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Supplemental Guarantor Information Supplemental Guarantor Information (Tables)
6 Months Ended
Jun. 30, 2015
Supplemental Guarantor Information [Abstract]  
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block]
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2015
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
Revenue
 
$

$
313,921

$
8,935

$

$
322,856

Costs and expenses:
 
 
 
 
 
 
Land and housing
 

252,595



252,595

General and administrative
 

17,868

3,837


21,705

Selling
 

22,935



22,935

Equity in income of unconsolidated joint ventures
 


(14
)

(14
)
Interest
 

3,355

395


3,750

Total costs and expenses
 

296,753

4,218


300,971

 
 
 
 
 
 
 
Income before income taxes
 

17,168

4,717


21,885

 
 
 
 
 
 
 
Provision for income taxes
 

6,767

1,768


8,535

 
 
 
 
 
 
 
Equity in subsidiaries
 
13,350



(13,350
)

 
 
 
 
 
 
 
Net income
 
13,350

10,401

2,949

(13,350
)
13,350

 
 
 
 
 
 
 
Preferred dividends
 
1,219




1,219

 
 
 
 
 
 
 
Net income to common shareholders
 
$
12,131

$
10,401

$
2,949

$
(13,350
)
$
12,131

 
 
Three Months Ended June 30, 2014
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
Revenue
 
$

$
275,138

$
6,470

$

$
281,608

Costs and expenses:
 
 
 
 
 
 
Land and housing
 

221,217



221,217

Impairment of inventory and investment in unconsolidated joint ventures
 

804



804

General and administrative
 

18,057

3,224


21,281

Selling
 

20,251



20,251

Equity in loss of unconsolidated joint ventures
 


22


22

Interest
 

2,428

302


2,730

Total costs and expenses
 

262,757

3,548


266,305

 
 
 
 
 
 
 
Income before income taxes
 

12,381

2,922


15,303

 
 
 
 
 
 
 
Provision for income taxes
 

344

1,405


1,749

 
 
 
 
 
 
 
Equity in subsidiaries
 
13,554



(13,554
)

 
 
 
 
 
 
 
Net income
 
13,554

12,037

1,517

(13,554
)
13,554

 
 
 
 
 
 
 
Preferred dividends
 
1,219




1,219

 
 
 
 
 
 
 
Net income to common shareholders
 
$
12,335

$
12,037

$
1,517

$
(13,554
)
$
12,335

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2015
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
Revenue
 
$

$
568,983

$
17,032

$

$
586,015

Costs and expenses:
 
 
 
 
 
 
Land and housing
 

458,778



458,778

General and administrative
 

34,254

6,785


41,039

Selling
 

40,621



40,621

Equity in income of unconsolidated joint ventures
 


(212
)

(212
)
Interest
 

7,486

726


8,212

Total costs and expenses
 

541,139

7,299


548,438

 
 
 
 
 
 
 
Income before income taxes
 

27,844

9,733


37,577

 
 
 
 
 
 
 
Provision for income taxes
 

11,159

3,500


14,659

 
 
 
 
 
 
 
Equity in subsidiaries
 
22,918



(22,918
)

 
 
 
 
 
 
 
Net income
 
22,918

16,685

6,233

(22,918
)
22,918

 
 
 
 
 
 
 
Preferred dividends
 
2,438




2,438

 
 
 
 
 
 
 
Net income to common shareholders
 
$
20,480

$
16,685

$
6,233

$
(22,918
)
$
20,480


 
 
Six Months Ended June 30, 2014
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
Revenue
 
$

$
502,114

$
14,335

$

$
516,449

Costs and expenses:
 
 
 
 
 
 
Land and housing
 

405,181



405,181

Impairment of inventory and investment in unconsolidated joint ventures
 

804



804

General and administrative
 

33,348

6,248


39,596

Selling
 

36,220



36,220

Equity in income of unconsolidated joint ventures
 


(40
)

(40
)
Interest
 

6,282

618


6,900

Total costs and expenses
 

481,835

6,826


488,661

 
 
 
 
 
 
 
Income before income taxes
 

20,279

7,509


27,788

 
 
 
 
 
 
 
(Benefit) provision for income taxes
 

(1,437
)
3,039


1,602

 
 
