Supplemental Guarantor Information (Tables)

6 Months Ended

Mar. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Unaudited Consolidating Balance Sheet Information

Beazer Homes USA, Inc.

Unaudited Consolidating Balance Sheet Information

March 31, 2015

(In thousands)

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	136,642	$	12,037	$	981	$	(3,399	)	$	146,261
Restricted cash	41,665		1,504		—		—			43,169
Accounts receivable (net of allowance of $1,305)	—		35,877		3		—			35,880
Income tax receivable	46		—		—		—			46
Owned inventory	—		1,757,036		—		—			1,757,036
Investments in marketable securities and unconsolidated entities	773		9,599		—		—			10,372
Deferred tax assets, net	46		—		—		—			46
Property, plant and equipment, net	—		21,153		—		—			21,153
Investments in subsidiaries	251,040		—		—		(251,040		)	—
Intercompany	1,359,657		—		2,394		(1,362,051		)	—
Other assets	14,835		3,365		90		—			18,290
Total assets	$	1,804,704	$	1,840,571	$	3,468	$	(1,616,490	)	$	2,032,253
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	100,844	$	—	$	—		$	100,844
Other liabilities	32,109		104,694		632		—			137,435
Intercompany	2,394		1,363,056		—		(1,365,450		)	—
Total debt (net of discounts of $4,019)	1,511,399		23,773		—		—			1,535,172
Total liabilities	1,545,902		1,592,367		632		(1,365,450		)	1,773,451
Stockholders’ equity	258,802		248,204		2,836		(251,040		)	258,802
Total liabilities and stockholders’ equity	$	1,804,704	$	1,840,571	$	3,468	$	(1,616,490	)	$	2,032,253

Beazer Homes USA, Inc.

Unaudited Consolidating Balance Sheet Information

September 30, 2014

(In thousands)

	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	301,980	$	22,034	$	1,614	$	(1,474	)	$	324,154
Restricted cash	61,945		996		—		—			62,941
Accounts receivable (net of allowance of $1,245)	—		34,428		1		—			34,429
Income tax receivable	46		—		—		—			46
Owned inventory	—		1,557,496		—		—			1,557,496
Consolidated inventory not owned	—		3,857		—		—			3,857
Investments in marketable securities and unconsolidated entities	773		37,568		—		—			38,341
Deferred tax assets, net	2,823		—		—		—			2,823
Property, plant and equipment, net	—		18,673		—		—			18,673
Investments in subsidiaries	253,540		—		—		(253,540		)	—
Intercompany	1,195,349		—		2,405		(1,197,754		)	—
Other assets	17,226		6,144		90		—			23,460
Total assets	$	1,833,682	$	1,681,196	$	4,110	$	(1,452,768	)	$	2,066,220
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	106,237	$	—	$	—		$	106,237
Other liabilities	38,871		102,833		812		—			142,516
Intercompany	2,405		1,196,823		—		(1,199,228		)	—
Obligations related to land not owned under option agreements	—		2,916		—		—			2,916
Total debt (net of discounts of $4,399)	1,513,288		22,145		—		—			1,535,433
Total liabilities	1,554,564		1,430,954		812		(1,199,228		)	1,787,102
Stockholders’ equity	279,118		250,242		3,298		(253,540		)	279,118
Total liabilities and stockholders’ equity	$	1,833,682	$	1,681,196	$	4,110	$	(1,452,768	)	$	2,066,220

Unaudited Consolidating Income Statement

Beazer Homes USA, Inc.

Unaudited Consolidating Statements of Income and Unaudited Comprehensive Income (Loss)

(In thousands)

