Supplemental Guarantor Information (Tables) | 3 Months Ended |
Dec. 31, 2013 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' |
Unaudited Consolidating Balance Sheet Information | ' |
|
| | | | | | | | | | | | | | | | | | | |
| Beazer Homes | | Guarantor | | Non-Guarantor | | Consolidating | | Consolidated |
USA, Inc. | Subsidiaries | Subsidiaries | Adjustments | Beazer Homes |
| | | | USA, Inc. |
ASSETS | | | | | | | | | |
Cash and cash equivalents | $ | 388,595 | | | $ | 69 | | | $ | 1,534 | | | $ | (7,638 | ) | | $ | 382,560 | |
|
Restricted cash | 48,268 | | | 887 | | | — | | | — | | | 49,155 | |
|
Accounts receivable (net of allowance of $1,495) | — | | | 21,072 | | | 2 | | | — | | | 21,074 | |
|
Income tax receivable | 2,813 | | | — | | | — | | | — | | | 2,813 | |
|
Owned inventory | — | | | 1,374,987 | | | — | | | — | | | 1,374,987 | |
|
Consolidated inventory not owned | — | | | 7,751 | | | — | | | — | | | 7,751 | |
|
Investments in unconsolidated entities | 773 | | | 46,651 | | | — | | | — | | | 47,424 | |
|
Deferred tax assets, net | 5,333 | | | — | | | — | | | — | | | 5,333 | |
|
Property, plant and equipment, net | — | | | 17,437 | | | — | | | — | | | 17,437 | |
|
Investments in subsidiaries | 141,371 | | | — | | | — | | | (141,371 | ) | | — | |
|
Intercompany | 1,163,078 | | | — | | | 2,417 | | | (1,165,495 | ) | | — | |
|
Other assets | 18,367 | | | 5,642 | | | 290 | | | — | | | 24,299 | |
|
Total assets | $ | 1,768,598 | | | $ | 1,474,496 | | | $ | 4,243 | | | $ | (1,314,504 | ) | | $ | 1,932,833 | |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | |
Trade accounts payable | $ | — | | | $ | 60,505 | | | $ | — | | | $ | — | | | $ | 60,505 | |
|
Other liabilities | 38,882 | | | 77,360 | | | 1,076 | | | — | | | 117,318 | |
|
Intercompany | 2,417 | | | 1,170,716 | | | — | | | (1,173,133 | ) | | — | |
|
Obligations related to land not owned under option agreements | — | | | 3,147 | | | — | | | — | | | 3,147 | |
|
Total debt (net of discounts of $4,970) | 1,491,691 | | | 24,564 | | | — | | | — | | | 1,516,255 | |
|
Total liabilities | 1,532,990 | | | 1,336,292 | | | 1,076 | | | $ | (1,173,133 | ) | | 1,697,225 | |
|
Stockholders’ equity | 235,608 | | | 138,204 | | | 3,167 | | | (141,371 | ) | | 235,608 | |
|
Total liabilities and stockholders’ equity | $ | 1,768,598 | | | $ | 1,474,496 | | | $ | 4,243 | | | $ | (1,314,504 | ) | | $ | 1,932,833 | |
|
|
| | | | | | | | | | | | | | | | | | | |
| Beazer Homes | | Guarantor | | Non-Guarantor | | Consolidating | | Consolidated |
USA, Inc. | Subsidiaries | Subsidiaries | Adjustments | Beazer Homes |
| | | | USA, Inc. |
ASSETS | | | | | | | | | |
Cash and cash equivalents | $ | 499,341 | | | $ | 6,324 | | | $ | 1,637 | | | $ | (2,843 | ) | | $ | 504,459 | |
|
Restricted cash | 47,873 | | | 1,105 | | | — | | | — | | | 48,978 | |
|
Accounts receivable (net of allowance of $1,651) | — | | | 22,339 | | | 3 | | | — | | | 22,342 | |
|
Income tax receivable | 2,813 | | | — | | | — | | | — | | | 2,813 | |
|
Owned inventory | — | | | 1,304,694 | | | — | | | — | | | 1,304,694 | |
|
Consolidated inventory not owned | — | | | 9,124 | | | — | | | — | | | 9,124 | |
