$ 1,005,677

$ 742,405

$ 991,152

Inventory impairments and option contract abandonments

888,379

661,851

857,957

12,210

32,459

49,566

105,088

48,095

83,629

43,585

32,711

43,279

110,051

137,376

141,115

13,510

10,253

12,669

(62,058)

(132,245)

(113,434)

304

560

(8,807)

Loss from continuing operations before income taxes

(45,097)

(2,909)

43,901

Other expense, net

(69,119)

^[1]

(62,224)

^[1]

(69,585)

^[1]

(175,970)

(196,818)

(147,925)

(40,347)

3,366

(118,355)

(135,623)

(200,184)

(29,570)

(9,703)

(4,675)

(4,479)

Basic and Diluted (shares)

$ (145,326)

$ (204,859)

$ (34,049)

Weighted average number of shares:

18,474

14,797

11,960

Basic and diluted loss per share:

Continuing Operations (US$ per share)

$ (7.34)

$ (13.53)

$ (2.47)

Discontinued operations (US$ per share)

$ (0.53)

$ (0.31)

$ (0.38)

Total (US$ per share)

$ (7.87)

$ (13.84)

$ (2.85)

[1]	The fiscal year ended September 30, 2011, includes an $8.3 million benefit related to the cash reimbursements from our former CEO and former CFO in connection with their consent agreements with the Securities and Exchange Commission.

CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
ASSETS
Cash and cash equivalents	$ 487,795	$ 370,403
Restricted cash	253,260	277,058
Accounts receivable (net of allowance of $2,235 and $3,872, respectively)	24,599	28,303
Income tax receivable	6,372	4,823
Inventory
Owned inventory	1,099,132	1,192,380
Land not owned under option agreements	12,420	11,753
Total inventory	1,111,552	1,204,133
Investments in unconsolidated entities	42,078	9,467
Deferred tax assets, net	6,848	2,760
Property, plant and equipment, net	18,974	22,613
Previously owned rental homes, net	0	11,347
Other assets	30,740	46,570
Total assets	1,982,218	1,977,477
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	69,268	72,695
Other liabilities	147,718	212,187
Obligations related to land not owned under option agreements	4,787	5,389
Total debt (net of discounts of $3,082 and $23,243, respectively)	1,498,198	1,488,826
Total liabilities	1,719,971	1,779,097
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, 100,000,000 shares authorized, 24,601,830 and 15,117,679 issued and outstanding, respectively)	25	15
Paid-in capital	833,994	624,811
Accumulated deficit	(571,772)	(426,446)
Total stockholders' equity	262,247	198,380
Total liabilities and stockholders' equity	$ 1,982,218	$ 1,977,477

Condensed Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
ASSETS
Allowances for accounts receivable	$ 2,235	$ 3,872
LIABILITIES AND STOCKHOLDERS’ EQUITY
Discounts on total debt	$ 3,082	$ 23,243
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	180,000,000
Common stock, shares issued	24,601,830	75,588,396
Common stock, shares outstanding	15,117,679	75,588,396

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) In Thousands, except Share data, unless otherwise specified	Total	Common Stock	Paid-in Capital	Accumulated Deficit	Treasury Stock
Stockholders' equity at Sep. 30, 2009	$ 196,555	$ 8	$ 568,054	$ (187,538)	$ (183,969)
Stockholders' equity (shares) at Sep. 30, 2009		7,959,000			3,357,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(34,049)			(34,049)
Amortization of nonvested stock option awards	5,552		5,552
Amortization of stock option awards	5,817		5,817
Tax deficiency from stock transactions	(3,099)		(3,099)
Shares issued under employee stock plans, net (shares)		197,000
Shares issued under employee stock plans, net	2,337	0	2,337
Issuance of prepaid stock purchase contracts	57,429		57,429
Common stock issued (shares)		6,985,000
Common stock issued	166,718	7	166,711
Common stock redeemed (shares)		(7,000)			27,000
Common stock redeemed	(159)		(25)		(134)
Treasury stock utilized (shares)		0			(3,384,000)
Treasury stock utilized	0	0	(184,103)		184,103
Stockholders' equity at Sep. 30, 2010	397,101	15	618,673	(221,587)	0
Stockholders' equity (shares) at Sep. 30, 2010		15,134,000			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(204,859)			(204,859)
Amortization of nonvested stock option awards	3,813		3,813
Amortization of stock option awards	3,357		3,357
Tax deficiency from stock transactions	(523)		(523)
Shares issued under employee stock plans, net (shares)		16,000
Shares issued under employee stock plans, net	101	0	101
Return and retirement of unvested & vested restricted stock (shares)		(22,000)
Return and retirement of unvested & vested restricted stock	(440)		(440)
Common stock redeemed (shares)		(10,000)
Common stock redeemed	(170)		(170)
Stockholders' equity at Sep. 30, 2011	198,380	15	624,811	(426,446)	0
Stockholders' equity (shares) at Sep. 30, 2011		15,118,000			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(145,326)			(145,326)
Tender Offer of Mandatory Convertible & TEU (debt to stock conversion) (shares)		4,969,000
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments	56,675	5	56,670	0	0
Amortization of nonvested stock option awards	2,569		2,569
Amortization of stock option awards	1,459		1,459
Tax deficiency from stock transactions	(85)		(85)
Shares issued under employee stock plans, net (shares)		124,000
Shares issued under employee stock plans, net	0	0	0
Issuance of prepaid stock purchase contracts	88,361		88,361
Common stock issued (shares)		4,400,000
Common stock issued	60,340	5	60,335
Common stock redeemed (shares)		(9,000)
Common stock redeemed	(126)		(126)
Stockholders' equity at Sep. 30, 2012	$ 262,247	$ 25	$ 833,994	$ (571,772)	$ 0
Stockholders' equity (shares) at Sep. 30, 2012		24,602,000			0

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Cash flows from operating activities:
Net loss	$ (145,326)	$ (204,859)	$ (34,049)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	13,545	10,708	13,405
Stock-based compensation expense	4,028	7,170	11,369
Inventory impairments and option contract abandonments	12,789	35,365	51,839
Impairment of future land purchase right	0	5,569	0
Deferred and other income tax (benefit) provision	(38,782)	5,019	(259)
Provision for doubtful accounts	(1,637)	305	(3,978)
Equity in (income) loss of unconsolidated entities	(267)	(42)	24,350
Cash distributions of income from unconsolidated entities	0	450	208
Loss (gain) on extinguishment of debt	45,097	2,343	(44,602)
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable	9,751	4,039	(264)
(Increase) decrease in income tax receivable	(1,549)	2,861	2,238
Decrease (increase) in inventory	92,790	(54,395)	82,504
Decrease in other assets	6,907	5,291	3,835
(Decrease) increase in trade accounts payable	(3,427)	19,277	(16,867)
Decrease in other liabilities	(14,703)	(17,961)	(22,530)
Other changes	(61)	(76)	2,486
Net cash (used in) provided by operating activities	(20,845)	(178,936)	69,685
Cash flows from investing activities:
Capital expenditures	(17,363)	(20,514)	(10,849)
Investments in unconsolidated entities	(2,407)	(1,924)	(5,602)
Return of capital from unconsolidated entities	610	0	0
Increases in restricted cash	(3,260)	(250,839)	(37,439)
Decreases in restricted cash	27,058	12,981	47,700
Net cash provided by (used in) investing activities	4,638	(260,296)	(6,190)
Cash flows from financing activities:
Repayment of debt	(310,387)	(215,376)	(619,806)
Proceeds from issuance of new debt	300,000	246,387	358,700
Proceeds from issuance of cash secured loan	0	247,368	0
Debt issuance costs	(10,845)	(5,172)	(9,234)
Proceeds from issuance of common stock, net	60,340	0	166,718
Proceeds from issuance of TEU prepaid stock purchase contracts, net	88,361	0	57,429
Proceeds from issuance of TEU amortizing notes	23,500		15,738
Proceeds From Issuance of TEU Amortizing Notes	23,500	0	15,738
Settlement of unconsolidated entity debt obligation	(15,862)	0	0
Payments for other financing activities	(1,508)	(693)	(3,258)
Net cash provided by (used in) financing activities	133,599	272,514	(33,713)
Increase (decrease) in cash and cash equivalents	117,392	(166,718)	29,782
Cash and cash equivalents at beginning of period	370,403	537,121	507,339
Cash and cash equivalents at end of period	$ 487,795	$ 370,403	$ 537,121

Summary of Significant Accounting Policies

12 Months Ended

Sep. 30, 2012

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Organization. Beazer Homes USA, Inc. is one of the ten largest homebuilders in the United States, based on number of homes closed. We are a geographically diversified homebuilder with active operations in 16 states: Arizona, California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and Virginia. Through September 30, 2010, we offered title insurance services to our homebuyers in many of our markets. Effective September 30, 2010 we exited the title services business. Over the past few years, we have discontinued homebuilding operations in certain of our markets. Results from our title services business and exit markets are reported as discontinued operations in the accompanying Consolidated Statements of Operations for all periods presented (see Note 16 for further discussion of our Discontinued Operations). We evaluated events that occurred after the balance sheet date but before the financial statements were issued or are available to be issued for accounting treatment and disclosure.

Presentation. The accompanying consolidated financial statements include the accounts of Beazer Homes USA, Inc. and our subsidiaries. Intercompany balances have been eliminated in consolidation. On October 11, 2012, the Company announced the effectiveness of a one-for-five reverse stock split. All share and per share information, including earnings per share, in this Form 10-K have been retroactively adjusted to reflect this reverse stock split and certain items in prior period financial statements have been revised to conform to the current presentation. Our net loss is equivalent to our comprehensive loss so we have not presented a separate statement of comprehensive loss.

Cash and Cash Equivalents and Restricted Cash. We consider investments with maturities of three months or less when purchased to be cash equivalents. At September 30, 2012, the majority of our cash and cash equivalents were invested in high-quality money market mutual funds, highly marketable securities, or on deposit with major banks, which were valued at par with no withdrawal restrictions. The underlying investments of these funds were U.S. Government and U.S. Government Agency obligations or high quality marketable securities. Restricted cash includes cash restricted by state law or a contractual requirement and relates primarily to cash collateral for our cash secured term loan and outstanding letters of credit.

Accounts Receivable. Accounts receivable primarily consist of escrow deposits to be received from title companies associated with closed homes. Generally, we receive cash from title companies within a few days of the home being closed.

Inventory. Owned inventory consists solely of residential real estate developments. Interest, real estate taxes and development costs are capitalized in inventory during the development and construction period. Construction and land costs are comprised of direct and allocated costs, including estimated future costs for warranties and amenities. Land, land improvements and other common costs are typically allocated to individual residential lots on a pro-rata basis, and the costs of residential lots are transferred to construction in progress when home construction begins. Consolidated inventory not owned represents the fair value of land under option agreements of a variable interest entity (VIE) where the Company is deemed to be the primary beneficiary of the VIE. VIEs are entities in which 1) equity investors do not have a controlling financial interest and/or 2) the entity is unable to finance its activities without additional subordinated financial support from other parties. In addition, when our deposits and pre-acquisition development costs exceed certain thresholds, we record the remaining purchase price of the lots as consolidated inventory not owned and obligations related to consolidated inventory not owned in the Consolidated Balance Sheets.

Inventory Valuation - Held for Development. Our homebuilding inventories that are accounted for as held for development include land and home construction assets grouped together as communities. Homebuilding inventories held for development are stated at cost (including direct construction costs, capitalized indirect costs, capitalized interest and real estate taxes) unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. We assess these assets no less than quarterly for recoverability. Generally, upon the commencement of land development activities, it may take three to five years (depending on, among other things, the size of the community and its sales pace) to fully develop, sell, construct and close all the homes in a typical community. However, the impact of the recent downturn in our business has significantly lengthened the estimated life of many communities. Recoverability of assets is measured by comparing the carrying amount of an asset to future undiscounted cash flows expected to be generated by the asset. If the expected undiscounted cash flows generated are expected to be less than its carrying amount, an impairment charge should be recorded to write down the carrying amount of such asset to its estimated fair value based on discounted cash flows.

When conducting our community level review for the recoverability of our homebuilding inventories held for development, we establish a quarterly “watch list” of communities with more than 10 homes remaining that carry profit margins in backlog and in our forecast that are below a minimum threshold of profitability. In our experience, this threshold represents a level of profitability that may be an indicator of conditions which would require an asset impairment but does not guarantee that such impairment will definitively be appropriate. As such, assets on the quarterly watch list are subject to substantial additional financial and operational analyses and review that consider the competitive environment and other factors contributing to profit margins below our watch list threshold. 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.

Our qualitative competitive market analyses include site visits to competitor new home communities and written community level competitive assessments. A competitive assessment consists of a comparison of our specific community with its competitor communities, considering square footage of homes offered, amenities offered within the homes and the communities, location, transportation availability and school districts, among many factors. In addition, we review the pace of monthly home sales of our competitor communities in relation to our specific community. We also review other factors such as the target buyer and the macro-economic characteristics that impact the performance of our assets, such as unemployment and the availability of mortgage financing, among other things. Based on this qualitative competitive market analysis, adjustments to our sales prices may be required in order to make our communities competitive. We incorporate these adjusted prices in our quantitative analysis for the specific community.

The quantitative analysis compares the projected future undiscounted cash flows for each such community with its current carrying value. This undiscounted cash flow analysis requires important assumptions regarding the location and mix of house plans to be sold, current and future home sale prices and incentives for each plan, current and future construction costs for each plan, and the pace of monthly sales to occur today and into the future.

There is uncertainty associated with preparing the undiscounted cash flow analysis because future market conditions will almost certainly be different, either better or worse, than current conditions. The single most important “input” to the cash flow analysis is current and future home sales prices for a specific community. The risk of over or under-stating any of the important cash flow variables, including home prices, is greater with longer-lived communities and within markets that have historically experienced greater home price volatility. In an effort to address these risks, we consider some home price and construction cost appreciation in future years for certain communities that are expected to be selling for more than three years and/or if the market has typically exhibited high levels of price volatility. Absent these assumptions on cost and sales price appreciation, we believe the long-term cash flow analysis would be unrealistic and would serve to artificially improve future profitability. Finally, we also ensure that the monthly sales absorptions, including historical seasonal differences of our communities and those of our competitors, used in our undiscounted cash flow analyses are realistic, consider our development schedules and relate to those achieved by our competitors for the specific communities.

If the aggregate undiscounted cash flows from our quantitative analysis are in excess of the carrying value, the asset is considered to be recoverable and is not impaired. If the aggregate undiscounted cash flows are less than the carrying or book value, we perform a discounted cash flow analysis to determine the fair value of the community. The fair value of the community is estimated using the present value of the estimated future cash flows using discount rates commensurate with the risk associated with the underlying community assets. The discount rate used may be different for each community. The factors considered when determining an appropriate discount rate for a community include, among others: (1) community specific factors such as the number of lots in the community, the status of land development in the community, the competitive factors influencing the sales performance of the community and (2) overall market factors such as employment levels, consumer confidence and the existing supply of new and used homes for sale. If the determined fair value is less than the carrying value of the specific asset, the asset is considered not recoverable and is written down to its fair value plus the asset's share of capitalized unallocated interest and other costs. The carrying value of assets in communities that were previously impaired and continue to be classified as held for development is not increased for future estimates of increases in fair value in future reporting periods. Due to uncertainties in the estimation process, particularly with respect to projected home sales prices and absorption rates, the timing and amount of the estimated future cash flows and discount rates, it is reasonably possible that actual results could differ from the estimates used in our impairment analyses.

Asset Valuation - Land Held for Future Development. For those communities for which construction and development activities are expected to occur in the future or have been idled (land held for future development), all applicable interest and real estate taxes are expensed as incurred and the inventory is stated at cost unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. The future enactment of a development plan or the occurrence of events and circumstances may indicate that the carrying amount of an asset may not be recoverable. We evaluate the potential development plans of each community in land held for future development if changes in facts and circumstances occur which would give rise to a more detailed analysis for a change in the status of a community to active status or held for development.

Asset Valuation - Land Held for Sale. We record assets held for sale at the lower of the carrying value or fair value less costs to sell. The following criteria are used to determine if land is held for sale:


•	management has the authority and commits to a plan to sell the land;


•	the land is available for immediate sale in its present conditions;


•	there is an active program to locate a buyer and the plan to sell the property has been initiated;


•	the sale of the land is probable within one year;


•	the property is being actively marketed at a reasonable sale price relative to its current fair value; and


•	it is unlikely that the plan to sell will be withdrawn or that significant changes to the plan will be made.

Additionally, in certain circumstances, management will re-evaluate the best use of an asset that is currently being accounted for as held for development. In such instances, management will review, among other things, the current and projected competitive circumstances of the community, including the level of supply of new and used inventory, the level of sales absorptions by us and our competition, the level of sales incentives required and the number of owned lots remaining in the community. If, based on this review and the foregoing criteria have been met at the end of the applicable reporting period, we believe that the best use of the asset is the sale of all or a portion of the asset in its current condition, then all or portions of the community are accounted for as held for sale.

In determining the fair value of the assets less cost to sell, we consider factors including current sales prices for comparable assets in the area, recent market analysis studies, appraisals, any recent legitimate offers, and listing prices of similar properties. If the estimated fair value less cost to sell of an asset is less than its current carrying value, the asset is written down to its estimated fair value less cost to sell. Due to uncertainties in the estimation process, it is reasonably possible that actual results could differ from the estimates used in our historical analyses.

Land Not Owned Under Option Agreements. In addition to purchasing land directly, we utilize lot option agreements which generally enable us to defer acquiring portions of properties owned by third parties and unconsolidated entities until we have determined whether to exercise our lot option. A majority of our lot option contracts require a non-refundable cash deposit or irrevocable letter of credit based on a percentage of the purchase price of the land for the right to acquire lots during a specified period of time at a certain price. Under lot option contracts, purchase of the properties is contingent upon satisfaction of certain requirements by us and the sellers. Under lot option contracts our liability is generally limited to forfeiture of the non-refundable deposits, letters of credit and other non-refundable amounts incurred.

In accordance with generally accepted accounting principles in the United States of America (GAAP), if the entity holding the land under option is a VIE, the Company's deposit represents a variable interest in that entity. To determine whether we are the primary beneficiary of the VIE, we are first required to evaluate whether we have the ability to control the activities of the VIE that most significantly impact its economic performance. Such activities include, but are not limited to, the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; the ability to acquire additional land into the VIE or dispose of land in the VIE not under contract with Beazer; and the ability to change or amend the existing option contract with the VIE. If we are not determined to control such activities, we are not considered the primary beneficiary of the VIE and thus do not consolidate the VIE. If we do have the ability to control such activities, we will continue our analysis by determining if we are expected to absorb a potentially significant amount of the VIE's losses or, if no party absorbs the majority of such losses, if we will benefit from potentially a significant amount of the VIE's expected gains.

If we are the primary beneficiary of the VIE, we will consolidate the VIE and reflect such assets and liabilities as land not owned under option agreements in our balance sheets, though creditors of the VIE have no recourse against the Company. For VIEs we are required to consolidate, we record the remaining contractual purchase price under the applicable lot option agreement to land not owned under option agreements with an offsetting increase to obligations related to land not owned under option agreements. In recent years, the Company has canceled a significant number of lot option agreements, which has resulted in significant write-offs of the related deposits and pre-acquisition costs but has not exposed the Company to the overall risks or losses of the applicable VIEs.

Investments in Unconsolidated Entities. We participate in a number of land development joint ventures and have investments in other unconsolidated entities in which we have less than a controlling interest. We enter into investments in unconsolidated entities in order to acquire attractive land positions, to manage our risk profile and to leverage our capital base. Excluding our investment in a pre-owned rental homes real estate investment trust (REIT), our investments in our unconsolidated entities are typically entered into with developers, other homebuilders and financial partners to develop finished lots for sale to the unconsolidated entity’s members and other third parties. We account for our interest in our unconsolidated entities under the equity method. We recognize our share of equity in income (loss) and profits (losses) from the sale of lots to other buyers. Our share of profits from lots we purchase from the unconsolidated entities is deferred and treated as a reduction of the cost of the land purchased from the unconsolidated entity. Such profits are subsequently recognized at the time the home closes and title passes to the homebuyer. We evaluate our investments in unconsolidated entities for impairment during each reporting period. A series of operating losses of an investee or other factors may indicate that a decrease in the value of our investment in the unconsolidated entity has occurred which is other-than-temporary. The amount of impairment recognized is the excess of the investment's carrying value over its estimated fair value. Our unconsolidated entities typically obtain secured acquisition and development financing. See Note 3, Investments in Unconsolidated Entities.

Property, Plant and Equipment. Property, plant and equipment is recorded at cost. Depreciation is computed on a straight-line basis at rates based on estimated useful lives as follows:



Buildings		25 - 30 years
Building improvements		Lesser of estimated useful life of the improvements or remaining useful life of the building
Information systems		Lesser of estimated useful life of the asset or 5 years
Furniture, fixtures, and computer and office equipment		3 - 7 years
Model and sales office improvements		Lesser of estimated useful life of the asset or estimated useful life of the community
Leasehold improvements		Lesser of the lease term or the estimated useful life of the asset

Other Assets. Other assets principally include prepaid expenses, debt issuance costs and deferred compensation plan assets.

Income Taxes. The provision for income taxes is comprised of taxes that are currently payable and deferred taxes that relate to temporary differences between financial reporting carrying values and tax bases of assets and liabilities. Deferred tax assets and liabilities result from deductible or taxable amounts in future years when such assets and liabilities are recovered or settled and are measured using the enacted tax rates and laws that are expected to be in effect when the assets and liabilities are recovered or settled. We include any estimated interest and penalties on tax related matters in income taxes payable. We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition of measurement are recorded in the period in which the change in judgment occurs. We record interest and penalties related to unrecognized tax benefits in income tax expense.

Other Liabilities. Other liabilities include the following:



(In thousands)	September 30, 2012		September 30, 2011
Income tax liabilities	$	22,225	$	55,093
Accrued warranty expenses	15,477		17,916
Accrued interest	28,673		39,478
Accrued and deferred compensation	24,612		27,427
Customer deposits	8,830		5,868
Other	47,901		66,405
Total	$	147,718	$	212,187

Income Recognition and Classification of Costs. Revenue and related profit are generally recognized at the time of the closing of a sale, when title to and possession of the property are transferred to the buyer. As appropriate, revenue for condominiums under construction is recognized based on the percentage-of-completion method, when certain criteria are met.

Sales discounts and incentives include items such as cash discounts, discounts on options included in the home, option upgrades (such as upgrades for cabinetry, countertops and flooring), and seller-paid financing or closing costs. In addition, from time to time, we may also provide homebuyers with retail gift certificates and/or other nominal retail merchandise. All sales incentives other than cash discounts are recognized as a cost of selling the home and are included in home construction and land sales expenses. Cash discounts are accounted for as a reduction in the sales price of the home.

Estimated future warranty costs are charged to cost of sales in the period when the revenues from home closings are recognized. Such estimated warranty costs generally range from 0.1% to 2.2% of total revenue. Additional warranty costs are charged to cost of sales as necessary based on management's estimate of the costs to remediate existing claims. See Note 9 for a more detailed discussion of warranty costs and related reserves.

Advertising costs related to our continuing operations of $13.5 million, $11.4 million and $11.2 million for fiscal years 2012, 2011 and 2010, respectively, were expensed as incurred and are included in general and administrative expenses.

Earnings Per Share. The computation of basic EPS is determined by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS additionally gives effect (when dilutive) to stock options, other stock based awards and other potentially dilutive securities including the common shares issuable upon conversion of our Mandatory Convertible Subordinated Notes and Tangible Equity Unit prepaid stock purchase contracts.

In computing diluted loss per share for the fiscal years ended September 30, 2012, 2011, and 2010, all common stock equivalents were excluded from the computation of diluted loss per share as a result of their anti-dilutive effect, including options/stock-settled appreciation rights (SSARs) to purchase 0.4 million shares of common stock and 0.4 million and 8.1 million shares issuable upon the conversion of our Mandatory Convertible Notes and our TEU prepaid stock purchase contracts (based on the maximum potential shares upon conversion), respectively. See notes 7, 12 and 13 for further discussion of these common stock equivalents.

Fair Value Measurements. 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 may not be recovered. We review our long-lived assets, including inventory for recoverability when factors that indicate an impairment may exist, but no less than quarterly. Fair value is based on estimated cash flows discounted for market risks associated with the long-lived assets. The fair value of certain of our financial instruments approximate their carrying amounts due to the short maturity of these assets and liabilities or the variable interest rates on such obligations. The fair value of our publicly held debt is generally estimated based on quoted bid prices for these instruments. Certain of our other financial instruments are estimated by discounting scheduled cash flows through maturity or using market rates currently being offered on loans with similar terms and credit quality. See Notes 4 and 10 for additional discussion of our fair value measurements.

Stock-Based Compensation. We use the Black-Scholes model to value SSARs and stock option grants. We estimate forfeitures in calculating the expense related to stock-based compensation. In addition, we reflect the benefits of tax deductions in excess of recognized compensation cost as a financing cash inflow and an operating cash outflow. Nonvested stock granted to employees is valued based on the market price of the common stock on the date of the grant. Performance based, nonvested stock granted to employees is valued using the Monte Carlo valuation method. Cash-settled, stock-based awards if, and when, granted to employees are initially valued based on the market price of the underlying common stock on the date of the grant and are adjusted to fair value until vested. Stock options issued to non-employees are valued using the Black-Scholes option pricing model. Nonvested stock granted to non-employees is initially valued based on the market price of the common stock on the date of the grant and is adjusted to fair value until vested. Compensation cost arising from nonvested stock granted to employees, from cash-settled, stock-based employee awards and from non-employee stock awards is recognized as expense using the straight-line method over the vesting period. Although the Company may, from time to time grant cash-settled awards to employees, for the fiscal years ended and as of September 30, 2012, 2011, and 2010, there were no such awards either granted or outstanding.

Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Recent Accounting Pronouncements. In May 2011, the Financial Accounting Standard Board (FASB) issued ASU 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs. ASU 2011-04 clarifies some existing concepts, eliminates wording differences between U.S. GAAP and International Financial Reporting Standards (IFRS), and in some limited cases, changes some principles to achieve convergence between U.S. GAAP and IFRS. ASU 2011-04 results in a consistent definition of fair value and common requirements for measurement of and disclosure about fair value between U.S. GAAP and IFRS. ASU 2011-04 also expands the disclosures for fair value measurements that are estimated using significant unobservable (Level 3) inputs. The adoption of ASU 2011-04 effective with our second quarter of fiscal 2012 did not have a material effect on our operating results or financial position.

