Consolidating Balance Sheet

June 30, 2016



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	717.0	$	99.1	$	90.7	$	—		$	906.8
Restricted cash	8.6		3.2		—		—			11.8
Investments in subsidiaries	3,927.7		—		—		(3,927.7		)	—
Inventories	2,861.5		5,576.6		66.1		—			8,504.2
Deferred income taxes	166.8		333.1		5.2		—			505.1
Property and equipment, net	66.2		48.5		37.0		—			151.7
Other assets	151.5		257.3		128.3		(5.2		)	531.9
Mortgage loans held for sale	—		—		634.5		—			634.5
Goodwill	—		87.2		—		—			87.2
Intercompany receivables	1,864.8		8.1		—		(1,872.9		)	—
Total Assets	$	9,764.1	$	6,413.1	$	961.8	$	(5,805.8	)	$	11,333.2
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	460.5	$	939.3	$	121.1	$	(1.8	)	$	1,519.1
Intercompany payables	—		1,718.4		154.5		(1,872.9		)	—
Notes payable	2,788.0		9.1		504.2		—			3,301.3
Total Liabilities	3,248.5		2,666.8		779.8		(1,874.7		)	4,820.4
Stockholders’ equity	6,515.6		3,746.3		181.4		(3,931.1		)	6,512.2
Noncontrolling interests	—		—		0.6		—			0.6
Total Equity	6,515.6		3,746.3		182.0		(3,931.1		)	6,512.8
Total Liabilities & Equity	$	9,764.1	$	6,413.1	$	961.8	$	(5,805.8	)	$	11,333.2

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 June 30, 2016



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	1,040.8		$	2,118.6		$	—		$	(10.6	)	$	3,148.8
Cost of sales	836.9			1,693.2			0.8			(7.9		)	2,523.0
Gross profit (loss)	203.9			425.4			(0.8		)	(2.7		)	625.8
Selling, general and administrative expense	126.6			151.5			2.3			—			280.4
Equity in (income) of subsidiaries	(303.3		)	—			—			303.3			—
Other (income)	(0.7		)	(0.6		)	(2.5		)	—			(3.8		)
Homebuilding pre-tax income (loss)	381.3			274.5			(0.6		)	(306.0		)	349.2
Financial Services:
Revenues	—			—			83.1			—			83.1
General and administrative expense	—			—			56.4			—			56.4
Interest and other (income)	—			—			(2.7		)	—			(2.7		)
Financial services pre-tax income	—			—			29.4			—			29.4
Income before income taxes	381.3			274.5			28.8			(306.0		)	378.6
Income tax expense	130.6			92.4			10.8			(105.0		)	128.8
Net income	$	250.7		$	182.1		$	18.0		$	(201.0	)	$	249.8
Comprehensive income	$	250.7		$	182.1		$	18.0		$	(201.0	)	$	249.8

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Nine Months Ended June 30, 2016



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	2,700.7		$	5,526.1		$	—		$	(16.0	)	$	8,210.8
Cost of sales	2,170.5			4,429.3			(4.7		)	(10.8		)	6,584.3
Gross profit	530.2			1,096.8			4.7			(5.2		)	1,626.5
Selling, general and administrative expense	357.4			418.4			6.2			—			782.0
Equity in (income) of subsidiaries	(745.9		)	—			—			745.9			—
Other (income)	(6.9		)	(3.4		)	(6.5		)	—			(16.8		)
Homebuilding pre-tax income	925.6			681.8			5.0			(751.1		)	861.3
Financial Services:
Revenues	—			—			205.4			—			205.4
General and administrative expense	—			—			153.5			—			153.5
Interest and other (income)	—			—			(7.2		)	—			(7.2		)
Financial services pre-tax income	—			—			59.1			—			59.1
Income before income taxes	925.6			681.8			64.1			(751.1		)	920.4
Income tax expense	319.6			234.0			23.9			(259.7		)	317.8
Net income	$	606.0		$	447.8		$	40.2		$	(491.4	)	$	602.6
Comprehensive income	$	604.6		$	447.8		$	40.2		$	(491.4	)	$	601.2

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended June 30, 2015



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	890.5		$	1,985.9		$	—		$	—		$	2,876.4
Cost of sales	718.0			1,601.0			1.4			—			2,320.4
Gross profit (loss)	172.5			384.9			(1.4		)	—			556.0
Selling, general and administrative expense	116.2			135.5			6.1			—			257.8
Equity in (income) of subsidiaries	(277.1		)	—			—			277.1			—
Other (income)	(0.4		)	(0.6		)	(2.9		)	—			(3.9		)
Homebuilding pre-tax income (loss)	333.8			250.0			(4.6		)	(277.1		)	302.1
Financial Services:
Revenues	—			—			74.4			—			74.4
General and administrative expense	—			—			46.0			—			46.0
Interest and other (income)	—			—			(3.3		)	—			(3.3		)
Financial services pre-tax income	—			—			31.7			—			31.7
Income before income taxes	333.8			250.0			27.1			(277.1		)	333.8
Income tax expense	112.4			83.0			10.3			(93.3		)	112.4
Net income	$	221.4		$	167.0		$	16.8		$	(183.8	)	$	221.4
Comprehensive income	$	221.4		$	167.0		$	16.8		$	(183.8	)	$	221.4

