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Supplemental Guarantor Information
 12 Months Ended
Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract]  
Supplemental Guarantor Information
Supplemental Guarantor Information
As discussed in Note 8, the Company's obligations to pay principal, premium, if any, and interest under certain debt agreements are guaranteed on a joint and several basis by substantially all of the Company's subsidiaries. Some of the immaterial subsidiaries do not guarantee the Senior Notes 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 the Company's 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, 2019
 
in thousands
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
70,617

 
$
36,115

 
$
9

 
$
—

 
$
106,741

Restricted cash
14,847

 
1,206

 
—

 
—

 
16,053

Accounts receivable (net of allowance of $304)
—

 
26,394

 
1

 
—

 
26,395

Income tax receivable
4,935

 
—

 
—

 
—

 
4,935

Owned inventory
—

 
1,504,248

 
—

 
—

 
1,504,248

Investments in unconsolidated entities
773

 
3,189

 
—

 
—

 
3,962

Deferred tax assets, net
246,957

 
—

 
—

 
—

 
246,957

Property and equipment, net
—

 
27,421

 
—

 
—

 
27,421

Investments in subsidiaries
636,791

 
—

 
—

 
(636,791
)
 
—

Intercompany
753,769

 
—

 
1,680

 
(755,449
)
 
—

Goodwill
—

 
11,376

 
—

 
—

 
11,376

Other assets
1,235

 
8,317

 
4

 
—

 
9,556

Total assets
$
1,729,924

 
$
1,618,266

 
$
1,694

 
$
(1,392,240
)
 
$
1,957,644

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
Trade accounts payable
$
—

 
$
131,152

 
$
—

 
$
—

 
$
131,152

Other liabilities
12,335

 
97,081

 
13

 
—

 
109,429

Intercompany
1,680

 
753,769

 
—

 
(755,449
)
 
—

Total debt (net of premium and debt issuance costs)
1,177,155

 
1,154

 
—

 
—

 
1,178,309

Total liabilities
1,191,170

 
983,156

 
13

 
(755,449
)
 
1,418,890

Stockholders’ equity
538,754

 
635,110

 
1,681

 
(636,791
)
 
538,754

Total liabilities and stockholders’ equity
$
1,729,924

 
$
1,618,266

 
$
1,694

 
$
(1,392,240
)
 
$
1,957,644

Beazer Homes USA, Inc.
Condensed Consolidating Balance Sheet Information
September 30, 2018

in thousands
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
93,875

 
$
45,355

 
$
575

 
$
—

 
$
139,805

Restricted cash
10,921

 
2,522

 
—

 
—

 
13,443

Accounts receivable (net of allowance of $378)
—

 
24,647

 
—

 
—

 
24,647

Income tax receivable
—

 
—

 
—

 
—

 
—

Owned inventory
—

 
1,692,284

 
—

 
—

 
1,692,284

Investments in unconsolidated entities
773

 
3,262

 
—

 
—

 
4,035

Deferred tax assets, net
213,955

 
—

 
—

 
—

 
213,955

Property and equipment, net
—

 
20,843

 
—

 
—

 
20,843

Investments in subsidiaries
645,086

 
—

 
—

 
(645,086
)
 
—

Intercompany
922,525

 
—

 
2,304

 
(924,829
)
 
—

Goodwill
—

 
9,751

 
—

 
—

 
9,751

Other assets
694

 
8,626

 
19

 
—

 
9,339

Total assets
$
1,887,829

 
$
1,807,290

 
$
2,898

 
$
(1,569,915
)
 
$
2,128,102

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
Trade accounts payable
$
—

 
$
126,432

 
$
—

 
$
—

 
$
126,432

Other liabilities
14,357

 
111,906

 
126

 
—

 
126,389

Intercompany
2,304

 
922,525

 
—

 
(924,829
)
 
—

Total debt (net of discount and debt issuance costs)
1,227,141

 
4,113

 
—

 
—

 
1,231,254

Total liabilities
1,243,802

 
1,164,976

 
126

 
(924,829
)
 