	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2015
Total revenue	$	—		$	299,359		$	33		$	(33	)	$	299,359
Home construction and land sales expenses	9,782			235,697			—			(33		)	245,446
Gross (loss) profit	(9,782		)	63,662			33			—			53,913
Commissions	—			11,969			—			—			11,969
General and administrative expenses	—			32,694			33			—			32,727
Depreciation and amortization	—			2,781			—			—			2,781
Operating (loss) income	(9,782		)	16,218			—			—			6,436
Equity in income of unconsolidated entities	—			82			—			—			82
Other (expense) income, net	(7,695		)	(777		)	(1		)	—			(8,473		)
(Loss) income before income taxes	(17,477		)	15,523			(1		)	—			(1,955		)
(Benefit from) provision for income taxes	(6,456		)	6,561			—			—			105
Equity in income of subsidiaries	8,961			—			—			(8,961		)	—
(Loss) income from continuing operations	(2,060		)	8,962			(1		)	(8,961		)	(2,060		)
Income (loss) from discontinued operations	—			68			(4		)	—			64
Equity in income of subsidiaries from discontinued operations	64			—			—			(64		)	—
Net (loss) income	$	(1,996	)	$	9,030		$	(5	)	$	(9,025	)	$	(1,996	)
Change in unrealized loss related to available-for-sale securities	1,070			—			—			—			1,070
Comprehensive (loss) income	$	(926	)	$	9,030		$	(5	)	$	(9,025	)	$	(926	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended March 31, 2014
Total revenue	$	—		$	270,021		$	100		$	(100	)	$	270,021
Home construction and land sales expenses	7,379			209,690			—			(100		)	216,969
Inventory impairments and option contract abandonments	—			880			—			—			880
Gross (loss) profit	(7,379		)	59,451			100			—			52,172
Commissions	—			11,096			—			—			11,096
General and administrative expenses	—			32,592			36			—			32,628
Depreciation and amortization	—			2,831			—			—			2,831
Operating (loss) income	(7,379		)	12,932			64			—			5,617
Equity in loss of unconsolidated entities	—			(17		)	—			—			(17		)
Loss on extinguishment of debt	(153		)	—			—			—			(153		)
Other (expense) income, net	(14,659		)	933			(1		)	—			(13,727		)
(Loss) income before income taxes	(22,191		)	13,848			63			—			(8,280		)
(Benefit from) provision for income taxes	(210		)	131			23			—			(56		)
Equity in income of subsidiaries	13,757			—			—			(13,757		)	—
(Loss) income from continuing operations	(8,224		)	13,717			40			(13,757		)	(8,224		)
Income (loss) from discontinued operations	—			257			(4		)	—			253
Equity in income of subsidiaries from discontinued operations	253			—			—			(253		)	—
Net (loss) income and comprehensive (loss) income	$	(7,971	)	$	13,974		$	36		$	(14,010	)	$	(7,971	)

Beazer Homes USA, Inc.

Unaudited Consolidating Statements of Income and Unaudited Comprehensive Income (Loss)

(In thousands)

	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2015
Total revenue	$	—		$	565,123		$	131		$	(131	)	$	565,123
Home construction and land sales expenses	17,976			458,147			—			(131		)	475,992
Gross (loss) profit	(17,976		)	106,976			131			—			89,131
Commissions	—			22,895			—			—			22,895
General and administrative expenses	—			64,108			60			—			64,168
Depreciation and amortization	—			5,122			—			—			5,122
Operating (loss) income	(17,976		)	14,851			71			—			(3,054		)
Equity in income of unconsolidated entities	—			224			—			—			224
Other (expense) income, net	(17,442		)	(463		)	(2		)	—			(17,907		)
(Loss) income before income taxes	(35,418		)	14,612			69			—			(20,737		)
(Benefit from) provision for income taxes	(13,083		)	12,467			25			—			(591		)
Equity in income of subsidiaries	2,189			—			—			(2,189		)	—
(Loss) income from continuing operations	(20,146		)	2,145			44			(2,189		)	(20,146		)
Loss from discontinued operations	—			(4,183		)	(7		)	—			(4,190		)
Equity in loss of subsidiaries from discontinued operations	(4,190		)	—			—			4,190			—
Net (loss) income	$	(24,336	)	$	(2,038	)	$	37		$	2,001		$	(24,336	)
Change in unrealized loss related to available-for-sale securities	1,276			—			—			—			1,276
Comprehensive (loss) income	$	(23,060	)	$	(2,038	)	$	37		$	2,001		$	(23,060	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2014
Total revenue	$	—		$	563,191		$	180		$	(180	)	$	563,191
Home construction and land sales expenses	14,514			441,104			—			(180		)	455,438
Inventory impairments and option contract abandonments	—			911			—			—			911
Gross (loss) profit	(14,514		)	121,176			180			—			106,842
Commissions	—			22,917			—			—			22,917
General and administrative expenses	—			60,976			62			—			61,038
Depreciation and amortization	—			5,738			—			—			5,738
Operating (loss) income	(14,514		)	31,545			118			—			17,149
Equity in income of unconsolidated entities	—			302			—			—			302
Loss on extinguishment of debt	(153		)	—			—			—			(153		)
Other (expense) income, net	(30,692		)	1,212			(4		)	—			(29,484		)
(Loss) income before income taxes	(45,359		)	33,059			114			—			(12,186		)
(Benefit from) provision for income taxes	(199		)	145			40			—			(14		)
Equity in income of subsidiaries	32,988			—			—			(32,988		)	—
(Loss) income from continuing operations	(12,172		)	32,914			74			(32,988		)	(12,172		)
Loss from discontinued operations	—			(930		)	(7		)	—			(937		)
Equity in loss of subsidiaries and discontinued operations	(937		)	—			—			937			—
Net (loss) income and comprehensive (loss) income	$	(13,109	)	$	31,984		$	67		$	(32,051	)	$	(13,109	)

