Beazer Homes USA (BZH) 10-Q 4 Aug 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	BEAZER HOMES USA INC
Entity Central Index Key	915,840
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	Accelerated Filer
Entity Common Stock, Shares Outstanding		32,662,526

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
ASSETS
Cash and cash equivalents	$ 128,752	$ 324,154
Restricted cash	37,811	62,941
Accounts receivable (net of allowance of $1,292 and $1,245, respectively)	44,882	34,429
Income tax receivable	262	46
Inventory:
Owned inventory	1,822,090	1,557,496
Land not owned under option agreements	0	3,857
Total inventory	1,822,090	1,561,353
Investments in unconsolidated entities and marketable securities	11,407	38,341
Deferred tax assets, net	46	2,823
Property and equipment, net	22,683	18,673
Other assets	22,239	23,460
Total assets	2,090,172	2,066,220
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	127,063	106,237
Other liabilities	136,292	142,516
Obligations related to land not owned under option agreements	0	2,916
Total debt (net of discounts of $3,829 and $4,399, respectively)	1,554,207	1,535,433
Total liabilities	1,817,562	1,787,102
Stockholders’ equity:
Preferred stock (par value $.01 per share, 5,000,000 shares authorized, no shares issued)	0	0
Common stock (par value $0.001 per share, 63,000,000 shares authorized, 27,449,806 issued and outstanding and 27,173,421 issued and outstanding, respectively)	27	27
Paid-in capital	856,001	851,624
Accumulated deficit	(583,418)	(571,257)
Accumulated other comprehensive loss	0	(1,276)
Total stockholders’ equity	272,610	279,118
Total liabilities and stockholders’ equity	$ 2,090,172	$ 2,066,220

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
ASSETS
Allowances for accounts receivable	$ 1,292	$ 1,245
LIABILITIES AND STOCKHOLDERS’ EQUITY
Discounts on total debt	$ 3,829	$ 4,399
Preferred stock, par value (in US$ per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in US$ per share)	$ 0.001	$ 0.001
Common stock, shares authorized	63,000,000	63,000,000
Common stock, shares issued	27,449,806	27,173,421
Common stock, shares outstanding	27,449,806	27,173,421

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Total revenue	$ 429,438	$ 354,671	$ 994,561	$ 917,862
Home construction and land sales expenses	353,081	283,857	829,073	739,295
Inventory impairments and option contract abandonments	249	2,010	249	2,921
Gross profit	76,108	68,804	165,239	175,646
Commissions	17,246	14,322	40,141	37,239
General and administrative expenses	37,669	35,994	101,837	97,032
Depreciation and amortization	3,497	3,400	8,619	9,138
Operating income	17,696	15,088	14,642	32,237
Equity in income (loss) of unconsolidated entities	153	(81)	377	221
Loss on extinguishment of debt	0	(19,764)	0	(19,917)
Other expense, net	(5,763)	(10,205)	(23,670)	(39,689)
(Loss) income before income taxes	12,086	(14,962)	(8,651)	(27,148)
Benefit from income taxes	(135)	(1,769)	(726)	(1,783)
Income (loss) from continuing operations	12,221	(13,193)	(7,925)	(25,365)
Income (loss) from discontinued operations, net of tax	(46)	838	(4,236)	(99)
Net income (loss)	$ 12,175	$ (12,355)	$ (12,161)	$ (25,464)
Weighted average number of shares:
Basic (shares)	26,482	26,421	26,473	25,582
Diluted (shares)	31,800	26,421	26,473	25,582
Basic income (loss) per share:
Continuing operations (in dollars per share)	$ 0.46	$ (0.50)	$ (0.30)	$ (0.99)
Discontinued operations (in dollars per share)	0	0.03	(0.16)	(0.01)
Total (in dollars per share)	0.46	(0.47)	(0.46)	(1)
Diluted income (loss) per share
Continuing operations (in dollars per share)	0.38	(0.50)	(0.30)	(0.99)
Discontinued operations (in dollars per share)	0	0.03	0	(0.01)
Total (in dollars per share)	$ 0.38	$ (0.47)	$ (0.46)	$ (1)
Change in unrealized loss related to available-for-sale securities	$ 0	$ 0	$ 1,276	$ 0
Comprehensive income (loss)	$ 12,175	$ (12,355)	$ (10,885)	$ (25,464)

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (12,161)	$ (25,464)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	8,619	9,138
Stock-based compensation expense	4,546	1,879
Inventory impairments and option contract abandonments	249	2,921
Deferred and other income tax (benefit) expense	(731)	16
Change in allowance for doubtful accounts	47	(373)
Equity in loss (income) of unconsolidated entities and marketable securities	1,453	(221)
Cash distributions of income from marketable securities and unconsolidated entities	99	567
Loss on extinguishment of debt	0	2,670
Changes in operating assets and liabilities:
Increase in accounts receivable	(10,500)	(6,284)
Increase in income tax receivable	(216)	(1,941)
Increase in inventory	(245,169)	(260,982)
Increase in other assets	(2,287)	(626)
Increase in trade accounts payable	20,826	635
Decrease in other liabilities	(2,716)	(11,191)
Other changes	(199)	(337)
Net cash used in operating activities	(238,140)	(289,593)
Cash flows from investing activities:
Capital expenditures	(11,756)	(8,984)
Investments in unconsolidated entities	(2,651)	(4,567)
Proceeds from sale of unconsolidated entities and marketable securities	24,245	187
Increases in restricted cash	(3,806)	(10,081)
Decreases in restricted cash	28,936	1,096
Net cash provided by (used in) investing activities	34,968	(22,349)
Cash flows from financing activities:
Repayment of debt	(11,934)	(305,085)
Proceeds from issuance of new debt	0	325,000
Borrowings from credit facility	50,000	0
Repayment of borrowings from credit facility	(30,000)	0
Debt issuance costs	(126)	(5,504)
Other financing activities	(170)	(446)
Net cash provided by financing activities	7,770	13,965
Decrease in cash and cash equivalents	(195,402)	(297,977)
Cash and cash equivalents at beginning of period	324,154	$ 504,459
Cash and cash equivalents at end of period	$ 128,752

Description of Business

Description of Business - Jun. 30, 2015 - state	Total
Description of Business [Abstract]
Business Description and Basis of Presentation	Description of Business Beazer Homes USA, Inc. (''we," "us," "our," "Beazer," "Beazer Homes" and the "Company") is a geographically diversified homebuilder with active operations in 15 states within three geographic regions in the United States: the West, East and Southeast. Our homes are designed to appeal to homeowners at different price points across various demographic segments and are generally offered for sale in advance of their construction. Our objective is to provide our customers with homes that incorporate exceptional value and quality while seeking to maximize our return on invested capital over the course of a housing cycle. For an additional description of our business, refer to Item 1 within our Annual Report on Form 10-K for the fiscal year ended September 30, 2014 (2014 Annual Report).
Number of states in which home building segments operate	15
Number of regions in which entity operates	3

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Such financial statements do not include all of the information and disclosures required by GAAP for complete financial statements. In our opinion, all adjustments (consisting primarily of normal recurring accruals) necessary for a fair presentation have been included in the accompanying financial statements. The results of our consolidated operations presented herein for the three and nine months ended June 30, 2015 are not necessarily indicative of the results to be expected for the full year due to seasonal variations in operations and other items. For further information and a discussion of our significant accounting policies other than as discussed below, refer to Note 1 to our audited consolidated financial statements within our 2014 Annual Report. Over the past few years, we have discontinued homebuilding operations in certain of our markets. Results from our title services business and our exited markets are reported as discontinued operations in the accompanying unaudited consolidated statements of operations for all periods presented (see Note 16 for further discussion of our Discontinued Operations). We evaluated events that occurred after the balance sheet date but before the financial statements were issued for accounting treatment and disclosure. Basis of Consolidation. These unaudited consolidated financial statements present the consolidated financial position, income, comprehensive income and cash flows of the Company and our subsidiaries. Intercompany balances have been eliminated in consolidation. Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make informed estimates and judgments that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Accordingly, actual results could differ from these estimates. Inventory Valuation. We assess our inventory assets no less than quarterly for recoverability in accordance with the policies described in Notes 1 and 4 to the consolidated financial statements in our 2014 Annual Report. Our homebuilding inventories that are accounted for as held for development include land and home construction assets grouped together as communities. Homebuilding inventories held for development are stated at cost (including direct construction costs, capitalized indirect costs, capitalized interest and real estate taxes) unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. For those communities for which construction and development activities are expected to occur in the future or have been idled (land held for future development), all applicable interest and real estate taxes are expensed as incurred and the inventory is stated at cost unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. We record assets held for sale at the lower of the carrying value or fair value less costs to sell. Recent Accounting Pronouncements. Revenue from Contracts with Customers. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (ASU 2014-09) . ASU 2014-09 requires companies to recognize revenue at an amount that the entity expects to be entitled to upon transferring control of goods or services to a customer, as opposed to when risks and rewards transfer to a customer under the existing revenue recognition guidance. The FASB has deferred for one year the effective date of ASU 2014-09, which makes the guidance effective for the Company's first fiscal year beginning after December 15, 2017. Additionally, the FASB also is permitting entities to early adopt the standard, which allows for either full retrospective or modified retrospective methods of adoption, for reporting periods beginning after December 15, 2016. We are currently evaluating the impact of ASU 2014-09 on our consolidated financial statements. Presentation of Debt Issuance Costs. In April 2015, the FASB issued ASU 2015-03, Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs (ASU 2015-03) . ASU 2015-03 requires debt issuance costs to be presented on the balance sheet as a direct deduction from the related debt liability, similar to the presentation of debt discounts or premiums. The costs will continue to be amortized to interest expense. ASU 2015-03 requires retrospective application to all prior periods presented in the financial statements. Upon transition, an entity is required to comply with the applicable disclosures for a change in accounting principle. The guidance within ASU 2015-03 will be effective for the Company's first fiscal year beginning after December 15, 2015, but we have the option of adopting the new requirements as of an earlier date. We are evaluating the impact of ASU 2015-03, but only expect our balance sheet presentation of debt issuance costs to change as a result. Refer to Note 9 for a discussion of our adoption of ASU 2013-11 pertaining to the presentation of an unrecognized tax benefit when a net operating loss carryforward, or similar tax loss, or a tax credit carryforward exists.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following table presents supplemental disclosure of non-cash and cash activity for the periods presented: Nine Months Ended June 30, (In thousands) 2015 2014 Supplemental disclosure of non-cash activity: Decrease in obligations related to land not owned under option agreements $ (2,916 ) $ (1,617 ) Decrease in debt related to conversion of Mandatory Convertible Subordinated Notes and Tangible Equity Units for common stock (1 ) (2,376 ) Non-cash land acquisitions (a) 12,904 20,207 Non-cash capital expenditure 674 — Supplemental disclosure of cash activity: Interest payments 99,434 100,040 Income tax payments 474 174 (a) For the nine months ended June 30, 2015 , non-cash land acquisitions are comprised of $7.8 million related to non-cash seller financing and $5.1 million in lot takedowns from one of our unconsolidated land development joint ventures.

Investments in Marketable Secur

Investments in Marketable Securities and Unconsolidated Entities	9 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	Investments in Marketable Securities and Unconsolidated Entities Marketable Securities During the fourth quarter of fiscal 2014, the Company acquired shares of American Homes 4 Rent (AMH) in exchange for the Company's interest in a real estate investment trust (REIT). The shares represented marketable equity securities with a readily available fair value and were classified as available-for-sale securities. In March 2015, the Company sold the shares and recorded a loss of $1.8 million , which has been recorded within other expense, net in our unaudited consolidated statements of income. Changes in value prior to the second quarter of fiscal 2015 were recorded to other comprehensive loss, and then transferred to other expense, net upon sale. The proceeds received on the sale of the shares of AMH were recorded within investing activities in our unaudited consolidated statements of cash flows. Due to the valuation allowance we established for substantially all of our deferred tax assets, the sale of these securities did not have any income tax impact in any period presented. Unconsolidated Entities As of June 30, 2015 , we participated in certain land development joint ventures and other unconsolidated entities in which we had less than a controlling interest. The following table presents our investment in these unconsolidated entities, as well as the total equity and outstanding borrowings of these unconsolidated entities as of June 30, 2015 and September 30, 2014 : (In thousands) June 30, 2015 September 30, 2014 Beazer’s investment in unconsolidated entities $ 11,407 $ 13,576 Total equity of unconsolidated entities 40,226 59,336 Total outstanding borrowings of unconsolidated entities 11,834 11,254 For the three and nine months ended June 30, 2015 and 2014 , there were no impairments related to our investments in these unconsolidated entities. Our equity in income (loss) from unconsolidated entity activities is as follows for the periods presented: Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Equity in income (loss) of unconsolidated entities $ 153 $ (81 ) $ 377 $ 221 South Edge/Inspirada During the fiscal year ended September 30, 2014, we and the other members of the Inspirada joint venture (Inspirada) received land in exchange for our investments in Inspirada. Also during the fiscal year ended September 30, 2014, we paid $1.0 million to the joint venture related to infrastructure and development costs. In the current quarter, we paid additional amounts, bringing our remaining obligation for our portion of future infrastructure and other development costs to approximately $3.4 million . Guarantees Historically, Beazer and our land development joint venture partners provide varying levels of guarantees of debt and other debt-related obligations for these unconsolidated entities. However, as of June 30, 2015 and September 30, 2014 , we had no outstanding guarantees or other debt-related obligations related to our investments in unconsolidated entities. We and our joint venture partners generally provide unsecured environmental indemnities to land development joint venture project lenders. In each case, we have performed due diligence on potential environmental risks. These indemnities obligate us to reimburse the project lenders for claims related to environmental matters for which they are held responsible. During the three and nine months ended June 30, 2015 and 2014 , we were not required to make any payments related to environmental indemnities. In assessing the need to record a liability for the contingent aspect of these guarantees, we consider our historical experience in being required to perform under the guarantees, the fair value of the collateral underlying these guarantees and the financial condition of the applicable unconsolidated entities. In addition, we monitor the fair value of the collateral of these unconsolidated entities to ensure that the related borrowings do not exceed the specified percentage of the value of the property securing the borrowings. We have not recorded a liability for the contingent aspects of any guarantees that we determined were reasonably possible but not probable.

Inventory

Inventory	9 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Inventory	Inventory The components of our owned inventory are as follows as of June 30, 2015 and September 30, 2014 : (In thousands) June 30, 2015 September 30, 2014 Homes under construction $ 508,853 $ 282,095 Development projects in progress 792,662 786,768 Land held for future development 270,619 301,048 Land held for sale 56,203 51,672 Capitalized interest 123,712 87,619 Model homes 70,041 48,294 Total owned inventory $ 1,822,090 $ 1,557,496 Homes under construction include homes substantially finished and ready for delivery and homes in various stages of construction. We had 98 (with a cost of $29.0 million ) and 205 (with a cost of $48.0 million ) substantially completed homes that were not subject to a sales contract (spec homes) at June 30, 2015 and September 30, 2014 , respectively. Development projects in progress consist principally of land and land improvement costs. Certain of the fully developed lots in this category are reserved by a customer deposit or sales contract. Land held for future development consists of communities for which construction and development activities are expected to occur in the future or have been idled and are stated at cost unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. All applicable interest and real estate taxes on land held for future development are expensed as incurred. Land held for sale is recorded at the lower of the carrying value or fair value less costs to sell. The amount of interest we are able to capitalize is dependent upon our qualified inventory balance, which considers the status of our inventory holdings. Our qualified inventory balance includes the majority of our homes under construction and development projects in progress, but excludes land held for future development and land held for sale (refer to Note 6 for additional information on capitalized interest). Total owned inventory, by reportable segment, is presented in the table below as of June 30, 2015 and September 30, 2014 : (In thousands) Projects in Progress (a) Land Held for Future Development Land Held for Sale Total Owned Inventory June 30, 2015 West Segment $ 626,772 $ 230,481 $ 8,268 $ 865,521 East Segment 392,716 29,215 32,057 453,988 Southeast Segment 303,225 10,923 14,778 328,926 Corporate and unallocated 172,555 (b) — 1,100 173,655 Total $ 1,495,268 $ 270,619 $ 56,203 $ 1,822,090 September 30, 2014 West Segment $ 462,508 $ 260,898 $ 10,026 $ 733,432 East Segment 353,859 29,239 34,530 417,628 Southeast Segment 264,843 10,911 4,821 280,575 Corporate and unallocated 123,566 (b) — 2,295 125,861 Total $ 1,204,776 $ 301,048 $ 51,672 $ 1,557,496 (a) Projects in progress include homes under construction, development projects in progress, capitalized interest, and model home categories from the preceding table. (b) Includes capitalized interest and indirect costs that are maintained within our Corporate and unallocated. Inventory Impairments. When conducting our community level review for the recoverability of our inventory related to projects in process, we establish a quarterly “watch list” of communities with generally more than 10 homes remaining that carry profit margins in backlog and in our forecast that are below a minimum threshold of profitability. Assets on the quarterly watch list are subject to substantial additional financial and operational analyses and review that consider the competitive environment and other factors contributing to profit margins below our watch list threshold. Our assumptions about future home sales prices and absorption rates require significant judgment because the residential homebuilding industry is cyclical and is highly sensitive to changes in economic conditions. For certain communities, we determined that it was prudent to reduce sales prices or further increase sales incentives in response to a variety of factors, including competitive market conditions in those specific submarkets for the product and locations of these communities. For communities where the current competitive and market dynamics indicate that these factors may be other than temporary, which may call into question the recoverability of our investment, a formal impairment analysis is performed. The formal impairment analysis consists of both qualitative competitive market analyses and a quantitative analysis reflecting market and asset specific information. Market deterioration that exceeds our initial estimates may lead us to incur impairment charges on previously impaired homebuilding assets in addition to homebuilding assets not currently impaired but for which indicators of impairment may arise if markets deteriorate. For the quarter ended June 30, 2015 , there were no communities on our quarterly watch list and therefore no further impairment analysis was performed. For the quarter ended June 30, 2014 , four communities were on our quarterly watch list. However, after additional financial and operational review, we determined that the factors contributing to profit margins below our threshold were temporary in nature for two of these communities, and therefore these communities were not subjected to further analysis. We conducted additional quantitative tests on the remaining two communities to further test for impairment. In the end, there were no impairments recorded during the three and nine months ended June 30, 2015 or 2014 based upon the procedures we performed. The following table represent the results, by reportable segment, of our community level review of the recoverability of our inventory assets related to projects in progress as of June 30, 2014 : (In thousands) Undiscounted Cash Flow Analyses Prepared Segment # of # of Pre-analysis Aggregate Quarter Ended June 30, 2014 West 3 2 $ 12,215 103.7 % Southeast 1 — — — % Total 4 2 Impairments on land held for sale generally represent write downs of these properties to net realizable value, less estimated costs to sell, and are based on current market conditions and our review of recent comparable transactions. Our assumptions about land sales prices require significant judgment because the real estate market is highly sensitive to changes in economic conditions. We calculated the estimated fair values of land held for sale based on current market conditions and assumptions made by management, which may differ materially from actual results and may result in additional impairments if market conditions deteriorate. From time to time, we also determine that the proper course of action with respect to a community is to not exercise an option and to write-off the deposit securing the option takedown and the related pre-acquisition costs, as applicable. In determining whether to abandon lots or lot option contracts, our evaluation is primarily based upon the expected cash flows from the property. If we intend to abandon or walk-away from the property, we record a charge to earnings in the period such decision is made for the deposit amount and any related capitalized costs. Abandonment charges generally relate to our decision to abandon lots or not exercise certain option contracts that are not projected to produce adequate results or no longer fit with our long-term strategic plan. The following table presents, by reportable homebuilding segment, our land held for sale inventory impairments and lot option abandonment charges for the periods presented: Three Months Ended June 30, Nine Months Ended June 30, (In thousands) 2015 2014 2015 2014 Land Held for Sale East $ 249 $ 201 $ 249 $ 232 Southeast — — — 28 Subtotal $ 249 $ 201 $ 249 $ 260 Lot Option Abandonments East $ — $ 156 $ — $ 156 Southeast — 1,653 — 2,505 Subtotal — 1,809 — 2,661 Total Company $ 249 $ 2,010 $ 249 $ 2,921 Lot Option Agreements and Variable Interest Entities (VIEs). As previously discussed, we also have access to land inventory through lot option contracts, which generally enable us to defer acquiring portions of properties owned by third parties and unconsolidated entities until we have determined whether to exercise our lot option. A majority of our lot option contracts require a non-refundable cash deposit or irrevocable letter of credit based on a percentage of the purchase price of the land for the right to acquire lots during a specified period of time at a specified price. Under lot option contracts, purchase of the properties is contingent upon satisfaction of certain requirements by us and the sellers. Our liability under option contracts is generally limited to forfeiture of the non-refundable deposits, letters of credit and other non-refundable amounts paid. We expect to exercise, subject to market conditions and seller satisfaction of contract terms, most of our remaining option contracts. Various factors, some of which are beyond our control, such as market conditions, weather conditions and the timing of the completion of development activities, will have a significant impact on the timing of option exercises or whether lot options will be exercised at all. We consolidated all VIEs for which we are the primary beneficiary. For those we consolidate, we record the remaining contractual purchase price under the applicable lot option agreement, net of cash deposits already paid, to land not owned under option agreements with an offsetting increase to obligations related to land not owned under option agreements on our unaudited consolidated balance sheets. Also, to reflect the total purchase price of this inventory on a consolidated basis, we present the related option deposits as land not owned under option agreement. Consolidation of these VIEs has no impact on the Company’s statements of income or cash flows. The following provides a summary of our interests in lot option agreements as of June 30, 2015 and September 30, 2014 : (In thousands) Deposits & Non-refundable Pre-acquisition Costs Incurred Remaining Obligation Land Not Owned Under Option Agreements As of June 30, 2015 Unconsolidated lot option agreements $ 51,971 $ 448,809 N/A (a) Total lot option agreements $ 51,971 $ 448,809 $ — As of September 30, 2014 Consolidated VIEs $ 941 $ 2,916 $ 3,857 Unconsolidated lot option agreements 42,588 417,618 N/A Total lot option agreements $ 43,529 $ 420,534 $ 3,857 (a) N/A - not applicable.

