Supplemental Guarantor Information Supplemental Guarantor Information (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
Supplemental Guarantor Information [Abstract] |
|
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block] |
| | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENTS OF INCOME | | | | | | Year Ended December 31, 2015 | (In thousands) | | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated | | | | | | | | Revenue | | $ | — |
| $ | 1,382,420 |
| $ | 35,975 |
| $ | — |
| $ | 1,418,395 |
| Costs and expenses: | | | | | | | Land and housing | | — |
| 1,114,663 |
| — |
| — |
| 1,114,663 |
| Impairment of inventory and investment in unconsolidated joint ventures | | — |
| 3,638 |
| — |
| — |
| 3,638 |
| General and administrative | | — |
| 77,662 |
| 15,546 |
| — |
| 93,208 |
| Selling | | — |
| 95,092 |
| — |
| — |
| 95,092 |
| Equity in income of unconsolidated joint ventures | | — |
| — |
| (498 | ) | — |
| (498 | ) | Interest | | — |
| 15,905 |
| 1,616 |
| — |
| 17,521 |
| Loss on early extinguishment of debt | | — |
| 7,842 |
| — |
| — |
| 7,842 |
| Total costs and expenses | | — |
| 1,314,802 |
| 16,664 |
| — |
| 1,331,466 |
| | | | | | | | Income before income taxes | | — |
| 67,618 |
| 19,311 |
| — |
| 86,929 |
| | | | | | | | Provision for income taxes | | — |
| 28,758 |
| 6,408 |
| — |
| 35,166 |
| | | | | | | | Equity in subsidiaries | | 51,763 |
| — |
| — |
| (51,763 | ) | — |
| | | | | | | | Net income | | $ | 51,763 |
| $ | 38,860 |
| $ | 12,903 |
| $ | (51,763 | ) | $ | 51,763 |
| | | | | | | | Preferred dividends | | 4,875 |
| — |
| — |
| — |
| 4,875 |
| | | | | | | | Net income to common shareholders | | $ | 46,888 |
| $ | 38,860 |
| $ | 12,903 |
| $ | (51,763 | ) | $ | 46,888 |
|
| | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENTS OF INCOME | | | | | | Year Ended December 31, 2014 | (In thousands) | | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated | | | | | | | | Revenue | | $ | — |
| $ | 1,185,058 |
| $ | 30,122 |
| $ | — |
| $ | 1,215,180 |
| Costs and expenses: | | | | | | | Land and housing | | — |
| 958,991 |
| — |
| — |
| 958,991 |
| Impairment of inventory and investment in unconsolidated joint ventures | | — |
| 3,457 |
| — |
| — |
| 3,457 |
| General and administrative | | — |
| 73,747 |
| 15,083 |
| — |
| 88,830 |
| Selling | | — |
| 81,148 |
| — |
| — |
| 81,148 |
| Equity in income of unconsolidated joint ventures | | — |
| — |
| (347 | ) | — |
| (347 | ) | Interest | | — |
| 11,926 |
| 1,439 |
| — |
| 13,365 |
| Total costs and expenses | | — |
| 1,129,269 |
| 16,175 |
| — |
| 1,145,444 |
| | | | | | | | Income before income taxes | | — |
| 55,789 |
| 13,947 |
| — |
| 69,736 |
| | | | | | | | Provision for income taxes | | — |
| 14,341 |
| 4,606 |
| — |
| 18,947 |
| | | | | | | | Equity in subsidiaries | | 50,789 |
| — |
| — |
| (50,789 | ) | — |
| | | | | | | | Net income | | $ | 50,789 |
| $ | 41,448 |
| $ | 9,341 |
| $ | (50,789 | ) | $ | 50,789 |
| | | | | | | | Preferred dividends | | 4,875 |
| — |
| — |
| — |
| 4,875 |
| | | | | | | | Net income to common shareholders | | $ | 45,914 |
| $ | 41,448 |
| $ | 9,341 |
| $ | (50,789 | ) | $ | 45,914 |
|
| | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2013 | (In thousands) | | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated | | | | | | | | Revenue | | $ | — |
| $ | 1,008,243 |
| $ | 28,539 |
| $ | — |
| $ | 1,036,782 |
