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Supplemental Guarantor Information Supplemental Guarantor Information (Tables)
9 Months Ended
Sep. 30, 2014
Supplemental Guarantor Information [Abstract]  
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block]
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2014
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
Revenue
 
$

$
323,187

$
7,580

$

$
330,767

Costs and expenses:
 
 
 
 
 
 
Land and housing
 

261,636



261,636

Impairment of inventory and investment in unconsolidated joint ventures
 

622



622

General and administrative
 

17,811

3,913


21,724

Selling
 

21,955



21,955

Equity in income of unconsolidated joint ventures
 


(22
)

(22
)
Interest
 

2,248

401


2,649

Total costs and expenses
 

304,272

4,292


308,564

 
 
 
 
 
 
 
Income before income taxes
 

18,915

3,288


22,203

 
 
 
 
 
 
 
Provision for income taxes
 

7,428

1,158


8,586

 
 
 
 
 
 
 
Equity in subsidiaries
 
13,617



(13,617
)

 
 
 
 
 
 
 
Net income
 
13,617

11,487

2,130

(13,617
)
13,617

 
 
 
 
 
 
 
Preferred dividends
 
1,218




1,218

 
 
 
 
 
 
 
Net income to common shareholders
 
$
12,399

$
11,487

$
2,130

$
(13,617
)
$
12,399

 
 
 
 
 
Three Months Ended September 30, 2013
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
Revenue
 
$

$
268,514

$
6,681

$

$
275,195

Costs and expenses:
 
 
 
 
 
 
Land and housing
 

218,150



218,150

Impairment of inventory and investment in unconsolidated joint ventures
 

2,136



2,136

General and administrative
 

15,309

2,952


18,261

Selling
 

17,979

20


17,999

Equity in income of unconsolidated joint ventures
 


(278
)

(278
)
Interest
 

3,087

362


3,449

Loss on early extinguishment of debt
 

1,726



1,726

Total costs and expenses
 

258,387

3,056


261,443

 
 
 
 
 
 
 
Income before income taxes
 

10,127

3,625


13,752

 
 
 
 
 
 
 
(Benefit) provision for income taxes
 

(112,694
)
1,135


(111,559
)
 
 
 
 
 
 
 
Equity in subsidiaries
 
125,311



(125,311
)

 
 
 
 
 
 
 
Net income
 
125,311

122,821

2,490

(125,311
)
125,311

 
 
 
 
 
 
 
Preferred dividends
 
1,219




1,219

 
 
 
 
 
 
 
Net income to common shareholders
 
$
124,092

$
122,821

$
2,490

$
(125,311
)
$
124,092

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2014
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
Revenue
 
$

$
825,301

$
21,915

$

$
847,216

Costs and expenses:
 
 
 
 
 
 
Land and housing
 

666,817



666,817

Impairment of inventory and investment in unconsolidated joint ventures
 

1,426



1,426

General and administrative
 

51,159

10,161


61,320

Selling
 

58,175



58,175

Equity in income of unconsolidated joint ventures
 


(62
)

(62
)
Interest
 

8,530

1,019


9,549

Total costs and expenses
 

786,107

11,118


797,225

 
 
 
 
 
 
 
Income before income taxes
 

39,194

10,797


49,991

 
 
 
 
 
 
 
Provision for income taxes
 

5,991

4,197


10,188

 
 
 
 
 
 
 
Equity in subsidiaries
 
39,803



(39,803
)

 
 
 
 
 
 
 
Net income
 
39,803

33,203

6,600

(39,803
)
39,803

 
 
 
 
 
 
 
Preferred dividends
 
3,656




3,656

 
 
 
 
 
 
 
Net income to common shareholders
 
$
36,147

$
33,203

$
6,600

$
(39,803
)
$
36,147



 
 
Nine Months Ended September 30, 2013
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
Revenue
 
$

$
678,132

$
22,343

$

$
700,475

Costs and expenses:
 
 
 
 
 
 
Land and housing
 

556,799



556,799

Impairment of inventory and investment in unconsolidated joint ventures
 

4,237



4,237

General and administrative
 

43,104

9,285


52,389

Selling
 

47,317

66


47,383

Equity in income of unconsolidated joint ventures
 


(278
)

(278
)
Interest
 

11,171

1,015


12,186

Loss on early extinguishment of debt
 

1,726



1,726

Total costs and expenses
 

664,354

10,088


674,442

 
 
