nsolidating Balance Sheet

December 31, 2013



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	777.1	$	19.8	$	23.2	$	—		$	820.1
Restricted cash	80.2		0.9		—		—			81.1
Investments in subsidiaries	2,538.7		—		—		(2,538.7		)	—
Inventories	2,344.1		4,135.8		16.2		—			6,496.1
Deferred income taxes	205.0		373.5		—		—			578.5
Property and equipment, net	44.1		40.0		33.4		—			117.5
Other assets	152.0		230.2		110.7		—			492.9
Mortgage loans held for sale	—		—		299.8		—			299.8
Goodwill	—		41.2		—		—			41.2
Intercompany receivables	1,726.9		—		—		(1,726.9		)	—
Total Assets	$	7,868.1	$	4,841.4	$	483.3	$	(4,265.6	)	$	8,927.2
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	398.9	$	744.2	$	122.3	$	—		$	1,265.4
Intercompany payables	—		1,696.7		30.2		(1,726.9		)	—
Notes payable	3,272.4		3.7		185.8		—			3,461.9
Total Liabilities	3,671.3		2,444.6		338.3		(1,726.9		)	4,727.3
Total stockholders’ equity	4,196.8		2,396.8		141.9		(2,538.7		)	4,196.8
Noncontrolling interests	—		—		3.1		—			3.1
Total Equity	4,196.8		2,396.8		145.0		(2,538.7		)	4,199.9
Total Liabilities & Equity	$	7,868.1	$	4,841.4	$	483.3	$	(4,265.6	)	$	8,927.2

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Balance Sheet

September 30, 2013



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	871.4	$	38.4	$	26.7	$	—		$	936.5
Restricted cash	76.5		1.2		0.1		—			77.8
Investments in subsidiaries	2,477.7		—		—		(2,477.7		)	—
Inventories	2,177.4		4,002.9		17.1		—			6,197.4
Deferred income taxes	201.7		384.9		—		—			586.6
Property and equipment, net	41.0		34.5		31.2		—			106.7
Other assets	167.0		233.4		117.0		—			517.4
Mortgage loans held for sale	—		—		395.1		—			395.1
Goodwill	—		38.9		—		—			38.9
Intercompany receivables	1,697.0		—		—		(1,697.0		)	—
Total Assets	$	7,709.7	$	4,734.2	$	587.2	$	(4,174.7	)	$	8,856.4
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	383.8	$	766.5	$	135.7	$	—		$	1,286.0
Intercompany payables	—		1,664.2		32.8		(1,697.0		)	—
Notes payable	3,267.4		3.0		238.6		—			3,509.0
Total Liabilities	3,651.2		2,433.7		407.1		(1,697.0		)	4,795.0
Total stockholders’ equity	4,058.5		2,300.5		177.2		(2,477.7		)	4,058.5
Noncontrolling interests	—		—		2.9		—			2.9
Total Equity	4,058.5		2,300.5		180.1		(2,477.7		)	4,061.4
Total Liabilities & Equity	$	7,709.7	$	4,734.2	$	587.2	$	(4,174.7	)	$	8,856.4

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended December 31, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	552.1		$	1,080.2		$	3.3		$	—		$	1,635.6
Cost of sales	429.6			840.3			3.7			—			1,273.6
Gross profit (loss)	122.5			239.9			(0.4		)	—			362.0
Selling, general and administrative expense	88.9			92.6			1.9			—			183.4
Equity in (income) of subsidiaries	(155.6		)	—			—			155.6			—
Other (income)	(0.5		)	(0.9		)	(1.9		)	—			(3.3		)
Homebuilding pre-tax income	189.7			148.2			(0.4		)	(155.6		)	181.9
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			35.0			—			35.0
General and administrative expense	—			—			29.8			—			29.8
Interest and other (income)	—			—			(2.6		)	—			(2.6		)
Financial services pre-tax income	—			—			7.8			—			7.8
Income before income taxes	189.7			148.2			7.4			(155.6		)	189.7
Income tax expense	66.5			52.0			2.6			(54.6		)	66.5
Net income	$	123.2		$	96.2		$	4.8		$	(101.0	)	$	123.2
Comprehensive income	$	123.2		$	96.2		$	4.8		$	(101.0	)	$	123.2

