Consolidating Balance Sheet

June 30, 2017



	D.R. Horton, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Total
	(In millions)
ASSETS
Cash and cash equivalents	$	329.3	$	89.8	$	93.3	$	—		$	512.4
Restricted cash	8.5		2.4		—		—			10.9
Investments in subsidiaries	4,595.5		—		—		(4,595.5		)	—
Inventories	3,586.1		5,837.2		130.7		—			9,554.0
Deferred income taxes	142.9		237.9		2.9		—			383.7
Property and equipment, net	104.3		58.4		125.3		(5.2		)	282.8
Other assets	204.9		252.6		68.4		—			525.9
Mortgage loans held for sale	—		—		627.4		—			627.4
Goodwill	—		80.0		—		—			80.0
Intercompany receivables	1,422.0		—		—		(1,422.0		)	—
Total Assets	$	10,393.5	$	6,558.3	$	1,048.0	$	(6,022.7	)	$	11,977.1
LIABILITIES & EQUITY
Accounts payable and other liabilities	$	511.8	$	967.7	$	136.2	$	(1.8	)	$	1,613.9
Intercompany payables	—		1,139.2		282.8		(1,422.0		)	—
Notes payable	2,442.1		11.0		473.4		—			2,926.5
Total Liabilities	2,953.9		2,117.9		892.4		(1,423.8		)	4,540.4
Stockholders’ equity	7,439.6		4,440.4		155.1		(4,598.9		)	7,436.2
Noncontrolling interests	—		—		0.5		—			0.5
Total Equity	7,439.6		4,440.4		155.6		(4,598.9		)	7,436.7
Total Liabilities & Equity	$	10,393.5	$	6,558.3	$	1,048.0	$	(6,022.7	)	$	11,977.1

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 June 30, 2017



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	1,332.0		$	2,352.3		$	0.2		$	—		$	3,684.5
Cost of sales	1,056.7			1,900.9			3.5			—			2,961.1
Gross profit (loss)	275.3			451.4			(3.3		)	—			723.4
Selling, general and administrative expense	148.5			159.9			1.1			—			309.5
Equity in (income) of subsidiaries	(317.0		)	—			—			317.0			—
Other (income) expense	(0.7		)	(0.2		)	(0.4		)	—			(1.3		)
Homebuilding pre-tax income (loss)	444.5			291.7			(4.0		)	(317.0		)	415.2
Financial Services and Other:
Revenues	—			—			91.9			—			91.9
General and administrative expense	—			—			65.0			—			65.0
Interest and other (income) expense	—			—			(2.4		)	—			(2.4		)
Financial services and other pre-tax income	—			—			29.3			—			29.3
Income before income taxes	444.5			291.7			25.3			(317.0		)	444.5
Income tax expense	155.5			101.3			9.8			(111.1		)	155.5
Net income	$	289.0		$	190.4		$	15.5		$	(205.9	)	$	289.0
Comprehensive income	$	289.0		$	190.4		$	15.5		$	(205.9	)	$	289.0

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Nine Months Ended June 30, 2017



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	3,344.5		$	6,293.0		$	37.5		$	—		$	9,675.0
Cost of sales	2,670.0			5,072.9			36.0			—			7,778.9
Gross profit	674.5			1,220.1			1.5			—			1,896.1
Selling, general and administrative expense	415.7			452.8			3.9			—			872.4
Equity in (income) of subsidiaries	(851.8		)	—			—			851.8			—
Other (income) expense	(5.9		)	(1.1		)	(0.8		)	—			(7.8		)
Homebuilding pre-tax income (loss)	1,116.5			768.4			(1.6		)	(851.8		)	1,031.5
Financial Services and Other:
Revenues	—			—			256.9			—			256.9
General and administrative expense	—			—			183.1			—			183.1
Interest and other (income) expense	—			—			(11.2		)	—			(11.2		)
Financial services and other pre-tax income	—			—			85.0			—			85.0
Income before income taxes	1,116.5			768.4			83.4			(851.8		)	1,116.5
Income tax expense	391.4			267.7			31.5			(299.2		)	391.4
Net income	$	725.1		$	500.7		$	51.9		$	(552.6	)	$	725.1
Comprehensive income	$	725.1		$	500.7		$	51.9		$	(552.6	)	$	725.1

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Three Months Ended June 30, 2016



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	1,040.8		$	2,118.6		$	—		$	(10.6	)	$	3,148.8
Cost of sales	836.9			1,693.2			0.8			(7.9		)	2,523.0
Gross profit (loss)	203.9			425.4			(0.8		)	(2.7		)	625.8
Selling, general and administrative expense	126.6			151.5			1.2			—			279.3
Equity in (income) of subsidiaries	(303.3		)	—			—			303.3			—
Other (income) expense	(0.7		)	(0.6		)	(0.6		)	—			(1.9		)
Homebuilding pre-tax income (loss)	381.3			274.5			(1.4		)	(306.0		)	348.4
Financial Services and Other:
Revenues	—			—			83.1			—			83.1
General and administrative expense	—			—			57.5			—			57.5
Interest and other (income) expense	—			—			(4.6		)	—			(4.6		)
Financial services and other pre-tax income	—			—			30.2			—			30.2
Income before income taxes	381.3			274.5			28.8			(306.0		)	378.6
Income tax expense	130.6			92.4			10.8			(105.0		)	128.8
Net income	$	250.7		$	182.1		$	18.0		$	(201.0	)	$	249.8
Comprehensive income	$	250.7		$	182.1		$	18.0		$	(201.0	)	$	249.8