| Costs and expenses: | | | | | | | Land and housing | | — |
| 824,508 |
| — |
| — |
| 824,508 |
| Impairment of inventory and investment in unconsolidated joint ventures | | — |
| 5,805 |
| — |
| — |
| 5,805 |
| General and administrative | | — |
| 66,249 |
| 13,245 |
| — |
| 79,494 |
| Selling | | — |
| 68,209 |
| 73 |
| — |
| 68,282 |
| Equity in income of unconsolidated joint ventures | | — |
| — |
| (306 | ) | — |
| (306 | ) | Interest | | — |
| 14,556 |
| 1,382 |
| — |
| 15,938 |
| Loss on early extinguishment of debt | | — |
| 1,726 |
| — |
| — |
| 1,726 |
| Total costs and expenses | | — |
| 981,053 |
| 14,394 |
| — |
| 995,447 |
| | | | | | | | Income before income taxes | | — |
| 27,190 |
| 14,145 |
| — |
| 41,335 |
| | | | | | | | (Benefit) provision for income taxes | | — |
| (114,866 | ) | 4,778 |
| — |
| (110,088 | ) | | | | | | | | Equity in subsidiaries | | 151,423 |
| — |
| — |
| (151,423 | ) | — |
| | | | | | | | Net income | | $ | 151,423 |
| $ | 142,056 |
| $ | 9,367 |
| $ | (151,423 | ) | $ | 151,423 |
| | | | | | | | Preferred dividends | | 3,656 |
| — |
| — |
| — |
| 3,656 |
| Excess of fair value over book value of preferred shares redeemed | | 2,190 |
| — |
| — |
| — |
| 2,190 |
| | | | | | | | Net income to common shareholders | | $ | 145,577 |
| $ | 142,056 |
| $ | 9,367 |
| $ | (151,423 | ) | $ | 145,577 |
|
|
Schedule Of Condensed Consolidating Balance Sheet [Table Text Block] |
| | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING BALANCE SHEET | | | | | | | | | | December 31, 2015 | (In thousands) | | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated | | | | | | | | ASSETS: | | | | | | | Cash and cash equivalents | | $ | — |
| $ | — |
| $ | 18,156 |
| $ | (7,951 | ) | $ | 10,205 |
| Restricted cash | | — |
| 2,896 |
| — |
| — |
| 2,896 |
| Mortgage loans held for sale | | — |
| — |
| 127,001 |
| — |
| 127,001 |
| Inventory | | — |
| 1,112,042 |
| — |
| — |
| 1,112,042 |
| Property and equipment - net | | — |
| 12,222 |
| 675 |
| — |
| 12,897 |
| Investment in unconsolidated joint ventures | | — |
| 17,425 |
| 19,542 |
| — |
| 36,967 |
| Investment in subsidiaries | | 621,052 |
| — |
| — |
| (621,052 | ) | — |
| Deferred income taxes, net of valuation allowances | | — |
| 67,255 |
| 149 |
| — |
| 67,404 |
| Intercompany assets | | 408,847 |
| — |
| — |
| (408,847 | ) | — |
| Other assets | | 2,626 |
| 32,335 |
| 11,181 |
| — |
| 46,142 |
| TOTAL ASSETS | | $ | 1,032,525 |
| $ | 1,244,175 |
| $ | 176,704 |
| $ | (1,037,850 | ) | $ | 1,415,554 |
| | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | |
| | | | | | |
| LIABILITIES: | | | | | |
| Accounts payable | | $ | — |
| $ | 94,554 |
| $ | 275 |
| $ | (7,951 | ) | $ | 86,878 |
| Customer deposits | | — |
| 19,567 |
| — |
| — |
| 19,567 |
| Intercompany liabilities | | — |
| 387,439 |
| 21,408 |
| (408,847 | ) | — |
| Other liabilities | | — |
| 88,550 |
| 5,120 |
| — |
| 93,670 |
| Community development district obligations | | — |
| 1,018 |
| — |
| — |
| 1,018 |
| Obligation for consolidated inventory not owned | | — |
| 6,007 |
| — |
| — |
| 6,007 |
| Notes payable bank - homebuilding operations | | — |
| 43,800 |
| — |
| — |
| 43,800 |
| Notes payable bank - financial services operations | | — |
| — |
| 123,648 |
| — |
| 123,648 |
| Notes payable - other | | — |
| 8,441 |
| — |
| — |
| 8,441 |
| Convertible senior subordinated notes due 2017 | | 56,518 |
| — |
| — |
| — |