|
Investments in unconsolidated entities | 773 | | | 44,224 | | | — | | | — | | | 44,997 | |
|
Deferred tax assets, net | 5,253 | | | — | | | — | | | — | | | 5,253 | |
|
Property, plant and equipment, net | — | | | 17,000 | | | — | | | — | | | 17,000 | |
|
Investments in subsidiaries | 123,600 | | | — | | | — | | | (123,600 | ) | | — | |
|
Intercompany | 1,088,949 | | | — | | | 2,747 | | | (1,091,696 | ) | | — | |
|
Other assets | 19,602 | | | 7,147 | | | 380 | | | — | | | 27,129 | |
|
Total assets | $ | 1,788,204 | | | $ | 1,411,957 | | | $ | 4,767 | | | $ | (1,218,139 | ) | | $ | 1,986,789 | |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | |
Trade accounts payable | $ | — | | | $ | 83,800 | | | $ | — | | | $ | — | | | $ | 83,800 | |
|
Other liabilities | 52,009 | | | 92,384 | | | 1,230 | | | — | | | 145,623 | |
|
Intercompany | 2,747 | | | 1,091,792 | | | — | | | (1,094,539 | ) | | — | |
|
Obligations related to land not owned under option agreements | — | | | 4,633 | | | — | | | — | | | 4,633 | |
|
Total debt (net of discounts of $5,160) | 1,492,898 | | | 19,285 | | | — | | | — | | | 1,512,183 | |
|
Total liabilities | 1,547,654 | | | 1,291,894 | | | 1,230 | | | $ | (1,094,539 | ) | | 1,746,239 | |
|
Stockholders’ equity | 240,550 | | | 120,063 | | | 3,537 | | | (123,600 | ) | | 240,550 | |
|
Total liabilities and stockholders’ equity | $ | 1,788,204 | | | $ | 1,411,957 | | | $ | 4,767 | | | $ | (1,218,139 | ) | | $ | 1,986,789 | |
|
Unaudited Consolidating Income Statement | ' |
|
| | | | | | | | | | | | | | | | | | | |
| Beazer Homes | | Guarantor | | Non-Guarantor | | Consolidating | | Consolidated |
USA, Inc. | Subsidiaries | Subsidiaries | Adjustments | Beazer Homes |
| | | | USA, Inc. |
Three Months Ended December 31, 2013 | | | | | | | | | |
Total revenue | $ | — | | | $ | 293,170 | | | $ | 80 | | | $ | (80 | ) | | $ | 293,170 | |
|
Home construction and land sales expenses | 7,135 | | | 231,414 | | | — | | | (80 | ) | | 238,469 | |
|
Inventory impairments and option contract abandonments | — | | | 31 | | | — | | | — | | | 31 | |
|
Gross (loss) profit | (7,135 | ) | | 61,725 | | | 80 | | | — | | | 54,670 | |
|
Commissions | — | | | 11,821 | | | — | | | — | | | 11,821 | |
|
General and administrative expenses | — | | | 28,383 | | | 27 | | | — | | | 28,410 | |
|
Depreciation and amortization | — | | | 2,907 | | | — | | | — | | | 2,907 | |
|
Operating (loss) income | (7,135 | ) | | 18,614 | | | 53 | | | — | | | 11,532 | |
|
Equity in income of unconsolidated entities | — | | | 319 | | | — | | | — | | | 319 | |
|
Other (expense) income, net | (16,032 | ) | | 278 | | | (3 | ) | | — | | | (15,757 | ) |
|
(Loss) income before income taxes | (23,167 | ) | | 19,211 | | | 50 | | | — | | | (3,906 | ) |
|
Provision for (benefit from) income taxes | 141 | | | (117 | ) | | 18 | | | — | | | 42 | |
|
Equity in income of subsidiaries | 19,360 | | | — | | | — | | | (19,360 | ) | | — | |
|
(Loss) income from continuing operations | (3,948 | ) | | 19,328 | | | 32 | | | (19,360 | ) | | (3,948 | ) |
|
Loss from discontinued operations | — | | | (1,187 | ) | | (3 | ) | | — | | | (1,190 | ) |
