Supplemental Guarantor Information Supplemental Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2017

Supplemental Guarantor Information [Abstract]

Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block]

UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME
	Three Months Ended September 30, 2017
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries			Eliminations			Consolidated
Revenue	$	—	$	464,660	$	11,763		$	—		$	476,423
Costs and expenses:
Land and housing	—		374,673		—			—			374,673
General and administrative	—		25,263		6,074			—			31,337
Selling	—		31,136		—			—			31,136
Equity in income of joint venture arrangements	—		—		(71		)	—			(71		)
Interest	—		4,019		656			—			4,675
Total costs and expenses	—		435,091		6,659			—			441,750
Income before income taxes	—		29,569		5,104			—			34,673
Provision for income taxes	—		10,672		1,674			—			12,346
Equity in subsidiaries	22,327		—		—			(22,327		)	—
Net income	22,327		18,897		3,430			(22,327		)	22,327
Preferred dividends	1,218		—		—			—			1,218
Excess of fair value over book value of preferred shares subject to redemption	2,257		—		—			—			2,257
Net income to common shareholders	$	18,852	$	18,897	$	3,430		$	(22,327	)	$	18,852

	Three Months Ended September 30, 2016
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries			Eliminations			Consolidated
Revenue	$	—	$	431,903	$	10,561		$	—		$	442,464
Costs and expenses:
Land and housing	—		363,635		—			—			363,635
General and administrative	—		24,340		4,820			—			29,160
Selling	—		27,663		—			—			27,663
Equity in income of joint venture arrangements	—		—		(24		)	—			(24		)
Interest	—		3,036		551			—			3,587
Total costs and expenses	—		418,674		5,347			—			424,021
Income before income taxes	—		13,229		5,214			—			18,443
Provision for income taxes	—		5,601		1,900			—			7,501
Equity in subsidiaries	10,942		—		—			(10,942		)	—
Net income	10,942		7,628		3,314			(10,942		)	10,942
Preferred dividends	1,218		—		—			—			1,218
Net income to common shareholders	$	9,724	$	7,628	$	3,314		$	(10,942	)	$	9,724

UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME
	Nine Months Ended September 30, 2017
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries			Eliminations			Consolidated
Revenue	$	—	$	1,302,331	$	37,938		$	—		$	1,340,269
Costs and expenses:
Land and housing	—		1,062,552		—			—			1,062,552
General and administrative	—		72,638		16,571			—			89,209
Selling	—		88,666		—			—			88,666
Equity in income of joint venture arrangements	—		—		(198		)	—			(198		)
Interest	—		11,858		1,989			—			13,847
Total costs and expenses	—		1,235,714		18,362			—			1,254,076
Income before income taxes	—		66,617		19,576			—			86,193
Provision for income taxes	—		23,407		6,587			—			29,994
Equity in subsidiaries	56,199		—		—			(56,199		)	—
Net income	56,199		43,210		12,989			(56,199		)	56,199
Preferred dividends	3,656		—		—			—			3,656
Excess of fair value over book value of preferred shares subject to redemption	2,257		—		—			—			2,257
Net income to common shareholders	$	50,286	$	43,210	$	12,989		$	(56,199	)	$	50,286

	Nine Months Ended September 30, 2016
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries			Eliminations			Consolidated
Revenue	$	—	$	1,137,517	$	30,564		$	—		$	1,168,081
Costs and expenses:
Land and housing	—		943,515		—			—			943,515
General and administrative	—		64,727		13,522			—			78,249
Selling	—		75,462		—			—			75,462
Equity in income of joint venture arrangements	—		—		(413		)	—			(413		)
Interest	—		11,715		1,445			—			13,160
Total costs and expenses	—		1,095,419		14,554			—			1,109,973
Income before income taxes	—		42,098		16,010			—			58,108
Provision for income taxes	—		16,487		5,574			—			22,061
Equity in subsidiaries	36,047		—		—			(36,047		)	—
Net income	36,047		25,611		10,436			(36,047		)	36,047
Preferred dividends	3,656		—		—			—			3,656
Net income to common shareholders	$	32,391	$	25,611	$	10,436		$	(36,047	)	$	32,391

