Consolidating Balance Sheet

June 30, 2014



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	467.5	$	65.1	$	42.4	$	—		$	575.0
Restricted cash	18.3		1.8		—		—			20.1
Investments in subsidiaries	2,742.6		—		—		(2,742.6		)	—
Inventories	2,624.0		4,740.5		11.1		—			7,375.6
Deferred income taxes	201.6		381.0		—		—			582.6
Property and equipment, net	47.8		49.2		35.9		—			132.9
Other assets	147.9		252.7		115.8		—			516.4
Mortgage loans held for sale	—		—		419.2		—			419.2
Goodwill	—		94.8		—		—			94.8
Intercompany receivables	2,248.6		—		—		(2,248.6		)	—
Total Assets	$	8,498.3	$	5,585.1	$	624.4	$	(4,991.2	)	$	9,716.6
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	392.6	$	776.0	$	132.8	$	—		$	1,301.4
Intercompany payables	—		2,219.5		29.1		(2,248.6		)	—
Notes payable	3,139.5		2.9		302.9		—			3,445.3
Total Liabilities	3,532.1		2,998.4		464.8		(2,248.6		)	4,746.7
Total stockholders’ equity	4,966.2		2,586.7		155.9		(2,742.6		)	4,966.2
Noncontrolling interests	—		—		3.7		—			3.7
Total Equity	4,966.2		2,586.7		159.6		(2,742.6		)	4,969.9
Total Liabilities & Equity	$	8,498.3	$	5,585.1	$	624.4	$	(4,991.2	)	$	9,716.6

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 June 30, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	653.8		$	1,445.5		$	3.6		$	—		$	2,102.9
Cost of sales	523.2			1,198.8			3.5			—			1,725.5
Gross profit	130.6			246.7			0.1			—			377.4
Selling, general and administrative expense	102.3			116.0			3.6			—			221.9
Equity in (income) of subsidiaries	(143.2		)	—			—			143.2			—
Other (income)	(0.3		)	(0.9		)	(1.9		)	—			(3.1		)
Homebuilding pre-tax income (loss)	171.8			131.6			(1.6		)	(143.2		)	158.6
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			44.1			—			44.1
General and administrative expense	—			—			33.8			—			33.8
Interest and other (income)	—			—			(2.9		)	—			(2.9		)
Financial services pre-tax income	—			—			13.2			—			13.2
Income before income taxes	171.8			131.6			11.6			(143.2		)	171.8
Income tax expense	58.7			44.9			4.1			(49.0		)	58.7
Net income	$	113.1		$	86.7		$	7.5		$	(94.2	)	$	113.1
Comprehensive income	$	113.1		$	86.7		$	7.5		$	(94.2	)	$	113.1

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Nine Months Ended June 30, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	1,780.0		$	3,645.4		$	9.7		$	—		$	5,435.1
Cost of sales	1,406.1			2,903.3			9.5			—			4,318.9
Gross profit	373.9			742.1			0.2			—			1,116.2
Selling, general and administrative expense	279.4			306.0			7.8			—			593.2
Equity in (income) of subsidiaries	(467.8		)	—			—			467.8			—
Other (income)	(1.1		)	(2.8		)	(5.3		)	—			(9.2		)
Homebuilding pre-tax income (loss)	563.4			438.9			(2.3		)	(467.8		)	532.2
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			117.4			—			117.4
General and administrative expense	—			—			93.7			—			93.7
Interest and other (income)	—			—			(7.5		)	—			(7.5		)
Financial services pre-tax income	—			—			31.2			—			31.2
Income before income taxes	563.4			438.9			28.9			(467.8		)	563.4
Income tax expense	196.1			152.8			10.1			(162.9		)	196.1
Net income	$	367.3		$	286.1		$	18.8		$	(304.9	)	$	367.3
Comprehensive income	$	367.3		$	286.4		$	18.8		$	(304.9	)	$	367.6

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended June 30, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	534.1		$	1,107.6		$	2.8		$	—		$	1,644.5
Cost of sales	412.7			878.4			4.3			—			1,295.4
Gross profit (loss)	121.4			229.2			(1.5		)	—			349.1
Selling, general and administrative expense	78.3			87.4			1.8			—			167.5
Equity in (income) of subsidiaries	(161.4		)	—			—			161.4			—
Other (income)	(0.6		)	(1.5		)	(1.7		)	—			(3.8		)
Homebuilding pre-tax income (loss)	205.1			143.3			(1.6		)	(161.4		)	185.4
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			48.3			—			48.3
General and administrative expense	—			—			31.3			—			31.3
Interest and other (income)	—			—			(2.7		)	—			(2.7		)
Financial services pre-tax income	—			—			19.7			—			19.7
Income before income taxes	205.1			143.3			18.1			(161.4		)	205.1
Income tax expense	59.1			38.7			1.9			(40.6		)	59.1
Net income	$	146.0		$	104.6		$	16.2		$	(120.8	)	$	146.0
Comprehensive income	$	146.0		$	106.5		$	16.2		$	(120.8	)	$	147.9

