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Supplemental Guarantor Information (Tables) | 6 Months Ended
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Mar. 31, 2019
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Unaudited Condensed Consolidating Balance Sheet Information | Beazer Homes USA, Inc. Condensed Consolidating Balance Sheet Information March 31, 2019 (Unaudited)
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 80,363 |  |  | $ | 6,071 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 86,441 |
Restricted cash | 11,097 |  |  | 1,100 |  |  | — |  |  | — |  |  | 12,197 |
Accounts receivable (net of allowance of $373) | — |  |  | 18,481 |  |  | 5 |  |  | — |  |  | 18,486 |
Owned inventory | — |  |  | 1,634,399 |  |  | — |  |  | — |  |  | 1,634,399 |
Investments in unconsolidated entities | 773 |  |  | 2,953 |  |  | — |  |  | — |  |  | 3,726 |
Deferred tax assets, net | 256,347 |  |  | — |  |  | — |  |  | — |  |  | 256,347 |
Property and equipment, net | — |  |  | 26,662 |  |  | — |  |  | — |  |  | 26,662 |
Investments in subsidiaries | 636,795 |  |  | — |  |  | — |  |  | (636,795 | ) |  | — |
Intercompany | 859,697 |  |  | — |  |  | 1,688 |  |  | (861,385 | ) |  | — |
Goodwill | — |  |  | 10,605 |  |  | — |  |  | — |  |  | 10,605 |
Other assets | 870 |  |  | 5,604 |  |  | 4 |  |  | — |  |  | 6,478 |
Total assets | $ | 1,845,942 |  |  | $ | 1,705,875 |  |  | $ | 1,704 |  |  | $ | (1,498,180 | ) |  | $ | 2,055,341 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Trade accounts payable | $ | — |  |  | $ | 125,403 |  |  | $ | — |  |  | $ | — |  |  | $ | 125,403 |
Other liabilities | 15,958 |  |  | 83,043 |  |  | 19 |  |  | — |  |  | 99,020 |
Intercompany | 1,688 |  |  | 859,697 |  |  | — |  |  | (861,385 | ) |  | — |
Total debt (net of premium and debt issuance costs) | 1,299,138 |  |  | 2,622 |  |  | — |  |  | — |  |  | 1,301,760 |
Total liabilities | 1,316,784 |  |  | 1,070,765 |  |  | 19 |  |  | (861,385 | ) |  | 1,526,183 |
Stockholders’ equity | 529,158 |  |  | 635,110 |  |  | 1,685 |  |  | (636,795 | ) |  | 529,158 |
Total liabilities and stockholders’ equity | $ | 1,845,942 |  |  | $ | 1,705,875 |  |  | $ | 1,704 |  |  | $ | (1,498,180 | ) |  | $ | 2,055,341 |
Beazer Homes USA, Inc. Condensed Consolidating Balance Sheet Information September 30, 2018 (Unaudited)
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 93,875 |  |  | $ | 45,355 |  |  | $ | 575 |  |  | $ | — |  |  | $ | 139,805 |
Restricted cash | 10,921 |  |  | 2,522 |  |  | — |  |  | — |  |  | 13,443 |
Accounts receivable (net of allowance of $378) | — |  |  | 24,647 |  |  | — |  |  | — |  |  | 24,647 |
Owned inventory | — |  |  | 1,692,284 |  |  | — |  |  | — |  |  | 1,692,284 |
Investments in unconsolidated entities | 773 |  |  | 3,262 |  |  | — |  |  | — |  |  | 4,035 |
Deferred tax assets, net | 213,955 |  |  | — |  |  | — |  |  | — |  |  | 213,955 |
Property and equipment, net | — |  |  | 20,843 |  |  | — |  |  | — |  |  | 20,843 |
Investments in subsidiaries | 645,086 |  |  | — |  |  | — |  |  | (645,086 | ) |  | — |
