Beazer Homes USA (BZH) 10-Q 9 Feb 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2016	Feb. 03, 2017
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	Dec. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		33,544,628

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
ASSETS
Cash and cash equivalents	$ 158,623	$ 228,871
Restricted cash	15,963	14,405
Accounts receivable (net of allowance of $350 and $354, respectively)	51,797	53,226
Income tax receivable	288	292
Owned inventory	1,618,544	1,569,279
Investments in unconsolidated entities	5,065	10,470
Deferred tax assets, net	312,666	309,955
Property and equipment, net	19,335	19,138
Other assets	5,862	7,522
Total assets	2,188,143	2,213,158
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	86,730	104,174
Other liabilities	121,711	134,253
Total debt (net of premium of $1,535 and $1,482, respectively, and debt issuance costs of $14,509 and $15,514, respectively)	1,336,483	1,331,878
Total liabilities	1,544,924	1,570,305
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, 33,545,721 issued and outstanding and 33,071,331 issued and outstanding, respectively)	34	33
Paid-in capital	867,084	865,290
Accumulated deficit	(223,899)	(222,470)
Total stockholders’ equity	643,219	642,853
Total liabilities and stockholders’ equity	$ 2,188,143	$ 2,213,158

Unaudited Consolidated Balance3

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
ASSETS
Allowances for accounts receivable	$ 350	$ 354
LIABILITIES AND STOCKHOLDERS’ EQUITY
Debt (premium) discounts	(1,535)	(1,482)
Debt issuance costs	$ 14,509	$ 15,514
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	33,545,721	33,071,331
Common stock, shares outstanding	33,545,721	33,071,331

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income (Loss) and Unaudited Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Total revenue	$ 339,241	$ 344,449
Home construction and land sales expenses	285,578	285,511
Inventory impairments and abandonments	0	1,356
Gross profit	53,663	57,582
Commissions	13,323	13,774
General and administrative expenses	36,388	31,669
Depreciation and amortization	2,677	2,991
Depreciation and Amortization	2,677	2,991
Operating income	1,275	9,148
Equity in income of unconsolidated entities	22	60
Loss on extinguishment of debt	0	(828)
Other expense, net	(5,196)	(6,565)
Income (loss) before income taxes	(3,899)	1,815
Expense (benefit) from income taxes	(2,540)	616
Income (loss) from continuing operations	(1,359)	1,199
Loss from discontinued operations, net of tax	(70)	(200)
Net income (loss) and comprehensive income (loss)	$ (1,429)	$ 999
Weighted average number of shares:
Basic (shares)	31,893	31,757
Diluted (shares)	31,893	31,844
Basic income (loss) per share:
Continuing operations (in dollars per share)	$ (0.04)	$ 0.04
Discontinued operations (in dollars per share)	0	(0.01)
Total (in dollars per share)	(0.04)	0.03
Diluted income (loss) per share:
Continuing operations (in dollars per share)	(0.04)	0.04
Discontinued operations (in dollars per share)	0	(0.01)
Total (in dollars per share)	$ (0.04)	$ 0.03

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ (1,429)	$ 999
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	2,677	2,991
Stock-based compensation expense	2,176	1,756
Inventory impairments and abandonments	0	1,356
Deferred and other income tax expense (benefit)	(2,707)	318
Write-off of deposit on legacy land investment	2,700	0
Gain on sale of fixed assets	(46)	(771)
Change in allowance for doubtful accounts	(4)	(131)
Income (Loss) from Equity Method Investments	22	60
Cash distributions of income from unconsolidated entities	6	0
Changes in operating assets and liabilities:
Decrease in accounts receivable	1,433	1,955
Decrease in income tax receivable	4	150
Increase in inventory	(39,543)	(28,168)
Decrease in other assets	1,906	1,660
Decrease in trade accounts payable	(17,444)	(32,144)
Decrease in other liabilities	(12,541)	(27,760)
Net cash used in operating activities	(62,834)	(77,849)
Cash flows from investing activities:
Capital expenditures	(2,874)	(2,663)
Proceeds from sale of fixed assets	46	2,437
Investments in unconsolidated entities	(1,397)	(1,779)
Return of capital from unconsolidated entities	1,621	1,142
Increases in restricted cash	(3,646)	(1,119)
Decreases in restricted cash	2,088	669
Net cash used in investing activities	(4,162)	(1,313)
Cash flows from financing activities:
Repayment of debt	(2,525)	(26,926)
Debt issuance costs	(340)	(413)
Other financing activities	(387)	(201)
Net cash used in financing activities	(3,252)	(27,540)
Decrease in cash and cash equivalents	(70,248)	(106,702)
Cash and cash equivalents at beginning of period	228,871	251,583
Cash and cash equivalents at end of period	$ 158,623	$ 144,881

Description of Business

Description of Business	3 Months Ended
	Dec. 31, 2016
Description of Business [Abstract]
Description of Business	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 13 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, 2016 (2016 Annual Report).

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies The accompanying unaudited condensed 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 unaudited 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 adjustments) necessary for a fair presentation have been included in the accompanying unaudited financial statements. The results of our consolidated operations presented herein for the three months ended December 31, 2016 are not necessarily indicative of the results to be expected for the full year due to seasonal variations in our operations and other factors. For further information and a discussion of our significant accounting policies other than those discussed below, refer to Note 2 to the audited consolidated financial statements within our 2016 Annual Report. Basis of Consolidation. These unaudited condensed consolidated financial statements present the consolidated balance sheet, income (loss), comprehensive income (loss) and cash flows of the Company, including its consolidated subsidiaries. Intercompany balances have been eliminated in consolidation. In the past, we have discontinued homebuilding operations in various markets. Results from certain of these exited markets are reported as discontinued operations in the accompanying unaudited condensed consolidated statements of income for all periods presented (see Note 16 for a further discussion of our discontinued operations). We evaluated events that occurred after the balance sheet date but before these financial statements were issued for accounting treatment and disclosure. Our fiscal 2017 began on October 1, 2016 and ends on September 30, 2017. Our fiscal 2016 began on October 1, 2015 and ended on September 30, 2016. 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 condensed 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 2 and 5 to the audited consolidated financial statements within our 2016 Annual Report. Our homebuilding inventories that are accounted for as held for development (development projects in progress) 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 that 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 entities 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. In August 2015, the FASB issued ASU 2015-14 to defer the effective date of ASU 2014-09 for one year, which makes the guidance effective for the Company's first fiscal year beginning after December 15, 2017. Additionally, the FASB 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 continue to evaluate the impact of ASU 2014-09 on our consolidated financial statements and have been involved in industry-specific discussions with the FASB on the treatment of certain items. However, due to the nature of our operations and simplicity of our revenue recognition model, we do not anticipate the adoption of ASU 2014-09 to result in a significant impact to our financial statements. Nonetheless, we are still evaluating the impact of specific parts of this ASU, and expect our revenue-related disclosures to change. Leases. In February 2016, the FASB issued ASU 2016-02, Leases (ASU 2016-02). ASU 2016-02 requires lessees to record most leases on their balance sheets. The timing and classification of lease-related expenses for lessees will depend on whether a lease is determined to be a finance lease or an operating lease using updated criteria within ASU 2016-02. Operating leases will result in straight-line expense (similar to current operating leases), while finance leases will result in a front-loaded expense pattern (similar to current capital leases). Regardless of lease type, the lessee will recognize a right-of-use asset, representing the right to use the identified asset during the lease term, and a related lease liability, representing the present value of the lease payments over the lease term. Lessor accounting will be largely similar to that under the current lease accounting rules. The guidance within ASU 2016-02 will be effective for the Company's first fiscal year beginning after December 15, 2018, with early adoption permitted. ASU 2016-02 must be adopted using a modified retrospective approach, which requires application of the standard at the beginning of the earliest comparative period presented, with certain optional practical expedients. ASU 2016-02 also requires significantly enhanced disclosures around an entity's leases and the related accounting. We continue to evaluate the impact of ASU 2016-02 on our consolidated financial statements. However, a large majority of our leases are for office space, which we have determined will be treated as operating leases under ASU 2016-02. As such, we anticipate recording a right-of-use asset and related lease liability for these leases, but we do not expect our expense recognition pattern to change. Therefore, we do not anticipate any significant change to our statements of income or cash flows as a result of adopting ASU 2016-02. Statement of Cash Flows. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flow - Restricted Cash (ASU 2016-18). ASU 2016-18 requires that an entity's statement of cash flows explain the change during the period in that entity's total cash and cash equivalents, including amounts generally described as restricted cash or restricted cash equivalents. Therefore, changes in restricted cash and restricted cash equivalents will no longer be shown in the statement of cash flows. Additionally, an entity is to reconcile its cash and cash equivalents as per its balance sheet to the cash and cash equivalent balances presented in its statement of cash flows. The guidance within ASU 2016-18 will be effective for the Company's first fiscal year beginning after December 15, 2017, with early adoption permitted. While we continue to evaluate the impact of ASU 2016-18 on our financial statements, we expect the impact to be as follows: (1) changes in our restricted cash balances will no longer be shown in our statements of cash flows (within investing activities), as these balances will be included in the beginning and ending cash balances in our statements of cash flows and (2) we will include in our disclosures a reconciliation between our cash balances presented on our balance sheets with the amounts presented in our statements of cash flows.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Dec. 31, 2016
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: Three Months Ended December 31, (In thousands) 2016 2015 Supplemental disclosure of non-cash activity: Non-cash land acquisitions (a) $ 5,197 $ 3,769 Land acquisitions for debt 5,555 — Supplemental disclosure of cash activity: Interest payments 11,824 39,740 Income tax payments 178 146 Tax refunds received 4 150 (a) For the three months ended December 31, 2016 and December 31, 2015 , non-cash land acquisitions were comprised of lot takedowns from one of our unconsolidated land development joint ventures.

Investments in Unconsolidated E

Investments in Unconsolidated Entities	3 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities As of December 31, 2016 , we participated in certain joint ventures and other unconsolidated entities in which Beazer 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 December 31, 2016 and September 30, 2016 : (In thousands) December 31, 2016 September 30, 2016 Beazer’s investment in unconsolidated entities $ 5,065 $ 10,470 Total equity of unconsolidated entities 14,585 31,615 Total outstanding borrowings of unconsolidated entities 17,725 14,702 For the three months ended December 31, 2016 and 2015 , there were no impairments related to our investments in these unconsolidated entities. Our equity in income from unconsolidated entity activities for the three months ended December 31, 2016 and 2015 was $22 thousand and $60 thousand , respectively. Guarantees. Our joint ventures typically obtain secured acquisition, development and construction financing. Historically, Beazer and our joint venture partners have provided varying levels of guarantees of debt and other debt-related obligations for these unconsolidated entities. However, as of December 31, 2016 and September 30, 2016 , 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. These indemnities obligate us to reimburse the project lenders for claims related to environmental matters for which they are held responsible. During the three months ended December 31, 2016 and 2015 , 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	3 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Inventory	Inventory The components of our owned inventory are as follows as of December 31, 2016 and September 30, 2016 : (In thousands) December 31, 2016 September 30, 2016 Homes under construction $ 422,493 $ 377,191 Development projects in progress 778,078 742,417 Land held for future development 172,824 213,006 Land held for sale 28,021 29,696 Capitalized interest 144,299 138,108 Model homes 72,829 68,861 Total owned inventory $ 1,618,544 $ 1,569,279 Homes under construction include homes substantially finished and ready for delivery and homes in various stages of construction. We had 162 (with a cost of $47.1 million ) and 178 (with a cost of $56.1 million ) substantially completed homes that were not subject to a sales contract (spec homes) as of December 31, 2016 and September 30, 2016 , 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 by category in the table below as of December 31, 2016 and September 30, 2016 : (In thousands) Projects in Progress (a) Land Held for Future Development Land Held for Sale Total Owned Inventory December 31, 2016 West Segment $ 619,044 $ 147,861 $ 7,699 $ 774,604 East Segment 305,593 14,004 18,010 337,607 Southeast Segment 297,336 10,959 1,212 309,507 Corporate and unallocated (b) 195,726 — 1,100 196,826 Total $ 1,417,699 $ 172,824 $ 28,021 $ 1,618,544 September 30, 2016 West Segment $ 586,420 $ 172,015 $ 6,577 $ 765,012 East Segment 276,785 30,036 20,930 327,751 Southeast Segment 276,385 10,955 1,090 288,430 Corporate and unallocated (b) 186,987 — 1,099 188,086 Total $ 1,326,577 $ 213,006 $ 29,696 $ 1,569,279 (a) Projects in progress include homes under construction, development projects in progress, capitalized interest and model home categories from the preceding table. (b) Projects in progress amount includes capitalized interest and indirect costs that are maintained within Corporate and unallocated. Land held for sale amount includes parcels held by our discontinued operations. Inventory Impairments. When conducting our community level review for the recoverability of our inventory related to projects in progress, we establish a quarterly “watch list” of communities that carry gross margins in backlog and in our forecast that are below a minimum threshold of profitability, as well as recent closings that have gross margins less than a specific threshold. Each community is first evaluated qualitatively to determine if there are temporary factors driving the low profitability levels. Following our qualitative evaluation, communities with more than 10 homes remaining to close are subjected to substantial additional financial and operational analyses and review that consider the competitive environment and other factors contributing to gross 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 is 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 December 31, 2016 , there were eight communities on our watch list, seven in our West segment and the other in our East segment. However, none of these communities required further analysis to be performed after considering certain qualitative factors. For the quarter ended December 31, 2015 , there were no communities on our quarterly watch list that required further impairment analysis to be performed. 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 calculate the estimated fair value 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. Additionally, in certain limited instances, we are forced to abandon lots due to permitting or other regulatory issues that do not allow us to build on those lots. If we intend to abandon or walk away from a property, we record a charge to earnings for the deposit amount and any related capitalized costs in the period such decision is made. Abandonment charges generally relate to our decision to abandon lots or not exercise certain option contracts that are not projected to produce adequate results, no longer fit with our long-term strategic plan or, in limited circumstances, are not suitable for building due to regulatory or environmental restrictions that are enacted. We did not have any land held for sale inventory impairments, nor did we have any abandonment charges, during the three months ended December 31, 2016 . The following table presents, by reportable segment, our total impairment and abandonment charges for the three months ended December 31, 2015 : Three Months Ended December 31, (In thousands) 2015 Land Held for Sale: East $ 197 Southeast 371 Total impairment charges on land held for sale $ 568 Abandonments: Southeast $ 788 Total abandonments charges $ 788 Total impairment and abandonment charges $ 1,356 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. The 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 incurred. 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. The following table provides a summary of our interests in lot option agreements as of December 31, 2016 and September 30, 2016 : (In thousands) Deposits & Non-refundable Pre-acquisition Costs Incurred Remaining Obligation As of December 31, 2016 Unconsolidated lot option agreements $ 78,001 $ 412,881 As of September 30, 2016 Unconsolidated lot option agreements $ 80,433 $ 446,414

Interest

Interest	3 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Interest	Interest Our ability to capitalize interest incurred during the three months ended December 31, 2016 and 2015 was limited by our inventory eligible for capitalization. The following table presents certain information regarding interest for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Capitalized interest in inventory, beginning of period $ 138,108 $ 123,457 Interest incurred 27,087 30,088 Interest expense not qualified for capitalization and included as other expense (a) (5,252 ) (7,432 ) Capitalized interest amortized to home construction and land sales expenses (b) (15,644 ) (13,651 ) Capitalized interest in inventory, end of period $ 144,299 $ 132,462 (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 home 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.

