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Supplemental Guarantor Information
 12 Months Ended
Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Supplemental Guarantor Information
Supplemental Guarantor Information
As discussed in Note 8, 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, Term Loan, or the Facility. The guarantees are full and unconditional and the guarantor subsidiaries are 100% owned by Beazer Homes USA, Inc. The following financial information presents the line items of our consolidated financial statements separated by amounts related to the parent issuer, guarantor subsidiaries, non-guarantor subsidiaries and consolidating adjustments as of or for the periods presented.
Beazer Homes USA, Inc.
Condensed Consolidating Balance Sheet Information
September 30, 2016
(In thousands)
 
 
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
215,646

 
$
16,866

 
$
859

 
$
(4,500
)
 
$
228,871

Restricted cash
12,867

 
1,538

 
—

 
—

 
14,405

Accounts receivable (net of allowance of $354)
—

 
53,225

 
1

 
—

 
53,226

Income tax receivable
292

 
—

 
—

 
—

 
292

Owned inventory
—

 
1,569,279

 
—

 
—

 
1,569,279

Investments in unconsolidated entities
773

 
9,697

 
—

 
—

 
10,470

Deferred tax assets, net
309,955

 
—

 
—

 
—

 
309,955

Property and equipment, net
—

 
19,138

 
—

 
—

 
19,138

Investments in subsidiaries
701,931

 
—

 
—

 
(701,931
)
 
—

Intercompany
734,766

 
—

 
2,574

 
(737,340
)
 
—

Other assets
577

 
6,930

 
15

 
—

 
7,522

Total assets
$
1,976,807

 
$
1,676,673

 
$
3,449

 
$
(1,443,771
)
 
$
2,213,158

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
Trade accounts payable
$
—

 
$
104,174

 
$
—

 
$
—

 
$
104,174

Other liabilities
11,315

 
122,561

 
377

 
—

 
134,253

Intercompany
2,574

 
739,266

 
—

 
(741,840
)
 
—

Total debt (net of premium/discount and debt issuance costs)
1,320,065

 
11,813

 
—

 
—

 
1,331,878

Total liabilities
1,333,954

 
977,814

 
377

 
(741,840
)
 
1,570,305

Stockholders’ equity
642,853

 
698,859

 
3,072

 
(701,931
)
 
642,853

Total liabilities and stockholders’ equity
$
1,976,807

 
$
1,676,673

 
$
3,449

 
$
(1,443,771
)
 
$
2,213,158

Beazer Homes USA, Inc.
Condensed 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
611

 
6,471

 
4

 
—

 
7,086

Total assets
$
2,160,013

 
$
1,814,897

 
$
3,395

 
$
(1,569,010
)
 
$
2,409,295

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 discount and debt issuance costs)
1,495,503

 
20,864

 
—

 
—

 
1,516,367

Total liabilities
1,529,590

 
1,168,046

 
545

 
(919,309
)
 
1,778,872

Stockholders’ equity
630,423

 
646,851

 
2,850

 
(649,701
)
 
630,423

Total liabilities and stockholders’ equity
$
2,160,013

 
$
1,814,897

 
$
3,395

 
$
(1,569,010
)
 
$
2,409,295

Beazer Homes USA, Inc.
Consolidating Statements of Income and Comprehensive Income Information
(In thousands)
 
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
Fiscal Year Ended September 30, 2016
 
 
 
 
 
 
 
 
 
Total revenue
$
—

 
$
1,822,114

 
$
156

 
$
(156
)
 
$
1,822,114

Home construction and land sales expenses
77,941

 
1,431,840

 
—

 
(156
)
 
1,509,625

Inventory impairments and abandonments
710

 
14,572

 
—

 
—

 
15,282

Gross (loss) profit
(78,651
)
 
375,702

 
156

 
—

 
297,207

Commissions
—

 
70,460

 
—

 
—

 
70,460

General and administrative expenses
—

 
153,524

 
104

 
—

 
153,628

Depreciation and amortization
—

 
13,794

 
—

 
—

 
13,794

Operating (loss) income
(78,651
)
 
137,924

 
52

 
—

 
59,325

Equity in income of unconsolidated entities
—

 
131

 
—

 
—

 
131

Loss on extinguishment of debt
(13,423
)
 
—

 
—

 
—

 
(13,423
)
Other (expense) income, net
(25,388
)
 
1,061

 
(3
)
 
—

 
(24,330
)
(Loss) income before income taxes
(117,462
)
 
139,116

 
49

 
—

 
21,703

(Benefit) expense from income taxes
(70,126
)
 
86,605

 
19

 
—

 
16,498

Equity in income of subsidiaries
52,541

 
—

 
—

 
(52,541
)
 
—

Income from continuing operations
5,205

 
52,511

 
30

 
(52,541
)
 
5,205

Loss from discontinued operations, net of tax
—

 
(503
)
 
(9
)
 
—

 
(512
)
Equity in loss of subsidiaries
(512
)
 