Interest

Interest	9 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Interest	Interest Our ability to capitalize interest incurred during the three and nine months ended June 30, 2015 and 2014 was limited by our inventory eligible for capitalization. The following table presents certain information regarding interest for the periods presented: Three Months Ended June 30, Nine Months Ended June 30, (In thousands) 2015 2014 2015 2014 Capitalized interest in inventory, beginning of period $ 112,476 $ 72,256 $ 87,619 $ 52,562 Interest incurred 30,748 31,678 91,290 96,577 Interest expense not qualified for capitalization and included as other expense (a) (5,954 ) (10,421 ) (23,396 ) (41,112 ) Capitalized interest amortized to house construction and land sales expenses (b) (13,558 ) (9,430 ) (31,801 ) (23,944 ) Capitalized interest in inventory, end of period $ 123,712 $ 84,083 $ 123,712 $ 84,083 (a) The amount of interest we are able to capitalize is dependent upon our qualified inventory balance, which considers the status of our inventory holdings. Our qualified inventory balance includes the majority of our homes under construction and development projects in progress, but excludes land held for future development and land held for sale. (b) Capitalized interest amortized to house construction and land sale expenses varies based on the number of homes closed during the period and land sales, if any, as well as other factors.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted income per share adjusts the basic income per share for the effects of any potentially dilutive instruments, only in periods in which the Company has net income and such effects are dilutive under the treasury stock method. Basic and diluted income (loss) per share is calculated using unrounded numbers. The Company reported a net loss for the three months ended June 30, 2014 and the nine months ended June 30, 2015 and 2014 . Accordingly, all common stock equivalents were excluded from the computation of diluted loss per share because inclusion would have resulted in anti-dilution. For the quarter ended June 30, 2015 , 1.2 million common stock equivalents were excluded from our calculation of diluted income per share as a result of their anti-dilutive effect. The weighted-average number of common shares outstanding used to calculate basic income per share is reconciled to shares used to calculate diluted income per share as follows for the period presented. Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2015 2014 2015 2014 Basic shares 26,482 26,421 26,473 25,582 Shares issuable upon conversion of TEUs 5,221 — — — Shares issuable upon vesting/exercise of stock awards/options 97 — — — Diluted shares 31,800 26,421 26,473 25,582 As of June 30, 2015 , there were approximately 3.7 million tangible equity units (TEUs) outstanding (including $1.7 million of amortizing notes). The majority of the remaining prepaid stock purchase contracts (PSPs) related to the TEUs were settled in Beazer Homes' common stock on July 15, 2015 at a rate of 1.40746 shares per TEU outstanding because our average share price during the pricing period as per the TEU agreement was greater than $17.75 . This conversion required us to issue approximately 5.2 million shares of common stock to the instrument holders subsequent to June 30, 2015 . Refer to Note 8 for a further discussion regarding the structure of these TEUs.

Borrowings

Borrowings	9 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Borrowings	Borrowings As of June 30, 2015 and September 30, 2014 , we had the following debt, net of discounts: (In thousands) Maturity Date June 30, 2015 September 30, 2014 8 1/8% Senior Notes June 2016 $ 172,879 $ 172,879 6 5/8% Senior Secured Notes April 2018 300,000 300,000 9 1/8% Senior Notes May 2019 235,000 235,000 5 3/4% Senior Notes June 2019 325,000 325,000 7 1/2% Senior Notes September 2021 200,000 200,000 7 1/4% Senior Notes February 2023 200,000 200,000 TEU Senior Amortizing Notes July 2015 1,712 6,703 Unamortized debt discounts (3,829 ) (4,399 ) Total Senior Notes, net $ 1,430,762 $ 1,435,183 Junior Subordinated Notes July 2036 57,287 55,737 Cash Secured Loans November 2017 22,368 22,368 Revolving Credit Facility September 2016 20,000 — Other secured notes payable Various Dates 23,790 22,145 Total debt, net $ 1,554,207 $ 1,535,433 Secured Revolving Credit Facility — Our $150 million Secured Revolving Credit Facility (the Facility) provides us with working capital and letter of credit capacity. On November 10, 2014, we executed an amendment with three of the four lenders, which extended the maturity date of the Facility by one additional year among other things. With this amendment, $130 million of the $150 million capacity will now mature in September 2016. One lender with a $20 million commitment chose not to extend its obligation, which is scheduled to mature in September 2015. The Facility allows us to issue letters of credit against the undrawn capacity. Subject to our option to cash collateralize our obligations under the Facility upon certain conditions, our obligations under the Facility are secured by liens on substantially all of our personal property and a significant portion of our owned real properties. We have also pledged approximately $1 billion of inventory assets to the Facility to collateralize potential future borrowings or letters of credit. As of June 30, 2015 , we had $20.0 million and $28.3 million in borrowings and letters of credit outstanding, respectively, leaving us with $101.7 million in remaining capacity under the Facility. The Facility contains certain covenants, including negative covenants and financial maintenance covenants, with which we are required to comply. As of June 30, 2015 , we were in compliance with all such covenants. Letter of Credit Facilities — We have entered into additional stand-alone, cash-secured letter of credit agreements with banks to maintain our pre-existing letters of credit and to provide for the issuance of new letters of credit. As of June 30, 2015 and September 30, 2014 , we had letters of credit outstanding under these additional facilities of $13.2 million and $39.1 million , respectively, all of which are secured by cash collateral in restricted accounts. The Company may enter into additional arrangements to provide further letter of credit capacity. Senior Notes — The majority of our Senior Notes are unsecured or secured obligations ranking pari passu with all other existing and future senior indebtedness. Substantially all of our significant subsidiaries are full and unconditional guarantors of the Senior Notes and are jointly and severally liable for obligations under the Senior Notes and the Facility. Each guarantor subsidiary is a 100% owned subsidiary of Beazer Homes. The Company's Senior Notes are issued under indentures that contain certain restrictive covenants which, among other things, restrict our ability to pay dividends, repurchase our common stock, incur additional indebtedness and to make certain investments. Specifically, all of our Senior Notes contain covenants that restrict our ability to incur additional indebtedness unless it is refinancing indebtedness or non-recourse indebtedness. The incurrence of refinancing indebtedness and non-recourse indebtedness, as defined in the applicable indentures, is exempted from the covenant test. Compliance with our Senior Note covenants does not significantly impact our operations. We were in compliance with the covenants contained in the indentures of all of our Senior Notes as of June 30, 2015 . Our Senior Notes due 2016 (the 2016 Notes) contain the most restrictive covenants, including a consolidated tangible net worth covenant, which states that should our consolidated tangible net worth fall below $85 million for two consecutive quarters, the Company is required to make an offer to purchase 10% of the aggregate principal amount of the original 2016 Notes. If triggered and fully subscribed, this could result in our having to purchase $27.5 million of the 2016 Notes, which may be reduced by certain 2016 Note repurchases (potentially at less than par) made in the open market after the triggering date. As of June 30, 2015 , our consolidated tangible net worth was $253.3 million , well in excess of the minimum covenant requirement. In April 2014, we issued and sold $325 million aggregate principal amount of 5.75% Senior Notes due June 2019 (the June 2019 Notes) at par (before underwriting and other issuance costs) through a private placement to qualified institutional buyers. Interest on the June 2019 Notes is payable semi-annually in arrears, beginning on December 15, 2014. The June 2019 Notes will mature on June 15, 2019. Prior to maturity, we may, at our option, redeem the June 2019 Notes at any time, in whole or in part, at specified redemption prices, which also include a customary make-whole premium provision through March 15, 2019. In July 2014, we exchanged 100% of the June 2019 Notes for notes that are freely transferable and registered under the Securities Act of 1933. The June 2019 Notes were issued on April 8, 2014 under an indenture (June 2019 Indenture) that contains covenants which, subject to certain exceptions, limit the ability of the Company and its restricted subsidiaries (as defined in the June 2019 Indenture) to, among other things, incur additional indebtedness, including secured indebtedness, and make certain types of restricted payments. The June 2019 Indenture contains customary events of default. Upon the occurrence of an event of default, payments on the June 2019 Notes may be accelerated and become immediately due and payable. Upon a change of control (as defined in the June 2019 Indenture), the June 2019 Indenture requires us to make an offer to repurchase the June 2019 Notes at 101% of their principal amount, plus accrued and unpaid interest. We may redeem the June 2019 Notes at any time prior to March 15, 2019, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium and accrued and unpaid interest to, but excluding, the redemption date. In addition, at any time on or prior to June 15, 2017, we may redeem up to 35% of the aggregate principal amount of the June 2019 Notes with the proceeds of certain equity offerings at a redemption price equal to 105.750% of the principal amount of the June 2019 Notes plus accrued and unpaid interest, if any, to, but excluding, the date fixed for redemption, provided that at least 65% of the aggregate principal amount of the June 2019 Notes originally issued under the June 2019 Indenture remain outstanding after such redemption. On or after March 15, 2019, we may redeem some or all of the June 2019 Notes at 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The proceeds from the June 2019 Notes were used to redeem all of our then outstanding Senior Notes due June 2018 (the June 2018 Notes), including the applicable $17.2 million make-whole premium. We recognized a loss on debt extinguishment of the June 2018 Notes of $19.8 million in the quarter ended June 30, 2014 related to the premiums paid and the write-off of unamortized debt issuance costs. The June 2018 Notes redeemed by the Company were canceled. For a further discussion of the Senior Notes issued prior to our fiscal 2014, refer to Note 7 to our audited consolidated financial statements within our 2014 Annual Report. All unsecured Senior Notes rank equally in right of payment with all of our existing and future senior unsecured obligations, senior to all of the Company's existing and future subordinated indebtedness and effectively subordinated to the Company's existing and future secured indebtedness, including indebtedness under the Facility and our 6.625% Senior Secured Notes due April 2018, to the extent of the value of the assets securing such indebtedness. The unsecured Senior Notes and related guarantees are structurally subordinated to all indebtedness and other liabilities of all of the Company's subsidiaries that do not guarantee these notes. The unsecured Senior Notes are fully and unconditionally guaranteed jointly and severally on a senior basis by the Company's wholly-owned subsidiaries party to each applicable Indenture. Senior Notes: Tangible Equity Units — In July 2012, we issued 4.6 million 7.5% TEUs (the 2012 TEUs), which were comprised of PSPs and senior amortizing notes. As the two components of the TEUs were legally separate and detachable, we accounted for the two components as separate items for financial reporting purposes and valued them based on their relative fair value at the date of issuance. The amortizing notes were unsecured senior obligations and ranked equally with all of our other unsecured indebtedness. Outstanding notes required quarterly payments of principal and interest through maturity. The PSPs were originally accounted for as equity (additional paid in capital) at the initial fair value of these contracts based on the relative fair value method. During the fiscal year ended September 30, 2014, we exchanged 890,000 TEUs, including approximately $2.4 million of amortizing notes, for Beazer Homes' common stock. The majority of PSPs related to the 2012 TEUs were settled in Beazer Homes' common stock on July 15, 2015. See Note 7 for more information related to this exchange. Junior Subordinated Notes — Our unsecured junior subordinated notes (Junior Subordinated Notes) in the amount of $103.1 million mature on July 30, 2036. The Junior Subordinated Notes are redeemable at par and pay interest at a fixed rate of 7.987% for the first ten years ending July 30, 2016. Thereafter, the securities have a floating interest rate as defined in the Junior Subordinated Notes Indenture. The obligations relating to these notes are subordinated to the Facility and Senior Notes. In January 2010, we modified the terms of $75.0 million of these notes and recorded them at their estimated fair value. Over the remaining life of the Junior Subordinated Notes, we will increase their carrying value until this carrying value equals the face value of the notes. As of June 30, 2015 , the unamortized accretion was $43.5 million and will be amortized over the remaining life of the notes. As of June 30, 2015 , we were in compliance with all covenants under our Junior Subordinated Notes. Cash Secured Loans — We have two separate cash secured loan facilities with $22.4 million outstanding as of June 30, 2015 . Borrowing under the cash secured loan facilities will replenish cash used to repay or repurchase the Company’s debt and would be considered “refinancing indebtedness” under certain of the Company’s existing indentures and debt covenants. However, because the loans are fully collateralized by cash equal to the loan amount, the loans do not provide liquidity to the Company. The loans mature in November 2017; however, the lenders of these facilities may put the outstanding loan balances to the Company at the two or four year anniversaries of the loans. Borrowings under the facilities are fully secured by cash held by the lender or its affiliates. This secured cash is reflected as restricted cash on our unaudited consolidated balance sheets as of June 30, 2015 and September 30, 2014 . The cash secured loans have a maximum interest rate equivalent to LIBOR plus 0.4% per annum, which is paid every three months following the effective date of each borrowing. Other Secured Notes Payable — We periodically acquire land through the issuance of notes payable. As of June 30, 2015 and September 30, 2014 , we had outstanding notes payable of $23.8 million and $22.1 million , respectively, primarily related to land acquisitions. These notes payable have varying expiration dates between 2016 and 2019 and have a weighted average fixed interest rate of 4.14% as of June 30, 2015 . These notes are secured by the real estate to which they relate. The agreements governing these secured notes payable contain various affirmative and negative covenants. There can be no assurance that we will be able to obtain any future waivers or amendments that may become necessary without significant additional cost or at all. In each instance, however, a covenant default can be cured by repayment of the indebtedness.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11), to provide guidance on the presentation of unrecognized tax benefits. ASU 2013-11 requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward with certain limited exceptions. ASU 2013-11 was effective for annual reporting periods beginning on or after December 15, 2013 and interim periods within those annual periods. The Company adopted this guidance in the quarter ended December 31, 2014, which was the first quarter of our fiscal 2015, with no significant impact to our financial statements. In the normal course of business, we are subject to audits by federal and state tax authorities regarding various tax liabilities. Our federal income tax returns for fiscal years 2011 through 2012 were agreed to with the IRS Appeals Office and approved by the Joint Committee on Taxation in the first quarter of our fiscal 2015. Certain state income tax returns for various fiscal years are under routine examination. The statute of limitations for our major tax jurisdictions remains open for examination for our fiscal year 2007 and subsequent years. As of June 30, 2015 , it is reasonably possible that up to $3.2 million of our total uncertain tax positions will reverse within the next twelve months, primarily due to the expiration of statutes of limitation in various jurisdictions. As of June 30, 2015 and September 30, 2014 , we had $0.5 million and $0.4 million , respectively, of accrued interest and penalties related to our unrecognized tax benefits. We experienced an “ownership change” as defined in Section 382 of the Internal Revenue Code (Section 382) as of January 12, 2010. Section 382 contains rules that limit the ability of a company that undergoes an “ownership change” to utilize its net operating loss carryforwards (NOLs) and certain built-in losses or deductions recognized during the five-year period after the ownership change to offset future taxable income. Therefore, our ability to utilize our pre-ownership change NOLs and recognize certain built-in losses or deductions is limited by Section 382 to an estimated maximum amount of approximately $11.4 million ( $4 million tax-effected) annually. Certain deferred tax assets are not subject to any limitation. Accordingly, a portion of our $459.3 million of total gross deferred tax assets may be unavailable due to the limitation imposed by Section 382 and the maximum carryforward period of our NOLs. Previously, we provided a range of gross deferred tax assets that may be unavailable based on estimates of activity occurring in the five-year period following our “ownership change.” As of June 30, 2015 , we have determined the impact and classification of these amounts, which is incorporated into the table below. The actual realization of our deferred tax assets is difficult to predict and will be dependent on future events. At such time, we will remove any applicable deferred tax asset and corresponding valuation allowance, as appropriate. Changes in existing tax laws could also affect actual tax results and the valuation of deferred tax assets. Considering the limitation imposed by Section 382, the table below depicts the classifications of our deferred tax assets as of June 30, 2015 : (In thousands) June 30, 2015 Deferred tax assets: Subject to annual limitation $ 93,741 Generally not subject to annual limitation 365,563 Total deferred tax assets 459,304 Deferred tax liabilities (43,496 ) Net deferred tax assets before valuation allowance 415,808 Valuation allowance (415,762 ) Net deferred tax assets $ 46 Based upon an evaluation of all available evidence, we established a valuation allowance for substantially all of our deferred tax assets during our fiscal 2008. As of June 30, 2015 , we continued our evaluation of whether the valuation allowance against our deferred tax assets was still required. We considered positive evidence, including evidence of recovery in the housing markets where we operate, the prospects of continued profitability and growth, a strong backlog and sufficient balance sheet liquidity to sustain and grow operations. Although the Company’s performance and current positioning is bringing it closer to a conclusion that a valuation allowance is no longer needed, further evidence of sustained profitability is needed to reverse all or a portion of our valuation allowance against our deferred tax assets. Therefore, based upon all available positive and negative evidence, we concluded a valuation allowance is still needed for substantially all of our gross deferred tax assets as of June 30, 2015 . The Company's deferred tax asset valuation allowance was $415.8 million and $445.2 million as of June 30, 2015 and September 30, 2014 , respectively. In a near future period, we expect to reduce a portion of our valuation allowance, generating a non-cash tax benefit that will have a material impact on net income and stockholders' equity, if sufficient positive evidence is present indicating that it is more likely than not that a portion of our deferred tax assets will be realized.

