Supplemental Guarantor Information

6 Months Ended

Mar. 31, 2015

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 issuances 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 or the Facility. The guarantees are full and unconditional and the guarantor subsidiaries are 100% owned by Beazer Homes USA, Inc.

Beazer Homes USA, Inc.

Unaudited Consolidating Balance Sheet Information

March 31, 2015

(In thousands)

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	136,642	$	12,037	$	981	$	(3,399	)	$	146,261
Restricted cash	41,665		1,504		—		—			43,169
Accounts receivable (net of allowance of $1,305)	—		35,877		3		—			35,880
Income tax receivable	46		—		—		—			46
Owned inventory	—		1,757,036		—		—			1,757,036
Investments in marketable securities and unconsolidated entities	773		9,599		—		—			10,372
Deferred tax assets, net	46		—		—		—			46
Property, plant and equipment, net	—		21,153		—		—			21,153
Investments in subsidiaries	251,040		—		—		(251,040		)	—
Intercompany	1,359,657		—		2,394		(1,362,051		)	—
Other assets	14,835		3,365		90		—			18,290
Total assets	$	1,804,704	$	1,840,571	$	3,468	$	(1,616,490	)	$	2,032,253
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	100,844	$	—	$	—		$	100,844
Other liabilities	32,109		104,694		632		—			137,435
Intercompany	2,394		1,363,056		—		(1,365,450		)	—
Total debt (net of discounts of $4,019)	1,511,399		23,773		—		—			1,535,172
Total liabilities	1,545,902		1,592,367		632		(1,365,450		)	1,773,451
Stockholders’ equity	258,802		248,204		2,836		(251,040		)	258,802
Total liabilities and stockholders’ equity	$	1,804,704	$	1,840,571	$	3,468	$	(1,616,490	)	$	2,032,253

Beazer Homes USA, Inc.

Unaudited Consolidating Balance Sheet Information

September 30, 2014

(In thousands)

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	301,980	$	22,034	$	1,614	$	(1,474	)	$	324,154
Restricted cash	61,945		996		—		—			62,941
Accounts receivable (net of allowance of $1,245)	—		34,428		1		—			34,429
Income tax receivable	46		—		—		—			46
Owned inventory	—		1,557,496		—		—			1,557,496
Consolidated inventory not owned	—		3,857		—		—			3,857
Investments in marketable securities and unconsolidated entities	773		37,568		—		—			38,341
Deferred tax assets, net	2,823		—		—		—			2,823
Property, plant and equipment, net	—		18,673		—		—			18,673
Investments in subsidiaries	253,540		—		—		(253,540		)	—
Intercompany	1,195,349		—		2,405		(1,197,754		)	—
Other assets	17,226		6,144		90		—			23,460
Total assets	$	1,833,682	$	1,681,196	$	4,110	$	(1,452,768	)	$	2,066,220
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	106,237	$	—	$	—		$	106,237
Other liabilities	38,871		102,833		812		—			142,516
Intercompany	2,405		1,196,823		—		(1,199,228		)	—
Obligations related to land not owned under option agreements	—		2,916		—		—			2,916
Total debt (net of discounts of $4,399)	1,513,288		22,145		—		—			1,535,433
Total liabilities	1,554,564		1,430,954		812		(1,199,228		)	1,787,102
Stockholders’ equity	279,118		250,242		3,298		(253,540		)	279,118
Total liabilities and stockholders’ equity	$	1,833,682	$	1,681,196	$	4,110	$	(1,452,768	)	$	2,066,220

Beazer Homes USA, Inc.

