Beazer Homes USA (BZH) 10-Q 4 May 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2017	Apr. 28, 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	Mar. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		33,545,740

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
ASSETS
Cash and cash equivalents	$ 138,809	$ 228,871
Restricted cash	14,696	14,405
Accounts receivable (net of allowance of $193 and $354, respectively)	43,781	53,226
Income tax receivable	288	292
Owned inventory	1,631,072	1,569,279
Investments in unconsolidated entities	6,112	10,470
Deferred tax assets, net	317,296	309,955
Property and equipment, net	18,981	19,138
Other assets	4,166	7,522
Total assets	2,175,201	2,213,158
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	100,290	104,174
Other liabilities	102,527	134,253
Total debt (net of premium of $3,799 and $1,482, respectively, and debt issuance costs of $15,709 and $15,514, respectively)	1,334,362	1,331,878
Total liabilities	1,537,179	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, 33,544,628 issued and outstanding and 33,071,331 issued and outstanding, respectively)	34	33
Paid-in capital	869,423	865,290
Accumulated deficit	(231,435)	(222,470)
Total stockholders’ equity	638,022	642,853
Total liabilities and stockholders’ equity	$ 2,175,201	$ 2,213,158

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
ASSETS
Allowances for accounts receivable	$ 193	$ 354
LIABILITIES AND STOCKHOLDERS’ EQUITY
Debt (premium) discounts	(3,799)	(1,482)
Debt issuance costs	$ 15,709	$ 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	33,544,628	33,071,331
Common stock, shares outstanding	33,544,628	33,071,331

Unaudited Condensed Consolidat4

Unaudited Condensed Consolidated Statements of Income (Loss) and Unaudited Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Total revenue	$ 425,468	$ 385,607	$ 764,709	$ 730,056
Home construction and land sales expenses	357,788	324,216	643,366	609,727
Inventory impairments and abandonments	282	1,825	282	3,181
Gross profit	67,398	59,566	121,061	117,148
Commissions	16,632	14,582	29,955	28,356
General and administrative expenses	40,100	38,898	76,488	70,567
Depreciation and amortization	3,155	3,056	5,832	6,047
Operating income	7,511	3,030	8,786	12,178
Equity in income (loss) of unconsolidated entities	33	(51)	55	9
Loss on extinguishment of debt	(15,563)	(1,631)	(15,563)	(2,459)
Other expense, net	(3,940)	(6,558)	(9,136)	(13,123)
Income (loss) before income taxes	(11,959)	(5,210)	(15,858)	(3,395)
Benefit from income taxes	(4,464)	(3,898)	(7,004)	(3,282)
Loss from continuing operations	(7,495)	(1,312)	(8,854)	(113)
Income (loss) from discontinued operations, net of tax	(40)	78	(110)	(122)
Net loss and comprehensive loss	$ (7,535)	$ (1,234)	$ (8,964)	$ (235)
Weighted average number of shares:
Basic and diluted (shares)	31,969	31,808	31,931	31,783
Basic and diluted loss per share:
Continuing operations (in dollars per share)	$ (0.23)	$ (0.04)	$ (0.27)	$ (0.01)
Discontinued operations (in dollars per share)	0	0	0	0
Total (in dollars per share)	$ (0.23)	$ (0.04)	$ (0.27)	$ (0.01)

Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net loss	$ (8,964)	$ (235)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,832	6,047
Stock-based compensation expense	4,517	3,787
Inventory impairments and abandonments	282	3,181
Deferred and other income tax benefit	(7,334)	(4,266)
Write-off of deposit on legacy land investment	2,700	0
Gain on sale of fixed assets	(72)	(820)
Change in allowance for doubtful accounts	(161)	(180)
Equity in income of unconsolidated entities	55	9
Cash distributions of income from unconsolidated entities	6	33
Non-cash loss on extinguishment of debt	3,676	155
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable	9,606	(3,044)
Decrease in income tax receivable	4	198
Increase in inventory	(50,031)	(44,328)
Decrease in other assets	3,546	3,446
Decrease in trade accounts payable	(3,884)	(14,983)
Decrease in other liabilities	(31,730)	(8,867)
Net cash used in operating activities	(72,062)	(59,885)
Cash flows from investing activities:
Capital expenditures	(5,677)	(6,017)
Proceeds from sale of fixed assets	74	2,471
Investments in unconsolidated entities	(2,411)	(2,787)
Return of capital from unconsolidated entities	1,621	1,141
Increases in restricted cash	(6,730)	(1,770)
Decreases in restricted cash	6,439	23,392
Net cash (used in) provided by investing activities	(6,684)	16,430
Cash flows from financing activities:
Repayment of debt	(256,207)	(208,221)
Proceeds from issuance of new debt	250,000	137,900
Repayment of borrowings from credit facility	25,000	25,000
Borrowings from credit facility	25,000	25,000
Debt issuance costs	(4,721)	(2,451)
Other financing activities	(388)	(423)
Net cash used in financing activities	(11,316)	(73,195)
Decrease in cash and cash equivalents	(90,062)	(116,650)
Cash and cash equivalents at beginning of period	228,871	251,583
Cash and cash equivalents at end of period	$ 138,809	$ 134,933

Description of Business

Description of Business	6 Months Ended
	Mar. 31, 2017
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	6 Months Ended
	Mar. 31, 2017
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 condensed 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 condensed financial statements. The results of our consolidated operations presented herein for the three and six months ended March 31, 2017 are not necessarily indicative of the results to be expected for the full fiscal 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 (loss) 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 (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 land 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 an operating lease or a finance 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 as specific line items within 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	6 Months Ended
	Mar. 31, 2017
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: Six Months Ended March 31, (In thousands) 2017 2016 Supplemental disclosure of non-cash activity: Non-cash land acquisitions (a) $ 5,197 $ 8,265 Land acquisitions for debt 6,304 — Supplemental disclosure of cash activity: Interest payments 50,153 60,998 Income tax payments 91 471 Tax refunds received 3 67 (a) For the six months ended March 31, 2017 and March 31, 2016 , 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	6 Months Ended
	Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities As of March 31, 2017 , 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 March 31, 2017 and September 30, 2016 : (In thousands) March 31, 2017 September 30, 2016 Beazer’s investment in unconsolidated entities $ 6,112 $ 10,470 Total equity of unconsolidated entities 15,725 31,615 Total outstanding borrowings of unconsolidated entities 17,568 14,702 Our equity in income (loss) from unconsolidated entity activities is as follows for the periods presented: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Equity in income (loss) of unconsolidated entities $ 33 $ (51 ) $ 55 $ 9 For the three and six months ended March 31, 2017 and 2016 , there were no impairments related to our investments in these unconsolidated entities. 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 March 31, 2017 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 and six months ended March 31, 2017 and 2016 , 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	6 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventory	Inventory The components of our owned inventory are as follows as of March 31, 2017 and September 30, 2016 : (In thousands) March 31, 2017 September 30, 2016 Homes under construction $ 462,017 $ 377,191 Development projects in progress 772,664 742,417 Land held for future development 152,724 213,006 Land held for sale 25,585 29,696 Capitalized interest 146,916 138,108 Model homes 71,166 68,861 Total owned inventory $ 1,631,072 $ 1,569,279 Homes under construction include homes substantially finished and ready for delivery and homes in various stages of construction, including the cost of the underlying lot. We had 119 (with a cost of $34.7 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 March 31, 2017 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 March 31, 2017 and September 30, 2016 : (In thousands) Projects in Progress (a) Land Held for Future Development Land Held for Sale Total Owned Inventory March 31, 2017 West Segment $ 647,239 $ 128,132 $ 8,144 $ 783,515 East Segment 297,967 13,649 15,129 326,745 Southeast Segment 308,362 10,943 1,210 320,515 Corporate and unallocated (b) 199,195 — 1,102 200,297 Total $ 1,452,763 $ 152,724 $ 25,585 $ 1,631,072 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 homes categories from the preceding table. (b) Projects in progress amount includes capitalized interest and indirect costs that are maintained within our Corporate and unallocated segment. 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 ten 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 March 31, 2017 , there were six communities on our watch list, five in our West segment and the other one in our East segment. However, none of these communities required further analysis to be performed after considering certain qualitative factors. For the quarter ended March 31, 2016 , there were two communities on our quarterly watch list, both in the West segment, that required further impairment analysis to be performed after considering the number of lots remaining in each community and certain other qualitative factors. This additional analysis was conducted for the two communities, leading to an impairment charge for one of these communities. The table below summarizes the results of our impairment analysis by reportable segment for the period presented: ($ in thousands) Undiscounted Cash Flow Analyses Prepared Segment (a) # of (b) # of (c) Pre-analysis Aggregate (d) Quarter Ended March 31, 2016 West 8 2 $ 20,809 108.0 % East 1 — — — % Corporate and unallocated (e) — — 1,105 N/A (f) Total 9 2 $ 21,914 (a) We have elected to aggregate our disclosure at the reportable segment level because we believe this level of disclosure is most meaningful to the readers of our financial statements. (b) Number of communities in this column excludes communities that are closing out and have less than ten closings remaining. (c) Number of communities in this column is lower than the number of communities on our watch list because it excludes communities due to certain qualitative considerations that would imply that the low profitability levels are temporary in nature. (d) An aggregate undiscounted cash flow as a percentage of book value under 100% would indicate a possible impairment and is consistent with our “watch list” methodology. While this metric for the communities in the West segment was above 100% for the quarter ended March 31, 2016 in total, for the community that we ultimately impaired, the metric was below 100%, while the metric for the community we did not impair was above 100%. (e) Amount represents capitalized interest and indirects balance related to the communities for which an undiscounted cash flow analysis was prepared. Capitalized interest and indirects are maintained within our Corporate and unallocated segment. (f) N/A - not applicable. The following table presents, by reportable segment, details around the impairment charges taken on projects in progress for the periods presented: ($ in thousands) Three and Six Months Ended Segment # of # of Lots Impairment Estimated Fair March 31, 2016 West 1 34 $ 1,513 $ 5,518 Corporate and unallocated (a) — — 312 — Total 1 34 $ 1,825 $ 5,518 (a) Amount represents capitalized interest and indirects balance that was impaired. Capitalized interest and indirects are maintained within our Corporate and unallocated segment. The following table presents the values of significant quantitative unobservable inputs we used in determining the fair value of the community we impaired during the periods presented: Three and Six Months Ended Unobservable Inputs March 31, 2016 Average selling price (in thousands) $ 409 Closings per community per month 2 Discount rate 15.33 % 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. The following table presents, by reportable segment, our total impairment and abandonment charges for the periods presented: Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2017 2016 2017 2016 Projects in Progress: West $ — $ 1,513 $ — $ 1,513 Corporate and unallocated — 312 — 312 Total impairment charges on projects in progress $ — $ 1,825 $ — $ 1,825 Land Held for Sale: West $ 94 $ — $ 94 $ — East — — — 197 Southeast — — — 371 Total impairment charges on land held for sale $ 94 $ — $ 94 $ 568 Abandonments: East $ 188 $ — $ 188 $ — Southeast — — — 788 Total abandonments charges $ 188 $ — $ 188 $ 788 Total impairment and abandonment charges $ 282 $ 1,825 $ 282 $ 3,181 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 March 31, 2017 and September 30, 2016 : (In thousands) Deposits & Non-refundable Pre-acquisition Costs Incurred Remaining Obligation As of March 31, 2017 Unconsolidated lot option agreements $ 92,227 $ 435,606 As of September 30, 2016 Unconsolidated lot option agreements $ 80,433 $ 446,414

