Consolidating Balance Sheet

December 31, 2014



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	424.5	$	42.5	$	74.0	$	—		$	541.0
Restricted cash	6.4		2.1		1.1		—			9.6
Investments in subsidiaries	2,984.3		—		—		(2,984.3		)	—
Inventories	2,760.3		5,205.0		24.0		—			7,989.3
Deferred income taxes	187.5		354.5		10.7		—			552.7
Property and equipment, net	54.6		48.2		87.9		—			190.7
Other assets	168.3		252.9		85.6		—			506.8
Mortgage loans held for sale	—		—		453.8		—			453.8
Goodwill	—		94.8		—		—			94.8
Intercompany receivables	2,459.1		—		—		(2,459.1		)	—
Total Assets	$	9,045.0	$	6,000.0	$	737.1	$	(5,443.4	)	$	10,338.7
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	407.4	$	802.1	$	138.6	$	—		$	1,348.1
Intercompany payables	—		2,347.0		112.1		(2,459.1		)	—
Notes payable	3,376.7		8.0		342.1		—			3,726.8
Total Liabilities	3,784.1		3,157.1		592.8		(2,459.1		)	5,074.9
Total stockholders’ equity	5,260.9		2,842.9		141.4		(2,984.3		)	5,260.9
Noncontrolling interests	—		—		2.9		—			2.9
Total Equity	5,260.9		2,842.9		144.3		(2,984.3		)	5,263.8
Total Liabilities & Equity	$	9,045.0	$	6,000.0	$	737.1	$	(5,443.4	)	$	10,338.7

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Balance Sheet

September 30, 2014



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	497.4	$	89.5	$	74.9	$	—		$	661.8
Restricted cash	6.8		2.1		1.1		—			10.0
Investments in subsidiaries	2,878.2		—		—		(2,878.2		)	—
Inventories	2,675.9		5,014.3		10.3		—			7,700.5
Deferred income taxes	189.9		364.4		10.7		—			565.0
Property and equipment, net	51.9		49.1		89.8		—			190.8
Other assets	163.0		250.8		88.9		—			502.7
Mortgage loans held for sale	—		—		476.9		—			476.9
Goodwill	—		94.8		—		—			94.8
Intercompany receivables	2,364.2		—		—		(2,364.2		)	—
Total Assets	$	8,827.3	$	5,865.0	$	752.6	$	(5,242.4	)	$	10,202.5
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	409.8	$	853.3	$	136.9	$	—		$	1,400.0
Intercompany payables	—		2,282.2		82.0		(2,364.2		)	—
Notes payable	3,301.7		3.4		377.7		—			3,682.8
Total Liabilities	3,711.5		3,138.9		596.6		(2,364.2		)	5,082.8
Total stockholders’ equity	5,115.8		2,726.1		152.1		(2,878.2		)	5,115.8
Noncontrolling interests	—		—		3.9		—			3.9
Total Equity	5,115.8		2,726.1		156.0		(2,878.2		)	5,119.7
Total Liabilities & Equity	$	8,827.3	$	5,865.0	$	752.6	$	(5,242.4	)	$	10,202.5

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended December 31, 2014



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	696.8		$	1,556.2		$	—		$	—		$	2,253.0
Cost of sales	554.0			1,257.0			3.4			—			1,814.4
Gross profit	142.8			299.2			(3.4		)	—			438.6
Selling, general and administrative expense	110.2			121.2			6.6			—			238.0
Equity in (income) of subsidiaries	(187.8		)	—			—			187.8			—
Other (income)	(0.3		)	(1.3		)	(3.9		)	—			(5.5		)
Homebuilding pre-tax income (loss)	220.7			179.3			(6.1		)	(187.8		)	206.1
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			49.6			—			49.6
General and administrative expense	—			—			37.8			—			37.8
Interest and other (income)	—			—			(2.8		)	—			(2.8		)
Financial services pre-tax income	—			—			14.6			—			14.6
Income before income taxes	220.7			179.3			8.5			(187.8		)	220.7
Income tax expense	78.2			63.2			3.4			(66.6		)	78.2
Net income	$	142.5		$	116.1		$	5.1		$	(121.2	)	$	142.5
Comprehensive income	$	142.5		$	116.1		$	5.1		$	(121.2	)	$	142.5