|
Equity in loss of subsidiaries | (1,190 | ) | | — | | | — | | | 1,190 | | | — | |
|
Net (loss) income | $ | (5,138 | ) | | $ | 18,141 | | | $ | 29 | | | $ | (18,170 | ) | | $ | (5,138 | ) |
|
| Beazer Homes | | Guarantor | | Non-Guarantor | | Consolidating | | Consolidated |
USA, Inc. | Subsidiaries | Subsidiaries | Adjustments | Beazer Homes |
| | | | USA, Inc. |
Three Months Ended December 31, 2012 | | | | | | | | | |
Total revenue | $ | — | | | $ | 246,902 | | | $ | 217 | | | $ | (217 | ) | | $ | 246,902 | |
|
Home construction and land sales expenses | 8,475 | | | 202,356 | | | — | | | (217 | ) | | 210,614 | |
|
Inventory impairments and option contract abandonments | — | | | 204 | | | — | | | — | | | 204 | |
|
Gross (loss) profit | (8,475 | ) | | 44,342 | | | 217 | | | — | | | 36,084 | |
|
Commissions | — | | | 10,642 | | | — | | | — | | | 10,642 | |
|
General and administrative expenses | — | | | 26,301 | | | 27 | | | — | | | 26,328 | |
|
Depreciation and amortization | — | | | 2,715 | | | — | | | — | | | 2,715 | |
|
Operating (loss) income | (8,475 | ) | | 4,684 | | | 190 | | | — | | | (3,601 | ) |
|
Equity in income of unconsolidated entities | — | | | 36 | | | — | | | — | | | 36 | |
|
Other (expense) income, net | (16,211 | ) | | 580 | | | 4 | | | — | | | (15,627 | ) |
|
(Loss) income before income taxes | (24,686 | ) | | 5,300 | | | 194 | | | — | | | (19,192 | ) |
|
(Benefit from) provision for income taxes | (437 | ) | | 94 | | | 90 | | | — | | | (253 | ) |
|
Equity in income of subsidiaries | 5,310 | | | — | | | — | | | (5,310 | ) | | — | |
|
(Loss) income from continuing operations | (18,939 | ) | | 5,206 | | | 104 | | | (5,310 | ) | | (18,939 | ) |
|
Loss (income) from discontinued operations | — | | | (1,491 | ) | | 42 | | | — | | | (1,449 | ) |
|
Equity in loss of subsidiaries | (1,449 | ) | | — | | | — | | | 1,449 | | | — | |
|
Net (loss) income | $ | (20,388 | ) | | $ | 3,715 | | | $ | 146 | | | $ | (3,861 | ) | | $ | (20,388 | ) |
|
Beazer Homes USA, Inc. |
|
Unaudited Consolidating Statement of Operations Information |
(In thousands) |
|
| | | | | | | | | | | | | | | | | | | |
| Beazer Homes | | Guarantor | | Non-Guarantor | | Consolidating | | Consolidated |
USA, Inc. | Subsidiaries | Subsidiaries | Adjustments | Beazer Homes |
| | | | USA, Inc. |
Three Months Ended December 31, 2013 | | | | | | | | | |
Total revenue | $ | — | | | $ | 293,170 | | | $ | 80 | | | $ | (80 | ) | | $ | 293,170 | |
|
Home construction and land sales expenses | 7,135 | | | 231,414 | | | — | | | (80 | ) | | 238,469 | |
|
Inventory impairments and option contract abandonments | — | | | 31 | | | — | | | — | | | 31 | |
|
Gross (loss) profit | (7,135 | ) | | 61,725 | | | 80 | | | — | | | 54,670 | |
|
Commissions | — | | | 11,821 | | | — | | | — | | | 11,821 | |
|
General and administrative expenses | — | | | 28,383 | | | 27 | | | — | | | 28,410 | |
|
Depreciation and amortization | — | | | 2,907 | | | — | | | — | | | 2,907 | |
|
Operating (loss) income | (7,135 | ) | | 18,614 | | | 53 | | | — | | | 11,532 | |
|
Equity in income of unconsolidated entities | — | | | 319 | | | — | | | — | | | 319 | |