Supplemental Cash Flow Elements [Abstract]

The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

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Supplemental Cash Flow Information

12 Months Ended

Sep. 30, 2012

Supplemental Cash Flow Information



	Fiscal Year Ended September 30,
(In thousands)	2012			2011			2010
Supplemental disclosure of non-cash activity:
(Decrease) increase in obligations related to land not owned under option agreements	$	(602	)	$	(25,277	)	$	4,310
(Decrease) increase in future land purchase rights	(11,651		)	11,651			—
Contribution of future land purchase rights to unconsolidated entities	11,651			—			—
Increase in repayment guarantee obligation	—			15,670			—
Decrease in debt related to conversion of Mandatory Convertible Subordinated Notes and Tangible Equity Units for common stock	(55,308		)	—			—
Contribution of pre-owned net assets for investment in unconsolidated entity	(19,670		)	—			—
Non-cash land acquisitions	7,813			770			515
Issuance of stock under deferred bonus stock plans	—			101			2,337
Supplemental disclosure of cash activity:
Interest payments	126,313			116,049			113,885
Income tax payments	831			405			655
Tax refunds received	2,568			5,823			135,803

Equity Method Investments and Joint Ventures [Abstract]

The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.

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Investments in Unconsolidated Entities

12 Months Ended

Sep. 30, 2012

Investments in Unconsolidated Joint Ventures

Investments in Unconsolidated Entities

As of September 30, 2012, we participated in certain land development joint ventures and other unconsolidated entities in which Beazer Homes had less than a controlling interest. On May 3, 2012, the Company contributed cash and its Pre-owned rental homes business for an investment in an unconsolidated entity. The following table presents our investment in our unconsolidated entities, the total equity and outstanding borrowings of these unconsolidated entities, and our guarantees of these borrowings, as of September 30, 2012 and September 30, 2011:



(In thousands)	September 30, 2012		September 30, 2011
Beazer’s investment in unconsolidated entities	$	42,078	$	9,467
Total equity of unconsolidated entity	383,482		96,966
Total outstanding borrowings of unconsolidated entities	64,912		394,414
Beazer’s estimate of its maximum exposure to our repayment guarantees	696		17,916

For the fiscal years ended September 30, 2012, 2011, and 2010, our income (loss) from unconsolidated entity activities, the impairments of our investments in certain of our unconsolidated entities, and the overall equity in income (loss) of unconsolidated entities is as follows:



	Fiscal Year Ended September 30,
(In thousands)	2012			2011			2010
Continuing operations:
Income from unconsolidated entity activity	$	304		$	652		$	10
Impairment of unconsolidated entity investment	—			(92		)	(8,817		)
Equity in income (loss) of unconsolidated entities - continuing operations	$	304		$	560		$	(8,807	)
Reported in loss from discontinued operations, net of tax:
Loss from unconsolidated entity activity	$	(1	)	$	(16	)	$	(32	)
Impairment of unconsolidated entity investment	(36		)	(502		)	(15,511		)
Equity in loss of unconsolidated entities - discontinued operations	$	(37	)	$	(518	)	$	(15,543	)

South Edge/Inspirada

On December 9, 2010, lenders filed an involuntary bankruptcy petition against the South Edge joint venture (South Edge), which was granted by the court in February 2011. Effective June 10, 2011, the Company and certain other joint venture members (the Participating Members) entered into a settlement agreement with the lenders. Based on the terms of the agreement, the Company paid the lenders $15.9 million during the fiscal year ended September 30, 2012 under the plan of reorganization.

The plan of reorganization resulted in the formation of a new joint venture called Inspirada, LLC (Inspirada), with the Participating Members constituting the members of the new venture. Inspirada took title to the South Edge assets including its real property and lien rights, and the debt to the lenders was extinguished upon payment by the Inspirada members, including the Company, of their obligations under the plan of reorganization. In connection with these payments by the Inspirada members, all the South Edge repayment guarantees were released. The Participating Members also acquired all claims of the lender and South Edge against the non-Participating Members. As a result of the plan of reorganization and the formation of Inspirada, our right to future land purchases is a component of our investment in Inspirada. As such, we have recorded an investment in Inspirada, which includes the $11.7 million we previously estimated for our future right to purchase land and our cash contributions to the joint venture, primarily for organization costs. For the fiscal year ended September 30, 2012, there was no impact to our net loss related to these transactions. In addition to our initial payment, we, as a member of the Inspirada joint venture, will have obligations for future infrastructure and other development costs. At this time, these costs cannot be quantified due to, among other things, uncertainty over the future development configuration of the project and the related costs, market conditions, uncertainty over the remaining infrastructure deposits and previously filed bankruptcies of other joint venture members. In addition, there are uncertainties with respect to the location and density of the land we will receive as a result of our investment in Inspirada, the products we will build on such land and the estimated selling prices of such homes. Because there are uncertainties with respect to development costs, the value of the lien rights or title to our share of the underlying property, we may be required to record adjustments to the carrying value of this Inspirada investment in future periods as better information becomes available.

Pre-Owned Rental Homes

Effective May 3, 2012, we contributed $0.3 million in cash and our Pre-Owned Homes business at cost, including 190 homes in Arizona and Nevada, of which 187 were leased, for a 23.5% equity method investment in an unconsolidated real estate investment trust (the REIT). The Company also received grants of restricted units in the REIT, of which a portion vested during the year ended September 30, 2012. As of September 30, 2012, we held an 18.09% investment in the REIT.

Subsequent to the initial REIT offering, we entered into a transition services agreement with the REIT under which we will provide interim Chief Financial Officer and various back office and administrative support on an as needed basis. These services may include treasury operations and cash management services, accounting and financial reporting services, human resources support, environmental and safety services, and tax support. Fees received related to the transition services agreement will be billed at our cost and recognized as other income.

Guarantees

Our land development joint ventures typically obtain secured acquisition, development and construction financing. Generally, Beazer and our land development joint ventures partners provide varying levels of guarantees of debt and other obligations for these unconsolidated entities. At September 30, 2012, these guarantees included, for certain unconsolidated entities, repayment guarantees and environmental indemnities.

As of September 30, 2012, we and our joint venture partners have a repayment guarantee related to one of our unconsolidated entity’s borrowings. This repayment guarantee requires the repayment of a portion of the debt of the unconsolidated entity in the event the unconsolidated entity defaults on its obligations under the borrowing. Our estimate of Beazer’s maximum exposure to this repayment guarantee related to the outstanding debt of the unconsolidated entity was $0.7 million at September 30, 2012. As of September 30, 2012, $0.7 million has been recorded in Other Liabilities related to our repayment guarantee. We and our joint venture partners also generally provide unsecured environmental indemnities to land development joint ventures project lenders. In each case, we have performed due diligence on potential environmental risks. These indemnities obligate us to reimburse the project lenders for claims related to environmental matters for which they are held responsible. During the fiscal years ended September 30, 2012 and 2011, 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 recorded a liability for guarantees we determined were probable and reasonably estimable, but we have not recorded a liability for the contingent aspects of any guarantees that we determined were reasonably possible but not probable.

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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Inventory

12 Months Ended

Sep. 30, 2012

Real Estate [Abstract]

Inventory



(In thousands)	September 30, 2012		September 30, 2011
Homes under construction	$	251,828	$	277,331
Development projects in progress	391,019		424,055
Land held for future development	367,102		384,761
Land held for sale	10,149		12,837
Capitalized interest	38,190		45,973
Model homes	40,844		47,423
Total owned inventory	$	1,099,132	$	1,192,380

Homes under construction includes homes finished and ready for delivery and homes in various stages of construction. We had 174 ($39.7 million) and 334 ($59.3 million) substantially completed homes that were not subject to a sales contract (spec homes) at September 30, 2012 and 2011, 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 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. The decrease in land held for future development relates to our activation of a large mid-Atlantic project during the fourth quarter of fiscal 2012. Land held for sale in Unallocated and Other as of September 30, 2012 included land held for sale in the markets we have decided to exit including Jacksonville, Florida and Charlotte, North Carolina. Total owned inventory, by reportable segment, is set forth in the table below. Inventory located in California, the state with our largest concentration of inventory, was $350.9 million and $367.8 million at September 30, 2012 and 2011, respectively



(In thousands)	Projects in Progress		Held for Future Development		Land Held for Sale		Total Owned Inventory
September 30, 2012
West Segment	$	261,239	$	318,351	$	2,553	$	582,143
East Segment	279,954		25,130		3,204		308,288
Southeast Segment	118,853		23,621		1,675		144,149
Unallocated & Other	61,835		—		2,717		64,552
Total	$	721,881	$	367,102	$	10,149	$	1,099,132
September 30, 2011
West Segment	$	294,208	$	318,732	$	2,681	$	615,621
East Segment	304,648		41,993		5,056		351,697
Southeast Segment	122,126		24,036		75		146,237
Unallocated & Other	73,800		—		5,025		78,825
Total	$	794,782	$	384,761	$	12,837	$	1,192,380

Inventory Impairments. When conducting our community level review for the recoverability of our homebuilding inventories held for development, we establish a quarterly “watch list” of communities with more than 10 homes remaining that carry profit margins in backlog and in our forecast that are below a minimum threshold of profitability. Assets on the quarterly watch list are subject to substantial additional financial and operational analyses and review that consider the competitive environment and other factors contributing to profit margins below our watch list threshold. 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.

In our impairment analyses for the year ended September 30, 2012, we have assumed limited market improvements in some communities beginning in fiscal 2014 and continuing improvement in these communities in subsequent years. For any communities scheduled to close out in fiscal 2013, we did not assume any market improvements. The discount rate used may be different for each community and ranged from 11.2% to 17.0% for the communities analyzed in the fiscal year ended September 30, 2012 and 12.6% to 18.2% for the fiscal year ended September 30, 2011. The following tables represent the results, by reportable segment of our community level review of the recoverability of our inventory assets held for development as of September 30, 2012, 2011, and 2010 ($ in thousands). 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. The aggregate undiscounted cash flow fair value as a percentage of book value for the communities represented below is consistent with our expectations given our “watch list” methodology.



		Undiscounted Cash Flow Analyses Prepared
Segment	# of Communities on Watch List	# of Communities	Pre-analysis Book Value (BV)		Aggregate Undiscounted Cash Flow as a % of BV
Year Ended September 30, 2012
West	14	8	$	28,467	94.7	%
East	12	8	30,052		91.8	%
Southeast	5	3	9,247		116.5	%
Unallocated	—	—	5,193		100.0	%
Total	31	19	$	72,959	96.7	%

Year Ended Ended September 30, 2011
West	18	15	$	58,848	88.4	%
East	7	5	16,436		94.6	%
Southeast	4	3	11,017		60.3	%
Unallocated	1	—	9,707		100.0	%
Total	30	23	$	96,008	87.4	%

Year Ended September 30, 2010
West	20	20	$	80,270	90.8	%
East	12	10	43,655		79.7	%
Southeast	6	5	16,394		80.8	%
Discontinued Operations	5	5	7,882		93.8	%
Unallocated	—	—	13,728		100.0	%
Total	43	40	$	161,929	87.7	%

The table below summarizes the results of our discounted cash flow analysis for the fiscal years ended September 30, 2012, 2011 and 2010. The impairment charges below include impairments taken as a result of these discounted cash flow analyses and also impairment charges recorded for individual homes sold and in backlog with net contribution margins below a minimum threshold of profitability in communities that were not otherwise impaired through our discounted cash flow analyses. The estimated fair value of the impaired inventory is determined immediately after a community’s impairment.



($ in thousands)	Results of Discounted Cash Flow Analyses Prepared
Segment	# of Communities Impaired	# of Lots Impaired	Impairment Charge		Estimated Fair Value of Impaired Inventory at Period End
Year Ended September 30, 2012
West	2	116	$	3,902	$	11,058
East	2	93	4,316		7,342
Southeast	1	37	796		2,457
Unallocated	—	—	473		—
Continuing Operations	5	246	9,487		20,857
Discontinued Operations	—	—	60		—
Total	5	246	$	9,547	$	20,857

Year Ended Ended September 30, 2011
West	12	859	$	20,150	$	33,066
East	4	86	1,611		10,671
Southeast	3	278	5,182		6,022
Unallocated	—	—	2,362		—
Continuing Operations	19	1,223	29,305		49,759
Discontinued Operations	—	—	276		—
Total	19	1,223	$	29,581	$	49,759

Year Ended September 30, 2010
West	14	618	$	18,056	$	38,830
East	6	847	18,703		17,020
Southeast	5	362	7,510		10,984
Unallocated	—	—	3,404		—
Continuing Operations	25	1,827	47,673		66,834
Discontinued Operations	4	68	1,244		5,972
Total	29	1,895	$	48,917	$	72,806

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. During these periods, for certain communities we determined that it was prudent to reduce sales prices or further increase sales incentives in response to factors including competitive market conditions in those specific submarkets for the product and locations of these communities. Because the projected cash flows used to evaluate the fair value of inventory are significantly impacted by changes in market conditions including decreased sales prices, the change in sales prices and changes in absorption estimates based on current market conditions and management’s assumptions relative to future results led to impairments in five communities during the fiscal year ended September 30, 2012. During the fiscal years ended September 30, 2011 and 2010, discrete changes in our revenue and absorption estimates for certain communities due to pricing reductions in response to competitor actions and local market conditions led to impairments in 19 and 29 communities, respectively. Market deterioration that exceeds our estimates may lead us to incur additional impairment charges on previously impaired homebuilding assets in addition to homebuilding assets not currently impaired but for which indicators of impairment may arise if the market continues to deteriorate.

The year-to-date impairments on land held for sale below represent further write downs of these properties to net realizable value, less estimated costs to sell and are as a result of challenging market conditions and our review of recent comparable transactions. The negative impairments indicated below are due to adjustments to accruals for estimated selling costs related to either our strategic decision to develop a previously held-for-sale land position or revised estimates based on pending sales transactions. Our assumptions about land sales prices require significant judgment because the current market is highly sensitive to changes in economic conditions. We calculated the estimated fair values of land held for sale based on current market conditions and assumptions made by management, which may differ materially from actual results and may result in additional impairments if market conditions continue to deteriorate.

Also, we have determined the proper course of action with respect to a number of communities within each homebuilding segment was to abandon the remaining lots under option and to write-off the deposits securing the option takedowns, as well as pre-acquisition costs. In determining whether to abandon a lot option contract, we evaluate the lot option primarily based upon the expected cash flows from the property that is the subject of the option. If we intend to abandon or walk-away from a lot option contract, we record a charge to earnings in the period such decision is made for the deposit amount and any related capitalized costs associated with the lot option contract. We recorded lot option abandonment charges during the fiscal years ended September 30, 2012, 2011, and 2010 as indicated in the table below. The abandonment charges relate primarily to our decision to abandon certain option contracts that no longer fit in our long-term strategic plan.

The following table sets forth, by reportable homebuilding segment, the inventory impairments and lot option abandonment charges recorded for the fiscal years ended September 30, 2012, 2011, and 2010 (in thousands) :



	Fiscal Year Ended September 30,
	2012		2011			2010
Development projects and homes in process (Held for Development)
West	$	3,902	$	20,150		18,056
East	4,316		1,611			18,703
Southeast	796		5,182			7,510
Unallocated	473		2,362			3,404
Subtotal	$	9,487	$	29,305		$	47,673
Land Held for Sale
West	$	—	$	(51	)	1,061
East	100		193			—
Southeast	208		169			—
Subtotal	$	308	$	311		$	1,061
Lot Option Abandonments
West	$	301	$	405		783
East	1,320		2,048			35
Southeast	792		390			14
Unallocated	2		—			—
Subtotal	$	2,415	$	2,843		$	832
Continuing Operations	$	12,210	$	32,459		$	49,566
Discontinued Operations
Held for Development	$	60	$	276		1,244
Land Held for Sale	503		78			1,003
Lot Option Abandonments	16		2,552			26
Subtotal	$	579	$	2,906		$	2,273
Total Company	$	12,789	$	35,365		$	51,839

Lot Option Agreements and Variable Interest Entities (VIE). As previously discussed, we also have access to land inventory through lot option contracts, which generally enable us to defer acquiring portions of properties owned by third parties and unconsolidated entities until we have determined whether to exercise our lot option. A majority of our lot option contracts require a non-refundable cash deposit or irrevocable letter of credit based on a percentage of the purchase price of the land for the right to acquire lots during a specified period of time at a certain 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, which aggregated approximately $24.9 million at September 30, 2012. The total remaining purchase price, net of cash deposits, committed under all options was $198.5 million as of September 30, 2012. 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.

For the VIEs in which we are the primary beneficiary of the VIE, we have consolidated the VIE and reflected such assets and liabilities as land not owned under option agreements in our balance sheets. For VIEs we were required to consolidate, we recorded the remaining contractual purchase price under the applicable lot option agreement to land not owned under option agreements with an offsetting increase to obligations related to land not owned under option agreements. Also, to reflect the purchase price of this inventory consolidated, we reclassified the related option deposits from land under development to land not owned under option agreement in the accompanying consolidated balance sheets. Consolidation of these VIEs has no impact on the Company’s results of operations or cash flows.

The following provides a summary of our interests in lot option agreements as of September 30, 2012 and September 30, 2011 (in thousands):



	Deposits & Non-refundable Preacquisition Costs Incurred		Remaining Obligation		Land Not Owned - Under Option Agreements
As of September 30, 2012
Consolidated VIEs	$	7,203	$	3,346	$	10,549
Other consolidated lot option agreements (a)	430		1,441		$	1,871
Unconsolidated lot option agreements	17,290		193,711		—
Total lot option agreements	$	24,923	$	198,498	$	12,420
As of September 30, 2011
Consolidated VIEs	$	6,201	$	1,214	$	7,415
Other consolidated lot option agreements (a)	164		4,175		4,338
Unconsolidated lot option agreements	13,732		219,841		—
Total lot option agreements	$	20,097	$	225,230	$	11,753


(a)	Represents lot option agreements with non-VIE entities that we have deemed to be “financing arrangements” pursuant to ASC 470-40, Product Financing Arrangements.

Property, Plant and Equipment [Abstract]

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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Property, Plant and Equipment

12 Months Ended

Sep. 30, 2012

Property, Plant and Equipment

Property, plant and equipment consists of (in thousands):



	Fiscal Year Ended September 30,
	2012			2011
Buildings and improvements	$	2,329		$	2,329
Model and sales office improvements	31,188			36,364
Leasehold improvements	4,456			4,609
Information systems	20,671			19,970
Furniture, fixtures and office equipment	15,528			15,405
Property, plant and equipment, gross	74,172			78,677
Less: Accumulated Depreciation	(55,198		)	(56,064		)
Property, plant and equipment, net	$	18,974		$	22,613

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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Borrowings

12 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

Borrowings

At September 30, 2012 and September 30, 2011 we had the following long-term debt (in thousands):



	Maturity Date	2012			2011
6 7/8% Senior Notes	July 2015	$	172,454		$	172,454
8 1/8% Senior Notes	June 2016	172,879			172,879
12% Senior Secured Notes	October 2017	—			250,000
6 5/8% Senior Secured Notes	April 2018	300,000			—
9 1/8% Senior Notes	June 2018	300,000			300,000
9 1/8% Senior Notes	May 2019	235,000			250,000
TEU Senior Amortizing Notes	August 2013	316			10,062
TEU Senior Amortizing Notes	August 2015	23,500			—
Unamortized debt discounts		(3,082		)	(23,243		)
Total Senior Notes, net		1,201,067			1,132,152
Mandatory Convertible Subordinated Notes	January 2013	9,402			57,500
Junior subordinated notes	July 2036	51,603			49,537
Cash Secured Loan	November 2017	227,368			247,368
Other secured notes payable	Various Dates	8,758			2,269
Total debt, net		$	1,498,198		$	1,488,826

As of September 30, 2012, future maturities of our borrowings, excluding our Mandatory Convertible Subordinated Notes which are convertible to common stock upon maturity, are as follows (in thousands):



Fiscal Year Ended September 30,
2013	$	7,742
2014	8,155
2015	181,089
2016	173,109
2017	—
Thereafter	1,170,953
Total	$	1,541,048

Secured Revolving Credit Facility — In September 2012, we amended and expanded our Secured Revolving Credit Facility from $22 million to $150 million. The amended three-year amended Secured Revolving Credit Facility provides for future working capital and letter of credit needs collateralized by substantially all of the Company's personal property (excluding cash and cash equivalents) and real property. This facility is subject to various financial, collateral-based and negative covenants with which we are required to comply. As of September 30, 2012, we were in compliance with all such covenants. We have elected to cash collateralize all letters of credit; however, as of September 30, 2012, we have pledged approximately $0.9 billion of inventory assets to our Senior Secured Revolving Credit Facility to collateralize potential future borrowings or letters of credit. The Secured Revolving Credit Facility contains certain covenants, including negative covenants and financial maintenance covenants, with which we are required to comply. Subject to our option to cash collateralize our obligations under the Secured Revolving Credit Facility upon certain conditions, our obligations under the Secured Revolving Credit Facility are secured by liens on substantially all of our personal property and a significant portion of our owned real properties. There were no outstanding borrowings under the Secured Revolving Credit Facility as of September 30, 2012 or September 30, 2011.

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. The letter of credit arrangements combined with our Secured Revolving Credit Facility provide a total letter of credit capacity of approximately $220.0 million. As of September 30, 2012 and September 30, 2011, we have letters of credit outstanding of $24.7 million and $28.9 million, respectively, which are secured by cash collateral in restricted accounts. The Company may enter into additional arrangements to provide additional letter of credit capacity.

Senior Notes — The majority of our Senior Notes are unsecured or secured obligations ranking pari passu with all other existing and future senior indebtedness. Substantially all of our significant subsidiaries are full and unconditional guarantors of the Senior Notes and are jointly and severally liable for obligations under the Senior Notes and the Secured Revolving Credit Facility. Each guarantor subsidiary is a 100% owned subsidiary of Beazer Homes. As of September 30, 2012, we were in compliance with all covenants under our Senior Notes.

The indentures under which the Senior Notes were issued contain certain restrictive covenants, including limitations on payment of dividends. At September 30, 2012, under the most restrictive covenants of each indenture, no portion of our retained earnings was available for cash dividends or for share repurchases. The indentures provide that, in the event of defined changes in control or if our consolidated tangible net worth falls below a specified level or in certain circumstances upon a sale of assets, we are required to offer to repurchase certain specified amounts of outstanding Senior Notes. Specifically, certain indentures require us to offer to purchase 10% of the original amount of the Senior Notes at par if our consolidated tangible net worth (defined as stockholders’ equity less intangible assets) is less than $85 million at the end of any two consecutive fiscal quarters. If triggered and fully subscribed, this could result in our having to purchase $62.5 million of notes, based on the original amounts of the applicable notes; however, this amount may be reduced by certain Senior Note repurchases (potentially at less than par) made after the triggering date. As of September 30, 2012, our consolidated tangible net worth was $236.2 million.

In July 2012, we issued and sold $300 million aggregate principal amount of our 6.625% Senior Secured Notes due 2018 (Senior Secured Notes) through a private placement to qualified institutional buyers. The Senior Secured Notes were issued at par (before underwriting and other issuance costs). Interest on the Senior Secured Notes is payable semi-annually in cash in arrears, beginning October 15, 2012. The Senior Secured Notes will mature on April 15, 2018. The Senior Secured Notes were issued under an Indenture, dated as of July 18, 2012 (the "2012 Indenture”) which contains covenants which, subject to certain exceptions, limit the ability of the Company and its restricted subsidiaries to, among other things, incur additional indebtedness, engage in certain asset sales, make certain types of restricted payments and create liens on assets of the Company or the guarantors. The 2012 Indenture contains customary events of default.

Upon a change of control (as defined in the Indenture), the Indenture requires the Company to make an offer to repurchase the Senior Secured Notes at 101% of their principal amount, plus accrued and unpaid interest. If we sell certain assets and does not reinvest the net proceeds in compliance with the Indenture, then we must use the net proceeds to offer to repurchase the Senior Notes at 100% of their principal amount, plus accrued and unpaid interest. We may redeem the Senior Notes at any time prior to July 15, 2015, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium, plus accrued and unpaid interest to the redemption date. In addition, at any time on or prior to July 15, 2015, we may redeem up to 35% of the aggregate principal amount of Senior Secured Notes with the proceeds of certain equity offerings at a redemption price equal to 106.625% of the principal amount of the Senior Secured Notes plus accrued and unpaid interest, if any, to the date fixed for redemption; provided, that at least 65% of the aggregate principal amount of the Senior Secured Notes originally issued under the Indenture remain outstanding after such redemption. Thereafter, we may redeem some or all of the Senior Secured Notes at redemption prices set forth in the Indenture. These percentages range from 100.000% to 103.313%.

Concurrently with the Senior Secured Notes offering, we called for redemption of all $250 million outstanding of our 12% senior secured notes due 2017. Cash used for this redemption, including payment of accrued interest and the contractual call premium was approximately $280 million. We recorded a $42.4 million pre-tax loss on debt extinguishment (including write-off of unamortized discount and debt issuance costs) related to the redemption of the 12% senior secured notes due 2017.

In November 2010, we issued $250 million aggregate principal amount of 9 1/8% Senior Notes due May 15, 2019 in a private placement. Interest on these notes is payable semi-annually in cash in arrears, commencing on May 15, 2011. These notes are unsecured and rank equally with our unsecured indebtedness. We may, at our option, redeem the 9 1/8% Senior Notes in whole or in part at any time at specified redemption prices which include a “make whole” provision through May 15, 2014. During fiscal year 2011, we exchanged substantially all of the $250 million 9 1/8% Senior Notes due 2019 for notes that were publicly traded and registered under the Securities Act of 1933.

During fiscal 2012, we redeemed or repurchased in open market transactions $15.0 million of our 9 1/8% Senior Notes due 2019 for an aggregate purchase price of $14.6 million, plus accrued and unpaid interest. These transactions resulted in a gain on debt extinguishment of $30,000, net of unamortized discounts and debt issuance costs. During fiscal 2011, we redeemed or repurchased in open market transactions, $209.5 million principal amount of our Senior Notes ($164.5 million of 6¹/2% Senior Notes due 2013, $37.0 million of 6 7/8% Senior Notes due 2015 and $8.0 million of 8 1/8% Senior Notes due 2016). The aggregate purchase price was $210.0 million in 2011, plus accrued and unpaid interest as of the purchase date. The redemption/repurchase of the notes resulted in a $2.9 million pre-tax loss on extinguishment of debt, net of unamortized discounts and debt issuance costs related to these notes. All Senior Notes redeemed/repurchased by the Company were canceled.

Senior Notes: Tangible Equity Units — In July 2012, we issued 4.6 million 7.5% TEUs, which were comprised of prepaid stock purchase contracts and senior amortizing notes. As the two components of the TEUs are legally separate and detachable, we have accounted for the two components as separate items for financial reporting purposes and valued them based on their relative fair value at the date of issuance. The amortizing notes are unsecured senior obligations and rank equally with all of our other unsecured indebtedness. Outstanding notes pay quarterly installments of principal and interest through maturity. The prepaid stock purchase contracts were originally accounted for as equity (additional paid in capital) at the initial fair value of these contracts based on the relative fair value method. The prepaid stock purchase contracts related to these July 2012 TEUs are scheduled to be settled in Beazer Homes' common stock on July 15, 2015. See Note 12 for additional information related to the prepaid stock purchase contracts.

