Supplemental Guarantor Information (Tables)

6 Months Ended

Mar. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Unaudited Condensed Consolidating Balance Sheet Information

Beazer Homes USA, Inc.

Unaudited Condensed Consolidating Balance Sheet Information

March 31, 2017

(In thousands)

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	142,287	$	956	$	804	$	(5,238	)	$	138,809
Restricted cash	13,344		1,352		—		—			14,696
Accounts receivable (net of allowance of $193)	—		43,778		3		—			43,781
Income tax receivable	288		—		—		—			288
Owned inventory	—		1,631,072		—		—			1,631,072
Investments in unconsolidated entities	773		5,339		—		—			6,112
Deferred tax assets, net	317,296		—		—		—			317,296
Property and equipment, net	—		18,981		—		—			18,981
Investments in subsidiaries	731,043		—		—		(731,043		)	—
Intercompany	766,146		—		2,365		(768,511		)	—
Other assets	769		3,383		14		—			4,166
Total assets	$	1,971,946	$	1,704,861	$	3,186	$	(1,504,792	)	$	2,175,201
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	100,290	$	—	$	—		$	100,290
Other liabilities	12,107		90,096		324		—			102,527
Intercompany	2,365		771,384		—		(773,749		)	—
Total debt (net of premium and debt issuance costs)	1,319,452		14,910		—		—			1,334,362
Total liabilities	1,333,924		976,680		324		(773,749		)	1,537,179
Stockholders’ equity	638,022		728,181		2,862		(731,043		)	638,022
Total liabilities and stockholders’ equity	$	1,971,946	$	1,704,861	$	3,186	$	(1,504,792	)	$	2,175,201

Beazer Homes USA, Inc.

Unaudited 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 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

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

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, 2017
Total revenue	$	—		$	425,468		$	24		$	(24	)	$	425,468
Home construction and land sales expenses	19,819			337,993			—			(24		)	357,788
Inventory impairments and abandonments	—			282			—			—			282
Gross profit (loss)	(19,819		)	87,193			24			—			67,398
Commissions	—			16,632			—			—			16,632
General and administrative expenses	—			40,071			29			—			40,100
Depreciation and amortization	—			3,155			—			—			3,155
Operating income (loss)	(19,819		)	27,335			(5		)	—			7,511
Equity in income of unconsolidated entities	—			33			—			—			33
Loss on extinguishment of debt	(15,563		)	—			—			—			(15,563		)
Other (expense) income, net	(4,046		)	114			(8		)	—			(3,940		)
Income (loss) before income taxes	(39,428		)	27,482			(13		)	—			(11,959		)
Expense (benefit) from income taxes	(14,478		)	10,019			(5		)	—			(4,464		)
Equity in income of subsidiaries	17,455			—			—			(17,455		)	—
Income (loss) from continuing operations	(7,495		)	17,463			(8		)	(17,455		)	(7,495		)
Loss from discontinued operations	—			(34		)	(6		)	—			(40		)
Equity in loss of subsidiaries from discontinued operations	(40		)				—			40			—
Net income (loss) and comprehensive income (loss)	$	(7,535	)	$	17,429		$	(14	)	$	(17,415	)	$	(7,535	)
	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 profit (loss)	(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 income (loss)	(16,157		)	19,190			(3		)	—			3,030
Equity in 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		)
Income (loss) before income taxes	(24,421		)	19,215			(4		)	—			(5,210		)
Expense (benefit) from 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.
Six Months Ended March 31, 2017
Total revenue	$	—		$	764,709		$	60		$	(60	)	$	764,709
Home construction and land sales expenses	35,463			607,963			—			(60		)	643,366
Inventory impairments and abandonments	—			282			—			—			282
Gross profit (loss)	(35,463		)	156,464			60			—			121,061
Commissions	—			29,955			—			—			29,955
General and administrative expenses	—			76,436			52			—			76,488
Depreciation and amortization	—			5,832			—			—			5,832
Operating income (loss)	(35,463		)	44,241			8			—			8,786
Equity in income of unconsolidated entities	—			55			—			—			55
Loss on extinguishment of debt	(15,563		)	—			—			—			(15,563		)
Other (expense) income, net	(9,298		)	171			(9		)	—			(9,136		)
Income (loss) before income taxes	(60,324		)	44,467			(1		)	—			(15,858		)
Expense (benefit) from income taxes	(22,048		)	15,044			—			—			(7,004		)
Equity in income of subsidiaries	29,422			—			—			(29,422		)	—
Income (loss) from continuing operations	(8,854		)	29,423			(1		)	(29,422		)	(8,854		)
Loss from discontinued operations	—			(101		)	(9		)	—			(110		)
Equity in loss of subsidiaries from discontinued operations	(110		)	—			—			110			—
Net income (loss) and comprehensive income (loss)	$	(8,964	)	$	29,322		$	(10	)	$	(29,312	)	$	(8,964	)
	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 profit (loss)	(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 income (loss)	(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		)
Income (loss) before income taxes	(46,048		)	42,612			41			—			(3,395		)
Expense (benefit) from income taxes	(22,060		)	18,762			16			—			(3,282		)
Equity in income of subsidiaries	23,875			—			—			(23,875		)	—
Income (loss) from continuing operations	(113		)	23,850			25			(23,875		)	(113		)
Loss from discontinued operations	—			(116		)	(6		)	—			(122		)
Equity in loss of subsidiaries and discontinued operations	(122		)	—			—			122			—
Net income (loss) and comprehensive income (loss)	$	(235	)	$	23,734		$	19		$	(23,753	)	$	(235	)

Unaudited Condensed Consolidating Statements of Cash Flow Information

Beazer Homes USA, Inc.

Unaudited 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.
Six Months Ended March 31, 2017
Net cash used in operating activities	$	(44,754	)	$	(27,243	)	$	(65	)	$	—		$	(72,062	)
Cash flows from investing activities:
Capital expenditures	—			(5,677		)	—			—			(5,677		)
Proceeds from sale of fixed assets	—			74			—			—			74
Investments in unconsolidated entities	—			(2,411		)	—			—			(2,411		)
Return of capital from unconsolidated entities	—			1,621			—			—			1,621
Increases in restricted cash	(3,424		)	(3,306		)	—			—			(6,730		)
Decreases in restricted cash	2,947			3,492			—			—			6,439
Advances to/from subsidiaries	(20,019		)	—			10			20,009			—
Net cash (used in) provided by investing activities	(20,496		)	(6,207		)	10			20,009			(6,684		)
Cash flows from financing activities:
Repayment of debt	(253,000		)	(3,207		)	—			—			(256,207		)
Proceeds from issuance of new debt	250,000			—			—			—			250,000
Repayment of borrowings from credit facility	(25,000		)	—			—			—			(25,000		)
Borrowings from credit facility	25,000			—			—			—			25,000
Debt issuance costs	(4,721		)	—			—			—			(4,721		)
Advances to/from subsidiaries	—			20,747			—			(20,747		)	—
Other financing activities	(388		)	—			—			—			(388		)
Net cash used in financing activities	(8,109		)	17,540			—			(20,747		)	(11,316		)
Decrease in cash and cash equivalents	(73,359		)	(15,910		)	(55		)	(738		)	(90,062		)
Cash and cash equivalents at beginning of period	215,646			16,866			859			(4,500		)	228,871
Cash and cash equivalents at end of period	$	142,287		$	956		$	804		$	(5,238	)	$	138,809
	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		)
Return of capital from 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 provided by (used in) 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
Borrowings from credit facility	25,000			—			—			—			25,000
Repayment of 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