1,484,075

Stockholders’ equity
644,027

 
642,314

 
2,772

 
(645,086
)
 
644,027

Total liabilities and stockholders’ equity
$
1,887,829

 
$
1,807,290

 
$
2,898

 
$
(1,569,915
)
 
$
2,128,102

Beazer Homes USA, Inc.
Consolidating Statements of Operations Information

in thousands
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
Fiscal Year Ended September 30, 2019
 
 
 
 
 
 
 
 
 
Total revenue
$
—

 
$
2,087,739

 
$
115

 
$
(115
)
 
$
2,087,739

Home construction and land sales expenses
93,875

 
1,679,325

 
—

 
(115
)
 
1,773,085

Inventory impairments and abandonments
13,908

 
134,710

 
—

 
—

 
148,618

Gross (loss) profit
(107,783
)
 
273,704

 
115

 
—

 
166,036

Commissions
—

 
79,802

 
—

 
—

 
79,802

General and administrative expenses
—

 
161,375

 
(4
)
 
—

 
161,371

Depreciation and amortization
—

 
14,759

 
—

 
—

 
14,759

Operating (loss) income
(107,783
)
 
17,768

 
119

 
—

 
(89,896
)
Equity in income of unconsolidated entities
—

 
404

 
—

 
—

 
404

Loss on extinguishment of debt
(24,920
)
 
—

 
—

 
—

 
(24,920
)
Other (expense) income, net
(3,109
)
 
887

 
(4
)
 
—

 
(2,226
)
(Loss) income from continuing operations before income taxes
(135,812
)
 
19,059

 
115

 
—

 
(116,638
)
(Benefit) expense from income taxes
(15,603
)
 
(21,643
)
 
29

 
—

 
(37,217
)
Equity in income of subsidiaries
40,788

 
—

 
—

 
(40,788
)
 
—

(Loss) income from continuing operations
(79,421
)
 
40,702

 
86

 
(40,788
)
 
(79,421
)
Loss from discontinued operations, net of tax
—

 
(85
)
 
(14
)
 
—

 
(99
)
Equity in loss of subsidiaries from discontinued operations
(99
)
 
—

 
—

 
99

 
—

Net (loss) income
$
(79,520
)
 
$
40,617

 
$
72

 
$
(40,689
)
 
$
(79,520
)
 
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
Fiscal Year Ended September 30, 2018
 
 
 
 
 
 
 
 
 
Total revenue
$
—

 
$
2,107,133

 
$
83

 
$
(83
)
 
$
2,107,133

Home construction and land sales expenses
91,132

 
1,664,570

 
—

 
(83
)
 
1,755,619

Inventory impairments and abandonments
1,961

 
4,538

 
—

 
—

 
6,499

Gross (loss) profit
(93,093
)
 
438,025

 
83

 
—

 
345,015

Commissions
—

 
81,002

 
—

 
—

 
81,002

General and administrative expenses
—

 
168,536

 
122

 
—

 
168,658

Depreciation and amortization
—

 
13,807

 
—

 
—

 
13,807

Operating (loss) income
(93,093
)
 
174,680

 
(39
)
 
—

 
81,548

Equity in income of unconsolidated entities
—

 
34

 
—

 
—

 
34

Loss on extinguishment of debt
(27,839
)
 
—

 
—

 
—

 
(27,839
)
Other (expense) income, net
(5,323
)
 
1,046

 
(28
)
 
—

 
(4,305
)
(Loss) income from continuing operations before income taxes
(126,255
)
 
175,760

 
(67
)
 
—

 
49,438

(Benefit) expense from income taxes
(93,714
)
 
188,217

 
(19
)
 
—

 
94,484

Equity in loss of subsidiaries
(12,505
)
 
—

 
—

 
12,505

 
—

Loss from continuing operations
(45,046
)
 
(12,457
)
 
