Consolidating Balance Sheet

December 31, 2015



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	1,166.1	$	34.2	$	68.4	$	—		$	1,268.7
Restricted cash	7.2		2.5		—		—			9.7
Investments in subsidiaries	3,569.1		—		—		(3,569.1		)	—
Inventories	2,679.2		5,383.7		25.3		—			8,088.2
Deferred income taxes	174.4		362.6		5.2		—			542.2
Property and equipment, net	58.4		52.5		36.7		—			147.6
Other assets	174.8		244.3		94.9		(2.5		)	511.5
Mortgage loans held for sale	—		—		524.4		—			524.4
Goodwill	—		87.2		—		—			87.2
Intercompany receivables	1,996.9		5.4		—		(2,002.3		)	—
Total Assets	$	9,826.1	$	6,172.4	$	754.9	$	(5,573.9	)	$	11,179.5
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	438.8	$	828.1	$	117.8	$	—		$	1,384.7
Intercompany payables	—		1,913.4		91.4		(2,004.8		)	—
Notes payable	3,327.9		9.3		397.1		—			3,734.3
Total Liabilities	3,766.7		2,750.8		606.3		(2,004.8		)	5,119.0
Stockholders’ equity	6,059.4		3,421.6		147.5		(3,569.1		)	6,059.4
Noncontrolling interests	—		—		1.1		—			1.1
Total Equity	6,059.4		3,421.6		148.6		(3,569.1		)	6,060.5
Total Liabilities & Equity	$	9,826.1	$	6,172.4	$	754.9	$	(5,573.9	)	$	11,179.5

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Balance Sheet

September 30, 2015



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	1,217.7	$	94.6	$	71.5	$	—		$	1,383.8
Restricted cash	7.4		2.3		—		—			9.7
Investments in subsidiaries	3,479.7		—		—		(3,479.7		)	—
Inventories	2,597.3		5,184.3		25.4		—			7,807.0
Deferred income taxes	179.9		373.0		5.2		—			558.1
Property and equipment, net	54.6		52.7		36.7		—			144.0
Other assets	199.5		240.4		90.3		—			530.2
Mortgage loans held for sale	—		—		631.0		—			631.0
Goodwill	—		87.2		—		—			87.2
Intercompany receivables	1,932.2		—		—		(1,932.2		)	—
Total Assets	$	9,668.3	$	6,034.5	$	860.1	$	(5,411.9	)	$	11,151.0
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	447.2	$	872.8	$	124.1	$	—		$	1,444.1
Intercompany payables	—		1,856.7		75.5		(1,932.2		)	—
Notes payable	3,326.8		6.8		477.9		—			3,811.5
Total Liabilities	3,774.0		2,736.3		677.5		(1,932.2		)	5,255.6
Stockholders’ equity	5,894.3		3,298.2		181.5		(3,479.7		)	5,894.3
Noncontrolling interests	—		—		1.1		—			1.1
Total Equity	5,894.3		3,298.2		182.6		(3,479.7		)	5,895.4
Total Liabilities & Equity	$	9,668.3	$	6,034.5	$	860.1	$	(5,411.9	)	$	11,151.0

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended December 31, 2015



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	795.6		$	1,570.9		$	—		$	(5.4	)	$	2,361.1
Cost of sales	638.9			1,253.8			2.4			(2.9		)	1,892.2
Gross profit (loss)	156.7			317.1			(2.4		)	(2.5		)	468.9
Selling, general and administrative expense	111.9			129.2			2.2			—			243.3
Equity in (income) of subsidiaries	(195.7		)	—			—			195.7			—
Other (income)	(0.8		)	(0.7		)	(1.9		)	—			(3.4		)
Homebuilding pre-tax income (loss)	241.3			188.6			(2.7		)	(198.2		)	229.0
Financial Services:
Revenues	—			—			55.3			—			55.3
General and administrative expense	—			—			46.1			—			46.1
Interest and other (income)	—			—			(3.1		)	—			(3.1		)
Financial services pre-tax income	—			—			12.3			—			12.3
Income before income taxes	241.3			188.6			9.6			(198.2		)	241.3
Income tax expense	83.6			65.1			3.7			(68.8		)	83.6
Net income	$	157.7		$	123.5		$	5.9		$	(129.4	)	$	157.7
Comprehensive income	$	158.9		$	123.5		$	5.9		$	(129.4	)	$	158.9

