SUPPLEMENTAL GUARANTOR INFORMATION

All of the Company's senior notes and the unsecured revolving credit facility are fully and unconditionally guaranteed, on a joint and several basis, by substantially all of the Company's homebuilding subsidiaries (collectively, Guarantor Subsidiaries). Each of the Guarantor Subsidiaries is 100% owned, directly or indirectly, by the Company. The Company's subsidiaries engaged in the financial services segment and certain other subsidiaries do not guarantee the Company's senior notes and the unsecured revolving credit facility (collectively, Non-Guarantor Subsidiaries). In lieu of providing separate financial statements for the Guarantor Subsidiaries, consolidating condensed financial statements are presented below. Separate financial statements and other disclosures concerning the Guarantor Subsidiaries are not presented because management has determined that they are not material to investors.

The guarantees by a Guarantor Subsidiary will be automatically and unconditionally released and discharged upon: (1) the sale or other disposition of its common stock whereby it is no longer a subsidiary of the Company; (2) the sale or other disposition of all or substantially all of its assets (other than to the Company or another Guarantor); (3) its merger or consolidation with an entity other than the Company or another Guarantor; or (4) depending on the provisions of the applicable indenture, either (a) its proper designation as an unrestricted subsidiary, (b) its ceasing to guarantee any of the Company's publicly traded debt securities, or (c) its ceasing to guarantee any of the Company's obligations under the revolving credit facility.

Consolidating Balance Sheet

September 30, 2014



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	497.4	$	89.5	$	74.9	$	—		$	661.8
Restricted cash	6.8		2.1		1.1		—			10.0
Investments in subsidiaries	2,878.2		—		—		(2,878.2		)	—
Inventories	2,675.9		5,014.3		10.3		—			7,700.5
Deferred income taxes	189.9		364.4		10.7		—			565.0
Property and equipment, net	51.9		49.1		89.8		—			190.8
Other assets	163.0		250.8		88.9		—			502.7
Mortgage loans held for sale	—		—		476.9		—			476.9
Goodwill	—		94.8		—		—			94.8
Intercompany receivables	2,364.2		—		—		(2,364.2		)	—
Total Assets	$	8,827.3	$	5,865.0	$	752.6	$	(5,242.4	)	$	10,202.5
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	409.8	$	853.3	$	136.9	$	—		$	1,400.0
Intercompany payables	—		2,282.2		82.0		(2,364.2		)	—
Notes payable	3,301.7		3.4		377.7		—			3,682.8
Total Liabilities	3,711.5		3,138.9		596.6		(2,364.2		)	5,082.8
Total stockholders’ equity	5,115.8		2,726.1		152.1		(2,878.2		)	5,115.8
Noncontrolling interests	—		—		3.9		—			3.9
Total Equity	5,115.8		2,726.1		156.0		(2,878.2		)	5,119.7
Total Liabilities & Equity	$	8,827.3	$	5,865.0	$	752.6	$	(5,242.4	)	$	10,202.5

NOTE O – 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	$	67.6	$	—		$	977.4
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		76.1		—			476.5
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 O – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Year Ended September 30, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	2,547.4		$	5,299.9		$	11.2		$	—		$	7,858.5
Cost of sales	2,038.0			4,222.5			8.1			—			6,268.6
Gross profit	509.4			1,077.4			3.1			—			1,589.9
Selling, general and administrative expense	388.3			433.0			12.9			—			834.2
Equity in (income) of subsidiaries	(691.8		)	—			—			691.8			—
Other (income)	(1.3		)	(3.3		)	(8.5		)	—			(13.1		)
Homebuilding pre-tax income (loss)	814.2			647.7			(1.3		)	(691.8		)	768.8
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			166.4			—			166.4
General and administrative expense	—			—			131.2			—			131.2
Interest and other (income)	—			—			(10.2		)	—			(10.2		)
Financial services pre-tax income	—			—			45.4			—			45.4
Income before income taxes	814.2			647.7			44.1			(691.8		)	814.2
Income tax expense	280.7			222.1			16.6			(238.7		)	280.7
Net income	$	533.5		$	425.6		$	27.5		$	(453.1	)	$	533.5
Comprehensive income	$	533.5		$	425.9		$	27.5		$	(453.1	)	$	533.8

