Document and Entity Information	3 Months Ended
Document and Entity Information	Dec. 31, 2013	Jan. 29, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	BEAZER HOMES USA INC
Entity Central Index Key	0000915840
Document Type	10-Q
Document Period End Date	Dec. 31, 2013
Amendment Flag	false
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		25,359,450

Unaudited Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013
ASSETS
Cash and cash equivalents	$ 382,560	$ 504,459
Restricted cash	49,155	48,978
Accounts receivable (net of allowance of $1,495 and $1,651, respectively)	21,074	22,342
Income tax receivable	2,813	2,813
Inventory
Owned inventory	1,374,987	1,304,694
Land not owned under option agreements	7,751	9,124
Total inventory	1,382,738	1,313,818
Investments in unconsolidated entities	47,424	44,997
Deferred tax assets, net	5,333	5,253
Property, plant and equipment, net	17,437	17,000
Other assets	24,299	27,129
Total assets	1,932,833	1,986,789
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	60,505	83,800
Other liabilities	117,318	145,623
Obligations related to land not owned under option agreements	3,147	4,633
Total debt (net of discounts of $4,970 and $5,160 respectively)	1,516,255	1,512,183
Total liabilities	1,697,225	1,746,239
Stockholders' equity:
Preferred stock (par value $.01 per share, 5,000,000 shares authorized, no shares issued)	0	0
Common stock (par value $0.001 per share, 63,000,000 shares authorized, 25,358,835 and 25,245,945 issued and outstanding, respectively)	25	25
Paid-in capital	846,361	846,165
Accumulated deficit	(610,778)	(605,640)
Total stockholders' equity	235,608	240,550
Total liabilities and stockholders' equity	$ 1,932,833	$ 1,986,789

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013
ASSETS
Allowances for accounts receivable	$ 1,495	$ 1,651
LIABILITIES AND STOCKHOLDERS’ EQUITY
Discounts on total debt	$ 4,970	$ 5,160
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	63,000,000	63,000,000
Common stock, shares issued	25,358,835	25,245,945
Common stock, shares outstanding	25,358,835	25,245,945

Unaudited Condensed Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
Total revenue	$ 293,170	$ 246,902
Home construction and land sales expenses	238,469	210,614
Inventory impairments and option contract abandonments	31	204
Gross profit	54,670	36,084
Commissions	11,821	10,642
General and administrative expenses	28,410	26,328
Depreciation and amortization	2,907	2,715
Operating income (loss)	11,532	(3,601)
Equity in income of unconsolidated entities	319	36
Other expense, net	(15,757)	(15,627)
Loss from continuing operations before income taxes	(3,906)	(19,192)
Provision for (benefit from) income taxes	42	(253)
Loss from continuing operations	(3,948)	(18,939)
Loss from discontinued operations, net of tax	(1,190)	(1,449)
Net loss	$ (5,138)	$ (20,388)
Weighted average number of shares:
Weighted Average Number of Shares Outstanding, Basic and Diluted	25,009	24,294
Earnings Per Share [Abstract]
Loss from Continuing Operations, Per Basic and Diluted Share	$ (0.16)	$ (0.78)
Loss from Discontinued Operations, Net of Tax, Per Basic and Diluted Share	$ (0.05)	$ (0.06)
Earnings Per Share, Basic and Diluted	$ (0.21)	$ (0.84)

Unaudited Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net loss	$ (5,138)	$ (20,388)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,907	2,715
Stock-based compensation expense	609	784
Inventory impairments and option contract abandonments	31	221
Deferred and other income tax benefit	(19)	(102)
Provision for doubtful accounts	(156)	(51)
Income (Loss) from Equity Method Investments	319	36
Cash distributions of income from unconsolidated entities	56	200
Changes in operating assets and liabilities:
Decrease in accounts receivable	1,424	1,166
Decrease in income tax receivable	0	3,859
Increase in inventory	(63,062)	(38,703)
Decrease in other assets	1,594	1,093
Decrease in trade accounts payable	(23,295)	(13,206)
Decrease in other liabilities	(28,366)	(24,982)
Other changes	(144)	(23)
Net cash used in operating activities	(113,878)	(87,453)
Cash flows from investing activities:
Capital expenditures	(3,200)	(1,772)
Investments in unconsolidated entities	(2,164)	(115)
Increases in restricted cash	(728)	(278)
Decreases in restricted cash	551	2,083
Net cash used in investing activities	(5,541)	(82)
Cash flows from financing activities:
Repayment of debt	(2,035)	(1,902)
Debt issuance costs	(32)	(1,136)
Settlement of unconsolidated entity debt obligation	0	(500)
Payments for other financing activities	(413)	(26)
Net cash used in financing activities	(2,480)	(3,564)
Decrease in cash and cash equivalents	(121,899)	(91,099)
Cash and cash equivalents at beginning of period	504,459	487,795
Cash and cash equivalents at end of period	$ 382,560	$ 396,696

Summary of Significant Accounting Policies

3 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

The accompanying unaudited condensed consolidated financial statements of Beazer Homes USA, Inc. (Beazer Homes, Beazer or the Company) have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Such financial statements do not include all of the information and disclosures required by GAAP for complete financial statements. In our opinion, all adjustments (consisting primarily of normal recurring accruals) necessary for a fair presentation have been included in the accompanying financial statements. The results of our consolidated operations presented herein for the three months ended December 31, 2013 are not necessarily indicative of the results to be expected for the full year due to seasonal variations in operations and other items. For further information and a discussion of our significant accounting policies other than as discussed below, refer to our audited consolidated financial statements appearing in Beazer Homes’ Annual Report on Form 10-K for the fiscal year ended September 30, 2013 (the 2013 Annual Report).

Over the past few years, we have discontinued homebuilding operations in certain of our markets. Results from our title services business and our exit markets are reported as discontinued operations in the accompanying unaudited condensed consolidated statements of operations for all periods presented (see Note 14 for further discussion of our Discontinued Operations). Our net loss is equivalent to our comprehensive loss so we have not presented a separate statement of comprehensive loss. We evaluated events that occurred after the balance sheet date but before the financial statements were issued or were available to be issued for accounting treatment and disclosure.

Inventory Valuation. We assess our inventory assets no less than quarterly for recoverability in accordance with the policies as described in Notes 1 and 4 to the consolidated financial statements in our 2013 Annual Report. Our homebuilding inventories that are accounted for as held for development include land and home construction assets grouped together as communities. Homebuilding inventories held for development are stated at cost (including direct construction costs, capitalized indirect costs, capitalized interest and real estate taxes) unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. For those communities for which construction and development activities are expected to occur in the future or have been idled (land held for future development), all applicable interest and real estate taxes are expensed as incurred and the inventory is stated at cost unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. We record assets held for sale at the lower of the carrying value or fair value less costs to sell.

Other Liabilities. Other liabilities include the following:



(In thousands)	December 31, 2013		September 30, 2013
Income tax liabilities	$	20,367	$	20,170
Accrued warranty expenses	11,911		11,663
Accrued interest	20,060		33,372
Accrued and deferred compensation	11,354		25,579
Customer deposits	10,660		11,408
Other	42,966		43,431
Total	$	117,318	$	145,623

Recent Accounting Pronouncements. In April 2013, the FASB issued Accounting Standards Update (ASU) 2013-04, Liabilities

(ASU 2013-04), which provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. ASU 2013-04 is effective for the Company beginning October 1, 2014 and subsequent interim periods. The adoption of ASU 2013-04 is not expected to have a material effect on our condensed consolidated financial statements or disclosures.

In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a similar Tax Loss, or a Tax Credit Carryforward Exists, (ASU 2013-11). ASU 2013-11 which states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward with certain defined exceptions. ASU 2013-11 is intended to end inconsistent practices regarding the presentation of a unrecognized tax benefits when a net operating loss (NOL), a similar tax loss or a tax credit carryforward is available to reduce the taxable income or tax payable that would result from the disallowance of a tax position. ASU 2013-11 will be effective for the Company’s fiscal year beginning October 1, 2014 and subsequent interim periods. Early and retrospective adoption is permitted. The adoption of ASU 2013-11 is not expected to have a material effect on our condensed consolidated financial statements.

- Definition

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.