| 56,518 |
| Convertible senior subordinated notes due 2018 | | 84,714 |
| — |
| — |
| — |
| 84,714 |
| Senior notes | | 294,727 |
| — |
| — |
| — |
| 294,727 |
| TOTAL LIABILITIES | | 435,959 |
| 649,376 |
| 150,451 |
| (416,798 | ) | 818,988 |
| | | | | | | | Shareholders’ equity | | 596,566 |
| 594,799 |
| 26,253 |
| (621,052 | ) | 596,566 |
| | | | | | | | TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | | $ | 1,032,525 |
| $ | 1,244,175 |
| $ | 176,704 |
| $ | (1,037,850 | ) | $ | 1,415,554 |
|
| | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING BALANCE SHEET | | | | | | | | | | December 31, 2014 | (In thousands) | | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated | | | | | | | | ASSETS: | | | | | | | Cash and cash equivalents | | $ | — |
| $ | 3,872 |
| $ | 11,663 |
| $ | — |
| $ | 15,535 |
| Restricted cash | | — |
| 6,951 |
| — |
| — |
| 6,951 |
| Mortgage loans held for sale | | — |
| — |
| 92,794 |
| — |
| 92,794 |
| Inventory | | — |
| 918,589 |
| — |
| — |
| 918,589 |
| Property and equipment - net | | — |
| 11,189 |
| 301 |
| — |
| 11,490 |
| Investment in unconsolidated joint ventures | | — |
| 15,033 |
| 12,736 |
| — |
| 27,769 |
| Investment in subsidiaries | | 576,468 |
| — |
| — |
| (576,468 | ) | — |
| Deferred income taxes, net of valuation allowances | | — |
| 94,088 |
| 324 |
| — |
| 94,412 |
| Intercompany assets | | 330,786 |
| — |
| — |
| (330,786 | ) | — |
| Other assets (1) | | 3,089 |
| 24,378 |
| 10,232 |
| — |
| 37,699 |
| TOTAL ASSETS | | $ | 910,343 |
| $ | 1,074,100 |
| $ | 128,050 |
| $ | (907,254 | ) | $ | 1,205,239 |
| | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | |
| | | | | | |
| LIABILITIES: | | | | | |
| Accounts payable | | $ | — |
| $ | 74,344 |
| $ | 994 |
| $ | — |
| $ | 75,338 |
| Customer deposits | | — |
| 11,759 |
| — |
| — |
| 11,759 |
| Intercompany liabilities | | — |
| 314,946 |
| 15,840 |
| (330,786 | ) | — |
| Other liabilities | | — |
| 74,413 |
| 5,310 |
| — |
| 79,723 |
| Community development district obligations | | — |
| 2,571 |
| — |
| — |
| 2,571 |
| Obligation for consolidated inventory not owned | | — |
| 608 |
| — |
| — |
| 608 |
| Notes payable bank - homebuilding operations | | — |
| 30,000 |
| — |
| — |
| 30,000 |
| Notes payable bank - financial services operations | | — |
| — |
| 85,379 |
| — |
| 85,379 |
| Notes payable - other | | — |
| 9,518 |
| — |
| — |
| 9,518 |
| Convertible senior subordinated notes due 2017 (1) | | 55,943 |
| — |
| — |
| — |
| 55,943 |
| Convertible senior subordinated notes due 2018 (1) | | 84,006 |
| — |
| — |
| — |
| 84,006 |
| Senior notes (1) | | 226,099 |
| — |
| — |
| — |
| 226,099 |
| TOTAL LIABILITIES | | 366,048 |
| 518,159 |
| 107,523 |
| (330,786 | ) | 660,944 |
| | | | | | | | Shareholders’ equity | | 544,295 |
| 555,941 |
| 20,527 |
| (576,468 | ) | 544,295 |
| | | | | | | | TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | | $ | 910,343 |
| $ | 1,074,100 |
| $ | 128,050 |
| $ | (907,254 | ) | $ | 1,205,239 |
|
|
Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block] |
| | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | | | | | | | | | | Year Ended December 31, 2015 | (In thousands) | | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated | | | | | | | | CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | Net cash provided by (used in) operating activities | | $ | 7,178 |