Intercompany | 922,525 |  |  | — |  |  | 2,304 |  |  | (924,829 | ) |  | — |
Goodwill | — |  |  | 9,751 |  |  | — |  |  | — |  |  | 9,751 |
Other assets | 694 |  |  | 8,626 |  |  | 19 |  |  | — |  |  | 9,339 |
Total assets | $ | 1,887,829 |  |  | $ | 1,807,290 |  |  | $ | 2,898 |  |  | $ | (1,569,915 | ) |  | $ | 2,128,102 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Trade accounts payable | $ | — |  |  | $ | 126,432 |  |  | $ | — |  |  | $ | — |  |  | $ | 126,432 |
Other liabilities | 14,357 |  |  | 111,906 |  |  | 126 |  |  | — |  |  | 126,389 |
Intercompany | 2,304 |  |  | 922,525 |  |  | — |  |  | (924,829 | ) |  | — |
Total debt (net of premium and debt issuance costs) | 1,227,141 |  |  | 4,113 |  |  | — |  |  | — |  |  | 1,231,254 |
Total liabilities | 1,243,802 |  |  | 1,164,976 |  |  | 126 |  |  | (924,829 | ) |  | 1,484,075 |
Stockholders’ equity | 644,027 |  |  | 642,314 |  |  | 2,772 |  |  | (645,086 | ) |  | 644,027 |
Total liabilities and stockholders’ equity | $ | 1,887,829 |  |  | $ | 1,807,290 |  |  | $ | 2,898 |  |  | $ | (1,569,915 | ) |  | $ | 2,128,102 |
Unaudited Condensed Consolidating Statements of Income (Loss) and Unaudited Comprehensive Income (Loss) | Beazer Homes USA, Inc. Condensed Consolidating Statements of Operations (Unaudited)
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2019 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 421,260 |  |  | $ | — |  |  | $ | — |  |  | $ | 421,260 |
Home construction and land sales expenses | 18,544 |  |  | 337,785 |  |  | — |  |  | — |  |  | 356,329 |
Inventory impairments and abandonments | 13,792 |  |  | 133,819 |  |  | — |  |  | — |  |  | 147,611 |
Gross loss | (32,336 | ) |  | (50,344 | ) |  | — |  |  | — |  |  | (82,680 | )
Commissions | — |  |  | 15,998 |  |  | — |  |  | — |  |  | 15,998 |
General and administrative expenses | — |  |  | 37,372 |  |  | — |  |  | — |  |  | 37,372 |
Depreciation and amortization | — |  |  | 2,900 |  |  | — |  |  | — |  |  | 2,900 |
Operating loss | (32,336 | ) |  | (106,614 | ) |  | — |  |  | — |  |  | (138,950 | )
Equity in income of unconsolidated entities | — |  |  | 81 |  |  | — |  |  | — |  |  | 81 |
Gain on extinguishment of debt | 216 |  |  | — |  |  | — |  |  | — |  |  | 216 |
Other (expense) income, net | (597 | ) |  | 260 |  |  | — |  |  | — |  |  | (337 | )
Loss from continuing operations before income taxes | (32,717 | ) |  | (106,273 | ) |  | — |  |  | — |  |  | (138,990 | )
Benefit from income taxes | (10,142 | ) |  | (28,016 | ) |  | — |  |  | — |  |  | (38,158 | )
Equity in loss of subsidiaries | (78,257 | ) |  | — |  |  | — |  |  | 78,257 |  |  | — |
Loss from continuing operations | (100,832 | ) |  | (78,257 | ) |  | — |  |  | 78,257 |  |  | (100,832 | )
Loss from discontinued operations, net of tax | — |  |  | (25 | ) |  | (5 | ) |  | — |  |  | (30 | )
Equity in loss of subsidiaries from discontinued operations | (30 | ) |  | — |  |  | — |  |  | 30 |  |  | — |
Net loss | $ | (100,862 | ) |  | $ | (78,282 | ) |  | $ | (5 | ) |  | $ | 78,287 |  |  | $ | (100,862 | )
