D.R. Horton (DHI) 10-Q 28 Jul 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2015	Jul. 22, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	HORTON D R INC /DE/
Entity Central Index Key	882,184
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--09-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		366,778,229

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions		Jun. 30, 2015	Sep. 30, 2014
ASSETS
Cash and cash equivalents		$ 805.6	$ 661.8
Inventories:
Other assets		526	502.7
Total assets		10,863.5	10,202.5
LIABILITIES
Notes payable		3,821.1	3,682.8
Total liabilities		$ 5,232.5	$ 5,082.8
Commitments and contingencies (Note K)
EQUITY
Preferred stock, $.10 par value, 30,000,000 shares authorized, no shares issued		$ 0	$ 0
Common stock, $.01 par value, 1,000,000,000 shares authorized, 373,936,373 shares issued and 366,736,302 shares outstanding at June 30, 2015 and 371,786,765 shares issued and 364,586,694 shares outstanding at September 30, 2014		3.7	3.7
Additional paid-in capital		2,684.3	2,613.7
Retained earnings		3,073.7	2,630.5
Treasury stock, 7,200,071 shares at June 30, 2015 and September 30, 2014, at cost		(134.3)	(134.3)
Accumulated other comprehensive income		2.2	2.2
Total stockholders' equity		5,629.6	5,115.8
Noncontrolling interests		1.4	3.9
Total equity		5,631	5,119.7
Total liabilities and equity		10,863.5	10,202.5
Homebuilding
ASSETS
Cash and cash equivalents		766.7	632.5
Restricted cash		11.7	10
Inventories:
Construction in progress and finished homes		3,815.3	3,541.3
Residential land and lots - developed and under development		4,010.8	3,800
Land held for development		235.4	332.8
Land held for sale		49.7	26.4
Total inventories	[1]	8,111.2	7,700.5
Deferred income taxes, net of valuation allowance of $30.1 million and $31.1 million at June 30, 2015 and September 30, 2014, respectively		544.3	565
Property and equipment, net		199.3	190.8
Other assets		445.4	441.1
Goodwill		97	94.8
Total assets		10,175.6	9,634.7
LIABILITIES
Accounts Payable and Other Accrued Liabilities		462.1	480.3
Accrued expenses and other liabilities		909.2	875
Notes payable		3,373.1	3,323.6
Total liabilities		4,744.4	4,678.9
Financial Services
ASSETS
Cash and cash equivalents		38.9	29.3
Inventories:
Mortgage loans held for sale		568.4	476.9
Other assets		80.6	61.6
Total assets		687.9	567.8
LIABILITIES
Accounts payable and other liabilities		40.1	44.7
Mortgage repurchase facility		448	359.2
Total liabilities		$ 488.1	$ 403.9
[1]	Homebuilding inventories are the only assets included in the measure of homebuilding segment assets used by the Company’s chief operating decision makers.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Statement of Financial Position [Abstract]
Valuation allowance for deferred income taxes	$ 30.1	$ 31.1
Preferred stock, par value	$ 0.1	$ 0.1
Preferred stock, shares authorized	30,000,000	30,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	373,936,373	371,786,765
Common stock, shares outstanding	366,736,302	364,586,694
Treasury stock, shares	7,200,071	7,200,071

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Gross profit:
Income (loss) before income taxes	[1]	$ 333.8	$ 171.8	$ 784.6	$ 563.4
Income tax expense (benefit)		112.4	58.7	272.8	196.1
Net income		221.4	113.1	511.8	367.3
Other comprehensive income (loss), net of income tax:
Comprehensive income		$ 221.4	$ 113.1	$ 511.8	$ 367.6
Basic net income per common share (in dollars per share)		$ 0.60	$ 0.32	$ 1.40	$ 1.10
Net income per common share assuming dilution (in dollars per share)		0.60	0.32	1.39	1.05
Cash dividends declared per common share (in dollars per share)		$ 0.0625	$ 0.0375	$ 0.1875	$ 0.0750
Homebuilding [Member]
Revenues:
Home sales		$ 2,857.9	$ 2,090.3	$ 7,417.4	$ 5,401.1
Land/lot sales		18.5	12.6	50.6	34
Total revenues		2,876.4	2,102.9	7,468	5,435.1
Cost of sales:
Home sales		2,288.9	1,658	5,948.8	4,227.5
Land/lot sales		16.1	10.7	44.1	27.5
Inventory impairments and land option cost write-offs		15.4	56.8	34	63.9
Total cost of sales		2,320.4	1,725.5	6,026.9	4,318.9
Gross profit:
Home sales		569	432.3	1,468.6	1,173.6
Land/lot sales		2.4	1.9	6.5	6.5
Inventory impairments and land option cost write-offs		(15.4)	(56.8)	(34)	(63.9)
Gross profit		556	377.4	1,441.1	1,116.2
Selling, general and administrative expense		257.8	221.9	738.2	593.2
Other (income)		(3.9)	(3.1)	(13.9)	(9.2)
Income (loss) before income taxes	[1]	302.1	158.6	716.8	532.2
Financial Services [Member]
Gross profit:
Financial Services Revenue		74.4	44.1	183.6	117.4
General and administrative expense		46	33.8	124.6	93.7
Interest and other (income)		(3.3)	(2.9)	(8.8)	(7.5)
Income (loss) before income taxes	[1]	31.7	13.2	67.8	31.2
Debt Securities [Member]
Other comprehensive income (loss), net of income tax:
Unrealized gain related to debt securities collateralized by residential real estate		$ 0	$ 0	$ 0	$ 0.3
[1]	Expenses maintained at the corporate level consist primarily of interest and property taxes, which are capitalized and amortized to cost of sales or expensed directly, and the expenses related to operating the Company’s corporate office. The amortization of capitalized interest and property taxes is allocated to each segment based on the segment’s cost of sales, while those expenses associated with the corporate office are allocated to each segment based on the segment’s inventory balances.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES
Net income	$ 511.8	$ 367.3
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	39.7	26.6
Amortization of discounts and fees	4.1	25.4
Stock based compensation expense	31.7	17.6
Income tax benefit from employee stock awards	(7.3)	(1.6)
Deferred income taxes	20.7	3.8
Inventory impairments and land option cost write-offs	34	63.9
Changes in operating assets and liabilities:
Increase in construction in progress and finished homes	(252.1)	(759.4)
(Increase) decrease in residential land and lots - developed, under development, and held for development	(120.7)	(327.8)
(Increase) decrease in other assets	(3.2)	36.2
Increase in mortgage loans held for sale	(91.5)	(24.1)
Increase (decrease) in accounts payable, accrued expenses and other liabilities	21.4	(1.6)
Net cash provided by (used in) operating activities	188.6	(573.7)
INVESTING ACTIVITIES
Purchases of property and equipment	(43.3)	(49.9)
(Increase) decrease in restricted cash	(1.7)	57.7
Net principal increase of mortgage loans held in portfolio and real estate owned	(6.3)	(2.8)
Purchases of debt securities collateralized by residential real estate	(14.8)	0
Acquisition of a business	(68.7)	(222.7)
Net cash provided by (used in) investing activities	(134.8)	(217.7)
FINANCING ACTIVITIES
Proceeds from notes payable	1,560.8	686.3
Repayment of notes payable	(1,433.5)	(273.9)
Proceeds from stock associated with certain employee benefit plans	24	43.1
Income tax benefit from employee stock awards	7.3	1.6
Cash dividends paid	(68.6)	(25.8)
Net cash provided by (used in) financing activities	90	431.3
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	143.8	(360.1)
Cash and cash equivalents at beginning of period	661.8	977.4
Cash and cash equivalents at end of period	805.6	617.3
Supplemental disclosures of non-cash activities:
Notes payable issued for inventory	8.1	0
Stock issued under Restricted Stock Unit and Performance Unit Plans	8.3	5.5
Note receivable related to sale of land	0	5
Conversion of 2% convertible senior notes into equity	0	498.6
Accrual for holdback payment related to acquisition	$ 2	$ 21.4

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited, consolidated financial statements include the accounts of D.R. Horton, Inc. and all of its 100% owned, majority-owned and controlled subsidiaries (which are collectively referred to as the Company, unless the context otherwise requires). All significant intercompany accounts, transactions and balances have been eliminated in consolidation. The financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments considered necessary for a fair statement have been included. These financial statements do not include all of the information and notes required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s annual report on Form 10-K for the fiscal year ended September 30, 2014 . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. Reclassifications Certain reclassifications have been made in the prior year financial statements to conform to classifications used in the current year. Cash balances of the Company's captive insurance subsidiary, which are expected to be used to fund the subsidiary's operations and pay future anticipated legal claims, have been correctly presented within homebuilding cash and cash equivalents rather than homebuilding other assets. These balances were $42.3 million and $40.9 million at June 30, 2014 and September 30, 2013 , respectively. The statement of cash flows for the nine months ended June 30, 2014 , including the statement of cash flows of the Non-Guarantor Subsidiaries as reflected in Note N , have been revised to reflect this correction. As other prior period financial information is presented in future filings, the Company will similarly revise its financial statements in such filings. Cash balances of the Company's captive insurance subsidiary, which were $40.2 million and $43.3 million at June 30, 2015 and September 30, 2014 , respectively, are included in homebuilding cash and cash equivalents in the consolidated balance sheets. Seasonality Historically, the homebuilding industry has experienced seasonal fluctuations; therefore, the operating results for the three and nine months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending September 30, 2015 or subsequent periods. Variable Interests The Company enters into land and lot option purchase contracts to acquire land or lots for the construction of homes. Under these contracts, the Company will fund a stated deposit in consideration for the right, but not the obligation, to purchase land or lots at a future point in time with predetermined terms. Under the terms of many of the option purchase contracts, the option deposits are not refundable in the event the Company elects to terminate the contract. Option purchase contracts can result in the creation of a variable interest in the entity holding the land parcel under option. There were no variable interest entities reported in the consolidated balance sheets at June 30, 2015 and September 30, 2014 because the Company determined it did not control the activities that most significantly impact the variable interest entity’s economic performance and it did not have an obligation to absorb losses of or the right to receive benefits from the entity. The maximum exposure to losses related to the Company’s variable interest entities is limited to the amounts of the Company’s related option deposits. At June 30, 2015 and September 30, 2014 , the option deposits related to these contracts totaled $64.2 million and $55.7 million , respectively, and are included in homebuilding other assets in the consolidated balance sheets. Business Acquisition In April 2015 , the Company acquired the homebuilding operations of Pacific Ridge Homes for $70.9 million in cash, of which $2.0 million was paid subsequent to June 30, 2015 . Pacific Ridge Homes operates in Seattle, Washington. The assets acquired included approximately 90 homes in inventory, 350 lots and control of approximately 400 additional lots through option contracts. The Company also acquired a sales order backlog of 42 homes valued at $18.7 million . Recent Accounting Pronouncements In January 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-04, “Receivables - Troubled Debt Restructurings by Creditors,” which was revised in August 2014. ASU 2014-04 applies to all creditors who obtain physical possession of residential real estate property collateralizing a consumer mortgage loan in satisfaction of a receivable. The guidance clarifies when an in substance repossession or foreclosure of the property has occurred and helps determine when a creditor should derecognize a loan receivable and recognize real estate property. ASU 2014-14 applies to creditors that hold government-guaranteed mortgage loans and requires that these loans, including those guaranteed by the Federal Housing Administration (FHA) and Veterans Affairs (VA), be derecognized and that a separate other receivable be recognized upon foreclosure if certain conditions are met. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance expected to be recovered from the guarantor. The guidance in this ASU is effective for the Company beginning October 1, 2015 and is not expected to have a material impact on its consolidated financial position, results of operations or cash flows. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which is a comprehensive new revenue recognition model that will replace most existing revenue recognition guidance. The core principle of this guidance is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The guidance is effective for the Company beginning October 1, 2018 and allows for full retrospective or modified retrospective methods of adoption. The Company is currently evaluating the impact of this guidance on its consolidated financial position, results of operations and cash flows. In June 2014, the FASB issued ASU 2014-12, “Compensation - Stock Compensation,” which states that a performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition. The guidance is effective for the Company beginning October 1, 2016 and is not expected to have a material impact on its consolidated financial position, results of operations or cash flows. In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements - Going Concern,” which provides guidance about management's responsibility to evaluate whether there is substantial doubt about the entity's ability to continue as a going concern and to provide related footnote disclosures. This guidance is intended to reduce the diversity in the timing and content of footnote disclosures. The guidance is effective for the Company beginning with its fiscal year ending September 30, 2017 and is not expected to have any impact on its consolidated financial position, results of operations or cash flows. In February 2015, the FASB issued ASU 2015-02, “Consolidation,” which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The guidance is effective for the Company beginning October 1, 2016 and is not expected to have a material impact on its consolidated financial position, results of operations or cash flows. In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest,” which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. This new guidance is a change from the current treatment of recording debt issuance costs as an asset representing a deferred charge, and is consistent with the accounting treatment for debt discounts. The guidance, which requires retrospective application, is effective for the Company beginning October 1, 2016, but early adoption is allowed. The Company is currently evaluating this guidance, and it is not expected to have a material impact on its consolidated financial position, results of operations or cash flows. In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory,” which simplifies the subsequent measurement of inventory, excluding inventory measured using the last-in, first-out or retail inventory methods. The guidance specifies that inventory currently measured at the lower of cost or market, where market could be determined with different methods, should now be measured at the lower of cost or net realizable value. The guidance will be applied prospectively after the effective date for the Company of October 1, 2017 and is not expected to have a material impact on its consolidated financial position, results of operations or cash flows.

Segment Information

Segment Information	9 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company is a national homebuilder that is primarily engaged in the acquisition and development of land and the construction and sale of residential homes, with operations in 79 markets in 27 states across the United States. The Company designs, builds and sells single-family detached homes on lots it develops and on fully developed lots purchased ready for home construction. To a lesser extent, the Company also builds and sells attached homes, such as town homes, duplexes, triplexes and condominiums. Periodically, the Company sells land and lots to other developers and homebuilders where it has excess land and lot positions or for other strategic reasons. The homebuilding segments generate most of their revenues from the sale of completed homes, and to a lesser extent from the sale of land and lots. The Company’s financial services segment provides mortgage financing and title agency services primarily to the Company’s homebuilding customers. The Company sells substantially all of the mortgages it originates and the related servicing rights to third-party purchasers. The financial services segment generates its revenues from originating and selling mortgages and collecting fees for title insurance agency and closing services. The Company’s 39 homebuilding operating divisions and its financial services operation are its operating segments. The homebuilding operating segments are aggregated into six reporting segments and the financial services operating segment is its own reporting segment. The Company’s reportable homebuilding segments are: East, Midwest, Southeast, South Central, Southwest and West. These reporting segments have homebuilding operations located in the following states: East: Delaware, Georgia (Savannah only), Maryland, New Jersey, North Carolina, Pennsylvania, South Carolina and Virginia Midwest: Colorado, Illinois, Indiana and Minnesota Southeast: Alabama, Florida, Georgia, Mississippi and Tennessee South Central: Louisiana, Oklahoma and Texas Southwest: Arizona and New Mexico West: California, Hawaii, Nevada, Oregon, Utah and Washington The accounting policies of the reporting segments are described throughout Note A included in the Company’s annual report on Form 10-K for the fiscal year ended September 30, 2014 . Financial information relating to the Company's reporting segments is as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In millions) Revenues Homebuilding revenues: East $ 367.4 $ 251.3 $ 946.9 $ 644.6 Midwest 205.4 133.1 480.3 338.8 Southeast 775.5 584.4 2,041.0 1,503.0 South Central 715.1 533.3 1,923.1 1,384.9 Southwest 96.7 74.1 243.0 207.8 West 716.3 526.7 1,833.7 1,356.0 Homebuilding revenues 2,876.4 2,102.9 7,468.0 5,435.1 Financial services revenues 74.4 44.1 183.6 117.4 Total revenues $ 2,950.8 $ 2,147.0 $ 7,651.6 $ 5,552.5 Inventory Impairments East $ 2.1 $ 2.0 $ 2.1 $ 2.0 Midwest — 48.8 — 48.8 Southeast 1.4 0.7 8.7 2.8 South Central 0.8 — 1.4 — Southwest — — — — West 7.4 3.2 11.4 3.4 Total inventory impairments $ 11.7 $ 54.7 $ 23.6 $ 57.0 Income Before Income Taxes (1) Homebuilding pre-tax income (loss): East $ 30.3 $ 13.3 $ 69.7 $ 39.0 Midwest 21.5 (37.2 ) 36.5 (18.1 ) Southeast 80.7 52.3 197.4 156.0 South Central 78.9 54.0 205.1 143.0 Southwest 5.2 8.2 8.3 19.7 West 85.5 68.0 199.8 192.6 Homebuilding pre-tax income 302.1 158.6 716.8 532.2 Financial services pre-tax income 31.7 13.2 67.8 31.2 Income before income taxes $ 333.8 $ 171.8 $ 784.6 $ 563.4 ________________ (1) Expenses maintained at the corporate level consist primarily of interest and property taxes, which are capitalized and amortized to cost of sales or expensed directly, and the expenses related to operating the Company’s corporate office. The amortization of capitalized interest and property taxes is allocated to each segment based on the segment’s cost of sales, while those expenses associated with the corporate office are allocated to each segment based on the segment’s inventory balances. June 30, September 30, (In millions) Homebuilding Inventories (1) East $ 855.1 $ 842.7 Midwest 485.1 477.6 Southeast 1,966.5 1,943.0 South Central 1,962.2 1,742.5 Southwest 280.0 292.9 West 2,307.4 2,169.4 Corporate and unallocated (2) 254.9 232.4 Total homebuilding inventory $ 8,111.2 $ 7,700.5 ________________ (1) Homebuilding inventories are the only assets included in the measure of homebuilding segment assets used by the Company’s chief operating decision makers. (2) Corporate and unallocated consists primarily of capitalized interest and property taxes.