Interest

Interest	6 Months Ended
	Mar. 31, 2017
Real Estate [Abstract]
Interest	Interest Our ability to capitalize interest incurred during the three and six months ended March 31, 2017 and 2016 was limited by our inventory eligible for capitalization. The following table presents certain information regarding interest for the periods presented: Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2017 2016 2017 2016 Capitalized interest in inventory, beginning of period $ 144,299 $ 132,462 $ 138,108 $ 123,457 Interest incurred 26,482 30,467 53,569 60,555 Capitalized interest impaired — (84 ) — (84 ) Interest expense not qualified for capitalization and included as other expense (a) (4,046 ) (6,633 ) (9,298 ) (14,065 ) Capitalized interest amortized to home construction and land sales expenses (b) (19,819 ) (16,073 ) (35,463 ) (29,724 ) Capitalized interest in inventory, end of period $ 146,916 $ 140,139 $ 146,916 $ 140,139 (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	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Borrowings	Borrowings As of March 31, 2017 and September 30, 2016 , we had the following debt, net of premiums/discounts and unamortized debt issuance costs: (In thousands) Maturity Date March 31, 2017 September 30, 2016 5 3/4% Senior Notes June 2019 $ 321,393 $ 321,393 7 1/2% Senior Notes September 2021 — 198,000 8 3/4% Senior Notes March 2022 500,000 500,000 7 1/4% Senior Notes February 2023 199,834 199,834 6 3/4% Senior Notes March 2025 250,000 — Unamortized debt premium, net 3,799 2,362 Unamortized debt issuance costs (16,478 ) (14,063 ) Total Senior Notes, net 1,258,548 1,207,526 Term Loan (net of unamortized discount of $880 and unamortized debt issuance costs of $1,451) March 2018 — 52,669 Junior Subordinated Notes (net of unamortized accretion of $39,870 and $40,903, respectively) July 2036 60,903 59,870 Other Secured Notes payable Various Dates 14,911 11,813 Total debt, net $ 1,334,362 $ 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 available 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 March 31, 2017 and September 30, 2016 , we had no borrowings outstanding under the Facility, but had $39.3 million and $38.2 million in letters of credit outstanding, respectively, leaving us with $140.7 million and $106.8 million in remaining capacity, respectively. The Facility contains certain covenants, including negative covenants and financial maintenance covenants, with which we are required to comply. As of March 31, 2017 , 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 March 31, 2017 and September 30, 2016 , we had letters of credit outstanding under these additional facilities of $13.1 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, if outstanding, 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, but 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 March 31, 2017 . In March 2017, we issued and sold $250 million aggregate principal amount of 6.75% unsecured Senior Notes due March 2025 at par (before underwriting and other issuance costs) through a private placement to qualified institutional buyers (the 2025 Notes). Interest on the 2025 Notes is payable semi-annually, beginning on September 15, 2017. The 2025 Notes will mature on March 15, 2025. We may redeem the 2025 Notes at any time prior to March 15, 2020, in whole or in part, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, together with accrued and unpaid interest to, but excluding, the redemption date, plus a customary make-whole premium. In addition, on or prior to March 15, 2020, we may redeem up to 35% of the aggregate principal amount of the 2025 Notes with the net cash proceeds of certain equity offerings at a redemption price equal to 106.75% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, provided at least 65% of the aggregate principal amount of the 2025 Notes originally issued remain outstanding immediately after such redemption. For additional redemption features of the 2025 Notes after March 15, 2020, refer to the table below that summarizes the redemption terms for our Senior Notes. The 2025 Notes are unsecured senior obligations that rank equally with all of our other unsecured senior indebtedness. The 2025 Notes are fully and unconditionally guaranteed jointly and severally on an unsecured senior basis by substantially all of our subsidiaries. The 2025 Notes and related guarantees are effectively junior to our secured obligations (such as the Facility) to the extent of the value of the collateral securing those obligations. Upon the occurrence of certain specified changes of control, the holders of the 2025 Notes will have the right to require us to purchase all or a part of the notes at a repurchase price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. 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 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 6 3/4% Senior Notes March 2017 March 2025 Callable at any time prior to March 15, 2020, 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, 2020, callable at a redemption price equal to 105.063% of the principal amount; on or after March 15, 2021, callable at a redemption price equal to 103.375% of the principal amount; on or after March 15, 2022, callable at a redemption price equal to 101.688% of the principal amount; on or after March 15, 2023, callable at a redemption price equal to 100.000% of the principal amount, plus, in each case, accrued and unpaid interest During the three months ended March 31, 2017 , we redeemed our outstanding Senior Notes due 2021, as well as the remaining balance on our term loan (discussed below), mainly by utilizing the proceeds received from the 2025 Notes issued during the current quarter , which is discussed above, as well as cash on hand. This debt repurchase activity resulted in a loss on extinguishment of debt of $15.6 million during the three and six months ended March 31, 2017 . During the second quarter of our fiscal 2016, we (1) redeemed our then outstanding Senior Notes due 2016, mainly by utilizing the proceeds received from the term loan issued, which is discussed below; and (2) redeemed $9.8 million and $0.6 million of our then outstanding Senior Notes due May 2019 and Senior Notes due June 2019, respectively. This debt repurchase activity resulted in a net loss on extinguishment of debt of $1.6 million during the three months ended March 31, 2016 , which when combined with the loss on extinguishment from the first fiscal quarter, resulted in a total loss on extinguishment of debt of $2.5 million for the six months ended March 31, 2016 . Term Loan. In March 2016, we entered into a credit agreement that provided us with a $140 million , two -year secured term loan (the Term Loan). We prepaid the remaining $55.0 million outstanding on the Term Loan in March 2017 with the proceeds of the 2025 Notes, along with cash on hand. 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 4.25% as of March 31, 2017 (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 and the Senior Notes. 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 March 31, 2017 , the unamortized accretion was $39.9 million and will be amortized over the remaining life of the notes. As of March 31, 2017 , 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 March 31, 2017 and September 30, 2016 , we had outstanding secured notes payable of $14.9 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 3.32% as of March 31, 2017 . 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	6 Months Ended
	Mar. 31, 2017
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 our 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 operating 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 Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Balance at beginning of period $ 32,309 $ 28,913 $ 39,131 $ 27,681 Accruals for warranties issued (a) 3,249 3,086 5,907 5,701 Changes in liability related to warranties existing in prior periods (b) 2,463 20,053 7,855 30,653 Payments made (b) (12,635 ) (11,149 ) (27,507 ) (23,132 ) Balance at end of period $ 25,386 $ 40,903 $ 25,386 $ 40,903 (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 March 31, 2017 , we cumulatively recorded charges related to these issues of $84.7 million (of which $19.6 million and $28.6 million were recorded in the three and six months ended March 31, 2016 , respectively). 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 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 $1.5 million and $6.1 million during the three and six months ended March 31, 2017 , respectively. As of March 31, 2017 , 705 homes have been identified as likely to require repairs (an increase of 15 homes over those that were anticipated to require repairs as of the end of our fiscal 2016), of which 550 homes have been repaired. We made payments related to the Florida stucco issues of $7.3 million and $17.3 million during the three and six months ended March 31, 2017 , respectively, 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 $11.4 million as of March 31, 2017 , which is included in our overall warranty liability detailed above. As of March 31, 2017 , 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 $4.1 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 insurers, refer to the “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 insurers, 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 March 31, 2017 . 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 exposure has exceeded the insurance claim limit for one division under our first layer of coverage; however, we are claiming and recovering additional 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 $2.3 million and $6.2 million in insurance recoveries during the three and six months ended March 31, 2017 , respectively, that we deem probable of receiving; this amount fully offset the current period expense related to the Florida stucco issues. For the three and six months ended March 31, 2016 , $19.8 million and $36.2 million , respectively, were recorded in insurance recoveries. The recoveries recorded during the six months ended March 31, 2016 were $3.6 million greater than the underlying expense related to the Florida stucco issues, as we began to recover more costs than initially anticipated. The remaining insurance recovery amount for the three and six months ended March 31, 2016 beyond the Florida stucco issues related to expenditures for warranty issues that were individually immaterial but are 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 insurers. 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 March 31, 2017 , no liability has been recorded for any additional claims related to this matter, as such exposure is not both probable and reasonably estimable. 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 and six months ended March 31, 2016 , we accrued $1.1 million and $2.3 million , respectively, 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 $4.0 million and $10.2 million in other liabilities on our consolidated balance sheets related to litigation and other matters, excluding warranty, as of March 31, 2017 and September 30, 2016 , respectively. We had outstanding letters of credit and performance bonds of approximately $52.4 million and $210.5 million , respectively, as of March 31, 2017 , 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 March 31, 2017 .

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Mar. 31, 2017
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 of assets deemed to be impaired is 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 Six Months Ended March 31, 2017 Deferred compensation plan assets (a) $ — $ 1,080 $ — $ 1,080 Land held for sale (b) — — 325 325 Six Months Ended March 31, 2016 Deferred compensation plan assets (a) $ — $ 804 $ — $ 804 Development projects in progress (b) — — 5,518 (c) 5,518 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) Amounts represent the impairment-date fair value of certain development projects in progress and land held for sale assets that were impaired during the six months ended March 31, 2016 . The fair value of our cash and cash equivalents, restricted cash, accounts receivable, trade accounts payable, other liabilities and amounts due under the Facility (if outstanding) 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 March 31, 2017 and September 30, 2016 : As of March 31, 2017 As of September 30, 2016 (In thousands) Carrying (a) Fair Value Carrying (a) Fair Value Senior Notes (b) $ 1,258,548 $ 1,338,024 $ 1,207,526 $ 1,253,614 Term Loan N/A (c) N/A 52,669 52,669 Junior Subordinated Notes 60,903 60,903 59,870 59,870 $ 1,319,451 $ 1,398,927 $ 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). (c) N/A - Not applicable

Income Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2017
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 $4.5 million and $7.1 million for the three and six months ended March 31, 2017 , respectively, compared to an income tax benefit of $3.9 million and $3.3 million for the three and six months ended March 31, 2016 , respectively. Our current fiscal year income tax benefit was primarily driven by (1) the loss in earnings from continuing operations; and (2) the Company's completion of work necessary to claim an additional $1.3 million in tax credits, which were recorded in the current fiscal year but related to our fiscal 2016. The tax benefit for the six months ended March 31, 2016 was primarily driven by (1) our loss in earnings from continuing operations; and (2) the Company's completion of work necessary to claim $1.4 million in tax credits, which were recorded in our fiscal 2016 but related to our fiscal 2015. 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 March 31, 2017 , we concluded that it is more likely than not that a substantial portion of our deferred tax assets will be realized. As of March 31, 2017 , 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.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Mar. 31, 2017
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 March 31, Six Months Ended March 31, (In thousands) 2017 2016 2017 2016 Stock options expense $ 55 $ 102 $ 162 $ 250 Restricted stock awards expense 2,286 1,929 4,355 3,538 Before tax stock-based compensation expense 2,341 2,031 4,517 3,788 Tax benefit (833 ) (991 ) (1,607 ) (1,848 ) After tax stock-based compensation expense $ 1,508 $ 1,040 $ 2,910 $ 1,940 During the six months ended March 31, 2017 and 2016 , employees surrendered 30,018 shares and 14,673 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 $137,000 for the six months ended March 31, 2017 and 2016 , 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 March 31, 2017 , the intrinsic value of our stock options outstanding, vested and expected to vest and exercisable were $0.5 million , $0.4 million and $0.1 million , respectively. As of both March 31, 2017 and September 30, 2016 , there was $0.4 million of total unrecognized compensation cost related to nonvested stock options. The cost remaining as of March 31, 2017 is expected to be recognized over a weighted-average period of 1.8 years . During the six months ended March 31, 2017 , we issued 29,410 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: Six Months Ended March 31, 2017 Expected life of options 5.4 years Expected volatility 50.10 % Expected dividends — Weighted average risk-free interest rate 1.85 % Weighted average fair value $ 5.83 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 periods presented is as follows: Three Months Ended Six Months Ended March 31, 2017 March 31, 2017 Shares Weighted Average Shares Weighted Average Outstanding at beginning of period 698,445 $ 16.35 672,669 $ 16.49 Granted 2,300 12.24 29,410 12.50 Forfeited (12,570 ) 13.39 (13,904 ) 12.91 Outstanding at end of period 688,175 $ 16.39 688,175 $ 16.39 Exercisable at end of period 563,943 $ 17.82 563,943 $ 17.82 Vested or expected to vest in the future 684,250 $ 16.44 684,250 $ 16.44 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 March 31, 2017 and September 30, 2016 , there was $13.5 million and $11.0 million , respectively, of total unrecognized compensation cost related to nonvested restricted stock awards. The cost remaining as of March 31, 2017 is expected to be recognized over a weighted average period of 1.8 years . We issued two types of restricted stock awards during the six months ended March 31, 2017 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 six months ended March 31, 2017 , 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 six months ended March 31, 2017 , 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 periods presented is as follows: Three Months Ended March 31, 2017 Performance-Based Restricted Stock Time-Based Restricted Stock Total Restricted Stock Shares Weighted Average Shares Weighted Average Shares Weighted Average Beginning of period 683,699 $ 15.72 892,796 $ 16.43 1,576,495 $ 16.12 Forfeited — — (1,093 ) 19.07 (1,093 ) 19.07 End of period 683,699 $ 15.72 891,703 $ 16.43 1,575,402 $ 16.12 Six Months Ended March 31, 2017 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 (1,093 ) 19.07 (29,783 ) 11.92 End of period 683,699 $ 15.72 891,703 $ 16.43 1,575,402 $ 16.12

Earnings Per Share

Earnings Per Share	6 Months Ended
	Mar. 31, 2017
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 and six months ended March 31, 2017 and March 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 both the three and six months ended March 31, 2017 , 1.6 million shares 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. For the three and six months ended March 31, 2016 , 2.0 million and 1.9 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 loss per share and diluted loss per share is as follows for the periods presented: Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2017 2016 2017 2016 Basic and diluted shares 31,969 31,808 31,931 31,783

Other Liabilities

Other Liabilities	6 Months Ended
	Mar. 31, 2017
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities Our other liabilities include the following as of March 31, 2017 and September 30, 2016 : (In thousands) March 31, 2017 September 30, 2016 Accrued warranty expense $ 25,386 $ 39,131 Accrued bonuses and deferred compensation 17,497 30,466 Customer deposits 14,579 12,140 Accrued interest 11,664 11,530 Litigation accrual 3,992 10,178 Income tax liabilities 1,897 1,718 Other 27,512 29,090 Total other liabilities $ 102,527 $ 134,253

