Supplemental Guarantor Information (Tables)

6 Months Ended

Mar. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Unaudited Consolidating Balance Sheet Information

Beazer Homes USA, Inc.

Unaudited Consolidating Balance Sheet Information

March 31, 2016

(In thousands)

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	135,124	$	5,639	$	940	$	(6,770	)	$	134,933
Restricted cash	15,465		1,814		—		—			17,279
Accounts receivable (net of allowance of $872)	—		55,600		3		—			55,603
Income tax receivable	221		—		—		—			221
Owned inventory	—		1,750,652		—		—			1,750,652
Investments in unconsolidated entities	773		8,242		—		—			9,015
Deferred tax assets, net	329,644		—		—		—			329,644
Property and equipment, net	—		20,699		—		—			20,699
Investments in subsidiaries	673,454		—		—		(673,454		)	—
Intercompany	939,888		—		2,372		(942,260		)	—
Other assets	12,666		3,025		4		—			15,695
Total assets	$	2,107,235	$	1,845,671	$	3,319	$	(1,622,484	)	$	2,333,741
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	98,556	$	—	$	—		$	98,556
Other liabilities	28,178		113,400		450		—			142,028
Intercompany	2,372		946,658		—		(949,030		)	—
Total debt (net of discounts of $5,272)	1,443,133		16,472		—		—			1,459,605
Total liabilities	1,473,683		1,175,086		450		(949,030		)	1,700,189
Stockholders’ equity	633,552		670,585		2,869		(673,454		)	633,552
Total liabilities and stockholders’ equity	$	2,107,235	$	1,845,671	$	3,319	$	(1,622,484	)	$	2,333,741

Beazer Homes USA, Inc.

Unaudited Consolidating Balance Sheet Information

September 30, 2015

(In thousands)

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	232,226	$	21,543	$	1,006	$	(3,192	)	$	251,583
Restricted cash	37,177		1,724		—		—			38,901
Accounts receivable (net of allowance of $1,052)	—		52,378		1		—			52,379
Income tax receivable	419		—		—		—			419
Owned inventory	—		1,697,590		—		—			1,697,590
Investments in unconsolidated entities	773		12,961		—		—			13,734
Deferred tax assets, net	325,373		—		—		—			325,373
Property and equipment, net	—		22,230		—		—			22,230
Investments in subsidiaries	649,701		—		—		(649,701		)	—
Intercompany	913,733		—		2,384		(916,117		)	—
Other assets	12,519		6,471		4		—			18,994
Total assets	$	2,171,921	$	1,814,897	$	3,395	$	(1,569,010	)	$	2,421,203
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	113,539	$	—	$	—		$	113,539
Other liabilities	31,703		116,718		545		—			148,966
Intercompany	2,384		916,925		—		(919,309		)	—
Total debt (net of discounts of $3,639)	1,507,411		20,864		—		—			1,528,275
Total liabilities	1,541,498		1,168,046		545		(919,309		)	1,790,780
Stockholders’ equity	630,423		646,851		2,850		(649,701		)	630,423
Total liabilities and stockholders’ equity	$	2,171,921	$	1,814,897	$	3,395	$	(1,569,010	)	$	2,421,203

Unaudited Consolidating Income Statement

Beazer Homes USA, Inc.

Unaudited Consolidating Statements of Income (Loss) and Unaudited Comprehensive Income (Loss)

(In thousands)