Inventory Impairments and Land

Inventory Impairments and Land Option Cost Write-Offs	9 Months Ended
	Jun. 30, 2015
Inventory Impairments and Land Option Cost Write-Offs [Abstract]
INVENTORY IMPAIRMENTS AND LAND OPTION COST WRITE-OFFS	INVENTORY At June 30, 2015 , the Company reviewed the performance and outlook for all of its land inventories and communities for indicators of potential impairment and performed detailed impairment evaluations and analyses when necessary. The Company performed detailed impairment evaluations of communities and land inventories with a combined carrying value of $390.2 million and recorded impairment charges of $11.7 million during the third quarter to reduce the carrying value of impaired communities to their estimated fair value. Of the total impairments, $7.4 million related to a strategic decision to sell a parcel of land in the West region. During the nine months ended June 30, 2015 , impairment charges totaled $23.6 million . There were $54.7 million and $57.0 million of impairment charges recorded in the three and nine months ended June 30, 2014 , respectively, which primarily related to Chicago communities in the Midwest region. During the three and nine months ended June 30, 2015 , the Company wrote off $3.7 million and $10.4 million , respectively, of earnest money deposits and pre-acquisition costs related to land option contracts that the Company expects to terminate. During the three and nine months ended June 30, 2014 , the Company wrote off $2.1 million and $6.9 million , respectively, of these deposits and costs.

Notes Payable

Notes Payable	9 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE The Company’s notes payable at their principal amounts, net of any unamortized discounts, consist of the following: June 30, September 30, (In millions) Homebuilding: Unsecured: Revolving credit facility, maturing 2019 $ — $ 300.0 5.25% senior notes due 2015, net — 157.7 5.625% senior notes due 2016, net 170.0 169.9 6.5% senior notes due 2016, net 372.7 372.6 4.75% senior notes due 2017 350.0 350.0 3.625% senior notes due 2018 400.0 400.0 3.75% senior notes due 2019 500.0 500.0 4.0% senior notes due 2020 500.0 — 4.375% senior notes due 2022 350.0 350.0 4.75% senior notes due 2023 300.0 300.0 5.75% senior notes due 2023 400.0 400.0 Other secured notes 30.4 23.4 $ 3,373.1 $ 3,323.6 Financial Services: Mortgage repurchase facility, maturing 2016 $ 448.0 $ 359.2 Homebuilding: The Company has a $975 million senior unsecured revolving credit facility with an uncommitted accordion feature that could increase the size of the facility to $1.25 billion , subject to certain conditions and availability of additional bank commitments. The facility also provides for the issuance of letters of credit with a sublimit equal to approximately 50% of the revolving credit commitment. Letters of credit issued under the facility reduce the available borrowing capacity. The interest rate on borrowings under the revolving credit facility may be based on either the Prime Rate or London Interbank Offered Rate (LIBOR) plus an applicable margin, as defined in the credit agreement governing the facility. The maturity date of the facility is September 7, 2019 . At June 30, 2015 , there were no borrowings outstanding and $94.3 million of letters of credit issued under the revolving credit facility. The Company's revolving credit facility imposes restrictions on its operations and activities, including requiring the maintenance of a minimum level of tangible net worth, a maximum allowable ratio of debt to tangible net worth and a borrowing base restriction if the Company's ratio of debt to tangible net worth exceeds a certain level. These covenants are measured as defined in the credit agreement governing the facility and are reported to the lenders quarterly. A failure to comply with these financial covenants could allow the lending banks to terminate the availability of funds under the revolving credit facility or cause any outstanding borrowings to become due and payable prior to maturity. In addition, the credit agreement governing the facility and the indentures governing the senior notes impose restrictions on the creation of secured debt and liens. At June 30, 2015 , the Company was in compliance with all of the covenants, limitations and restrictions of its revolving credit facility and public debt obligations. The Company has an automatically effective universal shelf registration statement, filed with the Securities and Exchange Commission (SEC) in September 2012, registering debt and equity securities that the Company may issue from time to time in amounts to be determined. The Company anticipates filing a new universal shelf registration statement that will register debt and equity securities prior to the expiration of its current universal shelf registration statement in September 2015. In February 2015, the Company issued $500 million principal amount of 4.0% senior notes due February 15, 2020 , with interest payable semi-annually. The notes represent unsecured obligations of the Company. The annual effective interest rate of the senior notes after giving effect to the amortization of financing costs is 4.2% . On February 15, 2015 , the Company repaid the remaining $157.7 million principal amount of its 5.25% senior notes which were due on that date. Effective August 1, 2014 , the Board of Directors authorized the repurchase of up to $500 million of the Company's debt securities effective through July 31, 2015 . All of the $500 million authorization was remaining at June 30, 2015 . On July 23, 2015 , the Board of Directors authorized the repurchase of up to $500 million of the Company's debt securities, which replaced the previous authorization. The new authorization is effective through July 31, 2016 . Financial Services: The Company’s mortgage subsidiary, DHI Mortgage, has a mortgage repurchase facility that is accounted for as a secured financing. The mortgage repurchase facility provides financing and liquidity to DHI Mortgage by facilitating purchase transactions in which DHI Mortgage transfers eligible loans to the counterparties against the transfer of funds by the counterparties, thereby becoming purchased loans. DHI Mortgage then has the right and obligation to repurchase the purchased loans upon their sale to third-party purchasers in the secondary market or within specified time frames from 45 to 120 days in accordance with the terms of the mortgage repurchase facility. I n February 2015, the mortgage repurchase facility was amended and its maturity date was extended to February 26, 2016 . Additionally, new commitments were obtained from banks which increased the total capacity of the facility to $400 million . The amendment allows for the capacity of the facility to be increased further, without requiring additional commitments, from $400 million to $450 million during the last five days of any fiscal quarter and the first twenty-five days of the following fiscal quarter. Additionally, the capacity of the facility can be increased to $550 million subject to the availability of additional commitments. As of June 30, 2015 , $518.4 million of mortgage loans held for sale with a collateral value of $501.2 million were pledged under the mortgage repurchase facility. As a result of advance paydowns totaling $53.2 million , DHI Mortgage had an obligation of $448.0 million outstanding under the mortgage repurchase facility at June 30, 2015 at a 2.4% annual interest rate. The mortgage repurchase facility is not guaranteed by D.R. Horton, Inc. or any of the subsidiaries that guarantee the Company’s homebuilding debt. The facility contains financial covenants as to the mortgage subsidiary’s minimum required tangible net worth, its maximum allowable ratio of debt to tangible net worth and its minimum required liquidity. These covenants are measured and reported to the lenders monthly. At June 30, 2015 , DHI Mortgage was in compliance with all of the conditions and covenants of the mortgage repurchase facility.

Capitalized Interest

Capitalized Interest	9 Months Ended
	Jun. 30, 2015
Interest Costs Incurred [Abstract]
Capitalized Interest [Text Block]	CAPITALIZED INTEREST The Company capitalizes interest costs incurred to inventory during active development and construction (active inventory). Capitalized interest is charged to cost of sales as the related inventory is delivered to the buyer. During periods in which the Company’s active inventory is lower than its debt level, a portion of the interest incurred is immediately reflected as interest expense. During fiscal 2014 and 2015, the Company's active inventory has exceeded its debt level, and all interest incurred has been capitalized to inventory. The following table summarizes the Company’s interest costs incurred, capitalized and expensed during the three and nine months ended June 30, 2015 and 2014 : Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In millions) Capitalized interest, beginning of period $ 212.2 $ 183.7 $ 198.5 $ 137.1 Interest incurred (1) 43.2 45.1 126.2 144.0 Interest expensed: Charged to cost of sales (42.7 ) (34.2 ) (111.9 ) (86.5 ) Written off with inventory impairments (0.1 ) (1.1 ) (0.2 ) (1.1 ) Capitalized interest, end of period $ 212.6 $ 193.5 $ 212.6 $ 193.5 _______________ (1) Interest incurred includes interest incurred on the Company's financial services mortgage repurchase facility of $2.1 million and $5.2 million in the three and nine months ended June 30, 2015 , respectively, and $1.2 million and $3.0 million in the same periods of 2014 .
Rollforward of capitalized interest	The following table summarizes the Company’s interest costs incurred, capitalized and expensed during the three and nine months ended June 30, 2015 and 2014 : Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In millions) Capitalized interest, beginning of period $ 212.2 $ 183.7 $ 198.5 $ 137.1 Interest incurred (1) 43.2 45.1 126.2 144.0 Interest expensed: Charged to cost of sales (42.7 ) (34.2 ) (111.9 ) (86.5 ) Written off with inventory impairments (0.1 ) (1.1 ) (0.2 ) (1.1 ) Capitalized interest, end of period $ 212.6 $ 193.5 $ 212.6 $ 193.5 _______________ (1) Interest incurred includes interest incurred on the Company's financial services mortgage repurchase facility of $2.1 million and $5.2 million in the three and nine months ended June 30, 2015 , respectively, and $1.2 million and $3.0 million in the same periods of 2014 .

Mortgage Loans

Mortgage Loans	9 Months Ended
	Jun. 30, 2015
Mortgage Loans on Real Estate [Abstract]
MORTGAGE LOANS	MORTGAGE LOANS Mortgage Loans Held for Sale Mortgage loans held for sale consist primarily of single-family residential loans collateralized by the underlying property. At June 30, 2015 , mortgage loans held for sale had an aggregate fair value of $568.4 million and an aggregate outstanding principal balance of $557.5 million . At September 30, 2014 , mortgage loans held for sale had an aggregate fair value of $476.9 million and an aggregate outstanding principal balance of $466.6 million . During the nine months ended June 30, 2015 and 2014 , mortgage loans originated totaled $3.6 billion and $2.6 billion , respectively, and mortgage loans sold totaled $3.5 billion and $2.5 billion , respectively. The Company had gains on sales of loans and servicing rights of $52.2 million and $125.7 million during the three and nine months ended June 30, 2015 , compared to $26.6 million and $71.0 million in the same periods of 2014 . Net gains on sales of loans and servicing rights are included in financial services revenues in the consolidated statements of operations. Approximately 84% of the mortgage loans sold by DHI Mortgage during the nine months ended June 30, 2015 were sold to three major financial entities, one of which purchased 43% of the total loans sold. To manage the interest rate risk inherent in its mortgage operations, the Company hedges its risk using derivative instruments, generally forward sales of mortgage-backed securities (MBS), which are referred to as “hedging instruments” in the following discussion. The Company does not enter into or hold derivatives for trading or speculative purposes. Newly originated loans that have been closed but not committed to third-party purchasers are hedged to mitigate the risk of changes in their fair value. Hedged loans are committed to third-party purchasers typically within three days after origination. The notional amounts of the hedging instruments used to hedge mortgage loans held for sale vary in relationship to the underlying loan amounts, depending on the movements in the value of each hedging instrument relative to the value of the underlying mortgage loans. The fair value change related to the hedging instruments generally offsets the fair value change in the mortgage loans held for sale. The net fair value change, which for the three and nine months ended June 30, 2015 and 2014 was not significant, is recognized in financial services revenues in the consolidated statements of operations. At June 30, 2015 and September 30, 2014 , the Company's mortgage loans held for sale that were not committed to third-party purchasers totaled $328.5 million and $348.6 million , respectively, and the notional amounts of the hedging instruments related to those loans totaled $327.0 million and $348.2 million , respectively. Other Mortgage Loans and Loss Reserves Mortgage loans are sold with limited recourse provisions derived from industry-standard representations and warranties in the relevant agreements. These representations and warranties primarily involve the absence of misrepresentations by the borrower or other parties, the appropriate underwriting of the loan and in some cases, a required minimum number of payments to be made by the borrower. The Company generally does not retain any other continuing interest related to mortgage loans sold in the secondary market. The majority of other mortgage loans consists of loans repurchased due to these limited recourse obligations. Typically, these loans are impaired and some become real estate owned through the foreclosure process. At June 30, 2015 and September 30, 2014 , the Company’s total other mortgage loans and real estate owned, before loss reserves, were as follows: June 30, September 30, (In millions) Other mortgage loans $ 46.5 $ 41.0 Real estate owned 0.8 0.7 $ 47.3 $ 41.7 The Company has recorded reserves for estimated losses on other mortgage loans, real estate owned and future loan repurchase obligations due to the limited recourse provisions, all of which are recorded as reductions of financial services revenue. The loss reserve for loan repurchase and settlement obligations is estimated based on an analysis of loan repurchase requests received, actual repurchases and losses through the disposition of such loans or requests, discussions with mortgage purchasers and analysis of mortgages originated. The reserve balances at June 30, 2015 and September 30, 2014 were as follows: June 30, September 30, (In millions) Loss reserves related to: Other mortgage loans $ 1.6 $ 1.7 Real estate owned 0.1 0.1 Loan repurchase and settlement obligations – known and expected 17.9 24.4 $ 19.6 $ 26.2 Other mortgage loans and real estate owned net of the related loss reserves are included in financial services other assets, while loan repurchase obligations are included in financial services accounts payable and other liabilities in the accompanying consolidated balance sheets. Loan Commitments and Related Derivatives The Company is party to interest rate lock commitments (IRLCs), which are extended to borrowers who have applied for loan funding and meet defined credit and underwriting criteria. At June 30, 2015 and September 30, 2014 , the notional amount of IRLCs, which are accounted for as derivative instruments recorded at fair value, totaled $492.9 million and $303.2 million , respectively. The Company manages interest rate risk related to its IRLCs through the use of best-efforts whole loan delivery commitments and hedging instruments. These instruments are considered derivatives in an economic hedge and are accounted for at fair value with gains and losses recognized in financial services revenues in the consolidated statements of operations. At June 30, 2015 and September 30, 2014 , the notional amount of best-efforts whole loan delivery commitments totaled $64.8 million and $28.2 million , respectively, and the notional amount of hedging instruments related to IRLCs not yet committed to purchasers totaled $376.0 million and $243.8 million , respectively.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax expense for the three and nine months ended June 30, 2015 was $112.4 million and $272.8 million , respectively, compared to $58.7 million and $196.1 million in the same periods of fiscal 2014 . The effective tax rate was 33.7% and 34.8% for the three and nine months ended June 30, 2015 , respectively, compared to 34.2% and 34.8% in the same periods of fiscal 2014 . The effective tax rates for all periods include an expense for state income taxes that is reduced by a tax benefit for the domestic production activities deduction. At June 30, 2015 and September 30, 2014 , the Company had deferred tax assets, net of deferred tax liabilities, of $574.4 million and $596.1 million , respectively, partially offset by valuation allowances of $30.1 million and $31.1 million , respectively. The valuation allowance for both periods relates to the Company’s state deferred tax assets for net operating loss (NOL) carryforwards. The Company believes it is more likely than not that a portion of its state NOL carryforwards will not be realized because some state NOL carryforward periods are too brief to realize the related deferred tax assets. When assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. The realization of deferred tax assets is dependent upon the generation of sufficient taxable income in future periods. The Company records a valuation allowance when it determines it is more likely than not that a portion of the deferred tax assets will not be realized. The accounting for deferred taxes is based upon estimates of future results. Differences between the anticipated and actual outcomes of these future results could have a material impact on the Company's consolidated results of operations or financial position. Also, changes in existing federal and state tax laws and tax rates could affect future tax results and the valuation of the Company's deferred tax assets.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the numerators and denominators used in the computation of basic and diluted earnings per share. Options to purchase 8.6 million and 9.1 million shares of common stock were excluded from the computation of diluted earnings per share for the 2015 and 2014 periods, respectively, because their effect would have been antidilutive. Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In millions) Numerator: Net income $ 221.4 $ 113.1 $ 511.8 $ 367.3 Effect of dilutive securities: Interest and amortization of issuance costs associated with convertible senior notes, net of tax — 2.8 — 16.5 Numerator for diluted earnings per share after assumed conversions $ 221.4 $ 115.9 $ 511.8 $ 383.8 Denominator: Denominator for basic earnings per share — weighted average common shares 366.8 349.7 365.9 332.4 Effect of dilutive securities: Employee stock awards 3.5 3.2 3.4 3.1 Convertible senior notes — 14.9 — 30.7 Denominator for diluted earnings per share — adjusted weighted average common shares 370.3 367.8 369.3 366.2 Basic net income per common share $ 0.60 $ 0.32 $ 1.40 $ 1.10 Net income per common share assuming dilution $ 0.60 $ 0.32 $ 1.39 $ 1.05

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Jun. 30, 2015
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY The Company has an automatically effective universal shelf registration statement, filed with the SEC in September 2012, registering debt and equity securities that it may issue from time to time in amounts to be determined. The Company anticipates filing a new universal shelf registration statement that will register debt and equity securities prior to the expiration of its current universal shelf registration statement in September 2015. Effective August 1, 2014 , the Board of Directors authorized the repurchase of up to $100 million of the Company’s common stock effective through July 31, 2015 . All of the $100 million authorization was remaining at June 30, 2015 , and no common stock has been repurchased subsequent to June 30, 2015 . On July 23, 2015 , the Board of Directors authorized the repurchase of up to $100 million of the Company's common stock, which replaced the previous authorization. The new authorization is effective through July 31, 2016 . During the three months ended June 30, 2015 , the Board of Directors approved a quarterly cash dividend of $0.0625 per common share, which was paid on May 27, 2015 to stockholders of record on May 15, 2015 . A quarterly cash dividend of $0.0375 per common share was approved and paid during the three months ended June 30, 2014 . In July 2015 , the Board of Directors approved a quarterly cash dividend of $0.0625 per common share, payable on August 18, 2015 to stockholders of record on August 7, 2015 .