Segment Information

Segment Information	6 Months Ended
	Mar. 31, 2017
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 Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Revenue West $ 185,155 $ 179,930 $ 356,904 $ 337,126 East 116,640 106,835 200,799 207,392 Southeast 123,673 98,842 207,006 185,538 Total revenue $ 425,468 $ 385,607 $ 764,709 $ 730,056 Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Operating income West $ 20,779 $ 18,927 $ 41,794 $ 35,713 East (a) 10,532 8,333 12,089 12,480 Southeast (b) 12,574 7,738 17,589 18,395 Segment total 43,885 34,998 71,472 66,588 Corporate and unallocated (c) (36,374 ) (31,968 ) (62,686 ) (54,410 ) Total operating income $ 7,511 $ 3,030 $ 8,786 $ 12,178 Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Depreciation and amortization West $ 1,545 $ 1,332 $ 2,793 $ 2,550 East 598 634 1,127 1,431 Southeast 656 547 1,122 996 Segment total 2,799 2,513 5,042 4,977 Corporate and unallocated (c) 356 543 790 1,070 Total depreciation and amortization $ 3,155 $ 3,056 $ 5,832 $ 6,047 (a) Operating income for our East segment for the six months ended March 31, 2017 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 six months ended March 31, 2016 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: Six Months Ended March 31, (In thousands) 2017 2016 Capital Expenditures West $ 3,165 $ 2,906 East 1,446 1,273 Southeast 875 1,622 Corporate and unallocated 191 216 Total capital expenditures $ 5,677 $ 6,017 The following table contains our asset balance by segment as of March 31, 2017 and September 30, 2016 : (In thousands) March 31, 2017 September 30, 2016 Assets West $ 807,218 $ 778,521 East 335,172 344,898 Southeast 343,125 333,501 Corporate and unallocated (a) 689,686 756,238 Total assets $ 2,175,201 $ 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	6 Months Ended
	Mar. 31, 2017
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 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 March 31, 2017 (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated ASSETS Cash and cash equivalents $ 142,287 $ 956 $ 804 $ (5,238 ) $ 138,809 Restricted cash 13,344 1,352 — — 14,696 Accounts receivable (net of allowance of $193) — 43,778 3 — 43,781 Income tax receivable 288 — — — 288 Owned inventory — 1,631,072 — — 1,631,072 Investments in unconsolidated entities 773 5,339 — — 6,112 Deferred tax assets, net 317,296 — — — 317,296 Property and equipment, net — 18,981 — — 18,981 Investments in subsidiaries 731,043 — — (731,043 ) — Intercompany 766,146 — 2,365 (768,511 ) — Other assets 769 3,383 14 — 4,166 Total assets $ 1,971,946 $ 1,704,861 $ 3,186 $ (1,504,792 ) $ 2,175,201 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $ — $ 100,290 $ — $ — $ 100,290 Other liabilities 12,107 90,096 324 — 102,527 Intercompany 2,365 771,384 — (773,749 ) — Total debt (net of premium and debt issuance costs) 1,319,452 14,910 — — 1,334,362 Total liabilities 1,333,924 976,680 324 (773,749 ) 1,537,179 Stockholders’ equity 638,022 728,181 2,862 (731,043 ) 638,022 Total liabilities and stockholders’ equity $ 1,971,946 $ 1,704,861 $ 3,186 $ (1,504,792 ) $ 2,175,201 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 March 31, 2017 Total revenue $ — $ 425,468 $ 24 $ (24 ) $ 425,468 Home construction and land sales expenses 19,819 337,993 — (24 ) 357,788 Inventory impairments and abandonments — 282 — — 282 Gross profit (loss) (19,819 ) 87,193 24 — 67,398 Commissions — 16,632 — — 16,632 General and administrative expenses — 40,071 29 — 40,100 Depreciation and amortization — 3,155 — — 3,155 Operating income (loss) (19,819 ) 27,335 (5 ) — 7,511 Equity in income of unconsolidated entities — 33 — — 33 Loss on extinguishment of debt (15,563 ) — — — (15,563 ) Other (expense) income, net (4,046 ) 114 (8 ) — (3,940 ) Income (loss) before income taxes (39,428 ) 27,482 (13 ) — (11,959 ) Expense (benefit) from income taxes (14,478 ) 10,019 (5 ) — (4,464 ) Equity in income of subsidiaries 17,455 — — (17,455 ) — Income (loss) from continuing operations (7,495 ) 17,463 (8 ) (17,455 ) (7,495 ) Loss from discontinued operations — (34 ) (6 ) — (40 ) Equity in loss of subsidiaries from discontinued operations (40 ) — 40 — Net income (loss) and comprehensive income (loss) $ (7,535 ) $ 17,429 $ (14 ) $ (17,415 ) $ (7,535 ) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended March 31, 2016 Total revenue $ — $ 385,607 $ 28 $ (28 ) $ 385,607 Home construction and land sales expenses 16,073 308,171 — (28 ) 324,216 Inventory impairments and abandonments 84 1,741 — — 1,825 Gross profit (loss) (16,157 ) 75,695 28 — 59,566 Commissions — 14,582 — — 14,582 General and administrative expenses — 38,867 31 38,898 Depreciation and amortization — 3,056 — — 3,056 Operating income (loss) (16,157 ) 19,190 (3 ) — 3,030 Equity in loss of unconsolidated entities — (51 ) — — (51 ) Loss on extinguishment of debt (1,631 ) — — — (1,631 ) Other (expense) income, net (6,633 ) 76 (1 ) — (6,558 ) Income (loss) before income taxes (24,421 ) 19,215 (4 ) — (5,210 ) Expense (benefit) from income taxes (11,917 ) 8,020 (1 ) — (3,898 ) Equity in income of subsidiaries 11,192 — — (11,192 ) — Income (loss) from continuing operations (1,312 ) 11,195 (3 ) (11,192 ) (1,312 ) Income (loss) from discontinued operations — 81 (3 ) — 78 Equity in income of subsidiaries from discontinued operations 78 — — (78 ) — Net income (loss) and comprehensive income (loss) $ (1,234 ) $ 11,276 $ (6 ) $ (11,270 ) $ (1,234 ) Beazer Homes USA, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Beazer Homes USA, Inc. Six Months Ended March 31, 2017 Total revenue $ — $ 764,709 $ 60 $ (60 ) $ 764,709 Home construction and land sales expenses 35,463 607,963 — (60 ) 643,366 Inventory impairments and abandonments — 282 — — 282 Gross profit (loss) (35,463 ) 156,464 60 — 121,061 Commissions — 29,955 — — 29,955 General and administrative expenses — 76,436 52 — 76,488 Depreciation and amortization — 5,832 — — 5,832 Operating income (loss) (35,463 ) 44,241 8 — 8,786 Equity in income of unconsolidated entities — 55 — — 55 Loss on extinguishment of debt (15,563 ) — — — (15,563 ) Other (expense) income, net (9,298 ) 171 (9 ) — (9,136 ) Income (loss) before income taxes (60,324 ) 44,467 (1 ) — (15,858 ) Expense (benefit) from income taxes (22,048 ) 15,044 — — (7,004 ) Equity in income of subsidiaries 29,422 — — (29,422 ) — Income (loss) from continuing operations (8,854 ) 29,423 (1 ) (29,422 ) (8,854 ) Loss from discontinued operations — (101 ) (9 ) — (110 ) Equity in loss of subsidiaries from discontinued operations (110 ) — — 110 — Net income (loss) and comprehensive income (loss) $ (8,964 ) $ 29,322 $ (10 ) $ (29,312 ) $ (8,964 ) Beazer Homes USA, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Beazer Homes USA, Inc. Six Months Ended March 31, 2016 Total revenue $ — $ 730,056 $ 101 $ (101 ) $ 730,056 Home construction and land sales expenses 29,440 580,388 — (101 ) 609,727 Inventory impairments and abandonments 84 3,097 — — 3,181 Gross profit (loss) (29,524 ) 146,571 101 — 117,148 Commissions — 28,356 — — 28,356 General and administrative expenses — 70,509 58 — 70,567 Depreciation and amortization — 6,047 — — 6,047 Operating income (loss) (29,524 ) 41,659 43 — 12,178 Equity in income of unconsolidated entities — 9 — — 9 Loss on extinguishment of debt (2,459 ) — — — (2,459 ) Other (expense) income, net (14,065 ) 944 (2 ) — (13,123 ) Income (loss) before income taxes (46,048 ) 42,612 41 — (3,395 ) Expense (benefit) from income taxes (22,060 ) 18,762 16 — (3,282 ) Equity in income of subsidiaries 23,875 — — (23,875 ) — Income (loss) from continuing operations (113 ) 23,850 25 (23,875 ) (113 ) Loss from discontinued operations — (116 ) (6 ) — (122 ) Equity in loss of subsidiaries and discontinued operations (122 ) — — 122 — Net income (loss) and comprehensive income (loss) $ (235 ) $ 23,734 $ 19 $ (23,753 ) $ (235 ) Beazer Homes USA, Inc. Unaudited Condensed Consolidating Statements of Cash Flow Information (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Six Months Ended March 31, 2017 Net cash used in operating activities $ (44,754 ) $ (27,243 ) $ (65 ) $ — $ (72,062 ) Cash flows from investing activities: Capital expenditures — (5,677 ) — — (5,677 ) Proceeds from sale of fixed assets — 74 — — 74 Investments in unconsolidated entities — (2,411 ) — — (2,411 ) Return of capital from unconsolidated entities — 1,621 — — 1,621 Increases in restricted cash (3,424 ) (3,306 ) — — (6,730 ) Decreases in restricted cash 2,947 3,492 — — 6,439 Advances to/from subsidiaries (20,019 ) — 10 20,009 — Net cash (used in) provided by investing activities (20,496 ) (6,207 ) 10 20,009 (6,684 ) Cash flows from financing activities: Repayment of debt (253,000 ) (3,207 ) — — (256,207 ) Proceeds from issuance of new debt 250,000 — — — 250,000 Repayment of borrowings from credit facility (25,000 ) — — — (25,000 ) Borrowings from credit facility 25,000 — — — 25,000 Debt issuance costs (4,721 ) — — — (4,721 ) Advances to/from subsidiaries — 20,747 — (20,747 ) — Other financing activities (388 ) — — — (388 ) Net cash used in financing activities (8,109 ) 17,540 — (20,747 ) (11,316 ) Decrease in cash and cash equivalents (73,359 ) (15,910 ) (55 ) (738 ) (90,062 ) 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 $ 142,287 $ 956 $ 804 $ (5,238 ) $ 138,809 Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Six Months Ended March 31, 2016 Net cash used in operating activities $ (32,839 ) $ (26,968 ) $ (78 ) $ — $ (59,885 ) Cash flows from investing activities: Capital expenditures — (6,017 ) — — (6,017 ) Proceeds from sale of fixed assets — 2,471 — — 2,471 Investments in unconsolidated entities — (2,787 ) — — (2,787 ) Return of capital from unconsolidated entities — 1,141 — — 1,141 Increases in restricted cash (656 ) (1,114 ) — — (1,770 ) Decreases in restricted cash 22,368 1,024 — — 23,392 Advances to/from subsidiaries (17,322 ) — — 17,322 — Net cash provided by (used in) investing activities 4,390 (5,282 ) — 17,322 16,430 Cash flows from financing activities: Repayment of debt (203,679 ) (4,542 ) — — (208,221 ) Proceeds from issuance of new debt 137,900 — — — 137,900 Borrowings from credit facility 25,000 — — — 25,000 Repayment of borrowings from credit facility (25,000 ) — — — (25,000 ) Debt issuance costs (2,451 ) — — — (2,451 ) Advances to/from subsidiaries — 20,888 12 (20,900 ) — Other financing activities (423 ) — — — (423 ) Net cash (used in) provided by financing activities (68,653 ) 16,346 12 (20,900 ) (73,195 ) Decrease in cash and cash equivalents (97,102 ) (15,904 ) (66 ) (3,578 ) (116,650 ) 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 $ 135,124 $ 5,639 $ 940 $ (6,770 ) $ 134,933

Discontinued Operations

Discontinued Operations	6 Months Ended
	Mar. 31, 2017
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 March 31, 2017 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 Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Total revenue $ — $ — $ — $ — Home construction and land sales expenses 6 (56 ) 84 252 Gross profit (loss) (6 ) 56 (84 ) (252 ) General and administrative expenses 60 (55 ) 91 (53 ) Operating income (loss) (66 ) 111 (175 ) (199 ) Other expense, net (3 ) — (3 ) — Income (loss) from discontinued operations before income taxes (69 ) 111 (178 ) (199 ) Expense (benefit) from income taxes (29 ) 33 (68 ) (77 ) Income (loss) from discontinued operations, net of tax $ (40 ) $ 78 $ (110 ) $ (122 )