| $ | (58,566 | ) | $ | (23,593 | ) | $ | (7,178 | ) | $ | (82,159 | ) | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | Restricted cash | | — |
| 3,849 |
| — |
| — |
| 3,849 |
| Purchase of property and equipment | | — |
| (3,156 | ) | (503 | ) | — |
| (3,659 | ) | Acquisition, net of cash acquired | | — |
| (23,950 | ) | — |
| — |
| (23,950 | ) | Net proceeds from the sale of mortgage servicing rights | | — |
| — |
| 3,065 |
| — |
| 3,065 |
| Intercompany investing | | (3,338 | ) |
|
|
|
| 3,338 |
| — |
| Investments in and advances to unconsolidated joint ventures | | — |
| (8,087 | ) | (10,075 | ) | — |
| (18,162 | ) | Return of capital from unconsolidated joint ventures | | — |
| — |
| 1,226 |
| — |
| 1,226 |
| Net cash (used in) provided by investing activities | | (3,338 | ) | (31,344 | ) | (6,287 | ) | 3,338 |
| (37,631 | ) | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | Repayment of senior notes | | — |
| (226,874 | ) | — |
| — |
| (226,874 | ) | Proceeds from issuance of senior notes | | — |
| 300,000 |
| — |
| — |
| 300,000 |
| Proceeds from bank borrowings - homebuilding operations | | — |
| 417,300 |
| — |
| — |
| 417,300 |
| Principal repayments of bank borrowings - homebuilding operations | | — |
| (403,500 | ) | — |
| — |
| (403,500 | ) | Net proceeds from bank borrowings - financial services operations | | — |
| — |
| 38,269 |
| — |
| 38,269 |
| Principal proceeds from notes payable - other and CDD bond obligations | | — |
| (1,077 | ) | — |
| — |
| (1,077 | ) | Dividends paid | | (4,875 | ) | — |
| (7,178 | ) | 7,178 |
| (4,875 | ) | Intercompany financing | | — |
| 5,929 |
| 5,360 |
| (11,289 | ) | — |
| Debt issue costs | | — |
| (5,740 | ) | (78 | ) | — |
| (5,818 | ) | Proceeds from exercise of stock options | | 1,035 |
| — |
| — |
| — |
| 1,035 |
| Net cash (used in) provided by financing activities | | (3,840 | ) | 86,038 |
| 36,373 |
| (4,111 | ) | 114,460 |
| | | | | | | | Net decrease in cash and cash equivalents | | — |
| (3,872 | ) | 6,493 |
| (7,951 | ) | (5,330 | ) | Cash and cash equivalents balance at beginning of period | | — |
| 3,872 |
| 11,663 |
| — |
| 15,535 |
| Cash and cash equivalents balance at end of period | | $ | — |
| $ | — |
| $ | 18,156 |
| $ | (7,951 | ) | $ | 10,205 |
|
| | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | | | | | | | | | | Year Ended December 31, 2014 | (In thousands) | | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated | | | | | | | | CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | Net cash provided by (used in) operating activities | | $ | 10,200 |
| $ | (143,672 | ) | $ | 10,997 |
| $ | (10,200 | ) | $ | (132,675 | ) | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | Restricted cash | | — |
| 7,122 |
| — |
| — |
| 7,122 |
| Purchase of property and equipment | | — |
| (2,793 | ) | (153 | ) | — |
| (2,946 | ) | Intercompany investing | | (7,269 | ) | — |
| — |
| 7,269 |
| — |
| Investments in and advances to unconsolidated joint ventures | | — |
| (14,435 | ) | (5,980 | ) | — |
| (20,415 | ) | Return of capital from unconsolidated joint ventures | | — |
| 275 |
| 1,248 |
| — |
| 1,523 |
| Net proceeds from the sale of mortgage servicing rights | | — |
| — |
| 2,135 |
| — |
| 2,135 |
| Net cash (used in) provided by investing activities | | (7,269 | ) | (9,831 | ) | (2,750 | ) | 7,269 |
| (12,581 | ) | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | Proceeds from bank borrowings - homebuilding operations | | — |
