Supplemental Guarantor Information Supplemental Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2019

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, 2019
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries			Eliminations			Consolidated
Revenue	$	—	$	639,891	$	13,454		$	—		$	653,345
Costs and expenses:
Land and housing	—		519,164		—			—			519,164
General and administrative	—		32,332		7,053			—			39,385
Selling	—		40,147		—			—			40,147
Equity in income from joint venture arrangements	—		—		(52		)	—			(52		)
Interest	—		3,650		987			—			4,637
Total costs and expenses	—		595,293		7,988			—			603,281
Income before income taxes	—		44,598		5,466			—			50,064
Provision for income taxes	—		11,222		1,004			—			12,226
Equity in subsidiaries	37,838		—		—			(37,838		)	—
Net income	$	37,838	$	33,376	$	4,462		$	(37,838	)	$	37,838

	Three Months Ended September 30, 2018
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries			Eliminations			Consolidated
Revenue	$	—	$	555,649	$	12,193		$	—		$	567,842
Costs and expenses:
Land and housing	—		452,029		—			—			452,029
General and administrative	—		30,180		6,717			—			36,897
Selling	—		35,054		—			—			35,054
Equity in income from joint venture arrangements	—		—		(44		)	—			(44		)
Interest	—		3,592		834			—			4,426
Total costs and expenses	—		520,855		7,507			—			528,362
Income before income taxes	—		34,794		4,686			—			39,480
Provision for income taxes	—		9,253		945			—			10,198
Equity in subsidiaries	29,282		—		—			(29,282		)	—
Net income	$	29,282	$	25,541	$	3,741		$	(29,282	)	$	29,282

UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME
	Nine Months Ended September 30, 2019
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries			Eliminations			Consolidated
Revenue	$	—	$	1,718,600	$	39,540		$	—		$	1,758,140
Costs and expenses:
Land and housing	—		1,411,488		—			—			1,411,488
General and administrative	—		86,080		20,168			—			106,248
Selling	—		109,150		—			—			109,150
Equity in income from joint venture arrangements	—		—		(118		)	—			(118		)
Interest	—		13,962		2,664			—			16,626
Total costs and expenses	—		1,620,680		22,714			—			1,643,394
Income before income taxes	—		97,920		16,826			—			114,746
Provision for income taxes	—		25,555		3,384			—			28,939
Equity in subsidiaries	85,807		—		—			(85,807		)	—
Net income	$	85,807	$	72,365	$	13,442		$	(85,807	)	$	85,807

	Nine Months Ended September 30, 2018
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries			Eliminations			Consolidated
Revenue	$	—	$	1,524,702	$	39,095		$	—		$	1,563,797
Costs and expenses:
Land and housing	—		1,250,067		—			—			1,250,067
General and administrative	—		80,921		18,593			—			99,514
Selling	—		100,708		—			—			100,708
Acquisition and integration costs	—		1,700		—			—			1,700
Equity in income from joint venture arrangements	—		—		(268		)	—			(268		)
Interest	—		12,893		2,299			—			15,192
Total costs and expenses	—		1,446,289		20,624			—			1,466,913
Income before income taxes	—		78,413		18,471			—			96,884
Provision for income taxes	—		17,711		3,917			—			21,628
Equity in subsidiaries	75,256		—		—			(75,256		)	—
Net income	$	75,256	$	60,702	$	14,554		$	(75,256	)	$	75,256

Schedule Of Condensed Consolidating Balance Sheet [Table Text Block]

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
	September 30, 2019
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries		Eliminations			Consolidated
ASSETS:
Cash, cash equivalents and restricted cash	$	—	$	19,366	$	14,085	$	—		$	33,451
Mortgage loans held for sale	—		—		128,322		—			128,322
Inventory	—		1,827,068		—		—			1,827,068
Property and equipment - net	—		26,794		827		—			27,621
Investment in joint venture arrangements	—		44,946		2,611		—			47,557
Operating lease right-of-use assets	—		15,716		3,343		—			19,059
Deferred income tax asset	—		11,988		—		—			11,988
Investment in subsidiaries	894,263		—		—		(894,263		)	—
Intercompany assets	604,413		—		—		(604,413		)	—
Goodwill	—		16,400		—		—			16,400
Other assets	1,639		56,200		12,298		—			70,137
TOTAL ASSETS	$	1,500,315	$	2,018,478	$	161,486	$	(1,498,676	)	$	2,181,603
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES:
Accounts payable	$	—	$	168,950	$	578	$	—		$	169,528
Customer deposits	—		36,250		—		—			36,250
Operating lease liabilities	—		15,718		3,341		—			19,059
Intercompany liabilities	—		600,611		3,802		(604,413		)	—
Other liabilities	—		126,285		5,149		—			131,434
Community development district obligations	—		14,328		—		—			14,328
Obligation for consolidated inventory not owned	—		6,687		—		—			6,687
Notes payable bank - homebuilding operations	—		189,900		—		—			189,900
Notes payable bank - financial services operations	—		—		108,594		—			108,594
Notes payable - other	—		5,508		—		—			5,508
Senior notes due 2021 - net	298,712		—		—		—			298,712
Senior notes due 2025 - net	246,962		—		—		—			246,962
TOTAL LIABILITIES	545,674		1,164,237		121,464		(604,413		)	1,226,962
SHAREHOLDERS’ EQUITY	954,641		854,241		40,022		(894,263		)	954,641
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,500,315	$	2,018,478	$	161,486	$	(1,498,676	)	$	2,181,603