NOTE O – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Year Ended September 30, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	1,981.6		$	4,094.1		$	10.2		$	—		$	6,085.9
Cost of sales	1,563.1			3,279.9			10.5			—			4,853.5
Gross profit (loss)	418.5			814.2			(0.3		)	—			1,232.4
Selling, general and administrative expense	302.1			341.1			6.7			—			649.9
Equity in (income) of subsidiaries	(542.5		)	—			—			542.5			—
Interest expense	5.1			—			—			—			5.1
Other (income)	(4.0		)	(3.7		)	(7.2		)	—			(14.9		)
Homebuilding pre-tax income	657.8			476.8			0.2			(542.5		)	592.3
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			173.4			—			173.4
General and administrative expense	—			—			116.4			—			116.4
Interest and other (income)	—			—			(8.5		)	—			(8.5		)
Financial services pre-tax income	—			—			65.5			—			65.5
Income before income taxes	657.8			476.8			65.7			(542.5		)	657.8
Income tax expense	195.1			126.9			18.7			(145.6		)	195.1
Net income	$	462.7		$	349.9		$	47.0		$	(396.9	)	$	462.7
Comprehensive income	$	462.5		$	351.8		$	47.0		$	(396.9	)	$	464.4

NOTE O – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Year Ended September 30, 2012



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	1,400.3		$	2,828.0		$	7.9		$	—		$	4,236.2
Cost of sales	1,130.9			2,341.5			20.0			—			3,492.4
Gross profit (loss)	269.4			486.5			(12.1		)	—			743.8
Selling, general and administrative expense	243.6			277.5			7.6			—			528.7
Equity in (income) of subsidiaries	(235.7		)	—			—			235.7			—
Interest expense	23.6			—			—			—			23.6
Other (income)	(5.0		)	(2.2		)	(5.0		)	—			(12.2		)
Homebuilding pre-tax income (loss)	242.9			211.2			(14.7		)	(235.7		)	203.7
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			117.8			—			117.8
General and administrative expense	—			—			85.5			—			85.5
Interest and other (income)	—			—			(6.9		)	—			(6.9		)
Financial services pre-tax income	—			—			39.2			—			39.2
Income before income taxes	242.9			211.2			24.5			(235.7		)	242.9
Income tax benefit	(713.4		)	(463.4		)	(20.6		)	484.0			(713.4		)
Net income	$	956.3		$	674.6		$	45.1		$	(719.7	)	$	956.3
Comprehensive income	$	956.4		$	674.6		$	45.1		$	(719.7	)	$	956.4

NOTE O – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Year Ended September 30, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash used in operating activities	$	(257.4	)	$	(293.9	)	$	(57.5	)	$	(52.6	)	$	(661.4	)
INVESTING ACTIVITIES
Purchases of property and equipment	(63.9		)	(28.0		)	(8.3		)	—			(100.2		)
Decrease (increase) in restricted cash	69.7			(0.9		)	(1.0		)	—			67.8
Net principal increase of other mortgage loans and real estate owned	—			—			(5.6		)	—			(5.6		)
Intercompany advances	(385.7		)	—			—			385.7			—
Payments related to acquisition of a business	(244.1		)	—			—			—			(244.1		)
Net cash used in investing activities	(624.0		)	(28.9		)	(14.9		)	385.7			(282.1		)
FINANCING ACTIVITIES
Proceeds from notes payable	1,307.0			—			120.6			—			1,427.6
Repayment of notes payable	(796.8		)	—			(0.1		)	—			(796.9		)
Intercompany advances	—			373.9			11.8			(385.7		)	—
Proceeds from stock associated with certain employee benefit plans	45.2			—			—			—			45.2
Excess income tax benefit from employee stock awards	0.6			—			—			—			0.6
Cash dividends paid	(48.6		)	—			(52.6		)	52.6			(48.6		)
Net cash provided by financing activities	507.4			373.9			79.7			(333.1		)	627.9
(Decrease) increase in cash and cash equivalents	(374.0		)	51.1			7.3			—			(315.6		)
Cash and cash equivalents at beginning of year	871.4			38.4			67.6			—			977.4
Cash and cash equivalents at end of year	$	497.4		$	89.5		$	74.9		$	—		$	661.8