 
 
 
 
 
Equity in subsidiaries
 
26,186



(26,186
)

 
 
 
 
 
 
 
Net income
 
26,186

21,716

4,470

(26,186
)
26,186

 
 
 
 
 
 
 
Preferred dividends
 
2,438




2,438

 
 
 
 
 
 
 
Net income to common shareholders
 
$
23,748

$
21,716

$
4,470

$
(26,186
)
$
23,748

Schedule Of Condensed Consolidating Balance Sheet [Table Text Block]

CONDENSED CONSOLIDATING BALANCE SHEET
 
 
 
 
 
 
 
 
 
June 30, 2015
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
ASSETS:
 
 
 
 
 
 
Cash and cash equivalents
 
$

$
9,210

$
12,563

$

$
21,773

Restricted cash
 

5,174



5,174

Mortgage loans held for sale
 



75,063


75,063

Inventory
 

1,040,944



1,040,944

Property and equipment - net
 

11,514

305


11,819

Investment in unconsolidated joint ventures
 

13,594

14,763


28,357

Deferred income taxes, net of valuation allowances
 

80,962

92


81,054

Investment in subsidiaries
 
597,385



(597,385
)

Intercompany assets
 
334,304



(334,304
)

Other assets
 
7,903

29,249

13,653


50,805

TOTAL ASSETS
 
$
939,592

$
1,190,647

$
116,439

$
(931,689
)
$
1,314,989

 
 
 
 
 
 

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 

 
 
 
 
 
 

LIABILITIES:
 
 
 
 
 

Accounts payable
 
$

$
90,379

$
264

$

$
90,643

Customer deposits
 

18,438



18,438

Intercompany liabilities
 

317,567

16,737

(334,304
)

Other liabilities
 

62,196

4,998


67,194

Community development district obligations
 

1,496



1,496

Obligation for consolidated inventory not owned
 

14,115



14,115

Notes payable bank - homebuilding operations
 

105,600



105,600

Notes payable bank - financial services operations
 


69,681


69,681

Notes payable - other
 

8,230



8,230

Convertible senior subordinated notes due 2017
 
57,500




57,500

Convertible senior subordinated notes due 2018
 
86,250




86,250

Senior notes
 
228,669




228,669

TOTAL LIABILITIES
 
372,419

618,021

91,680

(334,304
)
747,816

 
 
 
 
 
 
 
SHAREHOLDERS’ EQUITY
 
567,173

572,626

24,759

(597,385
)
567,173

 
 
 
 
 
 
 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
 
$
939,592

$
1,190,647

$
116,439

$
(931,689
)
$
1,314,989


CONDENSED CONSOLIDATING BALANCE SHEET
 
 
 
 
 
 
 
 
 
December 31, 2014
(In thousands)
 
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
 
ASSETS:
 
 
 
 
 
 
Cash and cash equivalents
 
$

$
3,872

$
11,663

$

$
15,535

Restricted cash
 

6,951



6,951

Mortgage loans held for sale
 


92,794


92,794

Inventory
 

918,589



918,589

Property and equipment - net
 

11,189

301


11,490

Investment in unconsolidated joint ventures
 

15,033

12,736


27,769

Deferred income taxes, net of valuation allowances
 

94,088

324


94,412

Investment in subsidiaries
 
576,468



(576,468
)

Intercompany assets
 
330,786



(330,786
)

Other assets
 
9,260

24,378

10,232


43,870

TOTAL ASSETS
 
$
916,514

$
1,074,100

$
128,050

$
(907,254
)
$
1,211,410

 
 
 
 
 
 

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 

 
 
 
 
 
 

LIABILITIES:
 
 
 
 
 

Accounts payable
 
$

$
74,344

$
994

$

$
75,338

Customer deposits
 

11,759



11,759

Intercompany liabilities
 

314,946

15,840

(330,786
)