	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2016
Total revenue	$	—		$	385,607		$	28		$	(28	)	$	385,607
Home construction and land sales expenses	16,073			308,171			—			(28		)	324,216
Inventory impairments and abandonments	84			1,741			—			—			1,825
Gross (loss) profit	(16,157		)	75,695			28			—			59,566
Commissions	—			14,582			—			—			14,582
General and administrative expenses	—			38,867			31						38,898
Depreciation and amortization	—			3,056			—			—			3,056
Operating (loss) income	(16,157		)	19,190			(3		)	—			3,030
Equity in income (loss) of unconsolidated entities	—			(51		)	—			—			(51		)
Loss on extinguishment of debt	(1,631		)	—			—			—			(1,631		)
Other (expense) income, net	(6,633		)	76			(1		)	—			(6,558		)
(Loss) income before income taxes	(24,421		)	19,215			(4		)	—			(5,210		)
(Benefit from) provision for income taxes	(11,917		)	8,020			(1		)	—			(3,898		)
Equity in income of subsidiaries	11,192			—			—			(11,192		)	—
Income (loss) from continuing operations	(1,312		)	11,195			(3		)	(11,192		)	(1,312		)
Income (loss) from discontinued operations	—			81			(3		)	—			78
Equity in income of subsidiaries from discontinued operations	78			—			—			(78		)	—
Net income (loss) and comprehensive income (loss)	$	(1,234	)	$	11,276		$	(6	)	$	(11,270	)	$	(1,234	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2015
Total revenue	$	—		$	299,359		$	33		$	(33	)	$	299,359
Home construction and land sales expenses	9,782			235,697			—			(33		)	245,446
Gross (loss) profit	(9,782		)	63,662			33			—			53,913
Commissions	—			11,969			—			—			11,969
General and administrative expenses	—			32,694			33			—			32,727
Depreciation and amortization	—			2,781			—			—			2,781
Operating (loss) income	(9,782		)	16,218			—			—			6,436
Equity in income of unconsolidated entities	—			82			—			—			82
Other expense, net	(7,695		)	(777		)	(1		)	—			(8,473		)
(Loss) income before income taxes	(17,477		)	15,523			(1		)	—			(1,955		)
(Benefit from) provision for income taxes	(6,456		)	6,561			—			—			105
Equity in income of subsidiaries	8,961			—			—			(8,961		)	—
(Loss) income from continuing operations	(2,060		)	8,962			(1		)	(8,961		)	(2,060		)
Income (loss) from discontinued operations	—			68			(4		)	—			64
Equity in income of subsidiaries from discontinued operations	64			—			—			(64		)	—
Net income (loss)	$	(1,996	)	$	9,030		$	(5	)	$	(9,025	)	$	(1,996	)
Change in unrealized loss related to available-for-sale securities	1,070			—			—			—			1,070
Comprehensive income (loss)	$	(926	)	$	9,030		$	(5	)	$	(9,025	)	$	(926	)

	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2016
Total revenue	$	—		$	730,056		$	101		$	(101	)	$	730,056
Home construction and land sales expenses	29,440			580,388			—			(101		)	609,727
Inventory impairments and abandonments	84			3,097			—			—			3,181
Gross (loss) profit	(29,524		)	146,571			101			—			117,148
Commissions	—			28,356			—			—			28,356
General and administrative expenses	—			70,509			58			—			70,567
Depreciation and amortization	—			6,047			—			—			6,047
Operating (loss) income	(29,524		)	41,659			43			—			12,178
Equity in income of unconsolidated entities	—			9			—			—			9
Loss on extinguishment of debt	(2,459		)	—			—			—			(2,459		)
Other (expense) income, net	(14,065		)	944			(2		)	—			(13,123		)
(Loss) income before income taxes	(46,048		)	42,612			41			—			(3,395		)
(Benefit from) provision for income taxes	(22,060		)	18,762			16			—			(3,282		)
Equity in income of subsidiaries	23,875			—			—			(23,875		)	—
(Loss) income from continuing operations	(113		)	23,850			25			(23,875		)	(113		)
Loss from discontinued operations	—			(116		)	(6		)	—			(122		)
Equity in loss of subsidiaries from discontinued operations	(122		)	—			—			122			—
Net income (loss) and comprehensive income (loss)	$	(235	)	$	23,734		$	19		$	(23,753	)	$	(235	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2015
Total revenue	$	—		$	565,123		$	131		$	(131	)	$	565,123
Home construction and land sales expenses	17,976			458,147			—			(131		)	475,992
Gross (loss) profit	(17,976		)	106,976			131			—			89,131
Commissions	—			22,895			—			—			22,895
General and administrative expenses	—			64,108			60			—			64,168
Depreciation and amortization	—			5,122			—			—			5,122
Operating (loss) income	(17,976		)	14,851			71			—			(3,054		)
Equity in income of unconsolidated entities	—			224			—			—			224
Other (expense) income, net	(17,442		)	(463		)	(2		)	—			(17,907		)
(Loss) income before income taxes	(35,418		)	14,612			69			—			(20,737		)
(Benefit from) provision for income taxes	(13,083		)	12,467			25			—			(591		)
Equity in income of subsidiaries	2,189			—			—			(2,189		)	—
(Loss) income from continuing operations	(20,146		)	2,145			44			(2,189		)	(20,146		)
Loss from discontinued operations	—			(4,183		)	(7		)	—			(4,190		)
Equity in loss of subsidiaries and discontinued operations	(4,190		)	—			—			4,190			—
Net income (loss)	$	(24,336	)	$	(2,038	)	$	37		$	2,001		$	(24,336	)
Change in unrealized loss related to available-for-sale securities	1,276			—			—			—			1,276
Comprehensive income (loss)	$	(23,060	)	$	(2,038	)	$	37		$	2,001		$	(23,060	)

