Supplemental Guarantor Information

6 Months Ended

Mar. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Supplemental Guarantor information

Supplemental Guarantor Information

As discussed in Note 7, our obligations to pay principal, premium, if any, and interest under certain debt are guaranteed on a joint and several basis by substantially all of our subsidiaries. Certain of our immaterial subsidiaries do not guarantee our Senior Notes or our Secured Revolving Credit Facility. The guarantees are full and unconditional and the guarantor subsidiaries are 100% owned by Beazer Homes USA, Inc.

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	423,377	$	5,551	$	514	$	(3,782	)	$	425,660
Restricted cash	246,201		541		—		—			246,742
Accounts receivable (net of allowance of $2,051)	—		25,063		7		—			25,070
Income tax receivable	2,513		—		—		—			2,513
Owned inventory	—		1,143,737		—		—			1,143,737
Consolidated inventory not owned	—		8,375		—		—			8,375
Investments in unconsolidated entities	773		41,041		—		—			41,814
Deferred tax assets, net	7,000		—		—		—			7,000
Property, plant and equipment, net	—		16,928		—		—			16,928
Investments in subsidiaries	79,504		—		—		(79,504		)	—
Intercompany	1,004,919		—		2,846		(1,007,765		)	—
Other assets	22,260		5,051		1,560		—			28,871
Total assets	$	1,786,547	$	1,246,287	$	4,927	$	(1,091,051	)	$	1,946,710
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	62,235	$	—	$	—		$	62,235
Other liabilities	53,746		85,478		1,578		—			140,802
Intercompany	1,077		1,010,470		—		(1,011,547		)	—
Obligations related to land not owned under option agreements	—		3,286		—		—			3,286
Total debt (net of discounts of $2,440)	1,498,490		8,663		—		—			1,507,153
Total liabilities	1,553,313		1,170,132		1,578		$	(1,011,547	)	1,713,476
Stockholders’ equity	233,234		76,155		3,349		(79,504		)	233,234
Total liabilities and stockholders’ equity	$	1,786,547	$	1,246,287	$	4,927	$	(1,091,051	)	$	1,946,710

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	481,394	$	8,215	$	646	$	(2,460	)	$	487,795
Restricted cash	252,900		360		—		—			253,260
Accounts receivable (net of allowance of $2,235)	—		24,594		5		—			24,599
Income tax receivable	6,372		—		—		—			6,372
Owned inventory	—		1,099,132		—		—			1,099,132
Consolidated inventory not owned	—		12,420		—		—			12,420
Investments in unconsolidated entities	773		41,305		—		—			42,078
Deferred tax assets, net	6,848		—		—		—			6,848
Property, plant and equipment, net	—		18,974		—		—			18,974
Investments in subsidiaries	63,120		—		—		(63,120		)	—
Intercompany	969,425		—		3,001		(972,426		)	—
Other assets	21,307		7,783		1,650		—			30,740
Total assets	$	1,802,139	$	1,212,783	$	5,302	$	(1,038,006	)	$	1,982,218
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	69,268	$	—	$	—		$	69,268
Other liabilities	49,354		96,389		1,975		—			147,718
Intercompany	1,098		973,788		—		(974,886		)	—
Obligations related to land not owned under option agreements	—		4,787		—		—			4,787
Total debt (net of discounts of $3,082)	1,489,440		8,758		—		—			1,498,198
Total liabilities	1,539,892		1,152,990		1,975		$	(974,886	)	1,719,971
Stockholders’ equity	262,247		59,793		3,327		(63,120		)	262,247
Total liabilities and stockholders’ equity	$	1,802,139	$	1,212,783	$	5,302	$	(1,038,006	)	$	1,982,218

Beazer Homes USA, Inc.

