Consolidating Balance Sheet

December 31, 2016



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	1,012.2	$	61.2	$	76.9	$	—		$	1,150.3
Restricted cash	7.0		1.8		—		—			8.8
Investments in subsidiaries	4,234.3		—		—		(4,234.3		)	—
Inventories	3,092.0		5,525.3		125.1		—			8,742.4
Deferred income taxes	158.4		306.5		2.9		—			467.8
Property and equipment, net	81.7		55.0		86.9		(5.2		)	218.4
Other assets	169.7		261.2		65.2		—			496.1
Mortgage loans held for sale	—		—		548.3		—			548.3
Goodwill	—		80.0		—		—			80.0
Intercompany receivables	1,517.8		—		—		(1,517.8		)	—
Total Assets	$	10,273.1	$	6,291.0	$	905.3	$	(5,757.3	)	$	11,712.1
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	497.7	$	900.4	$	116.4	$	(1.8	)	$	1,512.7
Intercompany payables	—		1,293.5		224.3		(1,517.8		)	—
Notes payable	2,790.7		7.9		419.0		—			3,217.6
Total Liabilities	3,288.4		2,201.8		759.7		(1,519.6		)	4,730.3
Stockholders’ equity	6,984.7		4,089.2		145.1		(4,237.7		)	6,981.3
Noncontrolling interests	—		—		0.5		—			0.5
Total Equity	6,984.7		4,089.2		145.6		(4,237.7		)	6,981.8
Total Liabilities & Equity	$	10,273.1	$	6,291.0	$	905.3	$	(5,757.3	)	$	11,712.1

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Balance Sheet

September 30, 2016



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	1,076.4	$	154.0	$	72.8	$	—		$	1,303.2
Restricted cash	7.4		2.1		—		—			9.5
Investments in subsidiaries	4,118.6		—		—		(4,118.6		)	—
Inventories	2,822.1		5,425.7		93.1		—			8,340.9
Deferred income taxes	159.3		314.1		2.9		—			476.3
Property and equipment, net	72.0		49.9		78.7		(5.2		)	195.4
Other assets	168.7		274.2		56.7		—			499.6
Mortgage loans held for sale	—		—		654.0		—			654.0
Goodwill	—		80.0		—		—			80.0
Intercompany receivables	1,604.5		—		—		(1,604.5		)	—
Total Assets	$	10,029.0	$	6,300.0	$	958.2	$	(5,728.3	)	$	11,558.9
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	444.1	$	933.1	$	119.2	$	(1.8	)	$	1,494.6
Intercompany payables	—		1,417.1		187.4		(1,604.5		)	—
Notes payable	2,789.0		9.3		473.0		—			3,271.3
Total Liabilities	3,233.1		2,359.5		779.6		(1,606.3		)	4,765.9
Stockholders’ equity	6,795.9		3,940.5		178.1		(4,122.0		)	6,792.5
Noncontrolling interests	—		—		0.5		—			0.5
Total Equity	6,795.9		3,940.5		178.6		(4,122.0		)	6,793.0
Total Liabilities & Equity	$	10,029.0	$	6,300.0	$	958.2	$	(5,728.3	)	$	11,558.9

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended December 31, 2016



	D.R. Horton, Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	918.1		$	1,896.1	$	11.9		$	—		$	2,826.1
Cost of sales	735.4			1,524.7		7.8			—			2,267.9
Gross profit	182.7			371.4		4.1			—			558.2
Selling, general and administrative expense	124.0			143.3		1.1			—			268.4
Equity in (income) of subsidiaries	(255.3		)	—		—			255.3			—
Other (income) expense	(4.1		)	—		—			—			(4.1		)
Homebuilding pre-tax income	318.1			228.1		3.0			(255.3		)	293.9
Financial Services and Other:
Revenues	—			—		78.1			—			78.1
General and administrative expense	—			—		57.5			—			57.5
Interest and other (income) expense	—			—		(3.6		)	—			(3.6		)
Financial services and other pre-tax income	—			—		24.2			—			24.2
Income before income taxes	318.1			228.1		27.2			(255.3		)	318.1
Income tax expense	111.2			79.2		10.2			(89.4		)	111.2
Net income	$	206.9		$	148.9	$	17.0		$	(165.9	)	$	206.9
Comprehensive income	$	206.9		$	148.9	$	17.0		$	(165.9	)	$	206.9

