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Supplemental Guarantor Information (Tables) | 9 Months Ended
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Jun. 30, 2019
Condensed Financial Information Disclosure [Abstract] |
Unaudited Condensed Consolidating Balance Sheet Information | Beazer Homes USA, Inc. Condensed Consolidating Balance Sheet Information June 30, 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 | $ | 61,938 |  |  | $ | 6,552 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 68,491 |
Restricted cash | 14,847 |  |  | 1,446 |  |  | — |  |  | — |  |  | 16,293 |
Accounts receivable (net of allowance of $358) | — |  |  | 20,283 |  |  | 4 |  |  | — |  |  | 20,287 |
Owned inventory | — |  |  | 1,702,724 |  |  | — |  |  | — |  |  | 1,702,724 |
Investments in unconsolidated entities | 773 |  |  | 3,168 |  |  | — |  |  | — |  |  | 3,941 |
Deferred tax assets, net | 258,713 |  |  | — |  |  | — |  |  | — |  |  | 258,713 |
Property and equipment, net | — |  |  | 28,276 |  |  | — |  |  | — |  |  | 28,276 |
Investments in subsidiaries | 636,790 |  |  | — |  |  | — |  |  | (636,790 | ) |  | — |
Intercompany | 899,170 |  |  | — |  |  | 1,690 |  |  | (900,860 | ) |  | — |
Goodwill | — |  |  | 11,376 |  |  | — |  |  | — |  |  | 11,376 |
Other assets | 758 |  |  | 9,417 |  |  | 3 |  |  | — |  |  | 10,178 |
Total assets | $ | 1,872,989 |  |  | $ | 1,783,242 |  |  | $ | 1,698 |  |  | $ | (1,537,650 | ) |  | $ | 2,120,279 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Trade accounts payable | $ | — |  |  | $ | 152,441 |  |  | $ | — |  |  | $ | — |  |  | $ | 152,441 |
Other liabilities | 23,718 |  |  | 93,899 |  |  | 18 |  |  | — |  |  | 117,635 |
Intercompany | 1,690 |  |  | 899,170 |  |  | — |  |  | (900,860 | ) |  | — |
Total debt (net of premium and debt issuance costs) | 1,313,745 |  |  | 2,622 |  |  | — |  |  | — |  |  | 1,316,367 |
Total liabilities | 1,339,153 |  |  | 1,148,132 |  |  | 18 |  |  | (900,860 | ) |  | 1,586,443 |
Stockholders’ equity | 533,836 |  |  | 635,110 |  |  | 1,680 |  |  | (636,790 | ) |  | 533,836 |
Total liabilities and stockholders’ equity | $ | 1,872,989 |  |  | $ | 1,783,242 |  |  | $ | 1,698 |  |  | $ | (1,537,650 | ) |  | $ | 2,120,279 |
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 June 30, 2019 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 482,738 |  |  | $ | — |  |  | $ | — |  |  | $ | 482,738 |
Home construction and land sales expenses | 21,752 |  |  | 389,222 |  |  | — |  |  | — |  |  | 410,974 |
Gross (loss) profit | (21,752 | ) |  | 93,516 |  |  | — |  |  | — |  |  | 71,764 |
Commissions | — |  |  | 18,230 |  |  | — |  |  | — |  |  | 18,230 |
General and administrative expenses | — |  |  | 40,749 |  |  | — |  |  | — |  |  | 40,749 |
Depreciation and amortization | — |  |  | 3,242 |  |  | — |  |  | — |  |  | 3,242 |
Operating (loss) income | (21,752 | ) |  | 31,295 |  |  | — |  |  | — |  |  | 9,543 |
Equity in income of unconsolidated entities | — |  |  | 299 |  |  | — |  |  | — |  |  | 299 |
Gain on extinguishment of debt | 358 |  |  | — |  |  | — |  |  | — |  |  | 358 |