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Jun. 30, 2015
Compensation Related Costs [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Restricted Stock Units In November 2014 , the Compensation Committee of the Company's Board of Directors approved and granted a total of 290,000 performance based restricted stock units (Performance RSUs) to the Chairman of the Board, Chief Executive Officer and Chief Operating Officer of the Company that vest at the end of a three-year performance period ending September 30, 2017 . The number of units that ultimately vest depends on the Company's relative position as compared to its peers at the end of the three-year period in achieving certain performance criteria and can range from 0% to 200% of the number of units granted. The performance criteria are total shareholder return, return on investment, SG&A expense containment and gross profit. Each Performance RSU represents the contingent right to receive one share of the Company's common stock if the vesting conditions are satisfied. The Performance RSUs have no dividend or voting rights during the performance period. The fair value of these equity awards on the date of grant was $23.62 per unit. Compensation expense related to this grant was $0.7 million and $2.0 million for the three and nine months ended June 30, 2015 , respectively, based on the Company's performance against the peer group, the elapsed portion of the performance period and the grant date fair value of the award. In November 2014 , the Compensation Committee also approved and granted an award of 30,000 restricted stock units (RSUs) to the Chief Financial Officer of the Company that vest annually in equal installments over a three-year period ending in November 2017 . Each RSU represents the contingent right to receive one share of the Company's common stock if the vesting conditions are satisfied. The RSUs have no dividend or voting rights during the vesting period. The fair value of this equity award on the date of grant was $21.88 per unit. Compensation expense related to this grant was $0.1 million in the nine months ended June 30, 2015 . In March 2015 , the Compensation Committee of the Board of Directors and the Board of Directors approved and granted awards of approximately 2.0 million RSUs to the executive officers, other key employees and non-management directors of the Company. The RSUs were awarded to approximately 570 recipients and vest annually in equal installments over periods of three to five years. Each RSU represents the contingent right to receive one share of the Company's common stock if the vesting conditions are satisfied. The RSUs have no dividend or voting rights during the vesting period. RSUs generally result in less dilution to shareholders than stock options, which have been granted to key employees in the past. RSUs also provide an immediate, tangible value to the recipient and better diversification than stock options alone, which promotes the retention of key employees over the multi-year vesting period. The average fair value of these equity awards on the date of grant was $26.09 per unit. Compensation expense related to this grant was $2.5 million and $6.3 million for the three and nine months ended June 30, 2015 , respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Warranty Claims The Company typically provides its homebuyers with a ten-year limited warranty for major defects in structural elements such as framing components and foundation systems, a two-year limited warranty on major mechanical systems, and a one-year limited warranty on other construction components. The Company’s warranty liability is based upon historical warranty cost experience in each market in which it operates, and is adjusted as appropriate to reflect qualitative risks associated with the types of homes built and the geographic areas in which they are built. Changes in the Company’s warranty liability during the three and nine months ended June 30, 2015 and 2014 were as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In millions) Warranty liability, beginning of period $ 71.6 $ 57.3 $ 65.7 $ 56.9 Warranties issued 12.9 9.2 33.3 23.9 Changes in liability for pre-existing warranties 2.3 3.3 3.0 5.4 Settlements made (9.4 ) (8.5 ) (24.6 ) (24.9 ) Warranty liability, end of period $ 77.4 $ 61.3 $ 77.4 $ 61.3 Legal Claims and Insurance The Company is named as a defendant in various claims, complaints and other legal actions in the ordinary course of business. At any point in time, the Company is managing several hundred individual claims related to construction defect matters, personal injury claims, employment matters, land development issues and contract disputes. The Company has established reserves for these contingencies based on the estimated costs of pending claims and the estimated costs of anticipated future claims related to previously closed homes. The estimated liabilities for these contingencies were $450.7 million and $456.9 million at June 30, 2015 and September 30, 2014 , respectively, and are included in homebuilding accrued expenses and other liabilities in the consolidated balance sheets. At both June 30, 2015 and September 30, 2014 , approximately 99% of these reserves related to construction defect matters. Expenses related to the Company’s legal contingencies were $32.5 million and $15.5 million in the nine months ended June 30, 2015 and 2014 , respectively. The Company’s reserves for construction defect claims include the estimated costs of both known claims and anticipated future claims. As of June 30, 2015 , no individual existing claim was material to the Company’s financial statements, and the majority of the Company’s total construction defect reserves consisted of the estimated exposure to future claims on previously closed homes. The Company has closed a significant number of homes during recent years and may be subject to future construction defect claims on these homes. Although regulations vary from state to state, construction defect issues can generally be reported for up to ten years after the home has closed in many states in which the Company operates. Historical data and trends regarding the frequency of claims incurred and the costs to resolve claims relative to the types of products and markets where the Company operates are used to estimate the construction defect liabilities for both existing and anticipated future claims. These estimates are subject to ongoing revision as the circumstances of individual pending claims and historical data and trends change. Adjustments to estimated reserves are recorded in the accounting period in which the change in estimate occurs. Historical trends in construction defect claims have been inconsistent, and the Company believes they may continue to fluctuate over the next several years. Housing market conditions have been volatile across most of the Company's markets over the past ten years, and the Company believes such conditions can affect the frequency and cost of construction defect claims. The Company closed a significant number of homes over the past ten years. If the ultimate resolution of construction defect claims resulting from the Company's home closings in prior years varies from current expectations, it could significantly change the Company's estimates regarding the frequency and timing of claims incurred and the costs to resolve existing and anticipated future claims, which would impact the construction defect reserves in the future. If the frequency of claims incurred or costs of existing and future legal claims significantly exceed the Company's current estimates, they will have a significant negative impact on its future earnings and liquidity. The Company's reserves for legal claims decreased from $456.9 million at September 30, 2014 to $450.7 million at June 30, 2015 due to payments made for legal claims during the period, net of reimbursements received from subcontractors, partially offset by an increase in the number of closed homes that are subject to possible future construction defect claims. Changes in the Company’s legal claims reserves during the nine months ended June 30, 2015 and 2014 were as follows: Nine Months Ended 2015 2014 (In millions) Reserves for legal claims, beginning of period $ 456.9 $ 482.0 Increase (decrease) in reserves 31.2 (5.7 ) Payments (37.4 ) (18.7 ) Reserves for legal claims, end of period $ 450.7 $ 457.6 The Company estimates and records receivables when recovery is probable under its applicable insurance policies related to its estimated contingencies for known claims and anticipated future construction defect claims on previously closed homes and other legal claims and lawsuits incurred in the ordinary course of business. Additionally, the Company may have the ability to recover a portion of its losses from its subcontractors and their insurance carriers when the Company has been named as an additional insured on their insurance policies. The Company's receivables related to its estimates of insurance recoveries from estimated losses for pending legal claims and anticipated future claims related to previously closed homes totaled $129.6 million , $138.4 million and $135.8 million at June 30, 2015 , September 30, 2014 and June 30, 2014 , respectively, and are included in homebuilding other assets in the consolidated balance sheets. The estimation of losses related to these reserves and the related estimates of recoveries from insurance policies are subject to a high degree of variability due to uncertainties such as trends in construction defect claims relative to the Company's markets and the types of products built, claim frequency, claim settlement costs and patterns, insurance industry practices and legal interpretations, among others. Due to the high degree of judgment required in establishing reserves for these contingencies, actual future costs and recoveries from insurance could differ significantly from current estimated amounts, and it is not possible for the Company to make a reasonable estimate of the possible loss or range of loss in excess of its reserves. Land and Lot Option Purchase Contracts The Company enters into land and lot option purchase contracts to acquire land or lots for the construction of homes. At June 30, 2015 , the Company had total deposits of $67.9 million , consisting of cash deposits of $59.9 million and promissory notes, letters of credit and surety bonds of $8.0 million , to purchase land and lots with a total remaining purchase price of approximately $2.0 billion . A limited number of the land and lot option purchase contracts at June 30, 2015 , representing $31.1 million of remaining purchase price, were subject to specific performance clauses which may require the Company to purchase the land or lots upon the land sellers meeting their contractual obligations. The majority of land and lots under contract are currently expected to be purchased within three years. Other Commitments At June 30, 2015 , the Company had outstanding surety bonds of $999.7 million and letters of credit of $97.4 million to secure performance under various contracts. Of the total letters of credit, $94.3 million were issued under the Company's revolving credit facility. The remaining $3.1 million of letters of credit were issued under secured letter of credit agreements requiring the Company to deposit cash as collateral with the issuing banks, and the cash restricted for this purpose is included in homebuilding restricted cash in the consolidated balance sheets.

Other Assets and Accrued Expens

Other Assets and Accrued Expenses and Other Liabilities	9 Months Ended
	Jun. 30, 2015
Other Assets and Accrued Expenses and Other Liabilities [Abstract]
OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES	OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES The Company’s homebuilding other assets at June 30, 2015 and September 30, 2014 were as follows: June 30, September 30, (In millions) Insurance receivables $ 129.6 $ 138.4 Earnest money and refundable deposits 119.3 113.3 Accounts and notes receivable 40.0 38.6 Prepaid assets 46.9 55.4 Rental properties 49.5 48.7 Debt securities collateralized by residential real estate 35.6 20.8 Other assets 24.5 25.9 $ 445.4 $ 441.1 The Company’s homebuilding accrued expenses and other liabilities at June 30, 2015 and September 30, 2014 were as follows: June 30, September 30, (In millions) Reserves for legal claims $ 450.7 $ 456.9 Employee compensation and related liabilities 152.9 150.8 Warranty liability 77.4 65.7 Accrued interest 49.7 29.1 Federal and state income tax liabilities 38.1 12.8 Inventory related accruals 28.5 36.1 Homebuyer deposits 58.9 49.5 Accrued property taxes 22.0 29.1 Other liabilities 31.0 45.0 $ 909.2 $ 875.0

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value measurements are used for the Company's mortgage loans held for sale, debt securities collateralized by residential real estate, IRLCs and other derivative instruments on a recurring basis, and are used for inventories, other mortgage loans, rental properties and real estate owned on a nonrecurring basis, when events and circumstances indicate that the carrying value may not be recoverable. The fair value hierarchy and its application to the Company’s assets and liabilities is as follows: • Level 1 – Valuation is based on quoted prices in active markets for identical assets and liabilities. • Level 2 – Valuation is determined from quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar instruments in markets that are not active, or by model-based techniques in which all significant inputs are observable in the market. The Company’s assets and liabilities measured at fair value using Level 2 inputs on a recurring basis are as follows: ▪ mortgage loans held for sale; ▪ IRLCs; and ▪ loan sale commitments and hedging instruments. • Level 3 – Valuation is typically derived from model-based techniques in which at least one significant input is unobservable and based on the Company’s own estimates about the assumptions that market participants would use to value the asset or liability. The Company's assets measured at fair value using Level 3 inputs on a recurring basis are as follows: ▪ debt securities collateralized by residential real estate; and ▪ a limited number of mortgage loans held for sale with some degree of impairment affecting their marketability. The Company’s assets measured at fair value using Level 3 inputs that are typically reported at the lower of carrying value or fair value on a nonrecurring basis are as follows: ▪ inventory held and used; ▪ inventory available for sale; ▪ certain other mortgage loans; and ▪ rental properties and real estate owned. The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2015 and September 30, 2014 , and the changes in the fair value of the Level 3 assets during the nine months ended June 30, 2015 and 2014 . Fair Value at June 30, 2015 Balance Sheet Location Level 1 Level 2 Level 3 Total (In millions) Homebuilding: Debt securities collateralized by residential real estate (a) Other assets $ — $ — $ 35.6 $ 35.6 Financial Services: Mortgage loans held for sale (b) Mortgage loans held for sale — 554.9 13.5 568.4 Derivatives not designated as hedging instruments (c): Interest rate lock commitments Other assets — 1.7 — 1.7 Forward sales of MBS Other assets — 2.6 — 2.6 Best-efforts and mandatory commitments Other assets — 0.4 — 0.4 Fair Value at September 30, 2014 Balance Sheet Location Level 1 Level 2 Level 3 Total (In millions) Homebuilding: Debt securities collateralized by residential real estate (a) Other assets $ — $ — $ 20.8 $ 20.8 Financial Services: Mortgage loans held for sale (b) Mortgage loans held for sale — 464.9 12.0 476.9 Derivatives not designated as hedging instruments (c): Interest rate lock commitments Other assets — 2.4 — 2.4 Forward sales of MBS Other liabilities — (1.9 ) — (1.9 ) Best-efforts and mandatory commitments Other liabilities — (0.1 ) — (0.1 ) Level 3 Assets at Fair Value for the Nine Months Ended June 30, 2015 Balance at Net realized and unrealized gains Purchases Sales and Settlements Net transfers in (out) of Level 3 Balance at (In millions) Debt securities collateralized by residential real estate (a) $ 20.8 $ — $ 14.8 $ — $ — $ 35.6 Mortgage loans held for sale (b) 12.0 0.3 — (1.7 ) 2.9 13.5 Level 3 Assets at Fair Value for the Nine Months Ended June 30, 2014 Balance at Net realized and unrealized gains Purchases Sales and Settlements Net transfers in (out) of Level 3 Balance at (In millions) Debt securities collateralized by residential real estate (a) $ 20.3 $ 0.5 $ — $ — $ — $ 20.8 Mortgage loans held for sale (b) 5.7 0.7 — (0.5 ) 3.4 9.3 (a) In October 2012, the Company purchased defaulted debt securities, which were secured by residential real estate, for $18.6 million in cash. In the three months ended June 30, 2015 , the Company purchased the residential real estate parcel and all additional defaulted debt securities associated with the parcel for $19.9 million in cash, of which $5.1 million was allocated to the land and $14.8 million was allocated to the debt securities. The Company plans to develop the property to build and sell homes and intends to sell the debt securities to a third party in the future. These securities, which are included in other assets in the consolidated balance sheets, are classified as available for sale and are reflected at fair value. The fair value of the securities was determined by estimating the expected proceeds upon their eventual sale. Unrealized gains or losses on these securities, net of tax, are recorded in accumulated other comprehensive income (loss) in the consolidated balance sheets. (b) Mortgage loans held for sale are reflected at fair value. Interest income earned on mortgage loans held for sale is based on contractual interest rates and included in financial services interest and other income. Mortgage loans held for sale at June 30, 2015 includes $13.5 million of originated loans for which the Company elected the fair value option upon origination and which the Company has not sold into the secondary market, but plans to sell as market conditions permit. The fair value of these mortgage loans held for sale is generally calculated considering the secondary market and adjusted for the value of the underlying collateral, including interest rate risk, liquidity risk and prepayment risk. (c) Fair value measurements of these derivatives represent changes in fair value, as calculated by reference to quoted prices for similar assets, and are reflected in the balance sheet. Changes in these fair values during the periods presented are included in financial services revenues in the consolidated statements of operations. The following table summarizes the Company’s assets measured at fair value on a nonrecurring basis at June 30, 2015 and September 30, 2014 : Fair Value at Fair Value at Balance Sheet Location Level 3 Level 3 (In millions) Homebuilding: Inventory held and used (a) (b) Inventories $ 16.4 $ 19.2 Inventory available for sale (a) (c) Inventories 5.2 8.2 Financial Services: Other mortgage loans (a) (d) Other assets 13.8 16.0 Real estate owned (a) (d) Other assets 0.5 0.5 _______________________________________ (a) The fair values included in the table above represent only those assets whose carrying values were adjusted to fair value in the respective quarter. (b) In performing its impairment analysis of communities, discount rates ranging from 12% to 18% were used in the periods presented. (c) The fair value of inventory available for sale was determined based on recent offers received from outside third parties, comparable sales or actual contracts. (d) The fair values of other mortgage loans and real estate owned are determined based on the value of the underlying collateral. For the financial assets and liabilities that the Company does not reflect at fair value, the following tables present both their respective carrying value and fair value at June 30, 2015 and September 30, 2014 : Carrying Value Fair Value at June 30, 2015 Level 1 Level 2 Level 3 Total (In millions) Homebuilding: Cash and cash equivalents (a) $ 766.7 $ 766.7 $ — $ — $ 766.7 Restricted cash (a) 11.7 11.7 — — 11.7 Senior notes (b) 3,342.7 — 3,393.8 — 3,393.8 Other secured notes (a) 30.4 — — 30.4 30.4 Financial Services: Cash and cash equivalents (a) 38.9 38.9 — — 38.9 Mortgage repurchase facility (a) 448.0 — — 448.0 448.0 Carrying Value Fair Value at September 30, 2014 Level 1 Level 2 Level 3 Total (In millions) Homebuilding: Cash and cash equivalents (a) $ 632.5 $ 632.5 $ — $ — $ 632.5 Restricted cash (a) 10.0 10.0 — — 10.0 Revolving credit facility (a) 300.0 — — 300.0 300.0 Senior notes (b) 3,000.2 — 3,033.8 — 3,033.8 Other secured notes (a) 23.4 — — 23.4 23.4 Financial Services: Cash and cash equivalents (a) 29.3 29.3 — — 29.3 Mortgage repurchase facility (a) 359.2 — — 359.2 359.2 _______________________________________ (a) The fair value approximates carrying value due to its short-term nature, short maturity or floating interest rate terms, as applicable. (b) The fair value is determined based on quoted market prices of recent transactions of the notes, which is classified as Level 2 within the fair value hierarchy.