+ References+ Details

Supplemental Cash Flow Information

3 Months Ended

Dec. 31, 2013

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information



	Three Months Ended
	December 31,
(In thousands)	2013			2012
Supplemental disclosure of non-cash activity:
Decrease in obligations related to land not owned under option agreements	$	(1,486	)	$	(1,162	)
Land acquisitions for debt	5,400			—
Supplemental disclosure of cash activity:
Interest payments	43,778			39,024
Income tax payments	1			15
Tax refunds received	—			3,925

Investments in Unconsolidated Entities

3 Months Ended

Dec. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Joint Ventures

Investments in Unconsolidated Entities

As of December 31, 2013, we participated in certain land development joint ventures and other unconsolidated entities in which Beazer Homes had less than a controlling interest. 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 December 31, 2013 and September 30, 2013:



(In thousands)	December 31, 2013		September 30, 2013
Beazer’s investment in unconsolidated entities	$	47,424	$	44,997
Total equity of unconsolidated entities	387,913		385,040
Total outstanding borrowings of unconsolidated entities	96,549		85,938

For the three months ended December 31, 2013 and 2012, our income from unconsolidated entity activities, the impairments of our investments in certain of our unconsolidated entities, and the overall equity in income of unconsolidated entities is as follows:



	Three Months Ended
	December 31,
(In thousands)	2013		2012
Continuing operations:
Income from unconsolidated entity activity	$	319	$	36
Impairment of unconsolidated entity investment	—		—
Equity in income of unconsolidated entities - continuing operations	$	319	$	36

South Edge/Inspirada

The Company holds a minority (less than 10%) interest in Inspirada Builders LLC which was formed in connection with the bankruptcy and subsequent plan of reorganization of the South Edge joint venture. During the quarter ended December 31, 2011, we paid $15.9 million in connection with this plan of reorganization. Our right to acquire land in Las Vegas, Nevada from Inspirada is a component of our investment. 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. In addition to our initial payment, we, as a member of the Inspirada joint venture, will have obligations for a portion of future infrastructure and other development costs which are currently estimated at $6.7 million. In the next several months, we expect to receive land for our investment in Inspirada; however, there are still uncertainties with respect to the development density related to the land we will receive, 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, in future periods, we may be required to record adjustments to the carrying value of this Inspirada investment 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 an initial 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 December 31, 2013, we held a 15.0% investment in the REIT.

Periodically we provide services including treasury operations, cash management, accounting and financial reporting support, legal services, human resources support, environmental and safety services, and tax support to the REIT on an as needed basis.

Guarantees

Historically, Beazer and our land development joint venture partners provide varying levels of guarantees of debt and other obligations for these unconsolidated entities. As of December 31, 2013 and September 30, 2013, we had no outstanding guarantees or other obligations related to our unconsolidated entities.

During the fiscal year ended September 30, 2013, we entered into a settlement agreement related to one repayment guarantee, paid $0.5 million to settle our liability and recognized the remaining $0.2 million as other income.

We and our joint venture partners generally provide unsecured environmental indemnities to land development joint venture project lenders. In each case, we have performed due diligence on potential environmental risks. These indemnities obligate us to reimburse the project lenders for claims related to environmental matters for which they are held responsible. During the three months ended December 31, 2013 and 2012, we were not required to make any payments related to environmental indemnities.

In assessing the need to record a liability for the contingent aspect of these guarantees, we consider our historical experience in being required to perform under the guarantees, the fair value of the collateral underlying these guarantees and the financial condition of the applicable unconsolidated entities. In addition, we monitor the fair value of the collateral of these unconsolidated entities to ensure that the related borrowings do not exceed the specified percentage of the value of the property securing the borrowings. We have not recorded a liability for the contingent aspects of any guarantees that we determined were reasonably possible but not probable.

- Definition

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.

+ References+ Details

Inventory

3 Months Ended

Dec. 31, 2013

Real Estate [Abstract]

Inventory



(In thousands)	December 31, 2013		September 30, 2013
Homes under construction	$	260,359	$	262,476
Development projects in progress	611,736		578,453
Land held for future development	338,512		341,986
Land held for sale	59,924		31,331
Capitalized interest	61,836		52,562
Model homes	42,620		37,886
Total owned inventory	$	1,374,987	$	1,304,694

Homes under construction includes homes finished and ready for delivery and homes in various stages of construction. We had 133 ($33.4 million) and 113 ($30.7 million) substantially completed homes that were not subject to a sales contract (spec homes at December 31, 2013 and September 30, 2013, 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. Land held for sale in Unallocated and Other as of December 31, 2013 includes land held for sale in the markets we have decided to exit including Charlotte, North Carolina and Detroit, Michigan. Total owned inventory, by reportable segment, is set forth in the table below:



(In thousands)	Projects in Progress		Held for Future Development		Land Held for Sale		Total Owned Inventory
December 31, 2013
West Segment	$	351,217	$	292,835	$	19,791	$	663,843
East Segment	320,416		25,491		29,337		375,244
Southeast Segment	212,435		20,186		8,501		241,122
Unallocated and Other	92,483		—		2,295		94,778
Total	$	976,551	$	338,512	$	59,924	$	1,374,987
September 30, 2013
West Segment	$	339,319	$	292,875	$	16,572	$	648,766
East Segment	331,894		25,491		3,833		361,218
Southeast Segment	178,624		23,620		8,208		210,452
Unallocated and Other	81,540		—		2,718		84,258
Total	$	931,377	$	341,986	$	31,331	$	1,304,694

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 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.

As of December 31, 2013, one community in our West Segment was on our quarterly watch list. However, after additional financial and operational review, we determined that the factors contributing to profit margins below our threshold were temporary in nature and therefore the community was not subjected to further analysis.

In our impairment analyses for the quarter ended December 31, 2012, we 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 10.9% to 13.0% for the quarter ended December 31, 2012. 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 December 31, 2013 and 2012. 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.



($ in thousands)		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
Quarter Ended December 31, 2013
West	1	—	$	—	n/a
East	—	—	—		n/a
Southeast	—	—	—		n/a
Unallocated	—	—	—		n/a
Total	1	—	$	—	n/a
Quarter Ended December 31, 2012
West	—	—	$	—	n/a
East	3	3	9,588		107.0	%
Southeast	1	1	5,257		128.6	%
Unallocated	—	—	752		n/a
Total	4	4	$	15,597	114.0	%

There were no impairments recorded during the three months ended December 31, 2013 or 2012 related to our discounted cash flow analyses. The impairments on development projects and homes in process below for the quarter ended December 31, 2012 related to 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 analysis.

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. Market deterioration that exceeds our estimates may lead us to incur impairment charges on previously impaired homebuilding assets in addition to homebuilding assets not currently impaired but for which indicators of impairment may arise if markets deteriorate.

The impairments on land held for sale generally represent further write downs of these properties to net realizable value, less estimated costs to sell and are based on current market conditions and our review of recent comparable transactions at the applicable period end. 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 deteriorate.

Also, we have determined the proper course of action with respect to a number of communities within each homebuilding segment was to not exercise certain options and to write-off the deposits securing the option takedowns and pre-acquisition costs, as applicable. 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. Abandonment charges relate to our decision to abandon or not exercise certain option contracts that are not projected to produce adequate results or 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 three months ended December 31, 2013 and 2012, as applicable:



	Three Months Ended December 31,
(In thousands)	2013		2012
Development projects and homes in process (Held for Development)
West	$	—	$	46
East	—		13
Southeast	—		—
Unallocated	—		—
Subtotal	$	—	$	59
Land Held for Sale
West	$	—	$	—
East	31		—
Southeast	—		—
Subtotal	$	31	$	—
Lot Option Abandonments
West	$	—	$	74
East	—		22
Southeast	—		49
Unallocated	—		—
Subtotal	$	—	$	145
Continuing Operations	$	31	$	204
Discontinued Operations
Held for Development	$	—	$	—
Land Held for Sale	—		17
Lot Option Abandonments	—		—
Subtotal	$	—	$	17
Total Company	$	31	$	221

Lot Option Agreements and Variable Interest Entities (VIEs). As previously discussed, we also have access to land inventory through lot option contracts, which generally enable us to defer acquiring portions of properties owned by third parties and unconsolidated entities until we have determined whether to exercise our lot option. A majority of our lot option contracts require a non-refundable cash deposit or irrevocable letter of credit based on a percentage of the purchase price of the land for the right to acquire lots during a specified period of time at a 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. 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, 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 present the related option deposits as land not owned under option agreement in the accompanying unaudited condensed 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 December 31, 2013 and September 30, 2013:



(In thousands)	Deposits & Non-refundable Preacquisition Costs Incurred		Remaining Obligation		Land Not Owned Under Option Agreements
As of December 31, 2013
Consolidated VIEs	$	4,604	$	3,147	$	7,751
Unconsolidated lot option agreements	39,697		358,897		—
Total lot option agreements	$	44,301	$	362,044	$	7,751
As of September 30, 2013
Consolidated VIEs	$	4,491	$	4,633	$	9,124
Unconsolidated lot option agreements	32,822		284,005		—
Total lot option agreements	$	37,313	$	288,638	$	9,124

- Definition

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.

