Consolidating Balance Sheet

March 31, 2014



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	862.8	$	63.0	$	25.6	$	—		$	951.4
Restricted cash	78.6		1.2		—		—			79.8
Investments in subsidiaries	2,648.4		—		—		(2,648.4		)	—
Inventories	2,444.8		4,323.2		15.6		—			6,783.6
Deferred income taxes	199.0		370.8		—		—			569.8
Property and equipment, net	46.3		42.7		34.3		—			123.3
Other assets	143.1		224.4		113.7		—			481.2
Mortgage loans held for sale	—		—		342.5		—			342.5
Goodwill	—		41.2		—		—			41.2
Intercompany receivables	1,888.9		—		—		(1,888.9		)	—
Total Assets	$	8,311.9	$	5,066.5	$	531.7	$	(4,537.3	)	$	9,372.8
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	330.8	$	705.7	$	124.6	$	—		$	1,161.1
Intercompany payables	—		1,857.3		31.6		(1,888.9		)	—
Notes payable	3,634.8		3.5		223.8		—			3,862.1
Total Liabilities	3,965.6		2,566.5		380.0		(1,888.9		)	5,023.2
Total stockholders’ equity	4,346.3		2,500.0		148.4		(2,648.4		)	4,346.3
Noncontrolling interests	—		—		3.3		—			3.3
Total Equity	4,346.3		2,500.0		151.7		(2,648.4		)	4,349.6
Total Liabilities & Equity	$	8,311.9	$	5,066.5	$	531.7	$	(4,537.3	)	$	9,372.8

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Balance Sheet

September 30, 2013



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	871.4	$	38.4	$	26.7	$	—		$	936.5
Restricted cash	76.5		1.2		0.1		—			77.8
Investments in subsidiaries	2,477.7		—		—		(2,477.7		)	—
Inventories	2,177.4		4,002.9		17.1		—			6,197.4
Deferred income taxes	201.7		384.9		—		—			586.6
Property and equipment, net	41.0		34.5		31.2		—			106.7
Other assets	167.0		233.4		117.0		—			517.4
Mortgage loans held for sale	—		—		395.1		—			395.1
Goodwill	—		38.9		—		—			38.9
Intercompany receivables	1,697.0		—		—		(1,697.0		)	—
Total Assets	$	7,709.7	$	4,734.2	$	587.2	$	(4,174.7	)	$	8,856.4
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	383.8	$	766.5	$	135.7	$	—		$	1,286.0
Intercompany payables	—		1,664.2		32.8		(1,697.0		)	—
Notes payable	3,267.4		3.0		238.6		—			3,509.0
Total Liabilities	3,651.2		2,433.7		407.1		(1,697.0		)	4,795.0
Total stockholders’ equity	4,058.5		2,300.5		177.2		(2,477.7		)	4,058.5
Noncontrolling interests	—		—		2.9		—			2.9
Total Equity	4,058.5		2,300.5		180.1		(2,477.7		)	4,061.4
Total Liabilities & Equity	$	7,709.7	$	4,734.2	$	587.2	$	(4,174.7	)	$	8,856.4

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended March 31, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	574.1		$	1,119.7		$	2.8		$	—		$	1,696.6
Cost of sales	453.5			864.0			2.3			—			1,319.8
Gross profit	120.6			255.7			0.5			—			376.8
Selling, general and administrative expense	87.9			97.7			2.3			—			187.9
Equity in (income) of subsidiaries	(169.0		)	—			—			169.0			—
Other (income)	(0.2		)	(1.1		)	(1.5		)	—			(2.8		)
Homebuilding pre-tax income (loss)	201.9			159.1			(0.3		)	(169.0		)	191.7
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			38.4			—			38.4
General and administrative expense	—			—			30.2			—			30.2
Interest and other (income)	—			—			(2.0		)	—			(2.0		)
Financial services pre-tax income	—			—			10.2			—			10.2
Income before income taxes	201.9			159.1			9.9			(169.0		)	201.9
Income tax expense	70.9			55.9			3.4			(59.3		)	70.9
Net income	$	131.0		$	103.2		$	6.5		$	(109.7	)	$	131.0
Comprehensive income	$	131.0		$	103.5		$	6.5		$	(109.7	)	$	131.3

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Six Months Ended March 31, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	1,126.2		$	2,200.0		$	6.1		$	—		$	3,332.3
Cost of sales	883.0			1,704.5			6.0			—			2,593.5
Gross profit	243.2			495.5			0.1			—			738.8
Selling, general and administrative expense	176.9			190.2			4.2			—			371.3
Equity in (income) of subsidiaries	(324.6		)	—			—			324.6			—
Other (income)	(0.7		)	(2.0		)	(3.4		)	—			(6.1		)
Homebuilding pre-tax income (loss)	391.6			307.3			(0.7		)	(324.6		)	373.6
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			73.3			—			73.3
General and administrative expense	—			—			60.0			—			60.0
Interest and other (income)	—			—			(4.7		)	—			(4.7		)
Financial services pre-tax income	—			—			18.0			—			18.0
Income before income taxes	391.6			307.3			17.3			(324.6		)	391.6
Income tax expense	137.5			107.9			6.0			(113.9		)	137.5
Net income	$	254.1		$	199.4		$	11.3		$	(210.7	)	$	254.1
Comprehensive income	$	254.1		$	199.7		$	11.3		$	(210.7	)	$	254.4