During May 2010, we issued 3.0 million 7.25% TEUs (the 2010 TEUs). In March 2012, we exchanged 2.8 million shares of our common stock for 2.8 million 2010 TEUs (comprised of prepaid stock purchase contracts and $7.2 million of senior amortizing notes). Since our offer to convert the 2010 TEUs included a premium share component and was not pursuant to the instrument's original conversion terms, we accounted for the exchange as an induced conversion of the 2010 TEUs. We compared the fair value of the common stock issued to the fair value of the 2010 TEU instruments at the date of acceptance in order to determine the premium of the consideration. This premium was then allocated between the debt and equity components of the 2010 TEUs based on each components relative fair value. The difference between the implied fair value of the amortizing notes (including the premium allocation) and the carrying value of the amortizing notes was recognized as a loss on extinguishment of debt and totaled approximately $0.7 million. The remaining related prepaid stock purchase contracts issued May 2010 will be settled in Beazer Homes’ common stock on August 15, 2013.

Mandatory Convertible Subordinated Notes — On January 12, 2010, we issued $57.5 million aggregate principal amount of 7 1/2% Mandatory Convertible Subordinated Notes due 2013 (the Mandatory Convertible Subordinated Notes). Interest on the Mandatory Convertible Subordinated Notes is payable quarterly in cash in arrears. Holders of the Mandatory Convertible Subordinated Notes have the right to convert their notes, in whole or in part, at any time prior to maturity, into shares of our common stock at a fixed conversion rate of 1.0870 shares per $25 principal amount of notes.

During the quarter ended March 31, 2012, we exchanged 2.2 million shares of our common stock for $48.1 million of our Mandatory Convertible Subordinated Notes. Since our offer to convert these notes included a premium share component, we accounted for the exchange as an induced conversion of these notes. We recognized a $2.0 million inducement expense equal to the fair value of the premium shares issued based on our common stock price as of the date of acceptance. This expense is included in loss on extinguishment of debt for the fiscal year ended September 30, 2012.

At maturity, the remaining $9.4 million of outstanding notes will automatically convert into the Company’s common stock at a defined conversion rate which will range from 0.8909 to 1.0870 (the initial conversion rate) shares per $25 principal amount of notes based on the then current price of the common stock. The securities are subordinated to nonconvertible debt, the conversion feature is non-detachable and there are no beneficial conversion features associated with this debt. If our consolidated tangible net worth is less than $85 million as of the last day of a fiscal quarter, the Company has the right to require holders to convert all of the notes then outstanding for shares of our common stock at the maximum conversion rate plus a conversion premium as described in the agreement.

Junior Subordinated Notes — On June 15, 2006, we completed a private placement of $103.1 million of unsecured junior subordinated notes which mature on July 30, 2036, are redeemable at par and pay a fixed rate of 7.987% for the first ten years ending July 30, 2016. Thereafter, the securities have a floating interest rate equal to three-month LIBOR plus 2.45% per annum, resetting quarterly. These notes were issued to Beazer Capital Trust I, which simultaneously issued, in a private transaction, trust preferred securities and common securities with an aggregate value of $103.1 million to fund its purchase of these notes. The transaction is treated as debt in accordance with GAAP. The obligations relating to these notes and the related securities are subordinated to the Secured Revolving Credit Facility and the Senior Notes.

On January 15, 2010, we completed an exchange of $75 million of our trust preferred securities issued by Beazer Capital Trust I for a new issue of $75 million of junior subordinated notes due July 30, 2036 issued by the Company (the New Junior Notes). The exchanged trust preferred securities and the related junior subordinated notes issued in 2006 were canceled effective January 15, 2010. The material terms of the New Junior Notes are identical to the terms of the original trust securities except that when the New Junior Notes change from a fixed rate to a variable rate in August 2016, the variable rate is subject to a floor of 4.25% and a cap of 9.25%. In addition, the Company now has the option to redeem the New Junior Notes beginning on June 1, 2012 at 75% of par value and beginning on June 1, 2022, the redemption price of 75% of par value will increase by 1.785% per year.

The aforementioned exchange has been accounted for as an extinguishment of debt as there has been a significant modification of cash flows and, as such, the New Junior Notes were recorded at their estimated fair value at the exchange date. Over the remaining life of the New Junior Notes, we will increase their carrying value until this carrying value equals the face value of the notes. As of September 30, 2012, the unamortized accretion was $49.2 million and will be amortized over the remaining life of the notes.

As of September 30, 2012, we were in compliance with all covenants under our Junior Notes.

Cash Secured Loans — In November 2010, we entered into two separate loan facilities which allowed for borrowings through May 2011 up to a combined commitment of $275 million. Borrowing under the cash secured term loan facilities are considered “refinancing indebtedness” under certain of the Company’s existing indentures and debt covenants. However, because the loans are fully collateralized by cash equal to the loan amount, the loans do not provide liquidity to the Company.

The loans mature in November 2017, however, the lenders of these facilities may put the outstanding loan balances to the Company at the two or four year anniversaries of the loan. Borrowings under the facilities are fully secured by cash held by the lender or its affiliates. This secured cash is reflected as restricted cash on our consolidated balance sheet as of September 30, 2012. We borrowed $32.6 million at inception of the loans. As previously indicated and in order to protect financing capacity available under our covenant refinancing basket related to previous or future debt repayments, we borrowed an additional $214.8 million under the cash secured loan facilities in May 2011. The cash secured loan has an interest rate equivalent to LIBOR plus 0.4% per annum which is paid every three months following the effective date of each borrowing.

During the quarter ended September 30, 2012, we repaid $20 million of the cash secured term loan and amended the cash secured loan facilities to allow additional borrowings up to a combined commitment of $275 million through March 2013. We also restructured the date of which the lenders may "put" the outstanding loan balance to November 2014, removing the original put at the second anniversary of the loan.

Other Secured Notes Payable — We periodically acquire land through the issuance of notes payable. As of September 30, 2012 and September 30, 2011, we had outstanding notes payable of $8.8 million and $2.3 million respectively, primarily related to land acquisitions. These notes payable have varying expiration dates between 2012 and 2019 and have a weighted average fixed rate of 3.79% at September 30, 2012. 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.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

Income Taxes

12 Months Ended

Sep. 30, 2012

Income Tax Disclosure [Abstract]

Income Taxes

The provision (benefit) for income taxes from continuing operations consists of the following (in thousands):



	Fiscal Year Ended September 30,
	2012			2011			2010
Current federal	$	(34,242	)	$	(1,963	)	$	(4,528	)
Current state	(143		)	319			65
Deferred federal	(5,964		)	3,728			(114,151		)
Deferred state	2			1,282			259
Total	$	(40,347	)	$	3,366		$	(118,355	)

The provision (benefit) for income taxes from continuing operations differs from the amount computed by applying the federal income tax statutory rate as follows (in thousands):



	Fiscal Year Ended September 30,
	2012			2011			2010
Income tax computed at statutory rate	$	(61,590	)	$	(68,886	)	$	(51,774	)
State income taxes, net of federal benefit	(6,055		)	(4,613		)	(5,756		)
Valuation allowance	59,601			74,047			(65,689		)
(Decrease) increase in unrecognized tax benefits	(32,441		)	1,511			3,108
Other, net	138			1,307			1,756
Total	$	(40,347	)	$	3,366		$	(118,355	)

The principal difference between our effective tax rate and the U.S. federal statutory rate relates to our valuation allowance and the recognition of prior year unrecognized tax benefits.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of significant temporary differences that give rise to the net deferred tax assets are as follows (in thousands):



	September 30, 2012			September 30, 2011
Deferred tax assets:
Warranty and other reserves	$	12,408		$	11,752
Incentive compensation	16,285			15,338
Property, equipment and other assets	2,647			2,734
Federal and state tax carryforwards	365,283			305,909
Inventory adjustments	133,843			143,746
Uncertain tax positions	16,331			45,303
Other	4,285			11,315
Total deferred tax assets	551,082			536,097
Deferred tax liabilities:
Deferred revenues	(56,017		)	(54,052		)
Total deferred tax liabilities	(56,017		)	(54,052		)
Net deferred tax assets before valuation allowance	495,065			482,045
Valuation allowance	(488,217		)	(479,285		)
Net deferred tax assets	$	6,848		$	2,760

At September 30, 2012, our gross deferred tax assets above included $273.5 million for federal net operating loss carryforwards, $81.9 million for state net operating loss carryforwards and $9.8 million for an alternative minimum tax credit. The net operating loss carryforwards expire at various dates through 2032. The alternative minimum tax credit has an unlimited carryforward period.

A reduction of the carrying amounts of deferred tax assets by a valuation allowance is required if, based on the available evidence, it is more likely than not that such assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is assessed periodically based on the more-likely-than-not realization threshold criterion. In the assessment for a valuation allowance, appropriate consideration is given to all positive and negative evidence related to the realization of the deferred tax assets. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carryforward periods, the Company's experience with loss carryforwards not expiring unused and tax planning alternatives.

Based upon an evaluation of all available evidence, we established a valuation allowance for substantially all of our deferred tax assets during fiscal 2008. Given the prolonged economic downturn affecting the homebuilding industry and the continued uncertainty regarding the recoverability of the remaining deferred tax assets, we continue to believe that a valuation allowance is needed for substantially all of our deferred tax assets. Therefore, at September 30, 2012 and 2011, the Company's deferred tax asset valuation allowance was $488.2 million and $479.3 million, respectively. In future periods, the allowance could be modified based on sufficient evidence indicating that more likely than not a portion of our deferred tax assets will be realized. Changes in existing tax laws could also affect actual tax results and the valuation of deferred tax assets over time.

Further, we experienced an “ownership change” as defined in Section 382 of the Internal Revenue Code (Section 382) as of January 12, 2010. Section 382 contains rules that limit the ability of a company that undergoes an “ownership change” to utilize its net operating loss carryforwards (NOLs) and certain built-in losses or deductions recognized during the five-year period after the ownership change to offset future taxable income. Therefore, our ability to utilize our pre-ownership change net operating loss carryforwards and recognize certain built-in losses or deductions is limited by Section 382 to an estimated maximum amount of approximately $11.4 million ($4 million tax-effected) annually. Certain deferred tax assets are not subject to any limitation imposed by Section 382.

Due to the Section 382 limitation and the maximum carryforward period of our NOLs, we are unable to fully recognize certain deferred tax assets. Accordingly, during fiscal 2012 and 2011, we reduced our gross deferred tax assets and corresponding valuation allowance by $15.6 million and $0.9 million, respectively. As future economic conditions unfold, we will be able to confirm that certain deferred tax assets will not provide any future tax benefit. At such time, we will accordingly remove any deferred tax asset and corresponding valuation allowance.

Accordingly, a portion of our $551 million of total gross deferred tax assets related to accrued losses on our inventory may be unavailable due to the limitation imposed by Section 382. As of September 30, 2012, we estimate that between $58.7 million and $117.8 million may be unavailable due to our Section 382 limitation. As a result, upon the resumption of sustained profitability and reversal of our valuation allowance, between $377.2 million and $436.3 million of our net deferred tax assets may be available to us for the reduction of future cash taxes. The actual realization of our deferred tax assets is difficult to predict and will be dependent on future events.

We expect to continue to add to our gross deferred tax assets for anticipated NOLs that will not be limited by Section 382.

Considering the limitation imposed by Section 382, the table below depicts the classifications of our deferred tax assets:



	September 30, 2012
	(in thousands)
Deferred tax assets:
Subject to annual limitation	$	87,441
Generally not subject to annual limitation	345,839
Certain components likely to be subject to annual limitation	117,802
Total deferred tax assets	551,082
Deferred tax liabilities	(56,017		)
Net deferred tax assets before valuation allowance	495,065
Valuation allowance	(488,217		)
Net deferred tax assets	$	6,848

A reconciliation of the beginning and ending amount of unrecognized tax benefits at the beginning and end of fiscal 2012, 2011 and 2010 is as follows (in thousands):



	Fiscal Year Ended September 30,
	2012			2011			2010
Balance at beginning of year	$	46,648		$	47,271		$	41,848
Additions for (reductions in) tax positions related to current year	903			(1,624		)	(3,435		)
Additions for tax positions related to prior years	—			1,563			11,533
Reductions for tax positions of prior years	(27,181		)	(252		)	(289		)
Settlements with taxing authorities	—			(310		)	(319		)
Lapse of statute of limitations	(740		)	—			(2,067		)
Balance at end of year	$	19,630		$	46,648		$	47,271

Due to our valuation allowance, if the Company were to recognize the $19.6 million of gross unrecognized tax benefits, substantially all would affect our effective tax rate. Additionally, we had $2.5 million and $8.2 million of accrued interest and penalties at September 30, 2012 and 2011, respectively. Our income tax benefit includes tax related interest.

In the normal course of business, we are subject to audits by federal and state tax authorities regarding various tax liabilities. The IRS is currently conducting a routine examination of our federal income tax returns for fiscal year 2007 through 2010, and certain state taxing authorities are examining various fiscal years. The statute of limitations for our major tax jurisdictions remains open for examination for fiscal years 2007 and subsequent years. The final outcome of these examinations is not yet determinable and therefore the change that could occur in our unrecognized tax benefits within the next 12 months cannot be estimated at this time.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Commitments and Contingencies Disclosure [Abstract]

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-Section 50

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-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

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-Name Accounting Standards Codification

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-Name Accounting Standards Codification

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43, 44, 45, 46, 47, 48, 49

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Contingencies

12 Months Ended

Sep. 30, 2012

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 in its business. In determining loss contingencies, we consider the likelihood of loss as well as the ability to reasonably estimate the amount of such loss or liability. An estimated loss is recorded when it is considered probable that a liability has been incurred and when the amount of loss can be reasonably estimated.

Warranty Reserves. We currently provide a limited warranty (ranging from one to two years) covering workmanship and materials per our defined performance quality standards. In addition, we provide a limited warranty (generally ranging from a minimum of five years up to the period covered by the applicable statute of repose) covering only certain defined construction defects. We also provide a defined structural element warranty with single-family homes and townhomes in certain states.

Since we subcontract our homebuilding work to subcontractors whose contracts generally include an indemnity obligation and a requirement that certain minimum insurance requirements be met, including providing us with a certificate of insurance prior to receiving payments for their work, many claims relating to workmanship and materials are the primary responsibility of the subcontractors.

Warranty reserves are included in other liabilities and the provision for warranty accruals is included in home construction and land sales expenses in the consolidated financial statements. We record reserves covering anticipated warranty expense for each home closed. 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 segment. An analysis by operating segment 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 contemplated in our historical data and trends.

As a result of our quarterly analyses, we adjust our estimated warranty liabilities if required. While we believe our warranty reserves are adequate as of September 30, 2012, historical data and trends may not accurately predict actual warranty costs or future developments could lead to a significant change in the reserve. Our warranty reserves are as follows (in thousands):



	Fiscal Year Ended September 30,
	2012			2011			2010
Balance at beginning of period	$	17,916		$	25,821		$	30,100
Accruals for warranties issued	6,540			5,665			6,827
Changes in liability related to warranties existing in prior periods	(2,677		)	(2,790		)	3,308
Payments made	(6,302		)	(10,780		)	(14,414		)
Balance at end of period	$	15,477		$	17,916		$	25,821

Litigation

On June 3, 2009, Beazer Homes Corp. was named as a defendant in a purported class action lawsuit in the Circuit Court for Lee County, State of Florida, filed by Bryson and Kimberly Royal, the owners of one of our homes in our Magnolia Lakes' community in Ft. Myers, Florida. The complaint names the Company and certain distributors and suppliers of drywall and was on behalf of the named plaintiffs and other similarly situated owners of homes in Magnolia Lakes or alternatively in the State of Florida. The plaintiffs allege that the Company built their homes with defective drywall, manufactured in China that contains sulfur compounds that allegedly corrode certain metals and that are allegedly capable of harming the health of individuals. Plaintiffs allege physical and economic damages and seek legal and equitable relief, medical monitoring and attorney's fees. This case has been transferred to the Eastern District of Louisiana pursuant to an order from the United States Judicial Panel on Multidistrict Litigation. In addition, the Company has been named in other multi-plaintiff complaints filed in the multidistrict litigation and individual state court actions. We believe that the claims asserted in these actions are governed by home warranties or are without merit. The Company has offered to repair all of these homes pursuant to a repair protocol that has been adopted by the multidistrict litigation court, including those homes involved in litigation. To date, the owners of all but two of the affected homes have accepted the Company's offer to repair. Furthermore, the Company has agreed to participate in a global class settlement with the plaintiff class counsel and numerous other defendants in the multidistrict litigation, which if approved by the Court, would resolve all claims, including future claims, against Beazer related to Chinese drywall, except those by persons or entities that opt out of the settlement. The settlement has received preliminary approval from the court. No Beazer homeowners opted out of the class and accordingly if the court grants final approval, it will resolve all claims against Beazer. The Company also continues to pursue recovery against responsible subcontractors, drywall suppliers and drywall manufacturers for its repair costs. As of September 30, 2102, no liability has been recorded for any such litigation claims as such exposure is not both probable and reasonably estimable.

On March 14, 2011, the Company and several subsidiaries including Beazer Mortgage Corporation (BMC) were named as defendants in a lawsuit filed by Flagstar Bank, FSB (Flagstar) in the Circuit Court for the County of Oakland, State of Michigan. As previously disclosed in prior filings, we operated BMC from 1998 through February 2008 to offer mortgage financing to buyers of our homes. BMC entered into various agreements with mortgage investors, pursuant to which BMC originated certain mortgage loans and ultimately sold these loans to investors. Underwriting decisions were not made by BMC but by the investors themselves or third-party service providers. The Flagstar complaint originally demanded approximately $5 million to recover purported losses in connection with 57 residential mortgage loan transactions under theories of breach of contract, fraud/intentional misrepresentation and other similar theories of recovery. The complaint was later amended to include additional loans and claims for additional damages. We believed we had strong defenses to these claims on these individual loans. In September 2012, we entered into a settlement agreement with Flagstar, in which the Company did not admit any liability. Under the terms of the settlement, the Company has made a payment to Flagstar that was not material to the Company's financial position or results of operations. The settlement with Flagstar releases BMC and the Company from any further exposure relating to any loans originated by BMC and sold to Flagstar. We have received similar claims from other institutions which have also been resolved on a global basis and at present the Company is not subject to any claims demanding damages or indemnity arising from BMC's activities. However, we cannot rule out the potential for additional mortgage loan repurchase or indemnity claims in the future from other investors, although, at this time, we do not believe that the exposure related to any such claims would be material to our consolidated financial position or results of operations. As of September 30, 2102, no liability has been recorded for any such additional claims as such exposure is not both probably and reasonably estimable.

We cannot predict or determine the timing or final outcome of the lawsuits or the effect that any adverse findings or determinations in the 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 the above 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 effect on our business, financial condition and results of operations.

Other Matters

As disclosed in our 2009 Form 10-K, on July 1, 2009, the Company announced that it has resolved the criminal and civil investigations by the United States Attorney’s Office in the Western District of North Carolina (the U.S. Attorney) and other state and federal agencies concerning matters that were the subject of the independent investigation, initiated in April 2007 by the Audit Committee of the Board of Directors (the Investigation) and concluded in May 2008. Under the terms of a deferred prosecution agreement (DPA), the Company’s liability for each of the fiscal years after 2010 through a portion of fiscal 2014 (unless extended as previously described in our 2009 Form 10-K) will be equal to 4% of the Company’s adjusted EBITDA (as defined in the DPA). The total amount of such obligations will be dependent on several factors; however, the maximum liability under the DPA and other settlement agreements discussed above will not exceed $55.0 million, of which $16 million has been paid as of September 30, 2012. Positive adjusted EBITDA in future years will require us to incur additional expense in the future.

In 2006, we received two Administrative Orders issued by the New Jersey Department of Environmental Protection. The Orders allege certain violations of wetlands disturbance permits and assess proposed fines of $630,000 and $678,000, respectively. We have met with the Department to discuss their concerns on the two affected communities and have requested hearings on both matters. Although we believe that we have significant defenses to the alleged violations, we have made a settlement proposal to the Department that is currently under consideration. We do not believe that any exposure would be material to our consolidated financial position or results of operations.

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 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 accrued $19.4 million and $30.4 million in other liabilities related to litigation and other matters, excluding warranty, as of September 30, 2012 and 2011, respectively. The amount accrued as of September 30, 2011 included $15.7 million related to the South Edge settlement obligation that was paid during the quarter ended December 31, 2011 (see Note 3 for additional information).

We had outstanding letters of credit and performance bonds of approximately $24.7 million and $157.0 million, respectively, at September 30, 2012 related principally to our obligations to local governments to construct roads and other improvements in various developments. We have no outstanding letters of credit relating to our land option contracts as of September 30, 2012.

The entire disclosure for commitments and contingencies.

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+ Details

Fair Value Measurements

12 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Measurements

As of September 30, 2012, we had no assets or liabilities in our consolidated balance sheets that were required to be measured at fair value on a recurring basis. 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 may not be recovered. 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; Level 3 – Unobservable inputs that reflect our own estimates about the assumptions market participants would use in pricing the asset or liability.

The following table presents our assets measured at fair value on a non-recurring basis for each hierarchy level and represents only those assets whose carrying values were adjusted to fair value during the fiscal year ended September 30, 2012 and 2011 (in thousands):



	Level 1	Level 2	Level 3	Total
Year Ended September 30, 2012
Development projects in progress	—	—	20,857	20,857
Land held for sale	—	—	1,973	1,973
Year Ended September 30, 2011
Development projects in progress	—	—	49,759	49,759
Right to purchase land	—	—	11,651	11,651

As previously disclosed, we review our long-lived assets, including inventory for recoverability when factors that indicate an impairment may exist, but no less than quarterly. Fair value is based on estimated cash flows discounted for market risks associated with the long-lived assets. The fair values of our investments in unconsolidated entities are determined primarily using a discounted cash flow model to value the underlying net assets of the respective entities. During the fiscal year ended September 30, 2012, including discontinued operations, we recorded impairments for development projects in process of $9.5 million, land held for sale impairments of $0.8 million, and impairments of unconsolidated entity investments of $36,000. During the fiscal year ended September 30, 2011, including discontinued operations, we recorded impairments for development projects in process of $29.6 million, land held for sale impairments of $0.4 million, and impairments of unconsolidated entity investments of $0.6 million. See Notes 1, 3 and 4 for additional information related to the fair value accounting for the assets listed above. Determining which hierarchical level an asset or liability falls within requires significant judgment. We evaluate our hierarchy disclosures each quarter.

The fair value of our cash and cash equivalents, restricted cash, accounts receivable, trade accounts payable, other liabilities, cash secured loan and other secured notes payable approximate their carrying amounts due to the short maturity of these assets and liabilities.

Obligations related to land not owned under option agreements approximate fair value. The carrying values and estimated fair values of other financial assets and liabilities were as follows (in thousands):



	As of September 30, 2012				As of September 30, 2011
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior Notes	$	1,201,067	$	1,228,745	$	1,132,152	$	856,634
Mandatory Convertible Subordinated Notes	9,402		7,465		57,500		22,747
Junior Subordinated Notes	51,603		51,603		49,537		49,537
	$	1,262,072	$	1,287,813	$	1,239,189	$	928,918

The estimated fair values shown above for our publicly held Senior Notes and Mandatory Convertible Subordinated Notes have been determined using quoted market rates (Level 2). Since there is no trading market for our junior subordinated notes, the fair value of these notes is estimated by discounting scheduled cash flows through maturity (Level 3). The discount rate is estimated using market rates currently being offered on loans with similar terms and credit quality. Judgment is required in interpreting market data to develop these estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that we could realize in a current market exchange.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details

Leases

12 Months Ended

Sep. 30, 2012

Leases [Abstract]

Leases

We are obligated under various noncancelable operating leases for office facilities, model homes and equipment. Rental expense under these agreements, which is included in general and administrative expenses, amounted to approximately $5.9 million, $11.0 million and $10.3 million for the fiscal years ended September 30, 2012, 2011 and 2010, respectively. This rental expense excludes expense related to our discontinued operations. As of September 30, 2012, future minimum lease payments under noncancelable operating lease agreements are as follows (in thousands):



Fiscal Year Ended September 30,

2013	$	5,341
2014	2,421
2015	1,856
2016	709
2017	87
Thereafter	—
Total	$	10,414

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References+ Details

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Sep. 30, 2012
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity	Stockholders' Equity As discussed in Note 1, on October 11, 2012, the Company executed a one-for-five reverse stock split. All share and per share information has been restated for this transaction. On October 11, 2012, the Company's stockholders also approved management's recommendation to reduce authorized shares from 180 million to 100 million. Preferred Stock. We currently have no shares of preferred stock outstanding. Common Stock Transactions. In March 2012, we exchanged 2.8 million shares of our common stock for 2.8 million of our 2010 TEUs (94% of the original issuance). As of September 30, 2012, there were 0.2 million 2010 TEUs outstanding (including $0.3 million of amortizing notes). Also in March 2012, we exchanged 2.2 million shares of our common stock for $48.1 million of our Mandatory Convertible Subordinated Notes. As of September 30, 2012, there are $9.4 million of Mandatory Convertible Subordinated Notes, which will be mandatory to convert to shares of common stock in January 2013 based on the applicable settlement factor at that time. On July 16, 2012, we concurrently closed on our underwritten public offerings of 4.4 million shares of Beazer common stock and 4.6 million 7.5% tangible equity units (TEUs) and received net proceeds of $171.4 million from these two offerings, after underwriting discounts, commissions and transaction expenses. Each TEU is comprised of a prepaid stock purchase contract and a senior amortizing note due July 15, 2015 (see Note 7 for discussion of the amortizing notes) which are legally separable and detachable. The prepaid stock purchase contracts will convert to Beazer Homes stock on July 15, 2015 based on the applicable settlement factor, as defined in the offering agreement, which will be between 1.40746 shares per unit and 1.72414 shares per unit. We have accounted for the prepaid stock purchase contracts as equity and recorded $88.4 million, the initial fair value of these contracts, based on the relative fair value method net of underwriting fees and other transaction costs, as additional paid in capital as of September 30, 2012. On January 12, 2010, we closed on our underwritten public offering of 4,485,000 shares of Beazer common stock. The Company utilized 0.7 million shares of treasury stock and received net proceeds of $97.8 million from the offering, after underwriting discounts, commissions and transaction expenses. On May 10, 2010, we concurrently closed on our underwritten public offerings of 2.5 million shares of Beazer common stock and 3.0 million 7.25% tangible equity units (2010 TEUs) and received net proceeds of $141.6 million from these two offerings, after underwriting discounts, commissions and transaction expenses. Each 2010 TEU is comprised of a prepaid stock purchase contract and a senior amortizing note due August 15, 2013 (see Note 7 for discussion of the amortizing notes) which are legally separable and detachable. The prepaid stock purchase contracts will convert to Beazer Homes stock on August 15, 2013 based on the applicable settlement factor, as defined in the offering agreement, which will be between 0.70252 shares per unit and 0.86058 shares per unit. We accounted for the prepaid stock purchase contracts as equity and recorded $57.4 million, the initial fair value of these contracts, based on the relative fair value method, as additional paid in capital as of September 30, 2010. Common Stock Repurchases. During fiscal 2012, 2011 and 2010, we did not repurchase any shares in the open market. Any future stock repurchases as allowed by our debt covenants must be approved by the Company's Board of Directors or its Finance Committee. During fiscal 2012, 2011 and 2010, 9,156, 10,440 and 6,589 shares, respectively, were surrendered to us by employees in payment of minimum tax obligations upon the vesting of restricted stock and restricted stock units under our stock incentive plans. We valued the stock at the market price on the date of surrender, for an aggregate value of approximately $126,000 in fiscal 2012, $170,000 in fiscal 2011 and $160,000 in fiscal 2010. Dividends. The indentures under which our senior notes were issued contain certain restrictive covenants, including limitations on payment of dividends. At September 30, 2012, under the most restrictive covenants of each indenture, none of our retained earnings was available for cash dividends. Hence, there were no dividends paid in fiscal 2012, 2011 and 2010.