| 192,600 |
| — |
| — |
| 192,600 |
| Principal repayments of bank borrowings - homebuilding operations | | — |
| (162,600 | ) | — |
| — |
| (162,600 | ) | Net proceeds from bank borrowings - financial services operations | | — |
| — |
| 5,350 |
| — |
| 5,350 |
| Principal repayments of notes payable - other and CDD bond obligations | | — |
| 1,728 |
| — |
| — |
| 1,728 |
| Dividends paid | | (4,875 | ) | — |
| (10,200 | ) | 10,200 |
| (4,875 | ) | Intercompany financing | | — |
| 14,244 |
| (6,975 | ) | (7,269 | ) | — |
| Debt issue costs | | — |
| (2,004 | ) | (77 | ) | — |
| (2,081 | ) | Proceeds from exercise of stock options | | 1,944 |
| — |
| — |
| — |
| 1,944 |
| Net cash (used in) provided by financing activities | | (2,931 | ) | 43,968 |
| (11,902 | ) | 2,931 |
| 32,066 |
| | | | | | | | Net decrease in cash and cash equivalents | | — |
| (109,535 | ) | (3,655 | ) | — |
| (113,190 | ) | Cash and cash equivalents balance at beginning of period | | — |
| 113,407 |
| 15,318 |
| — |
| 128,725 |
| Cash and cash equivalents balance at end of period | | $ | — |
| $ | 3,872 |
| $ | 11,663 |
| $ | — |
| $ | 15,535 |
|
| | | | | | | | | | | | | | | | | | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | | | | | | | | | | Year Ended December 31, 2013 | (In thousands) | | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated | | | | | | | | CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | Net cash provided by (used in) operating activities | | $ | 7,100 |
| $ | (72,633 | ) | $ | (1,341 | ) | $ | (7,100 | ) | $ | (73,974 | ) | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | Restricted cash | | — |
| (5,185 | ) | — |
| — |
| (5,185 | ) | Purchase of property and equipment | | — |
| (2,146 | ) | (236 | ) | — |
| (2,382 | ) | Investments in and advances to unconsolidated joint ventures | | — |
| (13,525 | ) | (15,984 | ) | — |
| (29,509 | ) | Return of capital from unconsolidated joint ventures | | — |
| — |
| 1,522 |
| — |
| 1,522 |
| Net cash used in investing activities | | — |
| (20,856 | ) | (14,698 | ) | — |
| (35,554 | ) | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | Proceeds from issuance of convertible senior subordinated notes due 2018 | | 86,250 |
| — |
| — |
| — |
| 86,250 |
| Proceeds from issuance of common shares | | 54,617 |
| — |
| — |
| — |
| 54,617 |
| Redemption of preferred shares | | (50,352 | ) | — |
| — |
| — |
| (50,352 | ) | Net proceeds from bank borrowings - financial services operations | | — |
| — |
| 12,072 |
| — |
| 12,072 |
| Principal proceeds from note payable - other and CDD bond obligations | | — |
| (3,315 | ) | — |
| — |
| (3,315 | ) | Dividends paid | | (3,656 | ) | — |
| (7,100 | ) | 7,100 |
| (3,656 | ) | Intercompany financing | | (96,599 | ) | 89,279 |
| 7,320 |
| — |
| — |
| Debt issue costs | | — |
| (5,402 | ) | (99 | ) | — |
| (5,501 | ) | Proceeds from exercise of stock options | | 2,640 |
| — |
| — |
| — |
| 2,640 |
| Net cash (used in) provided by financing activities | | (7,100 | ) | 80,562 |
| 12,193 |
| 7,100 |
| 92,755 |
| | | | | | | | Net increase in cash and cash equivalents | | — |
| (12,927 | ) | (3,846 | ) | — |
| (16,773 | ) | Cash and cash equivalents balance at beginning of period | | — |
| 126,334 |
| 19,164 |
| — |
| 145,498 |
| Cash and cash equivalents balance at end of period | | $ | — |
| $ | 113,407 |
| $ | 15,318 |
| $ | — |
| $ | 128,725 |
|
|