—

 
—

 
512

 
—

Net income and comprehensive income
$
4,693

 
$
52,008

 
$
21

 
$
(52,029
)
 
$
4,693

 
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
Fiscal Year Ended September 30, 2015
 
 
 
 
 
 
 
 
 
Total revenue
$
—

 
$
1,627,413

 
$
198

 
$
(198
)
 
$
1,627,413

Home construction and land sales expenses
55,006

 
1,297,052

 
—

 
(198
)
 
1,351,860

Inventory impairments and abandonments
—

 
3,109

 
—

 
—

 
3,109

Gross (loss) profit
(55,006
)
 
327,252

 
198

 
—

 
272,444

Commissions
—

 
65,023

 
—

 
—

 
65,023

General and administrative expenses
—

 
142,391

 
105

 
—

 
142,496

Depreciation and amortization
—

 
13,338

 
—

 
—

 
13,338

Operating (loss) income
(55,006
)
 
106,500

 
93

 
—

 
51,587

Equity in income of unconsolidated entities
—

 
536

 
—

 
—

 
536

Loss on extinguishment of debt
(80
)
 
—

 
—

 
—

 
(80
)
Other expense, net
(29,752
)
 
(258
)
 
(3
)
 
—

 
(30,013
)
(Loss) income before income taxes
(84,838
)
 
106,778

 
90

 
—

 
22,030

(Benefit) expense from income taxes
(32,275
)
 
(292,326
)
 
32

 
—

 
(324,569
)
Equity in income of subsidiaries
399,162

 
—

 
—

 
(399,162
)
 
—

Income from continuing operations
346,599

 
399,104

 
58

 
(399,162
)
 
346,599

Loss from discontinued operations, net of tax
—

 
(2,495
)
 
(10
)
 
—

 
(2,505
)
Equity in loss of subsidiaries
(2,505
)
 
—

 
—

 
2,505

 
—

Net income
$
344,094

 
$
396,609

 
$
48

 
$
(396,657
)
 
$
344,094

Change in unrealized loss related to available-for-sale securities
1,276

 
—

 
—

 
—

 
1,276

Comprehensive income
$
345,370

 
$
396,609

 
$
48

 
$
(396,657
)
 
$
345,370



Beazer Homes USA, Inc.
 Consolidating Statements of Income and Comprehensive Income Information
(In thousands)
 
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
Fiscal Year Ended September 30, 2014
 
 
 
 
 
 
 
 
 
Total revenue
$
—

 
$
1,463,767

 
$
379

 
$
(379
)
 
$
1,463,767

Home construction and land sales expenses
39,255

 
1,153,125

 
—

 
(379
)
 
1,192,001

Inventory impairments and abandonments
245

 
8,062

 
—

 
—

 
8,307

Gross (loss) profit
(39,500
)
 
302,580

 
379

 
—

 
263,459

Commissions
—

 
58,028

 
—

 
—

 
58,028

General and administrative expenses
—

 
136,349

 
114

 
—

 
136,463

Depreciation and amortization
—

 
13,279

 
—

 
—

 
13,279

Operating (loss) income
(39,500
)
 
94,924

 
265

 
—

 
55,689

Equity in income of unconsolidated entities
—

 
6,545

 
—

 
—

 
6,545

Loss on extinguishment of debt
(19,917
)
 
—

 
—

 
—

 
(19,917
)
Other (expense) income, net
(50,786
)
 
1,600

 
(5
)
 
—

 
(49,191
)
(Loss) income before income taxes
(110,203
)
 
103,069

 
260

 
—

 
(6,874
)
(Benefit) expense from income taxes
(14,247
)
 
(27,642
)
 
92

 
—

 
(41,797
)
Equity in income of subsidiaries
130,879

 
—

 
—

 
(130,879
)
 
—

Income from continuing operations
34,923

 
130,711

 
168

 
(130,879
)
 
34,923

Loss from discontinued operations, net of tax
—

 
(532
)
 
(8
)
 
—

 
(540
)
Equity in loss of subsidiaries
(540
)
 
—

 
—

 
540

 
—

Net income
$
34,383

 
$
130,179

 
$
160

 
$
(130,339
)
 
$
34,383

Change in unrealized loss related to available-for-sale securities
(1,276
)
 
—

 
—

 
—

 
(1,276
)
Comprehensive income
$
33,107

 
$
130,179

 
$
160

 
$
(130,339
)
 
$
33,107

Beazer Homes USA, Inc.
Condensed Consolidating Statements of Cash Flow Information
(In thousands)
 
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
Fiscal Year Ended September 30, 2016
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$
(56,218
)
 
$
219,401

 
$
(158
)
 
$
—

 
$
163,025

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(12,219
)
 
—

 
—

 
(12,219
)
Proceeds from sale of fixed assets
—

 
2,624

 
—

 
—

 
2,624

Investments in unconsolidated entities
—

 
(4,241
)
 
—

 
—

 
(4,241
)
Return of capital from unconsolidated entities
—

 
1,142

 
—

 
—

 
1,142

Increases in restricted cash
(2,388
)
 