Other (expense) income, net | (961 | ) |  | 206 |  |  | — |  |  | — |  |  | (755 | )
(Loss) income from continuing operations before income taxes | (22,355 | ) |  | 31,800 |  |  | — |  |  | — |  |  | 9,445 |
(Benefit) expense from income taxes | (5,745 | ) |  | 3,565 |  |  | — |  |  | — |  |  | (2,180 | )
Equity in income of subsidiaries | 28,235 |  |  | — |  |  | — |  |  | (28,235 | ) |  | — |
Income from continuing operations | 11,625 |  |  | 28,235 |  |  | — |  |  | (28,235 | ) |  | 11,625 |
Loss from discontinued operations, net of tax | — |  |  | (18 | ) |  | (5 | ) |  | — |  |  | (23 | )
Equity in loss of subsidiaries from discontinued operations | (23 | ) |  | — |  |  | — |  |  | 23 |  |  | — |
Net income | $ | 11,602 |  |  | $ | 28,217 |  |  | $ | (5 | ) |  | $ | (28,212 | ) |  | $ | 11,602 |
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Three Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 511,521 |  |  | $ | 23 |  |  | $ | (23 | ) |  | $ | 511,521 |
Home construction and land sales expenses | 22,441 |  |  | 405,691 |  |  | — |  |  | (23 | ) |  | 428,109 |
Inventory impairments and abandonments | — |  |  | 168 |  |  | — |  |  | — |  |  | 168 |
Gross (loss) profit | (22,441 | ) |  | 105,662 |  |  | 23 |  |  | — |  |  | 83,244 |
Commissions | — |  |  | 19,535 |  |  | — |  |  | — |  |  | 19,535 |
General and administrative expenses | — |  |  | 42,445 |  |  | 28 |  |  | — |  |  | 42,473 |
Depreciation and amortization | — |  |  | 3,656 |  |  | — |  |  | — |  |  | 3,656 |
Operating (loss) income | (22,441 | ) |  | 40,026 |  |  | (5 | ) |  | — |  |  | 17,580 |
Equity in income of unconsolidated entities | — |  |  | 147 |  |  | — |  |  | — |  |  | 147 |
Other (expense) income, net | (204 | ) |  | 187 |  |  | (13 | ) |  | — |  |  | (30 | )
(Loss) income from continuing operations before income taxes | (22,645 | ) |  | 40,360 |  |  | (18 | ) |  | — |  |  | 17,697 |
(Benefit) expense from income taxes | (6,069 | ) |  | 10,341 |  |  | (4 | ) |  | — |  |  | 4,268 |
Equity in income of subsidiaries | 30,005 |  |  | — |  |  | — |  |  | (30,005 | ) |  | — |
Income (loss) from continuing operations | 13,429 |  |  | 30,019 |  |  | (14 | ) |  | (30,005 | ) |  | 13,429 |
Loss from discontinued operations, net of tax | — |  |  | (11 | ) |  | (9 | ) |  | — |  |  | (20 | )
Equity in loss of subsidiaries from discontinued operations | (20 | ) |  | — |  |  | — |  |  | 20 |  |  | — |
Net income (loss) | $ | 13,409 |  |  | $ | 30,008 |  |  | $ | (23 | ) |  | $ | (29,985 | ) |  | $ | 13,409 |
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 1,306,038 |  |  | $ | 115 |  |  | $ | (115 | ) |  | $ | 1,306,038 |
Home construction and land sales expenses | 57,619 |  |  | 1,050,177 |  |  | — |  |  | (115 | ) |  | 1,107,681 |
Inventory impairments and abandonments | 13,908 |  |  | 134,710 |  |  | — |  |  | — |  |  | 148,618 |
Gross (loss) profit | (71,527 | ) |  | 121,151 |  |  | 115 |  |  | — |  |  | 49,739 |
Commissions | — |  |  | 49,965 |  |  | — |  |  | — |  |  | 49,965 |
General and administrative expenses | — |  |  | 116,767 |  |  | (4 | ) |  | — |  |  | 116,763 |