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

Retirement Plan and Incentive Awards [Abstract]

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+ Details

Retirement Plan and Incentive Awards

12 Months Ended

Sep. 30, 2012

Retirement Plan and Incentive Awards

401(k) Retirement Plan. We sponsor a 401(k) plan (the Plan). Substantially all employees are eligible for participation in the Plan after completing one calendar month of service with us. Participants may defer and contribute to the Plan from 1% to 80% of their salary with certain limitations on highly compensated individuals. We match 50% of the first 6% of the participant's contributions. The participant's contributions vest 100% immediately, while our contributions vest over five years. Our total contributions for the fiscal years ended September 30, 2012, 2011 and 2010 were approximately $1.3 million, $1.5 million and $1.6 million, respectively. During fiscal 2012, 2011 and 2010, participants forfeited $0.3 million, $0.2 million and $0.1 million, respectively, of unvested matching contributions.

Deferred Compensation Plan. During fiscal 2002, we adopted the Beazer Homes USA, Inc. Deferred Compensation Plan (the DCP Plan). The DCP Plan is a non-qualified deferred compensation plan for a select group of executives and highly compensated employees. The DCP Plan allows the executives to defer current compensation on a pre-tax basis to a future year, up until termination of employment. The objectives of the DCP Plan are to assist executives with financial planning and capital accumulation and to provide the Company with a method of attracting, rewarding, and retaining executives. Participation in the DCP Plan is voluntary. Beazer Homes may voluntarily make a contribution to the participants' DCP accounts. Deferred compensation assets of $1.1 million and $5.9 million and deferred compensation liabilities of $2.4 million and $7.1 million as of September 30, 2012, and 2011, respectively, are included in other assets and other liabilities on the accompanying Consolidated Balance Sheets. The decrease in the deferred compensation assets and liabilities between fiscal 2011 and fiscal 2012 relates to employee elections to withdraw funds from the plan, forfeitures of matching contributions related to terminated employees and market losses on investments held within the plan. For the years ended September 30, 2012, 2011 and 2010, Beazer Homes contributed approximately $205,000, $197,000 and $273,000, respectively, to the DCP Plan.

Stock Incentive Plans. During fiscal 2010, we adopted the 2010 Stock Incentive Plan (the 2010 Plan) because our 1999 Stock Incentive Plan (the 1999 Plan) had expired. At September 30, 2012, we had reserved approximately 1.0 million shares of common stock for issuance under our various stock incentive plans, of which approximately 0.6 million shares are available for future grants.

Stock Option and SSAR Awards. We have issued various stock option and SSAR awards to officers and key employees under both the 2010 Plan and the 1999 Plan. Stock options have an exercise price equal to the fair market value of the common stock on the grant date, vest three years after the date of grant and may be exercised thereafter until their expiration, subject to forfeiture upon termination of employment as provided in the applicable plan. Under certain conditions of retirement, eligible participants may receive a partial vesting of stock options. Stock options granted prior to fiscal 2004, generally expire on the tenth anniversary from the date such options were granted. Beginning in fiscal 2004, newly granted stock options expire on the seventh or eighth anniversary from the date such options were granted. SSARs generally vest three years after the date of grant, have an exercise price equal to the fair market value of the common stock on the date of grant and are subject to forfeiture upon termination of employment as provided in the applicable plan. Under certain conditions of retirement, eligible participants may receive a partial vesting of SSARs.

The following table summarizes stock options and SSARs outstanding as of September 30 and activity during the fiscal years ended September 30:



	2012				2011				2010
	Shares		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price
Outstanding at beginning of period	375,248		$	48.85	515,671		$	113.45	421,783		$	165.35
Granted	109,507		10.80		150,853		23.45		201,229		28.45
Expired	(10,948	)	82.51		(148,393	)	270.10		(6,396	)	137.55
Canceled/exchanged	—				—		—		(93,187	)	165.20
Forfeited	(43,834	)	24.13		(142,883	)	25.45		(7,758	)	90.80
Outstanding at end of period	429,973		$	40.80	375,248		$	48.85	515,671		$	113.45
Exercisable at end of period	247,588		$	58.61	163,076		$	64.65	154,132		$	207.95
Vested or expected to vest in the future	428,597		$	40.88	367,693		$	49.30	460,587		$	102.75

The fair value of each grant is estimated on the date of grant using the Black-Scholes option-pricing model based on the following assumptions:



	2012			2011			2010
Expected life of options	5.0 years			4.8 years			4.8 years
Expected volatility	44.77		%	51.70		%	50.00		%
Expected discrete dividends	—			—			—
Weighted average risk-free interest rate	0.90		%	1.22		%	2.33		%
Weighted average fair value	$	4.30		$	10.50		$	12.75

The expected volatility is based on the historic returns of our stock and the implied volatility of our publicly-traded options. 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 and we have 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.

The intrinsic value of a stock option/SSAR is the amount by which the market value of the underlying stock exceeds the exercise price of the option/SSAR. At September 30, 2012, our SSAR/stock options outstanding had an intrinsic value of $0.8 million. The intrinsic value of SSARs/stock options vested and expected to vest in the future was $0.8 million. The SSARS/stock options vested and expected to vest in the future had a weighted average expected life of 2.7 years. There was no aggregate intrinsic value of exercisable SSARs/stock options as of September 30, 2012.

The following table summarizes information about stock options and SSARs outstanding and exercisable at September 30, 2012:



	Stock Options/SSARs Outstanding				Stock Options/SSARs Exercisable
Range of Exercise Price	Number Outstanding	Weighted Average Contractual Remaining Life (Years)	Weighted Average Exercise Price		Number Exercisable	Weighted Average Contractual Remaining Life (Years)	Weighted Average Exercise Price

$1 - $20	274,381	5.48	$	17.04	121,317	3.10	$	15.79
$21 - $75	92,673	4.61	28.45		63,352	4.61	28.45
$76 - $150	7,703	0.32	96.45		7,703	0.32	96.45
$151 - $220	55,216	1.57	171.87		55,216	1.57	171.87
$1 - $220	429,973	4.70	$	40.80	247,588	3.06	$	58.61

For the fiscal years ended September 30, 2012, 2011 and 2010, non-cash stock-based compensation expense for stock options and SSARs, included in G&A expenses, was $1.5 million, $3.4 million and $5.9 million, respectively.

Nonvested Stock Awards: Compensation cost arising from nonvested stock awards granted to employees is recognized as an expense using the straight-line method over the vesting period. As of September 30, 2012 and September 30, 2011, there was $2.1 million and $4.0 million, respectively, of total unrecognized compensation cost related to nonvested stock awards included in paid-in capital. The cost remaining at September 30, 2012 is expected to be recognized over a weighted average period of 1.4 years.

During the fiscal year ended September 30, 2012, we issued 109,507 shares of performance-based restricted stock (Performance Shares) to our executive officers and certain corporate employees. 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. The number of shares that will vest at the end of the three-year performance period will depend upon the level to which the following two performance criteria are achieved 1) Beazer’s total shareholder return (TSR) relative to a group of peer companies and 2) the compound annual growth rate (CAGR) during the three-year performance period of Beazer common stock. The target number of Performance Shares that vest may be increased by up to 50% based on the level of achievement of the above criteria as defined in the award agreement. Payment for Performance Shares in excess of the target number (109,507) will be settled in cash. Any portion of the Performance Shares that do not vest at the end of the period will be forfeited. The grants of the performance-based, nonvested stock were valued using the Monte Carlo valuation method and had an estimated fair value of $5.65 per share, a portion of which is attributable to the potential cash-settled liability aspect of the grant which is included in Other Liabilities.

A Monte Carlo simulation model requires the following inputs: 1) expected dividend yield on the underlying stock, 2) expected price volatility of the underlying stock, 3) risk-free interest rate for the period corresponding with the expected term of the award and 4) 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 simulation model to determine the fair value as of the grant date for the Performance Shares: 0% dividend yield for the Company, expected price volatility ranging from 36.0% to 61.1% and a risk-free interest rate of 0.43%. The methodology used to determine these assumptions is similar to that for the Black-Scholes Model used for stock option grants discussed above; however the expected term is determined by the model in the Monte Carlo simulation.

Activity relating to nonvested stock awards, including the Performance Shares for the fiscal years ended September 30, 2012, 2011 and 2010 is as follows:



	Year Ended September 30, 2012				Year Ended September 30, 2011				Year Ended September 30, 2010
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Beginning of period	288,079		$	33.85	367,997		$	72.05	225,376		$	138.30
Granted	179,913		7.19		150,853		23.45		201,229		28.45
Vested	(88,497	)	34.20		(82,740	)	104.70		(40,303	)	166.05
Returned (a)	—		—		(10,502	)	342.80		—		—
Forfeited	(56,160	)	29.97		(137,529	)	58.50		(18,305	)	201.95
End of period	323,335		$	19.61	288,079		$	33.85	367,997		$	72.05

(a) Our former Chief Executive Offer returned 10,502 shares of unvested restricted stock in accordance with this agreement with the Securities and Exchange Commission.

Compensation expense for the nonvested restricted stock awards totaled $2.6 million, $3.8 million and $5.6 million for the fiscal years ended September 30, 2012, 2011 and 2010, respectively.

Segment Information

12 Months Ended

Sep. 30, 2012

Segment Reporting [Abstract]

Segment Information

We have three homebuilding segments operating in 16 states. Beginning in the second quarter of fiscal 2011, through May 2, 2012, we operated our Pre-Owned Homes business in Arizona and Nevada. The results below include operating results of our Pre-Owned segment through May 2, 2012. Effective May 3, 2012, we contributed our Pre-Owned Homes business for an investment in an unconsolidated entity (see Note 3 for additional information). Revenues in our homebuilding segments are derived from the sale of homes which we construct and from land and lot sales. Revenues from our Pre-Owned segment were derived from the rental of previously owned homes purchased and improved by the Company. Our reportable segments have been determined on a basis that is used internally by management for evaluating segment performance and resource allocations. The reportable homebuilding segments and all other homebuilding operations, not required to be reported separately, include operations conducting business in the following states:

West: Arizona, California, Nevada and Texas

East: Delaware, Indiana, Maryland, New Jersey, New York, Pennsylvania, Tennessee (Nashville) and Virginia

Southeast: Florida, Georgia, North Carolina (Raleigh) and South Carolina

Management’s evaluation of segment performance is based on segment operating income. Operating income for our homebuilding segments is defined as homebuilding, land sale and other revenues less home construction, land development and land sales expense, commission expense, depreciation and amortization and certain general and administrative expenses which are incurred by or allocated to our homebuilding segments. Operating income for our Pre-Owned segment was defined as rental revenues less home repairs and operating expenses, home sales expense, depreciation and amortization and certain general and administrative expenses which are incurred by or allocated to the segment. The accounting policies of our segments are those described in Note 1 above. The following information is in thousands:



	Fiscal Year Ended September 30,
	2012		2011		2010
Revenue
West	$	391,648	$	233,133	$	364,530
East	402,466		343,826		451,162
Southeast	210,449		165,107		175,460
Pre-Owned	1,114		339		—
Continuing Operations	$	1,005,677	$	742,405	$	991,152



	Fiscal Year Ended September 30,
	2012			2011			2010
Operating income/(loss)
West	$	15,147		$	(28,406	)	$	1,120
East	9,152			11,611			11,329
Southeast	14,815			(2,740		)	(130		)
Pre-Owned	(229		)	(724		)	—
Segment total	38,885			(20,259		)	12,319
Corporate and unallocated (a)	(100,943		)	(111,986		)	(125,753		)
Total operating loss	(62,058		)	(132,245		)	(113,434		)
Equity in income (loss) of unconsolidated entities	304			560			(8,807		)
(Loss) gain on extinguishment of debt	(45,097		)	(2,909		)	43,901
Other expense, net (d)	(69,119		)	(62,224		)	(69,585		)
Loss from continuing operations before income taxes	$	(175,970	)	$	(196,818	)	$	(147,925	)



	Fiscal Year Ended September 30,
	2012		2011		2010
Depreciation and amortization
West	$	4,980	$	3,651	$	5,161
East	3,536		2,621		3,665
Southeast	1,710		885		1,496
Pre-Owned	330		69		—
Segment total	10,556		7,226		10,322
Corporate and unallocated (a)	2,954		3,027		2,347
Continuing Operations	$	13,510	$	10,253	$	12,669



	Fiscal Year Ended September 30,
	2012		2011		2010
Capital Expenditures
West	$	3,031	$	4,041	$	3,939
East	3,532		2,051		1,734
Southeast	1,814		1,631		1,184
Pre-Owned (b)	7,933		11,415		—
Corporate and unallocated	1,053		1,376		3,992
Consolidated total	$	17,363	$	20,514	$	10,849



	September 30, 2012		September 30, 2011
Assets
West	$	618,805	$	649,057
East	320,404		372,984
Southeast	160,868		162,135
Pre-Owned (b)	—		12,315
Corporate and unallocated (c)	882,141		780,986
Consolidated total	$	1,982,218	$	1,977,477

(a)

Corporate and unallocated includes amortization of capitalized interest and numerous shared services functions that benefit all segments, the costs of which are not allocated to the operating segments reported above including information technology, national sourcing and purchasing, treasury, corporate finance, legal, branding and other national marketing costs. For the fiscal year ended September 30, 2012, corporate and unallocated also includes an $11 million recovery related to old water intrusion warranty and related legal expenditures.


(b)	Pre-owned assets included the cost of previously owned homes, net of accumulated depreciation, totaling $11.3 million (120 homes) as of September 30, 2011. Capital expenditures represent the purchase of previously owned homes through May 2, 2012 and September 30, 2011, respectively.


(c)	Primarily consists of cash and cash equivalents, consolidated inventory not owned, deferred taxes, capitalized interest and other items that are not allocated to the segments.


(d)	The fiscal year ended September 30, 2011, includes an $8.3 million benefit related to the cash reimbursements from our former CEO and former CFO in connection with their consent agreements with the Securities and Exchange Commission.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

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+ Details

Supplemental Guarantor Information

12 Months Ended

Sep. 30, 2012

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 our Secured Revolving Credit Facility. The guarantees are full and unconditional and the guarantor subsidiaries are 100% owned by Beazer Homes USA, Inc. We have revised the prior period presentation for intercompany amounts included in the financial statements below to be consistent with the current year presentation.



	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	481,394	$	8,215	$	646	$	(2,460	)	$	487,795
Restricted cash	252,900		360		—		—			253,260
Accounts receivable (net of allowance of $2,235)	—		24,594		5		—			24,599
Income tax receivable	6,372		—		—		—			6,372
Owned inventory	—		1,099,132		—		—			1,099,132
Consolidated inventory not owned	—		12,420		—		—			12,420
Investments in unconsolidated entities	773		41,305		—		—			42,078
Deferred tax assets, net	6,848		—		—		—			6,848
Property, plant and equipment, net	—		18,974		—		—			18,974
Previously owned rental homes, net	—		—		—		—			—
Investments in subsidiaries	63,120		—		—		(63,120		)	—
Intercompany	969,425		—		3,001		(972,426		)	—
Other assets	21,307		7,783		1,650		—			30,740
Total assets	$	1,802,139	$	1,212,783	$	5,302	$	(1,038,006	)	$	1,982,218
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	69,268	$	—	$	—		$	69,268
Other liabilities	49,354		96,389		1,975		—			147,718
Intercompany	1,098		973,788		—		$	(974,886	)	—
Obligations related to land not owned under option agreements	—		4,787		—		—			4,787
Total debt (net of discounts of $3,082)	1,489,440		8,758		—		—			1,498,198
Total liabilities	1,539,892		1,152,990		1,975		$	(974,886	)	1,719,971
Stockholders’ equity	262,247		59,793		3,327		(63,120		)	262,247
Total liabilities and stockholders’ equity	$	1,802,139	$	1,212,783	$	5,302	$	(1,038,006	)	$	1,982,218



	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	360,723	$	10,488	$	418	$	(1,226	)	$	370,403
Restricted cash	276,678		380		—		—			277,058
Accounts receivable (net of allowance of $3,872)	—		28,292		11		—			28,303
Income tax receivable	4,823		—		—		—			4,823
Owned inventory	—		1,192,380		—		—			1,192,380
Consolidated inventory not owned	—		11,753		—		—			11,753
Investments in unconsolidated entities	773		8,694		—		—			9,467
Deferred tax assets	2,760		—		—		—			2,760
Property, plant and equipment, net	—		22,613		—		—			22,613
Previously owned rental homes, net	—		11,347		—		—			11,347
Investments in subsidiaries	100,996		—		—		(100,996		)	—
Intercompany	1,013,753		—		4,773		(1,018,526		)	—
Other assets	18,550		25,190		2,830		—			46,570
Total assets	$	1,779,056	$	1,311,137	$	8,032	$	(1,120,748	)	$	1,977,477
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	72,695	$	—	$	—		$	72,695
Other liabilities	93,047		116,210		2,930		—			212,187
Intercompany	1,072		1,018,680		—		(1,019,752		)	—
Obligations related to consolidated inventory not owned	—		5,389		—		—			5,389
Total debt (net of discounts of $23,243)	1,486,557		2,269		—		—			1,488,826
Total liabilities	1,580,676		1,215,243		2,930		(1,019,752		)	1,779,097
Stockholders’ equity	198,380		95,894		5,102		(100,996		)	198,380
Total liabilities and stockholders’ equity	$	1,779,056	$	1,311,137	$	8,032	$	(1,120,748	)	$	1,977,477



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2012
Total revenue	$	—		$	1,005,677		$	941		$	(941	)	$	1,005,677
Home construction and land sales expenses	60,952			828,368			—			(941		)	888,379
Inventory impairments and option contract abandonments	275			11,935			—			—			12,210
Gross (loss) profit	(61,227		)	165,374			941			—			105,088
Commissions	—			43,585			—			—			43,585
General and administrative expenses	—			109,937			114			—			110,051
Depreciation and amortization	—			13,510			—			—			13,510
Operating (loss) income	(61,227		)	(1,658		)	827			—			(62,058		)
Equity in loss of unconsolidated entities	—			304			—			—			304
Loss on extinguishment of debt	(45,097		)	—			—			—			(45,097		)
Other (expense) income, net	(71,474		)	2,328			27			—			(69,119		)
(Loss) income before income taxes	(177,798		)	974			854			—			(175,970		)
(Benefit from) provision for income taxes	(68,026		)	27,380			299			—			(40,347		)
Equity in loss of subsidiaries	(25,851		)	—			—			25,851			—
(Loss) income from continuing operations	(135,623		)	(26,406		)	555			25,851			(135,623		)
Loss from discontinued operations	—			(9,695		)	(8		)				(9,703		)
Equity in loss of subsidiaries	(9,703		)	—			—			9,703			—
Net (loss) income	$	(145,326	)	$	(36,101	)	$	547		$	35,554		$	(145,326	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2011
Total revenue	$	—		$	742,405		$	1,102		$	(1,102	)	$	742,405
Home construction and land sales expenses	46,382			616,571			—			(1,102		)	661,851
Inventory impairments and option contract abandonments	1,907			30,552			—			—			32,459
Gross (loss) profit	(48,289		)	95,282			1,102			—			48,095
Commissions	—			32,711			—			—			32,711
General and administrative expenses	—			137,261			115			—			137,376
Depreciation and amortization	—			10,253			—			—			10,253
Operating (loss) income	(48,289		)	(84,943		)	987			—			(132,245		)
Equity in income of unconsolidated entities	—			560			—			—			560
Loss on extinguishment of debt	(2,909		)	—			—			—			(2,909		)
Other (expense) income, net	(73,440		)	11,145			71			—			(62,224		)
(Loss) income before income taxes	(124,638		)	(73,238		)	1,058			—			(196,818		)
(Benefit from) provision for income taxes	(46,540		)	49,536			370			—			3,366
Equity in loss of subsidiaries	(122,086		)	—			—			122,086			—
(Loss) income from continuing operations	(200,184		)	(122,774		)	688			122,086			(200,184		)
Loss from discontinued operations	—			(4,672		)	(3		)	—			(4,675		)
Equity in loss of subsidiaries	(4,675		)	—			—			4,675			—
Net (loss) income	$	(204,859	)	$	(127,446	)	$	685		$	126,761		$	(204,859	)

Beazer Homes USA, Inc.

Consolidating Statement of Operations Information

(in thousands)



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2010
Total revenue	$	—		$	989,350		$	1,802		$	—		$	991,152
Home construction and land sales expenses	52,243			805,714			—			—			857,957
Inventory impairments and option contract abandonments	2,313			47,253			—			—			49,566
Gross (loss) profit	(54,556		)	136,383			1,802			—			83,629
Commissions	—			43,279			—			—			43,279
General and administrative expenses	—			141,005			110			—			141,115
Depreciation and amortization	—			12,669			—			—			12,669
Operating (loss) income	(54,556		)	(60,570		)	1,692			—			(113,434		)
Equity in loss of unconsolidated entities	—			(8,807		)	—			—			(8,807		)
Gain on extinguishment of debt	43,625			276			—			—			43,901
Other (expense) income, net	(74,215		)	4,551			79			—			(69,585		)
(Loss) income before income taxes	(85,146		)	(64,550		)	1,771			—			(147,925		)
(Benefit from) provision for income taxes	(32,143		)	(86,832		)	620			—			(118,355		)
Equity in income of subsidiaries	23,433			—			—			(23,433		)	—
(Loss) income from continuing operations	(29,570		)	22,282			1,151			(23,433		)	(29,570		)
Loss from discontinued operations	—			(4,474		)	(5		)	—			(4,479		)
Equity in loss of subsidiaries	(4,479		)	—			—			4,479			—
Net (loss) income	$	(34,049	)	$	17,808		$	1,146		$	(18,954	)	$	(34,049	)



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2012
Net cash (used in) provided by operating activities	$	(110,429	)	$	88,806		$	778		$	—		$	(20,845	)
Cash flows from investing activities:
Capital expenditures	—			(17,363		)	—			—			(17,363		)
Investments in unconsolidated entities	—			(2,407		)	—			—			(2,407		)
Return of capital from unconsolidated entities	—			610			—			—			610
Increases in restricted cash	(2,100		)	(1,160		)	—			—			(3,260		)
Decreases in restricted cash	25,919			1,139			—			—			27,058
Net cash provided by (used in) investing activities	23,819			(19,181		)	—			—			4,638
Cash flows from financing activities:
Repayment of debt	(309,063		)	(1,324		)	—			—			(310,387		)
Proceeds from issuance of new debt	300,000			—			—			—			300,000
Debt issuance costs	(10,845		)	—			—			—			(10,845		)
Proceeds from issuance of common stock	60,340			—			—			—			60,340
Proceeds from issuance of TEU prepaid stock purchase contracts, net	88,361			—			—			—			88,361
Proceeds from issuance of TEU amortizing notes	23,500			—			—			—			23,500
Settlement of unconsolidated entity debt obligations	(15,862		)	—			—			—			(15,862		)
Payments for other financing activities	(1,508		)	—			—			—			(1,508		)
Dividends paid	2,300			—			(2,300		)	—			—
Advances to/from subsidiaries	70,058			(70,574		)	1,750			(1,234		)	—
Net cash provided by (used in) financing activities	207,281			(71,898		)	(550		)	(1,234		)	133,599
(Decrease) increase in cash and cash equivalents	120,671			(2,273		)	228			(1,234		)	117,392
Cash and cash equivalents at beginning of period	360,723			10,488			418			(1,226		)	370,403
Cash and cash equivalents at end of period	$	481,394		$	8,215		$	646		$	(2,460	)	$	487,795
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2011
Net cash (used in) provided by operating activities	$	(53,850	)	$	(126,090	)	$	1,004		$	—		$	(178,936	)
Cash flows from investing activities:
Capital expenditures	—			(20,514		)	—			—			(20,514		)
Investments in unconsolidated entities	—			(1,924		)	—			—			(1,924		)
Increases in restricted cash	(249,728		)	(1,111		)	—			—			(250,839		)
Decreases in restricted cash	11,832			1,149			—			—			12,981
Net cash used in investing activities	(237,896		)	(22,400		)	—			—			(260,296		)
Cash flows from financing activities:
Repayment of debt	(214,005		)	(1,371		)	—			—			(215,376		)
Proceeds from issuance of new debt	246,387			—			—			—			246,387
Proceeds from issuance of cash secured loan	247,368			—			—			—			247,368
Debt issuance costs	(5,172		)	—			—			—			(5,172		)
Payments for other financing activities	(693		)	—			—			—			(693		)
Dividends paid	850			—			(850		)	—			—
Advances to/from subsidiaries	(153,113		)	152,006			64			1,043			—
Net cash provided by (used in) financing activities	121,622			150,635			(786		)	1,043			272,514
(Decrease) increase in cash and cash equivalents	(170,124		)	2,145			218			1,043			(166,718		)
Cash and cash equivalents at beginning of period	530,847			8,343			200			(2,269		)	537,121
Cash and cash equivalents at end of period	$	360,723		$	10,488		$	418		$	(1,226	)	$	370,403

Beazer Homes USA, Inc.

