Supplemental Guarantor Information

9 Months Ended

Jun. 30, 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	$	295,769	$	5,729	$	888	$	(4,040	)	$	298,346
Restricted cash	245,651		362		—		—			246,013
Accounts receivable (net of allowance of $2,045)	—		26,059		7		—			26,066
Income tax receivable	3,080		—		—		—			3,080
Land not owned under option agreements	—		1,265,112		—		—			1,265,112
Consolidated inventory not owned	—		7,880		—		—			7,880
Investments in unconsolidated entities	773		41,704		—		—			42,477
Deferred tax assets, net	7,076		—		—		—			7,076
Property, plant and equipment, net	—		16,734		—		—			16,734
Investments in subsidiaries	93,173		—		—		(93,173		)	—
Intercompany	1,096,356		—		2,771		(1,099,127		)	—
Other assets	21,260		7,693		1,180		—			30,133
Total assets	$	1,763,138	$	1,371,273	$	4,846	$	(1,196,340	)	$	1,942,917
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	79,625	$	—	$	—		$	79,625
Other liabilities	36,911		88,426		1,409		—			126,746
Intercompany	1,073		1,102,094		—		(1,103,167		)	—
Obligations related to land not owned under option agreements	—		2,904		—		—			2,904
Total debt (net of discounts of $2,341)	1,497,168		8,488		—		—			1,505,656
Total liabilities	1,535,152		1,281,537		1,409		$	(1,103,167	)	1,714,931
Stockholders’ equity	227,986		89,736		3,437		(93,173		)	227,986
Total liabilities and stockholders’ equity	$	1,763,138	$	1,371,273	$	4,846	$	(1,196,340	)	$	1,942,917

	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
Land not owned under option agreements	—		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 June 30, 2013
Total revenue	$	—		$	314,439		$	173		$	(173	)	$	314,439
Home construction and land sales expenses	9,996			250,501			—			(173		)	260,324
Gross (loss) profit	(9,996		)	63,938			173			—			54,115
Commissions	—			13,078			—			—			13,078
General and administrative expenses	—			29,570			42			—			29,612
Depreciation and amortization	—			2,953			—			—			2,953
Operating (loss) income	(9,996		)	18,337			131			—			8,472
Equity in loss of unconsolidated entities	—			(310		)	—			—			(310		)
Other (expense) income, net	(14,252		)	211			5			—			(14,036		)
(Loss) income before income taxes	(24,248		)	18,238			136			—			(5,874		)
(Benefit from) provision for income taxes	(1,937		)	1,457			48			—			(432		)
Equity in income of subsidiaries	16,869			—			—			(16,869		)	—
(Loss) income from continuing operations	(5,442		)	16,781			88			(16,869		)	(5,442		)
Loss from discontinued operations	—			(344		)	(2		)	—			(346		)
Equity in loss of subsidiaries	(346		)	—			—			346			—
Net (loss) income	$	(5,788	)	$	16,437		$	86		$	(16,523	)	$	(5,788	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended June 30, 2012
Total revenue	$	—		$	254,555		$	240		$	(240	)	$	254,555
Home construction and land sales expenses	15,649			212,096			—			(240		)	227,505
Inventory impairments and option contract abandonments	222			5,597			—			—			5,819
Gross (loss) profit	(15,871		)	36,862			240			—			21,231
Commissions	—			10,776			—			—			10,776
General and administrative expenses	—			27,840			27			—			27,867
Depreciation and amortization	—			3,743			—			—			3,743
Operating (loss) income	(15,871		)	(5,497		)	213			—			(21,155		)
Equity in income of unconsolidated entities	—			48			—			—			48
Other (expense) income, net	(17,233		)	414			15			—			(16,804		)
(Loss) income before income taxes	(33,104		)	(5,035		)	228			—			(37,911		)
(Benefit from) provision for income taxes	(12,868		)	12,936			77			—			145
Equity in (loss) income of subsidiaries	(17,820		)	—			—			17,820			—
(Loss) income from continuing operations	(38,056		)	(17,971		)	151			17,820			(38,056		)
Loss from discontinued operations	—			(1,820		)	(8		)	—			(1,828		)
Equity in loss of subsidiaries	(1,828		)	—			—			1,828			—
Net (loss) income	$	(39,884	)	$	(19,791	)	$	143		$	19,648		$	(39,884	)