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
	Jun. 30, 2015
Supplemental Guarantor Information [Abstract]
SUPPLEMENTAL GUARANTOR INFORMATION	SUPPLEMENTAL GUARANTOR INFORMATION All of the Company's senior notes and the unsecured revolving credit facility are fully and unconditionally guaranteed, on a joint and several basis, by substantially all of the Company's homebuilding subsidiaries (collectively, Guarantor Subsidiaries). Each of the Guarantor Subsidiaries is 100% owned, directly or indirectly, by the Company. The Company's subsidiaries engaged in the financial services segment and certain other subsidiaries do not guarantee the Company's senior notes and the unsecured revolving credit facility (collectively, Non-Guarantor Subsidiaries). In lieu of providing separate financial statements for the Guarantor Subsidiaries, consolidating condensed financial statements are presented below. Separate financial statements and other disclosures concerning the Guarantor Subsidiaries are not presented because management has determined that they are not material to investors. The guarantees by a Guarantor Subsidiary will be automatically and unconditionally released and discharged upon: (1) the sale or other disposition of its common stock whereby it is no longer a subsidiary of the Company; (2) the sale or other disposition of all or substantially all of its assets (other than to the Company or another Guarantor); (3) its merger or consolidation with an entity other than the Company or another Guarantor; or (4) depending on the provisions of the applicable indenture, either (a) its proper designation as an unrestricted subsidiary, (b) its ceasing to guarantee any of the Company's publicly traded debt securities, or (c) its ceasing to guarantee any of the Company's obligations under the revolving credit facility. Consolidating Balance Sheet June 30, 2015 D.R. Horton, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total (In millions) ASSETS Cash and cash equivalents $ 616.5 $ 103.7 $ 85.4 $ — $ 805.6 Restricted cash 8.1 2.5 1.1 — 11.7 Investments in subsidiaries 3,302.2 — — (3,302.2 ) — Inventories 2,683.5 5,402.1 25.6 — 8,111.2 Deferred income taxes 172.7 360.9 10.7 — 544.3 Property and equipment, net 56.2 52.4 90.7 — 199.3 Other assets 189.5 238.6 97.9 — 526.0 Mortgage loans held for sale — — 568.4 — 568.4 Goodwill — 97.0 — — 97.0 Intercompany receivables 2,373.8 — — (2,373.8 ) — Total Assets $ 9,402.5 $ 6,257.2 $ 879.8 $ (5,676.0 ) $ 10,863.5 LIABILITIES & EQUITY Accounts payable and other liabilities $ 428.6 $ 857.7 $ 125.1 $ — $ 1,411.4 Intercompany payables — 2,254.3 119.5 (2,373.8 ) — Notes payable 3,344.3 10.7 466.1 — 3,821.1 Total Liabilities 3,772.9 3,122.7 710.7 (2,373.8 ) 5,232.5 Total stockholders’ equity 5,629.6 3,134.5 167.7 (3,302.2 ) 5,629.6 Noncontrolling interests — — 1.4 — 1.4 Total Equity 5,629.6 3,134.5 169.1 (3,302.2 ) 5,631.0 Total Liabilities & Equity $ 9,402.5 $ 6,257.2 $ 879.8 $ (5,676.0 ) $ 10,863.5 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 June 30, 2015 D.R. Horton, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total (In millions) Homebuilding: Revenues $ 890.5 $ 1,985.9 $ — $ — $ 2,876.4 Cost of sales 718.0 1,601.0 1.4 — 2,320.4 Gross profit (loss) 172.5 384.9 (1.4 ) — 556.0 Selling, general and administrative expense 116.2 135.5 6.1 — 257.8 Equity in (income) of subsidiaries (277.1 ) — — 277.1 — Other (income) (0.4 ) (0.6 ) (2.9 ) — (3.9 ) Homebuilding pre-tax income (loss) 333.8 250.0 (4.6 ) (277.1 ) 302.1 Financial Services: Revenues — — 74.4 — 74.4 General and administrative expense — — 46.0 — 46.0 Interest and other (income) — — (3.3 ) — (3.3 ) Financial services pre-tax income — — 31.7 — 31.7 Income before income taxes 333.8 250.0 27.1 (277.1 ) 333.8 Income tax expense 112.4 83.0 10.3 (93.3 ) 112.4 Net income $ 221.4 $ 167.0 $ 16.8 $ (183.8 ) $ 221.4 Comprehensive income $ 221.4 $ 167.0 $ 16.8 $ (183.8 ) $ 221.4 NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Nine Months Ended June 30, 2015 D.R. Guarantor Non-Guarantor Eliminations Total (In millions) Homebuilding: Revenues $ 2,314.4 $ 5,153.6 $ — $ — $ 7,468.0 Cost of sales 1,865.6 4,156.0 5.3 — 6,026.9 Gross profit (loss) 448.8 997.6 (5.3 ) — 1,441.1 Selling, general and administrative expense 338.9 381.0 18.3 — 738.2 Equity in (income) of subsidiaries (673.4 ) — — 673.4 — Other (income) (1.3 ) (3.1 ) (9.5 ) — (13.9 ) Homebuilding pre-tax income (loss) 784.6 619.7 (14.1 ) (673.4 ) 716.8 Financial Services: Revenues — — 183.6 — 183.6 General and administrative expense — — 124.6 — 124.6 Interest and other (income) — — (8.8 ) — (8.8 ) Financial services pre-tax income — — 67.8 — 67.8 Income before income taxes 784.6 619.7 53.7 (673.4 ) 784.6 Income tax expense 272.8 213.9 20.6 (234.5 ) 272.8 Net income $ 511.8 $ 405.8 $ 33.1 $ (438.9 ) $ 511.8 Comprehensive income $ 511.8 $ 405.8 $ 33.1 $ (438.9 ) $ 511.8 NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Three Months Ended June 30, 2014 D.R. Horton, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total (In millions) Homebuilding: Revenues $ 653.8 $ 1,445.5 $ 3.6 $ — $ 2,102.9 Cost of sales 523.2 1,198.8 3.5 — 1,725.5 Gross profit 130.6 246.7 0.1 — 377.4 Selling, general and administrative expense 102.3 116.0 3.6 — 221.9 Equity in (income) of subsidiaries (143.2 ) — — 143.2 — Other (income) (0.3 ) (0.9 ) (1.9 ) — (3.1 ) Homebuilding pre-tax income (loss) 171.8 131.6 (1.6 ) (143.2 ) 158.6 Financial Services: Revenues — — 44.1 — 44.1 General and administrative expense — — 33.8 — 33.8 Interest and other (income) — — (2.9 ) — (2.9 ) Financial services pre-tax income — — 13.2 — 13.2 Income before income taxes 171.8 131.6 11.6 (143.2 ) 171.8 Income tax expense 58.7 44.9 4.1 (49.0 ) 58.7 Net income $ 113.1 $ 86.7 $ 7.5 $ (94.2 ) $ 113.1 Comprehensive income $ 113.1 $ 86.7 $ 7.5 $ (94.2 ) $ 113.1 NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Nine Months Ended June 30, 2014 D.R. Guarantor Non-Guarantor Eliminations Total (In millions) Homebuilding: Revenues $ 1,780.0 $ 3,645.4 $ 9.7 $ — $ 5,435.1 Cost of sales 1,406.1 2,903.3 9.5 — 4,318.9 Gross profit 373.9 742.1 0.2 — 1,116.2 Selling, general and administrative expense 279.4 306.0 7.8 — 593.2 Equity in (income) of subsidiaries (467.8 ) — — 467.8 — Other (income) (1.1 ) (2.8 ) (5.3 ) — (9.2 ) Homebuilding pre-tax income (loss) 563.4 438.9 (2.3 ) (467.8 ) 532.2 Financial Services: Revenues — — 117.4 — 117.4 General and administrative expense — — 93.7 — 93.7 Interest and other (income) — — (7.5 ) — (7.5 ) Financial services pre-tax income — — 31.2 — 31.2 Income before income taxes 563.4 438.9 28.9 (467.8 ) 563.4 Income tax expense 196.1 152.8 10.1 (162.9 ) 196.1 Net income $ 367.3 $ 286.1 $ 18.8 $ (304.9 ) $ 367.3 Comprehensive income $ 367.3 $ 286.4 $ 18.8 $ (304.9 ) $ 367.6 NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Nine Months Ended June 30, 2015 D.R. Horton, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total (In millions) OPERATING ACTIVITIES Net cash provided by (used in) operating activities $ 164.7 $ 127.1 $ (88.2 ) $ (15.0 ) $ 188.6 INVESTING ACTIVITIES Purchases of property and equipment (21.4 ) (18.2 ) (3.7 ) — (43.3 ) Increase in restricted cash (1.2 ) (0.5 ) — — (1.7 ) Net principal increase of other mortgage loans and real estate owned — — (6.3 ) — (6.3 ) Intercompany advances 58.8 — — (58.8 ) — Purchases of debt securities collateralized by residential real estate (14.8 ) — — — (14.8 ) Payments related to acquisition of a business (68.7 ) — — — (68.7 ) Net cash used in investing activities (47.3 ) (18.7 ) (10.0 ) (58.8 ) (134.8 ) FINANCING ACTIVITIES Proceeds from notes payable 1,472.0 — 88.8 — 1,560.8 Repayment of notes payable (1,433.0 ) (0.3 ) (0.2 ) — (1,433.5 ) Intercompany advances — (93.9 ) 35.1 58.8 — Proceeds from stock associated with certain employee benefit plans 24.0 — — — 24.0 Excess income tax benefit from employee stock awards 7.3 — — — 7.3 Cash dividends paid (68.6 ) — (15.0 ) 15.0 (68.6 ) Net cash provided by (used in) financing activities 1.7 (94.2 ) 108.7 73.8 90.0 Increase in cash and cash equivalents 119.1 14.2 10.5 — 143.8 Cash and cash equivalents at beginning of period 497.4 89.5 74.9 — 661.8 Cash and cash equivalents at end of period $ 616.5 $ 103.7 $ 85.4 $ — $ 805.6 NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Nine Months Ended June 30, 2014 D.R. Horton, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total (In millions) OPERATING ACTIVITIES Net cash (used in) provided by operating activities $ (259.5 ) $ (281.7 ) $ 7.5 $ (40.0 ) $ (573.7 ) INVESTING ACTIVITIES Purchases of property and equipment (17.9 ) (23.7 ) (8.3 ) — (49.9 ) Decrease (increase) in restricted cash 58.2 (0.6 ) 0.1 — 57.7 Net principal increase of other mortgage loans and real estate owned — — (2.8 ) — (2.8 ) Intercompany advances (329.0 ) — — 329.0 — Payments related to acquisition of a business (222.7 ) — — — (222.7 ) Net cash used in investing activities (511.4 ) (24.3 ) (11.0 ) 329.0 (217.7 ) FINANCING ACTIVITIES Proceeds from notes payable 622.0 — 64.3 — 686.3 Repayment of notes payable (273.9 ) — — — (273.9 ) Intercompany advances — 332.7 (3.7 ) (329.0 ) — Proceeds from stock associated with certain employee benefit plans 43.1 — — — 43.1 Excess income tax benefit from employee stock awards 1.6 — — — 1.6 Cash dividends paid (25.8 ) — (40.0 ) 40.0 (25.8 ) Net cash provided by financing activities 367.0 332.7 20.6 (289.0 ) 431.3 (Decrease) increase in cash and cash equivalents (403.9 ) 26.7 17.1 — (360.1 ) Cash and cash equivalents at beginning of period 871.4 38.4 67.6 — 977.4 Cash and cash equivalents at end of period $ 467.5 $ 65.1 $ 84.7 $ — $ 617.3

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain reclassifications have been made in the prior year financial statements to conform to classifications used in the current year. Cash balances of the Company's captive insurance subsidiary, which are expected to be used to fund the subsidiary's operations and pay future anticipated legal claims, have been correctly presented within homebuilding cash and cash equivalents rather than homebuilding other assets. These balances were $42.3 million and $40.9 million at June 30, 2014 and September 30, 2013 , respectively. The statement of cash flows for the nine months ended June 30, 2014 , including the statement of cash flows of the Non-Guarantor Subsidiaries as reflected in Note N , have been revised to reflect this correction. As other prior period financial information is presented in future filings, the Company will similarly revise its financial statements in such filings. Cash balances of the Company's captive insurance subsidiary, which were $40.2 million and $43.3 million at June 30, 2015 and September 30, 2014 , respectively, are included in homebuilding cash and cash equivalents in the consolidated balance sheets.
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Variable Interests The Company enters into land and lot option purchase contracts to acquire land or lots for the construction of homes. Under these contracts, the Company will fund a stated deposit in consideration for the right, but not the obligation, to purchase land or lots at a future point in time with predetermined terms. Under the terms of many of the option purchase contracts, the option deposits are not refundable in the event the Company elects to terminate the contract. Option purchase contracts can result in the creation of a variable interest in the entity holding the land parcel under option. There were no variable interest entities reported in the consolidated balance sheets at June 30, 2015 and September 30, 2014 because the Company determined it did not control the activities that most significantly impact the variable interest entity’s economic performance and it did not have an obligation to absorb losses of or the right to receive benefits from the entity. The maximum exposure to losses related to the Company’s variable interest entities is limited to the amounts of the Company’s related option deposits. At June 30, 2015 and September 30, 2014 , the option deposits related to these contracts totaled $64.2 million and $55.7 million , respectively, and are included in homebuilding other assets in the consolidated balance sheets.
Business Combinations Policy [Policy Text Block]	Business Acquisition In April 2015 , the Company acquired the homebuilding operations of Pacific Ridge Homes for $70.9 million in cash, of which $2.0 million was paid subsequent to June 30, 2015 . Pacific Ridge Homes operates in Seattle, Washington. The assets acquired included approximately 90 homes in inventory, 350 lots and control of approximately 400 additional lots through option contracts. The Company also acquired a sales order backlog of 42 homes valued at $18.7 million .
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In January 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-04, “Receivables - Troubled Debt Restructurings by Creditors,” which was revised in August 2014. ASU 2014-04 applies to all creditors who obtain physical possession of residential real estate property collateralizing a consumer mortgage loan in satisfaction of a receivable. The guidance clarifies when an in substance repossession or foreclosure of the property has occurred and helps determine when a creditor should derecognize a loan receivable and recognize real estate property. ASU 2014-14 applies to creditors that hold government-guaranteed mortgage loans and requires that these loans, including those guaranteed by the Federal Housing Administration (FHA) and Veterans Affairs (VA), be derecognized and that a separate other receivable be recognized upon foreclosure if certain conditions are met. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance expected to be recovered from the guarantor. The guidance in this ASU is effective for the Company beginning October 1, 2015 and is not expected to have a material impact on its consolidated financial position, results of operations or cash flows. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which is a comprehensive new revenue recognition model that will replace most existing revenue recognition guidance. The core principle of this guidance is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The guidance is effective for the Company beginning October 1, 2018 and allows for full retrospective or modified retrospective methods of adoption. The Company is currently evaluating the impact of this guidance on its consolidated financial position, results of operations and cash flows. In June 2014, the FASB issued ASU 2014-12, “Compensation - Stock Compensation,” which states that a performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition. The guidance is effective for the Company beginning October 1, 2016 and is not expected to have a material impact on its consolidated financial position, results of operations or cash flows. In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements - Going Concern,” which provides guidance about management's responsibility to evaluate whether there is substantial doubt about the entity's ability to continue as a going concern and to provide related footnote disclosures. This guidance is intended to reduce the diversity in the timing and content of footnote disclosures. The guidance is effective for the Company beginning with its fiscal year ending September 30, 2017 and is not expected to have any impact on its consolidated financial position, results of operations or cash flows. In February 2015, the FASB issued ASU 2015-02, “Consolidation,” which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The guidance is effective for the Company beginning October 1, 2016 and is not expected to have a material impact on its consolidated financial position, results of operations or cash flows. In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest,” which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. This new guidance is a change from the current treatment of recording debt issuance costs as an asset representing a deferred charge, and is consistent with the accounting treatment for debt discounts. The guidance, which requires retrospective application, is effective for the Company beginning October 1, 2016, but early adoption is allowed. The Company is currently evaluating this guidance, and it is not expected to have a material impact on its consolidated financial position, results of operations or cash flows. In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory,” which simplifies the subsequent measurement of inventory, excluding inventory measured using the last-in, first-out or retail inventory methods. The guidance specifies that inventory currently measured at the lower of cost or market, where market could be determined with different methods, should now be measured at the lower of cost or net realizable value. The guidance will be applied prospectively after the effective date for the Company of October 1, 2017 and is not expected to have a material impact on its consolidated financial position, results of operations or cash flows.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The accounting policies of the reporting segments are described throughout Note A included in the Company’s annual report on Form 10-K for the fiscal year ended September 30, 2014 . Financial information relating to the Company's reporting segments is as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In millions) Revenues Homebuilding revenues: East $ 367.4 $ 251.3 $ 946.9 $ 644.6 Midwest 205.4 133.1 480.3 338.8 Southeast 775.5 584.4 2,041.0 1,503.0 South Central 715.1 533.3 1,923.1 1,384.9 Southwest 96.7 74.1 243.0 207.8 West 716.3 526.7 1,833.7 1,356.0 Homebuilding revenues 2,876.4 2,102.9 7,468.0 5,435.1 Financial services revenues 74.4 44.1 183.6 117.4 Total revenues $ 2,950.8 $ 2,147.0 $ 7,651.6 $ 5,552.5 Inventory Impairments East $ 2.1 $ 2.0 $ 2.1 $ 2.0 Midwest — 48.8 — 48.8 Southeast 1.4 0.7 8.7 2.8 South Central 0.8 — 1.4 — Southwest — — — — West 7.4 3.2 11.4 3.4 Total inventory impairments $ 11.7 $ 54.7 $ 23.6 $ 57.0 Income Before Income Taxes (1) Homebuilding pre-tax income (loss): East $ 30.3 $ 13.3 $ 69.7 $ 39.0 Midwest 21.5 (37.2 ) 36.5 (18.1 ) Southeast 80.7 52.3 197.4 156.0 South Central 78.9 54.0 205.1 143.0 Southwest 5.2 8.2 8.3 19.7 West 85.5 68.0 199.8 192.6 Homebuilding pre-tax income 302.1 158.6 716.8 532.2 Financial services pre-tax income 31.7 13.2 67.8 31.2 Income before income taxes $ 333.8 $ 171.8 $ 784.6 $ 563.4 ________________ (1) Expenses maintained at the corporate level consist primarily of interest and property taxes, which are capitalized and amortized to cost of sales or expensed directly, and the expenses related to operating the Company’s corporate office. The amortization of capitalized interest and property taxes is allocated to each segment based on the segment’s cost of sales, while those expenses associated with the corporate office are allocated to each segment based on the segment’s inventory balances. June 30, September 30, (In millions) Homebuilding Inventories (1) East $ 855.1 $ 842.7 Midwest 485.1 477.6 Southeast 1,966.5 1,943.0 South Central 1,962.2 1,742.5 Southwest 280.0 292.9 West 2,307.4 2,169.4 Corporate and unallocated (2) 254.9 232.4 Total homebuilding inventory $ 8,111.2 $ 7,700.5 ________________ (1) Homebuilding inventories are the only assets included in the measure of homebuilding segment assets used by the Company’s chief operating decision makers. (2) Corporate and unallocated consists primarily of capitalized interest and property taxes.