Consolidating Statements of Cash Flow Information

(in thousands)



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2010
Net cash (used in) provided by operating activities	$	(88,344	)	$	159,953		$	(1,924	)	$	—		$	69,685
Cash flows from investing activities:
Capital expenditures	—			(10,849		)	—			—			(10,849		)
Investments in unconsolidated entities	—			(5,602		)	—			—			(5,602		)
Increases in restricted cash	(36,345		)	(1,094		)	—			—			(37,439		)
Decreases in restricted cash	46,477			1,223			—			—			47,700
Net cash used in investing activities	10,132			(16,322		)	—			—			(6,190		)
Cash flows from financing activities:
Repayment of debt	(616,858		)	(2,948		)	—			—			(619,806		)
Proceeds from issuance of new debt	357,500			1,200			—			—			358,700
Debt issuance costs	(9,234		)	—			—			—			(9,234		)
Proceeds from issuance of common stock, net	166,718			—			—			—			166,718
Proceeds from issuance of TEU prepaid stock purchase contracts, net	57,429			—			—			—			57,429
Proceeds from issuance of TEU amortizing notes	15,738			—			—			—			15,738
Payments for other financing activities	(3,258		)	—			—			—			(3,258		)
Advances to/from subsidiaries	145,332			(145,022		)	(791		)	481			—
Net cash provided by (used in) financing activities	113,367			(146,770		)	(791		)	481			(33,713		)
(Decrease) increase in cash and cash equivalents	35,155			(3,139		)	(2,715		)	481			29,782
Cash and cash equivalents at beginning of period	495,692			11,482			2,915			(2,750		)	507,339
Cash and cash equivalents at end of period	$	530,847		$	8,343		$	200		$	(2,269	)	$	537,121

Discontinued Operations

12 Months Ended

Sep. 30, 2012

Discontinued Operations and Disposal Groups [Abstract]

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.

We have separately classified the results of operations of our discontinued operations in the accompanying consolidated statements of operations for all periods presented. There were no material assets or liabilities related to our discontinued operations as of September 30, 2012 or September 30, 2011. Discontinued operations were not segregated in the consolidated statements of cash flows. Therefore, amounts for certain captions in the consolidated statements of cash flows will not agree with the respective data in the consolidated statements of operations. The results of our discontinued operations in the consolidated statements of operations for the fiscal years ended September 30, 2012, 2011, and 2010 were as follows (in thousands):



	Fiscal Year Ended September 30,
	2012			2011			2010
Total revenue	$	6,029		$	42,806		$	51,856
Home construction and land sales expenses	6,057			38,157			43,374
Inventory impairments and lot option abandonments	579			2,906			2,273
Gross (loss) profit	(607		)	1,743			6,209
Commissions	217			1,167			2,219
General and administrative expenses (a)	9,206			4,270			7,460
Depreciation and amortization	35			455			736
Operating loss	(10,065		)	(4,149		)	(4,206		)
Equity in loss of unconsolidated entities	(37		)	(518		)	(15,543		)
Other (loss) income, net	(1		)	55			437
Loss from discontinued operations before income taxes	(10,103		)	(4,612		)	(19,312		)
(Benefit from) provision for income taxes	(400		)	63			(14,833		)
Loss from discontinued operations, net of tax	$	(9,703	)	$	(4,675	)	$	(4,479	)

(a)

General and administrative expenses for the fiscal year ended September 30, 2012 primarily includes expense for the wind-down of our NW Florida operations, legal fees and potential liability related to outstanding litigation and other matters in Denver, Colorado and legal fees and other expenses related to BMC's settlement agreements related to our prior mortgage operations (see Note 9 for additional information).

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

Cash and Cash Equivalents and Restricted Cash

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-Name Statement of Financial Accounting Standard (FAS)

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+ Details

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Policies)

12 Months Ended

Sep. 30, 2012

Accounting Policies [Abstract]

Presentation

Accounts Receivables

Inventory

Inventory Valuation - Held For Development

Asset Valuation - Land Held for Future Development and Sale


•	management has the authority and commits to a plan to sell the land;


•	the land is available for immediate sale in its present conditions;


•	there is an active program to locate a buyer and the plan to sell the property has been initiated;


•	the sale of the land is probable within one year;


•	the property is being actively marketed at a reasonable sale price relative to its current fair value; and


•	it is unlikely that the plan to sell will be withdrawn or that significant changes to the plan will be made.

Land Not Owned Under Option Agreements

Investments in Unconsolidated Entities

Property, Plant and Equipment

Property, Plant and Equipment. Property, plant and equipment is recorded at cost. Depreciation is computed on a straight-line basis at rates based on estimated useful lives as follows:



Buildings		25 - 30 years
Building improvements		Lesser of estimated useful life of the improvements or remaining useful life of the building
Information systems		Lesser of estimated useful life of the asset or 5 years
Furniture, fixtures, and computer and office equipment		3 - 7 years
Model and sales office improvements		Lesser of estimated useful life of the asset or estimated useful life of the community
Leasehold improvements		Lesser of the lease term or the estimated useful life of the asset

Other Assets

Other Assets. Other assets principally include prepaid expenses, debt issuance costs and deferred compensation plan assets.

Income Taxes

Income Recognition and Classificiation of Costs

Earnings Per Share

Fair Value Measurements

Stock-based Compensation

Use of Estimates

Recent Accounting Pronouncements

Income Taxes (Policies)	12 Months Ended
Income Taxes (Policies)	Sep. 30, 2012
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes. The provision for income taxes is comprised of taxes that are currently payable and deferred taxes that relate to temporary differences between financial reporting carrying values and tax bases of assets and liabilities. Deferred tax assets and liabilities result from deductible or taxable amounts in future years when such assets and liabilities are recovered or settled and are measured using the enacted tax rates and laws that are expected to be in effect when the assets and liabilities are recovered or settled. We include any estimated interest and penalties on tax related matters in income taxes payable. We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition of measurement are recorded in the period in which the change in judgment occurs. We record interest and penalties related to unrecognized tax benefits in income tax expense. A reduction of the carrying amounts of deferred tax assets by a valuation allowance is required if, based on the available evidence, it is more likely than not that such assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is assessed periodically based on the more-likely-than-not realization threshold criterion. In the assessment for a valuation allowance, appropriate consideration is given to all positive and negative evidence related to the realization of the deferred tax assets. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carryforward periods, the Company's experience with loss carryforwards not expiring unused and tax planning alternatives.

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

Schedule of Estimated Useful Lives

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-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 4

-Paragraph 11

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2012

Accounting Policies [Abstract]

Depreciation is computed on a straight-line basis at rates based on estimated useful lives as follows:



Buildings		25 - 30 years
Building improvements		Lesser of estimated useful life of the improvements or remaining useful life of the building
Information systems		Lesser of estimated useful life of the asset or 5 years
Furniture, fixtures, and computer and office equipment		3 - 7 years
Model and sales office improvements		Lesser of estimated useful life of the asset or estimated useful life of the community
Leasehold improvements		Lesser of the lease term or the estimated useful life of the asset

Property, plant and equipment consists of (in thousands):



	Fiscal Year Ended September 30,
	2012			2011
Buildings and improvements	$	2,329		$	2,329
Model and sales office improvements	31,188			36,364
Leasehold improvements	4,456			4,609
Information systems	20,671			19,970
Furniture, fixtures and office equipment	15,528			15,405
Property, plant and equipment, gross	74,172			78,677
Less: Accumulated Depreciation	(55,198		)	(56,064		)
Property, plant and equipment, net	$	18,974		$	22,613

Other Liabilities

Other liabilities include the following:



(In thousands)	September 30, 2012		September 30, 2011
Income tax liabilities	$	22,225	$	55,093
Accrued warranty expenses	15,477		17,916
Accrued interest	28,673		39,478
Accrued and deferred compensation	24,612		27,427
Customer deposits	8,830		5,868
Other	47,901		66,405
Total	$	147,718	$	212,187

Equity Method Investments and Joint Ventures [Abstract]

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details

Investments in Unconsolidated Entities (Tables)

12 Months Ended

Sep. 30, 2012

Investments in unconsolidated joint ventures, total equity and outstanding borrowings

The following table presents our investment in our unconsolidated entities, the total equity and outstanding borrowings of these unconsolidated entities, and our guarantees of these borrowings, as of September 30, 2012 and September 30, 2011:



(In thousands)	September 30, 2012		September 30, 2011
Beazer’s investment in unconsolidated entities	$	42,078	$	9,467
Total equity of unconsolidated entity	383,482		96,966
Total outstanding borrowings of unconsolidated entities	64,912		394,414
Beazer’s estimate of its maximum exposure to our repayment guarantees	696		17,916



	Fiscal Year Ended September 30,
(In thousands)	2012			2011			2010
Continuing operations:
Income from unconsolidated entity activity	$	304		$	652		$	10
Impairment of unconsolidated entity investment	—			(92		)	(8,817		)
Equity in income (loss) of unconsolidated entities - continuing operations	$	304		$	560		$	(8,807	)
Reported in loss from discontinued operations, net of tax:
Loss from unconsolidated entity activity	$	(1	)	$	(16	)	$	(32	)
Impairment of unconsolidated entity investment	(36		)	(502		)	(15,511		)
Equity in loss of unconsolidated entities - discontinued operations	$	(37	)	$	(518	)	$	(15,543	)

Schedule of Total Owned Inventory, by Segment

Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available.

+ References+ Details

Inventory (Tables)

12 Months Ended

Sep. 30, 2012

Real Estate [Abstract]

Schedule of Inventory



(In thousands)	September 30, 2012		September 30, 2011
Homes under construction	$	251,828	$	277,331
Development projects in progress	391,019		424,055
Land held for future development	367,102		384,761
Land held for sale	10,149		12,837
Capitalized interest	38,190		45,973
Model homes	40,844		47,423
Total owned inventory	$	1,099,132	$	1,192,380

Total owned inventory, by reportable segment, is set forth in the table below. Inventory located in California, the state with our largest concentration of inventory, was $350.9 million and $367.8 million at September 30, 2012 and 2011, respectively



(In thousands)	Projects in Progress		Held for Future Development		Land Held for Sale		Total Owned Inventory
September 30, 2012
West Segment	$	261,239	$	318,351	$	2,553	$	582,143
East Segment	279,954		25,130		3,204		308,288
Southeast Segment	118,853		23,621		1,675		144,149
Unallocated & Other	61,835		—		2,717		64,552
Total	$	721,881	$	367,102	$	10,149	$	1,099,132
September 30, 2011
West Segment	$	294,208	$	318,732	$	2,681	$	615,621
East Segment	304,648		41,993		5,056		351,697
Southeast Segment	122,126		24,036		75		146,237
Unallocated & Other	73,800		—		5,025		78,825
Total	$	794,782	$	384,761	$	12,837	$	1,192,380

Recoverability Schedule of Inventory assets Held for Development, by Reportable Segment

The following tables represent the results, by reportable segment of our community level review of the recoverability of our inventory assets held for development as of September 30, 2012, 2011, and 2010 ($ in thousands). 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. The aggregate undiscounted cash flow fair value as a percentage of book value for the communities represented below is consistent with our expectations given our “watch list” methodology.



		Undiscounted Cash Flow Analyses Prepared
Segment	# of Communities on Watch List	# of Communities	Pre-analysis Book Value (BV)		Aggregate Undiscounted Cash Flow as a % of BV
Year Ended September 30, 2012
West	14	8	$	28,467	94.7	%
East	12	8	30,052		91.8	%
Southeast	5	3	9,247		116.5	%
Unallocated	—	—	5,193		100.0	%
Total	31	19	$	72,959	96.7	%

Year Ended Ended September 30, 2011
West	18	15	$	58,848	88.4	%
East	7	5	16,436		94.6	%
Southeast	4	3	11,017		60.3	%
Unallocated	1	—	9,707		100.0	%
Total	30	23	$	96,008	87.4	%

Year Ended September 30, 2010
West	20	20	$	80,270	90.8	%
East	12	10	43,655		79.7	%
Southeast	6	5	16,394		80.8	%
Discontinued Operations	5	5	7,882		93.8	%
Unallocated	—	—	13,728		100.0	%
Total	43	40	$	161,929	87.7	%

Summary of Discounted Cash Flow Analysis



($ in thousands)	Results of Discounted Cash Flow Analyses Prepared
Segment	# of Communities Impaired	# of Lots Impaired	Impairment Charge		Estimated Fair Value of Impaired Inventory at Period End
Year Ended September 30, 2012
West	2	116	$	3,902	$	11,058
East	2	93	4,316		7,342
Southeast	1	37	796		2,457
Unallocated	—	—	473		—
Continuing Operations	5	246	9,487		20,857
Discontinued Operations	—	—	60		—
Total	5	246	$	9,547	$	20,857

Year Ended Ended September 30, 2011
West	12	859	$	20,150	$	33,066
East	4	86	1,611		10,671
Southeast	3	278	5,182		6,022
Unallocated	—	—	2,362		—
Continuing Operations	19	1,223	29,305		49,759
Discontinued Operations	—	—	276		—
Total	19	1,223	$	29,581	$	49,759

Year Ended September 30, 2010
West	14	618	$	18,056	$	38,830
East	6	847	18,703		17,020
Southeast	5	362	7,510		10,984
Unallocated	—	—	3,404		—
Continuing Operations	25	1,827	47,673		66,834
Discontinued Operations	4	68	1,244		5,972
Total	29	1,895	$	48,917	$	72,806

Schedule of Inventory Impairments and Lot Option Abandonment Charges, by Reportable Homebuilding Segment



	Fiscal Year Ended September 30,
	2012		2011			2010
Development projects and homes in process (Held for Development)
West	$	3,902	$	20,150		18,056
East	4,316		1,611			18,703
Southeast	796		5,182			7,510
Unallocated	473		2,362			3,404
Subtotal	$	9,487	$	29,305		$	47,673
Land Held for Sale
West	$	—	$	(51	)	1,061
East	100		193			—
Southeast	208		169			—
Subtotal	$	308	$	311		$	1,061
Lot Option Abandonments
West	$	301	$	405		783
East	1,320		2,048			35
Southeast	792		390			14
Unallocated	2		—			—
Subtotal	$	2,415	$	2,843		$	832
Continuing Operations	$	12,210	$	32,459		$	49,566
Discontinued Operations
Held for Development	$	60	$	276		1,244
Land Held for Sale	503		78			1,003
Lot Option Abandonments	16		2,552			26
Subtotal	$	579	$	2,906		$	2,273
Total Company	$	12,789	$	35,365		$	51,839

Summary of Interests in Lot Option Agreements

The following provides a summary of our interests in lot option agreements as of September 30, 2012 and September 30, 2011 (in thousands):



	Deposits & Non-refundable Preacquisition Costs Incurred		Remaining Obligation		Land Not Owned - Under Option Agreements
As of September 30, 2012
Consolidated VIEs	$	7,203	$	3,346	$	10,549
Other consolidated lot option agreements (a)	430		1,441		$	1,871
Unconsolidated lot option agreements	17,290		193,711		—
Total lot option agreements	$	24,923	$	198,498	$	12,420
As of September 30, 2011
Consolidated VIEs	$	6,201	$	1,214	$	7,415
Other consolidated lot option agreements (a)	164		4,175		4,338
Unconsolidated lot option agreements	13,732		219,841		—
Total lot option agreements	$	20,097	$	225,230	$	11,753


(a)	Represents lot option agreements with non-VIE entities that we have deemed to be “financing arrangements” pursuant to ASC 470-40, Product Financing Arrangements.

Property, Plant and Equipment (Tables)

12 Months Ended

Sep. 30, 2012

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Depreciation is computed on a straight-line basis at rates based on estimated useful lives as follows:



Buildings		25 - 30 years
Building improvements		Lesser of estimated useful life of the improvements or remaining useful life of the building
Information systems		Lesser of estimated useful life of the asset or 5 years
Furniture, fixtures, and computer and office equipment		3 - 7 years
Model and sales office improvements		Lesser of estimated useful life of the asset or estimated useful life of the community
Leasehold improvements		Lesser of the lease term or the estimated useful life of the asset

Property, plant and equipment consists of (in thousands):



	Fiscal Year Ended September 30,
	2012			2011
Buildings and improvements	$	2,329		$	2,329
Model and sales office improvements	31,188			36,364
Leasehold improvements	4,456			4,609
Information systems	20,671			19,970
Furniture, fixtures and office equipment	15,528			15,405
Property, plant and equipment, gross	74,172			78,677
Less: Accumulated Depreciation	(55,198		)	(56,064		)
Property, plant and equipment, net	$	18,974		$	22,613

Schedule of long-term debt

+ References+ Details

Borrowings (Tables)

12 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

At September 30, 2012 and September 30, 2011 we had the following long-term debt (in thousands):



	Maturity Date	2012			2011
6 7/8% Senior Notes	July 2015	$	172,454		$	172,454
8 1/8% Senior Notes	June 2016	172,879			172,879
12% Senior Secured Notes	October 2017	—			250,000
6 5/8% Senior Secured Notes	April 2018	300,000			—
9 1/8% Senior Notes	June 2018	300,000			300,000
9 1/8% Senior Notes	May 2019	235,000			250,000
TEU Senior Amortizing Notes	August 2013	316			10,062
TEU Senior Amortizing Notes	August 2015	23,500			—
Unamortized debt discounts		(3,082		)	(23,243		)
Total Senior Notes, net		1,201,067			1,132,152
Mandatory Convertible Subordinated Notes	January 2013	9,402			57,500
Junior subordinated notes	July 2036	51,603			49,537
Cash Secured Loan	November 2017	227,368			247,368
Other secured notes payable	Various Dates	8,758			2,269
Total debt, net		$	1,498,198		$	1,488,826

Schedule of Maturities of Long-term Debt



Fiscal Year Ended September 30,
2013	$	7,742
2014	8,155
2015	181,089
2016	173,109
2017	—
Thereafter	1,170,953
Total	$	1,541,048

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Schedule of Components of Income Tax Expense (Benefit)

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

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-Section 55

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-Subparagraph (SX 210.5-02.22)

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-Name Regulation S-X (SX)

-Number 210

-Section 02

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-Article 5

Reference 7: http://www.xbrl.org/2003/role/presentationRef

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Reference 11: http://www.xbrl.org/2003/role/presentationRef

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-Paragraph 1

-Subparagraph (SX 210.4-08.(e),(f))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2012

Income Tax Disclosure [Abstract]

The provision (benefit) for income taxes from continuing operations consists of the following (in thousands):



	Fiscal Year Ended September 30,
	2012			2011			2010
Current federal	$	(34,242	)	$	(1,963	)	$	(4,528	)
Current state	(143		)	319			65
Deferred federal	(5,964		)	3,728			(114,151		)
Deferred state	2			1,282			259
Total	$	(40,347	)	$	3,366		$	(118,355	)

Schedule of Effective Income Tax Rate Reconciliation

The provision (benefit) for income taxes from continuing operations differs from the amount computed by applying the federal income tax statutory rate as follows (in thousands):



	Fiscal Year Ended September 30,
	2012			2011			2010
Income tax computed at statutory rate	$	(61,590	)	$	(68,886	)	$	(51,774	)
State income taxes, net of federal benefit	(6,055		)	(4,613		)	(5,756		)
Valuation allowance	59,601			74,047			(65,689		)
(Decrease) increase in unrecognized tax benefits	(32,441		)	1,511			3,108
Other, net	138			1,307			1,756
Total	$	(40,347	)	$	3,366		$	(118,355	)

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant temporary differences that give rise to the net deferred tax assets are as follows (in thousands):



	September 30, 2012			September 30, 2011
Deferred tax assets:
Warranty and other reserves	$	12,408		$	11,752
Incentive compensation	16,285			15,338
Property, equipment and other assets	2,647			2,734
Federal and state tax carryforwards	365,283			305,909
Inventory adjustments	133,843			143,746
Uncertain tax positions	16,331			45,303
Other	4,285			11,315
Total deferred tax assets	551,082			536,097
Deferred tax liabilities:
Deferred revenues	(56,017		)	(54,052		)
Total deferred tax liabilities	(56,017		)	(54,052		)
Net deferred tax assets before valuation allowance	495,065			482,045
Valuation allowance	(488,217		)	(479,285		)
Net deferred tax assets	$	6,848		$	2,760

Considering the limitation imposed by Section 382, the table below depicts the classifications of our deferred tax assets:



	September 30, 2012
	(in thousands)
Deferred tax assets:
Subject to annual limitation	$	87,441
Generally not subject to annual limitation	345,839
Certain components likely to be subject to annual limitation	117,802
Total deferred tax assets	551,082
Deferred tax liabilities	(56,017		)
Net deferred tax assets before valuation allowance	495,065
Valuation allowance	(488,217		)
Net deferred tax assets	$	6,848

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits at the beginning and end of fiscal 2012, 2011 and 2010 is as follows (in thousands):



	Fiscal Year Ended September 30,
	2012			2011			2010
Balance at beginning of year	$	46,648		$	47,271		$	41,848
Additions for (reductions in) tax positions related to current year	903			(1,624		)	(3,435		)
Additions for tax positions related to prior years	—			1,563			11,533
Reductions for tax positions of prior years	(27,181		)	(252		)	(289		)
Settlements with taxing authorities	—			(310		)	(319		)
Lapse of statute of limitations	(740		)	—			(2,067		)
Balance at end of year	$	19,630		$	46,648		$	47,271

Contingencies (Tables)

12 Months Ended

Sep. 30, 2012

Commitments and Contingencies Disclosure [Abstract]

Warranty reserves

Our warranty reserves are as follows (in thousands):



	Fiscal Year Ended September 30,
	2012			2011			2010
Balance at beginning of period	$	17,916		$	25,821		$	30,100
Accruals for warranties issued	6,540			5,665			6,827
Changes in liability related to warranties existing in prior periods	(2,677		)	(2,790		)	3,308
Payments made	(6,302		)	(10,780		)	(14,414		)
Balance at end of period	$	15,477		$	17,916		$	25,821

Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Schedule of fair value assets measured on a non-recurring basis



	Level 1	Level 2	Level 3	Total
Year Ended September 30, 2012
Development projects in progress	—	—	20,857	20,857
Land held for sale	—	—	1,973	1,973
Year Ended September 30, 2011
Development projects in progress	—	—	49,759	49,759
Right to purchase land	—	—	11,651	11,651

Schedule of carrying values and estimated fair values of other financial assets and liabilities

The carrying values and estimated fair values of other financial assets and liabilities were as follows (in thousands):



	As of September 30, 2012				As of September 30, 2011
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior Notes	$	1,201,067	$	1,228,745	$	1,132,152	$	856,634
Mandatory Convertible Subordinated Notes	9,402		7,465		57,500		22,747
Junior Subordinated Notes	51,603		51,603		49,537		49,537
	$	1,262,072	$	1,287,813	$	1,239,189	$	928,918

Retirement Plan and Incentive Awards [Abstract]

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References+ Details

Retirement Plan and Incentive Awards (Tables)

12 Months Ended

Sep. 30, 2012

Schedule of Stock Options and SSARs Outstanding, and Related Activity

The following table summarizes stock options and SSARs outstanding as of September 30 and activity during the fiscal years ended September 30:



	2012				2011				2010
	Shares		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price
Outstanding at beginning of period	375,248		$	48.85	515,671		$	113.45	421,783		$	165.35
Granted	109,507		10.80		150,853		23.45		201,229		28.45
Expired	(10,948	)	82.51		(148,393	)	270.10		(6,396	)	137.55
Canceled/exchanged	—				—		—		(93,187	)	165.20
Forfeited	(43,834	)	24.13		(142,883	)	25.45		(7,758	)	90.80
Outstanding at end of period	429,973		$	40.80	375,248		$	48.85	515,671		$	113.45
Exercisable at end of period	247,588		$	58.61	163,076		$	64.65	154,132		$	207.95
Vested or expected to vest in the future	428,597		$	40.88	367,693		$	49.30	460,587		$	102.75

Schedule of Assumptions for Stock Options Granted During Period

The fair value of each grant is estimated on the date of grant using the Black-Scholes option-pricing model based on the following assumptions:



	2012			2011			2010
Expected life of options	5.0 years			4.8 years			4.8 years
Expected volatility	44.77		%	51.70		%	50.00		%
Expected discrete dividends	—			—			—
Weighted average risk-free interest rate	0.90		%	1.22		%	2.33		%
Weighted average fair value	$	4.30		$	10.50		$	12.75

Schedule of Stock Options and SSARS Outstanding and Exercisable

The following table summarizes information about stock options and SSARs outstanding and exercisable at September 30, 2012:



	Stock Options/SSARs Outstanding				Stock Options/SSARs Exercisable
Range of Exercise Price	Number Outstanding	Weighted Average Contractual Remaining Life (Years)	Weighted Average Exercise Price		Number Exercisable	Weighted Average Contractual Remaining Life (Years)	Weighted Average Exercise Price

$1 - $20	274,381	5.48	$	17.04	121,317	3.10	$	15.79
$21 - $75	92,673	4.61	28.45		63,352	4.61	28.45
$76 - $150	7,703	0.32	96.45		7,703	0.32	96.45
$151 - $220	55,216	1.57	171.87		55,216	1.57	171.87
$1 - $220	429,973	4.70	$	40.80	247,588	3.06	$	58.61

Schedule of Nonvested Stock Awards and Performance Shares

Activity relating to nonvested stock awards, including the Performance Shares for the fiscal years ended September 30, 2012, 2011 and 2010 is as follows:



	Year Ended September 30, 2012				Year Ended September 30, 2011				Year Ended September 30, 2010
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Beginning of period	288,079		$	33.85	367,997		$	72.05	225,376		$	138.30
Granted	179,913		7.19		150,853		23.45		201,229		28.45
Vested	(88,497	)	34.20		(82,740	)	104.70		(40,303	)	166.05
Returned (a)	—		—		(10,502	)	342.80		—		—
Forfeited	(56,160	)	29.97		(137,529	)	58.50		(18,305	)	201.95
End of period	323,335		$	19.61	288,079		$	33.85	367,997		$	72.05

(a) Our former Chief Executive Offer returned 10,502 shares of unvested restricted stock in accordance with this agreement with the Securities and Exchange Commission.

Schedule of segment reporting information

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References+ Details

Segment Information (Tables)

12 Months Ended

Sep. 30, 2012

Segment Reporting [Abstract]

The following information is in thousands:



	Fiscal Year Ended September 30,
	2012		2011		2010
Revenue
West	$	391,648	$	233,133	$	364,530
East	402,466		343,826		451,162
Southeast	210,449		165,107		175,460
Pre-Owned	1,114		339		—
Continuing Operations	$	1,005,677	$	742,405	$	991,152



	Fiscal Year Ended September 30,
	2012			2011			2010
Operating income/(loss)
West	$	15,147		$	(28,406	)	$	1,120
East	9,152			11,611			11,329
Southeast	14,815			(2,740		)	(130		)
Pre-Owned	(229		)	(724		)	—
Segment total	38,885			(20,259		)	12,319
Corporate and unallocated (a)	(100,943		)	(111,986		)	(125,753		)
Total operating loss	(62,058		)	(132,245		)	(113,434		)
Equity in income (loss) of unconsolidated entities	304			560			(8,807		)
(Loss) gain on extinguishment of debt	(45,097		)	(2,909		)	43,901
Other expense, net (d)	(69,119		)	(62,224		)	(69,585		)
Loss from continuing operations before income taxes	$	(175,970	)	$	(196,818	)	$	(147,925	)



	Fiscal Year Ended September 30,
	2012		2011		2010
Depreciation and amortization
West	$	4,980	$	3,651	$	5,161
East	3,536		2,621		3,665
Southeast	1,710		885		1,496
Pre-Owned	330		69		—
Segment total	10,556		7,226		10,322
Corporate and unallocated (a)	2,954		3,027		2,347
Continuing Operations	$	13,510	$	10,253	$	12,669



	Fiscal Year Ended September 30,
	2012		2011		2010
Capital Expenditures
West	$	3,031	$	4,041	$	3,939
East	3,532		2,051		1,734
Southeast	1,814		1,631		1,184
Pre-Owned (b)	7,933		11,415		—
Corporate and unallocated	1,053		1,376		3,992
Consolidated total	$	17,363	$	20,514	$	10,849



	September 30, 2012		September 30, 2011
Assets
West	$	618,805	$	649,057
East	320,404		372,984
Southeast	160,868		162,135
Pre-Owned (b)	—		12,315
Corporate and unallocated (c)	882,141		780,986
Consolidated total	$	1,982,218	$	1,977,477

(a)


(b)	Pre-owned assets included the cost of previously owned homes, net of accumulated depreciation, totaling $11.3 million (120 homes) as of September 30, 2011. Capital expenditures represent the purchase of previously owned homes through May 2, 2012 and September 30, 2011, respectively.