 
 
 
 
 
Income before income taxes
 

13,778

12,255


26,033

 
 
 
 
 
 
 
(Benefit) provision for income taxes
 

(115,308
)
4,179


(111,129
)
 
 
 
 
 
 
 
Equity in subsidiaries
 
137,162



(137,162
)

 
 
 
 
 
 
 
Net income
 
137,162

129,086

8,076

(137,162
)
137,162

 
 
 
 
 
 
 
Preferred dividends
 
2,438




2,438

Excess of fair value over book value of preferred shares redeemed
 
2,190




2,190

 
 
 
 
 
 
 
Net income to common shareholders
 
$
132,534

$
129,086

$
8,076

$
(137,162
)
$
132,534

Schedule Of Condensed Consolidating Balance Sheet [Table Text Block]

CONDENSED CONSOLIDATING BALANCE SHEET
 
 
 
 
 
 
 
 
 
September 30, 2014
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
ASSETS:
 
 
 
 
 
 
Cash and cash equivalents
 
$

$
3,811

$
13,357

$

$
17,168

Restricted cash
 

8,898



8,898

Mortgage loans held for sale
 


76,983


76,983

Inventory
 

893,964



893,964

Property and equipment - net
 

11,119

311


11,430

Investment in unconsolidated joint ventures
 

22,286

18,483


40,769

Deferred income taxes, net of valuation allowances
 

101,849

1,033


102,882

Investment in subsidiaries
 
567,407



(567,407
)

Intercompany assets
 
330,075



(330,075
)

Other assets
 
7,930

23,576

9,554


41,060

TOTAL ASSETS
 
$
905,412

$
1,065,503

$
119,721

$
(897,482
)
$
1,193,154

 
 
 
 
 
 

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 

 
 
 
 
 
 

LIABILITIES:
 
 
 
 
 

Accounts payable
 
$

$
97,302

$
571

$

$
97,873

Customer deposits
 

14,202



14,202

Intercompany liabilities
 

309,906

20,169

(330,075
)

Other liabilities
 

68,711

5,492


74,203

Community development district obligations
 

3,056



3,056

Obligation for consolidated inventory not owned
 

1,700



1,700

Notes payable banks - homebuilding
 

14,400



14,400

Notes payable bank - financial services operations
 


73,778


73,778

Notes payable - other
 

8,530



8,530

Convertible senior subordinated notes due 2017
 
57,500




57,500

Convertible senior subordinated notes due 2018
 
86,250




86,250

Senior notes
 
228,369




228,369

TOTAL LIABILITIES
 
372,119

517,807

100,010

(330,075
)
659,861

 
 
 
 
 
 
 
SHAREHOLDERS’ EQUITY
 
533,293

547,696

19,711

(567,407
)
533,293

 
 
 
 
 
 
 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
 
$
905,412

$
1,065,503

$
119,721

$
(897,482
)
$
1,193,154


CONDENSED CONSOLIDATING BALANCE SHEET
 
 
 
 
 
 
 
 
 
December 31, 2013
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
ASSETS:
 
 
 
 
 
 
Cash and cash equivalents
 
$

$
113,407

$
15,318

$

$
128,725

Restricted cash
 

13,902



13,902

Mortgage loans held for sale
 


81,810


81,810

Inventory
 

690,934



690,934

Property and equipment - net
 

10,267

269


10,536

Investment in unconsolidated joint ventures
 

13,525

21,741


35,266

Deferred income taxes, net of valuation allowances
 

109,763

1,148


110,911

Investment in subsidiaries
 
535,879



(535,879
)

Intercompany assets
 
318,852



(318,852
)

Other assets
 
9,892

17,180

11,020


38,092

TOTAL ASSETS
 
$
864,623

$
968,978

$
131,306

$
(854,731
)
$
1,110,176

 
 
 
 
 
 

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 

 
 
 
 
 
 

LIABILITIES:
 
 
 
 
 

Accounts payable
 
$

$
69,887

$
339

$

$
70,226

Customer deposits
 

11,262



11,262

Intercompany liabilities
 

296,229

22,623

(318,852
)