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Summary of notes payable at principal amounts, net of unamortized discounts	The Company’s notes payable at their principal amounts, net of any unamortized discounts, consist of the following: June 30, September 30, (In millions) Homebuilding: Unsecured: Revolving credit facility, maturing 2019 $ — $ 300.0 5.25% senior notes due 2015, net — 157.7 5.625% senior notes due 2016, net 170.0 169.9 6.5% senior notes due 2016, net 372.7 372.6 4.75% senior notes due 2017 350.0 350.0 3.625% senior notes due 2018 400.0 400.0 3.75% senior notes due 2019 500.0 500.0 4.0% senior notes due 2020 500.0 — 4.375% senior notes due 2022 350.0 350.0 4.75% senior notes due 2023 300.0 300.0 5.75% senior notes due 2023 400.0 400.0 Other secured notes 30.4 23.4 $ 3,373.1 $ 3,323.6 Financial Services: Mortgage repurchase facility, maturing 2016 $ 448.0 $ 359.2

Mortgage Loans (Tables)

Mortgage Loans (Tables)	9 Months Ended
	Jun. 30, 2015
Mortgage Loans on Real Estate [Abstract]
Schedule of other mortgage loans and real estate owned	At June 30, 2015 and September 30, 2014 , the Company’s total other mortgage loans and real estate owned, before loss reserves, were as follows: June 30, September 30, (In millions) Other mortgage loans $ 46.5 $ 41.0 Real estate owned 0.8 0.7 $ 47.3 $ 41.7
Schedule of mortgage loss reserves	The reserve balances at June 30, 2015 and September 30, 2014 were as follows: June 30, September 30, (In millions) Loss reserves related to: Other mortgage loans $ 1.6 $ 1.7 Real estate owned 0.1 0.1 Loan repurchase and settlement obligations – known and expected 17.9 24.4 $ 19.6 $ 26.2

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Numerator and denominator used to compute basic and diluted earnings per share	The following table sets forth the numerators and denominators used in the computation of basic and diluted earnings per share. Options to purchase 8.6 million and 9.1 million shares of common stock were excluded from the computation of diluted earnings per share for the 2015 and 2014 periods, respectively, because their effect would have been antidilutive. Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In millions) Numerator: Net income $ 221.4 $ 113.1 $ 511.8 $ 367.3 Effect of dilutive securities: Interest and amortization of issuance costs associated with convertible senior notes, net of tax — 2.8 — 16.5 Numerator for diluted earnings per share after assumed conversions $ 221.4 $ 115.9 $ 511.8 $ 383.8 Denominator: Denominator for basic earnings per share — weighted average common shares 366.8 349.7 365.9 332.4 Effect of dilutive securities: Employee stock awards 3.5 3.2 3.4 3.1 Convertible senior notes — 14.9 — 30.7 Denominator for diluted earnings per share — adjusted weighted average common shares 370.3 367.8 369.3 366.2 Basic net income per common share $ 0.60 $ 0.32 $ 1.40 $ 1.10 Net income per common share assuming dilution $ 0.60 $ 0.32 $ 1.39 $ 1.05

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Changes in warranty liability	Changes in the Company’s warranty liability during the three and nine months ended June 30, 2015 and 2014 were as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In millions) Warranty liability, beginning of period $ 71.6 $ 57.3 $ 65.7 $ 56.9 Warranties issued 12.9 9.2 33.3 23.9 Changes in liability for pre-existing warranties 2.3 3.3 3.0 5.4 Settlements made (9.4 ) (8.5 ) (24.6 ) (24.9 ) Warranty liability, end of period $ 77.4 $ 61.3 $ 77.4 $ 61.3
Rollforward of the reserve of legal claims	Changes in the Company’s legal claims reserves during the nine months ended June 30, 2015 and 2014 were as follows: Nine Months Ended 2015 2014 (In millions) Reserves for legal claims, beginning of period $ 456.9 $ 482.0 Increase (decrease) in reserves 31.2 (5.7 ) Payments (37.4 ) (18.7 ) Reserves for legal claims, end of period $ 450.7 $ 457.6

Other Assets and Accrued Expe26

Other Assets and Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Jun. 30, 2015
Other Assets and Accrued Expenses and Other Liabilities [Abstract]
Homebuilding other assets	The Company’s homebuilding other assets at June 30, 2015 and September 30, 2014 were as follows: June 30, September 30, (In millions) Insurance receivables $ 129.6 $ 138.4 Earnest money and refundable deposits 119.3 113.3 Accounts and notes receivable 40.0 38.6 Prepaid assets 46.9 55.4 Rental properties 49.5 48.7 Debt securities collateralized by residential real estate 35.6 20.8 Other assets 24.5 25.9 $ 445.4 $ 441.1
Homebuilding accrued expenses and other liabilities	The Company’s homebuilding accrued expenses and other liabilities at June 30, 2015 and September 30, 2014 were as follows: June 30, September 30, (In millions) Reserves for legal claims $ 450.7 $ 456.9 Employee compensation and related liabilities 152.9 150.8 Warranty liability 77.4 65.7 Accrued interest 49.7 29.1 Federal and state income tax liabilities 38.1 12.8 Inventory related accruals 28.5 36.1 Homebuyer deposits 58.9 49.5 Accrued property taxes 22.0 29.1 Other liabilities 31.0 45.0 $ 909.2 $ 875.0

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair value measurements of assets and liabilities on a recurring basis	The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2015 and September 30, 2014 , and the changes in the fair value of the Level 3 assets during the nine months ended June 30, 2015 and 2014 . Fair Value at June 30, 2015 Balance Sheet Location Level 1 Level 2 Level 3 Total (In millions) Homebuilding: Debt securities collateralized by residential real estate (a) Other assets $ — $ — $ 35.6 $ 35.6 Financial Services: Mortgage loans held for sale (b) Mortgage loans held for sale — 554.9 13.5 568.4 Derivatives not designated as hedging instruments (c): Interest rate lock commitments Other assets — 1.7 — 1.7 Forward sales of MBS Other assets — 2.6 — 2.6 Best-efforts and mandatory commitments Other assets — 0.4 — 0.4 Fair Value at September 30, 2014 Balance Sheet Location Level 1 Level 2 Level 3 Total (In millions) Homebuilding: Debt securities collateralized by residential real estate (a) Other assets $ — $ — $ 20.8 $ 20.8 Financial Services: Mortgage loans held for sale (b) Mortgage loans held for sale — 464.9 12.0 476.9 Derivatives not designated as hedging instruments (c): Interest rate lock commitments Other assets — 2.4 — 2.4 Forward sales of MBS Other liabilities — (1.9 ) — (1.9 ) Best-efforts and mandatory commitments Other liabilities — (0.1 ) — (0.1 ) Level 3 Assets at Fair Value for the Nine Months Ended June 30, 2015 Balance at Net realized and unrealized gains Purchases Sales and Settlements Net transfers in (out) of Level 3 Balance at (In millions) Debt securities collateralized by residential real estate (a) $ 20.8 $ — $ 14.8 $ — $ — $ 35.6 Mortgage loans held for sale (b) 12.0 0.3 — (1.7 ) 2.9 13.5 Level 3 Assets at Fair Value for the Nine Months Ended June 30, 2014 Balance at Net realized and unrealized gains Purchases Sales and Settlements Net transfers in (out) of Level 3 Balance at (In millions) Debt securities collateralized by residential real estate (a) $ 20.3 $ 0.5 $ — $ — $ — $ 20.8 Mortgage loans held for sale (b) 5.7 0.7 — (0.5 ) 3.4 9.3 (a) In October 2012, the Company purchased defaulted debt securities, which were secured by residential real estate, for $18.6 million in cash. In the three months ended June 30, 2015 , the Company purchased the residential real estate parcel and all additional defaulted debt securities associated with the parcel for $19.9 million in cash, of which $5.1 million was allocated to the land and $14.8 million was allocated to the debt securities. The Company plans to develop the property to build and sell homes and intends to sell the debt securities to a third party in the future. These securities, which are included in other assets in the consolidated balance sheets, are classified as available for sale and are reflected at fair value. The fair value of the securities was determined by estimating the expected proceeds upon their eventual sale. Unrealized gains or losses on these securities, net of tax, are recorded in accumulated other comprehensive income (loss) in the consolidated balance sheets. (b) Mortgage loans held for sale are reflected at fair value. Interest income earned on mortgage loans held for sale is based on contractual interest rates and included in financial services interest and other income. Mortgage loans held for sale at June 30, 2015 includes $13.5 million of originated loans for which the Company elected the fair value option upon origination and which the Company has not sold into the secondary market, but plans to sell as market conditions permit. The fair value of these mortgage loans held for sale is generally calculated considering the secondary market and adjusted for the value of the underlying collateral, including interest rate risk, liquidity risk and prepayment risk. (c) Fair value measurements of these derivatives represent changes in fair value, as calculated by reference to quoted prices for similar assets, and are reflected in the balance sheet. Changes in these fair values during the periods presented are included in financial services revenues in the consolidated statements of operations.
Fair value measurements of assets on a non-recurring basis	The following table summarizes the Company’s assets measured at fair value on a nonrecurring basis at June 30, 2015 and September 30, 2014 : Fair Value at Fair Value at Balance Sheet Location Level 3 Level 3 (In millions) Homebuilding: Inventory held and used (a) (b) Inventories $ 16.4 $ 19.2 Inventory available for sale (a) (c) Inventories 5.2 8.2 Financial Services: Other mortgage loans (a) (d) Other assets 13.8 16.0 Real estate owned (a) (d) Other assets 0.5 0.5 _______________________________________ (a) The fair values included in the table above represent only those assets whose carrying values were adjusted to fair value in the respective quarter. (b) In performing its impairment analysis of communities, discount rates ranging from 12% to 18% were used in the periods presented. (c) The fair value of inventory available for sale was determined based on recent offers received from outside third parties, comparable sales or actual contracts. (d) The fair values of other mortgage loans and real estate owned are determined based on the value of the underlying collateral.
Fair Value, by Balance Sheet Grouping [Table Text Block]	For the financial assets and liabilities that the Company does not reflect at fair value, the following tables present both their respective carrying value and fair value at June 30, 2015 and September 30, 2014 : Carrying Value Fair Value at June 30, 2015 Level 1 Level 2 Level 3 Total (In millions) Homebuilding: Cash and cash equivalents (a) $ 766.7 $ 766.7 $ — $ — $ 766.7 Restricted cash (a) 11.7 11.7 — — 11.7 Senior notes (b) 3,342.7 — 3,393.8 — 3,393.8 Other secured notes (a) 30.4 — — 30.4 30.4 Financial Services: Cash and cash equivalents (a) 38.9 38.9 — — 38.9 Mortgage repurchase facility (a) 448.0 — — 448.0 448.0 Carrying Value Fair Value at September 30, 2014 Level 1 Level 2 Level 3 Total (In millions) Homebuilding: Cash and cash equivalents (a) $ 632.5 $ 632.5 $ — $ — $ 632.5 Restricted cash (a) 10.0 10.0 — — 10.0 Revolving credit facility (a) 300.0 — — 300.0 300.0 Senior notes (b) 3,000.2 — 3,033.8 — 3,033.8 Other secured notes (a) 23.4 — — 23.4 23.4 Financial Services: Cash and cash equivalents (a) 29.3 29.3 — — 29.3 Mortgage repurchase facility (a) 359.2 — — 359.2 359.2 _______________________________________ (a) The fair value approximates carrying value due to its short-term nature, short maturity or floating interest rate terms, as applicable. (b) The fair value is determined based on quoted market prices of recent transactions of the notes, which is classified as Level 2 within the fair value hierarchy.

Supplemental Guarantor Inform28

Supplemental Guarantor Information (Tables)	9 Months Ended
	Jun. 30, 2015
Supplemental Guarantor Information [Abstract]
Condensed Financial Statements	Consolidating Balance Sheet June 30, 2015 D.R. Horton, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total (In millions) ASSETS Cash and cash equivalents $ 616.5 $ 103.7 $ 85.4 $ — $ 805.6 Restricted cash 8.1 2.5 1.1 — 11.7 Investments in subsidiaries 3,302.2 — — (3,302.2 ) — Inventories 2,683.5 5,402.1 25.6 — 8,111.2 Deferred income taxes 172.7 360.9 10.7 — 544.3 Property and equipment, net 56.2 52.4 90.7 — 199.3 Other assets 189.5 238.6 97.9 — 526.0 Mortgage loans held for sale — — 568.4 — 568.4 Goodwill — 97.0 — — 97.0 Intercompany receivables 2,373.8 — — (2,373.8 ) — Total Assets $ 9,402.5 $ 6,257.2 $ 879.8 $ (5,676.0 ) $ 10,863.5 LIABILITIES & EQUITY Accounts payable and other liabilities $ 428.6 $ 857.7 $ 125.1 $ — $ 1,411.4 Intercompany payables — 2,254.3 119.5 (2,373.8 ) — Notes payable 3,344.3 10.7 466.1 — 3,821.1 Total Liabilities 3,772.9 3,122.7 710.7 (2,373.8 ) 5,232.5 Total stockholders’ equity 5,629.6 3,134.5 167.7 (3,302.2 ) 5,629.6 Noncontrolling interests — — 1.4 — 1.4 Total Equity 5,629.6 3,134.5 169.1 (3,302.2 ) 5,631.0 Total Liabilities & Equity $ 9,402.5 $ 6,257.2 $ 879.8 $ (5,676.0 ) $ 10,863.5 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 June 30, 2015 D.R. Horton, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total (In millions) Homebuilding: Revenues $ 890.5 $ 1,985.9 $ — $ — $ 2,876.4 Cost of sales 718.0 1,601.0 1.4 — 2,320.4 Gross profit (loss) 172.5 384.9 (1.4 ) — 556.0 Selling, general and administrative expense 116.2 135.5 6.1 — 257.8 Equity in (income) of subsidiaries (277.1 ) — — 277.1 — Other (income) (0.4 ) (0.6 ) (2.9 ) — (3.9 ) Homebuilding pre-tax income (loss) 333.8 250.0 (4.6 ) (277.1 ) 302.1 Financial Services: Revenues — — 74.4 — 74.4 General and administrative expense — — 46.0 — 46.0 Interest and other (income) — — (3.3 ) — (3.3 ) Financial services pre-tax income — — 31.7 — 31.7 Income before income taxes 333.8 250.0 27.1 (277.1 ) 333.8 Income tax expense 112.4 83.0 10.3 (93.3 ) 112.4 Net income $ 221.4 $ 167.0 $ 16.8 $ (183.8 ) $ 221.4 Comprehensive income $ 221.4 $ 167.0 $ 16.8 $ (183.8 ) $ 221.4 NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Nine Months Ended June 30, 2015 D.R. Guarantor Non-Guarantor Eliminations Total (In millions) Homebuilding: Revenues $ 2,314.4 $ 5,153.6 $ — $ — $ 7,468.0 Cost of sales 1,865.6 4,156.0 5.3 — 6,026.9 Gross profit (loss) 448.8 997.6 (5.3 ) — 1,441.1 Selling, general and administrative expense 338.9 381.0 18.3 — 738.2 Equity in (income) of subsidiaries (673.4 ) — — 673.4 — Other (income) (1.3 ) (3.1 ) (9.5 ) — (13.9 ) Homebuilding pre-tax income (loss) 784.6 619.7 (14.1 ) (673.4 ) 716.8 Financial Services: Revenues — — 183.6 — 183.6 General and administrative expense — — 124.6 — 124.6 Interest and other (income) — — (8.8 ) — (8.8 ) Financial services pre-tax income — — 67.8 — 67.8 Income before income taxes 784.6 619.7 53.7 (673.4 ) 784.6 Income tax expense 272.8 213.9 20.6 (234.5 ) 272.8 Net income $ 511.8 $ 405.8 $ 33.1 $ (438.9 ) $ 511.8 Comprehensive income $ 511.8 $ 405.8 $ 33.1 $ (438.9 ) $ 511.8 NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Three Months Ended June 30, 2014 D.R. Horton, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total (In millions) Homebuilding: Revenues $ 653.8 $ 1,445.5 $ 3.6 $ — $ 2,102.9 Cost of sales 523.2 1,198.8 3.5 — 1,725.5 Gross profit 130.6 246.7 0.1 — 377.4 Selling, general and administrative expense 102.3 116.0 3.6 — 221.9 Equity in (income) of subsidiaries (143.2 ) — — 143.2 — Other (income) (0.3 ) (0.9 ) (1.9 ) — (3.1 ) Homebuilding pre-tax income (loss) 171.8 131.6 (1.6 ) (143.2 ) 158.6 Financial Services: Revenues — — 44.1 — 44.1 General and administrative expense — — 33.8 — 33.8 Interest and other (income) — — (2.9 ) — (2.9 ) Financial services pre-tax income — — 13.2 — 13.2 Income before income taxes 171.8 131.6 11.6 (143.2 ) 171.8 Income tax expense 58.7 44.9 4.1 (49.0 ) 58.7 Net income $ 113.1 $ 86.7 $ 7.5 $ (94.2 ) $ 113.1 Comprehensive income $ 113.1 $ 86.7 $ 7.5 $ (94.2 ) $ 113.1 NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Operations Nine Months Ended June 30, 2014 D.R. Guarantor Non-Guarantor Eliminations Total (In millions) Homebuilding: Revenues $ 1,780.0 $ 3,645.4 $ 9.7 $ — $ 5,435.1 Cost of sales 1,406.1 2,903.3 9.5 — 4,318.9 Gross profit 373.9 742.1 0.2 — 1,116.2 Selling, general and administrative expense 279.4 306.0 7.8 — 593.2 Equity in (income) of subsidiaries (467.8 ) — — 467.8 — Other (income) (1.1 ) (2.8 ) (5.3 ) — (9.2 ) Homebuilding pre-tax income (loss) 563.4 438.9 (2.3 ) (467.8 ) 532.2 Financial Services: Revenues — — 117.4 — 117.4 General and administrative expense — — 93.7 — 93.7 Interest and other (income) — — (7.5 ) — (7.5 ) Financial services pre-tax income — — 31.2 — 31.2 Income before income taxes 563.4 438.9 28.9 (467.8 ) 563.4 Income tax expense 196.1 152.8 10.1 (162.9 ) 196.1 Net income $ 367.3 $ 286.1 $ 18.8 $ (304.9 ) $ 367.3 Comprehensive income $ 367.3 $ 286.4 $ 18.8 $ (304.9 ) $ 367.6 NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Nine Months Ended June 30, 2015 D.R. Horton, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total (In millions) OPERATING ACTIVITIES Net cash provided by (used in) operating activities $ 164.7 $ 127.1 $ (88.2 ) $ (15.0 ) $ 188.6 INVESTING ACTIVITIES Purchases of property and equipment (21.4 ) (18.2 ) (3.7 ) — (43.3 ) Increase in restricted cash (1.2 ) (0.5 ) — — (1.7 ) Net principal increase of other mortgage loans and real estate owned — — (6.3 ) — (6.3 ) Intercompany advances 58.8 — — (58.8 ) — Purchases of debt securities collateralized by residential real estate (14.8 ) — — — (14.8 ) Payments related to acquisition of a business (68.7 ) — — — (68.7 ) Net cash used in investing activities (47.3 ) (18.7 ) (10.0 ) (58.8 ) (134.8 ) FINANCING ACTIVITIES Proceeds from notes payable 1,472.0 — 88.8 — 1,560.8 Repayment of notes payable (1,433.0 ) (0.3 ) (0.2 ) — (1,433.5 ) Intercompany advances — (93.9 ) 35.1 58.8 — Proceeds from stock associated with certain employee benefit plans 24.0 — — — 24.0 Excess income tax benefit from employee stock awards 7.3 — — — 7.3 Cash dividends paid (68.6 ) — (15.0 ) 15.0 (68.6 ) Net cash provided by (used in) financing activities 1.7 (94.2 ) 108.7 73.8 90.0 Increase in cash and cash equivalents 119.1 14.2 10.5 — 143.8 Cash and cash equivalents at beginning of period 497.4 89.5 74.9 — 661.8 Cash and cash equivalents at end of period $ 616.5 $ 103.7 $ 85.4 $ — $ 805.6 NOTE N – SUPPLEMENTAL GUARANTOR INFORMATION - (Continued) Consolidating Statement of Cash Flows Nine Months Ended June 30, 2014 D.R. Horton, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total (In millions) OPERATING ACTIVITIES Net cash (used in) provided by operating activities $ (259.5 ) $ (281.7 ) $ 7.5 $ (40.0 ) $ (573.7 ) INVESTING ACTIVITIES Purchases of property and equipment (17.9 ) (23.7 ) (8.3 ) — (49.9 ) Decrease (increase) in restricted cash 58.2 (0.6 ) 0.1 — 57.7 Net principal increase of other mortgage loans and real estate owned — — (2.8 ) — (2.8 ) Intercompany advances (329.0 ) — — 329.0 — Payments related to acquisition of a business (222.7 ) — — — (222.7 ) Net cash used in investing activities (511.4 ) (24.3 ) (11.0 ) 329.0 (217.7 ) FINANCING ACTIVITIES Proceeds from notes payable 622.0 — 64.3 — 686.3 Repayment of notes payable (273.9 ) — — — (273.9 ) Intercompany advances — 332.7 (3.7 ) (329.0 ) — Proceeds from stock associated with certain employee benefit plans 43.1 — — — 43.1 Excess income tax benefit from employee stock awards 1.6 — — — 1.6 Cash dividends paid (25.8 ) — (40.0 ) 40.0 (25.8 ) Net cash provided by financing activities 367.0 332.7 20.6 (289.0 ) 431.3 (Decrease) increase in cash and cash equivalents (403.9 ) 26.7 17.1 — (360.1 ) Cash and cash equivalents at beginning of period 871.4 38.4 67.6 — 977.4 Cash and cash equivalents at end of period $ 467.5 $ 65.1 $ 84.7 $ — $ 617.3