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.
Nine Months Ended June 30, 2013
Total revenue	$	—		$	849,243		$	563		$	(563	)	$	849,243
Home construction and land sales expenses	27,823			685,670			—			(563		)	712,930
Inventory impairments and option contract abandonments	—			2,229			—			—			2,229
Gross (loss) profit	(27,823		)	161,344			563			—			134,084
Commissions	—			35,406			—			—			35,406
General and administrative expenses	—			84,633			102			—			84,735
Depreciation and amortization	—			8,761			—			—			8,761
Operating (loss) income	(27,823		)	32,544			461			—			5,182
Equity in loss of unconsolidated entities	—			(206		)	—			—			(206		)
Loss on extinguishment of debt	(3,638		)	—			—			—			(3,638		)
Other (expense) income, net	(46,709		)	839			12			—			(45,858		)
(Loss) income before income taxes	(78,170		)	33,177			473			—			(44,520		)
(Benefit from) provision for income taxes	(2,074		)	880			166			—			(1,028		)
Equity in income of subsidiaries	32,604			—			—			(32,604		)	—
(Loss) income from continuing operations	(43,492		)	32,297			307			(32,604		)	(43,492		)
(Loss) income from discontinued operations	—			(2,354		)	30			—			(2,324		)
Equity in loss of subsidiaries	(2,324		)	—			—			2,324			—
Net (loss) income	$	(45,816	)	$	29,943		$	337		$	(30,280	)	$	(45,816	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2012
Total revenue	$	—		$	634,746		$	701		$	(701	)	$	634,746
Home construction and land sales expenses	41,128			520,137			—			(701		)	560,564
Inventory impairments and option contract abandonments	275			10,217			—			—			10,492
Gross (loss) profit	(41,403		)	104,392			701			—			63,690
Commissions	—			27,522			—			—			27,522
General and administrative expenses	—			82,291			89			—			82,380
Depreciation and amortization	—			9,336			—			—			9,336
Operating (loss) income	(41,403		)	(14,757		)	612			—			(55,548		)
Equity in loss of unconsolidated entities	—			(25		)	—			—			(25		)
Loss on extinguishment of debt	(2,747		)	—			—			—			(2,747		)
Other (expense) income, net	(55,147		)	1,780			25			—			(53,342		)
(Loss) income before income taxes	(99,297		)	(13,002		)	637			—			(111,662		)
(Benefit from) provision for income taxes	(38,597		)	1,936			223			—			(36,438		)
Equity in (loss) income of subsidiaries	(14,524		)	—			—			14,524			—
(Loss) income from continuing operations	(75,224		)	(14,938		)	414			14,524			(75,224		)
Loss from discontinued operations	—			(3,858		)	(11		)	—			(3,869		)
Equity in loss of subsidiaries	(3,869		)	—			—			3,869			—
Net (loss) income	$	(79,093	)	$	(18,796	)	$	403		$	18,393		$	(79,093	)

	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2013
Net cash (used in) provided by operating activities	$	(53,663	)	$	(144,770	)	$	239		$	—		$	(198,194	)
Cash flows from investing activities:
Capital expenditures	—			(6,572		)	—			—			(6,572		)
Investments in unconsolidated entities	—			(1,374		)	—			—			(1,374		)
Return of capital from unconsolidated entities	—			432			—			—			432
Increases in restricted cash	(1,237		)	(551		)	—			—			(1,788		)
Decreases in restricted cash	8,487			548			—			—			9,035
Net cash provided by (used in) investing activities	7,250			(7,517		)	—			—			(267		)
Cash flows from financing activities:
Repayment of debt	(185,161		)	(270		)	—			—			(185,431		)
Proceeds from issuance of new debt	200,000			—			—			—			200,000
Settlement of unconsolidated entity debt obligations	—			(500		)	—			—			(500		)
Debt issuance costs	(4,935		)	—			—			—			(4,935		)
Advances to/from subsidiaries	(148,994		)	150,571			3			(1,580		)	—
Payments for other financing activities	(122		)	—			—			—			(122		)
Net cash (used in) provided by financing activities	(139,212		)	149,801			3			(1,580		)	9,012
(Decrease) increase in cash and cash equivalents	(185,625		)	(2,486		)	242			(1,580		)	(189,449		)
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	$	295,769		$	5,729		$	888		$	(4,040	)	$	298,346
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2012
Net cash (used in) provided by operating activities	$	(109,339	)	$	2,225		$	702		$	—		$	(106,412	)
Cash flows from investing activities:
Capital expenditures	—			(15,117		)	—			—			(15,117		)
Investments in unconsolidated entities	—			(2,075		)	—			—			(2,075		)
Return of capital from unconsolidated entities	—			440			—			—			440
Increases in restricted cash	(645		)	(1,034		)	—			—			(1,679		)
Decreases in restricted cash	5,878			1,077			—			—			6,955
Net cash provided by (used in) investing activities	5,233			(16,709		)	—			—			(11,476		)
Cash flows from financing activities:
Repayment of debt	(2,460		)	(909		)	—			—			(3,369		)
Settlement of unconsolidated entity obligations	(15,862		)	—			—			—			(15,862		)
Debt issuance costs	(274		)	—			—			—			(274		)
Equity issuance costs	(1,296		)	—			—			—			(1,296		)
Dividends paid	(1,800		)	—			1,800			—			—
Advances to/from subsidiaries	(9,202		)	11,527			(1,847		)	(478		)	—
Payments for other financing activities	(98		)	—			—			—			(98		)
Net cash (used in) provided by financing activities	(30,992		)	10,618			(47		)	(478		)	(20,899		)
(Decrease) increase in cash and cash equivalents	(135,098		)	(3,866		)	655			(478		)	(138,787		)
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	$	225,625		$	6,622		$	1,073		$	(1,704	)	$	231,616