CONDENSED CONSOLIDATING BALANCE SHEET
	December 31, 2018
(In thousands)	M/I Homes, Inc.		Guarantor Subsidiaries		Unrestricted Subsidiaries		Eliminations			Consolidated
ASSETS:
Cash, cash equivalents and restricted cash	$	—	$	5,554	$	15,975	$	—		$	21,529
Mortgage loans held for sale	—		—		169,651		—			169,651
Inventory	—		1,674,460		—		—			1,674,460
Property and equipment - net	—		28,485		910		—			29,395
Investment in joint venture arrangements	—		33,297		2,573		—			35,870
Deferred income tax asset	—		13,482		—		—			13,482
Investment in subsidiaries	817,986		—		—		(817,986		)	—
Intercompany assets	579,447		—		—		(579,447		)	—
Goodwill	—		16,400		—		—			16,400
Other assets	2,325		47,738		10,731		—			60,794
TOTAL ASSETS	$	1,399,758	$	1,819,416	$	199,840	$	(1,397,433	)	$	2,021,581
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES:
Accounts payable	$	—	$	131,089	$	422	$	—		$	131,511
Customer deposits	—		32,055		—		—			32,055
Intercompany liabilities	—		578,498		949		(579,447		)	—
Other liabilities	—		140,860		9,191		—			150,051
Community development district obligations	—		12,392		—		—			12,392
Obligation for consolidated inventory not owned	—		19,308		—		—			19,308
Notes payable bank - homebuilding operations	—		117,400		—		—			117,400
Notes payable bank - financial services operations	—		—		153,168		—			153,168
Notes payable - other	—		5,938		—		—			5,938
Senior notes due 2021 - net	297,884		—		—		—			297,884
Senior notes due 2025 - net	246,571		—		—		—			246,571
TOTAL LIABILITIES	544,455		1,037,540		163,730		(579,447		)	1,166,278
SHAREHOLDERS’ EQUITY	855,303		781,876		36,110		(817,986		)	855,303
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,399,758	$	1,819,416	$	199,840	$	(1,397,433	)	$	2,021,581

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

UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
	Nine Months Ended September 30, 2019
(In thousands)	M/I Homes, Inc.			Guarantor Subsidiaries			Unrestricted Subsidiaries			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	9,530		$	(48,625	)	$	49,602		$	(9,530	)	$	977
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	—			(2,438		)	(188		)	—			(2,626		)
Return of capital from unconsolidated joint ventures	—			—			438			—			438
Intercompany investing	(18,728		)	—			—			18,728			—
Investments in and advances to joint venture arrangements	—			(23,351		)	(171		)	—			(23,522		)
Net cash (used in) provided by investing activities	(18,728		)	(25,789		)	79			18,728			(25,710		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank borrowings - homebuilding operations	—			568,900			—			—			568,900
Principal repayments of bank borrowings - homebuilding operations	—			(496,400		)	—			—			(496,400		)
Net repayments of bank borrowings - financial services operations	—			—			(44,574		)	—			(44,574		)
Principal repayment of notes payable - other and CDD bond obligations	—			(429		)	—			—			(429		)
Intercompany financing	—			16,155			2,573			(18,728		)	—
Repurchase of common shares	(5,150		)	—			—			—			(5,150		)
Dividends paid	—			—			(9,530		)	9,530			—
Debt issue costs	—			—			(40		)	—			(40		)
Proceeds from exercise of stock options	14,348			—			—			—			14,348
Net cash provided by (used in) financing activities	9,198			88,226			(51,571		)	(9,198		)	36,655
Net increase (decrease) in cash, cash equivalents and restricted cash	—			13,812			(1,890		)	—			11,922
Cash, cash equivalents and restricted cash balance at beginning of period	—			5,554			15,975			—			21,529
Cash, cash equivalents and restricted cash balance at end of period	$	—		$	19,366		$	14,085		$	—		$	33,451

	Nine Months Ended September 30, 2018
(In thousands)	M/I Homes, Inc.			Guarantor Subsidiaries			Unrestricted Subsidiaries			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	11,700		$	(144,828	)	$	69,709		$	(11,700	)	$	(75,119	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	—			(5,636		)	(230		)	—			(5,866		)
Return of capital from unconsolidated joint ventures	—			—			676			—			676
Acquisition, net of cash acquired	—			(100,960		)	—			—			(100,960		)
Intercompany Investing	(1,041		)	—			—			1,041			—
Investments in and advances to joint venture arrangements	—			(19,412		)	(1,075		)	—			(20,487		)
Proceeds from the sale of mortgage servicing rights	—			—			6,335			—			6,335
Net cash (used in) provided by investing activities	(1,041		)	(126,008		)	5,706			1,041			(120,302		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of convertible senior subordinated notes due 2018	—			(65,941		)	—			—			(65,941		)
Proceeds from bank borrowings - homebuilding operations	—			519,900			—			—			519,900
Principal repayments of bank borrowings - homebuilding operations	—			(297,200		)	—			—			(297,200		)
Net repayments of bank borrowings - financial services operations	—			—			(64,169		)	—			(64,169		)
Principal repayments of notes payable - other and CDD bond obligations	—			(1,738		)	—			—			(1,738		)
Intercompany financing	—			5,862			(4,821		)	(1,041		)	—
Repurchase of common shares	(11,085		)	—			—			—			(11,085		)
Dividends paid	—			—			(11,700		)	11,700			—
Debt issue costs	—			(75		)	(40		)	—			(115		)
Proceeds from exercise of stock options	426			—			—			—			426
Net cash (used in) provided by financing activities	(10,659		)	160,808			(80,730		)	10,659			80,078
Net decrease in cash, cash equivalents and restricted cash	—			(110,028		)	(5,315		)	—			(115,343		)
Cash, cash equivalents and restricted cash balance at beginning of period	—			131,522			20,181			—			151,703
Cash, cash equivalents and restricted cash balance at end of period	$	—		$	21,494		$	14,866		$	—		$	36,360