 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 condensed 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. Unaudited Condensed Consolidating Balance Sheet Information December 31, 2017 (In thousands)
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 180,282 |  |  | $ | 3,047 |  |  | $ | 730 |  |  | $ | (6,247 | ) |  | $ | 177,812 |
Restricted cash | 10,941 |  |  | 1,141 |  |  | — |  |  | — |  |  | 12,082 |
Accounts receivable (net of allowance of $329) | — |  |  | 31,804 |  |  | — |  |  | — |  |  | 31,804 |
Income tax receivable | 88 |  |  | — |  |  | — |  |  | — |  |  | 88 |
Owned inventory | — |  |  | 1,626,721 |  |  | — |  |  | — |  |  | 1,626,721 |
Investments in unconsolidated entities | 773 |  |  | 3,504 |  |  | — |  |  | — |  |  | 4,277 |
Deferred tax assets, net | 200,101 |  |  | — |  |  | — |  |  | — |  |  | 200,101 |
Property and equipment, net | — |  |  | 18,742 |  |  | — |  |  | — |  |  | 18,742 |
Investments in subsidiaries | 710,741 |  |  | — |  |  | — |  |  | (710,741 | ) |  | — |
Intercompany | 796,658 |  |  | — |  |  | 2,331 |  |  | (798,989 | ) |  | — |
Other assets | 908 |  |  | 5,447 |  |  | — |  |  | — |  |  | 6,355 |
Total assets | $ | 1,900,492 |  |  | $ | 1,690,406 |  |  | $ | 3,061 |  |  | $ | (1,515,977 | ) |  | $ | 2,077,982 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Trade accounts payable | $ | — |  |  | $ | 97,535 |  |  | $ | — |  |  | $ | — |  |  | $ | 97,535 |
Other liabilities | 25,025 |  |  | 77,882 |  |  | 250 |  |  | — |  |  | 103,157 |
Intercompany | 2,331 |  |  | 802,905 |  |  | — |  |  | (805,236 | ) |  | — |
Total debt (net of premium and debt issuance costs) | 1,320,355 |  |  | 4,154 |  |  | — |  |  | — |  |  | 1,324,509 |
Total liabilities | 1,347,711 |  |  | 982,476 |  |  | 250 |  |  | (805,236 | ) |  | 1,525,201 |
Stockholders’ equity | 552,781 |  |  | 707,930 |  |  | 2,811 |  |  | (710,741 | ) |  | 552,781 |
Total liabilities and stockholders’ equity | $ | 1,900,492 |  |  | $ | 1,690,406 |  |  | $ | 3,061 |  |  | $ | (1,515,977 | ) |  | $ | 2,077,982 |
Beazer Homes USA, Inc. Unaudited 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 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. 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 December 31, 2017 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 372,489 |  |  | $ | 14 |  |  | $ | (14 | ) |  | $ | 372,489 |
Home construction and land sales expenses | 16,468 |  |  | 295,206 |  |  | — |  |  | (14 | ) |  | 311,660 |
Gross (loss) profit | (16,468 | ) |  | 77,283 |  |  | 14 |  |  | — |  |  | 60,829 |
Commissions | — |  |  | 14,356 |  |  | — |  |  | — |  |  | 14,356 |
General and administrative expenses | — |  |  | 37,244 |  |  | 41 |  |  | — |  |  | 37,285 |
Depreciation and amortization | — |  |  | 2,507 |  |  | — |  |  | — |  |  | 2,507 |
Operating (loss) income | (16,468 | ) |  | 23,176 |  |  | (27 | ) |  | — |  |  | 6,681 |
Equity in loss of unconsolidated entities | — |  |  | (101 | ) |  | — |  |  | — |  |  | (101 | )
Loss on extinguishment of debt | (25,904 | ) |  | — |  |  | — |  |  | — |  |  | (25,904 | )
Other (expense) income, net | (3,435 | ) |  | 296 |  |  | (6 | ) |  | — |  |  | (3,145 | )
(Loss) income before income taxes | (45,807 | ) |  | 23,371 |  |  | (33 | ) |  | — |  |  | (22,469 | )
(Benefit) expense from income taxes | (12,185 | ) |  | 120,303 |  |  | (12 | ) |  | — |  |  | 108,106 |
Equity in income of subsidiaries | (96,953 | ) |  | — |  |  | — |  |  | 96,953 |  |  | — |
Loss from continuing operations | (130,575 | ) |  | (96,932 | ) |  | (21 | ) |  | 96,953 |  |  | (130,575 | )
Loss from discontinued operations | — |  |  | (369 | ) |  | (3 | ) |  | — |  |  | (372 | )
Equity in loss of subsidiaries from discontinued operations | (372 | ) |  | — |  |  | — |  |  | 372 |  |  | — |
Net loss and comprehensive loss | $ | (130,947 | ) |  | $ | (97,301 | ) |  | $ | (24 | ) |  | $ | 97,325 |  |  | $ | (130,947 | )
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2016 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 339,241 |  |  | $ | 36 |  |  | $ | (36 | ) |  | $ | 339,241 |
Home construction and land sales expenses | 15,644 |  |  | 269,970 |  |  | — |  |  | (36 | ) |  | 285,578 |
Gross (loss) profit | (15,644 | ) |  | 69,271 |  |  | 36 |  |  | — |  |  | 53,663 |
Commissions | — |  |  | 13,323 |  |  | — |  |  | — |  |  | 13,323 |
General and administrative expenses | — |  |  | 36,365 |  |  | 23 |  |  | — |  |  | 36,388 |
Depreciation and amortization | — |  |  | 2,677 |  |  | — |  |  | — |  |  | 2,677 |
Operating (loss) income | (15,644 | ) |  | 16,906 |  |  | 13 |  |  | — |  |  | 1,275 |
Equity in income of unconsolidated entities | — |  |  | 22 |  |  | — |  |  | — |  |  | 22 |
Other (expense) income, net | (5,252 | ) |  | 57 |  |  | (1 | ) |  | — |  |  | (5,196 | )
(Loss) income before income taxes | (20,896 | ) |  | 16,985 |  |  | 12 |  |  | — |  |  | (3,899 | )
(Benefit) expense from income taxes | (7,569 | ) |  | 5,025 |  |  | 4 |  |  | — |  |  | (2,540 | )
Equity in income of subsidiaries | 11,968 |  |  | — |  |  | — |  |  | (11,968 | ) |  | — |
(Loss) income from continuing operations | (1,359 | ) |  | 11,960 |  |  | 8 |  |  | (11,968 | ) |  | (1,359 | )
Loss from discontinued operations | (70 | ) |  | — |  |  | — |  |  | — |  |  | (70 | )
Equity in loss of subsidiaries from discontinued operations | — |  |  | (67 | ) |  | (3 | ) |  | 70 |  |  | — |
Net (loss) income and comprehensive (loss) income | $ | (1,429 | ) |  | $ | 11,893 |  |  | $ | 5 |  |  | $ | (11,898 | ) |  | $ | (1,429 | )
Beazer Homes USA, Inc. Unaudited 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.