|
Other (expense) income, net | (16,032 | ) | | 278 | | | (3 | ) | | — | | | (15,757 | ) |
|
(Loss) income before income taxes | (23,167 | ) | | 19,211 | | | 50 | | | — | | | (3,906 | ) |
|
Provision for (benefit from) income taxes | 141 | | | (117 | ) | | 18 | | | — | | | 42 | |
|
Equity in income of subsidiaries | 19,360 | | | — | | | — | | | (19,360 | ) | | — | |
|
(Loss) income from continuing operations | (3,948 | ) | | 19,328 | | | 32 | | | (19,360 | ) | | (3,948 | ) |
|
Loss from discontinued operations | — | | | (1,187 | ) | | (3 | ) | | — | | | (1,190 | ) |
|
Equity in loss of subsidiaries | (1,190 | ) | | — | | | — | | | 1,190 | | | — | |
|
Net (loss) income | $ | (5,138 | ) | | $ | 18,141 | | | $ | 29 | | | $ | (18,170 | ) | | $ | (5,138 | ) |
|
| Beazer Homes | | Guarantor | | Non-Guarantor | | Consolidating | | Consolidated |
USA, Inc. | Subsidiaries | Subsidiaries | Adjustments | Beazer Homes |
| | | | USA, Inc. |
Three Months Ended December 31, 2012 | | | | | | | | | |
Total revenue | $ | — | | | $ | 246,902 | | | $ | 217 | | | $ | (217 | ) | | $ | 246,902 | |
|
Home construction and land sales expenses | 8,475 | | | 202,356 | | | — | | | (217 | ) | | 210,614 | |
|
Inventory impairments and option contract abandonments | — | | | 204 | | | — | | | — | | | 204 | |
|
Gross (loss) profit | (8,475 | ) | | 44,342 | | | 217 | | | — | | | 36,084 | |
|
Commissions | — | | | 10,642 | | | — | | | — | | | 10,642 | |
|
General and administrative expenses | — | | | 26,301 | | | 27 | | | — | | | 26,328 | |
|
Depreciation and amortization | — | | | 2,715 | | | — | | | — | | | 2,715 | |
|
Operating (loss) income | (8,475 | ) | | 4,684 | | | 190 | | | — | | | (3,601 | ) |
|
Equity in income of unconsolidated entities | — | | | 36 | | | — | | | — | | | 36 | |
|
Other (expense) income, net | (16,211 | ) | | 580 | | | 4 | | | — | | | (15,627 | ) |
|
(Loss) income before income taxes | (24,686 | ) | | 5,300 | | | 194 | | | — | | | (19,192 | ) |
|
(Benefit from) provision for income taxes | (437 | ) | | 94 | | | 90 | | | — | | | (253 | ) |
|
Equity in income of subsidiaries | 5,310 | | | — | | | — | | | (5,310 | ) | | — | |
|
(Loss) income from continuing operations | (18,939 | ) | | 5,206 | | | 104 | | | (5,310 | ) | | (18,939 | ) |
|
Loss (income) from discontinued operations | — | | | (1,491 | ) | | 42 | | | — | | | (1,449 | ) |
|
Equity in loss of subsidiaries | (1,449 | ) | | — | | | — | | | 1,449 | | | — | |
|
Net (loss) income | $ | (20,388 | ) | | $ | 3,715 | | | $ | 146 | | | $ | (3,861 | ) | | $ | (20,388 | ) |
|
Unaudited Consolidating Statements of Cash Flow | ' |
|
| | | | | | | | | | | | | | | | | | | |
| Beazer Homes | | Guarantor | | Non-Guarantor | | Consolidating | | Consolidated |
USA, Inc. | Subsidiaries | Subsidiaries | Adjustments | Beazer Homes |
| | | | USA, Inc. |
Three Months Ended December 31, 2013 | | | | | | | | | |
Net cash used in operating activities | $ | (37,161 | ) | | $ | (76,683 | ) | | $ | (34 | ) | | $ | — | | | $ | (113,878 | ) |
|
Cash flows from investing activities: | | | | | | | | | |
Capital expenditures | — | | | (3,200 | ) | | — | | | — | | | (3,200 | ) |