Other liabilities
 

74,413

5,310


79,723

Community development district obligations
 

2,571



2,571

Obligation for consolidated inventory not owned
 

608



608

Notes payable bank - homebuilding operations
 

30,000



30,000

Notes payable bank - financial services operations
 


85,379


85,379

Notes payable - other
 

9,518



9,518

Convertible senior subordinated notes due 2017
 
57,500




57,500

Convertible senior subordinated notes due 2018
 
86,250




86,250

Senior notes
 
228,469




228,469

TOTAL LIABILITIES
 
372,219

518,159

107,523

(330,786
)
667,115

 
 
 
 
 
 
 
SHAREHOLDERS’ EQUITY
 
544,295

555,941

20,527

(576,468
)
544,295

 
 
 
 
 
 
 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
 
$
916,514

$
1,074,100

$
128,050

$
(907,254
)
$
1,211,410



Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block]
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
 
 
 
 
 
 
 
Six Months Ended June 30, 2015
(In thousands)
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
OPERATING ACTIVITIES:
 
 
 
 
 
Net cash provided by (used in) operating activities
$
2,000

$
(65,777
)
$
19,567

$
(2,000
)
$
(46,210
)
 
 
 
 
 
 
INVESTING ACTIVITIES:
 
 
 
 
 
Restricted cash

1,583



1,583

Purchase of property and equipment

(1,337
)
(64
)

(1,401
)
Intercompany investing
98



(98
)

Investments in and advances to unconsolidated joint ventures

(2,555
)
(1,655
)

(4,210
)
Net cash provided by (used in) investing activities
98

(2,309
)
(1,719
)
(98
)
(4,028
)
 
 
 
 
 
 
FINANCING ACTIVITIES:
 
 
 
 
 
Proceeds from bank borrowings - homebuilding operations

220,700



220,700

Principal repayments of bank borrowings - homebuilding operations

(145,100
)


(145,100
)
Net proceeds from bank borrowings - financial services operations


(15,698
)

(15,698
)
Principal proceeds from notes payable - other and CDD bond obligations

(1,288
)


(1,288
)
Proceeds from exercise of stock options
340




340

Intercompany financing

(888
)
790

98


Dividends paid
(2,438
)

(2,000
)
2,000

(2,438
)
Debt issue costs


(40
)

(40
)
Net cash (used in) provided by financing activities
(2,098
)
73,424

(16,948
)
2,098

56,476

 
 
 
 
 
 
Net increase in cash and cash equivalents

5,338

900


6,238

Cash and cash equivalents balance at beginning of period

3,872

11,663


15,535

Cash and cash equivalents balance at end of period
$

$
9,210

$
12,563

$

$
21,773


 
Six Months Ended June 30, 2014
(In thousands)
M/I Homes, Inc.
Guarantor Subsidiaries
Unrestricted Subsidiaries
Eliminations
Consolidated
 
 
 
 
 
 
OPERATING ACTIVITIES:
 
 
 
 
 
Net cash provided by (used in) operating activities
$
6,400

$
(93,426
)
$
26,757

$
(6,400
)
$
(66,669
)
 
 
 
 
 
 
INVESTING ACTIVITIES:
 
 
 
 
 
Restricted cash

3,819



3,819

Purchase of property and equipment

(1,578
)
(99
)

(1,677
)
Investments in and advances to unconsolidated joint ventures

(10,318
)
(3,166
)

(13,484
)
Net proceeds from the sale of mortgage servicing rights


2,135


2,135

Net cash used in investing activities

(8,077
)
(1,130
)

(9,207
)
 
 
 
 
 
 
FINANCING ACTIVITIES:
 
 
 
 
 
Net repayments from bank borrowings - financial services operations


(18,115
)

(18,115
)
Principal repayments from notes payable - other and CDD bond obligations

(73
)


(73
)
Proceeds from exercise of stock options
1,460




1,460

Intercompany financing
(5,422
)
7,876

(2,454
)


Dividends paid
(2,438
)

(6,400
)
6,400

(2,438
)
Debt issue costs


(40
)

(40
)
Net cash (used in) provided by financing activities
(6,400
)
7,803

(27,009
)
6,400

(19,206
)
 
 
 
 
 
 
Net decrease in cash and cash equivalents

(93,700
)
(1,382
)

(95,082
)
Cash and cash equivalents balance at beginning of period

113,407

15,318


128,725

Cash and cash equivalents balance at end of period
$

$
19,707

$
13,936

$

$
33,643