Borrowings

Borrowings	3 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Borrowings	Borrowings As of December 31, 2016 and September 30, 2016 , we had the following debt, net of premiums/discounts and unamortized debt issuance costs: (In thousands) Maturity Date December 31, 2016 September 30, 2016 5 3/4% Senior Notes June 2019 $ 321,393 $ 321,393 7 1/2% Senior Notes September 2021 198,000 198,000 8 3/4% Senior Notes March 2022 500,000 500,000 7 1/4% Senior Notes February 2023 199,834 199,834 Unamortized debt premium, net 2,260 2,362 Unamortized debt issuance costs (13,314 ) (14,063 ) Total Senior Notes, net 1,208,173 1,207,526 Term Loan (net of unamortized discount of $725 and $880, respectively, and unamortized debt issuance costs of $1,195 and $1,451, respectively) March 2018 53,080 52,669 Junior Subordinated Notes (net of unamortized accretion of $40,387 and $40,903, respectively) July 2036 60,387 59,870 Other Secured Notes payable Various Dates 14,843 11,813 Total debt, net $ 1,336,483 $ 1,331,878 Secured Revolving Credit Facility. Our Secured Revolving Credit Facility (the Facility) provides us with working capital and letter of credit capacity. On October 13, 2016, we executed a third amendment (the Third Amendment) to the Facility. The Third Amendment (1) extended the termination date of the Facility from January 15, 2018 to February 15, 2019; (2) increased the maximum aggregate amount of commitments under the Facility (including borrowings and letters of credit) from $145.0 million to $180.0 million ; (3) reduced the aggregate collateral ratio (as defined by the underlying Credit Agreement) from 5.00 to 1.00 to 4.00 to 1.00 ; and (4) reduced the after-acquired exclusionary condition (also as defined by the underlying Credit Agreement) from $1.0 billion to $800.0 million . The facility continues to be with three lenders. For additional discussion of the Facility, refer to Note 8 to the audited consolidated financial statements within our 2016 Annual Report. As of December 31, 2016 and September 30, 2016 , we had no borrowings outstanding under the Facility. As of December 31, 2016 , we had $37.5 million in letters of credit outstanding under the Facility, leaving us with $142.5 million in remaining capacity. The Facility contains certain covenants, including negative covenants and financial maintenance covenants, with which we are required to comply. As of December 31, 2016 , we were in compliance with all such covenants. Letter of Credit Facilities. We have entered into 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 (in addition to the letters of credit issued under the Facility). As of December 31, 2016 and September 30, 2016 , we had letters of credit outstanding under these additional facilities of $11.5 million and $12.1 million , respectively, all of which were secured by cash collateral in restricted accounts. The Company may enter into additional arrangements to provide further letter of credit capacity. Senior Notes. Our Senior Notes are unsecured 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. See Note 15 for further information. 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 the term loan (defined below), 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. 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 certain types of additional indebtedness and to make certain investments. 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 December 31, 2016 . The table below summarizes the redemption terms for our Senior Notes: Senior Note Description Issuance Date Maturity Date Redemption Terms 5 3/4% Senior Notes April 2014 June 2019 Callable at any time before 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; on or after March 15, 2019, callable at 100% of the principal amount plus, in each case, accrued and unpaid interest 7 1/2% Senior Notes September 2013 September 2021 Callable at a redemption price equal to 105.625% of the principal amount; on or after September 15, 2017, callable at a redemption price equal to 103.75% of the principal amount; on or after September 15, 2018, callable at a redemption price equal to 101.875% of the principal amount; on or after September 15, 2019, callable at 100% of the principal amount plus, in each case, accrued and unpaid interest 8 3/4% Senior Notes September 2016 March 2022 Callable 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; on or after March 15, 2019, callable at a redemption price equal to 104.375% of the principal amount; on or after March 15, 2020, callable at a redemption price equal to 102.188% of the principal amount; on or after March 15, 2021, callable at a redemption price equal to 100% of the principal amount plus, in each case, accrued and unpaid interest 7 1/4% Senior Notes February 2013 February 2023 Callable at any time prior to February 1, 2018, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium; on or after February 1, 2018, callable at a redemption price equal to 103.625% of the principal amount; on or after February 1, 2019, callable at a redemption price equal to 102.41% of the principal amount; on or after February 1, 2020, callable at a redemption price equal to 101.208% of the principal amount; on or after February 1, 2021, callable at 100% of the principal amount plus, in each case, accrued and unpaid interest During the first quarter of our fiscal 2016, we paid down $22.9 million of the then outstanding Senior Notes due June 2016, which resulted in a loss on extinguishment of debt of $0.8 million . Term Loan. In March 2016, we entered into a credit agreement (the Credit Agreement) that provided us with a $140 million , two -year secured term loan (the Term Loan). The Term Loan requires quarterly principal payments of $17.5 million that started on June 30, 2016, and bears interest at the London Interbank Offered Rate (LIBOR) plus 550 basis points ( 6.750% as of December 31, 2016 ). The Term Loan will mature and all remaining amounts outstanding thereunder will be due and payable on March 11, 2018, but can be pre-paid at any time without penalty. In addition to regularly scheduled payments on the Term Loan made during our fiscal 2016, we made a prepayment of $50.0 million during the fourth quarter of fiscal 2016. Substantially all of our subsidiaries are guarantors of the obligations under the Credit Agreement. Collectively, we granted security interests and mortgage liens on substantially all of our tangible and intangible assets on a second lien basis, since they are subordinate to those that exist on the Facility. The Credit Agreement contains covenants which, subject to certain exceptions, limit the ability of the Company and its restricted subsidiaries (as defined in the Credit Agreement) to, among other things, incur additional indebtedness, engage in certain asset sales, make certain types of restricted payments and create liens on assets of the Company or its restricted subsidiaries; these covenants are similar to existing covenants under our Senior Notes. In addition, the Credit Agreement requires the Company’s inventory (as defined in the Credit Agreement) to be no less than $1.25 billion as of the last day of any fiscal quarter. The Credit Agreement also includes customary events of default, including, but not limited to, the failure to pay any interest, principal or fees when due; the failure to perform or the violation of any covenant or agreement; inaccurate or false representations or warranties; a default on other material indebtedness, insolvency or bankruptcy; a change of control; and the occurrence of certain material judgments against the Company. As of December 31, 2016 , we were in compliance with all such covenants. Junior Subordinated Notes. Our unsecured junior subordinated notes (Junior Subordinated Notes) mature on July 30, 2036. The Junior Subordinated Notes are redeemable at par and paid interest at a fixed rate of 7.987% for the first ten years ending July 30, 2016. The securities now have a floating interest rate as defined in the Junior Subordinated Notes Indenture, which was a weighted-average of 4.02% as of December 31, 2016 (because the rate on the portion of the Junior Subordinated Notes that was modified, as discussed below, is subject to a floor). The obligations relating to these notes are subordinated to the Facility, the Senior Notes and the Term Loan. In January 2010, we modified the terms of $75.0 million of these notes and recorded them at their then 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 December 31, 2016 , the unamortized accretion was $40.4 million and will be amortized over the remaining life of the notes. As of December 31, 2016 , we were in compliance with all covenants under our Junior Subordinated Notes. Other Secured Notes Payable. We periodically acquire land through the issuance of notes payable. As of December 31, 2016 and September 30, 2016 , we had outstanding secured notes payable of $14.8 million and $11.8 million , respectively, primarily related to land acquisitions. These secured notes payable related to land acquisitions have varying expiration dates between 2017 and 2019, and have a weighted-average fixed interest rate of 3.12% as of December 31, 2016 . 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.

Contingencies

Contingencies	3 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Beazer Homes and certain of its 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 for up to ten years covering only certain defined structural element failures. 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 consolidated balance sheets, and the provision for warranty accruals is included in home construction expenses in our 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 December 31, (In thousands) 2016 2015 Balance at beginning of period $ 39,131 $ 27,681 Accruals for warranties issued (a) 2,658 2,615 Changes in liability related to warranties existing in prior periods (b) 5,392 10,600 Payments made (b) (14,872 ) (11,983 ) Balance at end of period $ 32,309 $ 28,913 (a) Accruals for warranties issued are a function of the number of home closings in the period, the selling prices of the homes closed and the rates of accrual per home estimated as a percentage of the selling price of the home. (b) Changes in liability related to warranties existing and payments made in all periods presented are elevated due to charges and subsequent payments related to water intrusion issues in certain of our communities located in Florida (refer to separate discussion below). Florida Water Intrusion Issues In the latter portion of fiscal 2014, we began to experience an increase in calls from homeowners reporting stucco and water intrusion issues in certain of our communities in Florida (the Florida stucco issues). These issues continued to be reported to us throughout our fiscal 2015 and fiscal 2016. Other builders were also dealing with stucco issues, some of which also received local media coverage. Through December 31, 2016 , we cumulatively recorded charges related to these issues of $83.2 million (of which $9.0 million was recorded in the three months ended December 31, 2015 ). As of September 30, 2016, the accrual to cover outstanding payments and potential repair costs for the impacted homes was $22.6 million , after considering the repair costs already paid. For an additional discussion of this matter and the related expenses recorded in prior periods, refer to Note 9 to the audited consolidated financial statements within our 2016 Annual Report. During the first quarter of our fiscal 2017, the number of homeowner calls beyond those anticipated based on our procedures and previous call history continued to trend down. However, largely due to increased cost estimates for repairs of homes discovered in more recent periods, we recorded additional warranty expense related to the Florida stucco issues of $4.6 million during the three months ended December 31, 2016 . As of December 31, 2016 , 705 homes have been identified as likely to require repairs (an increase of 16 homes over those that were anticipated to require repairs as of the end of our fiscal 2016), of which 510 homes have been repaired. We made payments related to the Florida stucco issues of $10.0 million during the three months ended December 31, 2016 , including payments on fully repaired homes, as well as payments on homes for which remediation is not yet complete, bringing the remaining accrual related to this issue to $17.2 million as of December 31, 2016 , which is included in our overall warranty liability detailed above. As of December 31, 2016 , other homes in the impacted communities remain within the period of the applicable statute of repose, but as of the end of the current quarter are not deemed likely to require repairs and, accordingly, no reserve has been established for these homes. The cost to repair these homes would be approximately $4.2 million if the current cost estimates were applied to these additional homes. Our assessment of the Florida stucco issues is ongoing. As a result, we anticipate that the ultimate magnitude of our liability may change as additional information is obtained. Certain visual and other inspections of the homes that could be subject to defect often do not reveal the severity or extent of the defects, which can only be discovered once we receive a homeowner call and begin repairs. The current quarter charges were offset by additional insurance recoveries; for a discussion of the amounts we have already recovered or anticipate recovering from our insurer, refer to “Insurance Recoveries” section below. In addition, we believe that we will also recover a portion of such repair costs from sources other than our own insurer, 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 condensed consolidated financial statements as of December 31, 2016 . Any amounts recovered from our subcontractors related to homes closed during policy years for which we have exceeded the deductible in our insurance policies would be remitted to our insurers, while recoveries in other policy years would be retained by us. Insurance Recoveries The Company has insurance policies that provide for the reimbursement of certain warranty costs incurred by us above a specified threshold for each period covered. We have surpassed these thresholds for certain policy years, particularly those that cover most of the homes impacted by the Florida stucco issues discussed above. As such, beginning with the first quarter of our fiscal 2015, we expect a substantial majority of additional costs incurred for warranty work on homes within these policy years to be reimbursed by our insurers. For one policy year, our accruals have exceeded the insurance claim limit for one division under our first layer of coverage; however, we expect to claim and recover such amounts under our excess insurance coverage. Warranty expense beyond the deductibles set in our insurance policies was recorded related to homes impacted by the Florida stucco issues, as well as other various warranty issues that are in excess of our insurance thresholds, resulting in our recognition of $3.9 million in insurance recoveries during the three months ended December 31, 2016 that we deem probable of receiving; this amount largely offset the current quarter expense related to the Florida stucco issues. For the three months ended December 31, 2015 , $13.7 million was recorded in insurance recoveries. The recoveries recorded during the prior year quarter were $3.6 million greater than the underlying expense related to the Florida stucco issues of $9.0 million , as we began to recover more costs than initially anticipated. The remaining recovery amount during the first quarter of fiscal 2016 related to expenditures for warranty issues that were individually immaterial but were also in excess of our insurance thresholds. Amounts recorded for anticipated insurance recoveries are reflected within our consolidated statements of income as a reduction of our home construction expenses, and associated amounts not yet received from our insurer are recorded on a gross basis (i.e. not net of any associated warranty expense) as a receivable within accounts receivable on our consolidated balance sheets. Amounts still to be recovered under our insurance policies will vary based on whether expected additional warranty costs are actually 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 amounts ultimately owed to us from our insurer. Litigation From time-to-time, we receive claims from institutions that have acquired mortgages originated by our subsidiary, Beazer Mortgage Corporation (BMC), demanding damages or indemnity or that we repurchase such mortgages. BMC stopped originating mortgages in 2008. We have been able to resolve these claims for no cost or for amounts that are not material to our consolidated financial statements. We cannot rule out the potential for additional mortgage loan repurchase or indemnity claims in the future from other investors. At this time, we do not believe that the exposure related to any such claims would be material to our consolidated financial condition, results of operations or cash flows. As of December 31, 2016 , no liability has been recorded for any additional claims related to this matter, as such exposure is not both probable and reasonably estimable. A purported class action lawsuit was filed on July 7, 2016 against the Company in Maricopa County Arizona Superior Court on behalf of all homeowners in Arizona that purchased homes from the Company that included a certain type of roof underlayment. The complaint alleges various construction defects, but principally claims that the roof underlayment is susceptible to leaks and was not installed in accordance with best practices. We removed this case to federal court and filed motions to dismiss the class action allegations on various grounds. The plaintiffs have now withdrawn the class action allegations without prejudice and filed an amended complaint. In light of the dismissal of the class action allegations, the Company is handling this matter in the ordinary course of defending against alleged construction defect claims covered by the Company’s warranty. As such, the Company does not plan to report further on this case in future periodic reports. 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 During January 2017, we made our final payment under the Deferred Prosecution Agreement and associated Bill of Information (the DPA) entered into on July 1, 2009 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 (HUD) and the Civil Division of the United States Department of Justice (the HUD Agreement). For a further discussion of the HUD Agreement, refer to Note 9 to the audited consolidated financial statements within our 2016 Annual Report. During the three months ended December 31, 2015 , we accrued $1.2 million related to the HUD Agreement, which was recorded within general and administrative expenses (G&A) in our consolidated statement of income. 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 will not have a material adverse effect on our financial condition, results of operations or cash flows. We have an accrual of $9.2 million and $10.2 million in other liabilities on our consolidated balance sheets related to litigation and other matters, excluding warranty, as of December 31, 2016 and September 30, 2016 , respectively. We had outstanding letters of credit and performance bonds of approximately $49.0 million and $220.5 million , respectively, as of December 31, 2016 , 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 December 31, 2016 .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements As of the dates presented, we had assets on our consolidated balance sheets 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 is based on market-corroborated inputs (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 an impairment may exist, but no less than quarterly. Fair value on assets deemed to be impaired are determined based upon the type of asset being evaluated. The fair value of our owned inventory assets, when required to be calculated, is discussed within Notes 2 and 5. The fair value of our investments in unconsolidated entities is determined primarily using a discounted cash flow model to value the underlying net assets of the respective entities. Determining which hierarchical level an asset or liability falls within requires significant judgment. We evaluate our hierarchy disclosures each quarter. The following table presents the period-end balances of our assets measured at fair value on a recurring basis, and the impairment-date fair value of certain assets measured at fair value on a non-recurring basis, for each hierarchy level. These balances represent only those assets whose carrying values were adjusted to fair value during the periods presented: (In thousands) Level 1 Level 2 Level 3 Total Three Months Ended December 31, 2016 Deferred compensation plan assets (a) $ — $ 1,006 $ — $ 1,006 Three Months Ended December 31, 2015 Deferred compensation plan assets (a) — 747 — 747 Land held for sale (b) — — 16,213 (c) 16,213 As of September 30, 2016 Deferred compensation plan assets (a) — 765 — 765 (a) Measured at fair value on a recurring basis. (b) Measured at fair value on a non-recurring basis. (c) Amount represents the impairment-date fair value of certain land held for sale assets that were impaired during the three months ended December 31, 2015 . The fair value of our cash and cash equivalents, restricted cash, accounts receivable, trade accounts payable, other liabilities, amounts due under the Facility (if outstanding) and other secured notes payable approximate their carrying amounts due to the short maturity of these assets and liabilities. When outstanding, obligations related to land not owned under option agreements approximate fair value. The following table presents the carrying value and estimated fair value of certain of our other financial liabilities as of December 31, 2016 and September 30, 2016 : As of December 31, 2016 As of September 30, 2016 (In thousands) Carrying (a) Fair Value Carrying (a) Fair Value Senior Notes (b) $ 1,208,173 $ 1,282,912 $ 1,207,526 $ 1,253,614 Term Loan 53,080 53,080 52,669 52,669 Junior Subordinated Notes 60,387 60,387 59,870 59,870 $ 1,321,640 $ 1,396,379 $ 1,320,065 $ 1,366,153 (a) Carrying amounts are net of unamortized debt premium/discounts, debt issuance costs or accretion. (b) The estimated fair value for our publicly-held Senior Notes has been determined using quoted market rates (Level 2).