|
Investments in unconsolidated entities | — | | | (2,164 | ) | | — | | | — | | | (2,164 | ) |
|
Increases in restricted cash | (433 | ) | | (295 | ) | | — | | | — | | | (728 | ) |
|
Decreases in restricted cash | 39 | | | 512 | | | — | | | — | | | 551 | |
|
Net cash used in investing activities | (394 | ) | | (5,147 | ) | | — | | | — | | | (5,541 | ) |
|
Cash flows from financing activities: | | | | | | | | | |
Repayment of debt | (1,913 | ) | | (122 | ) | | — | | | — | | | (2,035 | ) |
|
Debt issuance costs | (32 | ) | | — | | | — | | | — | | | (32 | ) |
|
Advances to/from subsidiaries | (70,833 | ) | | 75,697 | | | (69 | ) | | (4,795 | ) | | — | |
|
Payments for other financing activities | (413 | ) | | — | | | — | | | — | | | (413 | ) |
|
Net cash (used in) provided by financing activities | (73,191 | ) | | 75,575 | | | (69 | ) | | (4,795 | ) | | (2,480 | ) |
|
Decrease in cash and cash equivalents | (110,746 | ) | | (6,255 | ) | | (103 | ) | | (4,795 | ) | | (121,899 | ) |
Cash and cash equivalents at beginning of period | 499,341 | | | 6,324 | | | 1,637 | | | (2,843 | ) | | 504,459 | |
|
Cash and cash equivalents at end of period | $ | 388,595 | | | $ | 69 | | | $ | 1,534 | | | $ | (7,638 | ) | | $ | 382,560 | |
|
| Beazer Homes | | Guarantor | | Non-Guarantor | | Consolidating | | Consolidated |
USA, Inc. | Subsidiaries | Subsidiaries | Adjustments | Beazer Homes |
| | | | USA, Inc. |
Three Months Ended December 31, 2012 | | | | | | | | | |
Net cash provided by (used in) operating activities | $ | 315 | | | $ | (87,817 | ) | | $ | 49 | | | $ | — | | | $ | (87,453 | ) |
|
Cash flows from investing activities: | | | | | | | | | |
Capital expenditures | — | | | (1,772 | ) | | — | | | — | | | (1,772 | ) |
|
Investments in unconsolidated entities | — | | | (115 | ) | | — | | | — | | | (115 | ) |
|
Increases in restricted cash | (132 | ) | | (146 | ) | | — | | | — | | | (278 | ) |
|
Decreases in restricted cash | 1,958 | | | 125 | | | — | | | — | | | 2,083 | |
|
Net cash provided by (used in) investing activities | 1,826 | | | (1,908 | ) | | — | | | — | | | (82 | ) |
|
Cash flows from financing activities: | | | | | | | | | |
Repayment of debt | (1,861 | ) | | (41 | ) | | — | | | — | | | (1,902 | ) |
|
Settlement of unconsolidated entity debt obligations | — | | | (500 | ) | | — | | | — | | | (500 | ) |
|
Debt issuance costs | (1,136 | ) | | — | | | — | | | — | | | (1,136 | ) |
|
Advances to/from subsidiaries | (81,834 | ) | | 82,982 | | | (96 | ) | | (1,052 | ) | | — | |
|
Payments for other financing activities | (26 | ) | | — | | | — | | | — | | | (26 | ) |
|
Net cash (used in) provided by financing activities | (84,857 | ) | | 82,441 | | | (96 | ) | | (1,052 | ) | | (3,564 | ) |
|
Decrease in cash and cash equivalents | (82,716 | ) | | (7,284 | ) | | (47 | ) | | (1,052 | ) | | (91,099 | ) |
Cash and cash equivalents at beginning of period | 481,394 | | | 8,215 | | | 646 | | | (2,460 | ) | | 487,795 | |
|
Cash and cash equivalents at end of period | $ | 398,678 | | | $ | 931 | | | $ | 599 | | | $ | (3,512 | ) | | $ | 396,696 | |
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