Supplemental Guarantor Information (Tables)

3 Months Ended

Dec. 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

December 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	$	180,282	$	3,047	$	730	$	(6,247	)	$	177,812
Restricted cash	10,941		1,141		—		—			12,082
Accounts receivable (net of allowance of $329)	—		31,804		—		—			31,804
Income tax receivable	88		—		—		—			88
Owned inventory	—		1,626,721		—		—			1,626,721
Investments in unconsolidated entities	773		3,504		—		—			4,277
Deferred tax assets, net	200,101		—		—		—			200,101
Property and equipment, net	—		18,742		—		—			18,742
Investments in subsidiaries	710,741		—		—		(710,741		)	—
Intercompany	796,658		—		2,331		(798,989		)	—
Other assets	908		5,447		—		—			6,355
Total assets	$	1,900,492	$	1,690,406	$	3,061	$	(1,515,977	)	$	2,077,982
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	97,535	$	—	$	—		$	97,535
Other liabilities	25,025		77,882		250		—			103,157
Intercompany	2,331		802,905		—		(805,236		)	—
Total debt (net of premium and debt issuance costs)	1,320,355		4,154		—		—			1,324,509
Total liabilities	1,347,711		982,476		250		(805,236		)	1,525,201
Stockholders’ equity	552,781		707,930		2,811		(710,741		)	552,781
Total liabilities and stockholders’ equity	$	1,900,492	$	1,690,406	$	3,061	$	(1,515,977	)	$	2,077,982

Beazer Homes USA, Inc.

Unaudited Condensed Consolidating Balance Sheet Information

September 30, 2017

(In thousands)

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	283,191	$	15,393	$	724	$	(7,161	)	$	292,147
Restricted cash	11,001		1,461		—		—			12,462
Accounts receivable (net of allowance of $330)	—		36,322		1		—			36,323
Income tax receivable	88		—		—		—			88
Owned inventory	—		1,542,807		—		—			1,542,807
Investments in unconsolidated entities	773		3,221		—		—			3,994
Deferred tax assets, net	307,896		—		—		—			307,896
Property and equipment, net	—		17,566		—		—			17,566
Investments in subsidiaries	808,067		—		—		(808,067		)	—
Intercompany	606,168		—		2,337		(608,505		)	—
Other assets	599		7,098		15		—			7,712
Total assets	$	2,017,783	$	1,623,868	$	3,077	$	(1,423,733	)	$	2,220,995
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	103,484	$	—	$	—		$	103,484
Other liabilities	11,229		96,189		241		—			107,659
Intercompany	2,337		613,329		—		(615,666		)	—
Total debt (net of premium and debt issuance costs)	1,321,777		5,635		—		—			1,327,412
Total liabilities	1,335,343		818,637		241		(615,666		)	1,538,555
Stockholders’ equity	682,440		805,231		2,836		(808,067		)	682,440
Total liabilities and stockholders’ equity	$	2,017,783	$	1,623,868	$	3,077	$	(1,423,733	)	$	2,220,995