Unaudited Consolidating Statement of Operations Information

(In thousands)

	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2013
Total revenue	$	—		$	287,902		$	173		$	(173	)	$	287,902
Home construction and land sales expenses	9,352			232,813			—			(173		)	241,992
Inventory impairments and option contract abandonments	—			2,025			—			—			2,025
Gross (loss) profit	(9,352		)	53,064			173			—			43,885
Commissions	—			11,686			—			—			11,686
General and administrative expenses	—			28,762			33			—			28,795
Depreciation and amortization	—			3,093			—			—			3,093
Operating (loss) income	(9,352		)	9,523			140			—			311
Equity in income of unconsolidated entities	—			68			—			—			68
Loss on extinguishment of debt	(3,638		)	—			—			—			(3,638		)
Other (expense) income, net	(16,246		)	47			4			—			(16,195		)
(Loss) income before income taxes	(29,236		)	9,638			144			—			(19,454		)
(Benefit from) provision for income taxes	(583		)	193			47			—			(343		)
Equity in income (loss) of subsidiaries	9,542			—			—			(9,542		)	—
(Loss) income from continuing operations	(19,111		)	9,445			97			(9,542		)	(19,111		)
Loss from discontinued operations	—			(519		)	(10		)				(529		)
Equity in (loss) income of subsidiaries	(529		)	—			—			529			—
Net (loss) income	$	(19,640	)	$	8,926		$	87		$	(9,013	)	$	(19,640	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2012
Total revenue	$	—		$	191,643		$	241		$	(241	)	$	191,643
Home construction and land sales expenses	12,636			157,888			—			(241		)	170,283
Inventory impairments and option contract abandonments	25			1,145			—			—			1,170
Gross (loss) profit	(12,661		)	32,610			241			—			20,190
Commissions	—			8,375			—			—			8,375
General and administrative expenses	—			26,285			34			—			26,319
Depreciation and amortization	—			3,190			—			—			3,190
Operating (loss) income	(12,661		)	(5,240		)	207			—			(17,694		)
Equity in loss of unconsolidated entities	—			4			—			—			4
Loss on extinguishment of debt	(2,747		)	—			—			—			(2,747		)
Other (expense) income, net	(18,798		)	524			9			—			(18,265		)
(Loss) income before income taxes	(34,206		)	(4,712		)	216			—			(38,702		)
(Benefit from) provision for income taxes	(13,296		)	12,385			75			—			(836		)
Equity in (loss) income of subsidiaries	(16,956		)	—			—			16,956			—
(Loss) income from continuing operations	(37,866		)	(17,097		)	141			16,956			(37,866		)
Loss from discontinued operations	—			(2,078		)	(4		)	—			(2,082		)
Equity in (loss) income of subsidiaries	(2,082		)	—			—			2,082			—
Net (loss) income	$	(39,948	)	$	(19,175	)	$	137		$	19,038		$	(39,948	)

Beazer Homes USA, Inc.

Unaudited Consolidating Statement of Operations Information

(In thousands)

	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2013
Total revenue	$	—		$	534,804		$	390		$	(390	)	$	534,804
Home construction and land sales expenses	17,827			435,169			—			(390		)	452,606
Inventory impairments and option contract abandonments	—			2,229			—			—			2,229
Gross (loss) profit	(17,827		)	97,406			390			—			79,969
Commissions	—			22,328			—			—			22,328
General and administrative expenses	—			55,063			60			—			55,123
Depreciation and amortization	—			5,808			—			—			5,808
Operating (loss) income	(17,827		)	14,207			330			—			(3,290		)
Equity in income of unconsolidated entities	—			104			—			—			104
Loss on extinguishment of debt	(3,638		)	—			—			—			(3,638		)
Other (expense) income, net	(32,457		)	627			8			—			(31,822		)
(Loss) income before income taxes	(53,922		)	14,938			338			—			(38,646		)
(Benefit from) provision for income taxes	(1,014		)	281			137			—			(596		)
Equity in income (loss) of subsidiaries	14,858			—			—			(14,858		)	—
(Loss) income from continuing operations	(38,050		)	14,657			201			(14,858		)	(38,050		)
(Loss) income from discontinued operations	—			(2,010		)	32			—			(1,978		)
Equity in loss of subsidiaries	(1,978		)	—			—			1,978			—
Net (loss) income	$	(40,028	)	$	12,647		$	233		$	(12,880	)	$	(40,028	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2012
Total revenue	$	—		$	380,191		$	460		$	(460	)	$	380,191
Home construction and land sales expenses	25,479			308,040			—			(460		)	333,059
Inventory impairments and option contract abandonments	53			4,620			—			—			4,673
Gross (loss) profit	(25,532		)	67,531			460			—			42,459
Commissions	—			16,746			—			—			16,746
General and administrative expenses	—			54,451			62			—			54,513
Depreciation and amortization	—			5,593			—			—			5,593
Operating (loss) income	(25,532		)	(9,259		)	398			—			(34,393		)
Equity in loss of unconsolidated entities	—			(73		)	—			—			(73		)
Loss on extinguishment of debt	(2,747		)	—			—			—			(2,747		)
Other (expense) income, net	(37,914		)	1,357			19			—			(36,538		)
(Loss) income before income taxes	(66,193		)	(7,975		)	417			—			(73,751		)
(Benefit from) provision for income taxes	(25,729		)	(11,000		)	146			—			(36,583		)
Equity in income (loss) of subsidiaries	3,296			—			—			(3,296		)	—
(Loss) income from continuing operations	(37,168		)	3,025			271			(3,296		)	(37,168		)
Loss from discontinued operations	—			(2,034		)	(7		)	—			(2,041		)
Equity in loss of subsidiaries	(2,041		)	—			—			2,041			—
Net (loss) income	$	(39,209	)	$	991		$	264		$	(1,255	)	$	(39,209	)