Basis of Presentation and Sum22

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2017
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 (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 land 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 an operating lease or a finance 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 as specific line items within 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)	6 Months Ended
	Mar. 31, 2017
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: Six Months Ended March 31, (In thousands) 2017 2016 Supplemental disclosure of non-cash activity: Non-cash land acquisitions (a) $ 5,197 $ 8,265 Land acquisitions for debt 6,304 — Supplemental disclosure of cash activity: Interest payments 50,153 60,998 Income tax payments 91 471 Tax refunds received 3 67 (a) For the six months ended March 31, 2017 and March 31, 2016 , 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)	6 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and September 30, 2016 : (In thousands) March 31, 2017 September 30, 2016 Beazer’s investment in unconsolidated entities $ 6,112 $ 10,470 Total equity of unconsolidated entities 15,725 31,615 Total outstanding borrowings of unconsolidated entities 17,568 14,702 Our equity in income (loss) from unconsolidated entity activities is as follows for the periods presented: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Equity in income (loss) of unconsolidated entities $ 33 $ (51 ) $ 55 $ 9

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of inventory	The components of our owned inventory are as follows as of March 31, 2017 and September 30, 2016 : (In thousands) March 31, 2017 September 30, 2016 Homes under construction $ 462,017 $ 377,191 Development projects in progress 772,664 742,417 Land held for future development 152,724 213,006 Land held for sale 25,585 29,696 Capitalized interest 146,916 138,108 Model homes 71,166 68,861 Total owned inventory $ 1,631,072 $ 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 March 31, 2017 and September 30, 2016 : (In thousands) Projects in Progress (a) Land Held for Future Development Land Held for Sale Total Owned Inventory March 31, 2017 West Segment $ 647,239 $ 128,132 $ 8,144 $ 783,515 East Segment 297,967 13,649 15,129 326,745 Southeast Segment 308,362 10,943 1,210 320,515 Corporate and unallocated (b) 199,195 — 1,102 200,297 Total $ 1,452,763 $ 152,724 $ 25,585 $ 1,631,072 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 homes categories from the preceding table. (b) Projects in progress amount includes capitalized interest and indirect costs that are maintained within our Corporate and unallocated segment. Land held for sale amount includes parcels held by our discontinued operations.
Recoverability schedule of inventory assets held for development, by reportable segment		The table below summarizes the results of our impairment analysis by reportable segment for the period presented: ($ in thousands) Undiscounted Cash Flow Analyses Prepared Segment (a) # of (b) # of (c) Pre-analysis Aggregate (d) Quarter Ended March 31, 2016 West 8 2 $ 20,809 108.0 % East 1 — — — % Corporate and unallocated (e) — — 1,105 N/A (f) Total 9 2 $ 21,914 (a) We have elected to aggregate our disclosure at the reportable segment level because we believe this level of disclosure is most meaningful to the readers of our financial statements. (b) Number of communities in this column excludes communities that are closing out and have less than ten closings remaining. (c) Number of communities in this column is lower than the number of communities on our watch list because it excludes communities due to certain qualitative considerations that would imply that the low profitability levels are temporary in nature. (d) An aggregate undiscounted cash flow as a percentage of book value under 100% would indicate a possible impairment and is consistent with our “watch list” methodology. While this metric for the communities in the West segment was above 100% for the quarter ended March 31, 2016 in total, for the community that we ultimately impaired, the metric was below 100%, while the metric for the community we did not impair was above 100%. (e) Amount represents capitalized interest and indirects balance related to the communities for which an undiscounted cash flow analysis was prepared. Capitalized interest and indirects are maintained within our Corporate and unallocated segment. (f) N/A - not applicable.
Schedule of discounted cash flow analysis		The following table presents, by reportable segment, details around the impairment charges taken on projects in progress for the periods presented: ($ in thousands) Three and Six Months Ended Segment # of # of Lots Impairment Estimated Fair March 31, 2016 West 1 34 $ 1,513 $ 5,518 Corporate and unallocated (a) — — 312 — Total 1 34 $ 1,825 $ 5,518 (a) Amount represents capitalized interest and indirects balance that was impaired. Capitalized interest and indirects are maintained within our Corporate and unallocated segment.
Quantitative unobservable inputs for inventory impairment		The following table presents the values of significant quantitative unobservable inputs we used in determining the fair value of the community we impaired during the periods presented: Three and Six Months Ended Unobservable Inputs March 31, 2016 Average selling price (in thousands) $ 409 Closings per community per month 2 Discount rate 15.33 %
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 periods presented: Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2017 2016 2017 2016 Projects in Progress: West $ — $ 1,513 $ — $ 1,513 Corporate and unallocated — 312 — 312 Total impairment charges on projects in progress $ — $ 1,825 $ — $ 1,825 Land Held for Sale: West $ 94 $ — $ 94 $ — East — — — 197 Southeast — — — 371 Total impairment charges on land held for sale $ 94 $ — $ 94 $ 568 Abandonments: East $ 188 $ — $ 188 $ — Southeast — — — 788 Total abandonments charges $ 188 $ — $ 188 $ 788 Total impairment and abandonment charges $ 282 $ 1,825 $ 282 $ 3,181
Summary of interests in lot option agreements	The following table provides a summary of our interests in lot option agreements as of March 31, 2017 and September 30, 2016 : (In thousands) Deposits & Non-refundable Pre-acquisition Costs Incurred Remaining Obligation As of March 31, 2017 Unconsolidated lot option agreements $ 92,227 $ 435,606 As of September 30, 2016 Unconsolidated lot option agreements $ 80,433 $ 446,414

Interest (Tables)

Interest (Tables)	6 Months Ended
	Mar. 31, 2017
Real Estate [Abstract]
Real Estate Inventory, Capitalized Interest Costs	The following table presents certain information regarding interest for the periods presented: Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2017 2016 2017 2016 Capitalized interest in inventory, beginning of period $ 144,299 $ 132,462 $ 138,108 $ 123,457 Interest incurred 26,482 30,467 53,569 60,555 Capitalized interest impaired — (84 ) — (84 ) Interest expense not qualified for capitalization and included as other expense (a) (4,046 ) (6,633 ) (9,298 ) (14,065 ) Capitalized interest amortized to home construction and land sales expenses (b) (19,819 ) (16,073 ) (35,463 ) (29,724 ) Capitalized interest in inventory, end of period $ 146,916 $ 140,139 $ 146,916 $ 140,139 (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)	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	As of March 31, 2017 and September 30, 2016 , we had the following debt, net of premiums/discounts and unamortized debt issuance costs: (In thousands) Maturity Date March 31, 2017 September 30, 2016 5 3/4% Senior Notes June 2019 $ 321,393 $ 321,393 7 1/2% Senior Notes September 2021 — 198,000 8 3/4% Senior Notes March 2022 500,000 500,000 7 1/4% Senior Notes February 2023 199,834 199,834 6 3/4% Senior Notes March 2025 250,000 — Unamortized debt premium, net 3,799 2,362 Unamortized debt issuance costs (16,478 ) (14,063 ) Total Senior Notes, net 1,258,548 1,207,526 Term Loan (net of unamortized discount of $880 and unamortized debt issuance costs of $1,451) March 2018 — 52,669 Junior Subordinated Notes (net of unamortized accretion of $39,870 and $40,903, respectively) July 2036 60,903 59,870 Other Secured Notes payable Various Dates 14,911 11,813 Total debt, net $ 1,334,362 $ 1,331,878
Debt Instrument Redemption	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 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 6 3/4% Senior Notes March 2017 March 2025 Callable at any time prior to March 15, 2020, 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, 2020, callable at a redemption price equal to 105.063% of the principal amount; on or after March 15, 2021, callable at a redemption price equal to 103.375% of the principal amount; on or after March 15, 2022, callable at a redemption price equal to 101.688% of the principal amount; on or after March 15, 2023, callable at a redemption price equal to 100.000% of the principal amount, plus, in each case, accrued and unpaid interest

Contingencies (Tables)

Contingencies (Tables)	6 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Warranty reserves	Changes in our warranty reserves are as follows for the periods presented: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Balance at beginning of period $ 32,309 $ 28,913 $ 39,131 $ 27,681 Accruals for warranties issued (a) 3,249 3,086 5,907 5,701 Changes in liability related to warranties existing in prior periods (b) 2,463 20,053 7,855 30,653 Payments made (b) (12,635 ) (11,149 ) (27,507 ) (23,132 ) Balance at end of period $ 25,386 $ 40,903 $ 25,386 $ 40,903 (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)	6 Months Ended
	Mar. 31, 2017
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 Six Months Ended March 31, 2017 Deferred compensation plan assets (a) $ — $ 1,080 $ — $ 1,080 Land held for sale (b) — — 325 325 Six Months Ended March 31, 2016 Deferred compensation plan assets (a) $ — $ 804 $ — $ 804 Development projects in progress (b) — — 5,518 (c) 5,518 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) Amounts represent the impairment-date fair value of certain development projects in progress and land held for sale assets that were impaired during the six months ended March 31, 2016 .
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 March 31, 2017 and September 30, 2016 : As of March 31, 2017 As of September 30, 2016 (In thousands) Carrying (a) Fair Value Carrying (a) Fair Value Senior Notes (b) $ 1,258,548 $ 1,338,024 $ 1,207,526 $ 1,253,614 Term Loan N/A (c) N/A 52,669 52,669 Junior Subordinated Notes 60,903 60,903 59,870 59,870 $ 1,319,451 $ 1,398,927 $ 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). (c) N/A - Not applicable

Stock-based compensation (Table

Stock-based compensation (Tables)	6 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of stock-based compensation expense	A summary of the expense related to stock-based compensation by award type is as follows for the periods presented: Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2017 2016 2017 2016 Stock options expense $ 55 $ 102 $ 162 $ 250 Restricted stock awards expense 2,286 1,929 4,355 3,538 Before tax stock-based compensation expense 2,341 2,031 4,517 3,788 Tax benefit (833 ) (991 ) (1,607 ) (1,848 ) After tax stock-based compensation expense $ 1,508 $ 1,040 $ 2,910 $ 1,940
Summary of stock option valuation assumptions	We used the following assumptions for stock options granted, which derived the weighted average fair value shown, for the period presented: Six Months Ended March 31, 2017 Expected life of options 5.4 years Expected volatility 50.10 % Expected dividends — Weighted average risk-free interest rate 1.85 % Weighted average fair value $ 5.83
Schedule of stock options and SSARs outstanding	Activity related to stock options for the periods presented is as follows: Three Months Ended Six Months Ended March 31, 2017 March 31, 2017 Shares Weighted Average Shares Weighted Average Outstanding at beginning of period 698,445 $ 16.35 672,669 $ 16.49 Granted 2,300 12.24 29,410 12.50 Forfeited (12,570 ) 13.39 (13,904 ) 12.91 Outstanding at end of period 688,175 $ 16.39 688,175 $ 16.39 Exercisable at end of period 563,943 $ 17.82 563,943 $ 17.82 Vested or expected to vest in the future 684,250 $ 16.44 684,250 $ 16.44
Schedule of nonvested stock awards activity	Activity relating to restricted stock awards for the periods presented is as follows: Three Months Ended March 31, 2017 Performance-Based Restricted Stock Time-Based Restricted Stock Total Restricted Stock Shares Weighted Average Shares Weighted Average Shares Weighted Average Beginning of period 683,699 $ 15.72 892,796 $ 16.43 1,576,495 $ 16.12 Forfeited — — (1,093 ) 19.07 (1,093 ) 19.07 End of period 683,699 $ 15.72 891,703 $ 16.43 1,575,402 $ 16.12 Six Months Ended March 31, 2017 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 (1,093 ) 19.07 (29,783 ) 11.92 End of period 683,699 $ 15.72 891,703 $ 16.43 1,575,402 $ 16.12

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	The weighted average number of common shares outstanding used to calculate basic loss per share and diluted loss per share is as follows for the periods presented: Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2017 2016 2017 2016 Basic and diluted shares 31,969 31,808 31,931 31,783

Other Liabilities Other Liabili

Other Liabilities Other Liabilities (Tables)	6 Months Ended
	Mar. 31, 2017
Other Liabilities Disclosure [Abstract]
Schedule of other liabilities	Our other liabilities include the following as of March 31, 2017 and September 30, 2016 : (In thousands) March 31, 2017 September 30, 2016 Accrued warranty expense $ 25,386 $ 39,131 Accrued bonuses and deferred compensation 17,497 30,466 Customer deposits 14,579 12,140 Accrued interest 11,664 11,530 Litigation accrual 3,992 10,178 Income tax liabilities 1,897 1,718 Other 27,512 29,090 Total other liabilities $ 102,527 $ 134,253