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income Tax Provision. Our income tax provision for quarterly interim periods is based on an estimated annual effective income tax rate calculated separately from the effect of significant, infrequent or unusual items. Our total income tax benefit, including discontinued operations, was $2.6 million for the three months ended December 31, 2016 , compared to income tax expense of $0.6 million for the three months ended December 31, 2015 . Our current quarter income tax benefit was primarily driven by (1) the loss in earnings from continuing operations in the current period and (2) the Company's completion of work necessary to claim an additional $1.2 million in tax credits, which were recorded in the current quarter but related to our fiscal 2016. The tax expense for the three months ended December 31, 2015 was primarily driven by our earnings from continuing operations. Deferred Tax Assets and Liabilities. The Company continues to evaluate its deferred tax assets each period to determine if a valuation allowance is required based on whether it “is more likely than not” that some portion of these deferred tax assets will not be realized. As of September 30, 2016 and again as of December 31, 2016 , we concluded that it is more likely than not that a substantial portion of our deferred tax assets will be realized. As of December 31, 2016 , our conclusions on the valuation allowance of $66.3 million and Internal Revenue Code Section 382 limitations related to our deferred tax assets remain consistent with the determinations we made during the period ended September 30, 2016 and are based on similar company specific and industry factors to those discussed in Note 13 to the audited consolidated financial statements within our 2016 Annual Report. Miscellaneous Tax Matters. In the normal course of business, we are subject to audits by federal and state tax authorities regarding various tax liabilities. 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 2007 and subsequent years.

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation Our total stock-based compensation expense is included in G&A in our consolidated statements of income. A summary of the expense related to stock-based compensation by award type is as follows for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Stock options expense $ 107 $ 148 Restricted stock awards expense 2,069 1,608 Before tax stock-based compensation expense 2,176 1,756 Tax benefit (774 ) (597 ) After tax stock-based compensation expense $ 1,402 $ 1,159 During the three months ended December 31, 2016 and 2015 , employees surrendered 30,018 shares and 14,536 shares, respectively, to us in payment of minimum tax obligations upon the vesting of stock awards under our stock incentive plans. We valued this stock at the market price on the date of surrender, for an aggregate value of approximately $387,000 and $201,000 for the three months ended December 31, 2016 and 2015 , respectively. Stock Options. The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option-pricing model (Black-Scholes Model). The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price. As of December 31, 2016 , the intrinsic value of our stock options outstanding, vested and expected to vest and exercisable were $0.7 million , $0.7 million and $0.3 million , respectively. As of December 31, 2016 and September 30, 2016 , there was $0.5 million and $0.4 million , respectively, of total unrecognized compensation cost related to nonvested stock options. The cost remaining as of December 31, 2016 is expected to be recognized over a weighted-average period of 2.0 years . During the three months ended December 31, 2016 , we issued 27,110 stock options, each for one share of the Company's stock. These stock options typically vest ratably over three years from the date of grant, or two years from the date of grant if issued under the Employee Stock Option Program (EOP; refer to Note 16 of the notes to the consolidated financial statements in our 2016 Annual Report). We used the following assumptions for stock options granted, which derived the weighted average fair value shown, for the period presented: Three Months Ended December 31, 2016 Expected life of options 5.4 years Expected volatility 50.26 % Expected dividends — Weighted average risk-free interest rate 1.83 % Weighted average fair value $ 5.87 We relied upon a combination of the observed exercise behavior of our prior grants with similar characteristics, the vesting schedule of the current grants and an index of peer companies with similar grant characteristics to determine the expected life of the options granted. We considered historic returns of our stock and the implied volatility of our publicly-traded options in determining expected volatility. We assumed no dividends would be paid, since our Board of Directors has suspended payment of dividends indefinitely and payment of dividends is restricted under our Senior Note covenants. The risk-free interest rate is based on the term structure of interest rates at the time of the option grant. Activity related to stock options for the period presented is as follows: Three Months Ended December 31, 2016 Shares Weighted Average Outstanding at beginning of period 672,669 $ 16.49 Granted 27,110 12.52 Forfeited (1,334 ) 8.37 Outstanding at end of period 698,445 $ 16.35 Exercisable at end of period 567,599 $ 17.79 Vested or expected to vest in the future 694,487 $ 16.40 Restricted Stock Awards. The fair value of each restricted stock award with any market conditions is estimated on the date of grant using the Monte Carlo valuation method. The fair value of any restricted stock awards without market conditions is based on the market price of the Company's common stock on the date of grant. If applicable, the cash-settled component of any awards granted to employees is accounted for as a liability, which is adjusted to fair value each reporting period until vested. Compensation cost arising from restricted stock awards granted to employees is recognized as an expense using the straight-line method over the vesting period. As of December 31, 2016 and September 30, 2016 , there was $15.8 million and $11.0 million , respectively, of total unrecognized compensation cost related to nonvested restricted stock awards. The cost remaining as of December 31, 2016 is expected to be recognized over a weighted average period of 2.0 years . We issued two types of restricted stock awards during the current quarter as follows: (1) performance-based restricted stock awards with a payout based on the Company's performance and certain market conditions and (2) time-based restricted stock awards. Each award type is discussed further below. Performance-Based Restricted Stock Awards. During the three months ended December 31, 2016 , we issued 263,696 shares of performance-based restricted stock (2017 Performance Shares) to our executive officers and certain other employees that also have market conditions. The 2017 Performance Shares are structured to be awarded based on the Company's performance under three pre-determined financial metrics at the end of the three -year performance period. After determining the number of shares earned based on these financial metrics, which can range from 0% to 175% of the targeted number of shares, the award will be subject to further upward or downward adjustment by as much as 20% based on the Company's relative total shareholder return (TSR) compared against the S&P Homebuilders Select Industry Index during the three -year performance period. The 2017 Performance Shares were valued using the Monte Carlo valuation model due to the existence of the TSR market condition and had an estimated fair value of $13.60 per share on the date of grant. 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 2017 Performance Shares: 0% dividend yield for the Company, expected price volatility ranging from 32.6% to 66.0% and a risk-free interest rate of 1.30% . 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. Each Performance Share represents a contingent right to receive one share of the Company's common stock if vesting is satisfied at the end of the three -year performance period. Any 2017 Performance Shares earned in excess of the target number of 263,696 shares may be settled in cash or additional shares at the discretion of the Compensation Committee of our Board of Directors. Any portion of these that do not vest at the end of the period will be forfeited. Time-Based Restricted Stock Awards. During three months ended December 31, 2016 , we also issued 269,402 shares of time-based restricted stock (Restricted Shares) to our directors, executive officers and certain other employees. The Restricted Shares granted to our non-employee directors vest on the one-year anniversary of the date of grant, while the Restricted Shares granted to our executive officers and other employees vest ratably over three years from the date of grant. Activity relating to restricted stock awards for the period presented is as follows: Three Months Ended December 31, 2016 Performance-Based Restricted Stock Time-Based Restricted Stock Total Restricted Stock Shares Weighted Average Shares Weighted Average Shares Weighted Average Beginning of period 448,693 $ 16.71 807,124 $ 17.52 1,255,817 $ 17.23 Granted 263,696 13.60 269,402 12.51 533,098 13.05 Vested — — (183,730 ) 15.49 (183,730 ) 15.49 Forfeited (28,690 ) 11.65 — — (28,690 ) 11.65 End of period 683,699 $ 15.72 892,796 $ 16.43 1,576,495 $ 16.12

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2016
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 December 31, 2016 . 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 three months ended December 31, 2016 and 2015 , 1.5 million and 1.2 million shares, respectively, related to nonvested stock-based compensation awards 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 (loss) per share is reconciled to shares used to calculate diluted income (loss) per share as follows for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Basic shares 31,893 31,757 Shares issuable upon vesting/exercise of stock awards/options — 87 Diluted shares 31,893 31,844

Other Liabilities

Other Liabilities	3 Months Ended
	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities Other liabilities include the following as of December 31, 2016 and September 30, 2016 : (In thousands) December 31, 2016 September 30, 2016 Accrued warranty expense $ 32,309 $ 39,131 Accrued interest 25,089 11,530 Accrued bonuses and deferred comp 14,464 30,466 Customer deposits 13,273 12,140 Litigation accrual 9,187 10,178 Income tax liabilities 1,772 1,718 Other 25,617 29,090 Total other liabilities $ 121,711 $ 134,253

Segment Information

Segment Information	3 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information We currently operate in 13 states that are grouped into three homebuilding segments based on geography. Revenues from our homebuilding segments are derived from the sale of homes that 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 three reportable segments as follows: West : Arizona, California, Nevada and Texas East : Delaware, Indiana, Maryland, New Jersey (a) , Tennessee and Virginia Southeast : Florida, Georgia, North Carolina and South Carolina (a) During our fiscal 2015, we made the decision that we would not continue to reinvest in new homebuilding assets in our New Jersey division; therefore, it is no longer considered an active operation. However, it is included in this listing because the segment information below continues to include New Jersey. 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 sales expense, commission expense, depreciation and amortization and certain G&A expenses that are incurred by or allocated to our homebuilding segments. The accounting policies of our segments are described in Note 2 to the consolidated financial statements within our 2016 Annual Report. The following tables contain our revenue, operating income and depreciation and amortization by segment for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Revenue West $ 171,749 $ 157,196 East 84,159 100,557 Southeast 83,333 86,696 Total revenue $ 339,241 $ 344,449 Three Months Ended December 31, (In thousands) 2016 2015 Operating income West $ 21,015 $ 16,786 East (a) 1,557 4,147 Southeast (b) 5,015 10,657 Segment total 27,587 31,590 Corporate and unallocated (c) (26,312 ) (22,442 ) Total operating income $ 1,275 $ 9,148 Three Months Ended December 31, (In thousands) 2016 2015 Depreciation and amortization West $ 1,248 $ 1,218 East 529 797 Southeast 466 449 Segment total 2,243 2,464 Corporate and unallocated (b) 434 527 Total depreciation and amortization $ 2,677 $ 2,991 (a) Operating income for our East segment for the three months ended December 31, 2016 was impacted by a charge to G&A of $2.7 million related to the write-off of a deposit on a legacy investment in a development site that we deemed noncollectible. (b) Operating income for our Southeast segment for the three months ended December 31, 2015 was impacted by unexpected warranty costs related to the Florida stucco issues, net of expected insurance recoveries. This impact was a credit of $3.6 million . (c) Corporate and unallocated operating loss includes amortization of capitalized interest; movement in capitalized indirects; expenses related to numerous shared services functions that benefit all segments but are not allocated to the operating segments reported above, including information technology, treasury, corporate finance, legal, branding and national marketing; and certain other amounts that are not allocated to our operating segments. Corporate and unallocated depreciation and amortization represents depreciation and amortization related to assets held by our corporate functions that benefit all segments. The following table contains our capital expenditures by segment for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Capital Expenditures West $ 1,184 $ 1,133 East 771 467 Southeast 618 969 Corporate and unallocated 301 94 Total capital expenditures $ 2,874 $ 2,663 The following table contains our asset balance by segment as of December 31, 2016 and September 30, 2016 : (In thousands) December 31, 2016 September 30, 2016 Assets West $ 796,962 $ 778,521 East 346,524 344,898 Southeast 344,074 333,501 Corporate and unallocated (a) 700,583 756,238 Total assets $ 2,188,143 $ 2,213,158 (a) Primarily consists of cash and cash equivalents, restricted cash, deferred taxes, capitalized interest and indirects and other items that are not allocated to the segments.