Three Months Ended December 31, 2017 |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 91,465 |  |  | $ | (193,721 | ) |  | $ | 32 |  |  | $ | — |  |  | $ | (102,224 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (3,702 | ) |  | — |  |  | — |  |  | (3,702 | )
Proceeds from sale of fixed assets | — |  |  | 84 |  |  | — |  |  | — |  |  | 84 |
Investments in unconsolidated entities | — |  |  | (421 | ) |  | — |  |  | — |  |  | (421 | )
Advances to/from subsidiaries | (187,451 | ) |  | — |  |  | (26 | ) |  | 187,477 |  |  | — |
Net cash used in investing activities | (187,451 | ) |  | (4,039 | ) |  | (26 | ) |  | 187,477 |  |  | (4,039 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (400,012 | ) |  | (1,469 | ) |  | — |  |  | — |  |  | (401,481 | )
Proceeds from issuance of new debt | 400,000 |  |  | — |  |  | — |  |  | — |  |  | 400,000 |
Debt issuance costs | (5,649 | ) |  | — |  |  | — |  |  | — |  |  | (5,649 | )
Advances to/from subsidiaries | — |  |  | 186,563 |  |  | — |  |  | (186,563 | ) |  | — |
Other financing activities | (1,322 | ) |  | — |  |  | — |  |  | — |  |  | (1,322 | )
Net cash (used in) provided by financing activities | (6,983 | ) |  | 185,094 |  |  | — |  |  | (186,563 | ) |  | (8,452 | )
(Decrease) increase in cash, cash equivalents and restricted cash | (102,969 | ) |  | (12,666 | ) |  | 6 |  |  | 914 |  |  | (114,715 | )
Cash, cash equivalents and restricted cash at beginning of period | 294,192 |  |  | 16,854 |  |  | 724 |  |  | (7,161 | ) |  | 304,609 |
Cash, cash equivalents and restricted cash at end of period | $ | 191,223 |  |  | $ | 4,188 |  |  | $ | 730 |  |  | $ | (6,247 | ) |  | $ | 189,894 |
| Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2016 |  |  |  |  |  |  |  |  |
Net cash used in operating activities | $ | (2,902 | ) |  | $ | (59,928 | ) |  | $ | (4 | ) |  | $ | — |  |  | $ | (62,834 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (2,874 | ) |  | — |  |  | — |  |  | (2,874 | )
Proceeds from sale of fixed assets | — |  |  | 46 |  |  | — |  |  | — |  |  | 46 |
Investments in unconsolidated entities | — |  |  | (1,397 | ) |  | — |  |  | — |  |  | (1,397 | )
Return of capital from unconsolidated entities | — |  |  | 1,621 |  |  | — |  |  | — |  |  | 1,621 |
Advances to/from subsidiaries | (50,314 | ) |  | — |  |  | — |  |  | 50,314 |  |  | — |
Net cash used in investing activities | (50,314 | ) |  | (2,604 | ) |  | — |  |  | 50,314 |  |  | (2,604 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | — |  |  | (2,525 | ) |  | — |  |  | — |  |  | (2,525 | )
Debt issuance costs | (340 | ) |  | — |  |  | — |  |  | — |  |  | (340 | )
Advances to/from subsidiaries | — |  |  | 52,224 |  |  | (2 | ) |  | (52,222 | ) |  | — |
Other financing activities | (387 | ) |  | — |  |  | — |  |  | — |  |  | (387 | )
Net cash (used in) provided by financing activities | (727 | ) |  | 49,699 |  |  | (2 | ) |  | (52,222 | ) |  | (3,252 | )
Decrease in cash, cash equivalents and restricted cash | (53,943 | ) |  | (12,833 | ) |  | (6 | ) |  | (1,908 | ) |  | (68,690 | )
Cash, cash equivalents and restricted cash at beginning of period | 228,513 |  |  | 18,404 |  |  | 859 |  |  | (4,500 | ) |  | 243,276 |
Cash, cash equivalents and restricted cash at end of period | $ | 174,570 |  |  | $ | 5,571 |  |  | $ | 853 |  |  | $ | (6,408 | ) |  | $ | 174,586 |

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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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