+ References+ Details

Interest

3 Months Ended

Dec. 31, 2013

Real Estate Inventory Capitalized Interest Costs [Abstract]

Interest

Our ability to capitalize all interest incurred during the three months ended December 31, 2013 and 2012 has been limited by our inventory eligible for capitalization. The following table sets forth certain information regarding interest:



	Three Months Ended December 31,
(In thousands)	2013			2012
Capitalized interest in inventory, beginning of period	$	52,562		$	38,190
Interest incurred	32,441			28,418
Interest expense not qualified for capitalization and included as other expense	(16,032		)	(16,211		)
Capitalized interest amortized to house construction and land sales expenses	(7,135		)	(8,475		)
Capitalized interest in inventory, end of period	$	61,836		$	41,922

Earnings Per Share	3 Months Ended
Earnings Per Share	Dec. 31, 2013
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share In computing diluted loss per share for the three months ended December 31, 2013 and 2012, all common stock equivalents were excluded from the computation of diluted loss per share as a result of their anti-dilutive effect. For the quarter ended December 31, 2013, these excluded common stock equivalents included options/stock-settled appreciation rights (SSARs) to purchase 0.7 million shares of common stock, 0.3 million shares of nonvested restricted stock and 6.5 million shares issuable upon the conversion of our Tangible Equity Unit (TEU) prepaid stock purchase contracts (PSPs). As of December 31, 2013, there were 4.6 million TEUs outstanding (including $14.2 million of amortizing notes). The PSPs related to the TEUs are scheduled to be settled in Beazer Homes' common stock on July 15, 2015. If on that date, our common stock price is (1) at or below $14.50 per share, the PSPs will convert to 1.72414 shares per unit, (2) at or above $17.75 per share, the PSPs will convert to 1.40746 shares per unit or (3) between $14.50 and $17.75 per share, the PSPs will convert to a number of shares of our common stock equal to $25.00 divided by the applicable market value of our common stock. If the remaining TEU PSPs were converted at the settlement factor under their agreement based on our current stock price, we would be required to issue approximately 6.5 million shares of common stock to the instrument holders upon conversion.

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Borrowings

3 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Borrowings

At December 31, 2013 and September 30, 2013 we had the following long-term debt, net of discounts:



(In thousands)	Maturity Date	December 31, 2013			September 30, 2013
8 1/8% Senior Notes	June 2016	172,879			172,879
6 5/8% Senior Secured Notes	April 2018	300,000			300,000
9 1/8% Senior Notes	June 2018	298,000			298,000
9 1/8% Senior Notes	May 2019	235,000			235,000
7 1/2% Senior Notes	September 2021	200,000			200,000
7 1/4% Senior Notes	February 2023	200,000			200,000
TEU Senior Amortizing Notes	August 2015	14,227			16,141
Unamortized debt discounts		(4,970		)	(5,160		)
Total Senior Notes, net		1,415,136			1,416,860
Junior subordinated notes	July 2036	54,187			53,670
Cash Secured Loan	November 2017	22,368			22,368
Other secured notes payable	Various Dates	24,564			19,285
Total debt, net		$	1,516,255		$	1,512,183

Secured Revolving Credit Facility — In September 2012, we amended and expanded our Secured Revolving Credit Facility from $22 million to $150 million. The 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 December 31, 2013, we were in compliance with all such covenants and had $150 million of available borrowings under the Secured Revolving Credit Facility. We have elected to cash collateralize all letters of credit; however, as of December 31, 2013, we have also pledged approximately $1 billion of inventory assets to our 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 December 31, 2013 or September 30, 2013.

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 December 31, 2013 and September 30, 2013, we have letters of credit outstanding of $24.7 million and $25.2 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.

The Company's Senior Notes are subject to indentures containing certain restrictive covenants which, among other things, restrict our ability to pay dividends, repurchase our common stock, incur additional indebtedness and to make certain investments. Specifically, all of our Senior Notes contain covenants that restrict our ability to incur additional indebtedness unless it is refinancing indebtedness or non-recourse indebtedness. The incurrence of refinancing indebtedness and non-recourse indebtedness, as defined in the applicable indentures, are exempted from the covenant test. As of December 31, 2013, we were not able to incur additional indebtedness, except refinancing or non-recourse indebtedness. Compliance with our Senior Note covenants does not significantly impact our operations. We were in compliance with the covenants contained in all of our Senior Notes as of December 31, 2013.

Our Senior Notes due 2016 (the 2016 Notes) contain the most restrictive covenants, including the consolidated tangible net worth covenant, which states that should consolidated tangible net worth fall below $85 million for two consecutive quarters, the Company is required to make an offer to purchase 10% of the 2016 Notes at par. If triggered and fully subscribed, this could result in our having to purchase $27.5 million of the 2016 Notes, which may be reduced by certain 2016 Note repurchases (potentially at less than par) made in the open market after the triggering date. As of December 31, 2013 our consolidated tangible net worth was $210.1 million, well in excess of the minimum covenant requirement.

In September 2013, we issued and sold $200 million aggregate principal amount of 7.500% Senior Notes due 2021 (the 2021 Notes) at a price of 98.541% (before underwriting and other issuance costs) through a private placement to qualified institutional buyers. Interest on the 2021 Notes is payable semi-annually in cash in arrears, beginning on March 15, 2014. The 2021 Notes will mature on September 15, 2021. Prior to maturity, we may, at our option, redeem the 2021 Notes at any time, in whole or in part, at specified redemption prices, which also include a customary make-whole premium provision through September 15, 2016. In January 2014, we called for the exchange of the 2021 Notes for notes that will be freely transferable and registered under the Securities Act of 1933.

In February 2013, we issued and sold $200 million aggregate principal amount of 7.25% Senior Notes due 2023 (the 2023 Notes) at par (before underwriting and other issuance costs) through a private placement to qualified institutional buyers. Interest on the 2023 Notes is payable semi-annually in cash in arrears, beginning August 1, 2013. The 2023 Notes will mature on February 1, 2023. Prior to maturity, we may, at our option, redeem the 2023 Notes at any time, in whole or in part, at specified redemption prices, which also include a customary make-whole premium provision through August 1, 2018. In August 2013, we exchanged 100% of the 2023 Notes for notes that are freely transferable and registered under the Securities Act of 1933.

The 2021 and 2023 Notes rank equally in right of payment with all of our existing and future senior unsecured obligations, senior to all of the Company's existing and future subordinated indebtedness and effectively subordinated to the Company's existing and future secured indebtedness, including indebtedness under our revolving credit facility and our 6.625% Senior Secured Notes due 2018, to the extent of the value of the assets securing such indebtedness. The 2021 and 2023 Notes and related guarantees are structurally subordinated to all indebtedness and other liabilities of all of the Company's subsidiaries that do not guarantee the 2021 or 2023 Notes. The 2021 and 2023 Notes are fully and unconditionally guaranteed jointly and severally on a senior basis by the Company's wholly-owned subsidiaries party to the Indenture.

During the fiscal year ended September 30, 2013, we used a portion of the net cash proceeds from the 2023 Notes offering to redeem all of our outstanding 6.875% Senior Notes due 2015 (the 2015 Notes). The 2015 Notes were redeemed at 101.146% of the principal amount, plus accrued and unpaid interest. During fiscal 2013, we also repurchased $2 million of our outstanding 9.125% Senior Notes due 2018 in open market transactions. These transactions resulted in a loss on debt extinguishment of $3.6 million, net of unamortized discounts and debt issuance costs recognized in the quarter ended March 31, 2013. 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 (the 2012 TEUs), which were comprised of prepaid stock purchase contracts (PSPs) 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 PSPs were originally accounted for as equity (additional paid in capital) at the initial fair value of these contracts based on the relative fair value method. The PSPs related to the 2012 TEUs are scheduled to be settled in Beazer Homes' common stock on July 15, 2015. See Note 7 for more information related to this future PSP settlement.