(c)	Primarily consists of cash and cash equivalents, consolidated inventory not owned, deferred taxes, capitalized interest and other items that are not allocated to the segments.


(d)	The fiscal year ended September 30, 2011, includes an $8.3 million benefit related to the cash reimbursements from our former CEO and former CFO in connection with their consent agreements with the Securities and Exchange Commission.

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Supplemental Guarantor Information (Tables)

12 Months Ended

Sep. 30, 2012

Consolidating Balance Sheet Information



	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	481,394	$	8,215	$	646	$	(2,460	)	$	487,795
Restricted cash	252,900		360		—		—			253,260
Accounts receivable (net of allowance of $2,235)	—		24,594		5		—			24,599
Income tax receivable	6,372		—		—		—			6,372
Owned inventory	—		1,099,132		—		—			1,099,132
Consolidated inventory not owned	—		12,420		—		—			12,420
Investments in unconsolidated entities	773		41,305		—		—			42,078
Deferred tax assets, net	6,848		—		—		—			6,848
Property, plant and equipment, net	—		18,974		—		—			18,974
Previously owned rental homes, net	—		—		—		—			—
Investments in subsidiaries	63,120		—		—		(63,120		)	—
Intercompany	969,425		—		3,001		(972,426		)	—
Other assets	21,307		7,783		1,650		—			30,740
Total assets	$	1,802,139	$	1,212,783	$	5,302	$	(1,038,006	)	$	1,982,218
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	69,268	$	—	$	—		$	69,268
Other liabilities	49,354		96,389		1,975		—			147,718
Intercompany	1,098		973,788		—		$	(974,886	)	—
Obligations related to land not owned under option agreements	—		4,787		—		—			4,787
Total debt (net of discounts of $3,082)	1,489,440		8,758		—		—			1,498,198
Total liabilities	1,539,892		1,152,990		1,975		$	(974,886	)	1,719,971
Stockholders’ equity	262,247		59,793		3,327		(63,120		)	262,247
Total liabilities and stockholders’ equity	$	1,802,139	$	1,212,783	$	5,302	$	(1,038,006	)	$	1,982,218



	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	360,723	$	10,488	$	418	$	(1,226	)	$	370,403
Restricted cash	276,678		380		—		—			277,058
Accounts receivable (net of allowance of $3,872)	—		28,292		11		—			28,303
Income tax receivable	4,823		—		—		—			4,823
Owned inventory	—		1,192,380		—		—			1,192,380
Consolidated inventory not owned	—		11,753		—		—			11,753
Investments in unconsolidated entities	773		8,694		—		—			9,467
Deferred tax assets	2,760		—		—		—			2,760
Property, plant and equipment, net	—		22,613		—		—			22,613
Previously owned rental homes, net	—		11,347		—		—			11,347
Investments in subsidiaries	100,996		—		—		(100,996		)	—
Intercompany	1,013,753		—		4,773		(1,018,526		)	—
Other assets	18,550		25,190		2,830		—			46,570
Total assets	$	1,779,056	$	1,311,137	$	8,032	$	(1,120,748	)	$	1,977,477
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	72,695	$	—	$	—		$	72,695
Other liabilities	93,047		116,210		2,930		—			212,187
Intercompany	1,072		1,018,680		—		(1,019,752		)	—
Obligations related to consolidated inventory not owned	—		5,389		—		—			5,389
Total debt (net of discounts of $23,243)	1,486,557		2,269		—		—			1,488,826
Total liabilities	1,580,676		1,215,243		2,930		(1,019,752		)	1,779,097
Stockholders’ equity	198,380		95,894		5,102		(100,996		)	198,380
Total liabilities and stockholders’ equity	$	1,779,056	$	1,311,137	$	8,032	$	(1,120,748	)	$	1,977,477

Consolidating Statement of Operations Information



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2012
Total revenue	$	—		$	1,005,677		$	941		$	(941	)	$	1,005,677
Home construction and land sales expenses	60,952			828,368			—			(941		)	888,379
Inventory impairments and option contract abandonments	275			11,935			—			—			12,210
Gross (loss) profit	(61,227		)	165,374			941			—			105,088
Commissions	—			43,585			—			—			43,585
General and administrative expenses	—			109,937			114			—			110,051
Depreciation and amortization	—			13,510			—			—			13,510
Operating (loss) income	(61,227		)	(1,658		)	827			—			(62,058		)
Equity in loss of unconsolidated entities	—			304			—			—			304
Loss on extinguishment of debt	(45,097		)	—			—			—			(45,097		)
Other (expense) income, net	(71,474		)	2,328			27			—			(69,119		)
(Loss) income before income taxes	(177,798		)	974			854			—			(175,970		)
(Benefit from) provision for income taxes	(68,026		)	27,380			299			—			(40,347		)
Equity in loss of subsidiaries	(25,851		)	—			—			25,851			—
(Loss) income from continuing operations	(135,623		)	(26,406		)	555			25,851			(135,623		)
Loss from discontinued operations	—			(9,695		)	(8		)				(9,703		)
Equity in loss of subsidiaries	(9,703		)	—			—			9,703			—
Net (loss) income	$	(145,326	)	$	(36,101	)	$	547		$	35,554		$	(145,326	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2011
Total revenue	$	—		$	742,405		$	1,102		$	(1,102	)	$	742,405
Home construction and land sales expenses	46,382			616,571			—			(1,102		)	661,851
Inventory impairments and option contract abandonments	1,907			30,552			—			—			32,459
Gross (loss) profit	(48,289		)	95,282			1,102			—			48,095
Commissions	—			32,711			—			—			32,711
General and administrative expenses	—			137,261			115			—			137,376
Depreciation and amortization	—			10,253			—			—			10,253
Operating (loss) income	(48,289		)	(84,943		)	987			—			(132,245		)
Equity in income of unconsolidated entities	—			560			—			—			560
Loss on extinguishment of debt	(2,909		)	—			—			—			(2,909		)
Other (expense) income, net	(73,440		)	11,145			71			—			(62,224		)
(Loss) income before income taxes	(124,638		)	(73,238		)	1,058			—			(196,818		)
(Benefit from) provision for income taxes	(46,540		)	49,536			370			—			3,366
Equity in loss of subsidiaries	(122,086		)	—			—			122,086			—
(Loss) income from continuing operations	(200,184		)	(122,774		)	688			122,086			(200,184		)
Loss from discontinued operations	—			(4,672		)	(3		)	—			(4,675		)
Equity in loss of subsidiaries	(4,675		)	—			—			4,675			—
Net (loss) income	$	(204,859	)	$	(127,446	)	$	685		$	126,761		$	(204,859	)

Beazer Homes USA, Inc.

Consolidating Statement of Operations Information

(in thousands)



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2010
Total revenue	$	—		$	989,350		$	1,802		$	—		$	991,152
Home construction and land sales expenses	52,243			805,714			—			—			857,957
Inventory impairments and option contract abandonments	2,313			47,253			—			—			49,566
Gross (loss) profit	(54,556		)	136,383			1,802			—			83,629
Commissions	—			43,279			—			—			43,279
General and administrative expenses	—			141,005			110			—			141,115
Depreciation and amortization	—			12,669			—			—			12,669
Operating (loss) income	(54,556		)	(60,570		)	1,692			—			(113,434		)
Equity in loss of unconsolidated entities	—			(8,807		)	—			—			(8,807		)
Gain on extinguishment of debt	43,625			276			—			—			43,901
Other (expense) income, net	(74,215		)	4,551			79			—			(69,585		)
(Loss) income before income taxes	(85,146		)	(64,550		)	1,771			—			(147,925		)
(Benefit from) provision for income taxes	(32,143		)	(86,832		)	620			—			(118,355		)
Equity in income of subsidiaries	23,433			—			—			(23,433		)	—
(Loss) income from continuing operations	(29,570		)	22,282			1,151			(23,433		)	(29,570		)
Loss from discontinued operations	—			(4,474		)	(5		)	—			(4,479		)
Equity in loss of subsidiaries	(4,479		)	—			—			4,479			—
Net (loss) income	$	(34,049	)	$	17,808		$	1,146		$	(18,954	)	$	(34,049	)

Consolidating Statements of Cash Flow Information



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2012
Net cash (used in) provided by operating activities	$	(110,429	)	$	88,806		$	778		$	—		$	(20,845	)
Cash flows from investing activities:
Capital expenditures	—			(17,363		)	—			—			(17,363		)
Investments in unconsolidated entities	—			(2,407		)	—			—			(2,407		)
Return of capital from unconsolidated entities	—			610			—			—			610
Increases in restricted cash	(2,100		)	(1,160		)	—			—			(3,260		)
Decreases in restricted cash	25,919			1,139			—			—			27,058
Net cash provided by (used in) investing activities	23,819			(19,181		)	—			—			4,638
Cash flows from financing activities:
Repayment of debt	(309,063		)	(1,324		)	—			—			(310,387		)
Proceeds from issuance of new debt	300,000			—			—			—			300,000
Debt issuance costs	(10,845		)	—			—			—			(10,845		)
Proceeds from issuance of common stock	60,340			—			—			—			60,340
Proceeds from issuance of TEU prepaid stock purchase contracts, net	88,361			—			—			—			88,361
Proceeds from issuance of TEU amortizing notes	23,500			—			—			—			23,500
Settlement of unconsolidated entity debt obligations	(15,862		)	—			—			—			(15,862		)
Payments for other financing activities	(1,508		)	—			—			—			(1,508		)
Dividends paid	2,300			—			(2,300		)	—			—
Advances to/from subsidiaries	70,058			(70,574		)	1,750			(1,234		)	—
Net cash provided by (used in) financing activities	207,281			(71,898		)	(550		)	(1,234		)	133,599
(Decrease) increase in cash and cash equivalents	120,671			(2,273		)	228			(1,234		)	117,392
Cash and cash equivalents at beginning of period	360,723			10,488			418			(1,226		)	370,403
Cash and cash equivalents at end of period	$	481,394		$	8,215		$	646		$	(2,460	)	$	487,795
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2011
Net cash (used in) provided by operating activities	$	(53,850	)	$	(126,090	)	$	1,004		$	—		$	(178,936	)
Cash flows from investing activities:
Capital expenditures	—			(20,514		)	—			—			(20,514		)
Investments in unconsolidated entities	—			(1,924		)	—			—			(1,924		)
Increases in restricted cash	(249,728		)	(1,111		)	—			—			(250,839		)
Decreases in restricted cash	11,832			1,149			—			—			12,981
Net cash used in investing activities	(237,896		)	(22,400		)	—			—			(260,296		)
Cash flows from financing activities:
Repayment of debt	(214,005		)	(1,371		)	—			—			(215,376		)
Proceeds from issuance of new debt	246,387			—			—			—			246,387
Proceeds from issuance of cash secured loan	247,368			—			—			—			247,368
Debt issuance costs	(5,172		)	—			—			—			(5,172		)
Payments for other financing activities	(693		)	—			—			—			(693		)
Dividends paid	850			—			(850		)	—			—
Advances to/from subsidiaries	(153,113		)	152,006			64			1,043			—
Net cash provided by (used in) financing activities	121,622			150,635			(786		)	1,043			272,514
(Decrease) increase in cash and cash equivalents	(170,124		)	2,145			218			1,043			(166,718		)
Cash and cash equivalents at beginning of period	530,847			8,343			200			(2,269		)	537,121
Cash and cash equivalents at end of period	$	360,723		$	10,488		$	418		$	(1,226	)	$	370,403

Beazer Homes USA, Inc.

Consolidating Statements of Cash Flow Information

(in thousands)



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2010
Net cash (used in) provided by operating activities	$	(88,344	)	$	159,953		$	(1,924	)	$	—		$	69,685
Cash flows from investing activities:
Capital expenditures	—			(10,849		)	—			—			(10,849		)
Investments in unconsolidated entities	—			(5,602		)	—			—			(5,602		)
Increases in restricted cash	(36,345		)	(1,094		)	—			—			(37,439		)
Decreases in restricted cash	46,477			1,223			—			—			47,700
Net cash used in investing activities	10,132			(16,322		)	—			—			(6,190		)
Cash flows from financing activities:
Repayment of debt	(616,858		)	(2,948		)	—			—			(619,806		)
Proceeds from issuance of new debt	357,500			1,200			—			—			358,700
Debt issuance costs	(9,234		)	—			—			—			(9,234		)
Proceeds from issuance of common stock, net	166,718			—			—			—			166,718
Proceeds from issuance of TEU prepaid stock purchase contracts, net	57,429			—			—			—			57,429
Proceeds from issuance of TEU amortizing notes	15,738			—			—			—			15,738
Payments for other financing activities	(3,258		)	—			—			—			(3,258		)
Advances to/from subsidiaries	145,332			(145,022		)	(791		)	481			—
Net cash provided by (used in) financing activities	113,367			(146,770		)	(791		)	481			(33,713		)
(Decrease) increase in cash and cash equivalents	35,155			(3,139		)	(2,715		)	481			29,782
Cash and cash equivalents at beginning of period	495,692			11,482			2,915			(2,750		)	507,339
Cash and cash equivalents at end of period	$	530,847		$	8,343		$	200		$	(2,269	)	$	537,121

Discontinued Operations (Tables)

12 Months Ended

Sep. 30, 2012

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Results of Discontinued Operations

The results of our discontinued operations in the consolidated statements of operations for the fiscal years ended September 30, 2012, 2011, and 2010 were as follows (in thousands):



	Fiscal Year Ended September 30,
	2012			2011			2010
Total revenue	$	6,029		$	42,806		$	51,856
Home construction and land sales expenses	6,057			38,157			43,374
Inventory impairments and lot option abandonments	579			2,906			2,273
Gross (loss) profit	(607		)	1,743			6,209
Commissions	217			1,167			2,219
General and administrative expenses (a)	9,206			4,270			7,460
Depreciation and amortization	35			455			736
Operating loss	(10,065		)	(4,149		)	(4,206		)
Equity in loss of unconsolidated entities	(37		)	(518		)	(15,543		)
Other (loss) income, net	(1		)	55			437
Loss from discontinued operations before income taxes	(10,103		)	(4,612		)	(19,312		)
(Benefit from) provision for income taxes	(400		)	63			(14,833		)
Loss from discontinued operations, net of tax	$	(9,703	)	$	(4,675	)	$	(4,479	)

(a)

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details

Summary of Significant Accounting Policies (Details) (USD $) Share data in Millions, unless otherwise specified	12 Months Ended
	Sep. 30, 2012 state	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2009
Summary of Significant Accounting Policies [Line Items]
Number of states with active operations	16
Measurement threshold of likelihood of being realized (percent)	50.00%
Other Liabilities [Abstract]
Income tax liabilities	$ 22,225,000	$ 55,093,000
Accrued warranty expenses	15,477,000	17,916,000	25,821,000	30,100,000
Accrued interest	28,673,000	39,478,000
Accrued and deferred compensation	24,612,000	27,427,000
Customer deposits	8,830,000	5,868,000
Other	47,901,000	66,405,000
Total	147,718,000	212,187,000
Advertising costs	13,500,000	11,400,000	11,200,000
Unrecognized compensation cost	$ 2,100,000	$ 4,000,000
Weighted average period to recognize remaining cost	1 year 4 months 24 days
Minimum
Summary of Significant Accounting Policies [Line Items]
Time to develop, sell, construct and close all houses in typical community	3 years
Other Liabilities [Abstract]
Estimated future warranty costs as a percentage or revenue (percent)	0.10%
Maximum
Summary of Significant Accounting Policies [Line Items]
Time to develop, sell, construct and close all houses in typical community	5 years
Other Liabilities [Abstract]
Estimated future warranty costs as a percentage or revenue (percent)	2.20%
Buildings \| Minimum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	25 years
Buildings \| Maximum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	30 years
Information systems \| Maximum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	5 years
Furniture, Fixtures, Computer and Office Equipment \| Minimum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Furniture, Fixtures, Computer and Office Equipment \| Maximum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	7 years
SSARs and Stock Options
Other Liabilities [Abstract]
Antidilutive securities excluded from computation of earnings per share (shares)	0.4
Convertible Debt Securities
Other Liabilities [Abstract]
Antidilutive securities excluded from computation of earnings per share (shares)	0.4
Equity Unit Purchase Agreements
Other Liabilities [Abstract]
Antidilutive securities excluded from computation of earnings per share (shares)	8.1

Supplemental Cash Flow Information - Supplemental Disclosure of Non-cash Activity (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Supplemental disclosure of non-cash activity:
(Decrease) increase in obligations related to land not owned under option agreements	$ (602)	$ (25,277)	$ 4,310
(Decrease) increase in future land purchase rights	(11,651)	11,651	0
Contribution of future land purchase rights to unconsolidated entities	11,651	0	0
Increase in repayment guarantee obligation	0	15,670	0
Decrease in debt related to conversion of Mandatory Convertible Subordinated Notes and Tangible Equity Units for common stock	(55,308)	0	0
Contribution of pre-owned net assets for investment in unconsolidated entity	(19,670)	0	0
Non-cash land acquisitions	7,813	770	515
Issuance of stock under deferred bonus stock plans	0	101	2,337
Supplemental disclosure of cash activity:
Interest payments	126,313	116,049	113,885
Income tax payments	831	405	655
Tax refunds received	$ 2,568	$ 5,823	$ 135,803

Investments in Unconsolidated Entities (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
Equity Method Investments and Joint Ventures [Abstract]
Beazer's investment in unconsolidated entities	$ 42,078	$ 9,467
Total equity of unconsolidated entity	383,482	96,966
Total outstanding borrowings of unconsolidated entities	64,912	394,414
Beazer's estimate of its maximum exposure to our repayment guarantees	$ 696	$ 17,916

Amount of equity, including noncontrolling interest, reported by an equity method investment of the entity.

+ References+ Details

Investments in Unconsolidated Entities - Income (Loss), Impairments From, and Equity In Investments In Unconsolidated Entities (Details) (USD $)	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2012 Discontinued Operations	Sep. 30, 2011 Discontinued Operations	Sep. 30, 2010 Discontinued Operations	Sep. 30, 2012 South Edge	Sep. 30, 2012 Inspirada	Sep. 30, 2012 the REIT	May 03, 2012 the REIT homes
Schedule of Equity Method Investments [Line Items]
Income from unconsolidated entity activity	$ 304,000	$ 652,000	$ 10,000
Impairment of unconsolidated entity investment	0	(92,000)	(8,817,000)
Equity in income (loss) of unconsolidated entities - continuing operations	304,000	560,000	(8,807,000)
Reported in loss from discontinued operations, net of tax:
Loss from unconsolidated entity activity				(1,000)	(16,000)	(32,000)
Impairment of unconsolidated entity investment				(36,000)	(502,000)	(15,511,000)
Equity in loss of unconsolidated entities - discontinued operations				(37,000)	(518,000)	(15,543,000)
Settlement of unconsolidated entity debt obligation	15,862,000	0	0				15,900,000
(Decrease) increase in future land purchase rights	(11,651,000)	11,651,000	0					11,700,000
Cash and Pre-Owned Homes business contributed										300,000
Number of pre-owned homes										190
Number of pre-owned homes that were leased										187
Beazer homes' ownership interest	100.00%								18.09%	23.50%
Beazer's estimate of its maximum exposure to our repayment guarantees	$ 696,000	$ 17,916,000

Inventory - Schedule of Inventory (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2009
Real Estate [Abstract]
Homes under construction	$ 251,828	$ 277,331
Development projects in progress	391,019	424,055
Land held for future development	367,102	384,761
Land held for sale	10,149	12,837
Capitalized interest	38,190	45,973	36,884	38,338
Model homes	40,844	47,423
Total owned inventory	$ 1,099,132	$ 1,192,380

Carrying amount as of the balance sheet date of capitalized construction costs of homes for future sale.

+ References+ Details

Inventory - Total Owned Inventory by Segment (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
Segment Reporting Information [Line Items]
Projects in progress	$ 721,881	$ 794,782
Land held for future development	367,102	384,761
Land held for sale	10,149	12,837
Total owned inventory	1,099,132	1,192,380
West Segment
Segment Reporting Information [Line Items]
Projects in progress	261,239	294,208
Land held for future development	318,351	318,732
Land held for sale	2,553	2,681
Total owned inventory	582,143	615,621
East Segment
Segment Reporting Information [Line Items]
Projects in progress	279,954	304,648
Land held for future development	25,130	41,993
Land held for sale	3,204	5,056
Total owned inventory	308,288	351,697
Southeast Segment
Segment Reporting Information [Line Items]
Projects in progress	118,853	122,126
Land held for future development	23,621	24,036
Land held for sale	1,675	75
Total owned inventory	144,149	146,237
Unallocated & Other
Segment Reporting Information [Line Items]
Projects in progress	61,835	73,800
Land held for future development	0	0
Land held for sale	2,717	5,025
Total owned inventory	$ 64,552	$ 78,825

Inventory - Recoverability Schedule of Inventory assets Held for Development, by Reportable Segment (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Sep. 30, 2012 Communities	Sep. 30, 2011 Communities	Sep. 30, 2010 Communities
Real Estate Properties [Line Items]
Number of Communities on Watch List	31	30	43
Undiscounted Cash Flow Analysis - Number of Communities	19	23	40
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)	$ 72,959	$ 96,008	$ 161,929
Undiscounted Cash Flow Analysis - Aggregate Undiscounted Cash Flow as a % of BV	96.70%	87.40%	87.70%
Unallocated
Real Estate Properties [Line Items]
Number of Communities on Watch List	0	1	0
Undiscounted Cash Flow Analysis - Number of Communities	0	0	0
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)	5,193	9,707	13,728
Undiscounted Cash Flow Analysis - Aggregate Undiscounted Cash Flow as a % of BV	100.00%	100.00%	100.00%
Continuing Operations \| West
Real Estate Properties [Line Items]
Number of Communities on Watch List	14	18	20
Undiscounted Cash Flow Analysis - Number of Communities	8	15	20
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)	28,467	58,848	80,270
Undiscounted Cash Flow Analysis - Aggregate Undiscounted Cash Flow as a % of BV	94.70%	88.40%	90.80%
Continuing Operations \| East
Real Estate Properties [Line Items]
Number of Communities on Watch List	12	7	12
Undiscounted Cash Flow Analysis - Number of Communities	8	5	10
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)	30,052	16,436	43,655
Undiscounted Cash Flow Analysis - Aggregate Undiscounted Cash Flow as a % of BV	91.80%	94.60%	79.70%
Continuing Operations \| Southeast
Real Estate Properties [Line Items]
Number of Communities on Watch List	5	4	6
Undiscounted Cash Flow Analysis - Number of Communities	3	3	5
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)	9,247	11,017	16,394
Undiscounted Cash Flow Analysis - Aggregate Undiscounted Cash Flow as a % of BV	116.50%	60.30%	80.80%
Discontinued Operations
Real Estate Properties [Line Items]
Number of Communities on Watch List			5
Undiscounted Cash Flow Analysis - Number of Communities			5
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)			$ 7,882
Undiscounted Cash Flow Analysis - Aggregate Undiscounted Cash Flow as a % of BV			93.80%

Inventory - Results of Discounted Cash Flow Analysis (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Sep. 30, 2012 Communities lots	Sep. 30, 2011 Communities lots	Sep. 30, 2010 lots Communities
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired	5	19	29
Number of lots impaired	246	1,223	1,895
Impairment Charges	$ 9,547	$ 29,581	$ 48,917
Estimated fair value of impaired inventory at period end	20,857	49,759	72,806
Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired	5	19	25
Number of lots impaired	246	1,223	1,827
Impairment Charges	9,487	29,305	47,673
Estimated fair value of impaired inventory at period end	20,857	49,759	66,834
Continuing Operations \| West
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired	2	12	14
Number of lots impaired	116	859	618
Impairment Charges	3,902	20,150	18,056
Estimated fair value of impaired inventory at period end	11,058	33,066	38,830
Continuing Operations \| East
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired	2	4	6
Number of lots impaired	93	86	847
Impairment Charges	4,316	1,611	18,703
Estimated fair value of impaired inventory at period end	7,342	10,671	17,020
Continuing Operations \| Southeast
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired	1	3	5
Number of lots impaired	37	278	362
Impairment Charges	796	5,182	7,510
Estimated fair value of impaired inventory at period end	2,457	6,022	10,984
Continuing Operations \| Unallocated
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired	0	0	0
Number of lots impaired	0	0	0
Impairment Charges	473	2,362	3,404
Estimated fair value of impaired inventory at period end	0	0	0
Discontinued Operations
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired	0	0	4
Number of lots impaired	0	0	68
Impairment Charges	60	276	1,244
Estimated fair value of impaired inventory at period end	$ 0	$ 0	$ 5,972

Inventory - Inventory Impairments and Lot Option Abandonment Charges, by Reportable Segment (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	$ 9,547	$ 29,581	$ 48,917
Land Held for Sale	800	400
Inventory impairments and option contract abandonments	12,789	35,365	51,839
Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	9,487	29,305	47,673
Land Held for Sale	308	311	1,061
Lot option abandonments	2,415	2,843	832
Inventory impairments and option contract abandonments	12,210	32,459	49,566
Continuing Operations \| West
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	3,902	20,150	18,056
Land Held for Sale	0	(51)	1,061
Lot option abandonments	301	405	783
Continuing Operations \| East
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	4,316	1,611	18,703
Land Held for Sale	100	193	0
Lot option abandonments	1,320	2,048	35
Continuing Operations \| Southeast
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	796	5,182	7,510
Land Held for Sale	208	169	0
Lot option abandonments	792	390	14
Continuing Operations \| Unallocated
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	473	2,362	3,404
Lot option abandonments	2	0	0
Discontinued Operations
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	60	276	1,244
Land Held for Sale	503	78	1,003
Lot option abandonments	16	2,552	26
Inventory impairments and option contract abandonments	$ 579	$ 2,906	$ 2,273

Inventory - Summary of Interests in Lot Option Agreements (Details) (USD $)
In Thousands, unless otherwise specified

Sep. 30, 2012

Sep. 30, 2011

Deposits and non-refundable preacquisition costs incurred

$ 24,923

$ 20,097

198,498

225,230

12,420

11,753

Consolidated VIEs

Deposits and non-refundable preacquisition costs incurred

7,203

6,201

3,346

1,214

10,549

7,415

Other Consolidated Lot Option Agreements

Deposits and non-refundable preacquisition costs incurred

430

^[1]

164

^[1]

1,441

^[1]

4,175

^[1]

1,871

^[1]

4,338

^[1]

Unconsolidated Lot Option Agreements

Deposits and non-refundable preacquisition costs incurred

17,290

13,732

193,711

219,841

$ 0

[1]	Represents lot option agreements with non-VIE entities that we have deemed to be “financing arrangements” pursuant to ASC 470-40, Product Financing Arrangements.