Schedule Of Condensed Consolidating Balance Sheet [Table Text Block]

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
	September 30, 2017
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries		Eliminations			Consolidated
ASSETS:
Cash, cash equivalents and restricted cash	$	—	$	82,504	$	21,132	$	—		$	103,636
Mortgage loans held for sale	—		—		91,987		—			91,987
Inventory	—		1,455,809		—		—			1,455,809
Property and equipment - net	—		24,325		995		—			25,320
Investment in joint venture arrangements	—		15,764		7,217		—			22,981
Deferred income taxes, net of valuation allowances	—		29,461		108		—			29,569
Investment in subsidiaries	710,176		—		—		(710,176		)	—
Intercompany assets	688,260		—		—		(688,260		)	—
Other assets	3,375		42,473		9,545		—			55,393
TOTAL ASSETS	$	1,401,811	$	1,650,336	$	130,984	$	(1,398,436	)	$	1,784,695
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES:
Accounts payable	$	—	$	120,049	$	549	$	—		$	120,598
Customer deposits	—		30,583		—		—			30,583
Intercompany liabilities	—		683,308		4,952		(688,260		)	—
Other liabilities	—		104,279		4,591		—			108,870
Preferred shares subject to redemption	50,420		—		—		—			50,420
Community development district obligations	—		5,298		—		—			5,298
Obligation for consolidated inventory not owned	—		22,203		—		—			22,203
Notes payable bank - financial services operations	—		—		91,275		—			91,275
Notes payable - other	—		4,057		—		—			4,057
Convertible senior subordinated notes due 2018 - net	85,955		—		—		—			85,955
Senior notes due 2021 - net	296,505		—		—		—			296,505
Senior notes due 2025 - net	245,958		—		—		—			245,958
TOTAL LIABILITIES	678,838		969,777		101,367		(688,260		)	1,061,722
SHAREHOLDERS’ EQUITY	722,973		680,559		29,617		(710,176		)	722,973
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,401,811	$	1,650,336	$	130,984	$	(1,398,436	)	$	1,784,695

CONDENSED CONSOLIDATING BALANCE SHEET
	December 31, 2016
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries		Eliminations			Consolidated
ASSETS:
Cash, cash equivalents and restricted cash	$	—	$	20,927	$	13,514	$	—		$	34,441
Mortgage loans held for sale	—		—		154,020		—			154,020
Inventory	—		1,215,934		—		—			1,215,934
Property and equipment - net	—		21,242		1,057		—			22,299
Investment in joint venture arrangements	—		12,537		15,479		—			28,016
Deferred income taxes, net of valuation allowances	—		30,767		108		—			30,875
Investment in subsidiaries	666,008		—		—		(666,008		)	—
Intercompany assets	424,669		—		—		(424,669		)	—
Other assets	1,690		43,809		17,427		—			62,926
TOTAL ASSETS	$	1,092,367	$	1,345,216	$	201,605	$	(1,090,677	)	$	1,548,511
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES:
Accounts payable	$	—	$	102,663	$	549	$	—		$	103,212
Customer deposits	—		22,156		—		—			22,156
Intercompany liabilities	—		411,196		13,473		(424,669		)	—
Other liabilities	—		117,133		6,029		—			123,162
Community development district obligations	—		476		—		—			476
Obligation for consolidated inventory not owned	—		7,528		—		—			7,528
Notes payable bank - homebuilding operations	—		40,300		—		—			40,300
Notes payable bank - financial services operations	—		—		152,895		—			152,895
Notes payable - other	—		6,415		—		—			6,415
Convertible senior subordinated notes due 2017 - net	57,093		—		—		—			57,093
Convertible senior subordinated notes due 2018 - net	85,423		—		—		—			85,423
Senior notes due 2021 - net	295,677		—		—		—			295,677
TOTAL LIABILITIES	438,193		707,867		172,946		(424,669		)	894,337
SHAREHOLDERS’ EQUITY	654,174		637,349		28,659		(666,008		)	654,174
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,092,367	$	1,345,216	$	201,605	$	(1,090,677	)	$	1,548,511

Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block]

UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
	Nine Months Ended September 30, 2017
(In thousands)	M/I Homes, Inc.			Guarantor Subsidiaries			Unrestricted Subsidiaries			Eliminations			Consolidated
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	12,031		$	(152,148	)	$	86,123		$	(12,031	)	$	(66,025	)
INVESTING ACTIVITIES:
Purchase of property and equipment	—			(5,848		)	(169		)	—			(6,017		)
Intercompany investing	(13,166		)	—			—			13,166			—
Investments in and advances to joint venture arrangements	—			(3,401		)	(5,038		)	—			(8,439		)
Return of capital from unconsolidated joint ventures	—			—			1,833			—			1,833
Net proceeds from the sale of mortgage servicing rights	—			—			7,558			—			7,558
Net cash (used in) provided by investing activities	(13,166		)	(9,249		)	4,184			13,166			(5,065		)
FINANCING ACTIVITIES:
Proceeds from issuance of senior notes	—			250,000			—			—			250,000
Proceeds from bank borrowings - homebuilding operations	—			366,500			—			—			366,500
Principal repayments of bank borrowings - homebuilding operations	—			(406,800		)	—			—			(406,800		)
Net repayments of bank borrowings - financial services operations	—			—			(61,620		)	—			(61,620		)
(Principal repayment of) proceeds from notes payable - other and CDD bond obligations	—			(2,358		)	—			—			(2,358		)
Proceeds from exercise of stock options	4,791			—			—			—			4,791
Intercompany financing	—			22,141			(8,975		)	(13,166		)	—
Dividends paid	(3,656		)	—			(12,031		)	12,031			(3,656		)
Debt issue costs	—			(6,509		)	(63		)	—			(6,572		)
Net cash provided by (used in) financing activities	1,135			222,974			(82,689		)	(1,135		)	140,285
Net increase in cash, cash equivalents and restricted cash	—			61,577			7,618			—			69,195
Cash, cash equivalents and restricted cash balance at beginning of period	—			20,927			13,514			—			34,441
Cash, cash equivalents and restricted cash balance at end of period	$	—		$	82,504		$	21,132		$	—		$	103,636

	Nine Months Ended September 30, 2016
(In thousands)	M/I Homes, Inc.			Guarantor Subsidiaries			Unrestricted Subsidiaries			Eliminations			Consolidated
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities (1)	$	7,138		$	(18,210	)	$	44,712		$	(7,138	)	$	26,502
INVESTING ACTIVITIES:
Purchase of property and equipment	—			(11,565		)	(54		)	—			(11,619		)
Intercompany Investing	(3,555		)	—			—			3,555			—
Investments in and advances to joint venture arrangements	—			(5,504		)	(4,556		)	—			(10,060		)
Net cash (used in) provided by investing activities (1)	(3,555		)	(17,069		)	(4,610		)	3,555			(21,679		)
FINANCING ACTIVITIES:
Proceeds from bank borrowings - homebuilding operations	—			276,800			—			—			276,800
Principal repayments of bank borrowings - homebuilding operations	—			(235,600		)	—			—			(235,600		)
Net repayments of bank borrowings - financial services operations	—			—			(32,165		)	—			(32,165		)
Principal proceeds from notes payable - other and CDD bond obligations	—			125			—			—			125
Intercompany financing	—			(630		)	(3,766		)	4,396			—
Dividends paid	(3,656		)	—			(7,138		)	7,138			(3,656		)
Debt issue costs	—			(153		)	(40		)	—			(193		)
Proceeds from exercise of stock options	73			—			—			—			73
Net cash (used in) provided by financing activities	(3,583		)	40,542			(43,109		)	11,534			5,384
Net increase (decrease) in cash, cash equivalents and restricted cash	—			5,263			(3,007		)	7,951			10,207
Cash, cash equivalents and restricted cash balance at beginning of period	—			2,896			18,156			(7,951		)	13,101
Cash, cash equivalents and restricted cash balance at end of period	$	—		$	8,159		$	15,149		$	—		$	23,308

(1) During the fourth quarter of 2016, we elected to early-adopt Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Certain amounts above have been adjusted to apply the new method retrospectively.