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended March 31, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	441.2		$	947.2		$	2.0		$	—		$	1,390.4
Cost of sales	354.7			756.0			(1.5		)	—			1,109.2
Gross profit	86.5			191.2			3.5			—			281.2
Selling, general and administrative expense	75.4			78.2			1.5			—			155.1
Equity in (income) of subsidiaries	(132.3		)	—			—			132.3			—
Interest expense	1.9			—			—			—			1.9
Other (income)	(0.6		)	(1.0		)	(1.6		)	—			(3.2		)
Homebuilding pre-tax income	142.1			114.0			3.6			(132.3		)	127.4
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			41.2			—			41.2
General and administrative expense	—			—			28.0			—			28.0
Interest and other (income)	—			—			(1.5		)	—			(1.5		)
Financial services pre-tax income	—			—			14.7			—			14.7
Income before income taxes	142.1			114.0			18.3			(132.3		)	142.1
Income tax expense	31.1			20.8			0.8			(21.6		)	31.1
Net income	$	111.0		$	93.2		$	17.5		$	(110.7	)	$	111.0
Comprehensive income	$	111.0		$	93.2		$	17.5		$	(110.7	)	$	111.0

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Six Months Ended March 31, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	847.5		$	1,770.6		$	5.4		$	—		$	2,623.5
Cost of sales	681.7			1,421.7			8.1			—			2,111.5
Gross profit (loss)	165.8			348.9			(2.7		)	—			512.0
Selling, general and administrative expense	139.4			153.3			3.1			—			295.8
Equity in (income) of subsidiaries	(227.2		)	—			—			227.2			—
Interest expense	5.1			—			—			—			5.1
Other (income)	(1.5		)	(2.2		)	(2.8		)	—			(6.5		)
Homebuilding pre-tax income (loss)	250.0			197.8			(3.0		)	(227.2		)	217.6
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			83.0			—			83.0
General and administrative expense	—			—			53.6			—			53.6
Interest and other (income)	—			—			(3.0		)	—			(3.0		)
Financial services pre-tax income	—			—			32.4			—			32.4
Income before income taxes	250.0			197.8			29.4			(227.2		)	250.0
Income tax expense	72.7			47.6			2.3			(49.9		)	72.7
Net income	$	177.3		$	150.2		$	27.1		$	(177.3	)	$	177.3
Comprehensive income	$	177.1		$	150.2		$	27.1		$	(177.3	)	$	177.1

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Six Months Ended March 31, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(169.9	)	$	(118.9	)	$	61.9		$	(40.0	)	$	(266.9	)
INVESTING ACTIVITIES
Purchases of property and equipment	(12.3		)	(15.1		)	(5.4		)	—			(32.8		)
(Increase) decrease in restricted cash	(2.1		)	—			0.1			—			(2.0		)
Net principal increase of other mortgage loans and real estate owned	—			—			(1.7		)	—			(1.7		)
Intercompany advances	(157.4		)	—			—			157.4			—
Payments related to acquisition of a business	(34.5		)	—			—			—			(34.5		)
Net cash used in investing activities	(206.3		)	(15.1		)	(7.0		)	157.4			(71.0		)
FINANCING ACTIVITIES
Proceeds from notes payable	497.0			—			—			—			497.0
Repayment of notes payable	(148.8		)	—			(14.8		)	—			(163.6		)
Intercompany advances	—			158.6			(1.2		)	(157.4		)	—
Proceeds from stock associated with certain employee benefit plans	29.6			—			—			—			29.6
Excess income tax benefit from employee stock awards	1.9			—			—			—			1.9
Cash dividends paid	(12.1		)	—			(40.0		)	40.0			(12.1		)
Net cash provided by (used in) financing activities	367.6			158.6			(56.0		)	(117.4		)	352.8
(Decrease) increase in cash and cash equivalents	(8.6		)	24.6			(1.1		)	—			14.9
Cash and cash equivalents at beginning of period	871.4			38.4			26.7			—			936.5
Cash and cash equivalents at end of period	$	862.8		$	63.0		$	25.6		$	—		$	951.4

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Six Months Ended March 31, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash used in operating activities	$	(310.0	)	$	(484.2	)	$	(16.1	)	$	(30.0	)	$	(840.3	)
INVESTING ACTIVITIES
Purchases of property and equipment	(12.9		)	(4.8		)	(7.6		)	—			(25.3		)
Purchases of marketable securities	(28.9		)	—			—			—			(28.9		)
Proceeds from the sale or maturity of marketable securities	325.4			—			—			—			325.4
Increase in restricted cash	(4.7		)	(0.5		)	—			—			(5.2		)
Purchase of debt securities collateralized by residential real estate	(18.6		)	—			—			—			(18.6		)
Intercompany advances	(495.3		)	—			—			495.3			—
Payments related to acquisition of a business	(9.4		)	—			—			—			(9.4		)
Net cash (used in) provided by investing activities	(244.4		)	(5.3		)	(7.6		)	495.3			238.0
FINANCING ACTIVITIES
Proceeds from notes payable	860.0			—			58.0			—			918.0
Repayment of notes payable	(170.4		)	—			—			—			(170.4		)
Intercompany advances	—			497.5			(2.2		)	(495.3		)	—
Proceeds from stock associated with certain employee benefit plans	17.7			—			—			—			17.7
Cash dividends paid	(60.2		)	—			(30.0		)	30.0			(60.2		)
Net cash provided by financing activities	647.1			497.5			25.8			(465.3		)	705.1
Increase in cash and cash equivalents	92.7			8.0			2.1			—			102.8
Cash and cash equivalents at beginning of period	968.9			56.3			22.5			—			1,047.7
Cash and cash equivalents at end of period	$	1,061.6		$	64.3		$	24.6		$	—		$	1,150.5