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2018 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 455,178 |  |  | $ | 23 |  |  | $ | (23 | ) |  | $ | 455,178 |
Home construction and land sales expenses | 19,655 |  |  | 360,469 |  |  | — |  |  | (23 | ) |  | 380,101 |
Gross (loss) profit | (19,655 | ) |  | 94,709 |  |  | 23 |  |  | — |  |  | 75,077 |
Commissions | — |  |  | 17,334 |  |  | — |  |  | — |  |  | 17,334 |
General and administrative expenses | — |  |  | 40,823 |  |  | 29 |  |  | — |  |  | 40,852 |
Depreciation and amortization | — |  |  | 3,066 |  |  | — |  |  | — |  |  | 3,066 |
Operating (loss) income | (19,655 | ) |  | 33,486 |  |  | (6 | ) |  | — |  |  | 13,825 |
Equity in income of unconsolidated entities | — |  |  | 256 |  |  | — |  |  | — |  |  | 256 |
Other (expense) income, net | (1,650 | ) |  | 203 |  |  | (6 | ) |  | — |  |  | (1,453 | )
(Loss) income from continuing operations before income taxes | (21,305 | ) |  | 33,945 |  |  | (12 | ) |  | — |  |  | 12,628 |
(Benefit) expense from income taxes | (5,710 | ) |  | 6,725 |  |  | (3 | ) |  | — |  |  | 1,012 |
Equity in income of subsidiaries | 27,211 |  |  | — |  |  | — |  |  | (27,211 | ) |  | — |
Income (loss) from continuing operations | 11,616 |  |  | 27,220 |  |  | (9 | ) |  | (27,211 | ) |  | 11,616 |
Loss from discontinued operations, net of tax | — |  |  | (52 | ) |  | (6 | ) |  | — |  |  | (58 | )
Equity in loss of subsidiaries from discontinued operations | (58 | ) |  | — |  |  | — |  |  | 58 |  |  | — |
Net income (loss) | $ | 11,558 |  |  | $ | 27,168 |  |  | $ | (15 | ) |  | $ | (27,153 | ) |  | $ | 11,558 |
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2019 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 823,300 |  |  | $ | 115 |  |  | $ | (115 | ) |  | $ | 823,300 |
Home construction and land sales expenses | 35,867 |  |  | 660,955 |  |  | — |  |  | (115 | ) |  | 696,707 |
Inventory impairments and abandonments | 13,908 |  |  | 134,710 |  |  | — |  |  | — |  |  | 148,618 |
Gross (loss) profit | (49,775 | ) |  | 27,635 |  |  | 115 |  |  | — |  |  | (22,025 | )
Commissions | — |  |  | 31,735 |  |  | — |  |  | — |  |  | 31,735 |
General and administrative expenses | — |  |  | 76,018 |  |  | (4 | ) |  | — |  |  | 76,014 |
Depreciation and amortization | — |  |  | 5,670 |  |  | — |  |  | — |  |  | 5,670 |
Operating (loss) income | (49,775 | ) |  | (85,788 | ) |  | 119 |  |  | — |  |  | (135,444 | )
Equity in income of unconsolidated entities | — |  |  | 17 |  |  | — |  |  | — |  |  | 17 |
Gain on extinguishment of debt | 216 |  |  | — |  |  | — |  |  | — |  |  | 216 |
Other (expense) income, net | (839 | ) |  | 464 |  |  | (4 | ) |  | — |  |  | (379 | )
(Loss) income from continuing operations before income taxes | (50,398 | ) |  | (85,307 | ) |  | 115 |  |  | — |  |  | (135,590 | )
Expense (benefit) from income taxes | 10,241 |  |  | (52,350 | ) |  | 29 |  |  | — |  |  | (42,080 | )
Equity in loss of subsidiaries | (32,871 | ) |  | — |  |  | — |  |  | 32,871 |  |  | — |
(Loss) income from continuing operations | (93,510 | ) |  | (32,957 | ) |  | 86 |  |  | 32,871 |  |  | (93,510 | )