Contingencies

Contingencies	9 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Beazer Homes and certain of our subsidiaries have been and continue to be named as defendants in various construction defect claims, complaints and other legal actions. The Company is subject to the possibility of loss contingencies arising from its business. In determining loss contingencies, we consider the likelihood of loss as well as the ability to reasonably estimate the amount of such loss or liability. An estimated loss is recorded when it is considered probable that a liability has been incurred and the amount of loss can be reasonably estimated. Warranty Reserves. We currently provide a limited warranty (ranging from one to two years) covering workmanship and materials per our defined performance quality standards. In addition, we provide a limited warranty (generally ranging from a minimum of five years up to the period covered by the applicable statute of repose) covering only certain defined construction defects. We also provide a defined structural element warranty with single-family homes and townhomes in certain states. Our homebuilding work is performed by subcontractors that typically must agree to indemnify us with regard to their work and provide us with certificates of insurance demonstrating that they have met our insurance requirements and that we are named as an additional insured under their policies. Therefore, many claims relating to workmanship and materials that result in warranty spending are the primary responsibility of these subcontractors. In addition, we maintain insurance coverage related to our construction efforts that can result in recoveries of warranty and construction defect costs above certain specified limits. Our warranty reserves are included in other liabilities on our unaudited consolidated balance sheets and the provision for warranty accruals is included in home construction expenses in our unaudited consolidated statements of income. We record reserves covering anticipated warranty expense for each home we close. Management reviews the adequacy of warranty reserves each reporting period based on historical experience and management’s estimate of the costs to remediate the claims and adjusts these provisions accordingly. Our review includes a quarterly analysis of the historical data and trends in warranty expense by division. An analysis by division allows us to consider market specific factors such as our warranty experience, the number of home closings, the prices of homes, product mix and other data in estimating our warranty reserves. In addition, our analysis also contemplates the existence of any non-recurring or community-specific warranty-related matters that might not be included in our historical data and trends. While we adjust our estimated warranty liabilities each reporting period to the extent required as a result of our quarterly analyses, historical data and trends may not accurately predict actual warranty costs which could lead to a significant change in the reserve. Changes in our warranty reserves are as follows for the periods presented: Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Balance at beginning of period $ 28,794 $ 12,561 $ 16,084 $ 11,663 Accruals for warranties issued (a) 2,935 1,517 6,090 3,687 Changes in liability related to warranties existing in prior periods (b) 7,058 2,459 27,813 5,682 Payments made (b) (7,963 ) (2,756 ) (19,163 ) (7,251 ) Balance at end of period $ 30,824 $ 13,781 $ 30,824 $ 13,781 (a) Accruals for warranties issued is a function of the number of home closings in the period, the average selling prices of the homes closed and the rates of accrual per home estimated as a percentage of the selling price of the home. The increase in the amount of accrual in the current three-month and nine-month periods compared to the comparable prior-year periods is due to an increase in the average selling prices of homes closed in the respective periods, as well as increases in certain divisions' accrual rates. (b) Changes in liability related to warranties existing in prior periods and payments made increased in the current three-month and nine -month periods primarily due to charges and subsequent payments related to water intrusion issues in certain of our communities located in Florida. Refer to separate discussion of these issues below. Florida and New Jersey Water Intrusion Issues In the latter portion of fiscal 2014, we experienced an increase in calls from homeowners reporting stucco and water intrusion issues in certain of our communities in Florida and New Jersey. Through June 30, 2015 , we have cumulatively recorded $28.9 million in charges related to these issues, of which $28.3 million related to communities in Florida and $0.6 million related to one community in New Jersey. Refer to discussion below for further detail. Florida. The issues in Florida (the Florida stucco issues) relate to stucco installation in several communities. Through September 30, 2014, we had identified a total of 135 homes that we believed were likely to require more than minor repairs and recorded an associated warranty charge of $4.3 million . We had resolved repairs on 11 of those homes resulting in payments of $0.3 million . We consider warranty-related repairs for homes to be resolved when all repairs are complete and all repair costs are fully paid. As of September 30, 2014, our warranty liability included $4.0 million for the amount of estimated repair costs for the remaining 124 homes, as well as an estimate of repair costs for homes that were likely to be identified in the future. At that time, we believed the issues were isolated to a limited number of specific house plans in several specific communities. Throughout fiscal 2015, with many homeowners seeing an increased level of warranty-related activities occurring in their communities, the number of stucco and water-related warranty calls in Florida increased significantly. This led us to expand the scope of our inspections, including to homes and communities from which no warranty calls had been received. This enhanced review, together with our growing experience repairing homes previously identified, resulted in us determining that more homes and communities in Florida were likely to be adversely affected. Based on all of these activities and our resulting analysis, we recorded additional warranty expense of $6.1 million and $24.0 million during the three and nine months ended June 30, 2015 , respectively, related to the Florida stucco issues. As of June 30, 2015 , 486 homes have been identified likely to require repairs, of which 116 homes have been repaired. We made payments related to the Florida stucco issues of $4.5 million and $9.2 million for the three and nine months ended June 30, 2015 , respectively. After considering repair costs already paid, the remaining accrual to cover outstanding payments and potential repair costs for homes impacted by the Florida stucco issues is $18.8 million as of June 30, 2015 , which is included in our overall warranty liability detailed above. Our assessment of the Florida stucco issues is ongoing. As a result, we anticipate that our assessment as to the ultimate magnitude of our liability may change as additional information is obtained. We believe that we will recover a portion of our repair costs related to the Florida stucco issues from various sources, including the subcontractors involved with the construction of these homes and their insurers; however, no amounts related to subcontractor recoveries have been recorded in our unaudited consolidated financial statements as of June 30, 2015 . New Jersey. The water intrusion issues in New Jersey related to flashing and stone installation in one specific community. These homes had an average age of eight years. No new homes were identified in New Jersey during the first nine months of fiscal 2015. As of June 30, 2015 , we believe the remaining warranty liability for New Jersey is sufficient to cover the probable cost of the repair effort remaining to resolve the issues in that community and is not material. Insurance Recoveries The Company has entered into contracts with a third-party insurance provider which allow for the recovery of certain warranty costs incurred by us above a specified threshold for each period covered. Due to the significant costs we have incurred related to the Florida stucco issues, as well as other warranty issues that arise in the ordinary course of our homebuilding business which have not been separately discussed, we have surpassed these thresholds for certain contract years. As such, we expect additional costs incurred in the current quarter and in future periods for further warranty work on homes within these contract years to be reimbursed by our insurer. Warranty expense beyond the thresholds set in our insurance contracts was recorded related to homes impacted by the Florida stucco issues, as well as other various warranty issues, resulting in our recording of $7.3 million and $13.0 million in insurance recoveries during the three and nine months ended June 30, 2015 , respectively, that we deem to be probable of receiving. Of these expected recovery amounts, $6.1 million and $10.4 million for the three and nine months ended June 30, 2015 , respectively, is associated with the incremental expense from the Florida stucco issues, while the remainder relates to expenditures for other warranty issues that are also in excess of our insurance thresholds. Amounts recorded for anticipated insurance recoveries are reflected within our unaudited consolidated statement of income as a reduction of our current quarter home construction expenses, and have been recorded on a gross basis as a receivable within accounts receivable on our unaudited consolidated balance sheet as of June 30, 2015 . In July 2015, we received our first reimbursement from our insurance provider as payment under our policies. Amounts to be recovered under our insurance plans will vary based on whether additional warranty costs are incurred for periods for which our threshold has already been met. As a result, we anticipate the balance of our established receivable for insurance recoveries to fluctuate for potential future reimbursements, as well as the payments ultimately received from our insurer. Litigation In the normal course of business, we are subject to various lawsuits. We cannot predict or determine the timing or final outcome of these lawsuits or the effect that any adverse findings or determinations in pending lawsuits may have on us. In addition, an estimate of possible loss or range of loss, if any, cannot presently be made with respect to certain of these pending matters. An unfavorable determination in any of the pending lawsuits could result in the payment by us of substantial monetary damages, which may not be fully covered by insurance. Further, the legal costs associated with the lawsuits and the amount of time required to be spent by management and the Board of Directors on these matters, even if we are ultimately successful, could have a material adverse effect on our financial condition, results of operations or cash flows. Other Matters On July 1, 2009, we entered into a Deferred Prosecution Agreement and associated Bill of Information (the “DPA”) with the United States Attorney for the Western District of North Carolina and a separate but related agreement with the United States Department of Housing and Urban Development (the HUD Agreement) and the Civil Division of the United States Department of Justice. We have satisfied our obligations under the DPA and in July 2014 the United States District Court for the Western Division of North Carolina dismissed the Bill of Information. However, under these agreements, we are obligated to make payments equal to 4% of “adjusted EBITDA,” as defined in the agreements, until the earlier of (a) September 30, 2016 or (b) the date that a cumulative $48.0 million has been paid pursuant to the DPA and the HUD Agreement. As of June 30, 2015 , we have paid a cumulative $22.7 million related to the DPA and the HUD Agreement. Additionally, we have a liability of $4.6 million recorded on our unaudited consolidated balance sheet as of June 30, 2015 related to the DPA and the HUD agreement, $1.7 million and $2.5 million of which were accrued for during the three and nine months ended June 30, 2015 , respectively. We and certain of our subsidiaries have been named as defendants in various claims, complaints and other legal actions, most relating to construction defects, moisture intrusion and product liability. Certain of the liabilities resulting from these actions are covered in whole or in part by insurance. In our opinion, based on our current assessment, the ultimate resolution of these matters, excluding the Florida stucco issues previously discussed, will not have a material adverse effect on our financial condition, results of operations or cash flows. We have accrued $11.9 million and $13.4 million in other liabilities on our unaudited consolidated balance sheets related to litigation and other matters, excluding warranty, as of June 30, 2015 and September 30, 2014 , respectively. We had outstanding letters of credit and performance bonds of approximately $41.5 million and $217.4 million , respectively, as of June 30, 2015 , related principally to our obligations to local governments to construct roads and other improvements in various developments. We have an immaterial amount of outstanding letters of credit relating to our land option contracts as of June 30, 2015 .

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements As of June 30, 2015 , we had assets on our unaudited consolidated balance sheet that were required to be measured at fair value on a recurring or non-recurring basis. We use a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value as follows: • Level 1 – Quoted prices in active markets for identical assets or liabilities; • Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly through corroboration with market data; and • Level 3 – Unobservable inputs that reflect our own estimates about the assumptions market participants would use in pricing the asset or liability. Certain of our assets are required to be recorded at fair value on a recurring basis. The fair value of our deferred compensation plan assets are based on market-corroborated inputs and have therefore been classified as Level 2. Certain of our assets are required to be recorded at fair value on a non-recurring basis when events and circumstances indicate that the carrying value of these assets may not be recovered. We review our long-lived assets, including inventory, for recoverability when factors indicate impairment may exist, but no less than quarterly. Fair value is based on estimated cash flows discounted for market risks associated with the long-lived assets. The fair values of our investments in unconsolidated entities are determined primarily using a discounted cash flow model to value the underlying net assets of the respective entities. See Notes 2 and 5 for additional information related to the fair value accounting for the assets listed below. Determining which hierarchical level an asset or liability falls within requires significant judgment. We evaluate our hierarchy disclosures each quarter. The following table presents our assets measured at fair value on a recurring and non-recurring basis for each hierarchy level and represents only those assets whose carrying values were adjusted to fair value during the nine months ended June 30, 2015 and 2014 : (In thousands) Level 1 Level 2 Level 3 Total Nine Months Ended June 30, 2015 Deferred compensation plan assets (a) $ — $ 618 $ — $ 618 Land held for sale (b) — — 1,148 1,148 Nine Months Ended June 30, 2014 Deferred compensation plan assets (a) $ — $ 463 $ — $ 463 Land held for sale (b) — — 6,730 6,730 (a) Measured at fair value on a recurring basis. (b) Measured at fair value on a non-recurring basis. The fair value of our cash and cash equivalents, restricted cash, accounts receivable, trade accounts payable, other liabilities, cash secured loans, amounts due under the Facility, and other secured notes payable approximate their carrying amounts due to the short maturity of these assets and liabilities. If outstanding, obligations related to land not owned under option agreements approximate fair value. The following table presents the carrying values and estimated fair values of our other financial liabilities as of June 30, 2015 and September 30, 2014 : (In thousands) As of June 30, 2015 As of September 30, 2014 Carrying Fair Value Carrying Fair Value Senior Notes $ 1,430,762 $ 1,454,719 $ 1,435,183 $ 1,462,899 Junior Subordinated Notes 57,287 57,287 55,736 55,736 $ 1,488,049 $ 1,512,006 $ 1,490,919 $ 1,518,635 The estimated fair value shown above for our publicly-held Senior Notes has been determined using quoted market rates (Level 2). Since there is no trading market for our Junior Subordinated Notes, the fair value of these notes is estimated by discounting scheduled cash flows through maturity (Level 3). The discount rate is estimated using market rates currently being offered on loans with similar terms and credit quality. Judgment is required in interpreting market data to develop these estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that we could realize in a current market exchange.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation For the three and nine months ended June 30, 2015 , our total stock-based compensation included in general and administrative expenses (G&A) in our unaudited consolidated statements of income was approximately $1.6 million ( $1.2 million net of tax) and $4.6 million ( $3.4 million net of tax), respectively. The fair value of each stock option and stock-settled appreciation rights (SSARs) granted is estimated on the date of grant using the Black-Scholes option-pricing model (Black-Scholes Model). The fair value of each performance-based stock grant is estimated on the date of grant using the Monte Carlo valuation method. The cash-settled component of any awards granted to employees are accounted for as a liability award and the liability is adjusted to fair value each reporting period until vested. Non-performance based stock is valued based on the market price of the common stock on the date of the grant. During the nine months ended June 30, 2015 and 2014 , employees surrendered 10,302 and 23,602 shares, respectively, to us in payment of minimum tax obligations upon the vesting of stock awards under our stock incentive plans. We valued the stock at the market price on the date of surrender, for an aggregate value of approximately $192,000 and $450,000 for the nine months ended June 30, 2015 and 2014 , respectively. Stock Options: The intrinsic value of a stock option/SSAR is the amount by which the market value of the underlying stock exceeds the exercise price. As of June 30, 2015 , our stock options/SSARs outstanding had an intrinsic value of $2.1 million . The stock options/SSARs vested and expected to vest in the future had a weighted average expected life of 2.2 years . The aggregate intrinsic value of exercisable stock options/SSARs as of June 30, 2015 was $1.7 million . Activity related to stock options/SSARs for the periods presented is as follows: Three Months Ended Nine Months Ended June 30, 2015 June 30, 2015 Shares Weighted- Shares Weighted- Outstanding at beginning of period 646,630 $ 18.12 650,233 $ 18.12 Exercised (753 ) 12.07 (1,209 ) 12.07 Forfeited (815 ) 17.81 (3,962 ) 19.81 Outstanding at end of period 645,062 $ 18.13 645,062 $ 18.13 Exercisable at end of period 491,699 $ 18.40 491,699 $ 18.40 Vested or expected to vest in the future 645,032 $ 18.13 645,032 $ 18.13 Stock Awards: Compensation cost arising from stock awards granted to employees is recognized as an expense within G&A expenses in our unaudited consolidated statements of income using the straight-line method over the vesting period. As of June 30, 2015 and September 30, 2014 , there was $13.2 million and $10.0 million , respectively, of total unrecognized compensation cost related to nonvested stock awards included in paid-in capital. The cost remaining at June 30, 2015 is expected to be recognized over a weighted average period of 2.7 years . During the nine months ended June 30, 2015 , we issued 201,157 shares of performance-based restricted stock (Performance Shares) to our executive officers and certain other corporate employees. The first type of Performance Shares granted requires a total shareholder return (TSR) that compares favorably against an 11-member peer group measured at the end of a three -year performance period (TSR Performance Shares). The number of TSR Performance Shares that actually vest will range from 0% to 150% of the target number, based on the Company’s TSR ranking relative to its peer group during the three -year performance period. TSR calculations for the Company and the peer group companies are based on the average closing price of the Company’s common stock on the NYSE for the 20 trading days immediately preceding (i) the start of the performance period (October 1, 2014) and (ii) the end of the performance period (September 30, 2017). The grants of the TSR Performance Shares were valued using the Monte Carlo valuation model and had an estimated fair value of $19.90 per share. A Monte Carlo valuation model requires the following inputs: (1) the expected dividend yield on the underlying stock; (2) the expected price volatility of the underlying stock; (3) the risk-free interest rate for the period corresponding with the expected term of the award; and (4) the fair value of the underlying stock. For the Company and each member of the peer group, the following inputs were used, as applicable, in the Monte Carlo valuation model to determine the fair value as of the grant date for the TSR Performance Shares: 0% dividend yield for the Company, expected price volatility ranging from 29.0% to 185.8% and a risk-free interest rate of 0.94% . The methodology used to determine these assumptions is similar to the Black-Scholes Model; however, the expected term is determined by the model in the Monte Carlo simulation. The second type of Performance Shares granted are structured to require absolute performance measured by the Company’s fiscal year 2017 pre-tax income (PTI), defined as the Company’s income from continuing operations before taxes and excluding impairments and abandonments, bond losses and such other non-recurring items as the Compensation Committee of our Board of Directors may approve (PTI Performance Shares). The PTI Performance Shares will vest in 2017, subject to determination of the Company’s actual pre-tax income performance. The PTI Performance Shares will be fully earned at a target pre-tax income level, with a 50% payout at the threshold level of pre-tax income and a 200% payout at the maximum level of pre-tax income. Once the threshold 2017 pre-tax income performance level is achieved, to the extent the actual 2017 pre-tax income performance is between the threshold and target performance levels, or between the target and maximum performance levels, linear interpolation between the award opportunity percentages will be applied to determine the actual payout. Performance Shares in excess of the target number ( 201,157 ) may be settled in cash or additional shares at the discretion of the Compensation Committee. Any portion of the Performance Shares that do not vest at the end of the period will be forfeited. Activity relating to stock awards, including the Performance Shares, for the periods presented is as follows: Three Months Ended Nine Months Ended June 30, 2015 June 30, 2015 Shares Weighted Shares Weighted Beginning of period 953,608 $ 18.29 746,567 $ 15.76 Granted 19,322 17.85 410,192 19.01 Vested (1,641 ) 18.27 (64,719 ) 15.96 Forfeited (7,059 ) 18.97 (127,810 ) 7.09 End of period 964,230 $ 18.28 964,230 $ 18.28