Junior Subordinated Notes — $103.1 million of unsecured junior subordinated notes 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 variable interest rate as defined in the junior subordinated notes agreement. The obligations relating to these notes and the related securities are subordinated to our Secured Revolving Credit Facility and Senior Notes. In January 2010, we modified the terms of $75 million of these notes and recorded these notes at their estimated fair value. Over the remaining life of the notes, we will increase their carrying value until this carrying value equals the face value of the notes. As of December 31, 2013, the unamortized accretion was $46.6 million and will be amortized over the remaining life of the notes.

As of December 31, 2013, we were in compliance with all covenants under our Junior Notes.

Cash Secured Loans — We have two separate loan facilities, totaling $22.4 million outstanding as of December 31, 2013. Borrowing under the cash secured loan facilities will replenish cash used to repay or repurchase the Company’s debt and would be considered “refinancing indebtedness” under certain of the Company’s existing indentures and debt covenants. However, because the loans are fully collateralized by cash equal to the loan amount, the loans do not provide liquidity to the Company.

The loans mature in November 2017, however, the lenders of these facilities may put the outstanding loan balances to the Company at the two or four year anniversaries of the loans. Borrowings under the facilities are fully secured by cash held by the lender or its affiliates. This secured cash is reflected as restricted cash on our unaudited condensed consolidated balance sheet as of December 31, 2013 and September 30, 2013. 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 fiscal year ended September 30, 2013, we repaid $205 million of the outstanding cash secured term loans and recognized a $1 million loss on debt extinguishment in the quarter ended September 30, 2013, primarily related related to the unamortized discounts and debt issuance costs related to these loans.

Other Secured Notes Payable — We periodically acquire land through the issuance of notes payable. As of December 31, 2013 and September 30, 2013, we had outstanding notes payable of $24.6 million and $19.3 million respectively, primarily related to land acquisitions. These notes payable have varying expiration dates between 2014 and 2019 and have a weighted average fixed rate of 4.02% at December 31, 2013. 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.

- Definition

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

3 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Income Taxes

For the three months ended December 31, 2013 and 2012, our non-cash tax provision/benefit from continuing operations primarily related to a change in our prior year's recognized tax benefits.

As of December 31, 2013 and September 30, 2013, we had $2.7 million and $2.6 million of accrued interest and penalties related to our unrecognized tax benefits, respectively.

In the normal course of business, we are subject to audits by federal and state tax authorities. Our federal income tax returns for fiscal years 2007 through 2010 are under Internal Revenue Service (IRS) appeal. Our federal income tax returns for fiscal years 2011 through 2012 and certain state income tax returns for various fiscal years are under routine examination. The statute of limitations for our major tax jurisdictions remains open for examination for fiscal years 2007 and subsequent years. The final outcome of these appeals and examinations are not yet determinable and therefore the change in our unrecognized tax benefits that could occur within the next 12 months cannot be estimated at this time.

Based upon an evaluation of all available evidence, we established a valuation allowance for substantially all of our deferred tax assets during fiscal 2008. As of December 31, 2013, we continued our evaluation of whether the valuation allowance against our deferred tax assets was still required. We considered positive evidence including evidence of recovery in the housing markets where we operate, the prospects of continued profitability and growth, a strong backlog and sufficient balance sheet liquidity to sustain and grow operations. Although the Company’s performance and current positioning is bringing it closer to a conclusion that a valuation allowance is no longer needed, further evidence of sustained profitability is needed to reverse our valuation allowance against our deferred tax assets. Therefore, based upon all available positive and negative evidence, we concluded a valuation allowance is still needed for substantially all of our gross deferred tax assets at December 31, 2013. The Company's deferred tax asset valuation allowance was $489.0 million and $487.3 million as of December 31, 2013 and September 30, 2013, respectively. In future periods, we expect to reduce all or a portion of our valuation allowance, generating a non-cash tax benefit, if sufficient positive evidence is present indicating that more likely than not a portion or all 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. Due to the Section 382 limitation and the maximum carryforward period of our NOLs, we will be unable to fully recognize certain deferred tax assets. 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 $548.6 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 December 31, 2013, we estimate that between $50.9 million and $88.4 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 $405.9 million and $443.4 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.

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



(In thousands)	December 31, 2013
Deferred tax assets:
Subject to annual limitation	$	98,232
Generally not subject to annual limitation	361,951
Certain components likely to be subject to annual limitation	88,437
Total deferred tax assets	548,620
Deferred tax liabilities	(54,257		)
Net deferred tax assets before valuation allowance	494,363
Valuation allowance	(489,030		)
Net deferred tax assets	$	5,333

- Definition

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.

+ References+ Details

Contingencies

3 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

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.

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. Therefore, 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 unaudited condensed 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 December 31, 2013, 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:



	Three Months Ended
	December 31,
(In thousands)	2013			2012
Balance at beginning of period	$	11,663		$	15,477
Accruals for warranties issued	1,123			1,428
Changes in liability related to warranties existing in prior periods	1,743			(1,302		)
Payments made	(2,618		)	(1,261		)
Balance at end of period	$	11,911		$	14,342

Litigation

As disclosed in prior SEC filings, we operated Beazer Mortgage Corporation (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. In general underwriting decisions were not made by BMC but by the investors themselves or third-party service providers. From time to time we have received claims from institutions which have acquired certain of these mortgages demanding damages or indemnity arising from BMC's activities or that we repurchase such mortgages. We have been able to resolve these claims for amounts that are not material to our consolidated financial position or results of operation. We currently have an insignificant number of such claims outstanding for which we believe we have no liability. 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 December 31, 2013, no liability has been recorded for any such additional claims as such exposure is not both probable 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 adverse 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 had 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 $16.6 million has been paid as of December 31, 2013 and an additional $4.5 million has been recorded as a liability at December 31, 2013. 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. Although we believe that we have significant defenses to the alleged violations, we reached a settlement with the Department, through an Administrative Consent Order (the “ACO”). Pursuant to the ACO, we agreed to pay a penalty of $125,000 and donate a 35-acre parcel of land to a local soil conservation district (or make an additional $250,000 payment if the parcel cannot be conveyed). We have paid the $125,000 penalty and are in the process of completing actions that will allow us to convey the 35-acre donation parcel.

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 $21.4 million and $19.9 million in other liabilities related to litigation and other matters, excluding warranty, as of December 31, 2013 and September 30, 2013, respectively.

We had outstanding letters of credit and performance bonds of approximately $24.7 million and $176.5 million, respectively, at December 31, 2013 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 December 31, 2013.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Fair Value Measurements

3 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

As of December 31, 2013, we had no assets or liabilities in our unaudited condensed 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.

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. 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 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 three months ended December 31, 2013 and 2012:



(In thousands)	Level 1	Level 2	Level 3		Total
Three Months Ended December 31, 2013
Land held for sale	—	—	$	3,536	$	3,536
Three Months Ended December 31, 2012
Land held for sale	—	—	$	—	$	—

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 December 31, 2013				As of September 30, 2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior Notes	$	1,415,136	$	1,511,651	$	1,416,860	$	1,469,904
Junior Subordinated Notes	54,187		54,187		53,670		53,670
	$	1,469,323	$	1,565,838	$	1,470,530	$	1,523,574

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

- Definition

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.

+ References+ Details

Stock-based Compensation

3 Months Ended

Dec. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based Compensation

For the three months ended December 31, 2013, our total stock-based compensation, included in general and administrative expenses (G&A), was approximately $0.6 million ($0.5 million net of tax). The fair value of each option/stock-based stock appreciation right (SSAR) grant is estimated on the date of grant using the Black-Scholes option-pricing model. The fair value of each performance-based, nonvested stock grant is estimated on the date of grant using the Monte Carlo valuation method. The cash-settled component of any awards granted to employees are accounted for as a liability award and the liability is adjusted to fair value each reporting period until vested. Non-performance based, nonvested stock is valued based on the market price of the common stock on the date of the grant.

During the three months ended December 31, 2013 and 2012, employees surrendered 21,693 and 1,306 shares, respectively, to us in payment of minimum tax obligations upon the vesting of stock awards under our stock incentive plans. We valued the stock at the market price on the date of surrender, for an aggregate value of approximately $413,000 and $19,000 for the three months ended December 31, 2013 and 2012, respectively.