	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2013
Net cash used in operating activities	$	(14,665	)	$	(61,595	)	$	(76	)	$	—		$	(76,336	)
Cash flows from investing activities:
Capital expenditures	—			(3,869		)	—			—			(3,869		)
Investments in unconsolidated entities	—			(400		)	—			—			(400		)
Return of capital from unconsolidated entities	—			432			—			—			432
Increases in restricted cash	(668		)	(376		)	—			—			(1,044		)
Decreases in restricted cash	7,367			195			—			—			7,562
Net cash provided by (used in) investing activities	6,699			(4,018		)	—			—			2,681
Cash flows from financing activities:
Repayment of debt	(183,224		)	(95		)	—			—			(183,319		)
Proceeds from issuance of new debt	200,000			—			—			—			200,000
Settlement of unconsolidated entity debt obligations	—			(500		)	—			—			(500		)
Debt issuance costs	(4,635		)	—			—			—			(4,635		)
Advances to/from subsidiaries	(62,166		)	63,544			(56		)	(1,322		)	—
Payments for other financing activities	(26		)	—			—			—			(26		)
Net cash (used in) provided by financing activities	(50,051		)	62,949			(56		)	(1,322		)	11,520
(Decrease) increase in cash and cash equivalents	(58,017		)	(2,664		)	(132		)	(1,322		)	(62,135		)
Cash and cash equivalents at beginning of period	481,394			8,215			646			(2,460		)	487,795
Cash and cash equivalents at end of period	$	423,377		$	5,551		$	514		$	(3,782	)	$	425,660
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2012
Net cash (used in) provided by operating activities	$	(102,064	)	$	21,676		$	362		$	—		$	(80,026	)
Cash flows from investing activities:
Capital expenditures	—			(12,488		)	—			—			(12,488		)
Investments in unconsolidated entities	—			(810		)	—			—			(810		)
Return of capital from unconsolidated entities	—			428			—			—			428
Increases in restricted cash	(255		)	(633		)	—			—			(888		)
Decreases in restricted cash	551			—			—			—			551
Net cash provided by (used in) investing activities	296			(13,503		)	—			—			(13,207		)
Cash flows from financing activities:
Repayment of debt	(2,385		)	(514		)	—			—			(2,899		)
Settlement of unconsolidated entity obligations	(15,862		)	—			—			—			(15,862		)
Debt issuance costs	(97		)	—			—			—			(97		)
Equity issuance costs	(1,212		)	—			—			—			(1,212		)
Dividends paid	(1,800		)	—			1,800			—			—
Advances to/from subsidiaries	15,028			(13,145		)	(1,835		)	(48		)	—
Payments for other financing activities	(72		)	—			—			—			(72		)
Net cash used in financing activities	(6,400		)	(13,659		)	(35		)	(48		)	(20,142		)
(Decrease) increase in cash and cash equivalents	(108,168		)	(5,486		)	327			(48		)	(113,375		)
Cash and cash equivalents at beginning of period	360,723			10,488			418			(1,226		)	370,403
Cash and cash equivalents at end of period	$	252,555		$	5,002		$	745		$	(1,274	)	$	257,028