Supplemental Guarantor Information

9 Months Ended

Jun. 30, 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	$	200,696	$	9,223	$	1,640	$	(5,077	)	$	206,482
Restricted cash	56,749		1,214		—		—			57,963
Accounts receivable (net of allowance of $1,278)	—		28,996		3		—			28,999
Income tax receivable	4,754		—		—		—			4,754
Owned inventory	—		1,587,954		—		—			1,587,954
Consolidated inventory not owned	—		7,588		—		—			7,588
Investments in unconsolidated entities	773		33,451		—		—			34,224
Deferred tax assets, net	5,480		—		—		—			5,480
Property, plant and equipment, net	—		17,183		—		—			17,183
Investments in subsidiaries	177,783		—		—		(177,783		)	—
Intercompany	1,313,401		—		2,399		(1,315,800		)	—
Other assets	18,616		8,042		109		—			26,767
Total assets	$	1,778,252	$	1,693,651	$	4,151	$	(1,498,660	)	$	1,977,394
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	84,435	$	—	$	—		$	84,435
Other liabilities	42,656		90,140		902		—			133,698
Intercompany	2,399		1,318,478		—		(1,320,877		)	—
Obligations related to land not owned under option agreements	—		3,016		—		—			3,016
Total debt (net of discounts of $4,590)	1,514,194		23,048		—		—			1,537,242
Total liabilities	1,559,249		1,519,117		902		(1,320,877		)	1,758,391
Stockholders’ equity	219,003		174,534		3,249		(177,783		)	219,003
Total liabilities and stockholders’ equity	$	1,778,252	$	1,693,651	$	4,151	$	(1,498,660	)	$	1,977,394

	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.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended June 30, 2014
Total revenue	$	—		$	354,671		$	100		$	(100	)	$	354,671
Home construction and land sales expenses	9,430			274,527			—			(100		)	283,857
Inventory impairments and option contract abandonments	—			2,010			—			—			2,010
Gross (loss) profit	(9,430		)	78,134			100			—			68,804
Commissions	—			14,322			—			—			14,322
General and administrative expenses	—			35,967			27			—			35,994
Depreciation and amortization	—			3,400			—			—			3,400
Operating (loss) income	(9,430		)	24,445			73			—			15,088
Equity in loss of unconsolidated entities	—			(81		)	—			—			(81		)
Loss on extinguishment of debt	(19,764		)	—			—			—			(19,764		)
Other (expense) income, net	(10,421		)	216						—			(10,205		)
(Loss) income before income taxes	(39,615		)	24,580			73			—			(14,962		)
(Benefit from) provision for income taxes	(4,730		)	2,935			26			—			(1,769		)
Equity in income of subsidiaries	21,692			—			—			(21,692		)	—
(Loss) income from continuing operations	(13,193		)	21,645			47			(21,692		)	(13,193		)
Income (loss) from discontinued operations	—			842			(4		)	—			838
Equity in income of subsidiaries	838			—			—			(838		)	—
Net (loss) income	$	(12,355	)	$	22,487		$	43		$	(22,530	)	$	(12,355	)
	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
Inventory impairments and option contract abandonments	—			—			—			—			—
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		)
Loss on extinguishment of debt	—			—			—			—			—
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.

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, 2014
Total revenue	$	—		$	917,862		$	279		$	(279	)	$	917,862
Home construction and land sales expenses	23,944			715,630			—			(279		)	739,295
Inventory impairments and option contract abandonments	—			2,921			—			—			2,921
Gross (loss) profit	(23,944		)	199,311			279			—			175,646
Commissions	—			37,239			—			—			37,239
General and administrative expenses	—			96,944			88			—			97,032
Depreciation and amortization	—			9,138			—			—			9,138
Operating (loss) income	(23,944		)	55,990			191			—			32,237
Equity in income of unconsolidated entities	—			221			—			—			221
Loss on extinguishment of debt	(19,917		)	—			—			—			(19,917		)
Other (expense) income, net	(41,112		)	1,427			(4		)	—			(39,689		)
(Loss) income before income taxes	(84,973		)	57,638			187			—			(27,148		)
(Benefit from) provision for income taxes	(4,928		)	3,079			66			—			(1,783		)
Equity in income of subsidiaries	54,680			—			—			(54,680		)	—
(Loss) income from continuing operations	(25,365		)	54,559			121			(54,680		)	(25,365		)
Loss from discontinued operations	—			(88		)	(11		)	—			(99		)
Equity in loss of subsidiaries	(99		)	—			—			99			—
Net (loss) income	$	(25,464	)	$	54,471		$	110		$	(54,581	)	$	(25,464	)
	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, 2014
Net cash (used in) provided by operating activities	$	(90,773	)	$	(198,873	)	$	53		$	—		$	(289,593	)
Cash flows from investing activities:
Capital expenditures	—			(8,984		)	—			—			(8,984		)
Investments in unconsolidated entities	—			(4,567		)	—			—			(4,567		)
Return of capital from unconsolidated entities	—			187			—			—			187
Increases in restricted cash	(8,915		)	(1,166		)	—			—			(10,081		)
Decreases in restricted cash	39			1,057			—			—			1,096
Net cash used in investing activities	(8,876		)	(13,473		)	—			—			(22,349		)
Cash flows from financing activities:
Repayment of debt	(303,448		)	(1,637		)	—			—			(305,085		)
Proceeds from issuance of new debt	325,000			—			—			—			325,000
Debt issuance costs	(5,504		)	—			—			—			(5,504		)
Advances to/from subsidiaries	(214,598		)	216,882			(50		)	(2,234		)	—
Payments for other financing activities	(446		)	—			—			—			(446		)
Net cash (used in) provided by financing activities	(198,996		)	215,245			(50		)	(2,234		)	13,965
(Decrease) increase in cash and cash equivalents	(298,645		)	2,899			3			(2,234		)	(297,977		)
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	$	200,696		$	9,223		$	1,640		$	(5,077	)	$	206,482
	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