Stock Options: We used the following weighted-average assumptions for our options granted during the three months ended December 31, 2013:



Expected life of options	5.1 years
Expected volatility	45.99		%
Expected discrete dividends	—
Weighted average risk-free interest rate	1.42		%
Weighted average fair value	$	7.97

We considered the historic returns of our stock and the implied volatility of our publicly-traded options in determining expected volatility. We assumed no dividends would be paid since our Board of Directors has suspended payment of dividends indefinitely and payment of dividends is restricted under our Senior Note covenants. The risk-free interest rate is based on the term structure of interest rates at the time of the option grant 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 December 31, 2013, our SSAR/stock options outstanding had an intrinsic value of $4.5 million. The intrinsic value of SSARs/stock options vested and expected to vest in the future was $4.5 million. The SSARS/stock options vested and expected to vest in the future had a weighted average expected life of 2.9 years. The aggregate intrinsic value of exercisable SSARs/stock options as of December 31, 2013 was $2.0 million.

The following table summarizes stock options and SSARs outstanding as of December 31, 2013, as well as activity during the three months then ended:



	Three Months Ended
	December 31, 2013
	Shares		Weighted- Average Exercise Price
Outstanding at beginning of period	560,784		$	33.01
Granted	161,010		19.11
Exercised	(106	)	10.80
Forfeited	(561	)	15.23
Outstanding at end of period	721,127		$	29.92
Exercisable at end of period	416,917		$	39.93
Vested or expected to vest in the future	715,768		$	30.02

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 December 31, 2013 and September 30, 2013, there was $2.7 million and $1.0 million, respectively, of total unrecognized compensation cost related to nonvested stock awards included in paid-in capital. The cost remaining at December 31, 2013 is expected to be recognized over a weighted average period of 1.8 years.

During the three months ended December 31, 2013, we issued 28,690 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 applicable award agreement. Payment for Performance Shares in excess of the target number (28,690) 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 $15.90 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 35.0% to 59.1% and a risk-free interest rate of 0.66%. 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 three months ended December 31, 2013 is as follows:



	Three Months Ended
	December 31, 2013
	Shares		Weighted Average Grant Date Fair Value
Beginning of period	280,416		$	12.32
Granted	135,567		17.53
Vested	(102,038	)	16.64
Forfeited	(1,090	)	10.77
End of period	312,855		$	13.18

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Segment Information

3 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Information

We have three homebuilding segments operating in 16 states. Revenues in our homebuilding segments are derived from the sale of homes which we construct and from land and lot sales. Our reportable segments have been determined on a basis that is used internally by management for evaluating segment performance and resource allocations. 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. The accounting policies of our segments are those described in Note 1 above and Note 1 to our consolidated financial statements in our 2013 Annual Report.



	Three Months Ended
	December 31,
(In thousands)	2013		2012
Revenue
West	$	122,576	$	110,126
East	107,589		96,539
Southeast	63,005		40,237
Total revenue	$	293,170	$	246,902



	Three Months Ended
	December 31,
(In thousands)	2013			2012
Operating income (loss)
West	$	15,762		$	8,358
East	8,235			6,188
Southeast	5,628			2,330
Segment total	29,625			16,876
Corporate and unallocated (a)	(18,093		)	(20,477		)
Total operating income (loss)	$	11,532		$	(3,601	)



	Three Months Ended
	December 31,
(In thousands)	2013		2012
Depreciation and amortization
West	$	1,382	$	1,022
East	692		683
Southeast	391		318
Segment total	2,465		2,023
Corporate and unallocated (a)	442		692
Depreciation and amortization - continuing operations	$	2,907	$	2,715



	Three Months Ended
	December 31,
(In thousands)	2013		2012
Capital Expenditures
West	$	1,102	$	815
East	1,367		231
Southeast	446		24
Corporate and unallocated	285		702
Consolidated total	$	3,200	$	1,772



(In thousands)	December 31, 2013		September 30, 2013
Assets
West	$	691,337	$	680,346
East	384,620		369,937
Southeast	256,317		228,814
Corporate and unallocated (b)	600,559		707,692
Consolidated total	$	1,932,833	$	1,986,789


(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.


(b)	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.

- Definition

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.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 32

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 29

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 34

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 35

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 41

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 30

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 42

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 31

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 40

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 33

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

+ Details

Supplemental Guarantor Information

3 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Supplemental Guarantor information

Supplemental Guarantor Information

As discussed in Note 7, our obligations to pay principal, premium, if any, and interest under certain debt are guaranteed on a joint and several basis by substantially all of our subsidiaries. Certain of our immaterial subsidiaries do not guarantee our Senior Notes or our Secured Revolving Credit Facility. The guarantees are full and unconditional and the guarantor subsidiaries are 100% owned by Beazer Homes USA, Inc.



	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	388,595	$	69	$	1,534	$	(7,638	)	$	382,560
Restricted cash	48,268		887		—		—			49,155
Accounts receivable (net of allowance of $1,495)	—		21,072		2		—			21,074
Income tax receivable	2,813		—		—		—			2,813
Owned inventory	—		1,374,987		—		—			1,374,987
Consolidated inventory not owned	—		7,751		—		—			7,751
Investments in unconsolidated entities	773		46,651		—		—			47,424
Deferred tax assets, net	5,333		—		—		—			5,333
Property, plant and equipment, net	—		17,437		—		—			17,437
Investments in subsidiaries	141,371		—		—		(141,371		)	—
Intercompany	1,163,078		—		2,417		(1,165,495		)	—
Other assets	18,367		5,642		290		—			24,299
Total assets	$	1,768,598	$	1,474,496	$	4,243	$	(1,314,504	)	$	1,932,833
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	60,505	$	—	$	—		$	60,505
Other liabilities	38,882		77,360		1,076		—			117,318
Intercompany	2,417		1,170,716		—		(1,173,133		)	—
Obligations related to land not owned under option agreements	—		3,147		—		—			3,147
Total debt (net of discounts of $4,970)	1,491,691		24,564		—		—			1,516,255
Total liabilities	1,532,990		1,336,292		1,076		$	(1,173,133	)	1,697,225
Stockholders’ equity	235,608		138,204		3,167		(141,371		)	235,608
Total liabilities and stockholders’ equity	$	1,768,598	$	1,474,496	$	4,243	$	(1,314,504	)	$	1,932,833



	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	499,341	$	6,324	$	1,637	$	(2,843	)	$	504,459
Restricted cash	47,873		1,105		—		—			48,978
Accounts receivable (net of allowance of $1,651)	—		22,339		3		—			22,342
Income tax receivable	2,813		—		—		—			2,813
Owned inventory	—		1,304,694		—		—			1,304,694
Consolidated inventory not owned	—		9,124		—		—			9,124
Investments in unconsolidated entities	773		44,224		—		—			44,997
Deferred tax assets, net	5,253		—		—		—			5,253
Property, plant and equipment, net	—		17,000		—		—			17,000
Investments in subsidiaries	123,600		—		—		(123,600		)	—
Intercompany	1,088,949		—		2,747		(1,091,696		)	—
Other assets	19,602		7,147		380		—			27,129
Total assets	$	1,788,204	$	1,411,957	$	4,767	$	(1,218,139	)	$	1,986,789
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	83,800	$	—	$	—		$	83,800
Other liabilities	52,009		92,384		1,230		—			145,623
Intercompany	2,747		1,091,792		—		(1,094,539		)	—
Obligations related to land not owned under option agreements	—		4,633		—		—			4,633
Total debt (net of discounts of $5,160)	1,492,898		19,285		—		—			1,512,183
Total liabilities	1,547,654		1,291,894		1,230		$	(1,094,539	)	1,746,239
Stockholders’ equity	240,550		120,063		3,537		(123,600		)	240,550
Total liabilities and stockholders’ equity	$	1,788,204	$	1,411,957	$	4,767	$	(1,218,139	)	$	1,986,789

Beazer Homes USA, Inc.