Depreciation and amortization | — |  |  | 8,912 |  |  | — |  |  | — |  |  | 8,912 |
Operating (loss) income | (71,527 | ) |  | (54,493 | ) |  | 119 |  |  | — |  |  | (125,901 | )
Equity in income of unconsolidated entities | — |  |  | 316 |  |  | — |  |  | — |  |  | 316 |
Gain on extinguishment of debt | 574 |  |  | — |  |  | — |  |  | — |  |  | 574 |
Other (expense) income, net | (1,800 | ) |  | 670 |  |  | (4 | ) |  | — |  |  | (1,134 | )
(Loss) income from continuing operations before income taxes | (72,753 | ) |  | (53,507 | ) |  | 115 |  |  | — |  |  | (126,145 | )
Expense (benefit) from income taxes | 4,496 |  |  | (48,785 | ) |  | 29 |  |  | — |  |  | (44,260 | )
Equity in loss of subsidiaries | (4,636 | ) |  | — |  |  | — |  |  | 4,636 |  |  | — |
(Loss) income from continuing operations | (81,885 | ) |  | (4,722 | ) |  | 86 |  |  | 4,636 |  |  | (81,885 | )
Loss from discontinued operations, net of tax | — |  |  | (49 | ) |  | (15 | ) |  | — |  |  | (64 | )
Equity in loss of subsidiaries from discontinued operations | (64 | ) |  | — |  |  | — |  |  | 64 |  |  | — |
Net (loss) income | $ | (81,949 | ) |  | $ | (4,771 | ) |  | $ | 71 |  |  | $ | 4,700 |  |  | $ | (81,949 | )
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |
Total revenue | $ | — |  |  | $ | 1,339,188 |  |  | $ | 60 |  |  | $ | (60 | ) |  | $ | 1,339,188 |
Home construction and land sales expenses | 58,564 |  |  | 1,061,366 |  |  | — |  |  | (60 | ) |  | 1,119,870 |
Inventory impairments and abandonments | — |  |  | 168 |  |  | — |  |  | — |  |  | 168 |
Gross (loss) profit | (58,564 | ) |  | 277,654 |  |  | 60 |  |  | — |  |  | 219,150 |
Commissions | — |  |  | 51,225 |  |  | — |  |  | — |  |  | 51,225 |
General and administrative expenses | — |  |  | 120,513 |  |  | 97 |  |  | — |  |  | 120,610 |
Depreciation and amortization | — |  |  | 9,229 |  |  | — |  |  | — |  |  | 9,229 |
Operating (loss) income | (58,564 | ) |  | 96,687 |  |  | (37 | ) |  | — |  |  | 38,086 |
Equity in income of unconsolidated entities | — |  |  | 302 |  |  | — |  |  | — |  |  | 302 |
Loss on extinguishment of debt | (25,904 | ) |  | — |  |  | — |  |  | — |  |  | (25,904 | )
Other (expense) income, net | (5,289 | ) |  | 687 |  |  | (26 | ) |  | — |  |  | (4,628 | )
(Loss) income from continuing operations before income taxes | (89,757 | ) |  | 97,676 |  |  | (63 | ) |  | — |  |  | 7,856 |
(Benefit) expense from income taxes | (23,966 | ) |  | 137,370 |  |  | (18 | ) |  | — |  |  | 113,386 |
Equity in loss of subsidiaries | (39,739 | ) |  | — |  |  | — |  |  | 39,739 |  |  | — |
Loss from continuing operations | (105,530 | ) |  | (39,694 | ) |  | (45 | ) |  | 39,739 |  |  | (105,530 | )
Loss from discontinued operations, net of tax | — |  |  | (432 | ) |  | (18 | ) |  | — |  |  | (450 | )
Equity in loss of subsidiaries and discontinued operations | (450 | ) |  | — |  |  | — |  |  | 450 |  |  | — |
Net loss | $ | (105,980 | ) |  | $ | (40,126 | ) |  | $ | (63 | ) |  | $ | 40,189 |  |  | $ | (105,980 | )
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.