Unaudited Consolidating Statements of Cash Flow

Beazer Homes USA, Inc.

Unaudited Condensed Consolidating Statements of Cash Flow

(In thousands)

	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2015
Net cash used in operating activities	$	(31,274	)	$	(171,497	)	$	(145	)	$	—		$	(202,916	)
Cash flows from investing activities:
Capital expenditures	—			(7,478		)	—			—			(7,478		)
Investments in unconsolidated entities	—			(1,670		)	—			—			(1,670		)
Proceeds from sale of marketable securities and unconsolidated entities	—			24,211			—			—			24,211
Increases in restricted cash	(1,319		)	(1,168		)	—			—			(2,487		)
Decreases in restricted cash	21,601			658			—			—			22,259
Advances to/from subsidiaries	(145,846		)	—			—			145,846			—
Net cash (used in) provided by investing activities	(125,564		)	14,553			—			145,846			34,835
Cash flows from financing activities:
Repayment of debt	(8,702		)	(812		)	—			—			(9,514		)
Debt issuance costs	(126		)	—			—			—			(126		)
Dividends paid	500			—			(500		)	—			—
Advances to/from subsidiaries	—			147,759			12			(147,771		)	—
Other financing activities	(172		)	—			—			—			(172		)
Net cash (used in) provided by financing activities	(8,500		)	146,947			(488		)	(147,771		)	(9,812		)
Decrease in cash and cash equivalents	(165,338		)	(9,997		)	(633		)	(1,925		)	(177,893		)
Cash and cash equivalents at beginning of period	301,980			22,034			1,614			(1,474		)	324,154
Cash and cash equivalents at end of period	$	136,642		$	12,037		$	981		$	(3,399	)	$	146,261
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Six Months Ended March 31, 2014
Net cash used in operating activities	$	(45,803	)	$	(142,360	)	$	111		$	—		$	(188,052	)
Cash flows from investing activities:
Capital expenditures	—			(6,641		)	—			—			(6,641		)
Investments in unconsolidated entities	—			(3,193		)	—			—			(3,193		)
Increases in restricted cash	(1,898		)	(690		)	—			—			(2,588		)
Decreases in restricted cash	39			762			—			—			801
Net cash used in investing activities	(1,859		)	(9,762		)	—			—			(11,621		)
Cash flows from financing activities:
Repayment of debt	(3,857		)	(890		)	—			—			(4,747		)
Debt issuance costs	(26		)	—			—			—			(26		)
Advances to/from subsidiaries	(145,227		)	148,387			(59		)	(3,101		)	—
Other financing activities	(393		)	—			—			—			(393		)
Net cash (used in) provided by financing activities	(149,503		)	147,497			(59		)	(3,101		)	(5,166		)
Decrease in cash and cash equivalents	(197,165		)	(4,625		)	52			(3,101		)	(204,839		)
Cash and cash equivalents at beginning of period	499,341			6,324			1,637			(2,843		)	504,459
Cash and cash equivalents at end of period	$	302,176		$	1,699		$	1,689		$	(5,944	)	$	299,620