Unaudited Consolidating Statement of Operations Information

(In thousands)



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2013
Total revenue	$	—		$	293,170		$	80		$	(80	)	$	293,170
Home construction and land sales expenses	7,135			231,414			—			(80		)	238,469
Inventory impairments and option contract abandonments	—			31			—			—			31
Gross (loss) profit	(7,135		)	61,725			80			—			54,670
Commissions	—			11,821			—			—			11,821
General and administrative expenses	—			28,383			27			—			28,410
Depreciation and amortization	—			2,907			—			—			2,907
Operating (loss) income	(7,135		)	18,614			53			—			11,532
Equity in income of unconsolidated entities	—			319			—			—			319
Other (expense) income, net	(16,032		)	278			(3		)	—			(15,757		)
(Loss) income before income taxes	(23,167		)	19,211			50			—			(3,906		)
Provision for (benefit from) income taxes	141			(117		)	18			—			42
Equity in income of subsidiaries	19,360			—			—			(19,360		)	—
(Loss) income from continuing operations	(3,948		)	19,328			32			(19,360		)	(3,948		)
Loss from discontinued operations	—			(1,187		)	(3		)	—			(1,190		)
Equity in loss of subsidiaries	(1,190		)	—			—			1,190			—
Net (loss) income	$	(5,138	)	$	18,141		$	29		$	(18,170	)	$	(5,138	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2012
Total revenue	$	—		$	246,902		$	217		$	(217	)	$	246,902
Home construction and land sales expenses	8,475			202,356			—			(217		)	210,614
Inventory impairments and option contract abandonments	—			204			—			—			204
Gross (loss) profit	(8,475		)	44,342			217			—			36,084
Commissions	—			10,642			—			—			10,642
General and administrative expenses	—			26,301			27			—			26,328
Depreciation and amortization	—			2,715			—			—			2,715
Operating (loss) income	(8,475		)	4,684			190			—			(3,601		)
Equity in income of unconsolidated entities	—			36			—			—			36
Other (expense) income, net	(16,211		)	580			4			—			(15,627		)
(Loss) income before income taxes	(24,686		)	5,300			194			—			(19,192		)
(Benefit from) provision for income taxes	(437		)	94			90			—			(253		)
Equity in income of subsidiaries	5,310			—			—			(5,310		)	—
(Loss) income from continuing operations	(18,939		)	5,206			104			(5,310		)	(18,939		)
Loss (income) from discontinued operations	—			(1,491		)	42			—			(1,449		)
Equity in loss of subsidiaries	(1,449		)	—			—			1,449			—
Net (loss) income	$	(20,388	)	$	3,715		$	146		$	(3,861	)	$	(20,388	)



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2013
Net cash used in operating activities	$	(37,161	)	$	(76,683	)	$	(34	)	$	—		$	(113,878	)
Cash flows from investing activities:
Capital expenditures	—			(3,200		)	—			—			(3,200		)
Investments in unconsolidated entities	—			(2,164		)	—			—			(2,164		)
Increases in restricted cash	(433		)	(295		)	—			—			(728		)
Decreases in restricted cash	39			512			—			—			551
Net cash used in investing activities	(394		)	(5,147		)	—			—			(5,541		)
Cash flows from financing activities:
Repayment of debt	(1,913		)	(122		)	—			—			(2,035		)
Debt issuance costs	(32		)	—			—			—			(32		)
Advances to/from subsidiaries	(70,833		)	75,697			(69		)	(4,795		)	—
Payments for other financing activities	(413		)	—			—			—			(413		)
Net cash (used in) provided by financing activities	(73,191		)	75,575			(69		)	(4,795		)	(2,480		)
Decrease in cash and cash equivalents	(110,746		)	(6,255		)	(103		)	(4,795		)	(121,899		)
Cash and cash equivalents at beginning of period	499,341			6,324			1,637			(2,843		)	504,459
Cash and cash equivalents at end of period	$	388,595		$	69		$	1,534		$	(7,638	)	$	382,560
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2012
Net cash provided by (used in) operating activities	$	315		$	(87,817	)	$	49		$	—		$	(87,453	)
Cash flows from investing activities:
Capital expenditures	—			(1,772		)	—			—			(1,772		)
Investments in unconsolidated entities	—			(115		)	—			—			(115		)
Increases in restricted cash	(132		)	(146		)	—			—			(278		)
Decreases in restricted cash	1,958			125			—			—			2,083
Net cash provided by (used in) investing activities	1,826			(1,908		)	—			—			(82		)
Cash flows from financing activities:
Repayment of debt	(1,861		)	(41		)	—			—			(1,902		)
Settlement of unconsolidated entity debt obligations	—			(500		)	—			—			(500		)
Debt issuance costs	(1,136		)	—			—			—			(1,136		)
Advances to/from subsidiaries	(81,834		)	82,982			(96		)	(1,052		)	—
Payments for other financing activities	(26		)	—			—			—			(26		)
Net cash (used in) provided by financing activities	(84,857		)	82,441			(96		)	(1,052		)	(3,564		)
Decrease in cash and cash equivalents	(82,716		)	(7,284		)	(47		)	(1,052		)	(91,099		)
Cash and cash equivalents at beginning of period	481,394			8,215			646			(2,460		)	487,795
Cash and cash equivalents at end of period	$	398,678		$	931		$	599		$	(3,512	)	$	396,696

Discontinued Operations

3 Months Ended

Dec. 31, 2013

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 shareholder value. This review entails an evaluation of both external market factors and our position in each market and over time has resulted in the decision to discontinue certain of our homebuilding operations.

We have classified the results of operations of our discontinued operations in the accompanying unaudited condensed consolidated statements of operations for all periods presented. There were no material assets or liabilities related to our discontinued operations as of December 31, 2013 or September 30, 2013. Discontinued operations were not segregated in the unaudited condensed consolidated statements of cash flows. Therefore, amounts for certain captions in the unaudited condensed consolidated statements of cash flows will not agree with the respective data in the unaudited condensed consolidated statements of operations. The results of our discontinued operations in the unaudited condensed consolidated statements of operations for the three months ended December 31, 2013 and 2012 were as follows:



	Three Months Ended
	December 31,
(In thousands)	2013			2012
Total revenue	$	464		$	96
Home construction and land sales expenses	1,455			94
Inventory impairments and lot option abandonments	—			17
Gross loss	(991		)	(15		)
General and administrative expenses	189			1,525
Operating loss	(1,180		)	(1,540		)
Other income, net	—			69
Loss from discontinued operations before income taxes	(1,180		)	(1,471		)
Provision for (benefit from) income taxes	10			(22		)
Loss from discontinued operations, net of tax	$	(1,190	)	$	(1,449	)

- Definition

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).

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 45

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 45

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

+ Details

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]
Inventory Valuation	Inventory Valuation. We assess our inventory assets no less than quarterly for recoverability in accordance with the policies as described in Notes 1 and 4 to the consolidated financial statements in our 2013 Annual Report. Our homebuilding inventories that are accounted for as held for development include land and home construction assets grouped together as communities. Homebuilding inventories held for development are stated at cost (including direct construction costs, capitalized indirect costs, capitalized interest and real estate taxes) unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. For those communities for which construction and development activities are expected to occur in the future or have been idled (land held for future development), all applicable interest and real estate taxes are expensed as incurred and the inventory is stated at cost unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. We record assets held for sale at the lower of the carrying value or fair value less costs to sell.
Recent Accounting Pronouncements	Recent Accounting Pronouncements. In April 2013, the FASB issued Accounting Standards Update (ASU) 2013-04, Liabilities (ASU 2013-04), which provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. ASU 2013-04 is effective for the Company beginning October 1, 2014 and subsequent interim periods. The adoption of ASU 2013-04 is not expected to have a material effect on our condensed consolidated financial statements or disclosures. In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a similar Tax Loss, or a Tax Credit Carryforward Exists, (ASU 2013-11). ASU 2013-11 which states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward with certain defined exceptions. ASU 2013-11 is intended to end inconsistent practices regarding the presentation of a unrecognized tax benefits when a net operating loss (NOL), a similar tax loss or a tax credit carryforward is available to reduce the taxable income or tax payable that would result from the disallowance of a tax position. ASU 2013-11 will be effective for the Company’s fiscal year beginning October 1, 2014 and subsequent interim periods. Early and retrospective adoption is permitted. The adoption of ASU 2013-11 is not expected to have a material effect on our condensed consolidated financial statements.

- Definition

Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory.