Other Liabilities

Other Liabilities	9 Months Ended
	Jun. 30, 2015
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities Other liabilities include the following as of June 30, 2015 and September 30, 2014 : (In thousands) June 30, 2015 September 30, 2014 Accrued warranty expense $ 30,824 $ 16,084 Accrued interest 20,671 34,645 Customer deposits 19,662 11,977 Accrued bonuses and deferred comp 17,138 24,270 Litigation accrual 11,888 13,401 Income tax liabilities 2,112 5,576 Other 33,997 36,563 Total $ 136,292 $ 142,516

Segment Information

Segment Information	9 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information We currently operate in 15 states which are grouped into three homebuilding segments based on geography. Revenues in our homebuilding segments are derived from the sale of homes which we construct and from land and lot sales. Our reportable segments have been determined on a basis that is used internally by management for evaluating segment performance and resource allocations. We have considered the applicable aggregation criteria, and have combined our homebuilding operations into the three reportable segments as follows: West : Arizona, California, Nevada and Texas East : Delaware, Indiana, Maryland, New Jersey, Pennsylvania, Tennessee (Nashville) and Virginia Southeast : Florida, Georgia, North Carolina (Raleigh) and South Carolina Management’s evaluation of segment performance is based on segment operating income. Operating income for our homebuilding segments is defined as homebuilding, land sale and other revenues less home construction, land development and land sale expense, commission expense, depreciation and amortization and certain G&A expenses which are incurred by or allocated to our homebuilding segments. The accounting policies of our segments are described in Note 1 to our consolidated financial statements in our 2014 Annual Report. The following tables contain our revenue, operating income (loss) and depreciation and amortization by segment for the periods presented: Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Revenue West $ 149,129 $ 136,906 $ 351,975 $ 381,368 East 155,160 128,358 363,152 319,313 Southeast 125,149 89,407 279,434 217,181 Total revenue $ 429,438 $ 354,671 $ 994,561 $ 917,862 Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Operating income West $ 16,246 $ 18,754 $ 33,628 $ 48,854 East 15,344 10,438 28,457 21,667 Southeast 14,382 8,235 15,200 18,025 Segment total 45,972 37,427 77,285 88,546 Corporate and unallocated (a) (28,276 ) (22,339 ) (62,643 ) (56,309 ) Total operating income $ 17,696 $ 15,088 $ 14,642 $ 32,237 Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Depreciation and amortization West $ 1,267 $ 1,427 $ 3,299 $ 4,113 East 900 890 2,094 2,138 Southeast 793 521 1,817 1,270 Segment total 2,960 2,838 7,210 7,521 Corporate and unallocated (a) 537 562 1,409 1,617 Depreciation and amortization - continuing operations $ 3,497 $ 3,400 $ 8,619 $ 9,138 (a) Corporate and unallocated operating loss includes amortization of capitalized interest and expenses related to numerous shared services functions including information technology, treasury, corporate finance, legal, branding and other national marketing costs that benefit all segments, the costs of which are not allocated to the operating segments reported above. Corporate and unallocated depreciation and amortization represents depreciation and amortization related to assets held by corporate functions that benefit all segments. The following table contains our capital expenditures by segment for the periods presented: Nine Months Ended June 30, (In thousands) 2015 2014 Capital Expenditures West $ 4,959 $ 3,891 East 2,996 1,827 Southeast 2,653 1,498 Corporate and unallocated 1,822 1,768 Total capital expenditures $ 12,430 $ 8,984 The following table contains our asset balance by segment as of June 30, 2015 and September 30, 2014 : (In thousands) June 30, 2015 September 30, 2014 Assets West $ 884,235 $ 756,575 East 470,189 433,032 Southeast 355,729 299,215 Corporate and unallocated (a) 380,019 577,398 Total assets $ 2,090,172 $ 2,066,220 (a) Primarily consists of cash and cash equivalents, restricted cash, consolidated inventory not owned, deferred taxes, capitalized interest and other items that are not allocated to the segments.

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Guarantor information	Supplemental Guarantor Information As discussed in Note 8, our obligations to pay principal, premium, if any, and interest under certain debt issuances are guaranteed on a joint and several basis by substantially all of our subsidiaries. Certain of our immaterial subsidiaries do not guarantee our Senior Notes or the Facility. The guarantees are full and unconditional and the guarantor subsidiaries are 100% owned by Beazer Homes USA, Inc. The following unaudited financial information presents the line items of our unaudited consolidated financial statements separated by amounts related to our parent company, guarantor subsidiaries, non-guarantor subsidiaries, and consolidating adjustments as of or for the periods presented. Beazer Homes USA, Inc. Unaudited Consolidating Balance Sheet Information June 30, 2015 (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated ASSETS Cash and cash equivalents $ 112,142 $ 17,881 $ 970 $ (2,241 ) $ 128,752 Restricted cash 36,221 1,590 — — 37,811 Accounts receivable (net of allowance of $1,292) — 44,878 4 — 44,882 Income tax receivable 262 — — — 262 Owned inventory — 1,822,090 — — 1,822,090 Investments in unconsolidated entities and marketable securities 773 10,634 — — 11,407 Deferred tax assets, net 46 — — — 46 Property and equipment, net — 22,683 — — 22,683 Investments in subsidiaries 275,514 — — (275,514 ) — Intercompany 1,385,184 — 2,381 (1,387,565 ) — Other assets 13,643 8,506 90 — 22,239 Total assets $ 1,823,785 $ 1,928,262 $ 3,445 $ (1,665,320 ) $ 2,090,172 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $ — $ 127,063 $ — $ — $ 127,063 Other liabilities 20,758 114,924 610 — 136,292 Intercompany — 1,389,806 — (1,389,806 ) — Total debt (net of discounts of $3,829) 1,530,417 23,790 — — 1,554,207 Total liabilities 1,551,175 1,655,583 610 (1,389,806 ) 1,817,562 Stockholders’ equity 272,610 272,679 2,835 (275,514 ) 272,610 Total liabilities and stockholders’ equity $ 1,823,785 $ 1,928,262 $ 3,445 $ (1,665,320 ) $ 2,090,172 Beazer Homes USA, Inc. Unaudited Consolidating Balance Sheet Information September 30, 2014 (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated ASSETS Cash and cash equivalents $ 301,980 $ 22,034 $ 1,614 $ (1,474 ) $ 324,154 Restricted cash 61,945 996 — — 62,941 Accounts receivable (net of allowance of $1,245) — 34,428 1 — 34,429 Income tax receivable 46 — — — 46 Owned inventory — 1,557,496 — — 1,557,496 Consolidated inventory not owned — 3,857 — — 3,857 Investments in marketable securities and unconsolidated entities 773 37,568 — — 38,341 Deferred tax assets, net 2,823 — — — 2,823 Property and equipment, net — 18,673 — — 18,673 Investments in subsidiaries 253,540 — — (253,540 ) — Intercompany 1,195,349 — 2,405 (1,197,754 ) — Other assets 17,226 6,144 90 — 23,460 Total assets $ 1,833,682 $ 1,681,196 $ 4,110 $ (1,452,768 ) $ 2,066,220 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $ — $ 106,237 $ — $ — $ 106,237 Other liabilities 38,871 102,833 812 — 142,516 Intercompany 2,405 1,196,823 — (1,199,228 ) — Obligations related to land not owned under option agreements — 2,916 — — 2,916 Total debt (net of discounts of $4,399) 1,513,288 22,145 — — 1,535,433 Total liabilities 1,554,564 1,430,954 812 (1,199,228 ) 1,787,102 Stockholders’ equity 279,118 250,242 3,298 (253,540 ) 279,118 Total liabilities and stockholders’ equity $ 1,833,682 $ 1,681,196 $ 4,110 $ (1,452,768 ) $ 2,066,220 Beazer Homes USA, Inc. Unaudited Consolidating Statements of Income and Unaudited Comprehensive Income (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended June 30, 2015 Total revenue $ — $ 429,438 $ 33 $ (33 ) $ 429,438 Home construction and land sales expenses 13,548 339,566 — (33 ) 353,081 Inventory impairments and option contract abandonments — 249 — — 249 Gross (loss) profit (13,548 ) 89,623 33 — 76,108 Commissions — 17,246 — — 17,246 General and administrative expenses — 37,641 28 — 37,669 Depreciation and amortization — 3,497 — — 3,497 Operating (loss) income (13,548 ) 31,239 5 — 17,696 Equity in income of unconsolidated entities — 153 — — 153 Other (expense) income, net (5,955 ) 193 (1 ) — (5,763 ) (Loss) income before income taxes (19,503 ) 31,585 4 — 12,086 (Benefit from) provision for income taxes (7,204 ) 7,067 2 — (135 ) Equity in income of subsidiaries 24,520 — — (24,520 ) — Income (loss) from continuing operations 12,221 24,518 2 (24,520 ) 12,221 Loss from discontinued operations — (43 ) (3 ) — (46 ) Equity in loss of subsidiaries from discontinued operations (46 ) — — 46 — Net income (loss) and comprehensive income (loss) $ 12,175 $ 24,475 $ (1 ) $ (24,474 ) $ 12,175 Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended June 30, 2014 Total revenue $ — $ 354,671 $ 100 $ (100 ) $ 354,671 Home construction and land sales expenses 9,430 274,527 — (100 ) 283,857 Inventory impairments and option contract abandonments — 2,010 — — 2,010 Gross (loss) profit (9,430 ) 78,134 100 — 68,804 Commissions — 14,322 — — 14,322 General and administrative expenses — 35,967 27 — 35,994 Depreciation and amortization — 3,400 — — 3,400 Operating (loss) income (9,430 ) 24,445 73 — 15,088 Equity in loss of unconsolidated entities — (81 ) — — (81 ) Loss on extinguishment of debt (19,764 ) — — — (19,764 ) Other (expense) income, net (10,421 ) 216 — — (10,205 ) (Loss) income before income taxes (39,615 ) 24,580 73 — (14,962 ) (Benefit from) provision for income taxes (4,730 ) 2,935 26 — (1,769 ) Equity in income of subsidiaries 21,692 — — (21,692 ) — (Loss) income from continuing operations (13,193 ) 21,645 47 (21,692 ) (13,193 ) Income (loss) from discontinued operations — 842 (4 ) — 838 Equity in income of subsidiaries from discontinued operations 838 — — (838 ) — Net (loss) income and comprehensive (loss) income $ (12,355 ) $ 22,487 $ 43 $ (22,530 ) $ (12,355 ) Beazer Homes USA, Inc. Unaudited Consolidating Statements of Income and Unaudited Comprehensive Income (In thousands) Beazer Homes USA, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Beazer Homes USA, Inc. Nine Months Ended June 30, 2015 Total revenue $ — $ 994,561 $ 165 $ (165 ) $ 994,561 Home construction and land sales expenses 31,524 797,714 — (165 ) 829,073 Inventory impairments and option contract abandonments — 249 — — 249 Gross (loss) profit (31,524 ) 196,598 165 — 165,239 Commissions — 40,141 — — 40,141 General and administrative expenses — 101,749 88 — 101,837 Depreciation and amortization — 8,619 — — 8,619 Operating (loss) income (31,524 ) 46,089 77 — 14,642 Equity in income of unconsolidated entities — 377 — — 377 Other (expense) income, net (23,396 ) (270 ) (4 ) — (23,670 ) (Loss) income before income taxes (54,920 ) 46,196 73 — (8,651 ) (Benefit from) provision for income taxes (20,286 ) 19,533 27 — (726 ) Equity in income of subsidiaries 26,709 — — (26,709 ) — (Loss) income from continuing operations (7,925 ) 26,663 46 (26,709 ) (7,925 ) Loss from discontinued operations — (4,226 ) (10 ) — (4,236 ) Equity in loss of subsidiaries from discontinued operations (4,236 ) — — 4,236 — Net (loss) income $ (12,161 ) $ 22,437 $ 36 $ (22,473 ) $ (12,161 ) Change in unrealized loss related to available-for-sale securities 1,276 — — — 1,276 Comprehensive (loss) income $ (10,885 ) $ 22,437 $ 36 $ (22,473 ) $ (10,885 ) Beazer Homes USA, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Beazer Homes USA, Inc. Nine Months Ended June 30, 2014 Total revenue $ — $ 917,862 $ 279 $ (279 ) $ 917,862 Home construction and land sales expenses 23,944 715,630 — (279 ) 739,295 Inventory impairments and option contract abandonments — 2,921 — — 2,921 Gross (loss) profit (23,944 ) 199,311 279 — 175,646 Commissions — 37,239 — — 37,239 General and administrative expenses — 96,944 88 — 97,032 Depreciation and amortization — 9,138 — — 9,138 Operating (loss) income (23,944 ) 55,990 191 — 32,237 Equity in income of unconsolidated entities — 221 — — 221 Loss on extinguishment of debt (19,917 ) — — — (19,917 ) Other (expense) income, net (41,112 ) 1,427 (4 ) — (39,689 ) (Loss) income before income taxes (84,973 ) 57,638 187 — (27,148 ) (Benefit from) provision for income taxes (4,928 ) 3,079 66 — (1,783 ) Equity in income of subsidiaries 54,680 — — (54,680 ) — (Loss) income from continuing operations (25,365 ) 54,559 121 (54,680 ) (25,365 ) Loss from discontinued operations — (88 ) (11 ) — (99 ) Equity in loss of subsidiaries and discontinued operations (99 ) — — 99 — Net (loss) income and comprehensive (loss) income $ (25,464 ) $ 54,471 $ 110 $ (54,581 ) $ (25,464 ) Beazer Homes USA, Inc. Unaudited Condensed Consolidating Statements of Cash Flow (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Nine Months Ended June 30, 2015 Net cash used in operating activities $ (55,814 ) $ (182,157 ) $ (169 ) $ — $ (238,140 ) Cash flows from investing activities: Capital expenditures — (11,756 ) — — (11,756 ) Investments in unconsolidated entities — (2,651 ) — — (2,651 ) Proceeds from sale of marketable securities and unconsolidated entities — 24,245 — — 24,245 Increases in restricted cash (2,025 ) (1,781 ) — — (3,806 ) Decreases in restricted cash 27,750 1,186 — — 28,936 Advances to/from subsidiaries (169,563 ) — 25 169,538 — Net cash (used in) provided by investing activities (143,838 ) 9,243 25 169,538 34,968 Cash flows from financing activities: Repayment of debt (10,390 ) (1,544 ) — — (11,934 ) Borrowings from credit facility 50,000 — — — 50,000 Repayment of borrowings from credit facility (30,000 ) — — — (30,000 ) Debt issuance costs (126 ) — — — (126 ) Dividends paid 500 — (500 ) — — Advances to/from subsidiaries — 170,305 — (170,305 ) — Other financing activities (170 ) — — — (170 ) Net cash provided by (used in) financing activities 9,814 168,761 (500 ) (170,305 ) 7,770 Decrease in cash and cash equivalents (189,838 ) (4,153 ) (644 ) (767 ) (195,402 ) Cash and cash equivalents at beginning of period 301,980 22,034 1,614 (1,474 ) 324,154 Cash and cash equivalents at end of period $ 112,142 $ 17,881 $ 970 $ (2,241 ) $ 128,752 Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Nine Months Ended June 30, 2014 Net cash (used in) provided by operating activities $ (90,773 ) $ (198,873 ) $ 53 $ — $ (289,593 ) Cash flows from investing activities: Capital expenditures — (8,984 ) — — (8,984 ) Investments in unconsolidated entities — (4,567 ) — — (4,567 ) Return of capital from unconsolidated entities — 187 — — 187 Increases in restricted cash (8,915 ) (1,166 ) — — (10,081 ) Decreases in restricted cash 39 1,057 — — 1,096 Net cash used in investing activities (8,876 ) (13,473 ) — — (22,349 ) Cash flows from financing activities: Repayment of debt (303,448 ) (1,637 ) — — (305,085 ) Proceeds from issuance of new debt 325,000 — — — 325,000 Debt issuance costs (5,504 ) — — — (5,504 ) Advances to/from subsidiaries (214,598 ) 216,882 (50 ) (2,234 ) — Other financing activities (446 ) — — — (446 ) Net cash (used in) provided by financing activities (198,996 ) 215,245 (50 ) (2,234 ) 13,965 Decrease in cash and cash equivalents (298,645 ) 2,899 3 (2,234 ) (297,977 ) 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 $ 200,696 $ 9,223 $ 1,640 $ (5,077 ) $ 206,482