(48
)
 
12,505

 
(45,046
)
Loss from discontinued operations, net of tax
—

 
(312
)
 
(17
)
 
—

 
(329
)
Equity in loss of subsidiaries
(329
)
 
—

 
—

 
329

 
—

Net loss
$
(45,375
)
 
$
(12,769
)
 
$
(65
)
 
$
12,834

 
$
(45,375
)


Beazer Homes USA, Inc.
 Consolidating Statements of Operations Information

in thousands
Beazer Homes
USA, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Beazer Homes
USA, Inc.
Fiscal Year Ended September 30, 2017
 
 
 
 
 
 
 
 
 
Total revenue
$
—

 
$
1,916,278

 
$
107

 
$
(107
)
 
$
1,916,278

Home construction and land sales expenses
88,764

 
1,512,312

 
—

 
(107
)
 
1,600,969

Inventory impairments and abandonments
56

 
2,389

 
—

 
—

 
2,445

Gross (loss) profit
(88,820
)
 
401,577

 
107

 
—

 
312,864

Commissions
—

 
74,811

 
—

 
—

 
74,811

General and administrative expenses
—

 
161,804

 
102

 
—

 
161,906

Depreciation and amortization
—

 
14,009

 
—

 
—

 
14,009

Operating (loss) income
(88,820
)
 
150,953

 
5

 
—

 
62,138

Equity in income of unconsolidated entities
—

 
371

 
—

 
—

 
371

Gain (Loss) on extinguishment of debt
(12,630
)
 
—

 
—

 
—

 
(12,630
)
Other (expense) income, net
(15,635
)
 
429

 
(24
)
 
—

 
(15,230
)
(Loss) income before income taxes
(117,085
)
 
151,753

 
(19
)
 
—

 
34,649

(Benefit) expense from income taxes
(42,564
)
 
45,266

 
(6
)
 
—

 
2,696

Equity in income of subsidiaries
106,474

 
—

 
—

 
(106,474
)
 
—

Income from continuing operations
31,953

 
106,487

 
(13
)
 
(106,474
)
 
31,953

Loss from discontinued operations, net of tax
—

 
(115
)
 
(25
)
 
—

 
(140
)
Equity in loss of subsidiaries
(140
)
 
—

 
—

 
140

 
—

Net income (loss)
$
31,813

 
$
106,372

 
$
(38
)
 
$
(106,334
)
 
$
31,813

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, 2019
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$
(107,882
)
 
$
221,529

 
$
(12
)
 
$
—

 
$
113,635

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(21,356
)
 
—

 
—

 
(21,356
)
Proceeds from sale of fixed assets
—

 
251

 
—

 
—

 
251

Acquisition, net of cash acquired
—

 
(4,088
)
 
—

 
—

 
(4,088
)
Return of capital from unconsolidated entities
—

 
68

 
—

 
—

 
68

Advances to/from subsidiaries
204,555

 
—

 
(554
)
 
(204,001
)
 
—

Net cash provided by (used in) investing activities
204,555


(25,125
)

(554
)

(204,001
)

(25,125
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Repayment of debt
(573,589
)
 
(2,959
)
 
—

 
—

 
(576,548
)
Proceeds from issuance of new debt
500,000

 
—

 
—

 
—

 
500,000

Repayment of borrowing from credit facility
(425,000
)
 
—

 
—

 
—

 
(425,000
)
Borrowings from credit facility
425,000

 
—

 
—

 
—

 
425,000

Debt issuance costs
(6,137
)
 
—

 
—

 
—

 
(6,137
)
Other financing activities
(1,655
)
 
—

 
—

 
—

 
(1,655
)
Repurchase of common stock
(34,624
)
 
—

 
—

 
—

 
(34,624
)
Advances to/from subsidiaries
—

 
(204,001
)
 
—

 
204,001

 
—

Net cash used in financing activities
(116,005
)
 
(206,960
)
 