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended December 31, 2012



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	406.2		$	823.6		$	3.4		$	—		$	1,233.2
Cost of sales	327.0			665.7			9.6			—			1,002.3
Gross profit (loss)	79.2			157.9			(6.2		)	—			230.9
Selling, general and administrative expense	64.0			75.1			1.7			—			140.8
Equity in (income) of subsidiaries	(94.9		)	—			—			94.9			—
Interest expense	3.2			—			—			—			3.2
Other (income)	(1.0		)	(1.1		)	(1.2		)	—			(3.3		)
Homebuilding pre-tax income	107.9			83.9			(6.7		)	(94.9		)	90.2
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			41.9			—			41.9
General and administrative expense	—			—			25.7			—			25.7
Interest and other (income)	—			—			(1.5		)	—			(1.5		)
Financial services pre-tax income	—			—			17.7			—			17.7
Income before income taxes	107.9			83.9			11.0			(94.9		)	107.9
Income tax expense	41.6			26.8			1.5			(28.3		)	41.6
Net income	$	66.3		$	57.1		$	9.5		$	(66.6	)	$	66.3
Comprehensive income	$	66.2		$	57.1		$	9.5		$	(66.6	)	$	66.2

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Three Months Ended December 31, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(23.5	)	$	(40.3	)	$	96.3		$	(40.0	)	$	(7.5	)
INVESTING ACTIVITIES
Purchases of property and equipment	(6.4		)	(8.6		)	(3.3		)	—			(18.3		)
(Increase) decrease in restricted cash	(3.7		)	0.3			0.1			—			(3.3		)
Net principal increase of other mortgage loans and real estate owned	—			—			(1.2		)	—			(1.2		)
Intercompany advances	(27.4		)	—			—			27.4			—
Payments related to acquisition of a business	(34.5		)	—			—			—			(34.5		)
Net cash used in investing activities	(72.0		)	(8.3		)	(4.4		)	27.4			(57.3		)
FINANCING ACTIVITIES
Repayment of notes payable	(3.0		)	—			(52.8		)	—			(55.8		)
Intercompany advances	—			30.0			(2.6		)	(27.4		)	—
Proceeds from stock associated with certain employee benefit plans	3.3			—			—			—			3.3
Income tax benefit from employee stock awards	0.9			—			—			—			0.9
Cash dividends paid	—			—			(40.0		)	40.0			—
Net cash provided by (used in) financing activities	1.2			30.0			(95.4		)	12.6			(51.6		)
Decrease in cash and cash equivalents	(94.3		)	(18.6		)	(3.5		)	—			(116.4		)
Cash and cash equivalents at beginning of period	871.4			38.4			26.7			—			936.5
Cash and cash equivalents at end of period	$	777.1		$	19.8		$	23.2		$	—		$	820.1

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Three Months Ended December 31, 2012



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(186.2	)	$	(491.3	)	$	51.0		$	(30.0	)	$	(656.5	)
INVESTING ACTIVITIES
Purchases of property and equipment	(6.5		)	(3.7		)	(3.8		)	—			(14.0		)
Purchases of marketable securities	(26.8		)	—			—			—			(26.8		)
Proceeds from the sale or maturity of marketable securities	226.7			—			—			—			226.7
Increase in restricted cash	(5.3		)	(0.2		)	—			—			(5.5		)
Net principal increase of other mortgage loans and real estate owned	—			—			(0.2		)	—			(0.2		)
Purchase of debt securities collateralized by residential real estate	(18.6		)	—			—			—			(18.6		)
Intercompany advances	(458.1		)	—			—			458.1			—
Payments related to acquisition of a business	(9.4		)	—			—			—			(9.4		)
Net cash (used in) provided by investing activities	(298.0		)	(3.9		)	(4.0		)	458.1			152.2
FINANCING ACTIVITIES
Proceeds from (repayment of) notes payable	100.0			—			(18.4		)	—			81.6
Intercompany advances	—			457.8			0.3			(458.1		)	—
Proceeds from stock associated with certain employee benefit plans	2.1			—			—			—			2.1
Cash dividends paid	(60.2		)	—			(30.0		)	30.0			(60.2		)
Net cash provided by (used in) financing activities	41.9			457.8			(48.1		)	(428.1		)	23.5
Decrease in cash and cash equivalents	(442.3		)	(37.4		)	(1.1		)	—			(480.8		)
Cash and cash equivalents at beginning of period	968.9			56.3			22.5			—			1,047.7
Cash and cash equivalents at end of period	$	526.6		$	18.9		$	21.4		$	—		$	566.9