Supplemental Guarantor Informat

Supplemental Guarantor Information	3 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Guarantor information	Supplemental Guarantor Information As discussed in Note 7, our obligations to pay principal, premium, if any, and interest under certain debt 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, Term Loan 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 condensed consolidated financial statements separated by amounts related to the parent issuer, guarantor subsidiaries, non-guarantor subsidiaries and consolidating adjustments as of or for the periods presented. Beazer Homes USA, Inc. Unaudited Condensed Consolidating Balance Sheet Information December 31, 2016 (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated ASSETS Cash and cash equivalents $ 159,886 $ 4,292 $ 853 $ (6,408 ) $ 158,623 Restricted cash 14,683 1,280 — — 15,963 Accounts receivable (net of allowance of $350) — 51,797 — — 51,797 Income tax receivable 288 — — — 288 Owned inventory — 1,618,544 — — 1,618,544 Investments in unconsolidated entities 773 4,292 — — 5,065 Deferred tax assets, net 312,666 — — — 312,666 Property and equipment, net — 19,335 — — 19,335 Investments in subsidiaries 713,629 — — (713,629 ) — Intercompany 789,502 — 2,376 (791,878 ) — Other assets 822 5,040 — — 5,862 Total assets $ 1,992,249 $ 1,704,580 $ 3,229 $ (1,511,915 ) $ 2,188,143 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $ — $ 86,730 $ — $ — $ 86,730 Other liabilities 25,014 96,345 352 — 121,711 Intercompany 2,376 795,910 — (798,286 ) — Total debt (net of premium and debt issuance costs) 1,321,640 14,843 — — 1,336,483 Total liabilities 1,349,030 993,828 352 (798,286 ) 1,544,924 Stockholders’ equity 643,219 710,752 2,877 (713,629 ) 643,219 Total liabilities and stockholders’ equity $ 1,992,249 $ 1,704,580 $ 3,229 $ (1,511,915 ) $ 2,188,143 Beazer Homes USA, Inc. Unaudited Condensed Consolidating Balance Sheet Information September 30, 2016 (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated ASSETS Cash and cash equivalents $ 215,646 $ 16,866 $ 859 $ (4,500 ) $ 228,871 Restricted cash 12,867 1,538 — — 14,405 Accounts receivable (net of allowance of $354) — 53,225 1 — 53,226 Income tax receivable 292 — — — 292 Owned inventory — 1,569,279 — — 1,569,279 Investments in unconsolidated entities 773 9,697 — — 10,470 Deferred tax assets, net 309,955 — — — 309,955 Property and equipment, net — 19,138 — — 19,138 Investments in subsidiaries 701,931 — — (701,931 ) — Intercompany 734,766 — 2,574 (737,340 ) — Other assets 577 6,930 15 — 7,522 Total assets $ 1,976,807 $ 1,676,673 $ 3,449 $ (1,443,771 ) $ 2,213,158 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $ — $ 104,174 $ — $ — $ 104,174 Other liabilities 11,315 122,561 377 — 134,253 Intercompany 2,574 739,266 — (741,840 ) — Total debt (net of premium and debt issuance costs) 1,320,065 11,813 — — 1,331,878 Total liabilities 1,333,954 977,814 377 (741,840 ) 1,570,305 Stockholders’ equity 642,853 698,859 3,072 (701,931 ) 642,853 Total liabilities and stockholders’ equity $ 1,976,807 $ 1,676,673 $ 3,449 $ (1,443,771 ) $ 2,213,158 Beazer Homes USA, Inc. Unaudited Consolidating Statements of Income (Loss) and Unaudited Comprehensive Income (Loss) (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended December 31, 2016 Total revenue $ — $ 339,241 $ 36 $ (36 ) $ 339,241 Home construction and land sales expenses 15,644 269,970 — (36 ) 285,578 Gross profit (loss) (15,644 ) 69,271 36 — 53,663 Commissions — 13,323 — — 13,323 General and administrative expenses — 36,365 23 — 36,388 Depreciation and amortization — 2,677 — — 2,677 Operating income (loss) (15,644 ) 16,906 13 — 1,275 Equity in income of unconsolidated entities — 22 — — 22 Other (expense) income, net (5,252 ) 57 (1 ) — (5,196 ) Income (loss) before income taxes (20,896 ) 16,985 12 — (3,899 ) Expense (benefit) from income taxes (7,569 ) 5,025 4 — (2,540 ) Equity in income of subsidiaries 11,968 — — (11,968 ) — Income (loss) from continuing operations (1,359 ) 11,960 8 (11,968 ) (1,359 ) Loss from discontinued operations (70 ) — — — (70 ) Equity in loss of subsidiaries from discontinued operations — (67 ) (3 ) 70 — Net income (loss) and comprehensive income (loss) $ (1,429 ) $ 11,893 $ 5 $ (11,898 ) $ (1,429 ) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended December 31, 2015 Total revenue $ — $ 344,449 $ 73 $ (73 ) $ 344,449 Home construction and land sales expenses 13,367 272,217 — (73 ) 285,511 Inventory impairments and abandonments — 1,356 — — 1,356 Gross profit (loss) (13,367 ) 70,876 73 — 57,582 Commissions — 13,774 — — 13,774 General and administrative expenses — 31,642 27 31,669 Depreciation and amortization — 2,991 — — 2,991 Operating income (loss) (13,367 ) 22,469 46 — 9,148 Equity in income of unconsolidated entities — 60 — — 60 Loss on extinguishment of debt (828 ) — — — (828 ) Other (expense) income, net (7,432 ) 868 (1 ) — (6,565 ) Income (loss) before income taxes (21,627 ) 23,397 45 — 1,815 Expense (benefit) from income taxes (10,143 ) 10,742 17 — 616 Equity in income of subsidiaries 12,683 — — (12,683 ) — Income from continuing operations 1,199 12,655 28 (12,683 ) 1,199 Loss from discontinued operations — (197 ) (3 ) — (200 ) Equity in loss of subsidiaries from discontinued operations (200 ) — — 200 — Net income and comprehensive income $ 999 $ 12,458 $ 25 $ (12,483 ) $ 999 Beazer Homes USA, Inc. Unaudited Condensed Consolidating Statements of Cash Flow Information (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended December 31, 2016 Net cash used in operating activities $ (2,902 ) $ (59,928 ) $ (4 ) $ — $ (62,834 ) Cash flows from investing activities: Capital expenditures — (2,874 ) — — (2,874 ) Proceeds from sale of fixed assets — 46 — — 46 Investments in unconsolidated entities — (1,397 ) — — (1,397 ) Return of capital from unconsolidated entities — 1,621 — — 1,621 Increases in restricted cash (1,817 ) (1,829 ) — — (3,646 ) Decreases in restricted cash — 2,088 — — 2,088 Advances to/from subsidiaries (50,314 ) — — 50,314 — Net cash used in investing activities (52,131 ) (2,345 ) — 50,314 (4,162 ) Cash flows from financing activities: Repayment of debt — (2,525 ) — — (2,525 ) Debt issuance costs (340 ) — — — (340 ) Advances to/from subsidiaries — 52,224 (2 ) (52,222 ) — Other financing activities (387 ) — — — (387 ) Net cash (used in) provided by financing activities (727 ) 49,699 (2 ) (52,222 ) (3,252 ) Decrease in cash and cash equivalents (55,760 ) (12,574 ) (6 ) (1,908 ) (70,248 ) Cash and cash equivalents at beginning of period 215,646 16,866 859 (4,500 ) 228,871 Cash and cash equivalents at end of period $ 159,886 $ 4,292 $ 853 $ (6,408 ) $ 158,623 Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended December 31, 2015 Net cash used in operating activities $ (22,794 ) $ (55,038 ) $ (17 ) $ — $ (77,849 ) Cash flows from investing activities: Capital expenditures — (2,663 ) — — (2,663 ) Proceeds from sale of fixed assets — 2,437 — — 2,437 Investments in unconsolidated entities — (1,779 ) — — (1,779 ) Return of capital from unconsolidated entities — 1,142 — — 1,142 Increases in restricted cash — (1,119 ) — — (1,119 ) Decreases in restricted cash — 669 — — 669 Advances to/from subsidiaries (33,119 ) — — 33,119 — Net cash used in investing activities (33,119 ) (1,313 ) — 33,119 (1,313 ) Cash flows from financing activities: Repayment of debt (22,875 ) (4,051 ) — — (26,926 ) Debt issuance costs (413 ) — — — (413 ) Advances to/from subsidiaries — 38,312 (1 ) (38,311 ) — Other financing activities (201 ) — — — (201 ) Net cash (used in) provided by financing activities (23,489 ) 34,261 (1 ) (38,311 ) (27,540 ) Decrease in cash and cash equivalents (79,402 ) (22,090 ) (18 ) (5,192 ) (106,702 ) Cash and cash equivalents at beginning of period 232,226 21,543 1,006 (3,192 ) 251,583 Cash and cash equivalents at end of period $ 152,824 $ (547 ) $ 988 $ (8,384 ) $ 144,881

Discontinued Operations

Discontinued Operations	3 Months Ended
	Dec. 31, 2016
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 stockholder 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. During our fiscal 2015, we made the decision that we would not continue to reinvest in new homebuilding assets in our New Jersey division; therefore, it is no longer considered an active operation. However, the results of our New Jersey division are not included in the discontinued operations information shown below. We have classified the results of operations of our discontinued operations separately in the accompanying unaudited condensed consolidated statements of income for all periods presented. There were no material assets or liabilities related to these discontinued operations as of December 31, 2016 or September 30, 2016 . Discontinued operations were not segregated in the unaudited condensed consolidated statements of cash flows. Therefore, amounts for certain captions in the unaudited condensed consolidated statements of cash flows will not agree with the respective data in the unaudited condensed consolidated statements of income. The results of our discontinued operations in the unaudited condensed consolidated statements of income for the periods presented were as follows: Three Months Ended December 31, (In thousands) 2016 2015 Total revenue $ — $ — Home construction and land sales expenses 78 308 Gross loss (78 ) (308 ) General and administrative expenses 31 2 Loss from discontinued operations before income taxes (109 ) (310 ) Benefit from income taxes (39 ) (110 ) Loss from discontinued operations, net of tax $ (70 ) $ (200 )

Basis of Presentation and Sum22

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation. These unaudited condensed consolidated financial statements present the consolidated balance sheet, income (loss), comprehensive income (loss) and cash flows of the Company, including its consolidated 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 condensed 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 2 and 5 to the audited consolidated financial statements within our 2016 Annual Report. Our homebuilding inventories that are accounted for as held for development (development projects in progress) 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 that 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	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 entities 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. In August 2015, the FASB issued ASU 2015-14 to defer the effective date of ASU 2014-09 for one year, which makes the guidance effective for the Company's first fiscal year beginning after December 15, 2017. Additionally, the FASB 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 continue to evaluate the impact of ASU 2014-09 on our consolidated financial statements and have been involved in industry-specific discussions with the FASB on the treatment of certain items. However, due to the nature of our operations and simplicity of our revenue recognition model, we do not anticipate the adoption of ASU 2014-09 to result in a significant impact to our financial statements. Nonetheless, we are still evaluating the impact of specific parts of this ASU, and expect our revenue-related disclosures to change. Leases. In February 2016, the FASB issued ASU 2016-02, Leases (ASU 2016-02). ASU 2016-02 requires lessees to record most leases on their balance sheets. The timing and classification of lease-related expenses for lessees will depend on whether a lease is determined to be a finance lease or an operating lease using updated criteria within ASU 2016-02. Operating leases will result in straight-line expense (similar to current operating leases), while finance leases will result in a front-loaded expense pattern (similar to current capital leases). Regardless of lease type, the lessee will recognize a right-of-use asset, representing the right to use the identified asset during the lease term, and a related lease liability, representing the present value of the lease payments over the lease term. Lessor accounting will be largely similar to that under the current lease accounting rules. The guidance within ASU 2016-02 will be effective for the Company's first fiscal year beginning after December 15, 2018, with early adoption permitted. ASU 2016-02 must be adopted using a modified retrospective approach, which requires application of the standard at the beginning of the earliest comparative period presented, with certain optional practical expedients. ASU 2016-02 also requires significantly enhanced disclosures around an entity's leases and the related accounting. We continue to evaluate the impact of ASU 2016-02 on our consolidated financial statements. However, a large majority of our leases are for office space, which we have determined will be treated as operating leases under ASU 2016-02. As such, we anticipate recording a right-of-use asset and related lease liability for these leases, but we do not expect our expense recognition pattern to change. Therefore, we do not anticipate any significant change to our statements of income or cash flows as a result of adopting ASU 2016-02. Statement of Cash Flows. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flow - Restricted Cash (ASU 2016-18). ASU 2016-18 requires that an entity's statement of cash flows explain the change during the period in that entity's total cash and cash equivalents, including amounts generally described as restricted cash or restricted cash equivalents. Therefore, changes in restricted cash and restricted cash equivalents will no longer be shown in the statement of cash flows. Additionally, an entity is to reconcile its cash and cash equivalents as per its balance sheet to the cash and cash equivalent balances presented in its statement of cash flows. The guidance within ASU 2016-18 will be effective for the Company's first fiscal year beginning after December 15, 2017, with early adoption permitted. While we continue to evaluate the impact of ASU 2016-18 on our financial statements, we expect the impact to be as follows: (1) changes in our restricted cash balances will no longer be shown in our statements of cash flows (within investing activities), as these balances will be included in the beginning and ending cash balances in our statements of cash flows and (2) we will include in our disclosures a reconciliation between our cash balances presented on our balance sheets with the amounts presented in our statements of cash flows.