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Nine Months Ended June 30, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	1,381.7		$	2,878.2		$	8.2		$	—		$	4,268.1
Cost of sales	1,094.3			2,300.3			12.4			—			3,407.0
Gross profit (loss)	287.4			577.9			(4.2		)	—			861.1
Selling, general and administrative expense	217.8			240.7			4.8			—			463.3
Equity in (income) of subsidiaries	(388.6		)	—			—			388.6			—
Interest expense	5.1			—			—			—			5.1
Other (income)	(2.0		)	(3.8		)	(4.5		)	—			(10.3		)
Homebuilding pre-tax income (loss)	455.1			341.0			(4.5		)	(388.6		)	403.0
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			131.3			—			131.3
General and administrative expense	—			—			84.9			—			84.9
Interest and other (income)	—			—			(5.7		)	—			(5.7		)
Financial services pre-tax income	—			—			52.1			—			52.1
Income before income taxes	455.1			341.0			47.6			(388.6		)	455.1
Income tax expense	131.9			86.3			4.2			(90.5		)	131.9
Net income	$	323.2		$	254.7		$	43.4		$	(298.1	)	$	323.2
Comprehensive income	$	323.0		$	256.6		$	43.4		$	(298.1	)	$	324.9

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Nine Months Ended June 30, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(259.5	)	$	(281.7	)	$	6.1		$	(40.0	)	$	(575.1	)
INVESTING ACTIVITIES
Purchases of property and equipment	(17.9		)	(23.7		)	(8.3		)	—			(49.9		)
Decrease (increase) in restricted cash	58.2			(0.6		)	0.1			—			57.7
Net principal increase of other mortgage loans and real estate owned	—			—			(2.8		)	—			(2.8		)
Intercompany advances	(329.0		)	—			—			329.0			—
Payments related to acquisition of a business	(222.7		)	—			—			—			(222.7		)
Net cash used in investing activities	(511.4		)	(24.3		)	(11.0		)	329.0			(217.7		)
FINANCING ACTIVITIES
Proceeds from notes payable	622.0			—			64.3			—			686.3
Repayment of notes payable	(273.9		)	—			—			—			(273.9		)
Intercompany advances	—			332.7			(3.7		)	(329.0		)	—
Proceeds from stock associated with certain employee benefit plans	43.1			—			—			—			43.1
Excess income tax benefit from employee stock awards	1.6			—			—			—			1.6
Cash dividends paid	(25.8		)	—			(40.0		)	40.0			(25.8		)
Net cash provided by financing activities	367.0			332.7			20.6			(289.0		)	431.3
(Decrease) increase in cash and cash equivalents	(403.9		)	26.7			15.7			—			(361.5		)
Cash and cash equivalents at beginning of period	871.4			38.4			26.7			—			936.5
Cash and cash equivalents at end of period	$	467.5		$	65.1		$	42.4		$	—		$	575.0

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Nine Months Ended June 30, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(440.1	)	$	(688.7	)	$	22.5		$	(30.0	)	$	(1,136.3	)
INVESTING ACTIVITIES
Purchases of property and equipment	(21.7		)	(15.4		)	(3.5		)	—			(40.6		)
Purchases of marketable securities	(28.9		)	—			—			—			(28.9		)
Proceeds from the sale or maturity of marketable securities	325.4			—			—			—			325.4
Increase in restricted cash	(18.5		)	(0.8		)	—			—			(19.3		)
Net principal increase of other mortgage loans and real estate owned	—			—			(1.0		)	—			(1.0		)
Purchase of debt securities collateralized by residential real estate	—			(18.6		)	—			—			(18.6		)
Principal payments received on debt securities collateralized by residential real estate	—			1.4			—			—			1.4
Intercompany advances	(714.3		)	—			—			714.3			—
Payments related to acquisition of a business	(9.4		)	—			—			—			(9.4		)
Net cash used in investing activities	(467.4		)	(33.4		)	(4.5		)	714.3			209.0
FINANCING ACTIVITIES
Proceeds from notes payable	860.1			—			31.9			—			892.0
Repayment of notes payable	(342.1		)	—			—			—			(342.1		)
Intercompany advances	—			724.2			(9.9		)	(714.3		)	—
Proceeds from stock associated with certain employee benefit plans	27.9			—			—			—			27.9
Cash dividends paid	(60.2		)	—			(30.0		)	30.0			(60.2		)
Net cash provided by (used in) financing activities	485.7			724.2			(8.0		)	(684.3		)	517.6
(Decrease) increase in cash and cash equivalents	(421.8		)	2.1			10.0			—			(409.7		)
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	$	547.1		$	58.4		$	32.5		$	—		$	638.0