Nine Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |
Net cash used in operating activities | $ | (64,205 | ) |  | $ | (29,990 | ) |  | $ | (10 | ) |  | $ | — |  |  | $ | (94,205 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (16,365 | ) |  | — |  |  | — |  |  | (16,365 | )
Proceeds from sale of fixed assets | — |  |  | 162 |  |  | — |  |  | — |  |  | 162 |
Cash used for business acquisition, net of cash acquired | — |  |  | (4,088 | ) |  | — |  |  | — |  |  | (4,088 | )
Advances to/from subsidiaries | (11,328 | ) |  | — |  |  | (564 | ) |  | 11,892 |  |  | — |
Net cash used in investing activities | (11,328 | ) |  | (20,291 | ) |  | (564 | ) |  | 11,892 |  |  | (20,291 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (20,843 | ) |  | (1,490 | ) |  | — |  |  | — |  |  | (22,333 | )
Repayment of borrowings from credit facility | (235,000 | ) |  | — |  |  | — |  |  | — |  |  | (235,000 | )
Borrowings from credit facility | 340,000 |  |  | — |  |  | — |  |  | — |  |  | 340,000 |
Debt issuance costs | (400 | ) |  | — |  |  | — |  |  | — |  |  | (400 | )
Repurchase of common stock | (34,624 | ) |  | — |  |  | — |  |  | — |  |  | (34,624 | )
Tax payments for stock-based compensation awards | (1,889 | ) |  | — |  |  | — |  |  | — |  |  | (1,889 | )
Stock option exercises | 278 |  |  | — |  |  | — |  |  | — |  |  | 278 |
Advances to/from subsidiaries | — |  |  | 11,892 |  |  | — |  |  | (11,892 | ) |  | — |
Net cash provided by financing activities | 47,522 |  |  | 10,402 |  |  | — |  |  | (11,892 | ) |  | 46,032 |
Decrease in cash, cash equivalents, and restricted cash | (28,011 | ) |  | (39,879 | ) |  | (574 | ) |  | — |  |  | (68,464 | )
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 | $ | 76,785 |  |  | $ | 7,998 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 84,784 |
in thousands | Beazer Homes USA, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 64,319 |  |  | $ | (197,707 | ) |  | $ | (88 | ) |  | $ | — |  |  | $ | (133,476 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (13,894 | ) |  | — |  |  | — |  |  | (13,894 | )
Proceeds from sale of fixed assets | — |  |  | 226 |  |  | — |  |  | — |  |  | 226 |
Investments in unconsolidated entities | — |  |  | (421 | ) |  | — |  |  | — |  |  | (421 | )
Return of capital from unconsolidated entities | — |  |  | 176 |  |  | — |  |  | — |  |  | 176 |
Advances to/from subsidiaries | (208,328 | ) |  | — |  |  | (6 | ) |  | 208,334 |  |  | — |
Net cash used in investing activities | (208,328 | ) |  | (13,913 | ) |  | (6 | ) |  | 208,334 |  |  | (13,913 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | (401,509 | ) |  | — |  |  | — |  |  | — |  |  | (401,509 | )
Proceeds from issuance of new debt | 400,000 |  |  | — |  |  | — |  |  | — |  |  | 400,000 |
Borrowings from credit facility | 75,000 |  |  | — |  |  | — |  |  | — |  |  | 75,000 |
Repayment of borrowings from credit facility | (75,000 | ) |  | — |  |  | — |  |  | — |  |  | (75,000 | )
Debt issuance costs | (5,743 | ) |  | — |  |  | — |  |  | — |  |  | (5,743 | )
Tax payments for stock-based compensation awards | (1,565 | ) |  | — |  |  | — |  |  | — |  |  | (1,565 | )
Stock option exercises | 62 |  |  | — |  |  | — |  |  | — |  |  | 62 |
Advances to/from subsidiaries | — |  |  | 205,050 |  |  | — |  |  | (205,050 | ) |  | — |
Net cash (used in) provided by financing activities | (8,755 | ) |  | 205,050 |  |  | — |  |  | (205,050 | ) |  | (8,755 | )
Decrease in cash, cash equivalents, and restricted cash | (152,764 | ) |  | (6,570 | ) |  | (94 | ) |  | 3,284 |  |  | (156,144 | )
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 | $ | 141,428 |  |  | $ | 10,284 |  |  | $ | 630 |  |  | $ | (3,877 | ) |  | $ | 148,465 |

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