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Operations

Nine Months Ended June 30, 2016



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
Homebuilding:
Revenues	$	2,700.7		$	5,526.1		$	—		$	(16.0	)	$	8,210.8
Cost of sales	2,170.5			4,429.3			(4.7		)	(10.8		)	6,584.3
Gross profit	530.2			1,096.8			4.7			(5.2		)	1,626.5
Selling, general and administrative expense	357.4			418.4			2.6			—			778.4
Equity in (income) of subsidiaries	(745.9		)	—			—			745.9			—
Other (income) expense	(6.9		)	(3.4		)	(0.9		)	—			(11.2		)
Homebuilding pre-tax income	925.6			681.8			3.0			(751.1		)	859.3
Financial Services and Other:
Revenues	—			—			205.4			—			205.4
General and administrative expense	—			—			157.1			—			157.1
Interest and other (income) expense	—			—			(12.8		)	—			(12.8		)
Financial services and other pre-tax income	—			—			61.1			—			61.1
Income before income taxes	925.6			681.8			64.1			(751.1		)	920.4
Income tax expense	319.6			234.0			23.9			(259.7		)	317.8
Net income	$	606.0		$	447.8		$	40.2		$	(491.4	)	$	602.6
Comprehensive income	$	604.6		$	447.8		$	40.2		$	(491.4	)	$	601.2

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Nine Months Ended June 30, 2017



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(397.8	)	$	239.1		$	42.9		$	(75.0	)	$	(190.8	)
INVESTING ACTIVITIES
Purchases of property and equipment	(44.6		)	(18.8		)	(40.1		)	—			(103.5		)
Increase in restricted cash	(1.1		)	(0.3		)	(8.5		)	—			(9.9		)
Net principal decrease of other mortgage loans and real estate owned	—			—			5.3			—			5.3
Purchases of debt securities collateralized by residential real estate	(8.8		)	—			—			—			(8.8		)
Intercompany advances	187.3			—			—			(187.3		)	—
Payments related to acquisition of a business	(4.1		)	—			—			—			(4.1		)
Net cash provided by (used in) investing activities	128.7			(19.1		)	(43.3		)	(187.3		)	(121.0		)
FINANCING ACTIVITIES
Proceeds from notes payable	700.0			—			0.4			—			700.4
Repayment of notes payable	(1,050.0		)	(1.4		)	—			—			(1,051.4		)
Intercompany advances	—			(282.8		)	95.5			187.3			—
Proceeds from stock associated with certain employee benefit plans	34.3			—			—			—			34.3
Excess income tax benefit from employee stock awards	10.5			—			—			—			10.5
Cash dividends paid	(112.2		)	—			(75.0		)	75.0			(112.2		)
Repurchases of common stock	(60.6		)	—			—			—			(60.6		)
Net cash (used in) provided by financing activities	(478.0		)	(284.2		)	20.9			262.3			(479.0		)
(Decrease) increase in cash and cash equivalents	(747.1		)	(64.2		)	20.5			—			(790.8		)
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	$	329.3		$	89.8		$	93.3		$	—		$	512.4

NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued)

Consolidating Statement of Cash Flows

Nine Months Ended June 30, 2016



	D.R. Horton, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
	(In millions)
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(9.0	)	$	160.3		$	(17.3	)	$	(45.4	)	$	88.6
INVESTING ACTIVITIES
Purchases of property and equipment	(33.1		)	(15.6		)	(21.9		)	5.4			(65.2		)
Increase in restricted cash	(1.3		)	(0.8		)	—			—			(2.1		)
Net principal decrease of other mortgage loans and real estate owned	—			—			4.3			—			4.3
Proceeds from sale of debt securities collateralized by residential real estate	35.8			—			—			—			35.8
Intercompany advances	70.6			—			—			(70.6		)	—
Net cash provided by (used in) investing activities	72.0			(16.4		)	(17.6		)	(65.2		)	(27.2		)
FINANCING ACTIVITIES
Proceeds from notes payable	—			—			26.3			—			26.3
Repayment of notes payable	(542.9		)	(1.0		)	—			—			(543.9		)
Intercompany advances	—			(138.4		)	67.8			70.6			—
Proceeds from stock associated with certain employee benefit plans	61.8			—			—			—			61.8
Excess income tax benefit from employee stock awards	6.3			—			—			—			6.3
Cash dividends paid	(88.9		)	—			(40.0		)	40.0			(88.9		)
Net cash (used in) provided by financing activities	(563.7		)	(139.4		)	54.1			110.6			(538.4		)
(Decrease) increase in cash and cash equivalents	(500.7		)	4.5			19.2			—			(477.0		)
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	$	717.0		$	99.1		$	90.7		$	—		$	906.8