Other liabilities
 

64,413

6,928


71,341

Community development district obligations
 

3,130



3,130

Obligation for consolidated inventory not owned
 

1,775



1,775

Notes payable bank - financial services operations
 


80,029


80,029

Notes payable - other
 

7,790



7,790

Convertible senior subordinated notes due 2017
 
57,500




57,500

Convertible senior subordinated notes due 2018
 
86,250




86,250

Senior notes
 
228,070




228,070

TOTAL LIABILITIES
 
371,820

454,486

109,919

(318,852
)
617,373

 
 
 
 
 
 
 
SHAREHOLDERS’ EQUITY
 
492,803

514,492

21,387

(535,879
)
492,803

 
 
 
 
 
 
 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
 
$
864,623

$
968,978

$
131,306

$
(854,731
)
$
1,110,176



Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block]
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
 
 
 
 
 
 
 
Nine Months Ended September 30, 2014
(In thousands)
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
OPERATING ACTIVITIES:
 
 
 
 
 
Net cash provided by (used in) operating activities
$
8,275

$
(124,022
)
$
17,311

$
(8,275
)
$
(106,711
)
 
 
 
 
 
 
INVESTING ACTIVITIES:
 
 
 
 
 
Restricted cash

4,912



4,912

Purchase of property and equipment

(2,222
)
(125
)

(2,347
)
Investments in and advances to unconsolidated joint ventures

(12,080
)
(4,738
)

(16,818
)
Return of capital from unconsolidated joint ventures


619


619

Net proceeds from the sale of mortgage servicing rights


2,135


2,135

Net cash used in investing activities

(9,390
)
(2,109
)

(11,499
)
 
 
 
 
 
 
FINANCING ACTIVITIES:
 
 
 
 
 
Proceeds from (repayments of) bank borrowings - net

14,400

(6,251
)

8,149

Principal proceeds from note payable - other and community development district bond obligations

740



740

Proceeds from exercise of stock options
1,460




1,460

Intercompany financing
(6,079
)
8,676

(2,597
)


Dividends paid
(3,656
)

(8,275
)
8,275

(3,656
)
Debt issue costs


(40
)

(40
)
Net cash (used in) provided by financing activities
(8,275
)
23,816

(17,163
)
8,275

6,653

 
 
 
 
 
 
Net decrease in cash and cash equivalents

(109,596
)
(1,961
)

(111,557
)
Cash and cash equivalents balance at beginning of period

113,407

15,318


128,725

Cash and cash equivalents balance at end of period
$

$
3,811

$
13,357

$

$
17,168


 
Nine Months Ended September 30, 2013
(In thousands)
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
OPERATING ACTIVITIES:
 
 
 
 
 
Net cash provided by (used in) operating activities
$
7,100

$
(60,703
)
$
20,267

$
(7,100
)
$
(40,436
)
 
 
 
 
 
 
INVESTING ACTIVITIES:
 
 
 
 
 
Restricted cash

(7,274
)


(7,274
)
Purchase of property and equipment

(1,528
)
(126
)

(1,654
)
Investments in and advances to unconsolidated joint ventures

(14,657
)
(10,839
)

(25,496
)
Return of capital from unconsolidated joint ventures


1,522


1,522

Net cash used in investing activities

(23,459
)
(9,443
)

(32,902
)
 
 
 
 
 
 
FINANCING ACTIVITIES:
 
 
 
 
 
Repayments from bank borrowings - net


(12,343
)

(12,343
)
Principal repayments from note payable - other and community development district bond obligations

(2,979
)


(2,979
)
Proceeds from issuance of convertible senior subordinated notes due 2018
86,250




86,250

Redemption of of preferred shares
(50,352
)



(50,352
)
Proceeds from exercise of stock options
2,640




2,640

Proceeds from issuance of common shares
54,617




54,617

Intercompany financing
(98,200
)
92,463

5,737



Dividends paid
(2,438
)

(7,100
)
7,100

(2,438
)
Debt issue costs

(5,402
)
(61
)

(5,463
)
Excess tax deficiency from stock-based payment arrangements
383




383

Net cash (used in) provided by financing activities
(7,100
)
84,082

(13,767
)
7,100

70,315

 
 
 
 
 
 
Net (decrease) increase in cash and cash equivalents

(80
)
(2,943
)

(3,023
)
Cash and cash equivalents balance at beginning of period

126,334

19,164


145,498

Cash and cash equivalents balance at end of period
$

$
126,254

$
16,221

$

$
142,475