Basis of Presentation (Details)

Basis of Presentation (Details) number in Millions, $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Sep. 30, 2013USD ($)	Apr. 24, 2015LotHome	Sep. 30, 2014USD ($)
Business Information [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 805.6	$ 617.3	$ 805.6	$ 617.3	$ 977.4		$ 661.8
Business Acquisition, Date of Acquisition Agreement	Apr. 24, 2015
Payments to Acquire Businesses, Net of Cash Acquired	$ 70.9		68.7	222.7
Payments for Previous Acquisition			2	$ 21.4
Business Acquisition, Number of Homes Acquired | Home						90
Business Acquisition, Number of Finished Lots | Lot						350
Business Acquisition, Number of Lots Under Option Contracts | Lot						400
Business Acquisition, Sales Order Backlog Acquired (Homes) | Home						42
Business Acquisition, Sales Order Backlog Acquired (Value)						18.7
Homebuilding [Member]
Business Information [Line Items]
Earnest Money Deposits	67.9		67.9
Cash and Cash Equivalents, at Carrying Value	766.7		766.7				632.5
Homebuilding [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Business Information [Line Items]
Earnest Money Deposits	64.2		64.2				55.7
Cash and Cash Equivalents [Member]
Business Information [Line Items]
Prior Period Reclassification Adjustment		$ 42.3			$ 40.9
Subsidiaries [Member]
Business Information [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 40.2		$ 40.2				$ 43.3

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2014
Homebuilding revenues:
Consolidated revenues		$ 2,950.8	$ 2,147	$ 7,651.6	$ 5,552.5
Income (Loss) before Income Taxes
Income (loss) before income taxes	[1]	333.8	171.8	784.6	563.4
Homebuilding [Member]
Homebuilding revenues:
Total homebuilding revenues		2,876.4	2,102.9	7,468	5,435.1
Asset Impairment Charges [Abstract]
Inventory Write-down		11.7	54.7	23.6	57
Income (Loss) before Income Taxes
Income (loss) before income taxes	[1]	302.1	158.6	716.8	532.2
Homebuilding inventories
Total homebuilding inventory	[2]	8,111.2		8,111.2		$ 7,700.5
Financial Services [Member]
Homebuilding revenues:
Financial Services Revenue		74.4	44.1	183.6	117.4
Income (Loss) before Income Taxes
Income (loss) before income taxes	[1]	31.7	13.2	67.8	31.2
East [Member] | Homebuilding [Member]
Homebuilding revenues:
Total homebuilding revenues		367.4	251.3	946.9	644.6
Asset Impairment Charges [Abstract]
Inventory Write-down		2.1	2	2.1	2
Income (Loss) before Income Taxes
Income (loss) before income taxes	[1]	30.3	13.3	69.7	39
Homebuilding inventories
Total homebuilding inventory	[2]	855.1		855.1		842.7
Midwest [Member] | Homebuilding [Member]
Homebuilding revenues:
Total homebuilding revenues		205.4	133.1	480.3	338.8
Asset Impairment Charges [Abstract]
Inventory Write-down		0	48.8	0	48.8
Income (Loss) before Income Taxes
Income (loss) before income taxes	[1]	21.5	(37.2)	36.5	(18.1)
Homebuilding inventories
Total homebuilding inventory	[2]	485.1		485.1		477.6
Southeast [Member] | Homebuilding [Member]
Homebuilding revenues:
Total homebuilding revenues		775.5	584.4	2,041	1,503
Asset Impairment Charges [Abstract]
Inventory Write-down		1.4	0.7	8.7	2.8
Income (Loss) before Income Taxes
Income (loss) before income taxes	[1]	80.7	52.3	197.4	156
Homebuilding inventories
Total homebuilding inventory	[2]	1,966.5		1,966.5		1,943
South Central [Member] | Homebuilding [Member]
Homebuilding revenues:
Total homebuilding revenues		715.1	533.3	1,923.1	1,384.9
Asset Impairment Charges [Abstract]
Inventory Write-down		0.8	0	1.4	0
Income (Loss) before Income Taxes
Income (loss) before income taxes	[1]	78.9	54	205.1	143
Homebuilding inventories
Total homebuilding inventory	[2]	1,962.2		1,962.2		1,742.5
Southwest [Member] | Homebuilding [Member]
Homebuilding revenues:
Total homebuilding revenues		96.7	74.1	243	207.8
Asset Impairment Charges [Abstract]
Inventory Write-down		0	0	0	0
Income (Loss) before Income Taxes
Income (loss) before income taxes	[1]	5.2	8.2	8.3	19.7
Homebuilding inventories
Total homebuilding inventory	[2]	280		280		292.9
West [Member] | Homebuilding [Member]
Homebuilding revenues:
Total homebuilding revenues		716.3	526.7	1,833.7	1,356
Asset Impairment Charges [Abstract]
Inventory Write-down		7.4	3.2	11.4	3.4
Income (Loss) before Income Taxes
Income (loss) before income taxes	[1]	85.5	$ 68	199.8	$ 192.6
Homebuilding inventories
Total homebuilding inventory	[2]	2,307.4		2,307.4		2,169.4
Corporate and Unallocated [Member] | Homebuilding [Member]
Homebuilding inventories
Total homebuilding inventory	[2],[3]	$ 254.9		$ 254.9		$ 232.4
[1]	Expenses maintained at the corporate level consist primarily of interest and property taxes, which are capitalized and amortized to cost of sales or expensed directly, and the expenses related to operating the Company’s corporate office. The amortization of capitalized interest and property taxes is allocated to each segment based on the segment’s cost of sales, while those expenses associated with the corporate office are allocated to each segment based on the segment’s inventory balances.
[2]	Homebuilding inventories are the only assets included in the measure of homebuilding segment assets used by the Company’s chief operating decision makers.
[3]	Corporate and unallocated consists primarily of capitalized interest and property taxes.

Segment Information (Details Te

Segment Information (Details Textual) - Jun. 30, 2015 - Homebuilding [Member]	MarketStateSegmentsOperatingDivisions
Segment information [Abstract]
Number Of Home Building Operating Divisions	39
Number Of Homebuilding Reporting Segments | Segments	6
Number Of Housing Construction States | State	27
Number Of Housing Construction Markets | Market	79

Inventory Impairments and Lan32

Inventory Impairments and Land Option Cost Write-Offs (Details) - Homebuilding [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Inventory Impairments and Land Option Cost Write Offs [Abstract]
Carrying value of communities with impairment indicators	$ 390.2		$ 390.2
Impairment charges	11.7	$ 54.7	23.6	$ 57
Write-offs (recoveries) of earnest money deposits and pre-acquisition costs	3.7	2.1	10.4	6.9
West [Member]
Inventory Impairments and Land Option Cost Write Offs [Abstract]
Impairment charges	$ 7.4	$ 3.2	$ 11.4	$ 3.4

Notes Payable (Details)

Notes Payable (Details) - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Unsecured:
Notes payable	$ 3,821.1	$ 3,682.8
Homebuilding [Member]
Unsecured:
Notes payable	3,373.1	3,323.6
Financial Services [Member]
Unsecured:
Assets Sold under Agreements to Repurchase, Repurchase Liability	$ 448	359.2
Senior Note Seven [Member] | Homebuilding [Member]
Unsecured:
Stated interest rate	5.25%
Senior Note Twenty Six [Member] | Homebuilding [Member]
Unsecured:
Stated interest rate	3.625%
Senior Note Eight [Member] | Homebuilding [Member]
Unsecured:
Stated interest rate	5.625%
Senior Note Nine [Member] | Homebuilding [Member]
Unsecured:
Stated interest rate	6.50%
Senior Note Twenty Four [Member] | Homebuilding [Member]
Unsecured:
Stated interest rate	4.75%
Senior Note Twenty Nine [Member] | Homebuilding [Member]
Unsecured:
Stated interest rate	3.75%
Senior Note Member Thirty [Member] | Homebuilding [Member]
Unsecured:
Stated interest rate	4.00%
Senior Note Member Twenty Five [Member] | Homebuilding [Member]
Unsecured:
Stated interest rate	4.375%
Senior Note Twenty Seven [Member] | Homebuilding [Member]
Unsecured:
Stated interest rate	4.75%
SeniorNoteTwentyEight [Member] | Homebuilding [Member]
Unsecured:
Stated interest rate	5.75%
Unsecured Debt [Member] | Senior Note Seven [Member] | Homebuilding [Member]
Unsecured:
Notes payable	$ 0	157.7
Unsecured Debt [Member] | Senior Note Twenty Six [Member] | Homebuilding [Member]
Unsecured:
Notes payable	400	400
Unsecured Debt [Member] | Senior Note Eight [Member] | Homebuilding [Member]
Unsecured:
Notes payable	170	169.9
Unsecured Debt [Member] | Senior Note Nine [Member] | Homebuilding [Member]
Unsecured:
Notes payable	372.7	372.6
Unsecured Debt [Member] | Senior Note Twenty Four [Member] | Homebuilding [Member]
Unsecured:
Notes payable	350	350
Unsecured Debt [Member] | Senior Note Twenty Nine [Member] | Homebuilding [Member]
Unsecured:
Notes payable	500	500
Unsecured Debt [Member] | Senior Note Member Thirty [Member] | Homebuilding [Member]
Unsecured:
Notes payable	500	0
Unsecured Debt [Member] | Senior Note Member Twenty Five [Member] | Homebuilding [Member]
Unsecured:
Notes payable	350	350
Unsecured Debt [Member] | Senior Note Twenty Seven [Member] | Homebuilding [Member]
Unsecured:
Notes payable	300	300
Unsecured Debt [Member] | SeniorNoteTwentyEight [Member] | Homebuilding [Member]
Unsecured:
Notes payable	400	400
Line of Credit [Member] | Homebuilding [Member]
Unsecured:
Line of Credit Facility, Amount Outstanding	0	300
Secured Debt [Member] | Homebuilding [Member]
Unsecured:
Notes payable	$ 30.4	$ 23.4

Notes Payable (Details Textual)

Notes Payable (Details Textual) - USD ($)	Aug. 01, 2014	Jul. 31, 2015	Mar. 31, 2015	Jun. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount				$ 97,400,000
Homebuilding [Member]
Debt Instrument [Line Items]
Authorized repurchase of debt securities	$ 500,000,000
Debt repurchase program, remaining authorized repurchase amount				$ 500,000,000
Homebuilding [Member] | Senior Note Member Thirty [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				4.00%
Homebuilding [Member] | Senior Note Seven [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				5.25%
Homebuilding [Member] | 3.75% senior notes due 2019 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				3.75%
Homebuilding [Member] | Senior Note Eight [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				5.625%
Homebuilding [Member] | Senior Note Nine [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.50%
Homebuilding [Member] | Senior Note Twenty Four [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				4.75%
Homebuilding [Member] | Senior Note Twenty Six [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				3.625%
Homebuilding [Member] | Senior Note Twenty Seven [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				4.75%
Homebuilding [Member] | SeniorNoteTwentyEight [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				5.75%
Financial Services [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity				$ 400,000,000
Line of Credit Facility, Maximum Borrowing Capacity				550,000,000
Line of credit facility additional borrowing capacity				450,000,000
Mortgage loans held for sale pledged under repurchase agreement				518,400,000
Mortgage loans, collateral value				501,200,000
Advance pay downs on mortgage repurchase facility				53,200,000
Assets Sold under Agreements to Repurchase, Repurchase Liability				$ 448,000,000	$ 359,200,000
Interest rate on mortgage repurchase facility				2.40%
Line of Credit [Member] | Homebuilding [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity				$ 975,000,000
Line of Credit Facility, Maximum Borrowing Capacity				1,250,000,000
Letter of Credit, Maximum Borrowing Capacity				0.50
Line of Credit Facility, Amount Outstanding				0	$ 300,000,000
Letters of Credit Outstanding, Amount				$ 94,300,000
Unsecured Debt [Member] | Homebuilding [Member] | Senior Note Member Thirty [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 500,000,000
Debt Instrument, Interest Rate, Effective Percentage			4.20%
Unsecured Debt [Member] | Homebuilding [Member] | Senior Note Seven [Member]
Debt Instrument [Line Items]
Maturities of Senior Debt			$ 157,700,000
Scenario, Forecast [Member] | Homebuilding [Member]
Debt Instrument [Line Items]
Authorized repurchase of debt securities		$ 500,000,000

Capitalized Interest (Details)

Capitalized Interest (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Rollforward of capitalized interest
Capitalized interest, beginning of period		$ 212.2	$ 183.7	$ 198.5	$ 137.1
Interest incurred	[1]	43.2	45.1	126.2	144
Interest expensed:
Amortized to cost of sales		(42.7)	(34.2)	(111.9)	(86.5)
Capitalized Interest Costs Written Off With Inventory Impairments		(0.1)	(1.1)	(0.2)	(1.1)
Capitalized interest, end of period		212.6	193.5	212.6	193.5
Financial Services [Member]
Rollforward of capitalized interest
Interest incurred		$ 2.1	$ 1.2	$ 5.2	$ 3
[1]	Interest incurred includes interest incurred on the Company's financial services mortgage repurchase facility of $2.1 million and $5.2 million in the three and nine months ended June 30, 2015, respectively, and $1.2 million and $3.0 million in the same periods of 2014.