Supplemental Cash Flow Inform23

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Dec. 31, 2016
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: Three Months Ended December 31, (In thousands) 2016 2015 Supplemental disclosure of non-cash activity: Non-cash land acquisitions (a) $ 5,197 $ 3,769 Land acquisitions for debt 5,555 — Supplemental disclosure of cash activity: Interest payments 11,824 39,740 Income tax payments 178 146 Tax refunds received 4 150 (a) For the three months ended December 31, 2016 and December 31, 2015 , non-cash land acquisitions were comprised of lot takedowns from one of our unconsolidated land development joint ventures.

Investments in Unconsolidated24

Investments in Unconsolidated Entities (Tables)	3 Months Ended
	Dec. 31, 2016
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 December 31, 2016 and September 30, 2016 : (In thousands) December 31, 2016 September 30, 2016 Beazer’s investment in unconsolidated entities $ 5,065 $ 10,470 Total equity of unconsolidated entities 14,585 31,615 Total outstanding borrowings of unconsolidated entities 17,725 14,702

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Schedule of Inventory	The components of our owned inventory are as follows as of December 31, 2016 and September 30, 2016 : (In thousands) December 31, 2016 September 30, 2016 Homes under construction $ 422,493 $ 377,191 Development projects in progress 778,078 742,417 Land held for future development 172,824 213,006 Land held for sale 28,021 29,696 Capitalized interest 144,299 138,108 Model homes 72,829 68,861 Total owned inventory $ 1,618,544 $ 1,569,279
Schedule of Total Owned Inventory, by Segment	Total owned inventory, by reportable segment, is presented by category in the table below as of December 31, 2016 and September 30, 2016 : (In thousands) Projects in Progress (a) Land Held for Future Development Land Held for Sale Total Owned Inventory December 31, 2016 West Segment $ 619,044 $ 147,861 $ 7,699 $ 774,604 East Segment 305,593 14,004 18,010 337,607 Southeast Segment 297,336 10,959 1,212 309,507 Corporate and unallocated (b) 195,726 — 1,100 196,826 Total $ 1,417,699 $ 172,824 $ 28,021 $ 1,618,544 September 30, 2016 West Segment $ 586,420 $ 172,015 $ 6,577 $ 765,012 East Segment 276,785 30,036 20,930 327,751 Southeast Segment 276,385 10,955 1,090 288,430 Corporate and unallocated (b) 186,987 — 1,099 188,086 Total $ 1,326,577 $ 213,006 $ 29,696 $ 1,569,279 (a) Projects in progress include homes under construction, development projects in progress, capitalized interest and model home categories from the preceding table. (b) Projects in progress amount includes capitalized interest and indirect costs that are maintained within Corporate and unallocated. Land held for sale amount includes parcels held by our discontinued operations.
Schedule of Inventory Impairments and Lot Option Abandonment Charges, by Reportable Homebuilding Segment	The following table presents, by reportable segment, our total impairment and abandonment charges for the three months ended December 31, 2015 : Three Months Ended December 31, (In thousands) 2015 Land Held for Sale: East $ 197 Southeast 371 Total impairment charges on land held for sale $ 568 Abandonments: Southeast $ 788 Total abandonments charges $ 788 Total impairment and abandonment charges $ 1,356
Summary of Interests in Lot Option Agreements	The following table provides a summary of our interests in lot option agreements as of December 31, 2016 and September 30, 2016 : (In thousands) Deposits & Non-refundable Pre-acquisition Costs Incurred Remaining Obligation As of December 31, 2016 Unconsolidated lot option agreements $ 78,001 $ 412,881 As of September 30, 2016 Unconsolidated lot option agreements $ 80,433 $ 446,414

Interest (Tables)

Interest (Tables)	3 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Real Estate Inventory, Capitalized Interest Costs	The following table presents certain information regarding interest for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Capitalized interest in inventory, beginning of period $ 138,108 $ 123,457 Interest incurred 27,087 30,088 Interest expense not qualified for capitalization and included as other expense (a) (5,252 ) (7,432 ) Capitalized interest amortized to home construction and land sales expenses (b) (15,644 ) (13,651 ) Capitalized interest in inventory, end of period $ 144,299 $ 132,462 (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 home 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.

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	As of December 31, 2016 and September 30, 2016 , we had the following debt, net of premiums/discounts and unamortized debt issuance costs: (In thousands) Maturity Date December 31, 2016 September 30, 2016 5 3/4% Senior Notes June 2019 $ 321,393 $ 321,393 7 1/2% Senior Notes September 2021 198,000 198,000 8 3/4% Senior Notes March 2022 500,000 500,000 7 1/4% Senior Notes February 2023 199,834 199,834 Unamortized debt premium, net 2,260 2,362 Unamortized debt issuance costs (13,314 ) (14,063 ) Total Senior Notes, net 1,208,173 1,207,526 Term Loan (net of unamortized discount of $725 and $880, respectively, and unamortized debt issuance costs of $1,195 and $1,451, respectively) March 2018 53,080 52,669 Junior Subordinated Notes (net of unamortized accretion of $40,387 and $40,903, respectively) July 2036 60,387 59,870 Other Secured Notes payable Various Dates 14,843 11,813 Total debt, net $ 1,336,483 $ 1,331,878
Debt Instrument Redemption	The table below summarizes the redemption terms for our Senior Notes: Senior Note Description Issuance Date Maturity Date Redemption Terms 5 3/4% Senior Notes April 2014 June 2019 Callable at any time before 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; on or after March 15, 2019, callable at 100% of the principal amount plus, in each case, accrued and unpaid interest 7 1/2% Senior Notes September 2013 September 2021 Callable at a redemption price equal to 105.625% of the principal amount; on or after September 15, 2017, callable at a redemption price equal to 103.75% of the principal amount; on or after September 15, 2018, callable at a redemption price equal to 101.875% of the principal amount; on or after September 15, 2019, callable at 100% of the principal amount plus, in each case, accrued and unpaid interest 8 3/4% Senior Notes September 2016 March 2022 Callable 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; on or after March 15, 2019, callable at a redemption price equal to 104.375% of the principal amount; on or after March 15, 2020, callable at a redemption price equal to 102.188% of the principal amount; on or after March 15, 2021, callable at a redemption price equal to 100% of the principal amount plus, in each case, accrued and unpaid interest 7 1/4% Senior Notes February 2013 February 2023 Callable at any time prior to February 1, 2018, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium; on or after February 1, 2018, callable at a redemption price equal to 103.625% of the principal amount; on or after February 1, 2019, callable at a redemption price equal to 102.41% of the principal amount; on or after February 1, 2020, callable at a redemption price equal to 101.208% of the principal amount; on or after February 1, 2021, callable at 100% of the principal amount plus, in each case, accrued and unpaid interest

Contingencies (Tables)

Contingencies (Tables)	3 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Warranty reserves	Changes in our warranty reserves are as follows for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Balance at beginning of period $ 39,131 $ 27,681 Accruals for warranties issued (a) 2,658 2,615 Changes in liability related to warranties existing in prior periods (b) 5,392 10,600 Payments made (b) (14,872 ) (11,983 ) Balance at end of period $ 32,309 $ 28,913 (a) Accruals for warranties issued are a function of the number of home closings in the period, the selling prices of the homes closed and the rates of accrual per home estimated as a percentage of the selling price of the home. (b) Changes in liability related to warranties existing and payments made in all periods presented are elevated due to charges and subsequent payments related to water intrusion issues in certain of our communities located in Florida (refer to separate discussion below).

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of fair value assets measured on a recurring and non-recurring basis	The following table presents the period-end balances of our assets measured at fair value on a recurring basis, and the impairment-date fair value of certain assets measured at fair value on a non-recurring basis, for each hierarchy level. These balances represent only those assets whose carrying values were adjusted to fair value during the periods presented: (In thousands) Level 1 Level 2 Level 3 Total Three Months Ended December 31, 2016 Deferred compensation plan assets (a) $ — $ 1,006 $ — $ 1,006 Three Months Ended December 31, 2015 Deferred compensation plan assets (a) — 747 — 747 Land held for sale (b) — — 16,213 (c) 16,213 As of September 30, 2016 Deferred compensation plan assets (a) — 765 — 765 (a) Measured at fair value on a recurring basis. (b) Measured at fair value on a non-recurring basis. (c) Amount represents the impairment-date fair value of certain land held for sale assets that were impaired during the three months ended December 31, 2015 .
Schedule of carrying values and estimated fair values of other financial assets and liabilities	The following table presents the carrying value and estimated fair value of certain of our other financial liabilities as of December 31, 2016 and September 30, 2016 : As of December 31, 2016 As of September 30, 2016 (In thousands) Carrying (a) Fair Value Carrying (a) Fair Value Senior Notes (b) $ 1,208,173 $ 1,282,912 $ 1,207,526 $ 1,253,614 Term Loan 53,080 53,080 52,669 52,669 Junior Subordinated Notes 60,387 60,387 59,870 59,870 $ 1,321,640 $ 1,396,379 $ 1,320,065 $ 1,366,153 (a) Carrying amounts are net of unamortized debt premium/discounts, debt issuance costs or accretion. (b) The estimated fair value for our publicly-held Senior Notes has been determined using quoted market rates (Level 2).

Stock-based compensation (Table

Stock-based compensation (Tables)	3 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs	A summary of the expense related to stock-based compensation by award type is as follows for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Stock options expense $ 107 $ 148 Restricted stock awards expense 2,069 1,608 Before tax stock-based compensation expense 2,176 1,756 Tax benefit (774 ) (597 ) After tax stock-based compensation expense $ 1,402 $ 1,159
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	We used the following assumptions for stock options granted, which derived the weighted average fair value shown, for the period presented: Three Months Ended December 31, 2016 Expected life of options 5.4 years Expected volatility 50.26 % Expected dividends — Weighted average risk-free interest rate 1.83 % Weighted average fair value $ 5.87
Schedule of Stock Options and SSARs Outstanding, As Well As Related Activity	Activity related to stock options for the period presented is as follows: Three Months Ended December 31, 2016 Shares Weighted Average Outstanding at beginning of period 672,669 $ 16.49 Granted 27,110 12.52 Forfeited (1,334 ) 8.37 Outstanding at end of period 698,445 $ 16.35 Exercisable at end of period 567,599 $ 17.79 Vested or expected to vest in the future 694,487 $ 16.40
Schedule of Nonvested Stock Awards Activity	Activity relating to restricted stock awards for the period presented is as follows: Three Months Ended December 31, 2016 Performance-Based Restricted Stock Time-Based Restricted Stock Total Restricted Stock Shares Weighted Average Shares Weighted Average Shares Weighted Average Beginning of period 448,693 $ 16.71 807,124 $ 17.52 1,255,817 $ 17.23 Granted 263,696 13.60 269,402 12.51 533,098 13.05 Vested — — (183,730 ) 15.49 (183,730 ) 15.49 Forfeited (28,690 ) 11.65 — — (28,690 ) 11.65 End of period 683,699 $ 15.72 892,796 $ 16.43 1,576,495 $ 16.12

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The weighted average number of common shares outstanding used to calculate basic income (loss) per share is reconciled to shares used to calculate diluted income (loss) per share as follows for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Basic shares 31,893 31,757 Shares issuable upon vesting/exercise of stock awards/options — 87 Diluted shares 31,893 31,844

Other Liabilities Other Liabili

Other Liabilities Other Liabilities (Tables)	3 Months Ended
	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities	Other liabilities include the following as of December 31, 2016 and September 30, 2016 : (In thousands) December 31, 2016 September 30, 2016 Accrued warranty expense $ 32,309 $ 39,131 Accrued interest 25,089 11,530 Accrued bonuses and deferred comp 14,464 30,466 Customer deposits 13,273 12,140 Litigation accrual 9,187 10,178 Income tax liabilities 1,772 1,718 Other 25,617 29,090 Total other liabilities $ 121,711 $ 134,253

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of segment reporting information	The following tables contain our revenue, operating income and depreciation and amortization by segment for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Revenue West $ 171,749 $ 157,196 East 84,159 100,557 Southeast 83,333 86,696 Total revenue $ 339,241 $ 344,449 Three Months Ended December 31, (In thousands) 2016 2015 Operating income West $ 21,015 $ 16,786 East (a) 1,557 4,147 Southeast (b) 5,015 10,657 Segment total 27,587 31,590 Corporate and unallocated (c) (26,312 ) (22,442 ) Total operating income $ 1,275 $ 9,148 Three Months Ended December 31, (In thousands) 2016 2015 Depreciation and amortization West $ 1,248 $ 1,218 East 529 797 Southeast 466 449 Segment total 2,243 2,464 Corporate and unallocated (b) 434 527 Total depreciation and amortization $ 2,677 $ 2,991 (a) Operating income for our East segment for the three months ended December 31, 2016 was impacted by a charge to G&A of $2.7 million related to the write-off of a deposit on a legacy investment in a development site that we deemed noncollectible. (b) Operating income for our Southeast segment for the three months ended December 31, 2015 was impacted by unexpected warranty costs related to the Florida stucco issues, net of expected insurance recoveries. This impact was a credit of $3.6 million . (c) Corporate and unallocated operating loss includes amortization of capitalized interest; movement in capitalized indirects; expenses related to numerous shared services functions that benefit all segments but are not allocated to the operating segments reported above, including information technology, treasury, corporate finance, legal, branding and national marketing; and certain other amounts that are not allocated to our operating segments. Corporate and unallocated depreciation and amortization represents depreciation and amortization related to assets held by our corporate functions that benefit all segments. The following table contains our capital expenditures by segment for the periods presented: Three Months Ended December 31, (In thousands) 2016 2015 Capital Expenditures West $ 1,184 $ 1,133 East 771 467 Southeast 618 969 Corporate and unallocated 301 94 Total capital expenditures $ 2,874 $ 2,663 The following table contains our asset balance by segment as of December 31, 2016 and September 30, 2016 : (In thousands) December 31, 2016 September 30, 2016 Assets West $ 796,962 $ 778,521 East 346,524 344,898 Southeast 344,074 333,501 Corporate and unallocated (a) 700,583 756,238 Total assets $ 2,188,143 $ 2,213,158 (a) Primarily consists of cash and cash equivalents, restricted cash, deferred taxes, capitalized interest and indirects and other items that are not allocated to the segments.