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 December 31, 2017
Total revenue	$	—		$	372,489		$	14		$	(14	)	$	372,489
Home construction and land sales expenses	16,468			295,206			—			(14		)	311,660
Gross (loss) profit	(16,468		)	77,283			14			—			60,829
Commissions	—			14,356			—			—			14,356
General and administrative expenses	—			37,244			41			—			37,285
Depreciation and amortization	—			2,507			—			—			2,507
Operating (loss) income	(16,468		)	23,176			(27		)	—			6,681
Equity in loss of unconsolidated entities	—			(101		)	—			—			(101		)
Loss on extinguishment of debt	(25,904		)	—			—			—			(25,904		)
Other (expense) income, net	(3,435		)	296			(6		)	—			(3,145		)
(Loss) income before income taxes	(45,807		)	23,371			(33		)	—			(22,469		)
(Benefit) expense from income taxes	(12,185		)	120,303			(12		)	—			108,106
Equity in income of subsidiaries	(96,953		)	—			—			96,953			—
Loss from continuing operations	(130,575		)	(96,932		)	(21		)	96,953			(130,575		)
Loss from discontinued operations	—			(369		)	(3		)	—			(372		)
Equity in loss of subsidiaries from discontinued operations	(372		)	—			—			372			—
Net loss and comprehensive loss	$	(130,947	)	$	(97,301	)	$	(24	)	$	97,325		$	(130,947	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2016
Total revenue	$	—		$	339,241		$	36		$	(36	)	$	339,241
Home construction and land sales expenses	15,644			269,970			—			(36		)	285,578
Gross (loss) profit	(15,644		)	69,271			36			—			53,663
Commissions	—			13,323			—			—			13,323
General and administrative expenses	—			36,365			23			—			36,388
Depreciation and amortization	—			2,677			—			—			2,677
Operating (loss) income	(15,644		)	16,906			13			—			1,275
Equity in income of unconsolidated entities	—			22			—			—			22
Other (expense) income, net	(5,252		)	57			(1		)	—			(5,196		)
(Loss) income before income taxes	(20,896		)	16,985			12			—			(3,899		)
(Benefit) expense from income taxes	(7,569		)	5,025			4			—			(2,540		)
Equity in income of subsidiaries	11,968			—			—			(11,968		)	—
(Loss) income from continuing operations	(1,359		)	11,960			8			(11,968		)	(1,359		)
Loss from discontinued operations	(70		)	—			—			—			(70		)
Equity in loss of subsidiaries from discontinued operations	—			(67		)	(3		)	70			—
Net (loss) income and comprehensive (loss) income	$	(1,429	)	$	11,893		$	5		$	(11,898	)	$	(1,429	)

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.
Three Months Ended December 31, 2017
Net cash provided by (used in) operating activities	$	91,465		$	(193,721	)	$	32		$	—		$	(102,224	)
Cash flows from investing activities:
Capital expenditures	—			(3,702		)	—			—			(3,702		)
Proceeds from sale of fixed assets	—			84			—			—			84
Investments in unconsolidated entities	—			(421		)	—			—			(421		)
Advances to/from subsidiaries	(187,451		)	—			(26		)	187,477			—
Net cash used in investing activities	(187,451		)	(4,039		)	(26		)	187,477			(4,039		)
Cash flows from financing activities:
Repayment of debt	(400,012		)	(1,469		)	—			—			(401,481		)
Proceeds from issuance of new debt	400,000			—			—			—			400,000
Debt issuance costs	(5,649		)	—			—			—			(5,649		)
Advances to/from subsidiaries	—			186,563			—			(186,563		)	—
Other financing activities	(1,322		)	—			—			—			(1,322		)
Net cash (used in) provided by financing activities	(6,983		)	185,094			—			(186,563		)	(8,452		)
(Decrease) increase in cash, cash equivalents and restricted cash	(102,969		)	(12,666		)	6			914			(114,715		)
Cash, cash equivalents and restricted cash at beginning of period	294,192			16,854			724			(7,161		)	304,609
Cash, cash equivalents and restricted cash at end of period	$	191,223		$	4,188		$	730		$	(6,247	)	$	189,894
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2016
Net cash used in operating activities	$	(2,902	)	$	(59,928	)	$	(4	)	$	—		$	(62,834	)
Cash flows from investing activities:
Capital expenditures	—			(2,874		)	—			—			(2,874		)
Proceeds from sale of fixed assets	—			46			—			—			46
Investments in unconsolidated entities	—			(1,397		)	—			—			(1,397		)
Return of capital from unconsolidated entities	—			1,621			—			—			1,621
Advances to/from subsidiaries	(50,314		)	—			—			50,314			—
Net cash used in investing activities	(50,314		)	(2,604		)	—			50,314			(2,604		)
Cash flows from financing activities:
Repayment of debt	—			(2,525		)	—			—			(2,525		)
Debt issuance costs	(340		)	—			—			—			(340		)
Advances to/from subsidiaries	—			52,224			(2		)	(52,222		)	—
Other financing activities	(387		)	—			—			—			(387		)
Net cash (used in) provided by financing activities	(727		)	49,699			(2		)	(52,222		)	(3,252		)
Decrease in cash, cash equivalents and restricted cash	(53,943		)	(12,833		)	(6		)	(1,908		)	(68,690		)
Cash, cash equivalents and restricted cash at beginning of period	228,513			18,404			859			(4,500		)	243,276
Cash, cash equivalents and restricted cash at end of period	$	174,570		$	5,571		$	853		$	(6,408	)	$	174,586