Mortgage Loans (Details)

Mortgage Loans (Details) - Financial Services [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2014
Loans Receivable [Line Items]
Mortgage loans held for sale	$ 568.4		$ 568.4		$ 476.9
Principal Amount Outstanding on Loans Held-for-sale or Securitization or Asset-backed Financing Arrangement	557.5		557.5		466.6
Payments for Origination of Mortgage Loans Held-for-sale			3,600	$ 2,600
Net gain on sales of loans	52.2	$ 26.6	$ 125.7	71
Concentration Risk, Percentage			84.00%
Percentage Of Mortgage Loans Sold To Major Purchasers			43.00%
Proceeds from Sale of Mortgage Loans Held-for-sale			$ 3,500	$ 2,500
Mortgage Loans on Real Estate	46.5		46.5		41
Real Estate Acquired Through Foreclosure	0.8		0.8		0.7
Other Real Estate, Foreclosed Assets, and Repossessed Assets	47.3		47.3		41.7
Uncommitted Loans [Member]
Loans Receivable [Line Items]
Mortgage loans held for sale	328.5		328.5		348.6
Hedging Instruments related to IRLCs [Member]
Loans Receivable [Line Items]
Notional amounts of hedging instruments, Total	$ 327		$ 327		$ 348.2

Mortgage Loans (Details 1)

Mortgage Loans (Details 1) - Financial Services [Member] - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Loans and Leases Receivable, Allowance [Abstract]
Mortgage Loans on Real Estate	$ 46.5	$ 41
Real Estate Acquired Through Foreclosure	0.8	0.7
Other Real Estate, Foreclosed Assets, and Repossessed Assets	47.3	41.7
Schedule of mortgage loss reserves
Loans and Leases Receivable, Allowance	19.6	26.2
Mortgage Loans on Real Estate [Member]
Schedule of mortgage loss reserves
Loans and Leases Receivable, Allowance	1.6	1.7
Real Estate [Member]
Schedule of mortgage loss reserves
Loans and Leases Receivable, Allowance	0.1	0.1
Obligation to Repurchase Receivables Sold [Member]
Schedule of mortgage loss reserves
Loans and Leases Receivable, Allowance	$ 17.9	$ 24.4

Mortgage Loans (Details Textual

Mortgage Loans (Details Textual) - Financial Services [Member] - USD ($) $ in Millions	Jun. 30, 2015	Sep. 30, 2014
Interest rate lock commitments [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 492.9	$ 303.2
Best-efforts and mandatory commitments [Member]
Derivative [Line Items]
Derivative, Notional Amount	64.8	28.2
Hedging Instruments related to IRLCs [Member]
Derivative [Line Items]
Derivative Asset, Notional Amount	327	348.2
Derivative, Notional Amount	$ 376	$ 243.8

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2014
Income Tax Disclosures [Line Items]
Income tax expense (benefit)	$ 112.4	$ 58.7	$ 272.8	$ 196.1
Effective Income Tax Rate Reconciliation, Percent	33.70%	34.20%	34.80%	34.80%
Deferred tax assets net of DTL	$ 574.4		$ 574.4		$ 596.1
Deferred Tax Assets, Valuation Allowance	$ 30.1		$ 30.1		$ 31.1

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Number of shares excluded from computation of earnings per share			8.6	9.1
Earnings Per Share Reconciliation [Abstract]
Net income	$ 221.4	$ 113.1	$ 511.8	$ 367.3
Interest expense and amortization of issuance costs associated with convertible senior notes	0	2.8	0	16.5
Numerator for diluted earnings per share after assumed conversions	$ 221.4	$ 115.9	$ 511.8	$ 383.8
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Denominator for basic earnings per share - weighted average common shares	366.8	349.7	365.9	332.4
Employee stock awards	3.5	3.2	3.4	3.1
Incremental Common Shares Attributable to Conversion of Debt Securities	0	14.9	0	30.7
Denominator for diluted earnings per share - adjusted weighted average common shares	370.3	367.8	369.3	366.2
Earnings Per Share, Basic	$ 0.60	$ 0.32	$ 1.40	$ 1.10
Earnings Per Share, Diluted	$ 0.60	$ 0.32	$ 1.39	$ 1.05

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jul. 23, 2015	Aug. 01, 2014
Dividends, Common Stock [Abstract]
Cash dividends declared per common share (in dollars per share)		$ 0.0625	$ 0.0375	$ 0.1875	$ 0.0750
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Amount remaining under stock repurchase authorization		$ 100		$ 100
Amount of stock repurchase authorization							$ 100
Scenario, Forecast [Member]
Dividends, Common Stock [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.0625
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Amount of stock repurchase authorization						$ 100

Employee Benefit Plans (Details

Employee Benefit Plans (Details) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2015$ / sharesshares	Jun. 30, 2015USD ($)	Dec. 31, 2014$ / sharesshares	Jun. 30, 2015USD ($)
Performance Shares [Member] | November Two Thousand Fourteen Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares			290,000
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Units Vesting Upon Achieving Performance Criteria Range Low			0.00%
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Units Vesting Upon Achieving Performance Criteria Range High			200.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 23.62
Allocated Share-based Compensation Expense | $		$ 0.7		$ 2
Restricted Stock Units (RSUs) [Member] | November Two Thousand Fourteen Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares			30,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 21.88
Allocated Share-based Compensation Expense | $				0.1
Restricted Stock Units (RSUs) [Member] | March Two Thousand Fifteen Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares	2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 26.09
Allocated Share-based Compensation Expense | $		$ 2.5		$ 6.3
RSU Grant Recipients	570

Commitments and Contingencies43

Commitments and Contingencies (Details) - Homebuilding [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Changes in warranty liability
Warranty liability, beginning of period	$ 71.6	$ 57.3	$ 65.7	$ 56.9
Warranties issued	12.9	9.2	33.3	23.9
Changes in liability for pre-existing warranties	2.3	3.3	3	5.4
Settlements made	(9.4)	(8.5)	(24.6)	(24.9)
Warranty liability, end of period	$ 77.4	$ 61.3	$ 77.4	$ 61.3

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details 1) - Homebuilding [Member] - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Rollforward of reserves for legal claims
Reserves for legal claims, beginning of period	$ 456.9	$ 482
Increase (decrease) in reserve	31.2	(5.7)
Payments	(37.4)	(18.7)
Reserves for legal claims, end of period	$ 450.7	$ 457.6

Commitments and Contingencies45

Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2014	Sep. 30, 2013
Commitments and Contingencies [Abstract]
Surety Bonds	$ 999.7
Outstanding letters of credit	97.4
Homebuilding [Member]
Commitments and Contingencies [Abstract]
Liabilities for various claims, complaints and other legal actions	450.7	$ 457.6	$ 456.9	$ 482
Expenses related to legal claims	32.5	15.5
Estimated insurance recoveries related to legal claims	129.6	$ 135.8	$ 138.4
Earnest Money Deposits	67.9
Remaining purchase price of land under option contracts	$ 2,000
Construction defect portion of loss contingency accrual	99.00%		99.00%
Cash Deposits [Member] | Homebuilding [Member]
Commitments and Contingencies [Abstract]
Earnest Money Deposits	$ 59.9
Promissory Notes and Surety Bonds [Member] | Homebuilding [Member]
Commitments and Contingencies [Abstract]
Earnest Money Deposits	8
Line of Credit [Member] | Homebuilding [Member]
Commitments and Contingencies [Abstract]
Outstanding letters of credit	94.3
Letter of Credit Two [Member]
Commitments and Contingencies [Abstract]
Outstanding letters of credit	3.1
Option Contracts Subject to Specific Performance Clauses [Member] | Homebuilding [Member]
Commitments and Contingencies [Abstract]
Remaining purchase price of land under option contracts	$ 31.1

Other Assets and Accrued Expe46

Other Assets and Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2013
Homebuilding other assets
Homebuilding other assets	$ 526		$ 502.7
Homebuilding [Member]
Homebuilding other assets
Insurance receivables	129.6		138.4	$ 135.8
Earnest money and refundable deposits	119.3		113.3
Accounts and notes receivable	40		38.6
Prepaid assets	46.9		55.4
Rental Properties	49.5		48.7
Other Investments	35.6		20.8
Other assets	24.5		25.9
Homebuilding other assets	445.4		441.1
Homebuilding accrued expenses and other liabilities
Construction defect and other litigation liabilities	450.7		456.9	457.6		$ 482
Employee compensation and related liabilities	152.9		150.8
Warranty liability	77.4	$ 71.6	65.7	$ 61.3	$ 57.3	$ 56.9
Accrued interest	49.7		29.1
Federal and state income tax liabilities	38.1		12.8
Construction Payable	28.5		36.1
Customer Deposits, Current	58.9		49.5
Accrual for Taxes Other than Income Taxes, Current	22		29.1
Other liabilities	31		45
Homebuilding accrued expenses and other liabilities	$ 909.2		$ 875

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions		Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2013
Homebuilding [Member]
Fair value balance sheet items measured on a recurring basis
Other Investments		$ 35.6	$ 20.8
Homebuilding [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value balance sheet items measured on a recurring basis
Other Investments	[1]	0	0
Homebuilding [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value balance sheet items measured on a recurring basis
Other Investments	[1]	0	0
Homebuilding [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value balance sheet items measured on a recurring basis
Other Investments	[1]	35.6	20.8	$ 20.8	$ 20.3
Homebuilding [Member] | Estimated Fair Value [Member] | Fair Value, Measurements, Recurring [Member]
Fair value balance sheet items measured on a recurring basis
Other Investments	[1]	35.6	20.8
Financial Services [Member]
Fair value balance sheet items measured on a recurring basis
Mortgage loans held for sale		568.4	476.9
Financial Services [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value balance sheet items measured on a recurring basis
Mortgage loans held for sale	[2]	0	0
Financial Services [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Interest rate lock commitments [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	0	0
Financial Services [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Forward sales of MBS [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	0	0
Financial Services [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Best-efforts and mandatory commitments [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	0	0
Financial Services [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value balance sheet items measured on a recurring basis
Mortgage loans held for sale	[2]	554.9	464.9
Financial Services [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Interest rate lock commitments [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	1.7	2.4
Financial Services [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Forward sales of MBS [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	2.6	(1.9)
Financial Services [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Best-efforts and mandatory commitments [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	0.4	(0.1)
Financial Services [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value balance sheet items measured on a recurring basis
Mortgage loans held for sale	[2]	13.5	12	$ 9.3	$ 5.7
Financial Services [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Interest rate lock commitments [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	0	0
Financial Services [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Forward sales of MBS [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	0	0
Financial Services [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Best-efforts and mandatory commitments [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	0	0
Financial Services [Member] | Estimated Fair Value [Member] | Fair Value, Measurements, Recurring [Member]
Fair value balance sheet items measured on a recurring basis
Mortgage loans held for sale	[2]	568.4	476.9
Financial Services [Member] | Estimated Fair Value [Member] | Fair Value, Measurements, Recurring [Member] | Interest rate lock commitments [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	1.7	2.4
Financial Services [Member] | Estimated Fair Value [Member] | Fair Value, Measurements, Recurring [Member] | Forward sales of MBS [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	2.6	(1.9)
Financial Services [Member] | Estimated Fair Value [Member] | Fair Value, Measurements, Recurring [Member] | Best-efforts and mandatory commitments [Member]
Fair value balance sheet items measured on a recurring basis
Fair value of interest rate derivatives	[3]	$ 0.4	$ (0.1)
[1]	In October 2012, the Company purchased defaulted debt securities, which were secured by residential real estate, for $18.6 million in cash. In the three months ended June 30, 2015, the Company purchased the residential real estate parcel and all additional defaulted debt securities associated with the parcel for $19.9 million in cash, of which $5.1 million was allocated to the land and $14.8 million was allocated to the debt securities. The Company plans to develop the property to build and sell homes and intends to sell the debt securities to a third party in the future. These securities, which are included in other assets in the consolidated balance sheets, are classified as available for sale and are reflected at fair value. The fair value of the securities was determined by estimating the expected proceeds upon their eventual sale. Unrealized gains or losses on these securities, net of tax, are recorded in accumulated other comprehensive income (loss) in the consolidated balance sheets.
[2]	Mortgage loans held for sale are reflected at fair value. Interest income earned on mortgage loans held for sale is based on contractual interest rates and included in financial services interest and other income. Mortgage loans held for sale at June 30, 2015 includes $13.5 million of originated loans for which the Company elected the fair value option upon origination and which the Company has not sold into the secondary market, but plans to sell as market conditions permit. The fair value of these mortgage loans held for sale is generally calculated considering the secondary market and adjusted for the value of the underlying collateral, including interest rate risk, liquidity risk and prepayment risk.
[3]	Fair value measurements of these derivatives represent changes in fair value, as calculated by reference to quoted prices for similar assets, and are reflected in the balance sheet. Changes in these fair values during the periods presented are included in financial services revenues in the consolidated statements of operations.

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements - Level 3 Rollforward (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Jun. 30, 2015	Dec. 31, 2012	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2014	Sep. 30, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Payments to Acquire Other Investments			$ 18.6	$ 14.8	$ 0
Payments to Acquire Land		$ 19.9
Homebuilding [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other Investments		35.6		35.6		$ 20.8
Homebuilding [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other Investments	[1]	35.6		35.6	20.8	20.8	$ 20.3
Financial Services [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Mortgage loans held for sale		568.4		568.4		476.9
Financial Services [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Mortgage loans held for sale	[2]	13.5		13.5	9.3	$ 12	$ 5.7
Land [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Payments to Acquire Land		5.1
Debt Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Payments to Acquire Land		$ 14.8
Debt Securities [Member] | Homebuilding [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings, Description	[1]			0	0.5
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]			14.8	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales				0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]			0	0
Loans Receivable [Member] | Financial Services [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings, Description	[2]			0.3	0.7
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[2]			0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[2]			(1.7)	(0.5)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]			$ 2.9	$ 3.4
[1]	In October 2012, the Company purchased defaulted debt securities, which were secured by residential real estate, for $18.6 million in cash. In the three months ended June 30, 2015, the Company purchased the residential real estate parcel and all additional defaulted debt securities associated with the parcel for $19.9 million in cash, of which $5.1 million was allocated to the land and $14.8 million was allocated to the debt securities. The Company plans to develop the property to build and sell homes and intends to sell the debt securities to a third party in the future. These securities, which are included in other assets in the consolidated balance sheets, are classified as available for sale and are reflected at fair value. The fair value of the securities was determined by estimating the expected proceeds upon their eventual sale. Unrealized gains or losses on these securities, net of tax, are recorded in accumulated other comprehensive income (loss) in the consolidated balance sheets.
[2]	Mortgage loans held for sale are reflected at fair value. Interest income earned on mortgage loans held for sale is based on contractual interest rates and included in financial services interest and other income. Mortgage loans held for sale at June 30, 2015 includes $13.5 million of originated loans for which the Company elected the fair value option upon origination and which the Company has not sold into the secondary market, but plans to sell as market conditions permit. The fair value of these mortgage loans held for sale is generally calculated considering the secondary market and adjusted for the value of the underlying collateral, including interest rate risk, liquidity risk and prepayment risk.

Fair Value Measurements (Deta49

Fair Value Measurements (Details 1) - USD ($) $ in Millions		3 Months Ended
		Jun. 30, 2015	Sep. 30, 2014
Financial Services [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real Estate Acquired Through Foreclosure		$ 0.8	$ 0.7
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Homebuilding [Member] | Inventories [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Nonrecurring	[1],[2]	16.4	19.2
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Homebuilding [Member] | Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Nonrecurring	[2],[3]	5.2	8.2
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Financial Services [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other mortgage loans	[2],[4]	13.8	16
Real Estate Acquired Through Foreclosure	[2],[4]	$ 0.5	$ 0.5
Inventories [Member] | Minimum [Member] | Homebuilding [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Inputs, Discount Rate		12.00%
Inventories [Member] | Maximum [Member] | Homebuilding [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Inputs, Discount Rate		18.00%
[1]	In performing its impairment analysis of communities, discount rates ranging from 12% to 18% were used in the periods presented.
[2]	The fair values included in the table above represent only those assets whose carrying values were adjusted to fair value in the respective quarter.
[3]	The fair value of inventory available for sale was determined based on recent offers received from outside third parties, comparable sales or actual contracts.
[4]	The fair values of other mortgage loans and real estate owned are determined based on the value of the underlying collateral.

Fair Value Measurements Fair 50

Fair Value Measurements Fair Value Measurement (Details 2) (Details) - USD ($) $ in Millions		Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, at Carrying Value		$ 805.6	$ 661.8	$ 617.3	$ 977.4
Notes Payable		3,821.1	3,682.8
Homebuilding [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, at Carrying Value		766.7	632.5
Restricted Cash and Cash Equivalents		11.7	10
Notes Payable		3,373.1	3,323.6
Homebuilding [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	[1]	766.7	632.5
Other Assets, Fair Value Disclosure	[1]	11.7	10
Homebuilding [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	[1]	766.7	632.5
Other Assets, Fair Value Disclosure	[1]	11.7	10
Financial Services [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, at Carrying Value		38.9	29.3
Financial Services [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	[1]	38.9	29.3
Financial Services [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure	[1]	448	359.2
Financial Services [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure	[1]	448	359.2
Cash and Cash Equivalents, Fair Value Disclosure	[1]	38.9	29.3
Line of Credit [Member] | Homebuilding [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Line of Credit Facility, Amount Outstanding		0	300
Line of Credit [Member] | Homebuilding [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Line of Credit Facility, Fair Value of Amount Outstanding			300
Line of Credit [Member] | Homebuilding [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Line of Credit Facility, Fair Value of Amount Outstanding			300
Senior Notes [Member] | Homebuilding [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable		3,342.7	3,000.2
Senior Notes [Member] | Homebuilding [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[2]	3,393.8	3,033.8
Senior Notes [Member] | Homebuilding [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[2]	3,393.8	3,033.8
Secured Debt [Member] | Homebuilding [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable		30.4	23.4
Secured Debt [Member] | Homebuilding [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[2]	30.4	23.4
Secured Debt [Member] | Homebuilding [Member] | Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure	[2]	$ 30.4	$ 23.4
[1]	The fair value approximates carrying value due to its short-term nature, short maturity or floating interest rate terms, as applicable.
[2]	The fair value is determined based on quoted market prices of recent transactions of the notes, which is classified as Level 2 within the fair value hierarchy.