Unaudited Consolidating Statements of Income 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, 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) income, 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 (loss) income	$	(1,996	)	$	9,030		$	(5	)	$	(9,025	)	$	(1,996	)
Change in unrealized loss related to available-for-sale securities	1,070			—			—			—			1,070
Comprehensive (loss) income	$	(926	)	$	9,030		$	(5	)	$	(9,025	)	$	(926	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2014
Total revenue	$	—		$	270,021		$	100		$	(100	)	$	270,021
Home construction and land sales expenses	7,379			209,690			—			(100		)	216,969
Inventory impairments and option contract abandonments	—			880			—			—			880
Gross (loss) profit	(7,379		)	59,451			100			—			52,172
Commissions	—			11,096			—			—			11,096
General and administrative expenses	—			32,592			36			—			32,628
Depreciation and amortization	—			2,831			—			—			2,831
Operating (loss) income	(7,379		)	12,932			64			—			5,617
Equity in loss of unconsolidated entities	—			(17		)	—			—			(17		)
Loss on extinguishment of debt	(153		)	—			—			—			(153		)
Other (expense) income, net	(14,659		)	933			(1		)	—			(13,727		)
(Loss) income before income taxes	(22,191		)	13,848			63			—			(8,280		)
(Benefit from) provision for income taxes	(210		)	131			23			—			(56		)
Equity in income of subsidiaries	13,757			—			—			(13,757		)	—
(Loss) income from continuing operations	(8,224		)	13,717			40			(13,757		)	(8,224		)
Income (loss) from discontinued operations	—			257			(4		)	—			253
Equity in income of subsidiaries from discontinued operations	253			—			—			(253		)	—
Net (loss) income and comprehensive (loss) income	$	(7,971	)	$	13,974		$	36		$	(14,010	)	$	(7,971	)

Beazer Homes USA, Inc.

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

(In thousands)

	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 from discontinued operations	(4,190		)	—			—			4,190			—
Net (loss) income	$	(24,336	)	$	(2,038	)	$	37		$	2,001		$	(24,336	)
Change in unrealized loss related to available-for-sale securities	1,276			—			—			—			1,276
Comprehensive (loss) income	$	(23,060	)	$	(2,038	)	$	37		$	2,001		$	(23,060	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2014
Total revenue	$	—		$	563,191		$	180		$	(180	)	$	563,191
Home construction and land sales expenses	14,514			441,104			—			(180		)	455,438
Inventory impairments and option contract abandonments	—			911			—			—			911
Gross (loss) profit	(14,514		)	121,176			180			—			106,842
Commissions	—			22,917			—			—			22,917
General and administrative expenses	—			60,976			62			—			61,038
Depreciation and amortization	—			5,738			—			—			5,738
Operating (loss) income	(14,514		)	31,545			118			—			17,149
Equity in income of unconsolidated entities	—			302			—			—			302
Loss on extinguishment of debt	(153		)	—			—			—			(153		)
Other (expense) income, net	(30,692		)	1,212			(4		)	—			(29,484		)
(Loss) income before income taxes	(45,359		)	33,059			114			—			(12,186		)
(Benefit from) provision for income taxes	(199		)	145			40			—			(14		)
Equity in income of subsidiaries	32,988			—			—			(32,988		)	—
(Loss) income from continuing operations	(12,172		)	32,914			74			(32,988		)	(12,172		)
Loss from discontinued operations	—			(930		)	(7		)	—			(937		)
Equity in loss of subsidiaries and discontinued operations	(937		)	—			—			937			—
Net (loss) income and comprehensive (loss) income	$	(13,109	)	$	31,984		$	67		$	(32,051	)	$	(13,109	)

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, 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
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2014
Net cash used in operating activities	$	(45,803	)	$	(142,360	)	$	111		$	—		$	(188,052	)
Cash flows from investing activities:
Capital expenditures	—			(6,641		)	—			—			(6,641		)
Investments in unconsolidated entities	—			(3,193		)	—			—			(3,193		)
Increases in restricted cash	(1,898		)	(690		)	—			—			(2,588		)
Decreases in restricted cash	39			762			—			—			801
Net cash used in investing activities	(1,859		)	(9,762		)	—			—			(11,621		)
Cash flows from financing activities:
Repayment of debt	(3,857		)	(890		)	—			—			(4,747		)
Debt issuance costs	(26		)	—			—			—			(26		)
Advances to/from subsidiaries	(145,227		)	148,387			(59		)	(3,101		)	—
Other financing activities	(393		)	—			—			—			(393		)
Net cash (used in) provided by financing activities	(149,503		)	147,497			(59		)	(3,101		)	(5,166		)
Decrease in cash and cash equivalents	(197,165		)	(4,625		)	52			(3,101		)	(204,839		)
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	$	302,176		$	1,699		$	1,689		$	(5,944	)	$	299,620