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended December 31, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	696.8		$	1,556.2		$	—		$	—		$	2,253.0
Cost of sales	554.0			1,257.0			3.4			—			1,814.4
Gross profit (loss)	142.8			299.2			(3.4		)	—			438.6
Selling, general and administrative expense	110.2			121.2			6.6			—			238.0
Equity in (income) of subsidiaries	(187.8		)	—			—			187.8			—
Other (income)	(0.3		)	(1.3		)	(3.9		)	—			(5.5		)
Homebuilding pre-tax income (loss)	220.7			179.3			(6.1		)	(187.8		)	206.1
Financial Services:
Revenues	—			—			49.6			—			49.6
General and administrative expense	—			—			37.8			—			37.8
Interest and other (income)	—			—			(2.8		)	—			(2.8		)
Financial services pre-tax income	—			—			14.6			—			14.6
Income before income taxes	220.7			179.3			8.5			(187.8		)	220.7
Income tax expense	78.2			63.2			3.4			(66.6		)	78.2
Net income	$	142.5		$	116.1		$	5.1		$	(121.2	)	$	142.5
Comprehensive income	$	142.5		$	116.1		$	5.1		$	(121.2	)	$	142.5

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Three Months Ended December 31, 2015



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	35.7		$	(111.3	)	$	114.1		$	(40.0	)	$	(1.5	)
INVESTING ACTIVITIES
Purchases of property and equipment	(10.6		)	(4.7		)	(4.8		)	—			(20.1		)
Decrease (increase) in restricted cash	0.1			(0.1		)	—			—			—
Net principal increase of other mortgage loans and real estate owned	—			—			(2.1		)	—			(2.1		)
Intercompany advances	(66.4		)	—			—			66.4			—
Net cash used in investing activities	(76.9		)	(4.8		)	(6.9		)	66.4			(22.2		)
FINANCING ACTIVITIES
Repayment of notes payable	—			(0.2		)	(80.8		)	—			(81.0		)
Intercompany advances	—			55.9			10.5			(66.4		)	—
Proceeds from stock associated with certain employee benefit plans	17.0			—			—			—			17.0
Excess income tax benefit from employee stock awards	2.2			—			—			—			2.2
Cash dividends paid	(29.6		)	—			(40.0		)	40.0			(29.6		)
Net cash (used in) provided by financing activities	(10.4		)	55.7			(110.3		)	(26.4		)	(91.4		)
Decrease in cash and cash equivalents	(51.6		)	(60.4		)	(3.1		)	—			(115.1		)
Cash and cash equivalents at beginning of period	1,217.7			94.6			71.5			—			1,383.8
Cash and cash equivalents at end of period	$	1,166.1		$	34.2		$	68.4		$	—		$	1,268.7

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Three Months Ended December 31, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(28.9	)	$	(107.7	)	$	22.6		$	(15.0	)	$	(129.0	)
INVESTING ACTIVITIES
Purchases of property and equipment	(7.5		)	(3.8		)	—			—			(11.3		)
Decrease in restricted cash	0.4			—			—			—			0.4
Net principal increase of other mortgage loans and real estate owned	—			—			(3.0		)	—			(3.0		)
Intercompany advances	(94.9		)	—			—			94.9			—
Net cash used in investing activities	(102.0		)	(3.8		)	(3.0		)	94.9			(13.9		)
FINANCING ACTIVITIES
Proceeds from notes payable	490.0			—			—			—			490.0
Repayment of notes payable	(415.0		)	(0.3		)	(35.6		)	—			(450.9		)
Intercompany advances	—			64.8			30.1			(94.9		)	—
Proceeds from stock associated with certain employee benefit plans	4.6			—			—			—			4.6
Excess income tax benefit from employee stock awards	1.2			—			—			—			1.2
Cash dividends paid	(22.8		)	—			(15.0		)	15.0			(22.8		)
Net cash provided by (used in) financing activities	58.0			64.5			(20.5		)	(79.9		)	22.1
Decrease in cash and cash equivalents	(72.9		)	(47.0		)	(0.9		)	—			(120.8		)
Cash and cash equivalents at beginning of period	497.4			89.5			74.9			—			661.8
Cash and cash equivalents at end of period	$	424.5		$	42.5		$	74.0		$	—		$	541.0