—

 
204,001

 
(118,964
)
Decrease in cash and cash equivalents
(19,332
)
 
(10,556
)
 
(566
)
 
—

 
(30,454
)
Cash, cash equivalents and restricted cash at beginning of period
104,796

 
47,877

 
575

 
—

 
153,248

Cash, cash equivalents and restricted cash at end of period
$
85,464

 
$
37,321

 
$
9

 
$
—

 
$
122,794




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, 2018
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$
(1,163
)
 
$
56,153

 
$
(152
)
 
$
—

 
$
54,838

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(17,020
)
 
—

 
—

 
(17,020
)
Proceeds from sale of fixed assets
—

 
370

 
—

 
—

 
370

Acquisition, net of cash acquired
—

 
(57,253
)
 


 


 
(57,253
)
Investments in unconsolidated entities
—

 
(421
)
 
—

 
—

 
(421
)
Return of capital from unconsolidated entities
—

 
176

 
—

 
—

 
176

       Advances to/from subsidiaries
(56,182
)
 
—

 
3

 
56,179

 
—

Net cash (used in) provided by investing activities
(56,182
)
 
(74,148
)
 
3

 
56,179

 
(74,148
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Repayment of debt
(522,465
)
 
—

 
—

 
—

 
(522,465
)
Proceeds from issuance of new debt
400,000

 
—

 
—

 
—

 
400,000

Repayment of borrowing from credit facility
(225,000
)
 
—

 
—

 
—

 
(225,000
)
Borrowing from credit facility
225,000

 
—

 
—

 
—

 
225,000

Debt issuance costs
(6,272
)
 
—

 
—

 
—

 
(6,272
)
Other financing activities
(3,314
)
 
—

 
—

 
—

 
(3,314
)
Advances to/from subsidiaries
—

 
49,018

 
 
 
(49,018
)
 
—

Net cash (used in) provided by financing activities
(132,051
)
 
49,018

 
—

 
(49,018
)
 
(132,051
)
(Decrease) increase in cash and cash equivalents
(189,396
)
 
31,023

 
(149
)
 
7,161

 
(151,361
)
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
$
104,796

 
$
47,877

 
$
575

 
$
—

 
$
153,248

 
 
 
 
 
 
 
 
 
 
Fiscal Year Ended September 30, 2017
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$
(65,093
)
 
$
170,129

 
$
(174
)
 
$
—

 
$
104,862

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(12,440
)
 
—

 
—

 
(12,440
)
Proceeds from sale of fixed assets
—

 
297

 
—

 
—

 
297

Investments in unconsolidated entities
—

 
(3,261
)
 
—

 
—

 
(3,261
)
Return of capital from unconsolidated entities
—

 
1,621

 
—

 
—

 
1,621

Advances to/from subsidiaries
148,081

 
—

 
39

 
(148,120
)
 
—

Net cash provided by (used in) investing activities
148,081

 
(13,783
)
 
39

 
(148,120
)
 
(13,783
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Repayment of debt
(261,999
)
 
(12,437
)
 
—

 
—

 
(274,436
)
Proceeds from issuance of new debt
250,000

 
—

 
—

 
—

 
250,000

Borrowing from credit facility
25,000

 
—

 
—

 
—

 
25,000

Repayment of borrowing from credit facility
(25,000
)
 
—

 
—

 
—

 
(25,000
)
Debt issuance costs
(4,919
)
 
—

 
—

 
—

 
(4,919
)
Other financing activities
(391
)
 
—

 
—

 
—

 
(391
)
Advances to/from subsidiaries
—

 
(145,459
)
 
—

 
145,459

 
—

Net cash used in financing activities
(17,309
)
 
(157,896
)
 
—

 
145,459

 
(29,746
)
Increase (decrease) in cash and cash equivalents
65,679

 
(1,550
)
 
(135
)
 
(2,661
)
 
61,333

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
$
294,192

 
$
16,854

 
$
724

 
$
(7,161
)
 
$
304,609