Loss from discontinued operations, net of tax | — |  |  | (31 | ) |  | (10 | ) |  | — |  |  | (41 | )
Equity in loss of subsidiaries from discontinued operations | (41 | ) |  | — |  |  | — |  |  | 41 |  |  | — |
Net (loss) income | $ | (93,551 | ) |  | $ | (32,988 | ) |  | $ | 76 |  |  | $ | 32,912 |  |  | $ | (93,551 | )
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2018 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 827,667 |  |  | $ | 37 |  |  | $ | (37 | ) |  | $ | 827,667 |
Home construction and land sales expenses | 36,123 |  |  | 655,675 |  |  | — |  |  | (37 | ) |  | 691,761 |
Gross (loss) profit | (36,123 | ) |  | 171,992 |  |  | 37 |  |  | — |  |  | 135,906 |
Commissions | — |  |  | 31,690 |  |  | — |  |  | — |  |  | 31,690 |
General and administrative expenses | — |  |  | 78,067 |  |  | 70 |  |  | — |  |  | 78,137 |
Depreciation and amortization | — |  |  | 5,573 |  |  | — |  |  | — |  |  | 5,573 |
Operating (loss) income | (36,123 | ) |  | 56,662 |  |  | (33 | ) |  | — |  |  | 20,506 |
Equity in income of unconsolidated entities | — |  |  | 155 |  |  | — |  |  | — |  |  | 155 |
Loss on extinguishment of debt | (25,904 | ) |  | — |  |  | — |  |  | — |  |  | (25,904 | )
Other (expense) income, net | (5,085 | ) |  | 500 |  |  | (13 | ) |  | — |  |  | (4,598 | )
(Loss) income from continuing operations before income taxes | (67,112 | ) |  | 57,317 |  |  | (46 | ) |  | — |  |  | (9,841 | )
(Benefit) expense from income taxes | (17,897 | ) |  | 127,029 |  |  | (14 | ) |  | — |  |  | 109,118 |
Equity in loss of subsidiaries | (69,744 | ) |  | — |  |  | — |  |  | 69,744 |  |  | — |
Loss from continuing operations | (118,959 | ) |  | (69,712 | ) |  | (32 | ) |  | 69,744 |  |  | (118,959 | )
Loss from discontinued operations, net of tax | — |  |  | (421 | ) |  | (9 | ) |  | — |  |  | (430 | )
Equity in loss of subsidiaries and discontinued operations | (430 | ) |  | — |  |  | — |  |  | 430 |  |  | — |
Net loss | $ | (119,389 | ) |  | $ | (70,133 | ) |  | $ | (41 | ) |  | $ | 70,174 |  |  | $ | (119,389 | )
Unaudited Condensed Consolidating Statements of Cash Flow Information | Beazer Homes USA, Inc. Condensed Consolidating Statements of Cash Flow Information (Unaudited)
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2019 |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities | $ | (101,323 | ) |  | $ | 18,324 |  |  | $ | (35 | ) |  | $ | — |  |  | $ | (83,034 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (11,508 | ) |  | — |  |  | — |  |  | (11,508 | )
Proceeds from sale of fixed assets | — |  |  | 94 |  |  | — |  |  | — |  |  | 94 |
Cash used for business acquisition, net of cash acquired | — |  |  | (4,088 | ) |  | — |  |  | — |  |  | (4,088 | )
Advances to/from subsidiaries | 44,061 |  |  | — |  |  | (533 | ) |  | (43,528 | ) |  | — |
Net cash provided by (used in) investing activities | 44,061 |  |  | (15,502 | ) |  | (533 | ) |  | (43,528 | ) |  | (15,502 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (5,062 | ) |  | — |  |  | — |  |  | — |  |  | (5,062 | )