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended December 31, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	552.1		$	1,080.2		$	3.3		$	—		$	1,635.6
Cost of sales	429.6			840.3			3.7			—			1,273.6
Gross profit (loss)	122.5			239.9			(0.4		)	—			362.0
Selling, general and administrative expense	88.9			92.6			1.9			—			183.4
Equity in (income) of subsidiaries	(155.6		)	—			—			155.6			—
Other (income)	(0.5		)	(0.9		)	(1.9		)	—			(3.3		)
Homebuilding pre-tax income (loss)	189.7			148.2			(0.4		)	(155.6		)	181.9
Financial Services:
Revenues, net of recourse and reinsurance expense	—			—			35.0			—			35.0
General and administrative expense	—			—			29.8			—			29.8
Interest and other (income)	—			—			(2.6		)	—			(2.6		)
Financial services pre-tax income	—			—			7.8			—			7.8
Income before income taxes	189.7			148.2			7.4			(155.6		)	189.7
Income tax expense	66.5			52.0			2.6			(54.6		)	66.5
Net income	$	123.2		$	96.2		$	4.8		$	(101.0	)	$	123.2
Comprehensive income	$	123.2		$	96.2		$	4.8		$	(101.0	)	$	123.2

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Three Months Ended December 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	$	(28.9	)	$	(107.7	)	$	22.6		$	(15.0	)	$	(129.0	)
INVESTING ACTIVITIES
Purchases of property and equipment	(7.5		)	(3.8		)	—			—			(11.3		)
Decrease in restricted cash	0.4			—			—			—			0.4
Net principal increase of other mortgage loans and real estate owned	—			—			(3.0		)	—			(3.0		)
Intercompany advances	(94.9		)	—			—			94.9			—
Net cash used in investing activities	(102.0		)	(3.8		)	(3.0		)	94.9			(13.9		)
FINANCING ACTIVITIES
Proceeds from notes payable	490.0			—			—			—			490.0
Repayment of notes payable	(415.0		)	(0.3		)	(35.6		)	—			(450.9		)
Intercompany advances	—			64.8			30.1			(94.9		)	—
Proceeds from stock associated with certain employee benefit plans	4.6			—			—			—			4.6
Excess income tax benefit from employee stock awards	1.2			—			—			—			1.2
Cash dividends paid	(22.8		)	—			(15.0		)	15.0			(22.8		)
Net cash provided by (used in) financing activities	58.0			64.5			(20.5		)	(79.9		)	22.1
Decrease in cash and cash equivalents	(72.9		)	(47.0		)	(0.9		)	—			(120.8		)
Cash and cash equivalents at beginning of period	497.4			89.5			74.9			—			661.8
Cash and cash equivalents at end of period	$	424.5		$	42.5		$	74.0		$	—		$	541.0

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Three Months Ended December 31, 2013



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(55.5	)	$	(8.3	)	$	96.1		$	(40.0	)	$	(7.7	)
INVESTING ACTIVITIES
Purchases of property and equipment	(6.4		)	(8.6		)	(3.3		)	—			(18.3		)
(Increase) decrease in restricted cash	(3.7		)	0.3			0.1			—			(3.3		)
Net principal increase of other mortgage loans and real estate owned	—			—			(1.2		)	—			(1.2		)
Intercompany advances	4.6			—			—			(4.6		)	—
Payments related to acquisition of a business	(34.5		)	—			—			—			(34.5		)
Net cash used in investing activities	(40.0		)	(8.3		)	(4.4		)	(4.6		)	(57.3		)
FINANCING ACTIVITIES
Repayment of notes payable	(3.0		)	—			(52.8		)	—			(55.8		)
Intercompany advances	—			(2.0		)	(2.6		)	4.6			—
Proceeds from stock associated with certain employee benefit plans	3.3			—			—			—			3.3
Excess income tax benefit from employee stock awards	0.9			—			—			—			0.9
Cash dividends paid	—			—			(40.0		)	40.0			—
Net cash provided by (used in) financing activities	1.2			(2.0		)	(95.4		)	44.6			(51.6		)
Decrease in cash and cash equivalents	(94.3		)	(18.6		)	(3.7		)	—			(116.6		)
Cash and cash equivalents at beginning of period	871.4			38.4			67.6			—			977.4
Cash and cash equivalents at end of period	$	777.1		$	19.8		$	63.9		$	—		$	860.8