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Nine Months Ended June 30, 2015



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	2,314.4		$	5,153.6		$	—		$	—		$	7,468.0
Cost of sales	1,865.6			4,156.0			5.3			—			6,026.9
Gross profit (loss)	448.8			997.6			(5.3		)	—			1,441.1
Selling, general and administrative expense	338.9			381.0			18.3			—			738.2
Equity in (income) of subsidiaries	(673.4		)	—			—			673.4			—
Other (income)	(1.3		)	(3.1		)	(9.5		)	—			(13.9		)
Homebuilding pre-tax income (loss)	784.6			619.7			(14.1		)	(673.4		)	716.8
Financial Services:
Revenues	—			—			183.6			—			183.6
General and administrative expense	—			—			124.6			—			124.6
Interest and other (income)	—			—			(8.8		)	—			(8.8		)
Financial services pre-tax income	—			—			67.8			—			67.8
Income before income taxes	784.6			619.7			53.7			(673.4		)	784.6
Income tax expense	272.8			213.9			20.6			(234.5		)	272.8
Net income	$	511.8		$	405.8		$	33.1		$	(438.9	)	$	511.8
Comprehensive income	$	511.8		$	405.8		$	33.1		$	(438.9	)	$	511.8

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Nine Months Ended June 30, 2016



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(9.0	)	$	160.3		$	(17.3	)	$	(45.4	)	$	88.6
INVESTING ACTIVITIES
Purchases of property and equipment	(33.1		)	(15.6		)	(21.9		)	5.4			(65.2		)
Increase in restricted cash	(1.3		)	(0.8		)	—			—			(2.1		)
Net principal decrease of other mortgage loans and real estate owned	—			—			4.3			—			4.3
Proceeds from sale of debt securities collateralized by residential real estate	35.8			—			—			—			35.8
Intercompany advances	70.6			—			—			(70.6		)	—
Net cash provided by (used in) investing activities	72.0			(16.4		)	(17.6		)	(65.2		)	(27.2		)
FINANCING ACTIVITIES
Proceeds from notes payable	—			—			26.3			—			26.3
Repayment of notes payable	(542.9		)	(1.0		)	—			—			(543.9		)
Intercompany advances	—			(138.4		)	67.8			70.6			—
Proceeds from stock associated with certain employee benefit plans	61.8			—			—			—			61.8
Excess income tax benefit from employee stock awards	6.3			—			—			—			6.3
Cash dividends paid	(88.9		)	—			(40.0		)	40.0			(88.9		)
Net cash (used in) provided by financing activities	(563.7		)	(139.4		)	54.1			110.6			(538.4		)
(Decrease) increase in cash and cash equivalents	(500.7		)	4.5			19.2			—			(477.0		)
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	$	717.0		$	99.1		$	90.7		$	—		$	906.8

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Nine Months Ended June 30, 2015



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	164.7		$	127.1		$	(88.2	)	$	(15.0	)	$	188.6
INVESTING ACTIVITIES
Purchases of property and equipment	(21.4		)	(18.2		)	(3.7		)	—			(43.3		)
Increase in restricted cash	(1.2		)	(0.5		)	—			—			(1.7		)
Net principal increase of other mortgage loans and real estate owned	—			—			(6.3		)	—			(6.3		)
Purchases of debt securities collateralized by residential real estate	(14.8		)	—			—			—			(14.8		)
Intercompany advances	58.8			—			—			(58.8		)	—
Payments related to acquisition of a business	(68.7		)	—			—			—			(68.7		)
Net cash used in investing activities	(47.3		)	(18.7		)	(10.0		)	(58.8		)	(134.8		)
FINANCING ACTIVITIES
Proceeds from notes payable	1,472.0			—			88.8			—			1,560.8
Repayment of notes payable	(1,433.0		)	(0.3		)	(0.2		)	—			(1,433.5		)
Intercompany advances	—			(93.9		)	35.1			58.8			—
Proceeds from stock associated with certain employee benefit plans	24.0			—			—			—			24.0
Excess income tax benefit from employee stock awards	7.3			—			—			—			7.3
Cash dividends paid	(68.6		)	—			(15.0		)	15.0			(68.6		)
Net cash provided by (used in) financing activities	1.7			(94.2		)	108.7			73.8			90.0
Increase in cash and cash equivalents	119.1			14.2			10.5			—			143.8
Cash and cash equivalents at beginning of period	497.4			89.5			74.9			—			661.8
Cash and cash equivalents at end of period	$	616.5		$	103.7		$	85.4		$	—		$	805.6