Repayment of borrowings from credit facility | (150,000 | ) |  | — |  |  | — |  |  | — |  |  | (150,000 | )
Borrowings from credit facility | 225,000 |  |  | — |  |  | — |  |  | — |  |  | 225,000 |
Debt issuance costs | (400 | ) |  | — |  |  | — |  |  | — |  |  | (400 | )
Repurchase of common stock | (24,004 | ) |  | — |  |  | — |  |  | — |  |  | (24,004 | )
Tax payments for stock-based compensation awards | (1,886 | ) |  | — |  |  | — |  |  | — |  |  | (1,886 | )
Stock option exercises | 278 |  |  | — |  |  | — |  |  | — |  |  | 278 |
Advances to/from subsidiaries | — |  |  | (43,528 | ) |  | — |  |  | 43,528 |  |  | — |
Net cash provided by (used in) financing activities | 43,926 |  |  | (43,528 | ) |  | — |  |  | 43,528 |  |  | 43,926 |
Decrease in cash, cash equivalents, and restricted cash | (13,336 | ) |  | (40,706 | ) |  | (568 | ) |  | — |  |  | (54,610 | )
Cash, cash equivalents, and restricted cash at beginning of period | 104,796 |  |  | 47,877 |  |  | 575 |  |  | — |  |  | 153,248 |
Cash, cash equivalents, and restricted cash at end of period | $ | 91,460 |  |  | $ | 7,171 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 98,638 |
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2018 |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 68,837 |  |  | $ | (185,014 | ) |  | $ | (8 | ) |  | $ | — |  |  | $ | (116,185 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (8,192 | ) |  | — |  |  | — |  |  | (8,192 | )
Proceeds from sale of fixed assets | — |  |  | 133 |  |  | — |  |  | — |  |  | 133 |
Investments in unconsolidated entities | — |  |  | (421 | ) |  | — |  |  | — |  |  | (421 | )
Return of capital from unconsolidated entities | — |  |  | 176 |  |  | — |  |  | — |  |  | 176 |
Advances to/from subsidiaries | (186,478 | ) |  | — |  |  | (22 | ) |  | 186,500 |  |  | — |
Net cash used in investing activities | (186,478 | ) |  | (8,304 | ) |  | (22 | ) |  | 186,500 |  |  | (8,304 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (400,028 | ) |  | (1,469 | ) |  | — |  |  | — |  |  | (401,497 | )
Proceeds from issuance of new debt | 400,000 |  |  | — |  |  | — |  |  | — |  |  | 400,000 |
Borrowings from credit facility | 25,000 |  |  | — |  |  | — |  |  | — |  |  | 25,000 |
Repayment of borrowings from credit facility | (25,000 | ) |  | — |  |  | — |  |  | — |  |  | (25,000 | )
Debt issuance costs | (5,743 | ) |  | — |  |  | — |  |  | — |  |  | (5,743 | )
Tax payments for stock-based compensation awards | (1,323 | ) |  | — |  |  | — |  |  | — |  |  | (1,323 | )
Stock option exercises | 13 |  |  | — |  |  | — |  |  | — |  |  | 13 |
Advances to/from subsidiaries | — |  |  | 186,633 |  |  | — |  |  | (186,633 | ) |  | — |
Net cash (used in) provided by financing activities | (7,081 | ) |  | 185,164 |  |  | — |  |  | (186,633 | ) |  | (8,550 | )
Decrease in cash, cash equivalents, and restricted cash | (124,722 | ) |  | (8,154 | ) |  | (30 | ) |  | (133 | ) |  | (133,039 | )
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 | $ | 169,470 |  |  | $ | 8,700 |  |  | $ | 694 |  |  | $ | (7,294 | ) |  | $ | 171,570 |

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