Supplemental Guarantor Inform51

Supplemental Guarantor Information (Details) - USD ($) $ in Millions		Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2013
ASSETS
Cash and cash equivalents		$ 805.6	$ 661.8	$ 617.3	$ 977.4
Investments in subsidiaries		0	0
Other assets		526	502.7
Advances to Affiliate		0	0
Total assets		10,863.5	10,202.5
LIABILITIES & EQUITY
Accounts payable and other liabilities		1,411.4	1,400
Intercompany payables		0	0
Notes payable		3,821.1	3,682.8
Total liabilities		5,232.5	5,082.8
Total stockholders' equity		5,629.6	5,115.8
Noncontrolling interests		1.4	3.9
Total equity		5,631	5,119.7
Total liabilities and equity		10,863.5	10,202.5
D.R. Horton, Inc. [Member]
ASSETS
Cash and cash equivalents		616.5	497.4	467.5	871.4
Investments in subsidiaries		3,302.2	2,878.2
Other assets		189.5	163
Advances to Affiliate		2,373.8	2,364.2
Total assets		9,402.5	8,827.3
LIABILITIES & EQUITY
Accounts payable and other liabilities		428.6	409.8
Intercompany payables		0	0
Notes payable		3,344.3	3,301.7
Total liabilities		3,772.9	3,711.5
Total stockholders' equity		5,629.6	5,115.8
Noncontrolling interests		0	0
Total equity		5,629.6	5,115.8
Total liabilities and equity		9,402.5	8,827.3
Guarantor Subsidiaries [Member]
ASSETS
Cash and cash equivalents		103.7	89.5	65.1	38.4
Investments in subsidiaries		0	0
Other assets		238.6	250.8
Advances to Affiliate		0	0
Total assets		6,257.2	5,865
LIABILITIES & EQUITY
Accounts payable and other liabilities		857.7	853.3
Intercompany payables		2,254.3	2,282.2
Notes payable		10.7	3.4
Total liabilities		3,122.7	3,138.9
Total stockholders' equity		3,134.5	2,726.1
Noncontrolling interests		0	0
Total equity		3,134.5	2,726.1
Total liabilities and equity		6,257.2	5,865
Non-Guarantor Subsidiaries [Member]
ASSETS
Cash and cash equivalents		85.4	74.9	84.7	67.6
Investments in subsidiaries		0	0
Other assets		97.9	88.9
Advances to Affiliate		0	0
Total assets		879.8	752.6
LIABILITIES & EQUITY
Accounts payable and other liabilities		125.1	136.9
Intercompany payables		119.5	82
Notes payable		466.1	377.7
Total liabilities		710.7	596.6
Total stockholders' equity		167.7	152.1
Noncontrolling interests		1.4	3.9
Total equity		169.1	156
Total liabilities and equity		879.8	752.6
Eliminations [Member]
ASSETS
Cash and cash equivalents		0	0	$ 0	$ 0
Investments in subsidiaries		(3,302.2)	(2,878.2)
Other assets		0	0
Advances to Affiliate		(2,373.8)	(2,364.2)
Total assets		(5,676)	(5,242.4)
LIABILITIES & EQUITY
Accounts payable and other liabilities		0	0
Intercompany payables		(2,373.8)	(2,364.2)
Notes payable		0	0
Total liabilities		(2,373.8)	(2,364.2)
Total stockholders' equity		(3,302.2)	(2,878.2)
Noncontrolling interests		0	0
Total equity		(3,302.2)	(2,878.2)
Total liabilities and equity		(5,676)	(5,242.4)
Homebuilding [Member]
ASSETS
Cash and cash equivalents		766.7	632.5
Restricted cash		11.7	10
Inventories	[1]	8,111.2	7,700.5
Deferred income taxes		544.3	565
Property and equipment, net		199.3	190.8
Other assets		445.4	441.1
Goodwill		97	94.8
Total assets		10,175.6	9,634.7
LIABILITIES & EQUITY
Notes payable		3,373.1	3,323.6
Total liabilities		4,744.4	4,678.9
Homebuilding [Member] | D.R. Horton, Inc. [Member]
ASSETS
Restricted cash		8.1	6.8
Inventories		2,683.5	2,675.9
Deferred income taxes		172.7	189.9
Property and equipment, net		56.2	51.9
Goodwill		0	0
Homebuilding [Member] | Guarantor Subsidiaries [Member]
ASSETS
Restricted cash		2.5	2.1
Inventories		5,402.1	5,014.3
Deferred income taxes		360.9	364.4
Property and equipment, net		52.4	49.1
Goodwill		97	94.8
Homebuilding [Member] | Non-Guarantor Subsidiaries [Member]
ASSETS
Restricted cash		1.1	1.1
Inventories		25.6	10.3
Deferred income taxes		10.7	10.7
Property and equipment, net		90.7	89.8
Goodwill		0	0
Homebuilding [Member] | Eliminations [Member]
ASSETS
Restricted cash		0	0
Inventories		0	0
Deferred income taxes		0	0
Property and equipment, net		0	0
Goodwill		0	0
Financial Services [Member]
ASSETS
Cash and cash equivalents		38.9	29.3
Other assets		80.6	61.6
Mortgage loans held for sale		568.4	476.9
Total assets		687.9	567.8
LIABILITIES & EQUITY
Total liabilities		488.1	403.9
Financial Services [Member] | D.R. Horton, Inc. [Member]
ASSETS
Mortgage loans held for sale		0	0
Financial Services [Member] | Guarantor Subsidiaries [Member]
ASSETS
Mortgage loans held for sale		0	0
Financial Services [Member] | Non-Guarantor Subsidiaries [Member]
ASSETS
Mortgage loans held for sale		568.4	476.9
Financial Services [Member] | Eliminations [Member]
ASSETS
Mortgage loans held for sale		$ 0	$ 0
[1]	Homebuilding inventories are the only assets included in the measure of homebuilding segment assets used by the Company’s chief operating decision makers.

Supplemental Guarantor Inform52

Supplemental Guarantor Information (Details 1) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financial Services [Abstract]
Income (loss) before income taxes	[1]	$ 333.8	$ 171.8	$ 784.6	$ 563.4
Income tax expense (benefit)		112.4	58.7	272.8	196.1
Net income		221.4	113.1	511.8	367.3
Comprehensive income		221.4	113.1	511.8	367.6
Homebuilding [Member]
Homebuilding:
Revenues		2,876.4	2,102.9	7,468	5,435.1
Cost of sales		2,320.4	1,725.5	6,026.9	4,318.9
Gross profit		556	377.4	1,441.1	1,116.2
Selling, general and administrative expense		257.8	221.9	738.2	593.2
Equity in (income) of subsidiaries		0	0	0	0
Other (income)		(3.9)	(3.1)	(13.9)	(9.2)
Financial Services [Abstract]
Income (loss) before income taxes	[1]	302.1	158.6	716.8	532.2
Financial Services [Member]
Financial Services [Abstract]
Financial Services Revenue		74.4	44.1	183.6	117.4
General and administrative expense		46	33.8	124.6	93.7
Interest and other (income)		(3.3)	(2.9)	(8.8)	(7.5)
Income (loss) before income taxes	[1]	31.7	13.2	67.8	31.2
D.R. Horton, Inc. [Member]
Financial Services [Abstract]
Income (loss) before income taxes		333.8	171.8	784.6	563.4
Income tax expense (benefit)		112.4	58.7	272.8	196.1
Net income		221.4	113.1	511.8	367.3
Comprehensive income		221.4	113.1	511.8	367.3
D.R. Horton, Inc. [Member] | Homebuilding [Member]
Homebuilding:
Revenues		890.5	653.8	2,314.4	1,780
Cost of sales		718	523.2	1,865.6	1,406.1
Gross profit		172.5	130.6	448.8	373.9
Selling, general and administrative expense		116.2	102.3	338.9	279.4
Equity in (income) of subsidiaries		(277.1)	(143.2)	(673.4)	(467.8)
Other (income)		(0.4)	(0.3)	(1.3)	(1.1)
Financial Services [Abstract]
Income (loss) before income taxes		333.8	171.8	784.6	563.4
D.R. Horton, Inc. [Member] | Financial Services [Member]
Financial Services [Abstract]
Financial Services Revenue		0	0	0	0
General and administrative expense		0	0	0	0
Interest and other (income)		0	0	0	0
Income (loss) before income taxes		0	0	0	0
Guarantor Subsidiaries [Member]
Financial Services [Abstract]
Income (loss) before income taxes		250	131.6	619.7	438.9
Income tax expense (benefit)		83	44.9	213.9	152.8
Net income		167	86.7	405.8	286.1
Comprehensive income		167	86.7	405.8	286.4
Guarantor Subsidiaries [Member] | Homebuilding [Member]
Homebuilding:
Revenues		1,985.9	1,445.5	5,153.6	3,645.4
Cost of sales		1,601	1,198.8	4,156	2,903.3
Gross profit		384.9	246.7	997.6	742.1
Selling, general and administrative expense		135.5	116	381	306
Equity in (income) of subsidiaries		0	0	0	0
Other (income)		(0.6)	(0.9)	(3.1)	(2.8)
Financial Services [Abstract]
Income (loss) before income taxes		250	131.6	619.7	438.9
Guarantor Subsidiaries [Member] | Financial Services [Member]
Financial Services [Abstract]
Financial Services Revenue		0	0	0	0
General and administrative expense		0	0	0	0
Interest and other (income)		0	0	0	0
Income (loss) before income taxes		0	0	0	0
Non-Guarantor Subsidiaries [Member]
Financial Services [Abstract]
Income (loss) before income taxes		27.1	11.6	53.7	28.9
Income tax expense (benefit)		10.3	4.1	20.6	10.1
Net income		16.8	7.5	33.1	18.8
Comprehensive income		16.8	7.5	33.1	18.8
Non-Guarantor Subsidiaries [Member] | Homebuilding [Member]
Homebuilding:
Revenues		0	3.6	0	9.7
Cost of sales		1.4	3.5	5.3	9.5
Gross profit		(1.4)	0.1	(5.3)	0.2
Selling, general and administrative expense		6.1	3.6	18.3	7.8
Equity in (income) of subsidiaries		0	0	0	0
Other (income)		(2.9)	(1.9)	(9.5)	(5.3)
Financial Services [Abstract]
Income (loss) before income taxes		(4.6)	(1.6)	(14.1)	(2.3)
Non-Guarantor Subsidiaries [Member] | Financial Services [Member]
Financial Services [Abstract]
Financial Services Revenue		74.4	44.1	183.6	117.4
General and administrative expense		46	33.8	124.6	93.7
Interest and other (income)		(3.3)	(2.9)	(8.8)	(7.5)
Income (loss) before income taxes		31.7	13.2	67.8	31.2
Eliminations [Member]
Financial Services [Abstract]
Income (loss) before income taxes		(277.1)	(143.2)	(673.4)	(467.8)
Income tax expense (benefit)		(93.3)	(49)	(234.5)	(162.9)
Net income		(183.8)	(94.2)	(438.9)	(304.9)
Comprehensive income		(183.8)	(94.2)	(438.9)	(304.9)
Eliminations [Member] | Homebuilding [Member]
Homebuilding:
Revenues		0	0	0	0
Cost of sales		0	0	0	0
Gross profit		0	0	0	0
Selling, general and administrative expense		0	0	0	0
Equity in (income) of subsidiaries		277.1	143.2	673.4	467.8
Other (income)		0	0	0	0
Financial Services [Abstract]
Income (loss) before income taxes		(277.1)	(143.2)	(673.4)	(467.8)
Eliminations [Member] | Financial Services [Member]
Financial Services [Abstract]
Financial Services Revenue		0	0	0	0
General and administrative expense		0	0	0	0
Interest and other (income)		0	0	0	0
Income (loss) before income taxes		$ 0	$ 0	$ 0	$ 0
[1]	Expenses maintained at the corporate level consist primarily of interest and property taxes, which are capitalized and amortized to cost of sales or expensed directly, and the expenses related to operating the Company’s corporate office. The amortization of capitalized interest and property taxes is allocated to each segment based on the segment’s cost of sales, while those expenses associated with the corporate office are allocated to each segment based on the segment’s inventory balances.

Supplemental Guarantor Inform53

Supplemental Guarantor Information (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Dec. 31, 2012	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities			$ 188.6	$ (573.7)
INVESTING ACTIVITIES
Purchases of property and equipment			(43.3)	(49.9)
Decrease (increase) in restricted cash			(1.7)	57.7
Net principal increase of mortgage loans held in portfolio and real estate owned			(6.3)	(2.8)
Payments for (Proceeds from) Other Investing Activities			0	0
Payments to Acquire Other Investments		$ (18.6)	(14.8)	0
Payment related to acquisition of a business	$ (70.9)		(68.7)	(222.7)
Net cash provided by (used in) investing activities			(134.8)	(217.7)
FINANCING ACTIVITIES
Proceeds from Notes Payable			1,560.8	686.3
Repayments of Notes Payable			(1,433.5)	(273.9)
Proceeds from (Payments for) Other Financing Activities			0	0
Proceeds from stock associated with certain employee benefit plans			24	43.1
Income tax benefit from employee stock awards			7.3	1.6
Cash dividends paid			(68.6)	(25.8)
Net cash provided by (used in) financing activities			90	431.3
(Decrease) increase in cash and cash equivalents			143.8	(360.1)
Cash and cash equivalents at beginning of period			661.8	977.4
Cash and cash equivalents at end of period	805.6		805.6	617.3
D.R. Horton, Inc. [Member]
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities			164.7	(259.5)
INVESTING ACTIVITIES
Purchases of property and equipment			(21.4)	(17.9)
Decrease (increase) in restricted cash			(1.2)	58.2
Net principal increase of mortgage loans held in portfolio and real estate owned			0	0
Payments for (Proceeds from) Other Investing Activities			58.8	(329)
Payments to Acquire Other Investments			(14.8)
Payment related to acquisition of a business			(68.7)	(222.7)
Net cash provided by (used in) investing activities			(47.3)	(511.4)
FINANCING ACTIVITIES
Proceeds from Notes Payable			1,472	622
Repayments of Notes Payable			(1,433)	(273.9)
Proceeds from (Payments for) Other Financing Activities			0	0
Proceeds from stock associated with certain employee benefit plans			24	43.1
Income tax benefit from employee stock awards			7.3	1.6
Cash dividends paid			(68.6)	(25.8)
Net cash provided by (used in) financing activities			1.7	367
(Decrease) increase in cash and cash equivalents			119.1	(403.9)
Cash and cash equivalents at beginning of period			497.4	871.4
Cash and cash equivalents at end of period	616.5		616.5	467.5
Guarantor Subsidiaries [Member]
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities			127.1	(281.7)
INVESTING ACTIVITIES
Purchases of property and equipment			(18.2)	(23.7)
Decrease (increase) in restricted cash			(0.5)	(0.6)
Net principal increase of mortgage loans held in portfolio and real estate owned			0	0
Payments for (Proceeds from) Other Investing Activities			0	0
Payments to Acquire Other Investments			0
Payment related to acquisition of a business			0	0
Net cash provided by (used in) investing activities			(18.7)	(24.3)
FINANCING ACTIVITIES
Proceeds from Notes Payable			0	0
Repayments of Notes Payable			(0.3)	0
Proceeds from (Payments for) Other Financing Activities			(93.9)	332.7
Proceeds from stock associated with certain employee benefit plans			0	0
Income tax benefit from employee stock awards			0	0
Cash dividends paid			0	0
Net cash provided by (used in) financing activities			(94.2)	332.7
(Decrease) increase in cash and cash equivalents			14.2	26.7
Cash and cash equivalents at beginning of period			89.5	38.4
Cash and cash equivalents at end of period	103.7		103.7	65.1
Non-Guarantor Subsidiaries [Member]
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities			(88.2)	7.5
INVESTING ACTIVITIES
Purchases of property and equipment			(3.7)	(8.3)
Decrease (increase) in restricted cash			0	0.1
Net principal increase of mortgage loans held in portfolio and real estate owned			(6.3)	(2.8)
Payments for (Proceeds from) Other Investing Activities			0	0
Payments to Acquire Other Investments			0
Payment related to acquisition of a business			0	0
Net cash provided by (used in) investing activities			(10)	(11)
FINANCING ACTIVITIES
Proceeds from Notes Payable			88.8	64.3
Repayments of Notes Payable			(0.2)	0
Proceeds from (Payments for) Other Financing Activities			35.1	(3.7)
Proceeds from stock associated with certain employee benefit plans			0	0
Income tax benefit from employee stock awards			0	0
Cash dividends paid			(15)	(40)
Net cash provided by (used in) financing activities			108.7	20.6
(Decrease) increase in cash and cash equivalents			10.5	17.1
Cash and cash equivalents at beginning of period			74.9	67.6
Cash and cash equivalents at end of period	85.4		85.4	84.7
Eliminations [Member]
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities			(15)	(40)
INVESTING ACTIVITIES
Purchases of property and equipment			0	0
Decrease (increase) in restricted cash			0	0
Net principal increase of mortgage loans held in portfolio and real estate owned			0	0
Payments for (Proceeds from) Other Investing Activities			(58.8)	329
Payments to Acquire Other Investments			0
Payment related to acquisition of a business			0	0
Net cash provided by (used in) investing activities			(58.8)	329
FINANCING ACTIVITIES
Proceeds from Notes Payable			0	0
Repayments of Notes Payable			0	0
Proceeds from (Payments for) Other Financing Activities			58.8	(329)
Proceeds from stock associated with certain employee benefit plans			0	0
Income tax benefit from employee stock awards			0	0
Cash dividends paid			15	40
Net cash provided by (used in) financing activities			73.8	(289)
(Decrease) increase in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of period			0	0
Cash and cash equivalents at end of period	$ 0		$ 0	$ 0