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Mar. 31, 2017
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 Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Revenue West $ 185,155 $ 179,930 $ 356,904 $ 337,126 East 116,640 106,835 200,799 207,392 Southeast 123,673 98,842 207,006 185,538 Total revenue $ 425,468 $ 385,607 $ 764,709 $ 730,056 Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Operating income West $ 20,779 $ 18,927 $ 41,794 $ 35,713 East (a) 10,532 8,333 12,089 12,480 Southeast (b) 12,574 7,738 17,589 18,395 Segment total 43,885 34,998 71,472 66,588 Corporate and unallocated (c) (36,374 ) (31,968 ) (62,686 ) (54,410 ) Total operating income $ 7,511 $ 3,030 $ 8,786 $ 12,178 Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Depreciation and amortization West $ 1,545 $ 1,332 $ 2,793 $ 2,550 East 598 634 1,127 1,431 Southeast 656 547 1,122 996 Segment total 2,799 2,513 5,042 4,977 Corporate and unallocated (c) 356 543 790 1,070 Total depreciation and amortization $ 3,155 $ 3,056 $ 5,832 $ 6,047 (a) Operating income for our East segment for the six months ended March 31, 2017 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 six months ended March 31, 2016 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: Six Months Ended March 31, (In thousands) 2017 2016 Capital Expenditures West $ 3,165 $ 2,906 East 1,446 1,273 Southeast 875 1,622 Corporate and unallocated 191 216 Total capital expenditures $ 5,677 $ 6,017 The following table contains our asset balance by segment as of March 31, 2017 and September 30, 2016 : (In thousands) March 31, 2017 September 30, 2016 Assets West $ 807,218 $ 778,521 East 335,172 344,898 Southeast 343,125 333,501 Corporate and unallocated (a) 689,686 756,238 Total assets $ 2,175,201 $ 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)	6 Months Ended
	Mar. 31, 2017
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 March 31, 2017 (In thousands) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated ASSETS Cash and cash equivalents $ 142,287 $ 956 $ 804 $ (5,238 ) $ 138,809 Restricted cash 13,344 1,352 — — 14,696 Accounts receivable (net of allowance of $193) — 43,778 3 — 43,781 Income tax receivable 288 — — — 288 Owned inventory — 1,631,072 — — 1,631,072 Investments in unconsolidated entities 773 5,339 — — 6,112 Deferred tax assets, net 317,296 — — — 317,296 Property and equipment, net — 18,981 — — 18,981 Investments in subsidiaries 731,043 — — (731,043 ) — Intercompany 766,146 — 2,365 (768,511 ) — Other assets 769 3,383 14 — 4,166 Total assets $ 1,971,946 $ 1,704,861 $ 3,186 $ (1,504,792 ) $ 2,175,201 LIABILITIES AND STOCKHOLDERS’ EQUITY Trade accounts payable $ — $ 100,290 $ — $ — $ 100,290 Other liabilities 12,107 90,096 324 — 102,527 Intercompany 2,365 771,384 — (773,749 ) — Total debt (net of premium and debt issuance costs) 1,319,452 14,910 — — 1,334,362 Total liabilities 1,333,924 976,680 324 (773,749 ) 1,537,179 Stockholders’ equity 638,022 728,181 2,862 (731,043 ) 638,022 Total liabilities and stockholders’ equity $ 1,971,946 $ 1,704,861 $ 3,186 $ (1,504,792 ) $ 2,175,201 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 March 31, 2017 Total revenue $ — $ 425,468 $ 24 $ (24 ) $ 425,468 Home construction and land sales expenses 19,819 337,993 — (24 ) 357,788 Inventory impairments and abandonments — 282 — — 282 Gross profit (loss) (19,819 ) 87,193 24 — 67,398 Commissions — 16,632 — — 16,632 General and administrative expenses — 40,071 29 — 40,100 Depreciation and amortization — 3,155 — — 3,155 Operating income (loss) (19,819 ) 27,335 (5 ) — 7,511 Equity in income of unconsolidated entities — 33 — — 33 Loss on extinguishment of debt (15,563 ) — — — (15,563 ) Other (expense) income, net (4,046 ) 114 (8 ) — (3,940 ) Income (loss) before income taxes (39,428 ) 27,482 (13 ) — (11,959 ) Expense (benefit) from income taxes (14,478 ) 10,019 (5 ) — (4,464 ) Equity in income of subsidiaries 17,455 — — (17,455 ) — Income (loss) from continuing operations (7,495 ) 17,463 (8 ) (17,455 ) (7,495 ) Loss from discontinued operations — (34 ) (6 ) — (40 ) Equity in loss of subsidiaries from discontinued operations (40 ) — 40 — Net income (loss) and comprehensive income (loss) $ (7,535 ) $ 17,429 $ (14 ) $ (17,415 ) $ (7,535 ) Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Three Months Ended March 31, 2016 Total revenue $ — $ 385,607 $ 28 $ (28 ) $ 385,607 Home construction and land sales expenses 16,073 308,171 — (28 ) 324,216 Inventory impairments and abandonments 84 1,741 — — 1,825 Gross profit (loss) (16,157 ) 75,695 28 — 59,566 Commissions — 14,582 — — 14,582 General and administrative expenses — 38,867 31 38,898 Depreciation and amortization — 3,056 — — 3,056 Operating income (loss) (16,157 ) 19,190 (3 ) — 3,030 Equity in loss of unconsolidated entities — (51 ) — — (51 ) Loss on extinguishment of debt (1,631 ) — — — (1,631 ) Other (expense) income, net (6,633 ) 76 (1 ) — (6,558 ) Income (loss) before income taxes (24,421 ) 19,215 (4 ) — (5,210 ) Expense (benefit) from income taxes (11,917 ) 8,020 (1 ) — (3,898 ) Equity in income of subsidiaries 11,192 — — (11,192 ) — Income (loss) from continuing operations (1,312 ) 11,195 (3 ) (11,192 ) (1,312 ) Income (loss) from discontinued operations — 81 (3 ) — 78 Equity in income of subsidiaries from discontinued operations 78 — — (78 ) — Net income (loss) and comprehensive income (loss) $ (1,234 ) $ 11,276 $ (6 ) $ (11,270 ) $ (1,234 ) Beazer Homes USA, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Beazer Homes USA, Inc. Six Months Ended March 31, 2017 Total revenue $ — $ 764,709 $ 60 $ (60 ) $ 764,709 Home construction and land sales expenses 35,463 607,963 — (60 ) 643,366 Inventory impairments and abandonments — 282 — — 282 Gross profit (loss) (35,463 ) 156,464 60 — 121,061 Commissions — 29,955 — — 29,955 General and administrative expenses — 76,436 52 — 76,488 Depreciation and amortization — 5,832 — — 5,832 Operating income (loss) (35,463 ) 44,241 8 — 8,786 Equity in income of unconsolidated entities — 55 — — 55 Loss on extinguishment of debt (15,563 ) — — — (15,563 ) Other (expense) income, net (9,298 ) 171 (9 ) — (9,136 ) Income (loss) before income taxes (60,324 ) 44,467 (1 ) — (15,858 ) Expense (benefit) from income taxes (22,048 ) 15,044 — — (7,004 ) Equity in income of subsidiaries 29,422 — — (29,422 ) — Income (loss) from continuing operations (8,854 ) 29,423 (1 ) (29,422 ) (8,854 ) Loss from discontinued operations — (101 ) (9 ) — (110 ) Equity in loss of subsidiaries from discontinued operations (110 ) — — 110 — Net income (loss) and comprehensive income (loss) $ (8,964 ) $ 29,322 $ (10 ) $ (29,312 ) $ (8,964 ) Beazer Homes USA, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Beazer Homes USA, Inc. Six Months Ended March 31, 2016 Total revenue $ — $ 730,056 $ 101 $ (101 ) $ 730,056 Home construction and land sales expenses 29,440 580,388 — (101 ) 609,727 Inventory impairments and abandonments 84 3,097 — — 3,181 Gross profit (loss) (29,524 ) 146,571 101 — 117,148 Commissions — 28,356 — — 28,356 General and administrative expenses — 70,509 58 — 70,567 Depreciation and amortization — 6,047 — — 6,047 Operating income (loss) (29,524 ) 41,659 43 — 12,178 Equity in income of unconsolidated entities — 9 — — 9 Loss on extinguishment of debt (2,459 ) — — — (2,459 ) Other (expense) income, net (14,065 ) 944 (2 ) — (13,123 ) Income (loss) before income taxes (46,048 ) 42,612 41 — (3,395 ) Expense (benefit) from income taxes (22,060 ) 18,762 16 — (3,282 ) Equity in income of subsidiaries 23,875 — — (23,875 ) — Income (loss) from continuing operations (113 ) 23,850 25 (23,875 ) (113 ) Loss from discontinued operations — (116 ) (6 ) — (122 ) Equity in loss of subsidiaries and discontinued operations (122 ) — — 122 — Net income (loss) and comprehensive income (loss) $ (235 ) $ 23,734 $ 19 $ (23,753 ) $ (235 )
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 Six Months Ended March 31, 2017 Net cash used in operating activities $ (44,754 ) $ (27,243 ) $ (65 ) $ — $ (72,062 ) Cash flows from investing activities: Capital expenditures — (5,677 ) — — (5,677 ) Proceeds from sale of fixed assets — 74 — — 74 Investments in unconsolidated entities — (2,411 ) — — (2,411 ) Return of capital from unconsolidated entities — 1,621 — — 1,621 Increases in restricted cash (3,424 ) (3,306 ) — — (6,730 ) Decreases in restricted cash 2,947 3,492 — — 6,439 Advances to/from subsidiaries (20,019 ) — 10 20,009 — Net cash (used in) provided by investing activities (20,496 ) (6,207 ) 10 20,009 (6,684 ) Cash flows from financing activities: Repayment of debt (253,000 ) (3,207 ) — — (256,207 ) Proceeds from issuance of new debt 250,000 — — — 250,000 Repayment of borrowings from credit facility (25,000 ) — — — (25,000 ) Borrowings from credit facility 25,000 — — — 25,000 Debt issuance costs (4,721 ) — — — (4,721 ) Advances to/from subsidiaries — 20,747 — (20,747 ) — Other financing activities (388 ) — — — (388 ) Net cash used in financing activities (8,109 ) 17,540 — (20,747 ) (11,316 ) Decrease in cash and cash equivalents (73,359 ) (15,910 ) (55 ) (738 ) (90,062 ) 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 $ 142,287 $ 956 $ 804 $ (5,238 ) $ 138,809 Beazer Homes Guarantor Non-Guarantor Consolidating Consolidated Six Months Ended March 31, 2016 Net cash used in operating activities $ (32,839 ) $ (26,968 ) $ (78 ) $ — $ (59,885 ) Cash flows from investing activities: Capital expenditures — (6,017 ) — — (6,017 ) Proceeds from sale of fixed assets — 2,471 — — 2,471 Investments in unconsolidated entities — (2,787 ) — — (2,787 ) Return of capital from unconsolidated entities — 1,141 — — 1,141 Increases in restricted cash (656 ) (1,114 ) — — (1,770 ) Decreases in restricted cash 22,368 1,024 — — 23,392 Advances to/from subsidiaries (17,322 ) — — 17,322 — Net cash provided by (used in) investing activities 4,390 (5,282 ) — 17,322 16,430 Cash flows from financing activities: Repayment of debt (203,679 ) (4,542 ) — — (208,221 ) Proceeds from issuance of new debt 137,900 — — — 137,900 Borrowings from credit facility 25,000 — — — 25,000 Repayment of borrowings from credit facility (25,000 ) — — — (25,000 ) Debt issuance costs (2,451 ) — — — (2,451 ) Advances to/from subsidiaries — 20,888 12 (20,900 ) — Other financing activities (423 ) — — — (423 ) Net cash (used in) provided by financing activities (68,653 ) 16,346 12 (20,900 ) (73,195 ) Decrease in cash and cash equivalents (97,102 ) (15,904 ) (66 ) (3,578 ) (116,650 ) 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 $ 135,124 $ 5,639 $ 940 $ (6,770 ) $ 134,933

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Mar. 31, 2017
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 Six Months Ended March 31, March 31, (In thousands) 2017 2016 2017 2016 Total revenue $ — $ — $ — $ — Home construction and land sales expenses 6 (56 ) 84 252 Gross profit (loss) (6 ) 56 (84 ) (252 ) General and administrative expenses 60 (55 ) 91 (53 ) Operating income (loss) (66 ) 111 (175 ) (199 ) Other expense, net (3 ) — (3 ) — Income (loss) from discontinued operations before income taxes (69 ) 111 (178 ) (199 ) Expense (benefit) from income taxes (29 ) 33 (68 ) (77 ) Income (loss) from discontinued operations, net of tax $ (40 ) $ 78 $ (110 ) $ (122 )

Description of Business (Detail

Description of Business (Details)	Mar. 31, 2017segmentstate
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	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Supplemental disclosure of non-cash activity:
Non-cash land acquisitions	$ 5,197	$ 8,265
Land acquisitions for debt	6,304	0
Supplemental disclosure of cash activity:
Interest payments	50,153	60,998
Income tax payments	91	471
Tax refunds received	$ 3	$ 67

Investments in Unconsolidated38

Investments in Unconsolidated Entities - Outstanding Borrowings of Unconsolidated Entities and Equity in Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 6,112		$ 6,112		$ 10,470
Equity in income (loss) of unconsolidated entities	33	$ (51)	55	$ 9
Unconsolidated Entities
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	6,112		6,112		10,470
Total equity of unconsolidated entities	15,725		15,725		31,615
Total outstanding borrowings of unconsolidated entities	$ 17,568		$ 17,568		$ 14,702

Investments in Unconsolidated39

Investments in Unconsolidated Entities - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Impairment of unconsolidated entity investments	$ 0	$ 0	$ 0	$ 0
Financial Guarantee
Schedule of Equity Method Investments [Line Items]
Outstanding guarantees					$ 0
Unconsolidated Entities | Financial Guarantee
Schedule of Equity Method Investments [Line Items]
Outstanding guarantees	$ 0		$ 0