Discontinued Operations

Discontinued Operations	9 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations We continually review each of our markets in order to refine our overall investment strategy and to optimize capital and resource allocations in an effort to enhance our financial position and to increase shareholder value. This review entails an evaluation of both external market factors and our position in each market and over time has resulted in the decision to discontinue certain of our homebuilding operations. We have classified the results of operations of our discontinued operations separately in the accompanying unaudited consolidated statements of income for all periods presented. There were no material assets or liabilities related to our discontinued operations as of June 30, 2015 or September 30, 2014 . Discontinued operations were not segregated in the unaudited consolidated statements of cash flows. Therefore, amounts for certain captions in the unaudited consolidated statements of cash flows will not agree with the respective data in the unaudited consolidated statements of income. The results of our discontinued operations in the unaudited consolidated statements of income for the periods presented were as follows: Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Total revenue $ 750 $ — $ 1,030 $ 464 Home construction and land sales expenses (a) 901 (1,343 ) 4,957 1,609 Gross profit (loss) (151 ) 1,343 (3,927 ) (1,145 ) General and administrative expenses (b) (104 ) 397 314 (1,164 ) Operating income (loss) (47 ) 946 (4,241 ) 19 Other income (expense), net (1 ) — — — Income (loss) from discontinued operations before income taxes (48 ) 946 (4,241 ) 19 (Benefit from) provision for income taxes (2 ) 108 (5 ) 118 Income (loss) from discontinued operations, net of tax $ (46 ) $ 838 $ (4,236 ) $ (99 ) (a) The nine months ended June 30, 2015 includes a $3.7 million expense related to the probable liability of a case regarding alleged past construction defects in our discontinued operations in Denver, Colorado. (b) The nine months ended June 30, 2014 includes approximately $1.9 million of recoveries received for legal fees related to outstanding matters in Denver, Colorado.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation. These unaudited consolidated financial statements present the consolidated financial position, income, comprehensive income and cash flows of the Company and our subsidiaries. Intercompany balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make informed estimates and judgments that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Accordingly, actual results could differ from these estimates.
Inventory Valuation	Inventory Valuation. We assess our inventory assets no less than quarterly for recoverability in accordance with the policies described in Notes 1 and 4 to the consolidated financial statements in our 2014 Annual Report. Our homebuilding inventories that are accounted for as held for development include land and home construction assets grouped together as communities. Homebuilding inventories held for development are stated at cost (including direct construction costs, capitalized indirect costs, capitalized interest and real estate taxes) unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. For those communities for which construction and development activities are expected to occur in the future or have been idled (land held for future development), all applicable interest and real estate taxes are expensed as incurred and the inventory is stated at cost unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. We record assets held for sale at the lower of the carrying value or fair value less costs to sell.
New Accounting Pronouncements	Recent Accounting Pronouncements. Revenue from Contracts with Customers. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (ASU 2014-09) . ASU 2014-09 requires companies to recognize revenue at an amount that the entity expects to be entitled to upon transferring control of goods or services to a customer, as opposed to when risks and rewards transfer to a customer under the existing revenue recognition guidance. The FASB has deferred for one year the effective date of ASU 2014-09, which makes the guidance effective for the Company's first fiscal year beginning after December 15, 2017. Additionally, the FASB also is permitting entities to early adopt the standard, which allows for either full retrospective or modified retrospective methods of adoption, for reporting periods beginning after December 15, 2016. We are currently evaluating the impact of ASU 2014-09 on our consolidated financial statements. Presentation of Debt Issuance Costs. In April 2015, the FASB issued ASU 2015-03, Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs (ASU 2015-03) . ASU 2015-03 requires debt issuance costs to be presented on the balance sheet as a direct deduction from the related debt liability, similar to the presentation of debt discounts or premiums. The costs will continue to be amortized to interest expense. ASU 2015-03 requires retrospective application to all prior periods presented in the financial statements. Upon transition, an entity is required to comply with the applicable disclosures for a change in accounting principle. The guidance within ASU 2015-03 will be effective for the Company's first fiscal year beginning after December 15, 2015, but we have the option of adopting the new requirements as of an earlier date. We are evaluating the impact of ASU 2015-03, but only expect our balance sheet presentation of debt issuance costs to change as a result.
Income Tax, Policy	In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11), to provide guidance on the presentation of unrecognized tax benefits. ASU 2013-11 requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward with certain limited exceptions. ASU 2013-11 was effective for annual reporting periods beginning on or after December 15, 2013 and interim periods within those annual periods. The Company adopted this guidance in the quarter ended December 31, 2014, which was the first quarter of our fiscal 2015, with no significant impact to our financial statements.

Supplemental Cash Flow Inform23

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental disclosure of non-cash activity	The following table presents supplemental disclosure of non-cash and cash activity for the periods presented: Nine Months Ended June 30, (In thousands) 2015 2014 Supplemental disclosure of non-cash activity: Decrease in obligations related to land not owned under option agreements $ (2,916 ) $ (1,617 ) Decrease in debt related to conversion of Mandatory Convertible Subordinated Notes and Tangible Equity Units for common stock (1 ) (2,376 ) Non-cash land acquisitions (a) 12,904 20,207 Non-cash capital expenditure 674 — Supplemental disclosure of cash activity: Interest payments 99,434 100,040 Income tax payments 474 174 (a) For the nine months ended June 30, 2015 , non-cash land acquisitions are comprised of $7.8 million related to non-cash seller financing and $5.1 million in lot takedowns from one of our unconsolidated land development joint ventures.

Investments in Marketable Sec24

Investments in Marketable Securities and Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investments in unconsolidated joint ventures, total equity and outstanding borrowings	The following table presents our investment in these unconsolidated entities, as well as the total equity and outstanding borrowings of these unconsolidated entities as of June 30, 2015 and September 30, 2014 : (In thousands) June 30, 2015 September 30, 2014 Beazer’s investment in unconsolidated entities $ 11,407 $ 13,576 Total equity of unconsolidated entities 40,226 59,336 Total outstanding borrowings of unconsolidated entities 11,834 11,254 For the three and nine months ended June 30, 2015 and 2014 , there were no impairments related to our investments in these unconsolidated entities. Our equity in income (loss) from unconsolidated entity activities is as follows for the periods presented: Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Equity in income (loss) of unconsolidated entities $ 153 $ (81 ) $ 377 $ 221

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Schedule of Inventory	The components of our owned inventory are as follows as of June 30, 2015 and September 30, 2014 : (In thousands) June 30, 2015 September 30, 2014 Homes under construction $ 508,853 $ 282,095 Development projects in progress 792,662 786,768 Land held for future development 270,619 301,048 Land held for sale 56,203 51,672 Capitalized interest 123,712 87,619 Model homes 70,041 48,294 Total owned inventory $ 1,822,090 $ 1,557,496
Schedule of Total Owned Inventory, by Segment	Total owned inventory, by reportable segment, is presented in the table below as of June 30, 2015 and September 30, 2014 : (In thousands) Projects in Progress (a) Land Held for Future Development Land Held for Sale Total Owned Inventory June 30, 2015 West Segment $ 626,772 $ 230,481 $ 8,268 $ 865,521 East Segment 392,716 29,215 32,057 453,988 Southeast Segment 303,225 10,923 14,778 328,926 Corporate and unallocated 172,555 (b) — 1,100 173,655 Total $ 1,495,268 $ 270,619 $ 56,203 $ 1,822,090 September 30, 2014 West Segment $ 462,508 $ 260,898 $ 10,026 $ 733,432 East Segment 353,859 29,239 34,530 417,628 Southeast Segment 264,843 10,911 4,821 280,575 Corporate and unallocated 123,566 (b) — 2,295 125,861 Total $ 1,204,776 $ 301,048 $ 51,672 $ 1,557,496 (a) Projects in progress include homes under construction, development projects in progress, capitalized interest, and model home categories from the preceding table. (b) Includes capitalized interest and indirect costs that are maintained within our Corporate and unallocated.
Recoverability Schedule of Inventory Assets Held for Development, by Reportable Segment	The following table represent the results, by reportable segment, of our community level review of the recoverability of our inventory assets related to projects in progress as of June 30, 2014 : (In thousands) Undiscounted Cash Flow Analyses Prepared Segment # of # of Pre-analysis Aggregate Quarter Ended June 30, 2014 West 3 2 $ 12,215 103.7 % Southeast 1 — — — % Total 4 2
Schedule of Inventory Impairments and Lot Option Abandonment Charges, by Reportable Homebuilding Segment	The following table presents, by reportable homebuilding segment, our land held for sale inventory impairments and lot option abandonment charges for the periods presented: Three Months Ended June 30, Nine Months Ended June 30, (In thousands) 2015 2014 2015 2014 Land Held for Sale East $ 249 $ 201 $ 249 $ 232 Southeast — — — 28 Subtotal $ 249 $ 201 $ 249 $ 260 Lot Option Abandonments East $ — $ 156 $ — $ 156 Southeast — 1,653 — 2,505 Subtotal — 1,809 — 2,661 Total Company $ 249 $ 2,010 $ 249 $ 2,921
Summary of Interests in Lot Option Agreements	The following provides a summary of our interests in lot option agreements as of June 30, 2015 and September 30, 2014 : (In thousands) Deposits & Non-refundable Pre-acquisition Costs Incurred Remaining Obligation Land Not Owned Under Option Agreements As of June 30, 2015 Unconsolidated lot option agreements $ 51,971 $ 448,809 N/A (a) Total lot option agreements $ 51,971 $ 448,809 $ — As of September 30, 2014 Consolidated VIEs $ 941 $ 2,916 $ 3,857 Unconsolidated lot option agreements 42,588 417,618 N/A Total lot option agreements $ 43,529 $ 420,534 $ 3,857 (a) N/A - not applicable.

Interest (Tables)

Interest (Tables)	9 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Real Estate Inventory, Capitalized Interest Costs	The following table presents certain information regarding interest for the periods presented: Three Months Ended June 30, Nine Months Ended June 30, (In thousands) 2015 2014 2015 2014 Capitalized interest in inventory, beginning of period $ 112,476 $ 72,256 $ 87,619 $ 52,562 Interest incurred 30,748 31,678 91,290 96,577 Interest expense not qualified for capitalization and included as other expense (a) (5,954 ) (10,421 ) (23,396 ) (41,112 ) Capitalized interest amortized to house construction and land sales expenses (b) (13,558 ) (9,430 ) (31,801 ) (23,944 ) Capitalized interest in inventory, end of period $ 123,712 $ 84,083 $ 123,712 $ 84,083

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The weighted-average number of common shares outstanding used to calculate basic income per share is reconciled to shares used to calculate diluted income per share as follows for the period presented. Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2015 2014 2015 2014 Basic shares 26,482 26,421 26,473 25,582 Shares issuable upon conversion of TEUs 5,221 — — — Shares issuable upon vesting/exercise of stock awards/options 97 — — — Diluted shares 31,800 26,421 26,473 25,582

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of long-term debt	As of June 30, 2015 and September 30, 2014 , we had the following debt, net of discounts: (In thousands) Maturity Date June 30, 2015 September 30, 2014 8 1/8% Senior Notes June 2016 $ 172,879 $ 172,879 6 5/8% Senior Secured Notes April 2018 300,000 300,000 9 1/8% Senior Notes May 2019 235,000 235,000 5 3/4% Senior Notes June 2019 325,000 325,000 7 1/2% Senior Notes September 2021 200,000 200,000 7 1/4% Senior Notes February 2023 200,000 200,000 TEU Senior Amortizing Notes July 2015 1,712 6,703 Unamortized debt discounts (3,829 ) (4,399 ) Total Senior Notes, net $ 1,430,762 $ 1,435,183 Junior Subordinated Notes July 2036 57,287 55,737 Cash Secured Loans November 2017 22,368 22,368 Revolving Credit Facility September 2016 20,000 — Other secured notes payable Various Dates 23,790 22,145 Total debt, net $ 1,554,207 $ 1,535,433

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities	Considering the limitation imposed by Section 382, the table below depicts the classifications of our deferred tax assets as of June 30, 2015 : (In thousands) June 30, 2015 Deferred tax assets: Subject to annual limitation $ 93,741 Generally not subject to annual limitation 365,563 Total deferred tax assets 459,304 Deferred tax liabilities (43,496 ) Net deferred tax assets before valuation allowance 415,808 Valuation allowance (415,762 ) Net deferred tax assets $ 46

Contingencies (Tables)

Contingencies (Tables)	9 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Warranty reserves	Changes in our warranty reserves are as follows for the periods presented: Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Balance at beginning of period $ 28,794 $ 12,561 $ 16,084 $ 11,663 Accruals for warranties issued (a) 2,935 1,517 6,090 3,687 Changes in liability related to warranties existing in prior periods (b) 7,058 2,459 27,813 5,682 Payments made (b) (7,963 ) (2,756 ) (19,163 ) (7,251 ) Balance at end of period $ 30,824 $ 13,781 $ 30,824 $ 13,781 (a) Accruals for warranties issued is a function of the number of home closings in the period, the average selling prices of the homes closed and the rates of accrual per home estimated as a percentage of the selling price of the home. The increase in the amount of accrual in the current three-month and nine-month periods compared to the comparable prior-year periods is due to an increase in the average selling prices of homes closed in the respective periods, as well as increases in certain divisions' accrual rates. (b) Changes in liability related to warranties existing in prior periods and payments made increased in the current three-month and nine -month periods primarily due to charges and subsequent payments related to water intrusion issues in certain of our communities located in Florida.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of fair value assets measured on a non-recurring basis	The following table presents our assets measured at fair value on a recurring and non-recurring basis for each hierarchy level and represents only those assets whose carrying values were adjusted to fair value during the nine months ended June 30, 2015 and 2014 : (In thousands) Level 1 Level 2 Level 3 Total Nine Months Ended June 30, 2015 Deferred compensation plan assets (a) $ — $ 618 $ — $ 618 Land held for sale (b) — — 1,148 1,148 Nine Months Ended June 30, 2014 Deferred compensation plan assets (a) $ — $ 463 $ — $ 463 Land held for sale (b) — — 6,730 6,730 (a) Measured at fair value on a recurring basis. (b) Measured at fair value on a non-recurring basis.
Schedule of carrying values and estimated fair values of other financial assets and liabilities	The following table presents the carrying values and estimated fair values of our other financial liabilities as of June 30, 2015 and September 30, 2014 : (In thousands) As of June 30, 2015 As of September 30, 2014 Carrying Fair Value Carrying Fair Value Senior Notes $ 1,430,762 $ 1,454,719 $ 1,435,183 $ 1,462,899 Junior Subordinated Notes 57,287 57,287 55,736 55,736 $ 1,488,049 $ 1,512,006 $ 1,490,919 $ 1,518,635

Stock-based compensation (Table

Stock-based compensation (Tables)	9 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock options and SSARs outstanding, as well as related activity	Activity related to stock options/SSARs for the periods presented is as follows: Three Months Ended Nine Months Ended June 30, 2015 June 30, 2015 Shares Weighted- Shares Weighted- Outstanding at beginning of period 646,630 $ 18.12 650,233 $ 18.12 Exercised (753 ) 12.07 (1,209 ) 12.07 Forfeited (815 ) 17.81 (3,962 ) 19.81 Outstanding at end of period 645,062 $ 18.13 645,062 $ 18.13 Exercisable at end of period 491,699 $ 18.40 491,699 $ 18.40 Vested or expected to vest in the future 645,032 $ 18.13 645,032 $ 18.13
Schedule of nonvested stock awards activity	Activity relating to stock awards, including the Performance Shares, for the periods presented is as follows: Three Months Ended Nine Months Ended June 30, 2015 June 30, 2015 Shares Weighted Shares Weighted Beginning of period 953,608 $ 18.29 746,567 $ 15.76 Granted 19,322 17.85 410,192 19.01 Vested (1,641 ) 18.27 (64,719 ) 15.96 Forfeited (7,059 ) 18.97 (127,810 ) 7.09 End of period 964,230 $ 18.28 964,230 $ 18.28

Other Liabilities Other Liabili

Other Liabilities Other Liabilities (Tables)	9 Months Ended
	Jun. 30, 2015
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities	Other liabilities include the following as of June 30, 2015 and September 30, 2014 : (In thousands) June 30, 2015 September 30, 2014 Accrued warranty expense $ 30,824 $ 16,084 Accrued interest 20,671 34,645 Customer deposits 19,662 11,977 Accrued bonuses and deferred comp 17,138 24,270 Litigation accrual 11,888 13,401 Income tax liabilities 2,112 5,576 Other 33,997 36,563 Total $ 136,292 $ 142,516

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of segment reporting information	The following tables contain our revenue, operating income (loss) and depreciation and amortization by segment for the periods presented: Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Revenue West $ 149,129 $ 136,906 $ 351,975 $ 381,368 East 155,160 128,358 363,152 319,313 Southeast 125,149 89,407 279,434 217,181 Total revenue $ 429,438 $ 354,671 $ 994,561 $ 917,862 Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Operating income West $ 16,246 $ 18,754 $ 33,628 $ 48,854 East 15,344 10,438 28,457 21,667 Southeast 14,382 8,235 15,200 18,025 Segment total 45,972 37,427 77,285 88,546 Corporate and unallocated (a) (28,276 ) (22,339 ) (62,643 ) (56,309 ) Total operating income $ 17,696 $ 15,088 $ 14,642 $ 32,237 Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Depreciation and amortization West $ 1,267 $ 1,427 $ 3,299 $ 4,113 East 900 890 2,094 2,138 Southeast 793 521 1,817 1,270 Segment total 2,960 2,838 7,210 7,521 Corporate and unallocated (a) 537 562 1,409 1,617 Depreciation and amortization - continuing operations $ 3,497 $ 3,400 $ 8,619 $ 9,138 (a) Corporate and unallocated operating loss includes amortization of capitalized interest and expenses related to numerous shared services functions including information technology, treasury, corporate finance, legal, branding and other national marketing costs that benefit all segments, the costs of which are not allocated to the operating segments reported above. Corporate and unallocated depreciation and amortization represents depreciation and amortization related to assets held by corporate functions that benefit all segments. The following table contains our capital expenditures by segment for the periods presented: Nine Months Ended June 30, (In thousands) 2015 2014 Capital Expenditures West $ 4,959 $ 3,891 East 2,996 1,827 Southeast 2,653 1,498 Corporate and unallocated 1,822 1,768 Total capital expenditures $ 12,430 $ 8,984 The following table contains our asset balance by segment as of June 30, 2015 and September 30, 2014 : (In thousands) June 30, 2015 September 30, 2014 Assets West $ 884,235 $ 756,575 East 470,189 433,032 Southeast 355,729 299,215 Corporate and unallocated (a) 380,019 577,398 Total assets $ 2,090,172 $ 2,066,220 (a) Primarily consists of cash and cash equivalents, restricted cash, consolidated inventory not owned, deferred taxes, capitalized interest and other items that are not allocated to the segments.

