Supplemental Guarantor Information

6 Months Ended

Mar. 31, 2014

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	$	302,176	$	1,699	$	1,689	$	(5,944	)	$	299,620
Restricted cash	49,733		1,032		—		—			50,765
Accounts receivable (net of allowance of $1,278)	—		28,908		3		—			28,911
Income tax receivable	2,813		—		—		—			2,813
Owned inventory	—		1,480,360		—		—			1,480,360
Consolidated inventory not owned	—		7,751		—		—			7,751
Investments in unconsolidated entities	773		35,774		—		—			36,547
Deferred tax assets, net	5,407		—		—		—			5,407
Property, plant and equipment, net	—		18,142		—		—			18,142
Investments in subsidiaries	155,251		—		—		(155,251		)	—
Intercompany	1,240,777		—		2,406		(1,243,183		)	—
Other assets	17,058		3,901		109		—			21,068
Total assets	$	1,773,988	$	1,577,567	$	4,207	$	(1,404,378	)	$	1,951,384
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	71,891	$	—	$	—		$	71,891
Other liabilities	52,706		79,966		1,003		—			133,675
Intercompany	2,406		1,246,721		—		(1,249,127		)	—
Obligations related to land not owned under option agreements	—		3,147		—		—			3,147
Total debt (net of discounts of $4,780)	1,488,078		23,795		—		—			1,511,873
Total liabilities	1,543,190		1,425,520		1,003		(1,249,127		)	1,720,586
Stockholders’ equity	230,798		152,047		3,204		(155,251		)	230,798
Total liabilities and stockholders’ equity	$	1,773,988	$	1,577,567	$	4,207	$	(1,404,378	)	$	1,951,384

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	499,341	$	6,324	$	1,637	$	(2,843	)	$	504,459
Restricted cash	47,873		1,105		—		—			48,978
Accounts receivable (net of allowance of $1,651)	—		22,339		3		—			22,342
Income tax receivable	2,813		—		—		—			2,813
Owned inventory	—		1,304,694		—		—			1,304,694
Consolidated inventory not owned	—		9,124		—		—			9,124
Investments in unconsolidated entities	773		44,224		—		—			44,997
Deferred tax assets, net	5,253		—		—		—			5,253
Property, plant and equipment, net	—		17,000		—		—			17,000
Investments in subsidiaries	123,600		—		—		(123,600		)	—
Intercompany	1,088,949		—		2,747		(1,091,696		)	—
Other assets	19,602		7,147		380		—			27,129
Total assets	$	1,788,204	$	1,411,957	$	4,767	$	(1,218,139	)	$	1,986,789
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	83,800	$	—	$	—		$	83,800
Other liabilities	52,009		92,384		1,230		—			145,623
Intercompany	2,747		1,091,792		—		(1,094,539		)	—
Obligations related to land not owned under option agreements	—		4,633		—		—			4,633
Total debt (net of discounts of $5,160)	1,492,898		19,285		—		—			1,512,183
Total liabilities	1,547,654		1,291,894		1,230		(1,094,539		)	1,746,239
Stockholders’ equity	240,550		120,063		3,537		(123,600		)	240,550
Total liabilities and stockholders’ equity	$	1,788,204	$	1,411,957	$	4,767	$	(1,218,139	)	$	1,986,789

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, 2014
Total revenue	$	—		$	270,021		$	100		$	(100	)	$	270,021
Home construction and land sales expenses	7,379			209,690			—			(100		)	216,969
Inventory impairments and option contract abandonments	—			880			—			—			880
Gross (loss) profit	(7,379		)	59,451			100			—			52,172
Commissions	—			11,096			—			—			11,096
General and administrative expenses	—			32,592			36			—			32,628
Depreciation and amortization	—			2,831			—			—			2,831
Operating (loss) income	(7,379		)	12,932			64			—			5,617
Equity in income of unconsolidated entities	—			(17		)	—			—			(17		)
Loss on extinguishment of debt	(153		)	—			—			—			(153		)
Other (expense) income, net	(14,659		)	933			(1		)	—			(13,727		)
(Loss) income before income taxes	(22,191		)	13,848			63			—			(8,280		)
(Benefit from) provision for income taxes	(210		)	131			23			—			(56		)
Equity in income of subsidiaries	13,757			—			—			(13,757		)	—
(Loss) income from continuing operations	(8,224		)	13,717			40			(13,757		)	(8,224		)
Income (loss) from discontinued operations	—			257			(4		)	—			253
Equity in income of subsidiaries	253			—			—			(253		)	—
Net (loss) income	$	(7,971	)	$	13,974		$	36		$	(14,010	)	$	(7,971	)
	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 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 of subsidiaries	(529		)	—			—			529			—
Net (loss) income	$	(19,640	)	$	8,926		$	87		$	(9,013	)	$	(19,640	)

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, 2014
Total revenue	$	—		$	563,191		$	180		$	(180	)	$	563,191
Home construction and land sales expenses	14,514			441,104			—			(180		)	455,438
Inventory impairments and option contract abandonments	—			911			—			—			911
Gross (loss) profit	(14,514		)	121,176			180			—			106,842
Commissions	—			22,917			—			—			22,917
General and administrative expenses	—			60,976			62			—			61,038
Depreciation and amortization	—			5,738			—			—			5,738
Operating (loss) income	(14,514		)	31,545			118			—			17,149
Equity in income of unconsolidated entities	—			302			—			—			302
Loss on extinguishment of debt	(153		)	—			—			—			(153		)
Other (expense) income, net	(30,692		)	1,212			(4		)	—			(29,484		)
(Loss) income before income taxes	(45,359		)	33,059			114			—			(12,186		)
(Benefit from) provision for income taxes	(199		)	145			40			—			(14		)
Equity in income of subsidiaries	32,988			—			—			(32,988		)	—
(Loss) income from continuing operations	(12,172		)	32,914			74			(32,988		)	(12,172		)
Loss from discontinued operations	—			(930		)	(7		)	—			(937		)
Equity in loss of subsidiaries	(937		)	—			—			937			—
Net (loss) income	$	(13,109	)	$	31,984		$	67		$	(32,051	)	$	(13,109	)
	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 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, 2014
Net cash (used in) provided by operating activities	$	(45,803	)	$	(142,360	)	$	111		$	—		$	(188,052	)
Cash flows from investing activities:
Capital expenditures	—			(6,641		)	—			—			(6,641		)
Investments in unconsolidated entities	—			(3,193		)	—			—			(3,193		)
Increases in restricted cash	(1,898		)	(690		)	—			—			(2,588		)
Decreases in restricted cash	39			762			—			—			801
Net cash used in investing activities	(1,859		)	(9,762		)	—			—			(11,621		)
Cash flows from financing activities:
Repayment of debt	(3,857		)	(890		)	—			—			(4,747		)
Debt issuance costs	(26		)	—			—			—			(26		)
Advances to/from subsidiaries	(145,227		)	148,387			(59		)	(3,101		)	—
Payments for other financing activities	(393		)	—			—			—			(393		)
Net cash (used in) provided by financing activities	(149,503		)	147,497			(59		)	(3,101		)	(5,166		)
(Decrease) increase in cash and cash equivalents	(197,165		)	(4,625		)	52			(3,101		)	(204,839		)
Cash and cash equivalents at beginning of period	499,341			6,324			1,637			(2,843		)	504,459
Cash and cash equivalents at end of period	$	302,176		$	1,699		$	1,689		$	(5,944	)	$	299,620
	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 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