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015
Inventory Disclosure [Abstract]
Homes under construction	$ 462,017		$ 377,191
Development projects in progress	772,664		742,417
Land held for future development	152,724		213,006
Land held for sale	25,585		29,696
Capitalized interest	146,916	$ 144,299	138,108	$ 140,139	$ 132,462	$ 123,457
Model homes	71,166		68,861
Total owned inventory	$ 1,631,072		$ 1,569,279

Inventory - Narrative (Details)

Inventory - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2016propertyCommunity	Mar. 31, 2017USD ($)homeCommunity	Mar. 31, 2016propertyCommunity	Sep. 30, 2016USD ($)home	Mar. 31, 2016Community
Inventory Disclosure [Abstract]
Number of substantially completed homes unsold | home		119		178
Total value of substantially completed homes | $		$ 34.7		$ 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	9	6	9		2
Number of communities requiring further analysis	2	0	2
Number of communities impaired	1		1
West Segment
Real Estate Properties [Line Items]
Number of communities on watch list		5
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	Mar. 31, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Projects in Progress	$ 1,452,763	$ 1,326,577
Land held for future development	152,724	213,006
Land held for sale	25,585	29,696
Total owned inventory	1,631,072	1,569,279
Corporate and unallocated
Segment Reporting Information [Line Items]
Projects in Progress	199,195	186,987
Land held for future development	0	0
Land held for sale	1,102	1,099
Total owned inventory	200,297	188,086
West Segment | Operating Segments
Segment Reporting Information [Line Items]
Projects in Progress	647,239	586,420
Land held for future development	128,132	172,015
Land held for sale	8,144	6,577
Total owned inventory	783,515	765,012
East Segment | Operating Segments
Segment Reporting Information [Line Items]
Projects in Progress	297,967	276,785
Land held for future development	13,649	30,036
Land held for sale	15,129	20,930
Total owned inventory	326,745	327,751
Southeast Segment | Operating Segments
Segment Reporting Information [Line Items]
Projects in Progress	308,362	276,385
Land held for future development	10,943	10,955
Land held for sale	1,210	1,090
Total owned inventory	$ 320,515	$ 288,430

Inventory - Recoverability Sche

Inventory - Recoverability Schedule of Inventory Assets Held for Development, by Reportable Segment (Details) $ in Thousands	Mar. 31, 2017Community	Mar. 31, 2016property	Mar. 31, 2016Community	Mar. 31, 2016	Mar. 31, 2016USD ($)
Real Estate Properties [Line Items]
Number of Communities on Watch List	6	9	2
Undiscounted Cash Flow Analyses Prepared, Number of Communities	0	2
Undiscounted Cash Flow Analyses Prepared, Pre-analysis Book Value (BV) | $					$ 21,914
Corporate and unallocated
Real Estate Properties [Line Items]
Number of Communities on Watch List | property		0
Undiscounted Cash Flow Analyses Prepared, Number of Communities | property		0
Undiscounted Cash Flow Analyses Prepared, Pre-analysis Book Value (BV) | $					1,105
West Segment
Real Estate Properties [Line Items]
Number of Communities on Watch List | Community	5
West Segment | Operating Segments
Real Estate Properties [Line Items]
Number of Communities on Watch List | Community			8
Undiscounted Cash Flow Analyses Prepared, Number of Communities | Community			2
Undiscounted Cash Flow Analyses Prepared, Pre-analysis Book Value (BV) | $					20,809
Undiscounted Cash Flow Analyses Prepared, Aggregate Undiscounted Cash Flow as a Percentage of Book Value				108.00%
East Segment
Real Estate Properties [Line Items]
Number of Communities on Watch List | Community	1
East Segment | Operating Segments
Real Estate Properties [Line Items]
Number of Communities on Watch List | property		1
Undiscounted Cash Flow Analyses Prepared, Number of Communities | property		0
Undiscounted Cash Flow Analyses Prepared, Pre-analysis Book Value (BV) | $					$ 0
Undiscounted Cash Flow Analyses Prepared, Aggregate Undiscounted Cash Flow as a Percentage of Book Value				0.00%

Inventory - Schedule of Discoun

Inventory - Schedule of Discounted Cash Flow Analysis (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2016USD ($)lotCommunity	Mar. 31, 2016USD ($)lotCommunity
Real Estate, Write-down or Reserve [Line Items]
Number of Communities Impaired | Community	1	1
Discounted Cash Flow Analyses, Number of Lots Impaired | lot	34	34
Inventory Impairment, Results of Discounted Cash Flow Analysis	$ 1,825	$ 1,825
Estimated Fair Value of Impaired Inventory	$ 5,518	$ 5,518
Continuing Operations | Corporate and unallocated
Real Estate, Write-down or Reserve [Line Items]
Number of Communities Impaired | Community	0	0
Discounted Cash Flow Analyses, Number of Lots Impaired | lot	0	0
Inventory Impairment, Results of Discounted Cash Flow Analysis	$ 312	$ 312
Estimated Fair Value of Impaired Inventory	$ 0	$ 0
Continuing Operations | West Segment
Real Estate, Write-down or Reserve [Line Items]
Number of Communities Impaired | Community	1
Discounted Cash Flow Analyses, Number of Lots Impaired | lot	34
Inventory Impairment, Results of Discounted Cash Flow Analysis	$ 1,513
Estimated Fair Value of Impaired Inventory	$ 5,518
Continuing Operations | West Segment | Operating Segments
Real Estate, Write-down or Reserve [Line Items]
Number of Communities Impaired | Community		1
Discounted Cash Flow Analyses, Number of Lots Impaired | lot		34
Inventory Impairment, Results of Discounted Cash Flow Analysis		$ 1,513
Estimated Fair Value of Impaired Inventory		$ 5,518

Inventory - Quantitative unobse

Inventory - Quantitative unobservable inputs for inventory impairment (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2016USD ($)home	Mar. 31, 2016USD ($)home
Inventory Disclosure [Abstract]
Unobservable Inputs, Average Selling Price | $	$ 409	$ 409
Unobservable Inputs, Closings per Community per Month | home	2	2
Unobservable Inputs, Discount Rate	15.33%	15.33%

Inventory - Impairments and Lot

Inventory - Impairments and Lot Option Abandonment Charges, by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Real Estate, Write-down or Reserve [Line Items]
Impairment of Inventory, Projects in Progress	$ 0	$ 1,825	$ 0	$ 1,825
Impairment of inventory, land held for sale	94	0	94	568
Abandonments	188	0	188	788
Total impairment and abandonment charges	282	1,825	282	3,181
West Segment
Real Estate, Write-down or Reserve [Line Items]
Impairment of Inventory, Projects in Progress	0	1,513	0	1,513
Impairment of inventory, land held for sale	94	0	94	0
East Segment
Real Estate, Write-down or Reserve [Line Items]
Impairment of inventory, land held for sale	0	0	0	197
Abandonments	188	0	188	0
Southeast Segment
Real Estate, Write-down or Reserve [Line Items]
Impairment of inventory, land held for sale	0	0	0	371
Abandonments	0	0	0	788
Corporate and unallocated
Real Estate, Write-down or Reserve [Line Items]
Impairment of Inventory, Projects in Progress	$ 0	$ 312	$ 0	$ 312

Inventory - Summary of Interest

Inventory - Summary of Interests in Lot Option Agreements (Details) - Unconsolidated lot option agreements - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Real Estate Properties [Line Items]
Deposits & Non-refundable Pre-acquisition Costs Incurred	$ 92,227	$ 80,433
Remaining Obligation	$ 435,606	$ 446,414

Interest - Schedule of Capitali

Interest - Schedule of Capitalized Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in inventory, beginning of period	$ 144,299	$ 132,462	$ 138,108	$ 123,457
Interest incurred	26,482	30,467	53,569	60,555
Capitalized interest impaired	0	84	0	84
Interest expense not qualified for capitalization and included as other expense	(4,046)	(6,633)	(9,298)	(14,065)
Capitalized interest amortized to home construction and land sales expenses	(19,819)	(16,073)	(35,463)	(29,724)
Capitalized interest in inventory, end of period	$ 146,916	$ 140,139	$ 146,916	$ 140,139

Borrowings - Schedule of Long-t

Borrowings - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016	Jul. 30, 2016
Debt Instrument [Line Items]
Unamortized debt premium, net	$ (3,799)	$ (1,482)
Debt issuance costs	15,709	15,514
Total debt, net	1,334,362	1,331,878
5 3/4% Senior Notes Maturing June 2019
Debt Instrument [Line Items]
Total debt, net	321,393
Senior Notes
Debt Instrument [Line Items]
Unamortized debt premium, net	(3,799)	(2,362)
Debt issuance costs	16,478	14,063
Total debt, net	$ 1,258,548	$ 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
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	$ 0	$ 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
Senior Notes | 6 3/4% Senior Notes Maturing March 2025
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	6.75%	6.75%
Total debt, net	$ 250,000	$ 0
Term Loan
Debt Instrument [Line Items]
Total debt, net	0	52,669
Junior Subordinated Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)			7.987%
Total debt, net	60,903	59,870
Other Secured Notes payable
Debt Instrument [Line Items]
Total debt, net	$ 14,911	$ 11,813

Borrowings - Narrative (Details

Borrowings - Narrative (Details)	3 Months Ended			6 Months Ended
	Mar. 31, 2017USD ($)lender	Sep. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)lender	Mar. 31, 2016USD ($)	Jul. 30, 2016	Jan. 31, 2010USD ($)
Line of Credit Facility [Abstract]
Amount of available borrowings under the Secured Revolving Credit Facility	$ 140,700,000	$ 106,800,000		$ 140,700,000
Senior Notes [Abstract]
Loss on extinguishment of debt	15,563,000		$ 1,631,000	15,563,000	$ 2,459,000
Secured Debt [Abstract]
Total debt, net	1,334,362,000	1,331,878,000		1,334,362,000
5 3/4% Senior Notes Maturing June 2019
Secured Debt [Abstract]
Total debt, net	321,393,000			321,393,000
Senior Notes
Secured Debt [Abstract]
Total debt, net	$ 1,258,548,000	$ 1,207,526,000		$ 1,258,548,000
Senior Notes | 6 3/4% Senior Notes Maturing March 2025
Debt Instrument [Line Items]
Debt Instrument, Percentage of Debt Outstanding after Repurchase	35.00%			35.00%
Other Long-term Debt [Abstract]
Stated interest rate on debt instrument (percent)	6.75%	6.75%		6.75%
Junior Subordinated Notes [Abstract]
Stated interest rate on debt instrument (percent)	6.75%	6.75%		6.75%
Aggregate principal amount of debt	$ 250,000,000			$ 250,000,000
Secured Debt [Abstract]
Total debt, net	$ 250,000,000	$ 0		$ 250,000,000
Debt Instrument, Repurchase Price upon Change of Control, Percent of Par	101.00%			101.00%
Senior Notes | 9 1/8% Senior Notes Maturing May 2019 [Member]
Senior Notes [Abstract]
Call price and make-whole premiums provided for by 2018 Notes			9,800,000
Senior Notes | 5 3/4% Senior Notes Maturing June 2019
Senior Notes [Abstract]
Call price and make-whole premiums provided for by 2018 Notes			$ 600,000
Other Long-term Debt [Abstract]
Stated interest rate on debt instrument (percent)	5.75%	5.75%		5.75%
Junior Subordinated Notes [Abstract]
Stated interest rate on debt instrument (percent)	5.75%	5.75%		5.75%
Secured Debt [Abstract]
Total debt, net		$ 321,393,000
Term Loan
Senior Notes [Abstract]
Call price and make-whole premiums provided for by 2018 Notes	$ 55,000,000
Other Long-term Debt [Abstract]
Debt instrument term	2 years
Junior Subordinated Notes [Abstract]
Aggregate principal amount of debt	$ 140,000,000			$ 140,000,000
Unamortized accretion	0	800,000		0
Debt Issuance Costs, Net	0	1,451,000		0
Secured Debt [Abstract]
Total debt, net	0	$ 52,669,000		0
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	39,870,000	$ 40,903,000		39,870,000
Secured Debt [Abstract]
Total debt, net	$ 60,903,000	59,870,000		$ 60,903,000
Weighted average fixed interest rate of debt (percent)	4.25%			4.25%
Other secured notes payable
Secured Debt [Abstract]
Total debt, net	$ 14,911,000	11,813,000		$ 14,911,000
Weighted average fixed interest rate of debt (percent)	3.32%			3.32%
Revolving Credit Facility
Line of Credit Facility [Abstract]
Credit facility borrowing capacity	$ 180,000,000	145,000,000		$ 180,000,000
Inventory assets pledged as collateral	$ 800,000,000	1,000,000,000		$ 800,000,000
Number of lenders | lender	3			3
Borrowings outstanding under facility	$ 0	0		$ 0
Letters of credit secured using cash collateral	$ 39,300,000	$ 38,200,000		$ 39,300,000
Revolving Credit Facility | Maximum
Line of Credit Facility [Abstract]
Aggregate collateral ratio	4	5		4
Revolving Credit Facility | Minimum
Line of Credit Facility [Abstract]
Aggregate collateral ratio	1	1		1
Letter of Credit, Cash Secured
Line of Credit Facility [Abstract]
Letters of credit secured using cash collateral	$ 13,100,000	$ 12,100,000		$ 13,100,000
Optional Redemption Under Indenture | Senior Notes | 6 3/4% Senior Notes Maturing March 2025
Debt Instrument [Line Items]
Debt Instrument, Percentage of Debt Outstanding after Repurchase	65.00%			65.00%
Debt Instrument, Redemption Option, Percent of Par	106.75%			106.75%