Supplemental Guarantor Inform35

Supplemental Guarantor Information (Tables)	9 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Unaudited Consolidating Balance Sheet Information	Beazer Homes USA, Inc. Unaudited Consolidating Balance Sheet Information June 30, 2015 (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated ASSETS Cash and cash equivalents $ 112,142 $ 17,881 $ 970 $ (2,241 ) $ 128,752 Restricted cash 36,221 1,590 — — 37,811 Accounts receivable (net of allowance of $1,292) — 44,878 4 — 44,882 Income tax receivable 262 — — — 262 Owned inventory — 1,822,090 — — 1,822,090 Investments in unconsolidated entities and marketable securities 773 10,634 — — 11,407 Deferred tax assets, net 46 — — — 46 Property and equipment, net — 22,683 — — 22,683 Investments in subsidiaries 275,514 — — (275,514 ) — Intercompany 1,385,184 — 2,381 (1,387,565 ) — Other assets 13,643 8,506 90 — 22,239 Total assets $ 1,823,785 $ 1,928,262 $ 3,445 $ (1,665,320 ) $ 2,090,172 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $ — $ 127,063 $ — $ — $ 127,063 Other liabilities 20,758 114,924 610 — 136,292 Intercompany — 1,389,806 — (1,389,806 ) — Total debt (net of discounts of $3,829) 1,530,417 23,790 — — 1,554,207 Total liabilities 1,551,175 1,655,583 610 (1,389,806 ) 1,817,562 Stockholders’ equity 272,610 272,679 2,835 (275,514 ) 272,610 Total liabilities and stockholders’ equity $ 1,823,785 $ 1,928,262 $ 3,445 $ (1,665,320 ) $ 2,090,172 Beazer Homes USA, Inc. Unaudited Consolidating Balance Sheet Information September 30, 2014 (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated ASSETS Cash and cash equivalents $ 301,980 $ 22,034 $ 1,614 $ (1,474 ) $ 324,154 Restricted cash 61,945 996 — — 62,941 Accounts receivable (net of allowance of $1,245) — 34,428 1 — 34,429 Income tax receivable 46 — — — 46 Owned inventory — 1,557,496 — — 1,557,496 Consolidated inventory not owned — 3,857 — — 3,857 Investments in marketable securities and unconsolidated entities 773 37,568 — — 38,341 Deferred tax assets, net 2,823 — — — 2,823 Property and equipment, net — 18,673 — — 18,673 Investments in subsidiaries 253,540 — — (253,540 ) — Intercompany 1,195,349 — 2,405 (1,197,754 ) — Other assets 17,226 6,144 90 — 23,460 Total assets $ 1,833,682 $ 1,681,196 $ 4,110 $ (1,452,768 ) $ 2,066,220 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $ — $ 106,237 $ — $ — $ 106,237 Other liabilities 38,871 102,833 812 — 142,516 Intercompany 2,405 1,196,823 — (1,199,228 ) — Obligations related to land not owned under option agreements — 2,916 — — 2,916 Total debt (net of discounts of $4,399) 1,513,288 22,145 — — 1,535,433 Total liabilities 1,554,564 1,430,954 812 (1,199,228 ) 1,787,102 Stockholders’ equity 279,118 250,242 3,298 (253,540 ) 279,118 Total liabilities and stockholders’ equity $ 1,833,682 $ 1,681,196 $ 4,110 $ (1,452,768 ) $ 2,066,220
Unaudited Consolidating Income Statement	Beazer Homes USA, Inc. Unaudited Consolidating Statements of Income and Unaudited Comprehensive Income (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended June 30, 2015 Total revenue $ — $ 429,438 $ 33 $ (33 ) $ 429,438 Home construction and land sales expenses 13,548 339,566 — (33 ) 353,081 Inventory impairments and option contract abandonments — 249 — — 249 Gross (loss) profit (13,548 ) 89,623 33 — 76,108 Commissions — 17,246 — — 17,246 General and administrative expenses — 37,641 28 — 37,669 Depreciation and amortization — 3,497 — — 3,497 Operating (loss) income (13,548 ) 31,239 5 — 17,696 Equity in income of unconsolidated entities — 153 — — 153 Other (expense) income, net (5,955 ) 193 (1 ) — (5,763 ) (Loss) income before income taxes (19,503 ) 31,585 4 — 12,086 (Benefit from) provision for income taxes (7,204 ) 7,067 2 — (135 ) Equity in income of subsidiaries 24,520 — — (24,520 ) — Income (loss) from continuing operations 12,221 24,518 2 (24,520 ) 12,221 Loss from discontinued operations — (43 ) (3 ) — (46 ) Equity in loss of subsidiaries from discontinued operations (46 ) — — 46 — Net income (loss) and comprehensive income (loss) $ 12,175 $ 24,475 $ (1 ) $ (24,474 ) $ 12,175 Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended June 30, 2014 Total revenue $ — $ 354,671 $ 100 $ (100 ) $ 354,671 Home construction and land sales expenses 9,430 274,527 — (100 ) 283,857 Inventory impairments and option contract abandonments — 2,010 — — 2,010 Gross (loss) profit (9,430 ) 78,134 100 — 68,804 Commissions — 14,322 — — 14,322 General and administrative expenses — 35,967 27 — 35,994 Depreciation and amortization — 3,400 — — 3,400 Operating (loss) income (9,430 ) 24,445 73 — 15,088 Equity in loss of unconsolidated entities — (81 ) — — (81 ) Loss on extinguishment of debt (19,764 ) — — — (19,764 ) Other (expense) income, net (10,421 ) 216 — — (10,205 ) (Loss) income before income taxes (39,615 ) 24,580 73 — (14,962 ) (Benefit from) provision for income taxes (4,730 ) 2,935 26 — (1,769 ) Equity in income of subsidiaries 21,692 — — (21,692 ) — (Loss) income from continuing operations (13,193 ) 21,645 47 (21,692 ) (13,193 ) Income (loss) from discontinued operations — 842 (4 ) — 838 Equity in income of subsidiaries from discontinued operations 838 — — (838 ) — Net (loss) income and comprehensive (loss) income $ (12,355 ) $ 22,487 $ 43 $ (22,530 ) $ (12,355 ) Beazer Homes USA, Inc. Unaudited Consolidating Statements of Income and Unaudited Comprehensive Income (In thousands) Beazer Homes USA, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Beazer Homes USA, Inc. Nine Months Ended June 30, 2015 Total revenue $ — $ 994,561 $ 165 $ (165 ) $ 994,561 Home construction and land sales expenses 31,524 797,714 — (165 ) 829,073 Inventory impairments and option contract abandonments — 249 — — 249 Gross (loss) profit (31,524 ) 196,598 165 — 165,239 Commissions — 40,141 — — 40,141 General and administrative expenses — 101,749 88 — 101,837 Depreciation and amortization — 8,619 — — 8,619 Operating (loss) income (31,524 ) 46,089 77 — 14,642 Equity in income of unconsolidated entities — 377 — — 377 Other (expense) income, net (23,396 ) (270 ) (4 ) — (23,670 ) (Loss) income before income taxes (54,920 ) 46,196 73 — (8,651 ) (Benefit from) provision for income taxes (20,286 ) 19,533 27 — (726 ) Equity in income of subsidiaries 26,709 — — (26,709 ) — (Loss) income from continuing operations (7,925 ) 26,663 46 (26,709 ) (7,925 ) Loss from discontinued operations — (4,226 ) (10 ) — (4,236 ) Equity in loss of subsidiaries from discontinued operations (4,236 ) — — 4,236 — Net (loss) income $ (12,161 ) $ 22,437 $ 36 $ (22,473 ) $ (12,161 ) Change in unrealized loss related to available-for-sale securities 1,276 — — — 1,276 Comprehensive (loss) income $ (10,885 ) $ 22,437 $ 36 $ (22,473 ) $ (10,885 ) Beazer Homes USA, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Beazer Homes USA, Inc. Nine Months Ended June 30, 2014 Total revenue $ — $ 917,862 $ 279 $ (279 ) $ 917,862 Home construction and land sales expenses 23,944 715,630 — (279 ) 739,295 Inventory impairments and option contract abandonments — 2,921 — — 2,921 Gross (loss) profit (23,944 ) 199,311 279 — 175,646 Commissions — 37,239 — — 37,239 General and administrative expenses — 96,944 88 — 97,032 Depreciation and amortization — 9,138 — — 9,138 Operating (loss) income (23,944 ) 55,990 191 — 32,237 Equity in income of unconsolidated entities — 221 — — 221 Loss on extinguishment of debt (19,917 ) — — — (19,917 ) Other (expense) income, net (41,112 ) 1,427 (4 ) — (39,689 ) (Loss) income before income taxes (84,973 ) 57,638 187 — (27,148 ) (Benefit from) provision for income taxes (4,928 ) 3,079 66 — (1,783 ) Equity in income of subsidiaries 54,680 — — (54,680 ) — (Loss) income from continuing operations (25,365 ) 54,559 121 (54,680 ) (25,365 ) Loss from discontinued operations — (88 ) (11 ) — (99 ) Equity in loss of subsidiaries and discontinued operations (99 ) — — 99 — Net (loss) income and comprehensive (loss) income $ (25,464 ) $ 54,471 $ 110 $ (54,581 ) $ (25,464 )
Unaudited Consolidating Statements of Cash Flow	Beazer Homes USA, Inc. Unaudited Condensed Consolidating Statements of Cash Flow (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Nine Months Ended June 30, 2015 Net cash used in operating activities $ (55,814 ) $ (182,157 ) $ (169 ) $ — $ (238,140 ) Cash flows from investing activities: Capital expenditures — (11,756 ) — — (11,756 ) Investments in unconsolidated entities — (2,651 ) — — (2,651 ) Proceeds from sale of marketable securities and unconsolidated entities — 24,245 — — 24,245 Increases in restricted cash (2,025 ) (1,781 ) — — (3,806 ) Decreases in restricted cash 27,750 1,186 — — 28,936 Advances to/from subsidiaries (169,563 ) — 25 169,538 — Net cash (used in) provided by investing activities (143,838 ) 9,243 25 169,538 34,968 Cash flows from financing activities: Repayment of debt (10,390 ) (1,544 ) — — (11,934 ) Borrowings from credit facility 50,000 — — — 50,000 Repayment of borrowings from credit facility (30,000 ) — — — (30,000 ) Debt issuance costs (126 ) — — — (126 ) Dividends paid 500 — (500 ) — — Advances to/from subsidiaries — 170,305 — (170,305 ) — Other financing activities (170 ) — — — (170 ) Net cash provided by (used in) financing activities 9,814 168,761 (500 ) (170,305 ) 7,770 Decrease in cash and cash equivalents (189,838 ) (4,153 ) (644 ) (767 ) (195,402 ) Cash and cash equivalents at beginning of period 301,980 22,034 1,614 (1,474 ) 324,154 Cash and cash equivalents at end of period $ 112,142 $ 17,881 $ 970 $ (2,241 ) $ 128,752 Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Nine Months Ended June 30, 2014 Net cash (used in) provided by operating activities $ (90,773 ) $ (198,873 ) $ 53 $ — $ (289,593 ) Cash flows from investing activities: Capital expenditures — (8,984 ) — — (8,984 ) Investments in unconsolidated entities — (4,567 ) — — (4,567 ) Return of capital from unconsolidated entities — 187 — — 187 Increases in restricted cash (8,915 ) (1,166 ) — — (10,081 ) Decreases in restricted cash 39 1,057 — — 1,096 Net cash used in investing activities (8,876 ) (13,473 ) — — (22,349 ) Cash flows from financing activities: Repayment of debt (303,448 ) (1,637 ) — — (305,085 ) Proceeds from issuance of new debt 325,000 — — — 325,000 Debt issuance costs (5,504 ) — — — (5,504 ) Advances to/from subsidiaries (214,598 ) 216,882 (50 ) (2,234 ) — Other financing activities (446 ) — — — (446 ) Net cash (used in) provided by financing activities (198,996 ) 215,245 (50 ) (2,234 ) 13,965 Decrease in cash and cash equivalents (298,645 ) 2,899 3 (2,234 ) (297,977 ) 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 $ 200,696 $ 9,223 $ 1,640 $ (5,077 ) $ 206,482

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Results of Discontinued Operations	The results of our discontinued operations in the unaudited consolidated statements of income for the periods presented were as follows: Three Months Ended Nine Months Ended June 30, June 30, (In thousands) 2015 2014 2015 2014 Total revenue $ 750 $ — $ 1,030 $ 464 Home construction and land sales expenses (a) 901 (1,343 ) 4,957 1,609 Gross profit (loss) (151 ) 1,343 (3,927 ) (1,145 ) General and administrative expenses (b) (104 ) 397 314 (1,164 ) Operating income (loss) (47 ) 946 (4,241 ) 19 Other income (expense), net (1 ) — — — Income (loss) from discontinued operations before income taxes (48 ) 946 (4,241 ) 19 (Benefit from) provision for income taxes (2 ) 108 (5 ) 118 Income (loss) from discontinued operations, net of tax $ (46 ) $ 838 $ (4,236 ) $ (99 ) (a) The nine months ended June 30, 2015 includes a $3.7 million expense related to the probable liability of a case regarding alleged past construction defects in our discontinued operations in Denver, Colorado. (b) The nine months ended June 30, 2014 includes approximately $1.9 million of recoveries received for legal fees related to outstanding matters in Denver, Colorado.

Supplemental Cash Flow Inform37

Supplemental Cash Flow Information Supplemental Disclosure of Non-cash Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Supplemental disclosure of non-cash activity:
Decrease in obligations related to land not owned under option agreements	$ (2,916)	$ (1,617)
Decrease in debt related to conversion of Mandatory Convertible Subordinated Notes and Tangible Equity Units for common stock	(1)	(2,376)
Land acquisitions for debt	12,904	20,207
Non-cash capital expenditure	674	0
Supplemental disclosure of cash activity:
Interest payments	99,434	100,040
Income tax payments	474	$ 174
Non-cash seller financing	7,800
Lot takedowns	$ 5,100

Investments in Marketable Sec38

Investments in Marketable Securities and Unconsolidated Entities - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]
Gain (Loss) on Sale of Investments		$ (1,800,000)
Schedule of Equity Method Investments [Line Items]
Equity Method Investments, Impairment Of Unconsolidated Entity Investments, Continuing Operations	$ 0
Inspirada
Schedule of Equity Method Investments [Line Items]
Settlement of unconsolidated entity debt obligation			$ 1,000,000
Joint Venture Obligation	3,400,000
Financial Guarantee
Schedule of Equity Method Investments [Line Items]
Guarantor Obligations, Current Carrying Value	$ 0		$ 0

Investments in Marketable Sec39

Investments in Marketable Securities and Unconsolidated Entities - Outstanding Borrowings of Unconsolidated Entities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities and marketable securities	$ 11,407	$ 38,341
Unconsolidated Entities
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities and marketable securities	11,407	13,576
Total equity of unconsolidated entities	40,226	59,336
Total outstanding borrowings of unconsolidated entities	$ 11,834	$ 11,254

Investments in Marketable Sec40

Investments in Marketable Securities and Unconsolidated Entities - Income (Loss), Impairments From, and Equity In Investments In Unconsolidated Entities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Equity Method Investments [Line Items]
Equity in income (loss) of unconsolidated entities	$ 153	$ (81)	$ 377	$ 221

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2013
Real Estate [Abstract]
Homes under construction	$ 508,853		$ 282,095
Development projects in progress	792,662		786,768
Land held for future development	270,619		301,048
Land held for sale	56,203		51,672
Capitalized interest	123,712	$ 112,476	87,619	$ 84,083	$ 72,256	$ 52,562
Model homes	70,041		48,294
Total owned inventory	$ 1,822,090		$ 1,557,496

Inventory - Total Owned Invento

Inventory - Total Owned Inventory by Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Projects in Progress (a)	$ 1,495,268	$ 1,204,776
Land held for future development	270,619	301,048
Land held for sale	56,203	51,672
Total owned inventory	1,822,090	1,557,496
West Segment
Segment Reporting Information [Line Items]
Projects in Progress (a)	626,772	462,508
Land held for future development	230,481	260,898
Land held for sale	8,268	10,026
Total owned inventory	865,521	733,432
East Segment
Segment Reporting Information [Line Items]
Projects in Progress (a)	392,716	353,859
Land held for future development	29,215	29,239
Land held for sale	32,057	34,530
Total owned inventory	453,988	417,628
Southeast Segment
Segment Reporting Information [Line Items]
Projects in Progress (a)	303,225	264,843
Land held for future development	10,923	10,911
Land held for sale	14,778	4,821
Total owned inventory	328,926	280,575
Corporate and unallocated
Segment Reporting Information [Line Items]
Projects in Progress (a)	172,555	123,566
Land held for future development	0	0
Land held for sale	1,100	2,295
Total owned inventory	$ 173,655	$ 125,861

Inventory - Recoverability Sche

Inventory - Recoverability Schedule of Inventory Assets Held for Development, by Reportable Segment (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2015home	Jun. 30, 2014USD ($)property
Real Estate Properties [Line Items]
Number of Communities on Watch List	0	4
Undiscounted Cash Flow Analysis Prepared for Number of Communities		2
West Segment
Real Estate Properties [Line Items]
Number of Communities on Watch List		3
Undiscounted Cash Flow Analysis Prepared for Number of Communities		2
Undiscounted Cash Flow Analysis, Pre-analysis Book Value | $		$ 12,215
Undiscounted Cash Flow Analysis, Aggregate Undiscounted Cash Flow, Percentage of Book Value		103.70%
Southeast Segment
Real Estate Properties [Line Items]
Number of Communities on Watch List		1
Undiscounted Cash Flow Analysis Prepared for Number of Communities		0
Undiscounted Cash Flow Analysis, Pre-analysis Book Value | $		$ 0
Undiscounted Cash Flow Analysis, Aggregate Undiscounted Cash Flow, Percentage of Book Value		0.00%

Inventory - Impairments and Lot

Inventory - Impairments and Lot Option Abandonment Charges, by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Real Estate, Write-down or Reserve [Line Items]
Inventory impairments and option contract abandonments	$ 249	$ 2,010	$ 249	$ 2,921
Inventory Impairment and Option Contract Abandonment	249	2,010	249	2,921
Continuing Operations [Member]
Real Estate, Write-down or Reserve [Line Items]
Land Held for Sale	249	201	249	260
Lot Option Abandonments	0	1,809	0	2,661
Continuing Operations [Member] | East Segment
Real Estate, Write-down or Reserve [Line Items]
Land Held for Sale	249	201	249	232
Lot Option Abandonments	0	156	0	156
Continuing Operations [Member] | Southeast Segment
Real Estate, Write-down or Reserve [Line Items]
Land Held for Sale	0	0	0	28
Lot Option Abandonments	$ 0	$ 1,653	$ 0	$ 2,505

Inventory - Summary of Interest

Inventory - Summary of Interests in Lot Option Agreements (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Real Estate Properties [Line Items]
Deposits and non-refundable preacquisition costs incurred	$ 51,971	$ 43,529
Remaining obligations	448,809	420,534
Land not owned under option agreements	0	3,857
Consolidated VIEs
Real Estate Properties [Line Items]
Deposits and non-refundable preacquisition costs incurred		941
Remaining obligations		2,916
Land not owned under option agreements		3,857
Unconsolidated lot option agreements
Real Estate Properties [Line Items]
Deposits and non-refundable preacquisition costs incurred	51,971	42,588
Remaining obligations	$ 448,809	$ 417,618

Inventory - Narrative (Details)

Inventory - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 30, 2015USD ($)homeproperty	Jun. 30, 2014property	Sep. 30, 2014USD ($)home
Real Estate Properties [Line Items]
Discounted Cash Flow Analyses, Number of Lots Impaired | property	0	2
Number of substantially completed homes unsold	98		205
Total value of substantially completed homes | $	$ 29		$ 48
Threshold number of homes below a minimum threshold of profitability	10
Number of Communities on Watch List	0	4
Southeast Segment
Real Estate Properties [Line Items]
Number of Communities on Watch List | property		1