Supplemental Guarantor Inform34

Supplemental Guarantor Information (Tables)	3 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Unaudited Condensed Consolidating Balance Sheet Information	Beazer Homes USA, Inc. Unaudited Condensed Consolidating Balance Sheet Information December 31, 2016 (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated ASSETS Cash and cash equivalents $ 159,886 $ 4,292 $ 853 $ (6,408 ) $ 158,623 Restricted cash 14,683 1,280 — — 15,963 Accounts receivable (net of allowance of $350) — 51,797 — — 51,797 Income tax receivable 288 — — — 288 Owned inventory — 1,618,544 — — 1,618,544 Investments in unconsolidated entities 773 4,292 — — 5,065 Deferred tax assets, net 312,666 — — — 312,666 Property and equipment, net — 19,335 — — 19,335 Investments in subsidiaries 713,629 — — (713,629 ) — Intercompany 789,502 — 2,376 (791,878 ) — Other assets 822 5,040 — — 5,862 Total assets $ 1,992,249 $ 1,704,580 $ 3,229 $ (1,511,915 ) $ 2,188,143 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $ — $ 86,730 $ — $ — $ 86,730 Other liabilities 25,014 96,345 352 — 121,711 Intercompany 2,376 795,910 — (798,286 ) — Total debt (net of premium and debt issuance costs) 1,321,640 14,843 — — 1,336,483 Total liabilities 1,349,030 993,828 352 (798,286 ) 1,544,924 Stockholders’ equity 643,219 710,752 2,877 (713,629 ) 643,219 Total liabilities and stockholders’ equity $ 1,992,249 $ 1,704,580 $ 3,229 $ (1,511,915 ) $ 2,188,143 Beazer Homes USA, Inc. Unaudited Condensed Consolidating Balance Sheet Information September 30, 2016 (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated ASSETS Cash and cash equivalents $ 215,646 $ 16,866 $ 859 $ (4,500 ) $ 228,871 Restricted cash 12,867 1,538 — — 14,405 Accounts receivable (net of allowance of $354) — 53,225 1 — 53,226 Income tax receivable 292 — — — 292 Owned inventory — 1,569,279 — — 1,569,279 Investments in unconsolidated entities 773 9,697 — — 10,470 Deferred tax assets, net 309,955 — — — 309,955 Property and equipment, net — 19,138 — — 19,138 Investments in subsidiaries 701,931 — — (701,931 ) — Intercompany 734,766 — 2,574 (737,340 ) — Other assets 577 6,930 15 — 7,522 Total assets $ 1,976,807 $ 1,676,673 $ 3,449 $ (1,443,771 ) $ 2,213,158 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $ — $ 104,174 $ — $ — $ 104,174 Other liabilities 11,315 122,561 377 — 134,253 Intercompany 2,574 739,266 — (741,840 ) — Total debt (net of premium and debt issuance costs) 1,320,065 11,813 — — 1,331,878 Total liabilities 1,333,954 977,814 377 (741,840 ) 1,570,305 Stockholders’ equity 642,853 698,859 3,072 (701,931 ) 642,853 Total liabilities and stockholders’ equity $ 1,976,807 $ 1,676,673 $ 3,449 $ (1,443,771 ) $ 2,213,158
Unaudited Consolidating Statements of Income (Loss) and Unaudited Comprehensive Income (Loss)	Beazer Homes USA, Inc. Unaudited Consolidating Statements of Income (Loss) and Unaudited Comprehensive Income (Loss) (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended December 31, 2016 Total revenue $ — $ 339,241 $ 36 $ (36 ) $ 339,241 Home construction and land sales expenses 15,644 269,970 — (36 ) 285,578 Gross profit (loss) (15,644 ) 69,271 36 — 53,663 Commissions — 13,323 — — 13,323 General and administrative expenses — 36,365 23 — 36,388 Depreciation and amortization — 2,677 — — 2,677 Operating income (loss) (15,644 ) 16,906 13 — 1,275 Equity in income of unconsolidated entities — 22 — — 22 Other (expense) income, net (5,252 ) 57 (1 ) — (5,196 ) Income (loss) before income taxes (20,896 ) 16,985 12 — (3,899 ) Expense (benefit) from income taxes (7,569 ) 5,025 4 — (2,540 ) Equity in income of subsidiaries 11,968 — — (11,968 ) — Income (loss) from continuing operations (1,359 ) 11,960 8 (11,968 ) (1,359 ) Loss from discontinued operations (70 ) — — — (70 ) Equity in loss of subsidiaries from discontinued operations — (67 ) (3 ) 70 — Net income (loss) and comprehensive income (loss) $ (1,429 ) $ 11,893 $ 5 $ (11,898 ) $ (1,429 ) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended December 31, 2015 Total revenue $ — $ 344,449 $ 73 $ (73 ) $ 344,449 Home construction and land sales expenses 13,367 272,217 — (73 ) 285,511 Inventory impairments and abandonments — 1,356 — — 1,356 Gross profit (loss) (13,367 ) 70,876 73 — 57,582 Commissions — 13,774 — — 13,774 General and administrative expenses — 31,642 27 31,669 Depreciation and amortization — 2,991 — — 2,991 Operating income (loss) (13,367 ) 22,469 46 — 9,148 Equity in income of unconsolidated entities — 60 — — 60 Loss on extinguishment of debt (828 ) — — — (828 ) Other (expense) income, net (7,432 ) 868 (1 ) — (6,565 ) Income (loss) before income taxes (21,627 ) 23,397 45 — 1,815 Expense (benefit) from income taxes (10,143 ) 10,742 17 — 616 Equity in income of subsidiaries 12,683 — — (12,683 ) — Income from continuing operations 1,199 12,655 28 (12,683 ) 1,199 Loss from discontinued operations — (197 ) (3 ) — (200 ) Equity in loss of subsidiaries from discontinued operations (200 ) — — 200 — Net income and comprehensive income $ 999 $ 12,458 $ 25 $ (12,483 ) $ 999
Unaudited Condensed Consolidating Statements of Cash Flow Information	Beazer Homes USA, Inc. Unaudited Condensed Consolidating Statements of Cash Flow Information (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended December 31, 2016 Net cash used in operating activities $ (2,902 ) $ (59,928 ) $ (4 ) $ — $ (62,834 ) Cash flows from investing activities: Capital expenditures — (2,874 ) — — (2,874 ) Proceeds from sale of fixed assets — 46 — — 46 Investments in unconsolidated entities — (1,397 ) — — (1,397 ) Return of capital from unconsolidated entities — 1,621 — — 1,621 Increases in restricted cash (1,817 ) (1,829 ) — — (3,646 ) Decreases in restricted cash — 2,088 — — 2,088 Advances to/from subsidiaries (50,314 ) — — 50,314 — Net cash used in investing activities (52,131 ) (2,345 ) — 50,314 (4,162 ) Cash flows from financing activities: Repayment of debt — (2,525 ) — — (2,525 ) Debt issuance costs (340 ) — — — (340 ) Advances to/from subsidiaries — 52,224 (2 ) (52,222 ) — Other financing activities (387 ) — — — (387 ) Net cash (used in) provided by financing activities (727 ) 49,699 (2 ) (52,222 ) (3,252 ) Decrease in cash and cash equivalents (55,760 ) (12,574 ) (6 ) (1,908 ) (70,248 ) Cash and cash equivalents at beginning of period 215,646 16,866 859 (4,500 ) 228,871 Cash and cash equivalents at end of period $ 159,886 $ 4,292 $ 853 $ (6,408 ) $ 158,623 Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended December 31, 2015 Net cash used in operating activities $ (22,794 ) $ (55,038 ) $ (17 ) $ — $ (77,849 ) Cash flows from investing activities: Capital expenditures — (2,663 ) — — (2,663 ) Proceeds from sale of fixed assets — 2,437 — — 2,437 Investments in unconsolidated entities — (1,779 ) — — (1,779 ) Return of capital from unconsolidated entities — 1,142 — — 1,142 Increases in restricted cash — (1,119 ) — — (1,119 ) Decreases in restricted cash — 669 — — 669 Advances to/from subsidiaries (33,119 ) — — 33,119 — Net cash used in investing activities (33,119 ) (1,313 ) — 33,119 (1,313 ) Cash flows from financing activities: Repayment of debt (22,875 ) (4,051 ) — — (26,926 ) Debt issuance costs (413 ) — — — (413 ) Advances to/from subsidiaries — 38,312 (1 ) (38,311 ) — Other financing activities (201 ) — — — (201 ) Net cash (used in) provided by financing activities (23,489 ) 34,261 (1 ) (38,311 ) (27,540 ) Decrease in cash and cash equivalents (79,402 ) (22,090 ) (18 ) (5,192 ) (106,702 ) Cash and cash equivalents at beginning of period 232,226 21,543 1,006 (3,192 ) 251,583 Cash and cash equivalents at end of period $ 152,824 $ (547 ) $ 988 $ (8,384 ) $ 144,881

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Results of Discontinued Operations	The results of our discontinued operations in the unaudited condensed consolidated statements of income for the periods presented were as follows: Three Months Ended December 31, (In thousands) 2016 2015 Total revenue $ — $ — Home construction and land sales expenses 78 308 Gross loss (78 ) (308 ) General and administrative expenses 31 2 Loss from discontinued operations before income taxes (109 ) (310 ) Benefit from income taxes (39 ) (110 ) Loss from discontinued operations, net of tax $ (70 ) $ (200 )

Description of Business (Detail

Description of Business (Details)	Dec. 31, 2016segmentstate
Description of Business [Abstract]
Number of states in which home building segments operate | state	13
Number of regions in which entity operates | segment	3

Supplemental Cash Flow Inform37

Supplemental Cash Flow Information - Supplemental Disclosure of Non-cash Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Supplemental disclosure of non-cash activity:
Non-cash land acquisitions	$ 5,197	$ 3,769
Land acquisitions for debt	5,555	0
Supplemental disclosure of cash activity:
Interest payments	11,824	39,740
Income tax payments	178	146
Tax refunds received	$ 4	$ 150

Investments in Unconsolidated38

Investments in Unconsolidated Entities - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Schedule of Equity Method Investments [Line Items]
Impairment of unconsolidated entity investments	$ 0	$ 0
Equity in income of unconsolidated entities	22,000	$ 60,000
Financial Guarantee
Schedule of Equity Method Investments [Line Items]
Outstanding guarantees	$ 0		$ 0

Investments in Unconsolidated39

Investments in Unconsolidated Entities - Outstanding Borrowings of Unconsolidated Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 5,065	$ 10,470
Unconsolidated Entities
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	5,065	10,470
Total equity of unconsolidated entities	14,585	31,615
Total outstanding borrowings of unconsolidated entities	$ 17,725	$ 14,702

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Real Estate [Abstract]
Homes under construction	$ 422,493	$ 377,191
Development projects in progress	778,078	742,417
Land held for future development	172,824	213,006
Land held for sale	28,021	29,696
Capitalized interest	144,299	138,108	$ 132,462	$ 123,457
Model homes	72,829	68,861
Total owned inventory	$ 1,618,544	$ 1,569,279

Inventory - Narrative (Details)

Inventory - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2016USD ($)homeCommunity	Dec. 31, 2015Community	Sep. 30, 2016USD ($)home
Real Estate [Abstract]
Number of substantially completed homes unsold | home	162		178
Total value of substantially completed homes | $	$ 47.1		$ 56.1
Threshold number of homes below a minimum threshold of profitability | home	10
Real Estate Properties [Line Items]
Number of communities on watch list	8	0
West Segment
Real Estate Properties [Line Items]
Number of communities on watch list	7
East Segment
Real Estate Properties [Line Items]
Number of communities on watch list	1

Inventory - Total Owned Invento

Inventory - Total Owned Inventory by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Segment Reporting Information [Line Items]
Projects in Progress	$ 1,417,699	$ 1,326,577
Land held for future development	172,824	213,006
Land held for sale	28,021	29,696
Total owned inventory	1,618,544	1,569,279
Corporate and unallocated
Segment Reporting Information [Line Items]
Projects in Progress	195,726	186,987
Land held for future development	0	0
Land held for sale	1,100	1,099
Total owned inventory	196,826	188,086
West Segment
Segment Reporting Information [Line Items]
Projects in Progress	619,044	586,420
Land held for future development	147,861	172,015
Land held for sale	7,699	6,577
Total owned inventory	774,604	765,012
East Segment
Segment Reporting Information [Line Items]
Projects in Progress	305,593	276,785
Land held for future development	14,004	30,036
Land held for sale	18,010	20,930
Total owned inventory	337,607	327,751
Southeast Segment
Segment Reporting Information [Line Items]
Projects in Progress	297,336	276,385
Land held for future development	10,959	10,955
Land held for sale	1,212	1,090
Total owned inventory	$ 309,507	$ 288,430

Inventory - Impairments and Lot

Inventory - Impairments and Lot Option Abandonment Charges, by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Real Estate, Write-down or Reserve [Line Items]
Impairment of inventory, land held for sale		$ 568
Inventory impairments and abandonments	$ 0	1,356
Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Abandonments		788
East Segment
Real Estate, Write-down or Reserve [Line Items]
Impairment of inventory, land held for sale		197
Southeast Segment
Real Estate, Write-down or Reserve [Line Items]
Impairment of inventory, land held for sale		371
Abandonments		$ 788

Inventory - Summary of Interest

Inventory - Summary of Interests in Lot Option Agreements (Details) - Unconsolidated lot option agreements - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Real Estate Properties [Line Items]
Deposits & Non-refundable Pre-acquisition Costs Incurred	$ 78,001	$ 80,433
Remaining Obligation	$ 412,881	$ 446,414

Interest - Schedule of Capitali

Interest - Schedule of Capitalized Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in inventory, beginning of period	$ 138,108	$ 123,457
Interest incurred	27,087	30,088
Interest expense not qualified for capitalization and included as other expense	(5,252)	(7,432)
Capitalized interest amortized to home construction and land sales expenses	(15,644)	(13,651)
Capitalized interest in inventory, end of period	$ 144,299	$ 132,462