+ References+ Details

Investments in Unconsolidated Joint Ventures (Tables)

3 Months Ended

Dec. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

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 December 31, 2013 and September 30, 2013:



(In thousands)	December 31, 2013		September 30, 2013
Beazer’s investment in unconsolidated entities	$	47,424	$	44,997
Total equity of unconsolidated entities	387,913		385,040
Total outstanding borrowings of unconsolidated entities	96,549		85,938



	Three Months Ended
	December 31,
(In thousands)	2013		2012
Continuing operations:
Income from unconsolidated entity activity	$	319	$	36
Impairment of unconsolidated entity investment	—		—
Equity in income of unconsolidated entities - continuing operations	$	319	$	36

Inventory (Tables)

3 Months Ended

Dec. 31, 2013

Real Estate [Abstract]

Schedule of Inventory



(In thousands)	December 31, 2013		September 30, 2013
Homes under construction	$	260,359	$	262,476
Development projects in progress	611,736		578,453
Land held for future development	338,512		341,986
Land held for sale	59,924		31,331
Capitalized interest	61,836		52,562
Model homes	42,620		37,886
Total owned inventory	$	1,374,987	$	1,304,694

Schedule of Total Owned Inventory, by Segment

Total owned inventory, by reportable segment, is set forth in the table below:



(In thousands)	Projects in Progress		Held for Future Development		Land Held for Sale		Total Owned Inventory
December 31, 2013
West Segment	$	351,217	$	292,835	$	19,791	$	663,843
East Segment	320,416		25,491		29,337		375,244
Southeast Segment	212,435		20,186		8,501		241,122
Unallocated and Other	92,483		—		2,295		94,778
Total	$	976,551	$	338,512	$	59,924	$	1,374,987
September 30, 2013
West Segment	$	339,319	$	292,875	$	16,572	$	648,766
East Segment	331,894		25,491		3,833		361,218
Southeast Segment	178,624		23,620		8,208		210,452
Unallocated and Other	81,540		—		2,718		84,258
Total	$	931,377	$	341,986	$	31,331	$	1,304,694

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 December 31, 2013 and 2012. 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.



($ in thousands)		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
Quarter Ended December 31, 2013
West	1	—	$	—	n/a
East	—	—	—		n/a
Southeast	—	—	—		n/a
Unallocated	—	—	—		n/a
Total	1	—	$	—	n/a
Quarter Ended December 31, 2012
West	—	—	$	—	n/a
East	3	3	9,588		107.0	%
Southeast	1	1	5,257		128.6	%
Unallocated	—	—	752		n/a
Total	4	4	$	15,597	114.0	%

Summary of Discounted Cash Flow Analysis

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



	Three Months Ended December 31,
(In thousands)	2013		2012
Development projects and homes in process (Held for Development)
West	$	—	$	46
East	—		13
Southeast	—		—
Unallocated	—		—
Subtotal	$	—	$	59
Land Held for Sale
West	$	—	$	—
East	31		—
Southeast	—		—
Subtotal	$	31	$	—
Lot Option Abandonments
West	$	—	$	74
East	—		22
Southeast	—		49
Unallocated	—		—
Subtotal	$	—	$	145
Continuing Operations	$	31	$	204
Discontinued Operations
Held for Development	$	—	$	—
Land Held for Sale	—		17
Lot Option Abandonments	—		—
Subtotal	$	—	$	17
Total Company	$	31	$	221

Summary of Interests in Lot Option Agreements

The following provides a summary of our interests in lot option agreements as of December 31, 2013 and September 30, 2013:



(In thousands)	Deposits & Non-refundable Preacquisition Costs Incurred		Remaining Obligation		Land Not Owned Under Option Agreements
As of December 31, 2013
Consolidated VIEs	$	4,604	$	3,147	$	7,751
Unconsolidated lot option agreements	39,697		358,897		—
Total lot option agreements	$	44,301	$	362,044	$	7,751
As of September 30, 2013
Consolidated VIEs	$	4,491	$	4,633	$	9,124
Unconsolidated lot option agreements	32,822		284,005		—
Total lot option agreements	$	37,313	$	288,638	$	9,124

Interest (Tables)

3 Months Ended

Dec. 31, 2013

Real Estate Inventory Capitalized Interest Costs [Abstract]

Real Estate Inventory, Capitalized Interest Costs

The following table sets forth certain information regarding interest:



	Three Months Ended December 31,
(In thousands)	2013			2012
Capitalized interest in inventory, beginning of period	$	52,562		$	38,190
Interest incurred	32,441			28,418
Interest expense not qualified for capitalization and included as other expense	(16,032		)	(16,211		)
Capitalized interest amortized to house construction and land sales expenses	(7,135		)	(8,475		)
Capitalized interest in inventory, end of period	$	61,836		$	41,922

Borrowings (Tables)

3 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Schedule of long-term debt

At December 31, 2013 and September 30, 2013 we had the following long-term debt, net of discounts:



(In thousands)	Maturity Date	December 31, 2013			September 30, 2013
8 1/8% Senior Notes	June 2016	172,879			172,879
6 5/8% Senior Secured Notes	April 2018	300,000			300,000
9 1/8% Senior Notes	June 2018	298,000			298,000
9 1/8% Senior Notes	May 2019	235,000			235,000
7 1/2% Senior Notes	September 2021	200,000			200,000
7 1/4% Senior Notes	February 2023	200,000			200,000
TEU Senior Amortizing Notes	August 2015	14,227			16,141
Unamortized debt discounts		(4,970		)	(5,160		)
Total Senior Notes, net		1,415,136			1,416,860
Junior subordinated notes	July 2036	54,187			53,670
Cash Secured Loan	November 2017	22,368			22,368
Other secured notes payable	Various Dates	24,564			19,285
Total debt, net		$	1,516,255		$	1,512,183

- Definition

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.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

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

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 55

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

Contingencies (Tables)

3 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

Warranty reserves

Our warranty reserves are as follows:



	Three Months Ended
	December 31,
(In thousands)	2013			2012
Balance at beginning of period	$	11,663		$	15,477
Accruals for warranties issued	1,123			1,428
Changes in liability related to warranties existing in prior periods	1,743			(1,302		)
Payments made	(2,618		)	(1,261		)
Balance at end of period	$	11,911		$	14,342

Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

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



(In thousands)	Level 1	Level 2	Level 3		Total
Three Months Ended December 31, 2013
Land held for sale	—	—	$	3,536	$	3,536
Three Months Ended December 31, 2012
Land held for sale	—	—	$	—	$	—

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 December 31, 2013				As of September 30, 2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior Notes	$	1,415,136	$	1,511,651	$	1,416,860	$	1,469,904
Junior Subordinated Notes	54,187		54,187		53,670		53,670
	$	1,469,323	$	1,565,838	$	1,470,530	$	1,523,574

Stock-based compensation (Tables)

3 Months Ended

Dec. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of assumptions for stock options granted during period

We used the following weighted-average assumptions for our options granted during the three months ended December 31, 2013:



Expected life of options	5.1 years
Expected volatility	45.99		%
Expected discrete dividends	—
Weighted average risk-free interest rate	1.42		%
Weighted average fair value	$	7.97

Schedule of stock options and SSARs outstanding, as well as related activity

The following table summarizes stock options and SSARs outstanding as of December 31, 2013, as well as activity during the three months then ended:



	Three Months Ended
	December 31, 2013
	Shares		Weighted- Average Exercise Price
Outstanding at beginning of period	560,784		$	33.01
Granted	161,010		19.11
Exercised	(106	)	10.80
Forfeited	(561	)	15.23
Outstanding at end of period	721,127		$	29.92
Exercisable at end of period	416,917		$	39.93
Vested or expected to vest in the future	715,768		$	30.02

Schedule of nonvested stock awards activity

Activity relating to nonvested stock awards, including the Performance Shares for the three months ended December 31, 2013 is as follows:



	Three Months Ended
	December 31, 2013
	Shares		Weighted Average Grant Date Fair Value
Beginning of period	280,416		$	12.32
Granted	135,567		17.53
Vested	(102,038	)	16.64
Forfeited	(1,090	)	10.77
End of period	312,855		$	13.18

Segment Information (Tables)

3 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Schedule of segment reporting information



	Three Months Ended
	December 31,
(In thousands)	2013		2012
Revenue
West	$	122,576	$	110,126
East	107,589		96,539
Southeast	63,005		40,237
Total revenue	$	293,170	$	246,902



	Three Months Ended
	December 31,
(In thousands)	2013			2012
Operating income (loss)
West	$	15,762		$	8,358
East	8,235			6,188
Southeast	5,628			2,330
Segment total	29,625			16,876
Corporate and unallocated (a)	(18,093		)	(20,477		)
Total operating income (loss)	$	11,532		$	(3,601	)



	Three Months Ended
	December 31,
(In thousands)	2013		2012
Depreciation and amortization
West	$	1,382	$	1,022
East	692		683
Southeast	391		318
Segment total	2,465		2,023
Corporate and unallocated (a)	442		692
Depreciation and amortization - continuing operations	$	2,907	$	2,715



	Three Months Ended
	December 31,
(In thousands)	2013		2012
Capital Expenditures
West	$	1,102	$	815
East	1,367		231
Southeast	446		24
Corporate and unallocated	285		702
Consolidated total	$	3,200	$	1,772



(In thousands)	December 31, 2013		September 30, 2013
Assets
West	$	691,337	$	680,346
East	384,620		369,937
Southeast	256,317		228,814
Corporate and unallocated (b)	600,559		707,692
Consolidated total	$	1,932,833	$	1,986,789


(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.