Interest - Schedule of Capitali

Interest - Schedule of Capitalized Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in inventory, beginning of period	$ 112,476	$ 72,256	$ 87,619	$ 52,562
Interest incurred	30,748	31,678	91,290	96,577
Interest expense not qualified for capitalization and included as other expense (a)	(5,954)	(10,421)	(23,396)	(41,112)
Capitalized interest amortized to house construction and land sales expenses (b)	(13,558)	(9,430)	(31,801)	(23,944)
Capitalized interest in inventory, end of period	$ 123,712	$ 84,083	$ 123,712	$ 84,083

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) $ / shares in Units, $ in Thousands, shares in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)
Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares	1.2
Shares of common stock issuable upon conversion	5,200
Tangible Equity Units
Earnings Per Share [Line Items]
Tangible Equity Units outstanding | shares	3.7	3.7
Debt Instrument, Convertible, Stock Price Trigger, Range Two | TEU Senior Amortizing Notes
Earnings Per Share [Line Items]
Debt Instrument, Convertible, Conversion Ratio		1.40746
Debt Instrument, Convertible, Stock Price Trigger | $ / shares	$ 17.75
Senior Notes | TEU Senior Amortizing Notes
Earnings Per Share [Line Items]
Senior notes	$ 1,712	$ 1,712	$ 6,703

Earnings Per Share - Diluted Sh

Earnings Per Share - Diluted Shares Calculation (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Basic shares	26,482	26,421	26,473	25,582
Shares issuable upon conversion of TEUs	5,221	0	0	0
Shares issuable upon vesting/exercise of stock awards/options	97	0	0	0
Diluted shares	31,800	26,421	26,473	25,582

Borrowings - Schedule of Long-t

Borrowings - Schedule of Long-term Debt (Details) $ in Thousands	Jun. 30, 2015USD ($)	Nov. 10, 2014lender	Sep. 30, 2014USD ($)	Apr. 30, 2014
Debt Instrument [Line Items]
Unamortized debt discounts	$ (3,829)		$ (4,399)
Long-term debt	1,554,207		1,535,433
Total debt (net of discounts of $3,829 and $4,399, respectively)	1,554,207		1,535,433
Senior Notes
Debt Instrument [Line Items]
Unamortized debt discounts	(3,829)		(4,399)
Long-term debt	$ 1,430,762		$ 1,435,183
Senior Notes | 8 1/8% Senior Notes Maturing June 2016
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	8.125%		8.125%
Senior notes	$ 172,879		$ 172,879
Senior Notes | 6 5/8% Senior Secured Notes April 2018
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	6.625%		6.625%
Senior notes	$ 300,000		$ 300,000
Senior Notes | 9 1/8% Senior Notes Maturing May 2019
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	9.125%		9.125%
Senior notes	$ 235,000		$ 235,000
Senior Notes | 5 3/4% Senior Notes Maturing June 2019
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	5.75%		5.75%	5.75%
Senior notes	$ 325,000		$ 325,000
Senior Notes | 7 1/2% Senior Notes Maturing September 2021
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	7.50%		7.50%
Senior notes	$ 200,000		$ 200,000
Senior Notes | 7 1/4% Senior Notes Maturing February 2023
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	7.25%		7.25%
Senior notes	$ 200,000		$ 200,000
Senior Notes | TEU Senior Amortizing Notes
Debt Instrument [Line Items]
Senior notes	$ 1,712		6,703
Junior Subordinated Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	7.987%
Unamortized debt discounts	$ (43,500)
Long-term debt	57,287		55,737
Cash Secured Loan
Debt Instrument [Line Items]
Long-term debt	22,368		22,368
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	20,000		0
Other Secured Notes Payable
Debt Instrument [Line Items]
Long-term debt	$ 23,790		$ 22,145
Number of Lenders No Credit Extension [Domain]
Debt Instrument [Line Items]
Line of Credit Facility, Number of Lenders | lender		1

Borrowings - Narrative (Details

Borrowings - Narrative (Details) TEUs in Millions	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 30, 2014	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Sep. 30, 2014USD ($)shares	Nov. 10, 2014lender	Apr. 30, 2014USD ($)	Jul. 17, 2012TEUs	Jan. 15, 2010USD ($)
Line of Credit Facility [Abstract]
Amount of available borrowings under the Secured Revolving Credit Facility		$ 101,700,000		$ 101,700,000
Senior Notes [Abstract]
Consolidated Tangible Net Worth		253,300,000		253,300,000
Loss on extinguishment of debt		0	$ 19,764,000	0	$ 19,917,000
Junior Subordinated Notes [Abstract]
Unamortized accretion		3,829,000		3,829,000		$ 4,399,000
Secured Debt [Abstract]
Long-term debt		1,554,207,000		1,554,207,000		1,535,433,000
Senior Notes
Senior Notes [Abstract]
Minimum consolidated tangible net worth		$ 85,000,000		$ 85,000,000
Percentage of debt, at par, required to be offered for purchase		10.00%		10.00%
Amount of original debt that could be repurchased		$ 27,500,000		$ 27,500,000
Junior Subordinated Notes [Abstract]
Unamortized accretion		3,829,000		3,829,000		4,399,000
Secured Debt [Abstract]
Long-term debt		$ 1,430,762,000		$ 1,430,762,000		$ 1,435,183,000
Senior Notes | 8 1/8% Senior Notes Maturing June 2016
Senior Notes [Abstract]
Stated interest rate on debt instrument (percent)		8.125%		8.125%		8.125%
Senior Notes | 6 5/8% Senior Secured Notes April 2018
Senior Notes [Abstract]
Stated interest rate on debt instrument (percent)		6.625%		6.625%		6.625%
Senior Notes | 9 1/8% Senior Notes Maturing June 2018
Senior Notes [Abstract]
Call price and make-whole premiums provided for by 2018 Notes		$ 17,200,000
Loss on extinguishment of debt		$ 19,800,000
Senior Notes | 9 1/8% Senior Notes Maturing May 2019
Senior Notes [Abstract]
Stated interest rate on debt instrument (percent)		9.125%		9.125%		9.125%
Senior Notes | 5 3/4% Senior Notes Maturing June 2019
Senior Notes [Abstract]
Aggregate principal amount of debt								$ 325,000,000
Stated interest rate on debt instrument (percent)		5.75%		5.75%		5.75%		5.75%
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed	100.00%
Junior Subordinated Notes [Abstract]
Debt Instrument, Redemption Price, Percentage		35.00%
Senior Notes | 5 3/4% Senior Notes Maturing June 2019 | Optional Redemption Under Indenture
Junior Subordinated Notes [Abstract]
Debt instrument redemption price (percent)		105.75%		105.75%
Debt Instrument, Redemption Price, Percentage		65.00%
Senior Notes | 5 3/4% Senior Notes Maturing June 2019 | In Compliance
Junior Subordinated Notes [Abstract]
Debt instrument redemption price (percent)		100.00%		100.00%		0.00%
Senior Notes | 7 1/2% Senior Notes Maturing September 2021
Senior Notes [Abstract]
Stated interest rate on debt instrument (percent)		7.50%		7.50%		7.50%
Senior Notes | 7 1/4% Senior Notes Maturing February 2023
Senior Notes [Abstract]
Stated interest rate on debt instrument (percent)		7.25%		7.25%		7.25%
Senior Notes | Tangible Equity Units
Senior Notes [Abstract]
Stated interest rate on debt instrument (percent)									7.50%
Tangible Equity Units TEUs Converted | shares						890,000
Stock Exchange, Debt Related to Tangible Equity Unit						$ 2,400,000
Tangible Capital [Abstract]
Tangible Equity Units (TEUs) issued during period, (units) | TEUs									4.6
Junior Subordinated Notes
Senior Notes [Abstract]
Aggregate principal amount of debt		$ 103,100,000		$ 103,100,000						$ 75,000,000
Stated interest rate on debt instrument (percent)		7.987%		7.987%
Junior Subordinated Notes [Abstract]
Effective period of debt instrument interest rate				10 years
Unamortized accretion		$ 43,500,000		$ 43,500,000
Secured Debt [Abstract]
Long-term debt		57,287,000		$ 57,287,000		55,737,000
Cash Secured Loan
Secured Debt [Abstract]
Three-month LIBOR				LIBOR
Long-term debt		22,368,000		$ 22,368,000		22,368,000
Revolving Credit Facility
Line of Credit Facility [Abstract]
Outstanding borrowings under the Secured Revolving Credit Facility		28,300,000		28,300,000
Secured Debt [Abstract]
Long-term debt		20,000,000		20,000,000		0
Other Secured Notes Payable
Secured Debt [Abstract]
Long-term debt		$ 23,790,000		$ 23,790,000		22,145,000
Weighted average fixed interest rate of debt (percent)		4.14%		4.14%
Revolving Credit Facility
Line of Credit Facility [Abstract]
Credit facility borrowing capacity		$ 150,000,000		$ 150,000,000
Inventory assets pledged as collateral		1,000,000,000		$ 1,000,000,000
Secured Debt [Abstract]
Line of Credit Facility, Number of Lenders | lender							4
Line of Credit Facility, Expiration Period				1 year
Letter of Credit, Cash Secured [Member]
Line of Credit Facility [Abstract]
Letters of credit secured using cash collateral		13,200,000		$ 13,200,000		$ 39,100,000
Revolving Credit Facility Future Amount [Member]
Line of Credit Facility [Abstract]
Line of Credit, Current		20,000,000		20,000,000
Secured Debt [Abstract]
Long-term Line of Credit, Noncurrent		$ 130,000,000		$ 130,000,000
Number of Lenders No Credit Extension [Domain]
Secured Debt [Abstract]
Line of Credit Facility, Number of Lenders | lender							1
Number of Lenders Extending Credit Facility [Domain]
Secured Debt [Abstract]
Line of Credit Facility, Number of Lenders | lender							3
London Interbank Offered Rate (LIBOR) [Member] | Cash Secured Loan
Secured Debt [Abstract]
Spread on variable interest rate (percent)				0.40%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Line Items]
Uncertain tax positions reasonably possible to reverse in next twelve months	$ 3,200
Accrued interest and penalties	500	$ 400
Limit on operating loss carryforwards and recognition	11,400
Limit on operating loss carryforwards and recognition, tax-effected	4,000
Total deferred tax assets	459,304
Deferred tax liabilities	(43,496)
Net deferred tax assets before valuation allowance	415,808
Valuation allowance	(415,762)	$ (445,200)
Net deferred tax assets	46
Subject To Annual Limitation
Income Tax Disclosure [Line Items]
Total deferred tax assets	93,741
Generally Not Subject to Annual Limitation
Income Tax Disclosure [Line Items]
Total deferred tax assets	$ 365,563

Contingencies - Warranty (Detai

Contingencies - Warranty (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)homeCommunity	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2014USD ($)home
Loss Contingencies [Line Items]
Standard product warranty length, minimum			1 year
Standard product warranty length, maximum			2 years
Limited product warranty length			5 years
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 28,794,000	$ 12,561,000	$ 16,084,000	$ 11,663,000	$ 13,781,000	$ 11,663,000
Accruals for warranties issued	2,935,000	1,517,000	6,090,000	3,687,000
Changes in liability related to warranties existing in prior periods	7,058,000	2,459,000	27,813,000	5,682,000
Payments made (b)	(7,963,000)	(2,756,000)	(19,163,000)	(7,251,000)
Balance at end of period	30,824,000	$ 13,781,000	30,824,000	$ 13,781,000	30,824,000	16,084,000
Insurance Recoveries	7,300,000		13,000,000
Specific Warranty Issue
Movement in Standard Product Warranty Accrual [Roll Forward]
Product warranty expense					28,900,000
FLORIDA
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period			$ 4,000,000
Balance at end of period						$ 4,000,000
Homes likely to require more than minor repairs | home			486			135
Product warranty accrual, warranties issued						$ 4,300,000
Homes repaired during period | home			116			11
Product warranty accrual, payments	(4,500,000)		$ (9,200,000)			$ (300,000)
Number of homes requiring more than minor repairs accounted for in warranty liability | home						124
Insurance Recoveries	6,100,000		10,400,000
FLORIDA | Specific Warranty Issue
Movement in Standard Product Warranty Accrual [Roll Forward]
Product warranty expense	$ 6,100,000		$ 24,000,000		28,300,000
NEW JERSEY | Specific Warranty Issue
Movement in Standard Product Warranty Accrual [Roll Forward]
Standard product warranty			8 years
Product warranty expense					$ 600,000
Number of Communities With Water Intrusion Issues			1		1

Contingencies - Litigation and

Contingencies - Litigation and Other Matters (Details) - Credit Facility [Domain] - USD ($) $ in Millions	3 Months Ended	9 Months Ended	63 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Sep. 30, 2014
Loss Contingencies [Line Items]
Accrued amounts for litigation and other contingent liabilities	$ 11.9	$ 11.9	$ 13.4
Pledged Assets Separately Reported, Securities Pledged for Other Debt Obligations, at Fair Value	$ 217.4	$ 217.4
DPA And HUD
Loss Contingencies [Line Items]
Company's liability under Deferred Prosecution Agreement (percent)	4.00%	4.00%
Maximum liability under the DPA and other settlement agreements	$ 48	$ 48
Portion of liability under DPA that has been paid as of balance sheet date			$ 22.7
bzh_DeferredProsecutionAgreementAccrual	4.6	4.6
Loss Contingency Accrual, Provision	1.7	2.5
Performance Bonds
Loss Contingencies [Line Items]
Letters of credit secured using cash collateral	$ 41.5	$ 41.5

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Assets Measured on a Non-recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale	$ 1,148	$ 6,730
Fair Value, Measurements, Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale	0	0
Fair Value, Measurements, Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale	0	0
Fair Value, Measurements, Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale	1,148	6,730
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Plan Assets	618	463
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Plan Assets	0	0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Plan Assets	618	463
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Plan Assets	$ 0	$ 0

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Values and Estimated Fair Values of Other Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying values and estimated fair values of other financial assets and liabilities	$ 1,488,049	$ 1,490,919
Carrying Amount | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,430,762	1,435,183
Carrying Amount | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior Subordinated Notes	57,287	55,736
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying values and estimated fair values of other financial assets and liabilities	1,512,006	1,518,635
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,454,719	1,462,899
Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior Subordinated Notes	$ 57,287	$ 55,736

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Fair Value Disclosures [Abstract]
Accumulated other comprehensive loss	$ 0	$ (1,276)

Stock-based Compensation - Stoc

Stock-based Compensation - Stock options and SSARs outstanding (Details) - SSARs / Stock Options - $ / shares	3 Months Ended	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Shares outstanding at beginning of period (shares)	646,630	650,233
Exercised (shares)	(753)	(1,209)
Forfeited (shares)	(815)	(3,962)
Shares outstanding at beginning of period (shares)	645,062	645,062
Exercisable at end of period (shares)	491,699	491,699
Vested or expected to vest in the future (shares)	645,032	645,032
Weighted average exercise price of shares outstanding at beginning of period (in US$ per share)	$ 18.13	$ 18.13	$ 18.12	$ 18.12
Share-based Compensation Arrangements by Share-based Payment Award, Exercises in Period, Weighted Average Exercise Price	12.07	12.07
Share-based Compensation Arrangements by Share-based Payment Award, Forfeitures in Period, Weighted Average Exercise Price	17.81	19.81
Weighted average exercise price of shares exercisable at end of period (in US$ per share)	18.40	18.40
Weighted average exercise price of shares vested or expected to vest in the future (in US$ per share)	$ 18.13	$ 18.13

- Narrative (Details)

- Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation included in general and administrative expenses	$ 1,600,000	$ 4,600,000
Total stock-based compensation included in general and administrative expenses, net of tax	1,200,000	$ 3,400,000
Number of shares surrendered by employees (shares)		10,302	23,602
Payments Related to Tax Withholding for Share-based Compensation		$ 192,000	$ 450,000
SSARs / Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of SSAR/stock options outstanding	2,100,000	$ 2,100,000
SSARs/stock options weighted average expected life		2 years 2 months
Aggregate intrinsic value of exercisable SSARs/stock options	1,700,000	$ 1,700,000
Nonvested Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to non-vested stock awards	$ 13,200,000	$ 13,200,000		$ 10,000,000
Weighted average period to recognize remaining cost		2 years 8 months 12 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of performance-based restricted stock issued (shares)		201,157
Non-vested stock performance period (years)		3 years
Award vesting period		3 years
Granted		$ 19.90
Expected dividend yield on performance shares (percent)		0.00%
Expected volatility rate range minimum (percent)		29.00%
Expected volatility rate range maximum (percent)		185.80%
Risk free interest rate		0.94%
Minimum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percent of target number		0.00%
Maximum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percent of target number		150.00%
Pre-tax Income Performance Shares | Minimum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, payout percent		50.00%
Pre-tax Income Performance Shares | Maximum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options, payout percent		200.00%

Stock-based Compensation - Nonv

Stock-based Compensation - Nonvested Stock Awards (Details) - Jun. 30, 2015 - Nonvested Stock Awards and Performance Shares - $ / shares	Total	Total
Shares
Beginning of period	953,608	746,567
Granted	19,322	410,192
Vested	(1,641)	(64,719)
Forfeited	(7,059)	(127,810)
End of period	964,230	964,230
Weighted Average Grant Date Fair Value
Beginning of period	$ 18.29	$ 15.76
Granted	17.85	19.01
Vested	18.27	15.96
Forfeited	18.97	7.09
End of period	$ 18.28	$ 18.28

Other Liabilities Other Liabi61

Other Liabilities Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2013
Other Liabilities Disclosure [Abstract]
Accrued warranty expenses	$ 30,824	$ 28,794	$ 16,084	$ 13,781	$ 12,561	$ 11,663
Accrued interest	20,671		34,645
Customer deposits	19,662		11,977
Accrued and deferred compensation	17,138		24,270
Estimated Litigation Liability	11,888		13,401
Income tax liabilities	2,112		5,576
Other	33,997		36,563
Total	$ 136,292		$ 142,516

Segment Information (Details)

Segment Information (Details) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 30, 2015USD ($)state	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)statesegment	Jun. 30, 2014USD ($)	Sep. 30, 2014USD ($)
Segment Reporting Information [Line Items]
Number of homebuilding segments | segment				3
Number of states in which home building segments operate | state		15		15
Total revenue		$ 429,438	$ 354,671	$ 994,561	$ 917,862
Total operating income		17,696	15,088	14,642	32,237
Depreciation and amortization		3,497	3,400	8,619	9,138
Capital Expenditures				11,756	8,984
Total Capital Expenditure, cash and noncash				12,430	8,984
Assets		2,090,172		2,090,172		$ 2,066,220
Operating Segments
Segment Reporting Information [Line Items]
Total operating income		45,972	37,427	77,285	88,546
Depreciation and amortization		2,960	2,838	7,210	7,521
West Segment
Segment Reporting Information [Line Items]
Total revenue		149,129	136,906	351,975	381,368
Total operating income		16,246	18,754	33,628	48,854
Depreciation and amortization		1,267	1,427	3,299	4,113
Capital Expenditures				4,959	3,891
Assets		884,235		884,235		756,575
East Segment
Segment Reporting Information [Line Items]
Total revenue		155,160	128,358	363,152	319,313
Total operating income		15,344	10,438	28,457	21,667
Depreciation and amortization		900	890	2,094	2,138
Capital Expenditures				2,996	1,827
Assets		470,189		470,189		433,032
Southeast Segment
Segment Reporting Information [Line Items]
Total revenue		125,149	89,407	279,434	217,181
Total operating income		14,382	8,235	15,200	18,025
Depreciation and amortization		793	521	1,817	1,270
Capital Expenditures				2,653	1,498
Assets		355,729		355,729		299,215
Corporate and unallocated
Segment Reporting Information [Line Items]
Total operating income		(28,276)	(22,339)	(62,643)	(56,309)
Depreciation and amortization	[1]	537	$ 562	1,409	1,617
Capital Expenditures				1,822	$ 1,768
Assets	[2]	$ 380,019		$ 380,019		$ 577,398
[1]	Corporate and unallocated operating loss includes amortization of capitalized interest and expenses related to numerous shared services functions including information technology, treasury, corporate finance, legal, branding and other national marketing costs that benefit all segments, the costs of which are not allocated to the operating segments reported above. Corporate and unallocated depreciation and amortization represents depreciation and amortization related to assets held by corporate functions that benefit all segments.
[2]	Primarily consists of cash and cash equivalents, restricted cash, consolidated inventory not owned, deferred taxes, capitalized interest and other items that are not allocated to the segments.