Borrowings - Schedule of Long-t

Borrowings - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Debt Instrument [Line Items]
Unamortized debt premium, net	$ (1,535)	$ (1,482)
Debt issuance costs	14,509	15,514
Total debt, net	1,336,483	1,331,878
Senior Notes
Debt Instrument [Line Items]
Unamortized debt premium, net	(2,260)	(2,362)
Debt issuance costs	13,314	14,063
Total debt, net	$ 1,208,173	$ 1,207,526
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%
Total debt, net	$ 321,393	$ 321,393
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%
Total debt, net	$ 198,000	$ 198,000
Senior Notes | 8 3/4% Senior Notes Maturing March 2022
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	8.75%	8.75%
Total debt, net	$ 500,000	$ 500,000
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%
Total debt, net	$ 199,834	$ 199,834
Term Loan
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	6.75%
Total debt, net	$ 53,080	52,669
Junior Subordinated Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	7.987%
Total debt, net	$ 60,387	59,870
Other Secured Notes payable
Debt Instrument [Line Items]
Total debt, net	$ 14,843	$ 11,813

Borrowings - Narrative (Details

Borrowings - Narrative (Details)	3 Months Ended		12 Months Ended
	Dec. 31, 2016USD ($)lender	Dec. 31, 2015USD ($)	Sep. 30, 2016USD ($)	Jan. 31, 2010USD ($)
Line of Credit Facility [Abstract]
Amount of available borrowings under the Secured Revolving Credit Facility	$ 142,500,000
Senior Notes [Abstract]
Loss on extinguishment of debt	0	$ 828,000
Secured Debt [Abstract]
Total debt, net	1,336,483,000		$ 1,331,878,000
Senior Notes
Secured Debt [Abstract]
Total debt, net	$ 1,208,173,000		1,207,526,000
Senior Notes | 8 1/8% Senior Notes Maturing June 2016
Senior Notes [Abstract]
Call price and make-whole premiums provided for by 2018 Notes		$ 22,900,000
Term Loan
Senior Notes [Abstract]
Call price and make-whole premiums provided for by 2018 Notes			50,000,000
Other Long-term Debt [Abstract]
Debt instrument term	2 years
Principal payment	$ 17,500,000
Stated interest rate on debt instrument (percent)	6.75%
Minimum inventory required	$ 1,250,000,000
Junior Subordinated Notes [Abstract]
Stated interest rate on debt instrument (percent)	6.75%
Aggregate principal amount of debt	$ 140,000,000
Unamortized accretion	725,000		800,000
Debt Issuance Costs, Net	1,195,000		1,451,000
Secured Debt [Abstract]
Total debt, net	$ 53,080,000		52,669,000
Term Loan | London Interbank Offered Rate (LIBOR)
Other Long-term Debt [Abstract]
Stated interest rate on debt instrument (percent)	55000.00%
Junior Subordinated Notes [Abstract]
Stated interest rate on debt instrument (percent)	55000.00%
Junior Subordinated Notes
Other Long-term Debt [Abstract]
Stated interest rate on debt instrument (percent)	7.987%
Junior Subordinated Notes [Abstract]
Stated interest rate on debt instrument (percent)	7.987%
Effective period of debt instrument interest rate	10 years
Debt Instrument, Face Amount Modification				$ 75,000,000
Unamortized accretion	$ 40,387,000		40,903,000
Secured Debt [Abstract]
Total debt, net	$ 60,387,000		59,870,000
Weighted average fixed interest rate of debt (percent)	4.02%
Other secured notes payable
Secured Debt [Abstract]
Total debt, net	$ 14,843,000		11,813,000
Weighted average fixed interest rate of debt (percent)	3.12%
Revolving Credit Facility
Line of Credit Facility [Abstract]
Credit facility borrowing capacity	$ 180,000,000		145,000,000
Inventory assets pledged as collateral	$ 800,000,000		1,000,000,000
Number of lenders | lender	3
Borrowings outstanding under facility	$ 0		$ 0
Letters of credit secured using cash collateral	$ 37,500,000
Revolving Credit Facility | Maximum
Line of Credit Facility [Abstract]
Aggregate collateral ratio	4		5
Revolving Credit Facility | Minimum
Line of Credit Facility [Abstract]
Aggregate collateral ratio	1		1
Letter of Credit, Cash Secured
Line of Credit Facility [Abstract]
Letters of credit secured using cash collateral	$ 11,500,000		$ 12,100,000

Borrowings - Debt Redemption (D

Borrowings - Debt Redemption (Details) - Senior Notes	3 Months Ended
	Dec. 31, 2016	Sep. 30, 2016
5 3/4% Senior Notes Maturing June 2019
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	5.75%	5.75%
5 3/4% Senior Notes Maturing June 2019 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%
7 1/2% Senior Notes Maturing September 2021
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	7.50%	7.50%
7 1/2% Senior Notes Maturing September 2021 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	105.625%
7 1/2% Senior Notes Maturing September 2021 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	103.75%
7 1/2% Senior Notes Maturing September 2021 | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	101.875%
7 1/2% Senior Notes Maturing September 2021 | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%
8 3/4% Senior Notes Maturing March 2022
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	8.75%	8.75%
8 3/4% Senior Notes Maturing March 2022 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%
8 3/4% Senior Notes Maturing March 2022 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	104.375%
8 3/4% Senior Notes Maturing March 2022 | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	102.188%
8 3/4% Senior Notes Maturing March 2022 | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%
7 1/4% Senior Notes Maturing February 2023
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	7.25%	7.25%
7 1/4% Senior Notes Maturing February 2023 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%
7 1/4% Senior Notes Maturing February 2023 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	103.625%
7 1/4% Senior Notes Maturing February 2023 | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	102.41%
7 1/4% Senior Notes Maturing February 2023 | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	101.208%

Contingencies - Warranty (Detai

Contingencies - Warranty (Details) $ in Thousands	3 Months Ended		27 Months Ended
	Dec. 31, 2016USD ($)home	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)home
Loss Contingencies [Line Items]
Standard product warranty length, minimum	1 year
Standard product warranty length, maximum	2 years
Limited product warranty length (up to)	10 years
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 39,131	$ 27,681
Accruals for warranties issued	2,658	2,615
Changes in liability related to warranties existing in prior periods	5,392	10,600
Payments made	(14,872)	(11,983)
Balance at end of period	32,309	28,913	$ 32,309
Insurance recoveries	3,900	13,700
Excess insurance recovery		3,600
Specific Warranty Issue | Florida
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	22,600
Balance at end of period	17,200		17,200
Product warranty expense	$ 4,600	$ 9,000	$ 83,200
Homes likely to require more than minor repairs | home	705		705
Movement on number of homes likely to be repaired | home	16
Homes have been repaired | home	510		510
Product warranty accrual, payments	$ 10,000
Estimated remaining warranty costs	$ 4,200		$ 4,200

Contingencies - Litigation and

Contingencies - Litigation and Other Matters (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2016	Sep. 30, 2016
DPA And HUD
Loss Contingencies [Line Items]
Loss contingency accrual provision	$ 1.2
Legal Reserve
Loss Contingencies [Line Items]
Accrued amounts for litigation and other contingent liabilities		$ 9.2	$ 10.2
Performance Bonds
Loss Contingencies [Line Items]
Letters of credit secured using cash collateral		49
Outstanding performance bonds		$ 220.5

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Assets Measured on a Non-recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	$ 1,006	$ 765	$ 747
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	0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	1,006	765	747
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	0
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale			16,213
Fair Value, Measurements, Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale			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
Fair Value, Measurements, Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale			$ 16,213

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Values and Estimated Fair Values of Other Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 1,208,173	$ 1,207,526
Term Loan	53,080	52,669
Junior Subordinated Notes	60,387	59,870
Carrying values and estimated fair values of other financial assets and liabilities	1,321,640	1,320,065
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,282,912	1,253,614
Term Loan	53,080	52,669
Junior Subordinated Notes	60,387	59,870
Carrying values and estimated fair values of other financial assets and liabilities	$ 1,396,379	$ 1,366,153

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Total tax expense	$ (2,600)
Expense (benefit) from income taxes	(2,540)	$ 616
Tax Credit Carryforward, Amount	1,200
Valuation allowance	$ 66,300

Stock-based Compensation - Sch

Stock-based Compensation - Schedule of Compensation Cost for Share-based Payment Arrangement (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Before tax stock-based compensation expense	$ 2,176	$ 1,756
Tax benefit	(774)	(597)
After tax stock-based compensation expense	1,402	1,159
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Before tax stock-based compensation expense	107	148
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Before tax stock-based compensation expense	$ 2,069	$ 1,608

- Narrative (Details)

- Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares surrendered by employees (shares)	30,018	14,536
Payments related to tax withholding for share-based compensation	$ 387,000	$ 201,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period	3 years
Time Based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Granted restricted stock (shares)	269,402
Granted (in dollars per share)	$ 12.51
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock options outstanding	$ 707,751
Aggregate intrinsic value of exercisable stock options	700,000
Intrinsic value of options exercisable	300,000
Unrecognized compensation costs related to non-vested stock options award	$ 500,000		$ 400,000
Weighted average period to recognize remaining cost	2 years 11 days
Granted (shares)	27,110
Award vesting period	3 years
Expected dividends	0.00%
Risk free interest rate	1.83%
Employee purchase plan (EOP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted restricted stock (shares)	533,098
Granted (in dollars per share)	$ 13.05
Restricted Stock | 2017 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Granted (in dollars per share)	$ 13.60
Expected dividends	0.00%
Expected volatility rate range minimum (percent)	32.60%
Expected volatility rate range maximum (percent)	66.00%
Risk free interest rate	1.30%
Restricted Stock | 2017 Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	0.00%
Restricted Stock | 2017 Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	175.00%
Nonvested Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period to recognize remaining cost	2 years 6 days
Unrecognized compensation costs related to non-vested stock awards	$ 15,800,000		$ 11,000,000
Total Shareholder Return Performance Share | 2017 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	20.00%

Stock-based Compensation - S56

Stock-based Compensation - Schedule of Share-based Payment Arrangement, Stock Options, Valuation (Details) - Stock Options	3 Months Ended
	Dec. 31, 2016$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options	5 years 4 months 28 days
Expected volatility	50.26%
Expected dividends	0.00%
Weighted average risk-free interest rate	1.83%
Weighted average grant date fair value (in dollars per share)	$ 5.87

Stock-based Compensation - Sto

Stock-based Compensation - Stock options outstanding (Details) - Stock Options	3 Months Ended
	Dec. 31, 2016$ / sharesshares
Shares
Outstanding at beginning of period | shares	672,669
Granted | shares	27,110
Forfeited | shares	(1,334)
Outstanding at end of period | shares	698,445
Exercisable at end of period (shares) | shares	567,599
Vested or expected to vest in the future (shares) | shares	694,487
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 16.49
Granted (in dollars per share) | $ / shares	12.52
Forfeited (in dollars per share) | $ / shares	8.37
Outstanding at end of period (in dollars per share) | $ / shares	16.35
Exercisable at end of period (in dollars per share) | $ / shares	17.79
Vested or expected to vest in the future (in dollars per share) | $ / shares	$ 16.40

Stock-based Compensation - Non

Stock-based Compensation - Nonvested Stock Awards (Details)	3 Months Ended
	Dec. 31, 2016$ / sharesshares
Restricted Stock
Shares
Beginning of period | shares	1,255,817
Granted | shares	533,098
Vested | shares	(183,730)
Forfeited | shares	(28,690)
End of period | shares	1,576,495
Weighted Average Grant Date Fair Value
Beginning of period (in dollars per share) | $ / shares	$ 17.23
Granted (in dollars per share) | $ / shares	13.05
Vested (in dollars per share) | $ / shares	15.49
Forfeited (in dollars per share) | $ / shares	11.65
End of period (in dollars per share) | $ / shares	$ 16.12
Performance-Based Restricted Stock Awards
Shares
Beginning of period | shares	448,693
Granted | shares	263,696
Vested | shares	0
Forfeited | shares	(28,690)
End of period | shares	683,699
Weighted Average Grant Date Fair Value
Beginning of period (in dollars per share) | $ / shares	$ 16.71
Granted (in dollars per share) | $ / shares	13.60
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	11.65
End of period (in dollars per share) | $ / shares	$ 15.72
Time Based Restricted Stock Awards
Shares
Beginning of period | shares	807,124
Granted | shares	269,402
Vested | shares	(183,730)
Forfeited | shares	0
End of period | shares	892,796
Weighted Average Grant Date Fair Value
Beginning of period (in dollars per share) | $ / shares	$ 17.52
Granted (in dollars per share) | $ / shares	12.51
Vested (in dollars per share) | $ / shares	15.49
Forfeited (in dollars per share) | $ / shares	0
End of period (in dollars per share) | $ / shares	$ 16.43

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Nonvested Stock Awards
Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	1.5	1.2

Earnings Per Share - Diluted Sh

Earnings Per Share - Diluted Shares Calculation (Details) - shares shares in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Basic shares	31,893	31,757
Shares issuable upon vesting/exercise of stock awards/options	0	87
Diluted shares	31,893	31,844

Other Liabilities Other Liabi61

Other Liabilities Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Other Liabilities Disclosure [Abstract]
Accrued warranty expense	$ 32,309	$ 39,131	$ 28,913	$ 27,681
Accrued interest	25,089	11,530
Accrued bonuses and deferred comp	14,464	30,466
Customer deposits	13,273	12,140
Litigation accrual	9,187	10,178
Income tax liabilities	1,772	1,718
Other	25,617	29,090
Total other liabilities	$ 121,711	$ 134,253

Segment Information (Details)

Segment Information (Details) $ in Thousands		3 Months Ended
		Dec. 31, 2016USD ($)segmentstateregion	Dec. 31, 2015USD ($)	Sep. 30, 2016USD ($)
Segment Reporting [Abstract]
Number of states in which home building segments operate | state		13
Number of regions in which entity operates | segment		3
Number of homebuilding segments | region		3
Segment Reporting Information [Line Items]
Revenue		$ 339,241	$ 344,449
Operating income		1,275	9,148
Depreciation and amortization		2,677	2,991
Write-off of deposit on legacy land investment		2,700	0
Excess insurance recovery			3,600
Capital Expenditures		2,874	2,663
Total capital expenditures		2,874	2,663
Assets		2,188,143		$ 2,213,158
Operating Segments
Segment Reporting Information [Line Items]
Operating income		27,587	31,590
Depreciation and amortization		2,243	2,464
Corporate and unallocated
Segment Reporting Information [Line Items]
Operating income		(26,312)	(22,442)
Depreciation and amortization		434	527
Capital Expenditures		301	94
Assets	[1]	700,583		756,238
West Segment
Segment Reporting Information [Line Items]
Revenue		171,749	157,196
West Segment | Operating Segments
Segment Reporting Information [Line Items]
Operating income		21,015	16,786
Depreciation and amortization		1,248	1,218
Capital Expenditures		1,184	1,133
Assets		796,962		778,521
East Segment
Segment Reporting Information [Line Items]
Revenue		84,159	100,557
East Segment | Operating Segments
Segment Reporting Information [Line Items]
Operating income		1,557	4,147
Depreciation and amortization		529	797
Capital Expenditures		771	467
Assets		346,524		344,898
Southeast Segment
Segment Reporting Information [Line Items]
Revenue		83,333	86,696
Southeast Segment | Operating Segments
Segment Reporting Information [Line Items]
Operating income		5,015	10,657
Depreciation and amortization		466	449
Capital Expenditures		618	$ 969
Assets		$ 344,074		$ 333,501
[1]	Primarily consists of cash and cash equivalents, restricted cash, deferred taxes, capitalized interest and indirects and other items that are not allocated to the segments.