Borrowings - Debt Redemption (D

Borrowings - Debt Redemption (Details) - Senior Notes	6 Months Ended
	Mar. 31, 2017	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%
6 3/4% Senior Notes Maturing March 2025
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	6.75%	6.75%
6 3/4% Senior Notes Maturing March 2025 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%
6 3/4% Senior Notes Maturing March 2025 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	105.063%
6 3/4% Senior Notes Maturing March 2025 | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	103.375%
6 3/4% Senior Notes Maturing March 2025 | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	101.688%
6 3/4% Senior Notes Maturing March 2025 | Debt Instrument, Redemption, Period Five [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%

Contingencies - Warranty (Detai

Contingencies - Warranty (Details) $ in Thousands	3 Months Ended		6 Months Ended		30 Months Ended
	Mar. 31, 2017USD ($)home	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)home	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)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	$ 32,309	$ 28,913	$ 39,131	$ 27,681
Accruals for warranties issued	3,249	3,086	5,907	5,701
Changes in liability related to warranties existing in prior periods	2,463	20,053	7,855	30,653
Payments made	(12,635)	(11,149)	(27,507)	(23,132)
Balance at end of period	25,386	40,903	25,386	40,903	$ 25,386
Insurance recoveries	2,300	19,800	6,200	36,200
Excess insurance recovery		3,600		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	11,400		11,400		11,400
Product warranty expense	$ 1,500	$ 19,600	$ 6,100	$ 28,600	$ 84,700
Homes likely to require more than minor repairs | home	705		705		705
Movement on number of homes likely to be repaired | home			15
Homes have been repaired | home	550		550		550
Product warranty accrual, payments	$ 7,300		$ 17,300
Estimated remaining warranty costs	$ 4,100		$ 4,100		$ 4,100

Contingencies - Litigation and

Contingencies - Litigation and Other Matters (Details) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2017	Sep. 30, 2016
Loss Contingencies [Line Items]
Estimated Litigation Liability			$ 0
DPA And HUD
Loss Contingencies [Line Items]
Loss contingency accrual provision	$ 1,100,000	$ 2,300,000
Legal Reserve
Loss Contingencies [Line Items]
Accrued amounts for litigation and other contingent liabilities			4,000,000	$ 10,200,000
Performance Bonds
Loss Contingencies [Line Items]
Letters of credit secured using cash collateral			52,400,000
Outstanding performance bonds			$ 210,500,000

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Assets Measured on a Non-recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	$ 1,080	$ 765	$ 804
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	1,080	765	804
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]
Development projects in progress			5,518
Land held for sale	325		16,213
Fair Value, Measurements, Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress			0
Land held for sale	0		0
Fair Value, Measurements, Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress			0
Land held for sale	0		0
Fair Value, Measurements, Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress			5,518
Land held for sale	$ 325		$ 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	Mar. 31, 2017	Sep. 30, 2016
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 1,319,451	$ 1,320,065
Carrying Amount | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	1,258,548	1,207,526
Carrying Amount | Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable		52,669
Carrying Amount | Junior Subordinated Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	60,903	59,870
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	1,398,927	1,366,153
Fair Value | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	1,338,024	1,253,614
Fair Value | Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable		52,669
Fair Value | Junior Subordinated Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 60,903	$ 59,870

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income tax benefit, including discontinued operations	$ 4,500		$ 7,100
Benefit from income taxes	4,464	$ 3,898	7,004	$ 3,282
Tax credit			1,300	$ 1,400
Valuation allowance	$ 66,300		$ 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		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Before tax stock-based compensation expense	$ 2,341	$ 2,031	$ 4,517	$ 3,788
Tax benefit	(833)	(991)	(1,607)	(1,848)
After tax stock-based compensation expense	1,508	1,040	2,910	1,940
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Before tax stock-based compensation expense	55	102	162	250
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Before tax stock-based compensation expense	$ 2,286	$ 1,929	$ 4,355	$ 3,538

- Narrative (Details)

- Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares surrendered by employees (shares)		30,018	14,673
Payments related to tax withholding for share-based compensation		$ 387,000	$ 137,000
2017 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period		3 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock options outstanding	$ 465,909	$ 465,909
Aggregate intrinsic value of exercisable stock options	447,547	447,547
Intrinsic value of options exercisable	$ 140,433	$ 140,433
Unrecognized compensation costs related to non-vested stock options award				$ 400,000
Weighted average period to recognize remaining cost		1 year 9 months 29 days
Granted (shares)	2,300	29,410
Award vesting period		3 years
Expected dividends		0.00%
Risk free interest rate		1.85%
Employee purchase plan (EOP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		2 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
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		1 year 10 months
Unrecognized compensation costs related to non-vested stock awards	$ 13,500,000	$ 13,500,000		$ 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 - S59

Stock-based Compensation - Schedule of Share-based Payment Arrangement, Stock Options, Valuation (Details) - Stock Options	6 Months Ended
	Mar. 31, 2017$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options	5 years 4 months 17 days
Expected volatility	50.10%
Expected dividends	0.00%
Weighted average risk-free interest rate	1.85%
Weighted average grant date fair value (in dollars per share)	$ 5.83

Stock-based Compensation - Sto

Stock-based Compensation - Stock Options Outstanding (Details) - Stock Options	3 Months Ended	6 Months Ended
	Mar. 31, 2017$ / sharesshares	Mar. 31, 2017$ / sharesshares
Shares
Outstanding at beginning of period (shares) | shares	698,445	672,669
Granted (shares) | shares	2,300	29,410
Forfeited (shares) | shares	(12,570)	(13,904)
Outstanding at end of period (shares) | shares	688,175	688,175
Exercisable at end of period (shares) | shares	563,943	563,943
Vested or expected to vest in the future (shares) | shares	684,250	684,250
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 16.35	$ 16.49
Granted (in dollars per share) | $ / shares	12.24	12.50
Forfeited (in dollars per share) | $ / shares	13.39	12.91
Outstanding at end of period (in dollars per share) | $ / shares	16.39	16.39
Exercisable at end of period (in dollars per share) | $ / shares	17.82	17.82
Vested or expected to vest in the future (in dollars per share) | $ / shares	$ 16.44	$ 16.44

Stock-based Compensation - Non

Stock-based Compensation - Nonvested Stock Awards (Details) - $ / shares	3 Months Ended	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2017
Restricted Stock
Shares
Beginning of period	1,576,495	1,255,817
Granted		533,098
Vested		(183,730)
Forfeited	(1,093)	(29,783)
End of period	1,575,402	1,575,402
Weighted Average Grant Date Fair Value
Beginning of period (in dollars per share)	$ 16.12	$ 17.23
Granted (in dollars per share)		13.05
Vested (in dollars per share)		15.49
Forfeited (in dollars per share)	19.07	11.92
End of period (in dollars per share)	$ 16.12	$ 16.12
Performance-Based Restricted Stock Awards
Shares
Beginning of period	683,699	448,693
Granted		263,696
Vested		0
Forfeited	0	(28,690)
End of period	683,699	683,699
Weighted Average Grant Date Fair Value
Beginning of period (in dollars per share)	$ 15.72	$ 16.71
Granted (in dollars per share)		13.60
Vested (in dollars per share)		0
Forfeited (in dollars per share)	0	11.65
End of period (in dollars per share)	$ 15.72	$ 15.72
Time Based Restricted Stock Awards
Shares
Beginning of period	892,796	807,124
Granted		269,402
Vested		(183,730)
Forfeited	(1,093)	(1,093)
End of period	891,703	891,703
Weighted Average Grant Date Fair Value
Beginning of period (in dollars per share)	$ 16.43	$ 17.52
Granted (in dollars per share)		12.51
Vested (in dollars per share)		15.49
Forfeited (in dollars per share)	19.07	19.07
End of period (in dollars per share)	$ 16.43	$ 16.43

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Nonvested Stock Awards
Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (shares)	1.6	2	1.6	1.9

Earnings Per Share - Diluted Sh

Earnings Per Share - Diluted Shares Calculation (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Basic and diluted (shares)	31,969	31,808	31,931	31,783

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015
Other Liabilities Disclosure [Abstract]
Accrued warranty expense	$ 25,386	$ 32,309	$ 39,131	$ 40,903	$ 28,913	$ 27,681
Accrued bonuses and deferred compensation	17,497		30,466
Customer deposits	14,579		12,140
Accrued interest	11,664		11,530
Litigation accrual	3,992		10,178
Income tax liabilities	1,897		1,718
Other	27,512		29,090
Total other liabilities	$ 102,527		$ 134,253

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017USD ($)segmentstate	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)segmentstateregion	Mar. 31, 2016USD ($)	Sep. 30, 2016USD ($)
Segment Reporting [Abstract]
Number of states in which home building segments operate | state	13		13
Number of regions in which entity operates | segment	3		3
Number of homebuilding segments | region			3
Segment Reporting Information [Line Items]
Revenue	$ 425,468	$ 385,607	$ 764,709	$ 730,056
Operating income	7,511	3,030	8,786	12,178
Depreciation and amortization	3,155	3,056	5,832	6,047
Write-off of deposit on legacy land investment			2,700	0
Excess insurance recovery		3,600		3,600
Capital Expenditures			5,677	6,017
Total capital expenditures			5,677	6,017
Assets	2,175,201		2,175,201		$ 2,213,158
Operating Segments
Segment Reporting Information [Line Items]
Operating income	43,885	34,998	71,472	66,588
Depreciation and amortization	2,799	2,513	5,042	4,977
Corporate and unallocated
Segment Reporting Information [Line Items]
Operating income	(36,374)	(31,968)	(62,686)	(54,410)
Depreciation and amortization	356	543	790	1,070
Capital Expenditures			191	216
Assets	689,686		689,686		756,238
West Segment
Segment Reporting Information [Line Items]
Revenue	185,155	179,930	356,904	337,126
West Segment | Operating Segments
Segment Reporting Information [Line Items]
Operating income	20,779	18,927	41,794	35,713
Depreciation and amortization	1,545	1,332	2,793	2,550
Capital Expenditures			3,165	2,906
Assets	807,218		807,218		778,521
East Segment
Segment Reporting Information [Line Items]
Revenue	116,640	106,835	200,799	207,392
East Segment | Operating Segments
Segment Reporting Information [Line Items]
Operating income	10,532	8,333	12,089	12,480
Depreciation and amortization	598	634	1,127	1,431
Capital Expenditures			1,446	1,273
Assets	335,172		335,172		344,898
Southeast Segment
Segment Reporting Information [Line Items]
Revenue	123,673	98,842	207,006	185,538
Southeast Segment | Operating Segments
Segment Reporting Information [Line Items]
Operating income	12,574	7,738	17,589	18,395
Depreciation and amortization	656	$ 547	1,122	996
Capital Expenditures			875	$ 1,622
Assets	$ 343,125		$ 343,125		$ 333,501