Inventory - Narrative (Details) (USD $)	12 Months Ended
Inventory - Narrative (Details) (USD $)	Sep. 30, 2012 Communities homes	Sep. 30, 2011 Communities homes	Sep. 30, 2010 Communities
Real Estate Properties [Line Items]
Number of subtantially completed homes not subject to a sales contract	174	334
Total value of substantially completed homes	$ 39,700,000	$ 59,300,000
Owned inventory	1,099,132,000	1,192,380,000
Number of communities impaired	5	19	29
Deposits and non-refundable preacquisition costs incurred	24,923,000	20,097,000
Total remaining purchase price committed under all options	198,498,000	225,230,000
Minimum
Real Estate Properties [Line Items]
Discount rate	11.20%	12.60%
Maximum
Real Estate Properties [Line Items]
Discount rate	17.00%	18.20%
CALIFORNIA
Real Estate Properties [Line Items]
Owned inventory	$ 350,900,000	$ 367,800,000

Interest - Schedule of Capitalized Interest (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in inventory, beginning of period	$ 45,973	$ 36,884	$ 38,338
Interest incurred	124,918	130,818	127,316
Capitalized interest impaired	(275)	(1,907)	(2,313)
Interest expense not qualified for capitalization and included as other expense	(71,474)	(73,440)	(74,214)
Capitalized interest amortized to house construction and land sales expenses	(60,952)	(46,382)	(52,243)
Capitalized interest in inventory, end of period	$ 38,190	$ 45,973	$ 36,884

The cost of borrowed funds accounted for as interest that was charged against earnings during the period.

+ References+ Details

Property, Plant and Equipment (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 74,172	$ 78,677
Less: Accumulated Depreciation	(55,198)	(56,064)
Property, plant and equipment, net	18,974	22,613
Building and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,329	2,329
Model and sales office improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	31,188	36,364
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,456	4,609
Information systems
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	20,671	19,970
Furniture, fixtures and office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 15,528	$ 15,405

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

+ References+ Details

Gross amount of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.

+ References+ Details

Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.

+ References+ Details

Borrowings - Schedule of Long-term Debt (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012 Senior Notes	Sep. 30, 2011 Senior Notes	Sep. 30, 2012 Senior Notes 6 7/8% Senior Notes Maturing July 2015	Sep. 30, 2011 Senior Notes 6 7/8% Senior Notes Maturing July 2015	Sep. 30, 2012 Senior Notes 8 1/8% Senior Notes Maturing June 2016	Sep. 30, 2011 Senior Notes 8 1/8% Senior Notes Maturing June 2016	Sep. 30, 2012 Senior Notes 12% Senior Secured Notes Maturing October 2017	Jul. 31, 2012 Senior Notes 12% Senior Secured Notes Maturing October 2017	Sep. 30, 2011 Senior Notes 12% Senior Secured Notes Maturing October 2017	Sep. 30, 2012 Senior Notes 6 5/8% Senior Secured Notes Maturing April 2018	Jul. 31, 2012 Senior Notes 6 5/8% Senior Secured Notes Maturing April 2018	Sep. 30, 2011 Senior Notes 6 5/8% Senior Secured Notes Maturing April 2018	Sep. 30, 2012 Senior Notes 9 1/8% Senior Notes Maturing June 2018	Sep. 30, 2011 Senior Notes 9 1/8% Senior Notes Maturing June 2018	Sep. 30, 2012 Senior Notes 9 1/8% Senior Notes Maturing May 2019	Sep. 30, 2011 Senior Notes 9 1/8% Senior Notes Maturing May 2019	Sep. 30, 2012 Senior Notes TEU Senior Amortizing Notes Maturing August 2013	Sep. 30, 2011 Senior Notes TEU Senior Amortizing Notes Maturing August 2013	Sep. 30, 2012 Senior Notes TEU Senior Amortizing Notes Maturing August 2015	Sep. 30, 2011 Senior Notes TEU Senior Amortizing Notes Maturing August 2015	Sep. 30, 2012 Mandatory Convertible Subordinated Debt	Sep. 30, 2011 Mandatory Convertible Subordinated Debt	Sep. 30, 2012 Junior Subordinated Notes	Sep. 30, 2011 Junior Subordinated Notes	Jun. 15, 2006 Junior Subordinated Notes	Sep. 30, 2012 Cash Secured Loan	Sep. 30, 2011 Cash Secured Loan	Sep. 30, 2012 Other Secured Notes Payable	Sep. 30, 2011 Other Secured Notes Payable
Debt Instrument [Line Items]
Debt instrument stated interest rate (percent)					6.875%	6.875%	8.125%	8.125%	12.00%	12.00%	12.00%	6.625%	6.625%	6.625%	9.125%	9.125%	9.125%	9.125%							7.987%		7.987%
Senior notes					$ 172,454	$ 172,454	$ 172,879	$ 172,879	$ 0		$ 250,000	$ 300,000		$ 0	$ 300,000	$ 300,000	$ 235,000	$ 250,000	$ 316	$ 10,062	$ 23,500	$ 0
Unamortized debt discounts	(3,082)	(23,243)	(3,082)	(23,243)																					49,200
Total debt, net	$ 1,498,198	$ 1,488,826	$ 1,201,067	$ 1,132,152						$ 250,000													$ 9,402	$ 57,500	$ 51,603	$ 49,537		$ 227,368	$ 247,368	$ 8,758	$ 2,269

Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date before deducting unamortized discount or premiums (if any). May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer.

+ References+ Details

The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized.

+ References+ Details

Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References+ Details

Borrowings - Schedule of Future Debt Maturities (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012
Debt Disclosure [Abstract]
2013	$ 7,742
2014	8,155
2015	181,089
2016	173,109
2017	0
Thereafter	1,170,953
Total	$ 1,541,048

Borrowings - Narrative (Details) (USD $) Share data in Millions, unless otherwise specified	12 Months Ended								1 Months Ended			12 Months Ended			12 Months Ended			12 Months Ended		3 Months Ended							3 Months Ended	12 Months Ended		12 Months Ended					3 Months Ended	12 Months Ended														3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011 Senior Notes	Sep. 30, 2012 Senior Notes	Sep. 30, 2012 Senior Notes Six and Five Eighths Percent Senior Secured Notes [Member]	Jul. 31, 2012 Senior Notes Six and Five Eighths Percent Senior Secured Notes [Member]	Sep. 30, 2011 Senior Notes Six and Five Eighths Percent Senior Secured Notes [Member]	Jul. 31, 2012 Senior Notes 12% Senior Secured Notes Maturing October 2017	Sep. 30, 2012 Senior Notes 12% Senior Secured Notes Maturing October 2017	Sep. 30, 2011 Senior Notes 12% Senior Secured Notes Maturing October 2017	Sep. 30, 2012 Senior Notes 9 1/8% Senior Notes Maturing May 2019	Sep. 30, 2011 Senior Notes 9 1/8% Senior Notes Maturing May 2019	Nov. 30, 2010 Senior Notes 9 1/8% Senior Notes Maturing May 2019	Sep. 30, 2011 Senior Notes 6 1/2% Senior Notes Maturing 2013 [Member]	Sep. 30, 2011 Senior Notes 6 7/8% Senior Notes Maturing July 2015	Sep. 30, 2012 Senior Notes 6 7/8% Senior Notes Maturing July 2015	Sep. 30, 2011 Senior Notes 8 1/8% Senior Notes Maturing June 2016	Sep. 30, 2012 Senior Notes 8 1/8% Senior Notes Maturing June 2016	Mar. 31, 2012 Senior Notes Tangible Equity Units TEUs	Sep. 30, 2012 Senior Notes Tangible Equity Units TEUs	Jul. 17, 2012 Senior Notes Tangible Equity Units TEUs	May 31, 2010 Senior Notes Tangible Equity Units TEUs	May 11, 2010 Senior Notes Tangible Equity Units TEUs	Sep. 30, 2012 Convertible Subordinated Debt	Sep. 30, 2011 Convertible Subordinated Debt	Mar. 31, 2012 Convertible Subordinated Debt 7 1/2% Mandatory Convertible Subordinated Notes [Member]	Sep. 30, 2012 Convertible Subordinated Debt 7 1/2% Mandatory Convertible Subordinated Notes [Member]	Jan. 12, 2010 Convertible Subordinated Debt 7 1/2% Mandatory Convertible Subordinated Notes [Member]	Sep. 30, 2012 Junior Subordinated Notes	Jun. 01, 2012 Junior Subordinated Notes	Sep. 30, 2011 Junior Subordinated Notes	Jan. 15, 2010 Junior Subordinated Notes	Jun. 15, 2006 Junior Subordinated Notes	Jun. 30, 2011 Cash Secured Loan	Sep. 30, 2012 Cash Secured Loan	Sep. 30, 2011 Cash Secured Loan	Nov. 30, 2010 Cash Secured Loan	Sep. 30, 2012 Other Secured Notes Payable	Sep. 30, 2011 Other Secured Notes Payable	Sep. 30, 2012 Secured Revolving Credit Facility	Jun. 30, 2012 Secured Revolving Credit Facility	Sep. 30, 2011 Secured Revolving Credit Facility	Sep. 30, 2012 Letter of Credit	Sep. 30, 2011 Letter of Credit	Sep. 30, 2012 Minimum Senior Notes Six and Five Eighths Percent Senior Secured Notes [Member]	Sep. 30, 2012 Minimum Convertible Subordinated Debt 7 1/2% Mandatory Convertible Subordinated Notes [Member]	Sep. 30, 2012 Maximum Senior Notes Six and Five Eighths Percent Senior Secured Notes [Member]	Sep. 30, 2012 Maximum Convertible Subordinated Debt 7 1/2% Mandatory Convertible Subordinated Notes [Member]	Mar. 31, 2012 Common Stock	Sep. 30, 2012 In Compliance [Member] Senior Notes Six and Five Eighths Percent Senior Secured Notes [Member]	Sep. 30, 2012 Optional Redemption Under Indenture [Member] Senior Notes Six and Five Eighths Percent Senior Secured Notes [Member]	Sep. 30, 2012 Not In Compliance [Member] Senior Notes Six and Five Eighths Percent Senior Secured Notes [Member]
Line of Credit Facility [Abstract]
Credit facility borrowing capacity																																									$ 150,000,000	$ 22,000,000		$ 220,000,000
Inventory assets pledged as collateral																																									900,000,000
Outstanding borrowings under Secured Revolving Credit Facility																																									0		0
Letters of credit secured using cash collateral																																												24,700,000	28,900,000
Senior Notes [Abstract]
Percent of original debt amount required to be offered for repurchase (percent)					10.00%	35.00%																																														65.00%
Beazer homes' ownership interest in guarantor subsidiaries	100.00%
Minimum consolidated tangible net worth	85,000,000
Amount of original debt that could be repurchased					62,500,000
Consolidated tangible net worth	236,200,000
Aggregate principal amount of debt							300,000,000							250,000,000															57,500,000				75,000,000	103,100,000				32,600,000
Debt instrument stated interest rate (percent)						6.625%	6.625%	6.625%	12.00%	12.00%	12.00%	9.125%	9.125%			6.875%	6.875%	8.125%	8.125%			7.50%	7.25%							7.987%				7.987%
Cash used for redemption of debt									280,000,000
Outstanding debt that was redeemed or repurchased												15,000,000																								20,000,000
Aggregate purchase price of Senior Notes				210,000,000								14,600,000
Loss on extinguishment of debt	45,097,000	2,909,000	(43,901,000)	2,900,000					(42,400,000)			(30,000)								700,000
Debt redeemed or repurchased	310,387,000	215,376,000	619,806,000	209,500,000											164,500,000	37,000,000		8,000,000
Shares exchanged for common stock																																																		2.8
Tangible Capital [Abstract]
Tangible Equity Units (TEUs) issued during period (units)																				2,800,000	200,000	4,600,000	3,000,000	3,000,000
Senior amortizing notes exchanged for Tangible Equity Units																				7,200,000
Convertible Subordinated Debt [Abstract]
Fixed conversion ratio (shares per $25)																												1.0870
Number of common stock exchanged for debt (shares)																																																		2.2
Value of convertible debt exchanged for common stock																											48,100,000
Inducement expense recognized																											2,000,000
Debt instrument initial conversion rate (shares per $25)																																															0.89094		1.08696
Junior Subordinated Notes [Abstract]
Effective period of debt instrument interest rate																														10 years
Three-month LIBOR																														three-month LIBOR						LIBOR
Spread on three-month LIBOR rate (percent)																														2.45%						0.40%
Debt instrument variable rate floor (percent)																														4.25%
Debt instrument variable rate cap (percent)																														9.25%
Debt instrument redemption price (percent)						100.00%																									75.00%															100.00%		103.313%			101.00%	106.625%	100.00%
Annual redemption price rate increase (percent)																														1.785%
Unamortized accretion	3,082,000	23,243,000		23,243,000	3,082,000																									(49,200,000)
Secured Debt [Abstract]
Combined total of loan facilities																																				275,000,000		275,000,000
Additional borrowings under cash secured loan facilities																																			214,800,000
Long-term debt	$ 1,498,198,000	$ 1,488,826,000		$ 1,132,152,000	$ 1,201,067,000				$ 250,000,000																$ 9,402,000	$ 57,500,000		$ 9,400,000		$ 51,603,000		$ 49,537,000				$ 227,368,000	$ 247,368,000		$ 8,758,000	$ 2,269,000
Weighted average fixed interest rate of debt (percent)																																							3.79%

Income Taxes - Narrative (Details) (USD $)	12 Months Ended
Income Taxes - Narrative (Details) (USD $)	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2009
Income Tax Disclosure [Line Items]
Federal net operating loss carryforwards	$ 273,500,000
State net operating loss carryforwards	81,900,000
Alternative minimum tax credit	9,800,000
Deferred tax asset valuation allowance	488,217,000	479,285,000
Increase (decrease) in unrecognized tax benefits	(15,600,000)	(900,000)
Gross deferred tax assets	551,082,000	536,097,000
Net deferred tax assets	6,848,000	2,760,000
Unrecognized tax benefits	19,630,000	46,648,000	47,271,000	41,848,000
Accrued interest and penalties	2,500,000	8,200,000
Maximum
Income Tax Disclosure [Line Items]
Limit on operating loss carryforwards and recognition	11,400,000
Limit on operating loss carryforwards and recognition, tax-effected	4,000,000
Gross deferred tax assets	117,800,000
Certain Components Likely To Be Subject To Annual Limitation [Member]
Income Tax Disclosure [Line Items]
Gross deferred tax assets	117,802,000
Certain Components Likely To Be Subject To Annual Limitation [Member] \| Maximum
Income Tax Disclosure [Line Items]
Net deferred tax assets	436,300,000
Certain Components Likely To Be Subject To Annual Limitation [Member] \| Minimum
Income Tax Disclosure [Line Items]
Gross deferred tax assets	58,700,000
Net deferred tax assets	$ 377,200,000

Income Taxes - Components of Income Tax Expense (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Income Tax Disclosure [Abstract]
Current federal	$ (34,242)	$ (1,963)	$ (4,528)
Current state	(143)	319	65
Deferred federal	(5,964)	3,728	(114,151)
Deferred state	2	1,282	259
Total	$ (40,347)	$ 3,366	$ (118,355)

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable Income or Loss from continuing operations.

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-Glossary Current Tax Expense (or Benefit)

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

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-Name Staff Accounting Bulletin (SAB)

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+ Details

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted state and local tax law to relevant amounts of taxable Income or Loss from continuing operations.

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

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+ Details

The component of total income tax expense for the period comprised of the increase (decrease) during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law.

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-Glossary Deferred Tax Expense (or Benefit)

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+ Details

The component of total income tax expense for the period comprised of the increase (decrease) in the entity's state and local deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the applicable enacted tax laws.

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-Glossary Deferred Tax Expense (or Benefit)

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+ Details

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or benefit may include interest and penalties on tax uncertainties based on the entity's accounting policy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Income Taxes - Effective Income Tax Rate Reconciliation (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Income Tax Disclosure [Abstract]
Income tax computed at statutory rate	$ (61,590)	$ (68,886)	$ (51,774)
State income taxes, net of federal benefit	(6,055)	(4,613)	(5,756)
Valuation allowance	59,601	74,047	(65,689)
(Decrease) increase in unrecognized tax benefits	(32,441)	1,511	3,108
Other, net	138	1,307	1,756
Total	$ (40,347)	$ 3,366	$ (118,355)

+ Details

The portion of the difference between total income tax expense or benefit as reported in the Income Statement and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to changes in the valuation allowance for deferred tax assets in the period.

+ References+ Details

The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations.

+ References+ Details

Income Taxes - Deferred Tax Assets and Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
Deferred Tax Assets:
Warranty and other reserves	$ 12,408	$ 11,752
Incentive compensation	16,285	15,338
Property, equipment and other assets	2,647	2,734
Federal and state carryforwards	365,283	305,909
Inventory adjustments	133,843	143,746
Uncertain tax positions	16,331	45,303
Other	4,285	11,315
Total deferred tax assets	551,082	536,097
Deferred Tax Liabilities:
Deferred revenues	(56,017)	(54,052)
Total deferred tax liabilities	(56,017)	(54,052)
Net deferred tax assets before valuation allowance	495,065	482,045
Valuation allowance	(488,217)	(479,285)
Net deferred tax assets	$ 6,848	$ 2,760

Income Taxes - Classification of Deferred Tax Assets (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
Income Tax Disclosure [Line Items]
Total deferred tax assets	$ 551,082	$ 536,097
Deferred tax liabilities	(56,017)	(54,052)
Net deferred tax assets before valuation allowance	495,065	482,045
Valuation allowance	(488,217)	(479,285)
Net deferred tax assets	6,848	2,760
Subject To Annual Limitation [Member]
Income Tax Disclosure [Line Items]
Total deferred tax assets	87,441
Generally Not Subject to Annual Limitation [Member]
Income Tax Disclosure [Line Items]
Total deferred tax assets	345,839
Certain Components Likely To Be Subject To Annual Limitation [Member]
Income Tax Disclosure [Line Items]
Total deferred tax assets	$ 117,802

Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.

+ References+ Details

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 46,648	$ 47,271	$ 41,848
Addtitions for (reductions in) in tax positions related to current year	903	(1,624)	(3,435)
Additions for tax positions related to prior years	0	1,563	11,533
Reductions for tax positions of prior years	(27,181)	(252)	(289)
Settlements with taxing authorities	0	(310)	(319)
Lapse of statute of limitations	(740)	0	(2,067)
Balance at end of year	$ 19,630	$ 46,648	$ 47,271

Contingencies - Warranty (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 17,916	$ 25,821	$ 30,100
Accruals for warranties issued	6,540	5,665	6,827
Changes in liability related to warranties existing in prior periods	(2,677)	(2,790)	3,308
Payments made	(6,302)	(10,780)	(14,414)
Balance at end of period	$ 15,477	$ 17,916	$ 25,821

Contingencies - Litigation and Other Matters (Details) (USD $)	12 Months Ended							12 Months Ended
	Sep. 30, 2012 loans homes	Sep. 30, 2011 homes	Sep. 30, 2012 Damages from Product Defects [Member] homes	Sep. 30, 2012 Performance Bonds	Sep. 30, 2012 Letter of Credit	Sep. 30, 2011 Letter of Credit	Sep. 30, 2011 South Edge Settlement Agreement	Sep. 30, 2006 First Order New Jersey Department of Environmental Protection - Violation of Permit	Sep. 30, 2006 Second Order New Jersey Department of Environmental Protection - Violation of Permit
Loss Contingencies [Line Items]
Company's Liability Under Deferred Prosecution Agreement, Percentage of Company's Adjusted EBITDA	4.00%
Loss Contingency, Range of Possible Loss, Maximum	$ 55,000,000
Loss Contingency, Damages Paid, Value	16,000,000
Minimum standard product warranty period	1 year
Maximum standard product warranty period	2 years
Number of homes that have not accepted Company's offer to repair	174	334	2
Amount demanded per the complaint to recover purported losses	5,000,000							630,000	678,000
Number of loans involved in lawsuit	57,000
Accrued amounts for litigation and other contingent liabilities	19,400,000	30,400,000					15,700,000
Letters of credit secured using cash collateral					24,700,000	28,900,000
Cash collateral in restricted accounts securing letters of credit				$ 157,000,000

Fair Value Measurements - Fair Value Assets Measured on a Non-recurring Basis (Details) (Fair Value, Measurements, Nonrecurring, USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress	$ 0	$ 0
Land held for sale	0
Right to purchase land		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress	0	0
Land held for sale	0
Right to purchase land		0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress	20,857	49,759
Land held for sale	1,973
Right to purchase land		11,651
Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress	20,857	49,759
Land held for sale	1,973
Right to purchase land		$ 11,651

Fair Value Measurements - Carrying Values and Estimated Fair Values of Other Financial Assets and Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	$ 1,262,072	$ 1,239,189
Carrying Amount \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,201,067	1,132,152
Mandatory Convertible Subordinated Notes	9,402	57,500
Carrying Amount \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior Subordinated Notes	51,603	49,537
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	1,287,813	928,918
Fair Value \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,228,745	856,634
Mandatory Convertible Subordinated Notes	7,465	22,747
Fair Value \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior Subordinated Notes	$ 51,603	$ 49,537

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents notes payable as of the balance sheet date.

+ References+ Details

Fair Value Measurements - Narrative (Details) (USD $)	12 Months Ended
Fair Value Measurements - Narrative (Details) (USD $)	Sep. 30, 2012	Sep. 30, 2011
Fair Value Disclosures [Abstract]
Impairment of projects in process	$ 9,500,000	$ 29,600,000
Impairment of land held for sale	800,000	400,000
Impairment of joint venture investments	$ 36,000	$ 600,000

Leases (Details) (USD $)	12 Months Ended
Leases (Details) (USD $)	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Rental expense	$ 5,900,000	$ 11,000,000	$ 10,300,000
2013	5,341,000
2014	2,421,000
2015	1,856,000
2016	709,000
2017	87,000
Thereafter	0
Total	$ 10,414,000

Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

Amount of required minimum rental payments maturing in the next fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

Amount of required minimum rental payments maturing in the fifth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

Amount of required minimum rental payments maturing in the forth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

Amount of required minimum rental payments maturing in the third fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

Amount of required minimum rental payments maturing in the second fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Amount of required minimum rental payments maturing after the fifth fiscal year following the latest fiscal year for operating leases having an initial or remaining non-cancelable letter-terms in excess of one year.

+ References+ Details

Stockholders' Equity (Details) (USD $)	0 Months Ended			12 Months Ended																				3 Months Ended			0 Months Ended			1 Months Ended	3 Months Ended	12 Months Ended
Stockholders' Equity (Details) (USD $)	Jul. 17, 2012	May 11, 2010	Jan. 12, 2010	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2012 Minimum	Mar. 31, 2012 Minimum	Sep. 30, 2010 Minimum	Sep. 30, 2012 Maximum	Sep. 30, 2010 Maximum	Sep. 30, 2012 Senior Notes	Sep. 30, 2011 Senior Notes	Sep. 30, 2012 Convertible Subordinated Debt	Sep. 30, 2011 Convertible Subordinated Debt	Sep. 30, 2012 Tangible Equity Units Senior Notes TEUs	Jul. 17, 2012 Tangible Equity Units Senior Notes TEUs	Mar. 31, 2012 Tangible Equity Units Senior Notes TEUs	Sep. 30, 2010 Tangible Equity Units Senior Notes	May 31, 2010 Tangible Equity Units Senior Notes TEUs	May 11, 2010 Tangible Equity Units Senior Notes TEUs	Sep. 30, 2012 TEU Senior Amortizing Notes Maturing August 2013 [Member] Senior Notes	Sep. 30, 2011 TEU Senior Amortizing Notes Maturing August 2013 [Member] Senior Notes	Mar. 31, 2012 7 1/2% Mandatory Convertible Subordinated Notes [Member] Convertible Subordinated Debt	Sep. 30, 2012 7 1/2% Mandatory Convertible Subordinated Notes [Member] Convertible Subordinated Debt	Oct. 11, 2012 Repurchase of Equity	Jul. 17, 2012 Common Stock	May 11, 2010 Common Stock	Jan. 12, 2010 Common Stock	Mar. 31, 2012 Common Stock	Mar. 31, 2012 Common Stock	Sep. 30, 2012 Common Stock	Sep. 30, 2010 Common Stock
Class of Stock [Line Items]
Authorized number of shares				100,000,000	180,000,000																					100,000,000
Shares of common stock exchanged for the 2010 TEUs																														2,800,000		4,969,000
Tangible Equity Units (TEUs) issued during period (units)																200,000	4,600,000	2,800,000		3,000,000	3,000,000
Percentage of original issuance of 2010 TEUs that were exchanged								94.00%
Amortizing notes outstanding																						$ 316,000	$ 10,062,000
Number of common stock exchanged for debt (shares)																															2,200,000
Value of convertible debt exchanged for common stock																								48,100,000
Long-term debt				1,498,198,000	1,488,826,000							1,201,067,000	1,132,152,000	9,402,000	57,500,000										9,400,000
Number of shares in underwritten public offering (shares)																											4,400,000	2,500,000	4,485,000			4,400,000	6,985,000
Proceeds from issuance of TEU prepaid stock purchase contracts	171,400,000	141,600,000	97,800,000	88,361,000		57,429,000
Prepaid stock purchase contract settlement factor							1.40746		0.70252	1.72414	0.86058
Prepaid Stock Contract, Fair Value																			57,400,000
Initial fair value of prepaid stock purchase contracts																88,400,000
Treasury stock utilized in public offering of stock (shares)			700,000
Number of shares surrendered by emloyees (shares)				9,156	10,440	6,589
Aggregate value of stock surrendered				$ 126,000	$ 170,000	$ 160,000

Retirement Plan and Incentive Awards (Details) (USD $)

12 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2010

Employer matching contribution (percentage)

50.00%

Maximum percentage of employee gross pay subject to employer match

6.00%

Total employer contributions during period

$ 1,300,000

$ 1,500,000

$ 1,600,000

Total matching contributions forfeited by plan participants during period

300,000

200,000

100,000

Deferred compensation plan liabilities

24,612,000

27,427,000

Intrinsic value of SSARs/stock options outstanding

800,000

Intrinsic value of SSARs/stock options vested and expected to vest

800,000

Unrecognized compensation cost

2,100,000

4,000,000

Weighted average period to recognize remaining cost

1 year 4 months 24 days

SSARs and Stock Options

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Weighted average expected life of the SSARs / stock options vested and expected to vest

2 years 8 months 12 days

Non-cash stock based compensation expense

1,500,000

3,400,000

5,900,000

Performance-based restricted stock issued

109,507

150,853

201,229

Dividend yield for the Company

0.00%

Expected price volatitlity

44.77%

51.70%

50.00%

Risk-free interest rate

0.90%

1.22%

2.33%

Performance Shares

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Estimated fair value of nonvested stock ($ per share)

$ 5.65

Dividend yield for the Company

0.00%

Risk-free interest rate

0.43%

Restricted Stock

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Unvested restricted stock returned (shares)

(10,502)

^[1]

Nonvested Stock Awards and Performance Shares

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Non-cash stock based compensation expense

2,600,000

3,800,000

5,600,000

Performance-based restricted stock issued

179,913

150,853

201,229

Estimated fair value of nonvested stock ($ per share)

$ 7.19

$ 23.45

$ 28.45

Unvested restricted stock returned (shares)

10,502

^[1]

Minimum

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Employee deferral and contribution percentage

1.00%

Minimum | Performance Shares

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Expected price volatitlity

36.00%

Maximum

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Employee deferral and contribution percentage

80.00%

Maximum | Performance Shares

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Expected price volatitlity

61.10%

Beazer Homes USA Inc. Deferred Compensation Plan

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Deferred compensation plan assets

1,100,000

5,900,000

Deferred compensation plan liabilities

2,400,000

7,100,000

Deferred compensation plan employer contributions during period

$ 205,000

$ 197,000

$ 273,000

2010 Stock Incentive Plan

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Shares of common stock reserved for issuance under plan

1,000,000

Shares of common stock available for future grants

600,000

[1]	(a) Our former Chief Executive Offer returned 10,502 shares of unvested restricted stock in accordance with this agreement with the Securities and Exchange Commission.