NOTE O – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Year Ended September 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	$	(523.7	)	$	(670.6	)	$	5.0		$	(40.0	)	$	(1,229.3	)
INVESTING ACTIVITIES
Purchases of property and equipment	(29.7		)	(24.0		)	(4.3		)	—			(58.0		)
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	(27.8		)	(0.7		)	—			—			(28.5		)
Net principal increase of other mortgage loans and real estate owned	—			—			(2.5		)	—			(2.5		)
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	(674.4		)	—			—			674.4			—
Payments related to acquisition of a business	(9.4		)	—			—			—			(9.4		)
Net cash (used in) provided by investing activities	(462.0		)	(24.7		)	(6.8		)	674.4			180.9
FINANCING ACTIVITIES
Proceeds from notes payable	1,257.1			—			50.8			—			1,307.9
Repayment of notes payable	(345.1		)	—			—			—			(345.1		)
Intercompany advances	—			677.4			(3.0		)	(674.4		)	—
Proceeds from stock associated with certain employee benefit plans	29.7			—			—			—			29.7
Excess income tax benefit from employee stock awards	6.7			—			—			—			6.7
Cash dividends paid	(60.2		)	—			(40.0		)	40.0			(60.2		)
Net cash provided by financing activities	888.2			677.4			7.8			(634.4		)	939.0
(Decrease) increase in cash and cash equivalents	(97.5		)	(17.9		)	6.0			—			(109.4		)
Cash and cash equivalents at beginning of year	968.9			56.3			61.6			—			1,086.8
Cash and cash equivalents at end of year	$	871.4		$	38.4		$	67.6		$	—		$	977.4

NOTE O – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Year Ended September 30, 2012



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(115.2	)	$	(126.3	)	$	0.4		$	(51.1	)	$	(292.2	)
INVESTING ACTIVITIES
Purchases of property and equipment	(10.2		)	(7.6		)	(15.8		)	—			(33.6		)
Purchases of marketable securities	(240.8		)	—			—			—			(240.8		)
Proceeds from the sale or maturity of marketable securities	232.8			—			—			—			232.8
Increase in restricted cash	—			(0.1		)	(0.1		)	—			(0.2		)
Net principal increase of other mortgage loans and real estate owned	—			—			(4.7		)	—			(4.7		)
Intercompany advances	(168.3		)	—			—			168.3			—
Payments related to acquisition of a business	(96.5		)	—			—			—			(96.5		)
Net cash used in investing activities	(283.0		)	(7.7		)	(20.6		)	168.3			(143.0		)
FINANCING ACTIVITIES
Proceeds from notes payable	694.6			—			71.3			—			765.9
Repayment of notes payable	(11.9		)	(5.6		)	—			—			(17.5		)
Intercompany advances	—			164.6			3.7			(168.3		)	—
Proceeds from stock associated with certain employee benefit plans	50.9			—			—			—			50.9
Cash dividends paid	(47.8		)	—			(51.1		)	51.1			(47.8		)
Net cash provided by financing activities	685.8			159.0			23.9			(117.2		)	751.5
Increase in cash and cash equivalents	287.6			25.0			3.7			—			316.3
Cash and cash equivalents at beginning of year	681.3			31.3			57.9			—			770.5
Cash and cash equivalents at end of year	$	968.9		$	56.3		$	61.6		$	—		$	1,086.8