(3,464
)
 
—

 
—

 
(5,852
)
Decreases in restricted cash
26,698

 
3,650

 
—

 
—

 
30,348

Advances to/from subsidiaries
203,690

 
—

 
11

 
(203,701
)
 
—

Net cash provided by (used in) investing activities
228,000


(12,508
)

11


(203,701
)

11,802

Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Repayment of debt
(819,044
)
 
(9,177
)
 
—

 
—

 
(828,221
)
Proceeds from issuance of new debt
642,150

 
—

 
—

 
—

 
642,150

Repayment of borrowing from credit facility
(90,000
)
 
—

 
—

 
—

 
(90,000
)
Borrowing from credit facility
90,000

 
—

 
—

 
—

 
90,000

Debt issuance costs
(11,246
)
 
—

 
—

 
—

 
(11,246
)
Other financing activities
(222
)
 
—

 
—

 
—

 
(222
)
Advances to/from subsidiaries
—

 
(202,393
)
 
—

 
202,393

 
—

Net cash (used in) provided by financing activities
(188,362
)
 
(211,570
)
 
—

 
202,393

 
(197,539
)
Decrease in cash and cash equivalents
(16,580
)
 
(4,677
)
 
(147
)
 
(1,308
)
 
(22,712
)
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
$
215,646

 
$
16,866

 
$
859

 
$
(4,500
)
 
$
228,871




Beazer Homes USA, Inc.
Condensed Consolidating Statements of Cash Flow Information
(In thousands)
 
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
Fiscal Year Ended September 30, 2015
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$
(388,584
)
 
$
307,668

 
$
(133
)
 
$
—

 
$
(81,049
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(15,964
)
 
—

 
—

 
(15,964
)
Investments in unconsolidated entities
—

 
(4,944
)
 
—

 
—

 
(4,944
)
Return of capital from marketable securities unconsolidated entities
—

 
24,245

 
—

 
—

 
24,245

Increases in restricted cash
(2,982
)
 
(2,564
)
 
—

 
—

 
(5,546
)
Decreases in restricted cash
27,751

 
1,835

 
—

 
—

 
29,586

       Advances to/from subsidiaries
302,569

 
—

 
25

 
(302,594
)
 
—

Net cash provided by investing activities
327,338

 
2,608

 
25

 
(302,594
)
 
27,377

Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Repayment of debt
(8,703
)
 
(9,870
)
 
—

 
—

 
(18,573
)
Repayment of borrowing from credit facility
(75,000
)
 
—

 
—

 
—

 
(75,000
)
Borrowing from credit facility
75,000

 
—

 
—

 
—

 
75,000

Debt issuance costs
(126
)
 
—

 
—

 
—

 
(126
)
Other financing activities
(200
)
 
—

 
—

 
—

 
(200
)
Dividends paid
500

 
—

 
(500
)
 
—

 
—

Advances to/from subsidiaries
21

 
(300,897
)
 
—

 
300,876

 
—

Net cash used in financing activities
(8,508
)
 
(310,767
)
 
(500
)
 
300,876

 
(18,899
)
Decrease in cash and cash equivalents
(69,754
)
 
(491
)
 
(608
)
 
(1,718
)
 
(72,571
)
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
$
232,226

 
$
21,543

 
$
1,006

 
$
(3,192
)
 
$
251,583

 
 
 
 
 
 
 
 
 
 
Fiscal Year Ended September 30, 2014
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$
(119,074
)
 
$
(41,429
)
 
$
34

 
$
—

 
$
(160,469
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(14,553
)
 
—

 
—

 
(14,553
)
Investments in unconsolidated entities
—

 
(5,218
)
 
—

 
—

 
(5,218
)
Return of capital from unconsolidated entities
—

 
1,703

 
—

 
—

 
1,703

Increases in restricted cash
(14,111
)
 
(1,497
)
 
—

 
—

 
(15,608
)
Decreases in restricted cash
39

 
1,606

 
—

 
—

 
1,645

Advances to/from subsidiaries
(78,951
)
 
—

 
—


78,951

 
—

Net cash used in investing activities
(93,023
)
 
(17,959
)
 
—

 
78,951

 
(32,031
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Repayment of debt
(305,061
)
 
(2,541
)
 
—

 
—

 
(307,602
)
Proceeds from issuance of new debt
325,000

 
—

 
—

 
—

 
325,000

Debt issuance costs
(5,490
)
 
—

 
—

 
—

 
(5,490
)
Other financing activities
287

 
—

 
—

 
—

 
287

Advances to/from subsidiaries
—

 
77,639

 
(57
)
 
(77,582
)
 
—

Net cash provided by (used in) financing activities
14,736

 
75,098

 
(57
)
 
(77,582
)
 
12,195

(Decrease) increase in cash and cash equivalents
(197,361
)
 
15,710

 
(23
)
 
1,369

 
(180,305
)
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
$
301,980

 
$
22,034

 
$
1,614

 
$
(1,474
)
 
$
324,154