Supplemental Guarantor Inform63

Supplemental Guarantor Information - Unaudited Consolidating Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013
ASSETS
Cash and cash equivalents	$ 128,752	$ 324,154	$ 206,482	$ 504,459
Restricted cash	37,811	62,941
Accounts receivable (net of allowance of $1,292 and $1,245, respectively)	44,882	34,429
Income tax receivable	262	46
Owned inventory	1,822,090	1,557,496
Consolidated inventory not owned	0	3,857
Investments in unconsolidated entities and marketable securities	11,407	38,341
Deferred tax assets, net	46	2,823
Property and equipment, net	22,683	18,673
Investments in subsidiaries	0	0
Intercompany	0	0
Other assets	22,239	23,460
Total assets	2,090,172	2,066,220
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	127,063	106,237
Other liabilities	136,292	142,516
Intercompany	0	0
Obligations related to land not owned under option agreements	0	2,916
Total debt (net of discounts of $3,829 and $4,399, respectively)	1,554,207	1,535,433
Total liabilities	1,817,562	1,787,102
Stockholders’ equity	272,610	279,118
Total liabilities and stockholders’ equity	2,090,172	2,066,220
Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	112,142	301,980	200,696	499,341
Restricted cash	36,221	61,945
Accounts receivable (net of allowance of $1,292 and $1,245, respectively)	0	0
Income tax receivable	262	46
Owned inventory	0	0
Consolidated inventory not owned		0
Investments in unconsolidated entities and marketable securities	773	773
Deferred tax assets, net	46	2,823
Property and equipment, net	0	0
Investments in subsidiaries	275,514	253,540
Intercompany	1,385,184	1,195,349
Other assets	13,643	17,226
Total assets	1,823,785	1,833,682
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	20,758	38,871
Intercompany	0	2,405
Obligations related to land not owned under option agreements		0
Total debt (net of discounts of $3,829 and $4,399, respectively)	1,530,417	1,513,288
Total liabilities	1,551,175	1,554,564
Stockholders’ equity	272,610	279,118
Total liabilities and stockholders’ equity	1,823,785	1,833,682
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	17,881	22,034	9,223	6,324
Restricted cash	1,590	996
Accounts receivable (net of allowance of $1,292 and $1,245, respectively)	44,878	34,428
Income tax receivable	0	0
Owned inventory	1,822,090	1,557,496
Consolidated inventory not owned		3,857
Investments in unconsolidated entities and marketable securities	10,634	37,568
Deferred tax assets, net	0	0
Property and equipment, net	22,683	18,673
Investments in subsidiaries	0	0
Intercompany	0	0
Other assets	8,506	6,144
Total assets	1,928,262	1,681,196
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	127,063	106,237
Other liabilities	114,924	102,833
Intercompany	1,389,806	1,196,823
Obligations related to land not owned under option agreements		2,916
Total debt (net of discounts of $3,829 and $4,399, respectively)	23,790	22,145
Total liabilities	1,655,583	1,430,954
Stockholders’ equity	272,679	250,242
Total liabilities and stockholders’ equity	1,928,262	1,681,196
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	970	1,614	1,640	1,637
Restricted cash	0	0
Accounts receivable (net of allowance of $1,292 and $1,245, respectively)	4	1
Income tax receivable	0	0
Owned inventory	0	0
Consolidated inventory not owned		0
Investments in unconsolidated entities and marketable securities	0	0
Deferred tax assets, net	0	0
Property and equipment, net	0	0
Investments in subsidiaries	0	0
Intercompany	2,381	2,405
Other assets	90	90
Total assets	3,445	4,110
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	610	812
Intercompany	0	0
Obligations related to land not owned under option agreements		0
Total debt (net of discounts of $3,829 and $4,399, respectively)	0	0
Total liabilities	610	812
Stockholders’ equity	2,835	3,298
Total liabilities and stockholders’ equity	3,445	4,110
Consolidating Adjustments
ASSETS
Cash and cash equivalents	(2,241)	(1,474)	$ (5,077)	$ (2,843)
Restricted cash	0	0
Accounts receivable (net of allowance of $1,292 and $1,245, respectively)	0	0
Income tax receivable	0	0
Owned inventory	0	0
Consolidated inventory not owned		0
Investments in unconsolidated entities and marketable securities	0	0
Deferred tax assets, net	0	0
Property and equipment, net	0	0
Investments in subsidiaries	(275,514)	(253,540)
Intercompany	(1,387,565)	(1,197,754)
Other assets	0	0
Total assets	(1,665,320)	(1,452,768)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	0	0
Intercompany	(1,389,806)	(1,199,228)
Obligations related to land not owned under option agreements		0
Total debt (net of discounts of $3,829 and $4,399, respectively)	0	0
Total liabilities	(1,389,806)	(1,199,228)
Stockholders’ equity	(275,514)	(253,540)
Total liabilities and stockholders’ equity	$ (1,665,320)	$ (1,452,768)

Supplemental Guarantor Inform64

Supplemental Guarantor Information - Unaudited Consolidating Balance Sheet Information (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Allowances for accounts receivable	$ 1,292	$ 1,245

Supplemental Guarantor Inform65

Supplemental Guarantor Information - Unaudited Consolidating Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Total revenue	$ 429,438	$ 354,671	$ 994,561	$ 917,862
Home construction and land sales expenses	353,081	283,857	829,073	739,295
Inventory impairments and option contract abandonments	249	2,010	249	2,921
Gross profit	76,108	68,804	165,239	175,646
Commissions	17,246	14,322	40,141	37,239
General and administrative expenses	37,669	35,994	101,837	97,032
Depreciation and amortization	3,497	3,400	8,619	9,138
Operating income	17,696	15,088	14,642	32,237
Equity in income (loss) of unconsolidated entities	153	(81)	377	221
Loss on extinguishment of debt	0	(19,764)	0	(19,917)
Other (expense) income, net	(5,763)	(10,205)	(23,670)	(39,689)
(Loss) income before income taxes	12,086	(14,962)	(8,651)	(27,148)
(Benefit from) provision for income taxes	(135)	(1,769)	(726)	(1,783)
Equity in income of subsidiaries	0	0	0	0
Income (loss) from continuing operations	12,221	(13,193)	(7,925)	(25,365)
Income (loss) from discontinued operations, net of tax	(46)	838	(4,236)	(99)
Equity in loss of subsidiaries from discontinued operations	0	0	0	0
Net income (loss)	12,175	(12,355)	(12,161)	(25,464)
Change in unrealized loss related to available-for-sale securities	0	0	1,276	0
Comprehensive income (loss)	12,175	(12,355)	(10,885)	(25,464)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Total revenue	0	0	0	0
Home construction and land sales expenses	13,548	9,430	31,524	23,944
Inventory impairments and option contract abandonments	0	0	0	0
Gross profit	(13,548)	(9,430)	(31,524)	(23,944)
Commissions	0	0	0	0
General and administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Operating income	(13,548)	(9,430)	(31,524)	(23,944)
Equity in income (loss) of unconsolidated entities	0	0	0	0
Loss on extinguishment of debt		(19,764)		(19,917)
Other (expense) income, net	(5,955)	(10,421)	(23,396)	(41,112)
(Loss) income before income taxes	(19,503)	(39,615)	(54,920)	(84,973)
(Benefit from) provision for income taxes	(7,204)	(4,730)	(20,286)	(4,928)
Equity in income of subsidiaries	24,520	21,692	26,709	54,680
Income (loss) from continuing operations	12,221	(13,193)	(7,925)	(25,365)
Income (loss) from discontinued operations, net of tax	0	0	0	0
Equity in loss of subsidiaries from discontinued operations	(46)	838	(4,236)	(99)
Net income (loss)		(12,355)	(12,161)	(25,464)
Change in unrealized loss related to available-for-sale securities			1,276
Comprehensive income (loss)	12,175		(10,885)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue	429,438	354,671	994,561	917,862
Home construction and land sales expenses	339,566	274,527	797,714	715,630
Inventory impairments and option contract abandonments	249	2,010	249	2,921
Gross profit	89,623	78,134	196,598	199,311
Commissions	17,246	14,322	40,141	37,239
General and administrative expenses	37,641	35,967	101,749	96,944
Depreciation and amortization	3,497	3,400	8,619	9,138
Operating income	31,239	24,445	46,089	55,990
Equity in income (loss) of unconsolidated entities	153	(81)	377	221
Loss on extinguishment of debt		0		0
Other (expense) income, net	193	216	(270)	1,427
(Loss) income before income taxes	31,585	24,580	46,196	57,638
(Benefit from) provision for income taxes	7,067	2,935	19,533	3,079
Equity in income of subsidiaries	0	0	0	0
Income (loss) from continuing operations	24,518	21,645	26,663	54,559
Income (loss) from discontinued operations, net of tax	(43)	842	(4,226)	(88)
Equity in loss of subsidiaries from discontinued operations	0	0	0	0
Net income (loss)		22,487	22,437	54,471
Change in unrealized loss related to available-for-sale securities			0
Comprehensive income (loss)	24,475		22,437
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue	33	100	165	279
Home construction and land sales expenses	0	0	0	0
Inventory impairments and option contract abandonments	0	0	0	0
Gross profit	33	100	165	279
Commissions	0	0	0	0
General and administrative expenses	28	27	88	88
Depreciation and amortization	0	0	0	0
Operating income	5	73	77	191
Equity in income (loss) of unconsolidated entities	0	0	0	0
Loss on extinguishment of debt		0		0
Other (expense) income, net	(1)	0	(4)	(4)
(Loss) income before income taxes	4	73	73	187
(Benefit from) provision for income taxes	2	26	27	66
Equity in income of subsidiaries	0	0	0	0
Income (loss) from continuing operations	2	47	46	121
Income (loss) from discontinued operations, net of tax	(3)	(4)	(10)	(11)
Equity in loss of subsidiaries from discontinued operations	0	0	0	0
Net income (loss)		43	36	110
Change in unrealized loss related to available-for-sale securities			0
Comprehensive income (loss)	(1)		36
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Total revenue	(33)	(100)	(165)	(279)
Home construction and land sales expenses	(33)	(100)	(165)	(279)
Inventory impairments and option contract abandonments	0	0	0	0
Gross profit	0	0	0	0
Commissions	0	0	0	0
General and administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Operating income	0	0	0	0
Equity in income (loss) of unconsolidated entities	0	0	0	0
Loss on extinguishment of debt		0		0
Other (expense) income, net	0	0	0	0
(Loss) income before income taxes	0	0	0	0
(Benefit from) provision for income taxes	0	0	0	0
Equity in income of subsidiaries	(24,520)	(21,692)	(26,709)	(54,680)
Income (loss) from continuing operations	(24,520)	(21,692)	(26,709)	(54,680)
Income (loss) from discontinued operations, net of tax	0	0	0	0
Equity in loss of subsidiaries from discontinued operations	46	(838)	4,236	99
Net income (loss)		$ (22,530)	(22,473)	$ (54,581)
Change in unrealized loss related to available-for-sale securities			0
Comprehensive income (loss)	$ (24,474)		$ (22,473)

Supplemental Guarantor Inform66

Supplemental Guarantor Information - Unaudited Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	$ (238,140)	$ (289,593)
Cash flows from investing activities:
Capital expenditures	(11,756)	(8,984)
Investments in unconsolidated entities	(2,651)	(4,567)
Proceeds from sale of marketable securities and unconsolidated entities	24,245	187
Increases in restricted cash	(3,806)	(10,081)
Decreases in restricted cash	28,936	1,096
Advances to/from subsidiaries	0
Net cash provided by (used in) investing activities	34,968	(22,349)
Cash flows from financing activities:
Repayment of debt	(11,934)	(305,085)
ProceedsFromIssuanceOfLongTermDebt	0	325,000
Repayment of borrowings from credit facility	50,000	0
Repayment of borrowings from credit facility	(30,000)	0
Debt issuance costs	(126)	(5,504)
Dividends paid	0
Advances to/from subsidiaries	0	0
Other financing activities	(170)	(446)
Net cash provided by financing activities	7,770	13,965
Decrease in cash and cash equivalents	(195,402)	(297,977)
Cash and cash equivalents at beginning of period	324,154	504,459
Cash and cash equivalents at end of period	128,752
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(55,814)	(90,773)
Cash flows from investing activities:
Capital expenditures	0	0
Investments in unconsolidated entities	0	0
Proceeds from sale of marketable securities and unconsolidated entities	0	0
Increases in restricted cash	(2,025)	(8,915)
Decreases in restricted cash	27,750	39
Advances to/from subsidiaries	(169,563)
Net cash provided by (used in) investing activities	(143,838)	(8,876)
Cash flows from financing activities:
Repayment of debt	(10,390)	(303,448)
ProceedsFromIssuanceOfLongTermDebt		325,000
Repayment of borrowings from credit facility	50,000
Repayment of borrowings from credit facility	(30,000)
Debt issuance costs	(126)	(5,504)
Dividends paid	500
Advances to/from subsidiaries	0	(214,598)
Other financing activities	(170)	(446)
Net cash provided by financing activities	9,814	(198,996)
Decrease in cash and cash equivalents	(189,838)	(298,645)
Cash and cash equivalents at beginning of period	301,980	499,341
Cash and cash equivalents at end of period	112,142
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(182,157)	(198,873)
Cash flows from investing activities:
Capital expenditures	(11,756)	(8,984)
Investments in unconsolidated entities	(2,651)	(4,567)
Proceeds from sale of marketable securities and unconsolidated entities	24,245	187
Increases in restricted cash	(1,781)	(1,166)
Decreases in restricted cash	1,186	1,057
Advances to/from subsidiaries	0
Net cash provided by (used in) investing activities	9,243	(13,473)
Cash flows from financing activities:
Repayment of debt	(1,544)	(1,637)
ProceedsFromIssuanceOfLongTermDebt		0
Repayment of borrowings from credit facility	0
Repayment of borrowings from credit facility	0
Debt issuance costs	0	0
Dividends paid	0
Advances to/from subsidiaries	170,305	216,882
Other financing activities	0	0
Net cash provided by financing activities	168,761	215,245
Decrease in cash and cash equivalents	(4,153)	2,899
Cash and cash equivalents at beginning of period	22,034	6,324
Cash and cash equivalents at end of period	17,881
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(169)	53
Cash flows from investing activities:
Capital expenditures	0	0
Investments in unconsolidated entities	0	0
Proceeds from sale of marketable securities and unconsolidated entities	0	0
Increases in restricted cash	0	0
Decreases in restricted cash	0	0
Advances to/from subsidiaries	25
Net cash provided by (used in) investing activities	25	0
Cash flows from financing activities:
Repayment of debt	0	0
ProceedsFromIssuanceOfLongTermDebt		0
Repayment of borrowings from credit facility	0
Repayment of borrowings from credit facility	0
Debt issuance costs	0	0
Dividends paid	(500)
Advances to/from subsidiaries	0	(50)
Other financing activities	0	0
Net cash provided by financing activities	(500)	(50)
Decrease in cash and cash equivalents	(644)	3
Cash and cash equivalents at beginning of period	1,614	1,637
Cash and cash equivalents at end of period	970
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Capital expenditures	0	0
Investments in unconsolidated entities	0	0
Proceeds from sale of marketable securities and unconsolidated entities	0	0
Increases in restricted cash	0	0
Decreases in restricted cash	0	0
Advances to/from subsidiaries	169,538
Net cash provided by (used in) investing activities	169,538	0
Cash flows from financing activities:
Repayment of debt	0	0
ProceedsFromIssuanceOfLongTermDebt		0
Repayment of borrowings from credit facility	0
Repayment of borrowings from credit facility	0
Debt issuance costs	0	0
Dividends paid	0
Advances to/from subsidiaries	(170,305)	(2,234)
Other financing activities	0	0
Net cash provided by financing activities	(170,305)	(2,234)
Decrease in cash and cash equivalents	(767)	(2,234)
Cash and cash equivalents at beginning of period	(1,474)	$ (2,843)
Cash and cash equivalents at end of period	$ (2,241)

Discontinued Operations - Resul

Discontinued Operations - Results of Discontinued Operations (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Inventory impairments and option contract abandonments		$ 249	$ 2,010	$ 249	$ 2,921
Income (loss) from discontinued operations, net of tax		(46)	838	(4,236)	(99)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenue		750	0	1,030	464
Home construction and land sales expenses	[1]	901	(1,343)	4,957	1,609
Gross profit		(151)	1,343	(3,927)	(1,145)
General and administrative expenses	[2]	(104)	397	314	(1,164)
Operating income (loss)		(47)	946	(4,241)	19
Other (expense) income, net		(1)	0	0	0
Income (loss) from discontinued operations before income taxes		(48)	946	(4,241)	19
Provision for (benefit from) income taxes		(2)	108	(5)	118
Income (loss) from discontinued operations, net of tax		$ (46)	838	(4,236)	(99)
Litigation settlement cost				$ 3,700
Legal Fee Recoveries			$ 1,900		$ 1,900
[1]	The nine months ended June 30, 2015 includes a $3.7 million expense related to the probable liability of a case regarding alleged past construction defects in our discontinued operations in Denver, Colorado.
[2]	The nine months ended June 30, 2014 includes approximately $1.9 million of recoveries received for legal fees related to outstanding matters in Denver, Colorado.