Retirement Plan and Incentive Awards - Schedule of Stock Options and SSARs Outstanding and Related Activity (Details) (SSARs and Stock Options, USD $)	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
SSARs and Stock Options
Shares [Roll Forward]
Outstanding at beginning of period	375,248	515,671	421,783
Granted	109,507	150,853	201,229
Expired	(10,948)	(148,393)	(6,396)
Canceled/exchanged	0	0	(93,187)
Forfeited	(43,834)	(142,883)	(7,758)
Outstanding at end of period	429,973	375,248	515,671
Exercisable at end of period	247,588	163,076	154,132
Vested or expected to vest in the future	428,597	367,693	460,587
Weighted-Average Exercise Price [Roll Forward]
Outstanding at beginning of period	$ 48.85	$ 113.45	$ 165.35
Granted	$ 10.80	$ 23.45	$ 28.45
Expired	$ 82.51	$ 270.10	$ 137.55
Canceled/exchanged		$ 0.00	$ 165.20
Forfeited	$ 24.13	$ 25.45	$ 90.80
Outstanding at end of period	$ 40.80	$ 48.85	$ 113.45
Exercisable at end of period	$ 58.61	$ 64.65	$ 207.95
Vested or expected to vest in the future	$ 40.88	$ 49.30	$ 102.75

Retirement Plan and Incentive Awards - Schedule of Assumptions for Stock Options Granted (Details) (SSARs and Stock Options, USD $)	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
SSARs and Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options	5 years	4 years 9 months 18 days	4 years 9 months 18 days
Expected volatility	44.77%	51.70%	50.00%
Expected discrete dividends	0.00%	0.00%	0.00%
Weighted average risk-free interest rate	0.90%	1.22%	2.33%
Weighted average fair value	$ 4.30	$ 10.50	$ 12.75

Weighted-Average Grant Date Fair Value ($ per share) [Roll Forward]

The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.

+ References+ Details

Retirement Plan and Incentive Awards - Schedule of Stock Options and SSARs Outstanding and Exercisable (Details) (SSARs and Stock Options, USD $)					12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2012 $1 - $20	Sep. 30, 2012 $21 - $75	Sep. 30, 2012 $76 - $150	Sep. 30, 2012 $151 - $220	Sep. 30, 2012 $1 - $220
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options / SSARs - exercise price range, lower limit					$ 1	$ 21	$ 76	$ 151	$ 1
Stock options / SSARs - exercise price range, upper limit					$ 20	$ 75	$ 150	$ 220	$ 220
Stock options / SSARs outstanding (shares)					274,381	92,673	7,703	55,216	429,973
Stock options / SSARs outstanding - weighted average contractual remaining life					5 years 5 months 23 days	4 years 7 months 10 days	3 months 26 days	1 year 6 months 26 days	4 years 8 months 12 days
Stock options / SSARs outstanding - weighted average exercise price ($ per share)	$ 40.80	$ 48.85	$ 113.45	$ 165.35	$ 17.04	$ 28.45	$ 96.45	$ 171.87	$ 40.8
Stock options / SSARs exercisable (shares)					121,317	63,352	7,703	55,216	247,588
Stock options / SSARs exercisable - weightedaverage contyractual remaining life					3 years 1 month 6 days	4 years 7 months 10 days	3 months 26 days	1 year 6 months 26 days	3 years 0 months 22 days
Stock options / SSARs exercisable - weighted average exercise price ($ per share)	$ 58.61	$ 64.65	$ 207.95		$ 15.79	$ 28.45	$ 96.45	$ 171.87	$ 58.61

Retirement Plan and Incentive Awards - Schedule of Nonvested Stock Awards and Performance Shares (Details) (Nonvested Stock Awards and Performance Shares, USD $)

12 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2010

Nonvested Stock Awards and Performance Shares

Shares [Roll Forward]

Beginning of period

288,079

367,997

225,376

Granted

179,913

150,853

201,229

Vested

(88,497)

(82,740)

(40,303)

Returned

(10,502)

^[1]

Forfeited

(56,160)

(137,529)

(18,305)

End of period

323,335

288,079

367,997

Beginning of period

$ 33.85

$ 72.05

$ 138.30

Granted

$ 7.19

$ 23.45

$ 28.45

Vested

$ 34.20

$ 104.70

$ 166.05

Returned

$ 0.00

$ 342.80

^[1]

$ 0.00

Forfeited

$ 29.97

$ 58.50

$ 201.95

End of period

$ 19.61

$ 33.85

$ 72.05

[1]	(a) Our former Chief Executive Offer returned 10,502 shares of unvested restricted stock in accordance with this agreement with the Securities and Exchange Commission.

Segment Information (Details) (USD $)

12 Months Ended

Sep. 30, 2012

segment

state

Sep. 30, 2011

Sep. 30, 2010

Segment Reporting Information [Line Items]

Number of operating segments

Number of states with active operations

Revenue

$ 1,005,677,000

$ 742,405,000

$ 991,152,000

(62,058,000)

(132,245,000)

(113,434,000)

304,000

560,000

(8,807,000)

Loss from continuing operations before income taxes

(45,097,000)

(2,909,000)

43,901,000

Other expense, net

(69,119,000)

^[1]

(62,224,000)

^[1]

(69,585,000)

^[1]

(175,970,000)

(196,818,000)

(147,925,000)

13,510,000

10,253,000

12,669,000

17,363,000

20,514,000

10,849,000

Assets

Previously owned rental homes, net

1,982,218,000

1,977,477,000

11,347,000

Benefit from cash reimbursement from former Chief Executive Officer

8,300,000

Operating Segments

38,885,000

(20,259,000)

12,319,000

10,556,000

7,226,000

10,322,000

West

Revenue

391,648,000

233,133,000

364,530,000

15,147,000

(28,406,000)

1,120,000

4,980,000

3,651,000

5,161,000

3,031,000

4,041,000

3,939,000

Assets

618,805,000

649,057,000

East

Revenue

402,466,000

343,826,000

451,162,000

9,152,000

11,611,000

11,329,000

3,536,000

2,621,000

3,665,000

3,532,000

2,051,000

1,734,000

Assets

320,404,000

372,984,000

Southeast

Revenue

210,449,000

165,107,000

175,460,000

14,815,000

(2,740,000)

(130,000)

1,710,000

885,000

1,496,000

1,814,000

1,631,000

1,184,000

Assets

160,868,000

162,135,000

Pre-Owned Segment

Revenue

1,114,000

339,000

(229,000)

(724,000)

330,000

69,000

7,933,000

^[2]

11,415,000

^[2]

Assets

Previously owned rental homes, net

^[2]

12,315,000

^[2]

11,300,000

Number of pre-owned homes

120

Corporate and unallocated

(100,943,000)

^[3]

(111,986,000)

^[3]

(125,753,000)

^[3]

2,954,000

^[3]

3,027,000

^[3]

2,347,000

^[3]

1,053,000

1,376,000

3,992,000

Assets

882,141,000

^[4]

780,986,000

^[4]

$ 11,000,000

[1]	The fiscal year ended September 30, 2011, includes an $8.3 million benefit related to the cash reimbursements from our former CEO and former CFO in connection with their consent agreements with the Securities and Exchange Commission.
[2]	Pre-owned assets included the cost of previously owned homes, net of accumulated depreciation, totaling $11.3 million (120 homes) as of September 30, 2011. Capital expenditures represent the purchase of previously owned homes through May 2, 2012 and September 30, 2011, respectively.
[3]	Corporate and unallocated includes amortization of capitalized interest and numerous shared services functions that benefit all segments, the costs of which are not allocated to the operating segments reported above including information technology, national sourcing and purchasing, treasury, corporate finance, legal, branding and other national marketing costs. For the fiscal year ended September 30, 2012, corporate and unallocated also includes an $11 million recovery related to old water intrusion warranty and related legal expenditures.
[4]	Primarily consists of cash and cash equivalents, consolidated inventory not owned, deferred taxes, capitalized interest and other items that are not allocated to the segments.

Supplemental Guarantor Information - Consolidating Balance Sheet Information (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2009
Condensed Financial Statements, Captions [Line Items]
Beazer homes' ownership interest in guarantor subsidiaries	100.00%
ASSETS
Cash and cash equivalents	$ 487,795	$ 370,403	$ 537,121	$ 507,339
Restricted cash	253,260	277,058
Accounts receivable (net of allowance of $2,235 and $3,872, respectively)	24,599	28,303
Income tax receivable	6,372	4,823
Owned inventory	1,099,132	1,192,380
Consolidated inventory not owned	12,420	11,753
Investments in unconsolidated entities	42,078	9,467
Deferred tax assets, net	6,848	2,760
Property, plant and equipment, net	18,974	22,613
Previously owned rental homes, net	0	11,347
Investments in subsidiaries	0	0
Intercompany	0	0
Other assets	30,740	46,570
Total assets	1,982,218	1,977,477
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	69,268	72,695
Other liabilities	147,718	212,187
Intercompany	0	0
Obligations related to land not owned under option agreements	4,787	5,389
Total debt (net of discounts of $3,082 and $23,243, respectively)	1,498,198	1,488,826
Total liabilities	1,719,971	1,779,097
Stockholders' equity	262,247	198,380	397,101	196,555
Total liabilities and stockholders' equity	1,982,218	1,977,477
Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	481,394	360,723	530,847	495,692
Restricted cash	252,900	276,678
Accounts receivable (net of allowance of $2,235 and $3,872, respectively)	0	0
Income tax receivable	6,372	4,823
Owned inventory	0	0
Consolidated inventory not owned	0	0
Investments in unconsolidated entities	773	773
Deferred tax assets, net	6,848	2,760
Property, plant and equipment, net	0	0
Previously owned rental homes, net	0	0
Investments in subsidiaries	63,120	100,996
Intercompany	969,425	1,013,753
Other assets	21,307	18,550
Total assets	1,802,139	1,779,056
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	0	0
Other liabilities	49,354	93,047
Intercompany	1,098	1,072
Obligations related to land not owned under option agreements	0	0
Total debt (net of discounts of $3,082 and $23,243, respectively)	1,489,440	1,486,557
Total liabilities	1,539,892	1,580,676
Stockholders' equity	262,247	198,380
Total liabilities and stockholders' equity	1,802,139	1,779,056
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	8,215	10,488	8,343	11,482
Restricted cash	360	380
Accounts receivable (net of allowance of $2,235 and $3,872, respectively)	24,594	28,292
Income tax receivable	0	0
Owned inventory	1,099,132	1,192,380
Consolidated inventory not owned	12,420	11,753
Investments in unconsolidated entities	41,305	8,694
Deferred tax assets, net	0	0
Property, plant and equipment, net	18,974	22,613
Previously owned rental homes, net	0	11,347
Investments in subsidiaries	0	0
Intercompany	0	0
Other assets	7,783	25,190
Total assets	1,212,783	1,311,137
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	69,268	72,695
Other liabilities	96,389	116,210
Intercompany	973,788	1,018,680
Obligations related to land not owned under option agreements	4,787	5,389
Total debt (net of discounts of $3,082 and $23,243, respectively)	8,758	2,269
Total liabilities	1,152,990	1,215,243
Stockholders' equity	59,793	95,894
Total liabilities and stockholders' equity	1,212,783	1,311,137
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	646	418	200	2,915
Restricted cash	0	0
Accounts receivable (net of allowance of $2,235 and $3,872, respectively)	5	11
Income tax receivable	0	0
Owned inventory	0	0
Consolidated inventory not owned	0	0
Investments in unconsolidated entities	0	0
Deferred tax assets, net	0	0
Property, plant and equipment, net	0	0
Previously owned rental homes, net	0	0
Investments in subsidiaries	0	0
Intercompany	3,001	4,773
Other assets	1,650	2,830
Total assets	5,302	8,032
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	0	0
Other liabilities	1,975	2,930
Intercompany	0	0
Obligations related to land not owned under option agreements	0	0
Total debt (net of discounts of $3,082 and $23,243, respectively)	0	0
Total liabilities	1,975	2,930
Stockholders' equity	3,327	5,102
Total liabilities and stockholders' equity	5,302	8,032
Consolidating Adjustments
ASSETS
Cash and cash equivalents	(2,460)	(1,226)	(2,269)	(2,750)
Restricted cash	0	0
Accounts receivable (net of allowance of $2,235 and $3,872, respectively)	0	0
Income tax receivable	0	0
Owned inventory	0	0
Consolidated inventory not owned	0	0
Investments in unconsolidated entities	0	0
Deferred tax assets, net	0	0
Property, plant and equipment, net	0	0
Previously owned rental homes, net	0	0
Investments in subsidiaries	(63,120)	(100,996)
Intercompany	(972,426)	(1,018,526)
Other assets	0	0
Total assets	(1,038,006)	(1,120,748)
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	0	0
Other liabilities	0	0
Intercompany	(974,886)	(1,019,752)
Obligations related to land not owned under option agreements	0	0
Total debt (net of discounts of $3,082 and $23,243, respectively)	0	0
Total liabilities	(974,886)	(1,019,752)
Stockholders' equity	(63,120)	(100,996)
Total liabilities and stockholders' equity	$ (1,038,006)	$ (1,120,748)

Supplemental Guarantor Information - Consolidating Balance Sheet Information Parentheticals (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Allowances for accounts receivable	$ 2,235	$ 3,872
Discounts on total debt	$ 3,082	$ 23,243

Condensed Financial Statements, Captions [Line Items]

The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized.

+ References+ Details

Supplemental Guarantor Information - Consolidating Statement of Operations (Details) (USD $)

12 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2010

$ 1,005,677,000

$ 742,405,000

$ 991,152,000

Inventory impairments and option contract abandonments

888,379,000

661,851,000

857,957,000

12,210,000

32,459,000

49,566,000

105,088,000

48,095,000

83,629,000

43,585,000

32,711,000

43,279,000

110,051,000

137,376,000

141,115,000

13,510,000

10,253,000

12,669,000

(62,058,000)

(132,245,000)

(113,434,000)

304,000

560,000

(8,807,000)

(45,097,000)

(2,909,000)

43,901,000

Loss from continuing operations before income taxes

(69,119,000)

^[1]

(62,224,000)

^[1]

(69,585,000)

^[1]

(175,970,000)

(196,818,000)

(147,925,000)

(40,347,000)

3,366,000

(118,355,000)

(135,623,000)

(200,184,000)

(29,570,000)

(9,703,000)

(4,675,000)

(4,479,000)

Condensed Financial Statements, Captions [Line Items]

(145,326,000)

(204,859,000)

(34,049,000)

Beazer Homes USA, Inc.

Inventory impairments and option contract abandonments

60,952,000

46,382,000

52,243,000

275,000

1,907,000

2,313,000

(61,227,000)

(48,289,000)

(54,556,000)

(61,227,000)

(48,289,000)

(54,556,000)

(45,097,000)

(2,909,000)

43,625,000

Loss from continuing operations before income taxes

(71,474,000)

(73,440,000)

(74,215,000)

(177,798,000)

(124,638,000)

(85,146,000)

(68,026,000)

(46,540,000)

(32,143,000)

(25,851,000)

(122,086,000)

23,433,000

(135,623,000)

(200,184,000)

(29,570,000)

(9,703,000)

(4,675,000)

(4,479,000)

Condensed Financial Statements, Captions [Line Items]

(145,326,000)

(204,859,000)

(34,049,000)

Guarantor Subsidiaries

1,005,677,000

742,405,000

989,350,000

Inventory impairments and option contract abandonments

828,368,000

616,571,000

805,714,000

11,935,000

30,552,000

47,253,000

165,374,000

95,282,000

136,383,000

43,585,000

32,711,000

43,279,000

109,937,000

137,261,000

141,005,000

13,510,000

10,253,000

12,669,000

(1,658,000)

(84,943,000)

(60,570,000)

304,000

560,000

(8,807,000)

276,000

Loss from continuing operations before income taxes

2,328,000

11,145,000

4,551,000

974,000

(73,238,000)

(64,550,000)

27,380,000

49,536,000

(86,832,000)

(26,406,000)

(122,774,000)

22,282,000

(9,695,000)

(4,672,000)

(4,474,000)

Condensed Financial Statements, Captions [Line Items]

(36,101,000)

(127,446,000)

17,808,000

Non-Guarantor Subsidiaries

941,000

1,102,000

1,802,000

Inventory impairments and option contract abandonments

941,000

1,102,000

1,802,000

114,000

115,000

110,000

827,000

987,000

1,692,000

Loss from continuing operations before income taxes

27,000

71,000

79,000

854,000

1,058,000

1,771,000

299,000

370,000

620,000

555,000

688,000

1,151,000

(8,000)

(3,000)

(5,000)

Condensed Financial Statements, Captions [Line Items]

547,000

685,000

1,146,000

Consolidating Adjustments

(941,000)

(1,102,000)

Inventory impairments and option contract abandonments

(941,000)

(1,102,000)

Loss from continuing operations before income taxes

25,851,000

122,086,000

(23,433,000)

25,851,000

122,086,000

(23,433,000)

9,703,000

4,675,000

4,479,000

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

$ 35,554,000

$ 126,761,000

$ (18,954,000)

[1]	The fiscal year ended September 30, 2011, includes an $8.3 million benefit related to the cash reimbursements from our former CEO and former CFO in connection with their consent agreements with the Securities and Exchange Commission.

Supplemental Guarantor Information - Consolidating Statements of Cash Flows (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	$ (20,845)	$ (178,936)	$ 69,685
Cash flows from investing activities:
Capital expenditures	(17,363)	(20,514)	(10,849)
Investments in unconsolidated entities	(2,407)	(1,924)	(5,602)
Return of capital from unconsolidated entities	610	0	0
Increases in restricted cash	(3,260)	(250,839)	(37,439)
Decreases in restricted cash	27,058	12,981	47,700
Net cash provided by (used in) investing activities	4,638	(260,296)	(6,190)
Cash flows from financing activities:
Repayment of debt	(310,387)	(215,376)	(619,806)
Proceeds from issuance of new debt	300,000	246,387	358,700
Proceeds from issuance of cash secured loan	0	247,368	0
Debt issuance costs	(10,845)	(5,172)	(9,234)
Proceeds from issuance of common stock, net	60,340	0	166,718
Proceeds from issuance of TEU prepaid stock purchase contracts, net	88,361		57,429
Proceeds from issuance of TEU amortizing notes	23,500		15,738
Settlement of unconsolidated entity debt obligation	(15,862)	0	0
Payments for other financing activities	(1,508)	(693)	(3,258)
Dividends paid	0	0
Advances to/from subsidiaries	0	0	0
Net cash provided by (used in) financing activities	133,599	272,514	(33,713)
Increase (decrease) in cash and cash equivalents	117,392	(166,718)	29,782
Cash and cash equivalents at beginning of period	370,403	537,121	507,339
Cash and cash equivalents at end of period	487,795	370,403	537,121
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(110,429)	(53,850)	(88,344)
Cash flows from investing activities:
Capital expenditures	0	0	0
Investments in unconsolidated entities	0	0	0
Return of capital from unconsolidated entities	0
Increases in restricted cash	(2,100)	(249,728)	(36,345)
Decreases in restricted cash	25,919	11,832	46,477
Net cash provided by (used in) investing activities	23,819	(237,896)	10,132
Cash flows from financing activities:
Repayment of debt	(309,063)	(214,005)	(616,858)
Proceeds from issuance of new debt	300,000	246,387	357,500
Proceeds from issuance of cash secured loan		247,368
Debt issuance costs	(10,845)	(5,172)	(9,234)
Proceeds from issuance of common stock, net	60,340		166,718
Proceeds from issuance of TEU prepaid stock purchase contracts, net	88,361		57,429
Proceeds from issuance of TEU amortizing notes	23,500		15,738
Settlement of unconsolidated entity debt obligation	(15,862)
Payments for other financing activities	(1,508)	(693)	(3,258)
Dividends paid	2,300	850
Advances to/from subsidiaries	70,058	(153,113)	145,332
Net cash provided by (used in) financing activities	207,281	121,622	113,367
Increase (decrease) in cash and cash equivalents	120,671	(170,124)	35,155
Cash and cash equivalents at beginning of period	360,723	530,847	495,692
Cash and cash equivalents at end of period	481,394	360,723	530,847
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	88,806	(126,090)	159,953
Cash flows from investing activities:
Capital expenditures	(17,363)	(20,514)	(10,849)
Investments in unconsolidated entities	(2,407)	(1,924)	(5,602)
Return of capital from unconsolidated entities	610
Increases in restricted cash	(1,160)	(1,111)	(1,094)
Decreases in restricted cash	1,139	1,149	1,223
Net cash provided by (used in) investing activities	(19,181)	(22,400)	(16,322)
Cash flows from financing activities:
Repayment of debt	(1,324)	(1,371)	(2,948)
Proceeds from issuance of new debt	0	0	1,200
Proceeds from issuance of cash secured loan		0
Debt issuance costs	0	0	0
Proceeds from issuance of common stock, net	0		0
Proceeds from issuance of TEU prepaid stock purchase contracts, net	0		0
Proceeds from issuance of TEU amortizing notes	0		0
Settlement of unconsolidated entity debt obligation	0
Payments for other financing activities	0	0	0
Dividends paid	0	0
Advances to/from subsidiaries	(70,574)	152,006	(145,022)
Net cash provided by (used in) financing activities	(71,898)	150,635	(146,770)
Increase (decrease) in cash and cash equivalents	(2,273)	2,145	(3,139)
Cash and cash equivalents at beginning of period	10,488	8,343	11,482
Cash and cash equivalents at end of period	8,215	10,488	8,343
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	778	1,004	(1,924)
Cash flows from investing activities:
Capital expenditures	0	0	0
Investments in unconsolidated entities	0	0	0
Return of capital from unconsolidated entities	0
Increases in restricted cash	0	0	0
Decreases in restricted cash	0	0	0
Net cash provided by (used in) investing activities	0	0	0
Cash flows from financing activities:
Repayment of debt	0	0	0
Proceeds from issuance of new debt	0	0	0
Proceeds from issuance of cash secured loan		0
Debt issuance costs	0	0	0
Proceeds from issuance of common stock, net	0		0
Proceeds from issuance of TEU prepaid stock purchase contracts, net	0		0
Proceeds from issuance of TEU amortizing notes	0		0
Settlement of unconsolidated entity debt obligation	0
Payments for other financing activities	0	0	0
Dividends paid	(2,300)	(850)
Advances to/from subsidiaries	1,750	64	(791)
Net cash provided by (used in) financing activities	(550)	(786)	(791)
Increase (decrease) in cash and cash equivalents	228	218	(2,715)
Cash and cash equivalents at beginning of period	418	200	2,915
Cash and cash equivalents at end of period	646	418	200
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	0	0	0
Cash flows from investing activities:
Capital expenditures	0	0	0
Investments in unconsolidated entities	0	0	0
Return of capital from unconsolidated entities	0
Increases in restricted cash	0	0	0
Decreases in restricted cash	0	0	0
Net cash provided by (used in) investing activities	0	0	0
Cash flows from financing activities:
Repayment of debt	0	0	0
Proceeds from issuance of new debt	0	0	0
Proceeds from issuance of cash secured loan		0
Debt issuance costs	0	0	0
Proceeds from issuance of common stock, net	0		0
Proceeds from issuance of TEU prepaid stock purchase contracts, net	0		0
Proceeds from issuance of TEU amortizing notes	0		0
Settlement of unconsolidated entity debt obligation	0
Payments for other financing activities	0	0	0
Dividends paid	0	0
Advances to/from subsidiaries	(1,234)	1,043	481
Net cash provided by (used in) financing activities	(1,234)	1,043	481
Increase (decrease) in cash and cash equivalents	(1,234)	1,043	481
Cash and cash equivalents at beginning of period	(1,226)	(2,269)	(2,750)
Cash and cash equivalents at end of period	$ (2,460)	$ (1,226)	$ (2,269)

Discontinued Operations - Results of Discontinued Operations (Details) (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2010

Inventory impairments and lot option abandonments

$ 888,379

$ 661,851

$ 857,957

12,210

32,459

49,566

105,088

48,095

83,629

43,585

32,711

43,279

110,051

137,376

141,115

13,510

10,253

12,669

(62,058)

(132,245)

(113,434)

(69,119)

^[1]

(62,224)

^[1]

(69,585)

^[1]

(40,347)

3,366

(118,355)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

(9,703)

(4,675)

(4,479)

Discontinued Operations

6,029

42,806

51,856

Inventory impairments and lot option abandonments

6,057

38,157

43,374

579

2,906

2,273

(607)

1,743

6,209

217

1,167

2,219

9,206

^[2]

4,270

^[2]

7,460

^[2]

455

736

Equity in loss of unconsolidated entities

(10,065)

(4,149)

(4,206)

(37)

(518)

(15,543)

Loss from discontinued operations before income taxes

(1)

437

(10,103)

(4,612)

(19,312)

(400)

(14,833)