Supplemental Guarantor Inform63

Supplemental Guarantor Information - Unaudited Condensed Consolidating Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Total debt (net of premium of $1,535 and $1,482, respectively, and debt issuance costs of $14,509 and $15,514, respectively)	$ 1,336,483	$ 1,331,878
ASSETS
Cash and cash equivalents	158,623	228,871	$ 144,881	$ 251,583
Restricted cash	15,963	14,405
Accounts receivable (net of allowance of $350 and $354, respectively)	51,797	53,226
Income tax receivable	288	292
Owned inventory	1,618,544	1,569,279
Investments in unconsolidated entities	5,065	10,470
Deferred tax assets, net	312,666	309,955
Property and equipment, net	19,335	19,138
Investments in subsidiaries	0	0
Intercompany	0	0
Other assets	5,862	7,522
Total assets	2,188,143	2,213,158
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	86,730	104,174
Other liabilities	121,711	134,253
Intercompany	0	0
Total liabilities	1,544,924	1,570,305
Stockholders’ equity	643,219	642,853
Total liabilities and stockholders’ equity	2,188,143	2,213,158
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Total debt (net of premium of $1,535 and $1,482, respectively, and debt issuance costs of $14,509 and $15,514, respectively)	0	0
ASSETS
Cash and cash equivalents	(6,408)	(4,500)	(8,384)	(3,192)
Restricted cash	0	0
Accounts receivable (net of allowance of $350 and $354, respectively)	0	0
Income tax receivable	0	0
Owned inventory	0	0
Investments in unconsolidated entities	0	0
Deferred tax assets, net	0	0
Property and equipment, net	0	0
Investments in subsidiaries	(713,629)	(701,931)
Intercompany	(791,878)	(737,340)
Other assets	0	0
Total assets	(1,511,915)	(1,443,771)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	0	0
Intercompany	(798,286)	(741,840)
Total liabilities	(798,286)	(741,840)
Stockholders’ equity	(713,629)	(701,931)
Total liabilities and stockholders’ equity	(1,511,915)	(1,443,771)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Total debt (net of premium of $1,535 and $1,482, respectively, and debt issuance costs of $14,509 and $15,514, respectively)	1,321,640	1,320,065
ASSETS
Cash and cash equivalents	159,886	215,646	152,824	232,226
Restricted cash	14,683	12,867
Accounts receivable (net of allowance of $350 and $354, respectively)	0	0
Income tax receivable	288	292
Owned inventory	0	0
Investments in unconsolidated entities	773	773
Deferred tax assets, net	312,666	309,955
Property and equipment, net	0	0
Investments in subsidiaries	713,629	701,931
Intercompany	789,502	734,766
Other assets	822	577
Total assets	1,992,249	1,976,807
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	25,014	11,315
Intercompany	2,376	2,574
Total liabilities	1,349,030	1,333,954
Stockholders’ equity	643,219	642,853
Total liabilities and stockholders’ equity	1,992,249	1,976,807
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total debt (net of premium of $1,535 and $1,482, respectively, and debt issuance costs of $14,509 and $15,514, respectively)	14,843	11,813
ASSETS
Cash and cash equivalents	4,292	16,866	(547)	21,543
Restricted cash	1,280	1,538
Accounts receivable (net of allowance of $350 and $354, respectively)	51,797	53,225
Income tax receivable	0	0
Owned inventory	1,618,544	1,569,279
Investments in unconsolidated entities	4,292	9,697
Deferred tax assets, net	0	0
Property and equipment, net	19,335	19,138
Investments in subsidiaries	0	0
Intercompany	0	0
Other assets	5,040	6,930
Total assets	1,704,580	1,676,673
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	86,730	104,174
Other liabilities	96,345	122,561
Intercompany	795,910	739,266
Total liabilities	993,828	977,814
Stockholders’ equity	710,752	698,859
Total liabilities and stockholders’ equity	1,704,580	1,676,673
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total debt (net of premium of $1,535 and $1,482, respectively, and debt issuance costs of $14,509 and $15,514, respectively)	0	0
ASSETS
Cash and cash equivalents	853	859	$ 988	$ 1,006
Restricted cash	0	0
Accounts receivable (net of allowance of $350 and $354, respectively)	0	1
Income tax receivable	0	0
Owned inventory	0	0
Investments in unconsolidated entities	0	0
Deferred tax assets, net	0	0
Property and equipment, net	0	0
Investments in subsidiaries	0	0
Intercompany	2,376	2,574
Other assets	0	15
Total assets	3,229	3,449
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	352	377
Intercompany	0	0
Total liabilities	352	377
Stockholders’ equity	2,877	3,072
Total liabilities and stockholders’ equity	$ 3,229	$ 3,449

Supplemental Guarantor Inform64

Supplemental Guarantor Information - Unaudited Consolidating Statements of Income (Loss) and Unaudited Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Total revenue	$ 339,241	$ 344,449
Home construction and land sales expenses	285,578	285,511
Inventory impairments and abandonments	0	1,356
Gross profit	53,663	57,582
Commissions	13,323	13,774
General and administrative expenses	36,388	31,669
Depreciation and Amortization	2,677	2,991
Operating income	1,275	9,148
Equity in income of unconsolidated entities	22	60
Loss on extinguishment of debt	0	(828)
Other (expense) income, net	(5,196)	(6,565)
Income (loss) before income taxes	(3,899)	1,815
Expense (benefit) from income taxes	(2,540)	616
Equity in income of subsidiaries	0	0
Income (loss) from continuing operations	(1,359)	1,199
Loss from discontinued operations, net of tax	(70)	(200)
Equity in loss of subsidiaries from discontinued operations	0	0
Net income (loss) and comprehensive income (loss)	(1,429)	999
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Total revenue	(36)	(73)
Home construction and land sales expenses	(36)	(73)
Inventory impairments and abandonments		0
Gross profit	0	0
Commissions	0	0
General and administrative expenses	0
Depreciation and Amortization	0	0
Operating income	0	0
Equity in income of unconsolidated entities	0	0
Loss on extinguishment of debt		0
Other (expense) income, net	0	0
Income (loss) before income taxes	0	0
Expense (benefit) from income taxes	0	0
Equity in income of subsidiaries	(11,968)	(12,683)
Income (loss) from continuing operations	(11,968)	(12,683)
Loss from discontinued operations, net of tax	0	0
Equity in loss of subsidiaries from discontinued operations	70	200
Net income (loss) and comprehensive income (loss)	(11,898)	(12,483)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Total revenue	0	0
Home construction and land sales expenses	15,644	13,367
Inventory impairments and abandonments		0
Gross profit	(15,644)	(13,367)
Commissions	0	0
General and administrative expenses	0	0
Depreciation and Amortization	0	0
Operating income	(15,644)	(13,367)
Equity in income of unconsolidated entities	0	0
Loss on extinguishment of debt		(828)
Other (expense) income, net	(5,252)	(7,432)
Income (loss) before income taxes	(20,896)	(21,627)
Expense (benefit) from income taxes	(7,569)	(10,143)
Equity in income of subsidiaries	11,968	12,683
Income (loss) from continuing operations	(1,359)	1,199
Loss from discontinued operations, net of tax	(70)	0
Equity in loss of subsidiaries from discontinued operations	0	(200)
Net income (loss) and comprehensive income (loss)	(1,429)	999
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue	339,241	344,449
Home construction and land sales expenses	269,970	272,217
Inventory impairments and abandonments		1,356
Gross profit	69,271	70,876
Commissions	13,323	13,774
General and administrative expenses	36,365	31,642
Depreciation and Amortization	2,677	2,991
Operating income	16,906	22,469
Equity in income of unconsolidated entities	22	60
Loss on extinguishment of debt		0
Other (expense) income, net	57	868
Income (loss) before income taxes	16,985	23,397
Expense (benefit) from income taxes	5,025	10,742
Equity in income of subsidiaries	0	0
Income (loss) from continuing operations	11,960	12,655
Loss from discontinued operations, net of tax	0	(197)
Equity in loss of subsidiaries from discontinued operations	(67)	0
Net income (loss) and comprehensive income (loss)	11,893	12,458
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue	36	73
Home construction and land sales expenses	0	0
Inventory impairments and abandonments		0
Gross profit	36	73
Commissions	0	0
General and administrative expenses	23	27
Depreciation and Amortization	0	0
Operating income	13	46
Equity in income of unconsolidated entities	0	0
Loss on extinguishment of debt		0
Other (expense) income, net	(1)	(1)
Income (loss) before income taxes	12	45
Expense (benefit) from income taxes	4	17
Equity in income of subsidiaries	0	0
Income (loss) from continuing operations	8	28
Loss from discontinued operations, net of tax	0	(3)
Equity in loss of subsidiaries from discontinued operations	(3)	0
Net income (loss) and comprehensive income (loss)	$ 5	$ 25

Supplemental Guarantor Inform65

Supplemental Guarantor Information - Unaudited Condensed Consolidating Statements of Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	$ (62,834)	$ (77,849)
Cash flows from investing activities:
Capital expenditures	(2,874)	(2,663)
Proceeds from sale of fixed assets	46	2,437
Investments in unconsolidated entities	(1,397)	(1,779)
Return of capital from unconsolidated entities	1,621	1,142
Increases in restricted cash	(3,646)	(1,119)
Decreases in restricted cash	2,088	669
Advances to/from subsidiaries	0	0
Net cash used in investing activities	(4,162)	(1,313)
Cash flows from financing activities:
Repayment of debt	(2,525)	(26,926)
Debt issuance costs	(340)	(413)
Advances to/from subsidiaries	0	0
Other financing activities	(387)	(201)
Net cash used in financing activities	(3,252)	(27,540)
Decrease in cash and cash equivalents	(70,248)	(106,702)
Cash and cash equivalents at beginning of period	228,871	251,583
Cash and cash equivalents at end of period	158,623	144,881
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	0	0
Cash flows from investing activities:
Capital expenditures	0	0
Proceeds from sale of fixed assets	0	0
Investments in unconsolidated entities	0	0
Return of capital from unconsolidated entities	0	0
Increases in restricted cash	0	0
Decreases in restricted cash	0	0
Advances to/from subsidiaries	50,314	33,119
Net cash used in investing activities	50,314	33,119
Cash flows from financing activities:
Repayment of debt	0	0
Debt issuance costs	0	0
Advances to/from subsidiaries	(52,222)	(38,311)
Other financing activities	0	0
Net cash used in financing activities	(52,222)	(38,311)
Decrease in cash and cash equivalents	(1,908)	(5,192)
Cash and cash equivalents at beginning of period	(4,500)	(3,192)
Cash and cash equivalents at end of period	(6,408)	(8,384)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(2,902)	(22,794)
Cash flows from investing activities:
Capital expenditures	0	0
Proceeds from sale of fixed assets	0	0
Investments in unconsolidated entities	0	0
Return of capital from unconsolidated entities	0	0
Increases in restricted cash	(1,817)	0
Decreases in restricted cash	0	0
Advances to/from subsidiaries	(50,314)	(33,119)
Net cash used in investing activities	(52,131)	(33,119)
Cash flows from financing activities:
Repayment of debt	0	(22,875)
Debt issuance costs	(340)	(413)
Advances to/from subsidiaries	0	0
Other financing activities	(387)	(201)
Net cash used in financing activities	(727)	(23,489)
Decrease in cash and cash equivalents	(55,760)	(79,402)
Cash and cash equivalents at beginning of period	215,646	232,226
Cash and cash equivalents at end of period	159,886	152,824
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(59,928)	(55,038)
Cash flows from investing activities:
Capital expenditures	(2,874)	(2,663)
Proceeds from sale of fixed assets	46	2,437
Investments in unconsolidated entities	(1,397)	(1,779)
Return of capital from unconsolidated entities	1,621	1,142
Increases in restricted cash	(1,829)	(1,119)
Decreases in restricted cash	2,088	669
Advances to/from subsidiaries	0	0
Net cash used in investing activities	(2,345)	(1,313)
Cash flows from financing activities:
Repayment of debt	(2,525)	(4,051)
Debt issuance costs	0	0
Advances to/from subsidiaries	52,224	38,312
Other financing activities	0	0
Net cash used in financing activities	49,699	34,261
Decrease in cash and cash equivalents	(12,574)	(22,090)
Cash and cash equivalents at beginning of period	16,866	21,543
Cash and cash equivalents at end of period	4,292	(547)
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(4)	(17)
Cash flows from investing activities:
Capital expenditures	0	0
Proceeds from sale of fixed assets	0	0
Investments in unconsolidated entities	0	0
Return of capital from unconsolidated entities	0	0
Increases in restricted cash	0	0
Decreases in restricted cash	0	0
Advances to/from subsidiaries	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Repayment of debt	0	0
Debt issuance costs	0	0
Advances to/from subsidiaries	(2)	(1)
Other financing activities	0	0
Net cash used in financing activities	(2)	(1)
Decrease in cash and cash equivalents	(6)	(18)
Cash and cash equivalents at beginning of period	859	1,006
Cash and cash equivalents at end of period	$ 853	$ 988

Discontinued Operations - Resul

Discontinued Operations - Results of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of tax	$ (70)	$ (200)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenue	0	0
Home construction and land sales expenses	78	308
Gross loss	(78)	(308)
General and administrative expenses	31	2
Loss from discontinued operations before income taxes	(109)	(310)
Benefit from income taxes	(39)	(110)
Loss from discontinued operations, net of tax	$ (70)	$ (200)