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended December 31, 2015



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	795.6		$	1,570.9		$	—		$	(5.4	)	$	2,361.1
Cost of sales	638.9			1,253.8			2.4			(2.9		)	1,892.2
Gross profit (loss)	156.7			317.1			(2.4		)	(2.5		)	468.9
Selling, general and administrative expense	111.9			129.2			0.6			—			241.7
Equity in (income) of subsidiaries	(195.7		)	—			—			195.7			—
Other (income) expense	(0.8		)	(0.7		)	(0.2		)	—			(1.7		)
Homebuilding pre-tax income (loss)	241.3			188.6			(2.8		)	(198.2		)	228.9
Financial Services and Other:
Revenues	—			—			55.3			—			55.3
General and administrative expense	—			—			47.7			—			47.7
Interest and other (income) expense	—			—			(4.8		)	—			(4.8		)
Financial services and other pre-tax income	—			—			12.4			—			12.4
Income before income taxes	241.3			188.6			9.6			(198.2		)	241.3
Income tax expense	83.6			65.1			3.7			(68.8		)	83.6
Net income	$	157.7		$	123.5		$	5.9		$	(129.4	)	$	157.7
Comprehensive income	$	158.9		$	123.5		$	5.9		$	(129.4	)	$	158.9

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Three Months Ended December 31, 2016



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(107.1	)	$	40.5		$	83.3		$	(50.0	)	$	(33.3	)
INVESTING ACTIVITIES
Purchases of property and equipment	(10.5		)	(5.4		)	(6.3		)	—			(22.2		)
Decrease (increase) in restricted cash	0.4			0.3			(6.7		)	—			(6.0		)
Net principal decrease of other mortgage loans and real estate owned	—			—			1.0			—			1.0
Intercompany advances	91.1			—			—			(91.1		)	—
Payments related to acquisition of a business	(4.1		)	—			—			—			(4.1		)
Net cash provided by (used in) investing activities	76.9			(5.1		)	(12.0		)	(91.1		)	(31.3		)
FINANCING ACTIVITIES
Repayment of notes payable	—			(0.3		)	(54.0		)	—			(54.3		)
Intercompany advances	—			(127.9		)	36.8			91.1			—
Proceeds from stock associated with certain employee benefit plans	2.8			—			—			—			2.8
Excess income tax benefit from employee stock awards	0.5			—			—			—			0.5
Cash dividends paid	(37.3		)	—			(50.0		)	50.0			(37.3		)
Net cash used in financing activities	(34.0		)	(128.2		)	(67.2		)	141.1			(88.3		)
(Decrease) increase in cash and cash equivalents	(64.2		)	(92.8		)	4.1			—			(152.9		)
Cash and cash equivalents at beginning of period	1,076.4			154.0			72.8			—			1,303.2
Cash and cash equivalents at end of period	$	1,012.2		$	61.2		$	76.9		$	—		$	1,150.3

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Three Months Ended December 31, 2015



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	35.7		$	(111.3	)	$	114.1		$	(40.0	)	$	(1.5	)
INVESTING ACTIVITIES
Purchases of property and equipment	(10.6		)	(4.7		)	(4.8		)	—			(20.1		)
Decrease (increase) in restricted cash	0.1			(0.1		)	—			—			—
Net principal increase of other mortgage loans and real estate owned	—			—			(2.1		)	—			(2.1		)
Intercompany advances	(66.4		)	—			—			66.4			—
Net cash used in investing activities	(76.9		)	(4.8		)	(6.9		)	66.4			(22.2		)
FINANCING ACTIVITIES
Repayment of notes payable	—			(0.2		)	(80.8		)	—			(81.0		)
Intercompany advances	—			55.9			10.5			(66.4		)	—
Proceeds from stock associated with certain employee benefit plans	17.0			—			—			—			17.0
Excess income tax benefit from employee stock awards	2.2			—			—			—			2.2
Cash dividends paid	(29.6		)	—			(40.0		)	40.0			(29.6		)
Net cash (used in) provided by financing activities	(10.4		)	55.7			(110.3		)	(26.4		)	(91.4		)
Decrease in cash and cash equivalents	(51.6		)	(60.4		)	(3.1		)	—			(115.1		)
Cash and cash equivalents at beginning of period	1,217.7			94.6			71.5			—			1,383.8
Cash and cash equivalents at end of period	$	1,166.1		$	34.2		$	68.4		$	—		$	1,268.7