Unaudited Consolidating Statements of Cash Flow

Beazer Homes USA, Inc.

Unaudited Condensed Consolidating Statements of Cash Flow

(In thousands)

	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2016
Net cash used in operating activities	$	(32,839	)	$	(26,968	)	$	(78	)	$	—		$	(59,885	)
Cash flows from investing activities:
Capital expenditures	—			(6,017		)	—			—			(6,017		)
Proceeds from sale of fixed assets	—			2,471			—			—			2,471
Investments in unconsolidated entities	—			(2,787		)	—			—			(2,787		)
Proceeds from sale of unconsolidated entities	—			1,141			—			—			1,141
Increases in restricted cash	(656		)	(1,114		)	—			—			(1,770		)
Decreases in restricted cash	22,368			1,024			—			—			23,392
Advances to/from subsidiaries	(17,322		)	—			—			17,322			—
Net cash (used in) provided by investing activities	4,390			(5,282		)	—			17,322			16,430
Cash flows from financing activities:
Repayment of debt	(203,679		)	(4,542		)	—			—			(208,221		)
Proceeds from issuance of new debt	137,900			—			—			—			137,900
Repayment of borrowings from credit facility	(25,000		)	—			—			—			(25,000		)
Borrowings from credit facility	25,000			—			—			—			25,000
Debt issuance costs	(2,451		)	—			—			—			(2,451		)
Advances to/from subsidiaries	—			20,888			12			(20,900		)	—
Other financing activities	(423		)	—			—			—			(423		)
Net cash (used in) provided by financing activities	(68,653		)	16,346			12			(20,900		)	(73,195		)
Decrease in cash and cash equivalents	(97,102		)	(15,904		)	(66		)	(3,578		)	(116,650		)
Cash and cash equivalents at beginning of period	232,226			21,543			1,006			(3,192		)	251,583
Cash and cash equivalents at end of period	$	135,124		$	5,639		$	940		$	(6,770	)	$	134,933
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2015
Net cash used in operating activities	$	(31,274	)	$	(171,497	)	$	(145	)	$	—		$	(202,916	)
Cash flows from investing activities:
Capital expenditures	—			(7,478		)	—			—			(7,478		)
Investments in unconsolidated entities	—			(1,670		)	—			—			(1,670		)
Proceeds from sale of marketable securities and unconsolidated entities	—			24,211			—			—			24,211
Increases in restricted cash	(1,319		)	(1,168		)	—			—			(2,487		)
Decreases in restricted cash	21,601			658			—			—			22,259
Advances to/from subsidiaries	(145,846		)	—			—			145,846			—
Net cash (used in) provided by investing activities	(125,564		)	14,553			—			145,846			34,835
Cash flows from financing activities:
Repayment of debt	(8,702		)	(812		)	—			—			(9,514		)
Debt issuance costs	(126		)	—			—			—			(126		)
Dividends paid	500			—			(500		)	—			—
Advances to/from subsidiaries	—			147,759			12			(147,771		)	—
Other financing activities	(172		)	—			—			—			(172		)
Net cash (used in) provided by financing activities	(8,500		)	146,947			(488		)	(147,771		)	(9,812		)
Decrease in cash and cash equivalents	(165,338		)	(9,997		)	(633		)	(1,925		)	(177,893		)
Cash and cash equivalents at beginning of period	301,980			22,034			1,614			(1,474		)	324,154
Cash and cash equivalents at end of period	$	136,642		$	12,037		$	981		$	(3,399	)	$	146,261