Supplemental Guarantor Inform66

Supplemental Guarantor Information - Unaudited Condensed Consolidating Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
ASSETS
Cash and cash equivalents	$ 138,809	$ 228,871	$ 134,933	$ 251,583
Restricted cash	14,696	14,405
Accounts receivable (net of allowance of $193 and $354, respectively)	43,781	53,226
Income tax receivable	288	292
Owned inventory	1,631,072	1,569,279
Investments in unconsolidated entities	6,112	10,470
Deferred tax assets, net	317,296	309,955
Property and equipment, net	18,981	19,138
Investments in subsidiaries	0	0
Intercompany	0	0
Other assets	4,166	7,522
Total assets	2,175,201	2,213,158
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	100,290	104,174
Other liabilities	102,527	134,253
Intercompany	0	0
Total debt (net of premium of $3,799 and $1,482, respectively, and debt issuance costs of $15,709 and $15,514, respectively)	1,334,362	1,331,878
Total liabilities	1,537,179	1,570,305
Stockholders’ equity	638,022	642,853
Total liabilities and stockholders’ equity	2,175,201	2,213,158
Consolidating Adjustments
ASSETS
Cash and cash equivalents	(5,238)	(4,500)	(6,770)	(3,192)
Restricted cash	0	0
Accounts receivable (net of allowance of $193 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	(731,043)	(701,931)
Intercompany	(768,511)	(737,340)
Other assets	0	0
Total assets	(1,504,792)	(1,443,771)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	0	0
Intercompany	(773,749)	(741,840)
Total debt (net of premium of $3,799 and $1,482, respectively, and debt issuance costs of $15,709 and $15,514, respectively)	0	0
Total liabilities	(773,749)	(741,840)
Stockholders’ equity	(731,043)	(701,931)
Total liabilities and stockholders’ equity	(1,504,792)	(1,443,771)
Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	142,287	215,646	135,124	232,226
Restricted cash	13,344	12,867
Accounts receivable (net of allowance of $193 and $354, respectively)	0	0
Income tax receivable	288	292
Owned inventory	0	0
Investments in unconsolidated entities	773	773
Deferred tax assets, net	317,296	309,955
Property and equipment, net	0	0
Investments in subsidiaries	731,043	701,931
Intercompany	766,146	734,766
Other assets	769	577
Total assets	1,971,946	1,976,807
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	12,107	11,315
Intercompany	2,365	2,574
Total debt (net of premium of $3,799 and $1,482, respectively, and debt issuance costs of $15,709 and $15,514, respectively)	1,319,452	1,320,065
Total liabilities	1,333,924	1,333,954
Stockholders’ equity	638,022	642,853
Total liabilities and stockholders’ equity	1,971,946	1,976,807
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	956	16,866	5,639	21,543
Restricted cash	1,352	1,538
Accounts receivable (net of allowance of $193 and $354, respectively)	43,778	53,225
Income tax receivable	0	0
Owned inventory	1,631,072	1,569,279
Investments in unconsolidated entities	5,339	9,697
Deferred tax assets, net	0	0
Property and equipment, net	18,981	19,138
Investments in subsidiaries	0	0
Intercompany	0	0
Other assets	3,383	6,930
Total assets	1,704,861	1,676,673
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	100,290	104,174
Other liabilities	90,096	122,561
Intercompany	771,384	739,266
Total debt (net of premium of $3,799 and $1,482, respectively, and debt issuance costs of $15,709 and $15,514, respectively)	14,910	11,813
Total liabilities	976,680	977,814
Stockholders’ equity	728,181	698,859
Total liabilities and stockholders’ equity	1,704,861	1,676,673
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	804	859	$ 940	$ 1,006
Restricted cash	0	0
Accounts receivable (net of allowance of $193 and $354, respectively)	3	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	2,365	2,574
Other assets	14	15
Total assets	3,186	3,449
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	324	377
Intercompany	0	0
Total debt (net of premium of $3,799 and $1,482, respectively, and debt issuance costs of $15,709 and $15,514, respectively)	0	0
Total liabilities	324	377
Stockholders’ equity	2,862	3,072
Total liabilities and stockholders’ equity	$ 3,186	$ 3,449

Supplemental Guarantor Inform67

Supplemental Guarantor Information - Unaudited Consolidating Statements of Income (Loss) and Unaudited Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Total revenue	$ 425,468	$ 385,607	$ 764,709	$ 730,056
Home construction and land sales expenses	357,788	324,216	643,366	609,727
Inventory impairments and abandonments	282	1,825	282	3,181
Gross profit	67,398	59,566	121,061	117,148
Commissions	16,632	14,582	29,955	28,356
General and administrative expenses	40,100	38,898	76,488	70,567
Depreciation and amortization	3,155	3,056	5,832	6,047
Operating income	7,511	3,030	8,786	12,178
Equity in income (loss) of unconsolidated entities	33	(51)	55	9
Loss on extinguishment of debt	(15,563)	(1,631)	(15,563)	(2,459)
Other (expense) income, net	(3,940)	(6,558)	(9,136)	(13,123)
Income (loss) before income taxes	(11,959)	(5,210)	(15,858)	(3,395)
Expense (benefit) from income taxes	(4,464)	(3,898)	(7,004)	(3,282)
Equity in income of subsidiaries	0	0	0	0
Loss from continuing operations	(7,495)	(1,312)	(8,854)	(113)
Income (loss) from discontinued operations, net of tax	(40)	78	(110)	(122)
Equity in loss of subsidiaries from discontinued operations	0	0	0	0
Net loss and comprehensive loss	(7,535)	(1,234)	(8,964)	(235)
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Total revenue	(24)	(28)	(60)	(101)
Home construction and land sales expenses	(24)	(28)	(60)	(101)
Inventory impairments and abandonments	0	0	0	0
Gross profit	0	0	0	0
Commissions	0	0	0	0
General and administrative expenses	0		0	0
Depreciation and amortization	0	0	0	0
Operating income	0	0	0	0
Equity in income (loss) of unconsolidated entities	0	0	0	0
Loss on extinguishment of debt	0	0	0	0
Other (expense) income, net	0	0	0	0
Income (loss) before income taxes	0	0	0	0
Expense (benefit) from income taxes	0	0	0	0
Equity in income of subsidiaries	(17,455)	(11,192)	(29,422)	(23,875)
Loss from continuing operations	(17,455)	(11,192)	(29,422)	(23,875)
Income (loss) from discontinued operations, net of tax	0	0	0	0
Equity in loss of subsidiaries from discontinued operations	40	(78)	110	122
Net loss and comprehensive loss	(17,415)	(11,270)	(29,312)	(23,753)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Total revenue	0	0	0	0
Home construction and land sales expenses	19,819	16,073	35,463	29,440
Inventory impairments and abandonments	0	84	0	84
Gross profit	(19,819)	(16,157)	(35,463)	(29,524)
Commissions	0	0	0	0
General and administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Operating income	(19,819)	(16,157)	(35,463)	(29,524)
Equity in income (loss) of unconsolidated entities	0	0	0	0
Loss on extinguishment of debt	(15,563)	(1,631)	(15,563)	(2,459)
Other (expense) income, net	(4,046)	(6,633)	(9,298)	(14,065)
Income (loss) before income taxes	(39,428)	(24,421)	(60,324)	(46,048)
Expense (benefit) from income taxes	(14,478)	(11,917)	(22,048)	(22,060)
Equity in income of subsidiaries	17,455	11,192	29,422	23,875
Loss from continuing operations	(7,495)	(1,312)	(8,854)	(113)
Income (loss) from discontinued operations, net of tax	0	0	0	0
Equity in loss of subsidiaries from discontinued operations	(40)	78	(110)	(122)
Net loss and comprehensive loss	(7,535)	(1,234)	(8,964)	(235)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue	425,468	385,607	764,709	730,056
Home construction and land sales expenses	337,993	308,171	607,963	580,388
Inventory impairments and abandonments	282	1,741	282	3,097
Gross profit	87,193	75,695	156,464	146,571
Commissions	16,632	14,582	29,955	28,356
General and administrative expenses	40,071	38,867	76,436	70,509
Depreciation and amortization	3,155	3,056	5,832	6,047
Operating income	27,335	19,190	44,241	41,659
Equity in income (loss) of unconsolidated entities	33	(51)	55	9
Loss on extinguishment of debt	0	0	0	0
Other (expense) income, net	114	76	171	944
Income (loss) before income taxes	27,482	19,215	44,467	42,612
Expense (benefit) from income taxes	10,019	8,020	15,044	18,762
Equity in income of subsidiaries	0	0	0	0
Loss from continuing operations	17,463	11,195	29,423	23,850
Income (loss) from discontinued operations, net of tax	(34)	81	(101)	(116)
Equity in loss of subsidiaries from discontinued operations		0	0	0
Net loss and comprehensive loss	17,429	11,276	29,322	23,734
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue	24	28	60	101
Home construction and land sales expenses	0	0	0	0
Inventory impairments and abandonments	0	0	0	0
Gross profit	24	28	60	101
Commissions	0	0	0	0
General and administrative expenses	29	31	52	58
Depreciation and amortization	0	0	0	0
Operating income	(5)	(3)	8	43
Equity in income (loss) of unconsolidated entities	0	0	0	0
Loss on extinguishment of debt	0	0	0	0
Other (expense) income, net	(8)	(1)	(9)	(2)
Income (loss) before income taxes	(13)	(4)	(1)	41
Expense (benefit) from income taxes	(5)	(1)	0	16
Equity in income of subsidiaries	0	0	0	0
Loss from continuing operations	(8)	(3)	(1)	25
Income (loss) from discontinued operations, net of tax	(6)	(3)	(9)	(6)
Equity in loss of subsidiaries from discontinued operations	0	0	0	0
Net loss and comprehensive loss	$ (14)	$ (6)	$ (10)	$ 19

Supplemental Guarantor Inform68

Supplemental Guarantor Information - Unaudited Condensed Consolidating Statements of Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	$ (72,062)	$ (59,885)
Cash flows from investing activities:
Capital expenditures	(5,677)	(6,017)
Proceeds from sale of fixed assets	74	2,471
Investments in unconsolidated entities	(2,411)	(2,787)
Return of capital from unconsolidated entities	1,621	1,141
Increases in restricted cash	(6,730)	(1,770)
Decreases in restricted cash	6,439	23,392
Advances to/from subsidiaries	0	0
Net cash (used in) provided by investing activities	(6,684)	16,430
Cash flows from financing activities:
Repayment of debt	(256,207)	(208,221)
Proceeds from issuance of new debt	250,000	137,900
Borrowings from credit facility	25,000	25,000
Repayment of borrowings from credit facility	25,000	25,000
Debt issuance costs	(4,721)	(2,451)
Advances to/from subsidiaries	0	0
Other financing activities	(388)	(423)
Net cash used in financing activities	(11,316)	(73,195)
Decrease in cash and cash equivalents	(90,062)	(116,650)
Cash and cash equivalents at beginning of period	228,871	251,583
Cash and cash equivalents at end of period	138,809	134,933
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	20,009	17,322
Net cash (used in) provided by investing activities	20,009	17,322
Cash flows from financing activities:
Repayment of debt	0	0
Proceeds from issuance of new debt	0	0
Borrowings from credit facility	0	0
Repayment of borrowings from credit facility	0	0
Debt issuance costs	0	0
Advances to/from subsidiaries	(20,747)	(20,900)
Other financing activities	0	0
Net cash used in financing activities	(20,747)	(20,900)
Decrease in cash and cash equivalents	(738)	(3,578)
Cash and cash equivalents at beginning of period	(4,500)	(3,192)
Cash and cash equivalents at end of period	(5,238)	(6,770)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(44,754)	(32,839)
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	(3,424)	(656)
Decreases in restricted cash	2,947	22,368
Advances to/from subsidiaries	(20,019)	(17,322)
Net cash (used in) provided by investing activities	(20,496)	4,390
Cash flows from financing activities:
Repayment of debt	(253,000)	(203,679)
Proceeds from issuance of new debt	250,000	137,900
Borrowings from credit facility	25,000	25,000
Repayment of borrowings from credit facility	25,000	25,000
Debt issuance costs	(4,721)	(2,451)
Advances to/from subsidiaries	0	0
Other financing activities	(388)	(423)
Net cash used in financing activities	(8,109)	(68,653)
Decrease in cash and cash equivalents	(73,359)	(97,102)
Cash and cash equivalents at beginning of period	215,646	232,226
Cash and cash equivalents at end of period	142,287	135,124
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(27,243)	(26,968)
Cash flows from investing activities:
Capital expenditures	(5,677)	(6,017)
Proceeds from sale of fixed assets	74	2,471
Investments in unconsolidated entities	(2,411)	(2,787)
Return of capital from unconsolidated entities	1,621	1,141
Increases in restricted cash	(3,306)	(1,114)
Decreases in restricted cash	3,492	1,024
Advances to/from subsidiaries	0	0
Net cash (used in) provided by investing activities	(6,207)	(5,282)
Cash flows from financing activities:
Repayment of debt	(3,207)	(4,542)
Proceeds from issuance of new debt	0	0
Borrowings from credit facility	0	0
Repayment of borrowings from credit facility	0	0
Debt issuance costs	0	0
Advances to/from subsidiaries	20,747	20,888
Other financing activities	0	0
Net cash used in financing activities	17,540	16,346
Decrease in cash and cash equivalents	(15,910)	(15,904)
Cash and cash equivalents at beginning of period	16,866	21,543
Cash and cash equivalents at end of period	956	5,639
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(65)	(78)
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	10	0
Net cash (used in) provided by investing activities	10	0
Cash flows from financing activities:
Repayment of debt	0	0
Proceeds from issuance of new debt	0	0
Borrowings from credit facility	0	0
Repayment of borrowings from credit facility	0	0
Debt issuance costs	0	0
Advances to/from subsidiaries	0	12
Other financing activities	0	0
Net cash used in financing activities	0	12
Decrease in cash and cash equivalents	(55)	(66)
Cash and cash equivalents at beginning of period	859	1,006
Cash and cash equivalents at end of period	$ 804	$ 940

Discontinued Operations - Resul

Discontinued Operations - Results of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax	$ (40)	$ 78	$ (110)	$ (122)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenue	0	0	0	0
Home construction and land sales expenses	6	(56)	84	252
Gross profit (loss)	(6)	56	(84)	(252)
General and administrative expenses	60	(55)	91	(53)
Operating income (loss)	(66)	111	(175)	(199)
Other expense, net	(3)	0	(3)	0
Income (loss) from discontinued operations before income taxes	(69)	111	(178)	(199)
Expense (benefit) from income taxes	(29)	33	(68)	(77)
Income (loss) from discontinued operations, net of tax	$ (40)	$ 78	$ (110)	$ (122)