(b)	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.

- Definition

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)

3 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Unaudited 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	$	388,595	$	69	$	1,534	$	(7,638	)	$	382,560
Restricted cash	48,268		887		—		—			49,155
Accounts receivable (net of allowance of $1,495)	—		21,072		2		—			21,074
Income tax receivable	2,813		—		—		—			2,813
Owned inventory	—		1,374,987		—		—			1,374,987
Consolidated inventory not owned	—		7,751		—		—			7,751
Investments in unconsolidated entities	773		46,651		—		—			47,424
Deferred tax assets, net	5,333		—		—		—			5,333
Property, plant and equipment, net	—		17,437		—		—			17,437
Investments in subsidiaries	141,371		—		—		(141,371		)	—
Intercompany	1,163,078		—		2,417		(1,165,495		)	—
Other assets	18,367		5,642		290		—			24,299
Total assets	$	1,768,598	$	1,474,496	$	4,243	$	(1,314,504	)	$	1,932,833
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	60,505	$	—	$	—		$	60,505
Other liabilities	38,882		77,360		1,076		—			117,318
Intercompany	2,417		1,170,716		—		(1,173,133		)	—
Obligations related to land not owned under option agreements	—		3,147		—		—			3,147
Total debt (net of discounts of $4,970)	1,491,691		24,564		—		—			1,516,255
Total liabilities	1,532,990		1,336,292		1,076		$	(1,173,133	)	1,697,225
Stockholders’ equity	235,608		138,204		3,167		(141,371		)	235,608
Total liabilities and stockholders’ equity	$	1,768,598	$	1,474,496	$	4,243	$	(1,314,504	)	$	1,932,833



	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	499,341	$	6,324	$	1,637	$	(2,843	)	$	504,459
Restricted cash	47,873		1,105		—		—			48,978
Accounts receivable (net of allowance of $1,651)	—		22,339		3		—			22,342
Income tax receivable	2,813		—		—		—			2,813
Owned inventory	—		1,304,694		—		—			1,304,694
Consolidated inventory not owned	—		9,124		—		—			9,124
Investments in unconsolidated entities	773		44,224		—		—			44,997
Deferred tax assets, net	5,253		—		—		—			5,253
Property, plant and equipment, net	—		17,000		—		—			17,000
Investments in subsidiaries	123,600		—		—		(123,600		)	—
Intercompany	1,088,949		—		2,747		(1,091,696		)	—
Other assets	19,602		7,147		380		—			27,129
Total assets	$	1,788,204	$	1,411,957	$	4,767	$	(1,218,139	)	$	1,986,789
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	83,800	$	—	$	—		$	83,800
Other liabilities	52,009		92,384		1,230		—			145,623
Intercompany	2,747		1,091,792		—		(1,094,539		)	—
Obligations related to land not owned under option agreements	—		4,633		—		—			4,633
Total debt (net of discounts of $5,160)	1,492,898		19,285		—		—			1,512,183
Total liabilities	1,547,654		1,291,894		1,230		$	(1,094,539	)	1,746,239
Stockholders’ equity	240,550		120,063		3,537		(123,600		)	240,550
Total liabilities and stockholders’ equity	$	1,788,204	$	1,411,957	$	4,767	$	(1,218,139	)	$	1,986,789

Unaudited Consolidating Income Statement



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2013
Total revenue	$	—		$	293,170		$	80		$	(80	)	$	293,170
Home construction and land sales expenses	7,135			231,414			—			(80		)	238,469
Inventory impairments and option contract abandonments	—			31			—			—			31
Gross (loss) profit	(7,135		)	61,725			80			—			54,670
Commissions	—			11,821			—			—			11,821
General and administrative expenses	—			28,383			27			—			28,410
Depreciation and amortization	—			2,907			—			—			2,907
Operating (loss) income	(7,135		)	18,614			53			—			11,532
Equity in income of unconsolidated entities	—			319			—			—			319
Other (expense) income, net	(16,032		)	278			(3		)	—			(15,757		)
(Loss) income before income taxes	(23,167		)	19,211			50			—			(3,906		)
Provision for (benefit from) income taxes	141			(117		)	18			—			42
Equity in income of subsidiaries	19,360			—			—			(19,360		)	—
(Loss) income from continuing operations	(3,948		)	19,328			32			(19,360		)	(3,948		)
Loss from discontinued operations	—			(1,187		)	(3		)	—			(1,190		)
Equity in loss of subsidiaries	(1,190		)	—			—			1,190			—
Net (loss) income	$	(5,138	)	$	18,141		$	29		$	(18,170	)	$	(5,138	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2012
Total revenue	$	—		$	246,902		$	217		$	(217	)	$	246,902
Home construction and land sales expenses	8,475			202,356			—			(217		)	210,614
Inventory impairments and option contract abandonments	—			204			—			—			204
Gross (loss) profit	(8,475		)	44,342			217			—			36,084
Commissions	—			10,642			—			—			10,642
General and administrative expenses	—			26,301			27			—			26,328
Depreciation and amortization	—			2,715			—			—			2,715
Operating (loss) income	(8,475		)	4,684			190			—			(3,601		)
Equity in income of unconsolidated entities	—			36			—			—			36
Other (expense) income, net	(16,211		)	580			4			—			(15,627		)
(Loss) income before income taxes	(24,686		)	5,300			194			—			(19,192		)
(Benefit from) provision for income taxes	(437		)	94			90			—			(253		)
Equity in income of subsidiaries	5,310			—			—			(5,310		)	—
(Loss) income from continuing operations	(18,939		)	5,206			104			(5,310		)	(18,939		)
Loss (income) from discontinued operations	—			(1,491		)	42			—			(1,449		)
Equity in loss of subsidiaries	(1,449		)	—			—			1,449			—
Net (loss) income	$	(20,388	)	$	3,715		$	146		$	(3,861	)	$	(20,388	)

Beazer Homes USA, Inc.

Unaudited Consolidating Statement of Operations Information

(In thousands)



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2013
Total revenue	$	—		$	293,170		$	80		$	(80	)	$	293,170
Home construction and land sales expenses	7,135			231,414			—			(80		)	238,469
Inventory impairments and option contract abandonments	—			31			—			—			31
Gross (loss) profit	(7,135		)	61,725			80			—			54,670
Commissions	—			11,821			—			—			11,821
General and administrative expenses	—			28,383			27			—			28,410
Depreciation and amortization	—			2,907			—			—			2,907
Operating (loss) income	(7,135		)	18,614			53			—			11,532
Equity in income of unconsolidated entities	—			319			—			—			319
Other (expense) income, net	(16,032		)	278			(3		)	—			(15,757		)
(Loss) income before income taxes	(23,167		)	19,211			50			—			(3,906		)
Provision for (benefit from) income taxes	141			(117		)	18			—			42
Equity in income of subsidiaries	19,360			—			—			(19,360		)	—
(Loss) income from continuing operations	(3,948		)	19,328			32			(19,360		)	(3,948		)
Loss from discontinued operations	—			(1,187		)	(3		)	—			(1,190		)
Equity in loss of subsidiaries	(1,190		)	—			—			1,190			—
Net (loss) income	$	(5,138	)	$	18,141		$	29		$	(18,170	)	$	(5,138	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2012
Total revenue	$	—		$	246,902		$	217		$	(217	)	$	246,902
Home construction and land sales expenses	8,475			202,356			—			(217		)	210,614
Inventory impairments and option contract abandonments	—			204			—			—			204
Gross (loss) profit	(8,475		)	44,342			217			—			36,084
Commissions	—			10,642			—			—			10,642
General and administrative expenses	—			26,301			27			—			26,328
Depreciation and amortization	—			2,715			—			—			2,715
Operating (loss) income	(8,475		)	4,684			190			—			(3,601		)
Equity in income of unconsolidated entities	—			36			—			—			36
Other (expense) income, net	(16,211		)	580			4			—			(15,627		)
(Loss) income before income taxes	(24,686		)	5,300			194			—			(19,192		)
(Benefit from) provision for income taxes	(437		)	94			90			—			(253		)
Equity in income of subsidiaries	5,310			—			—			(5,310		)	—
(Loss) income from continuing operations	(18,939		)	5,206			104			(5,310		)	(18,939		)
Loss (income) from discontinued operations	—			(1,491		)	42			—			(1,449		)
Equity in loss of subsidiaries	(1,449		)	—			—			1,449			—
Net (loss) income	$	(20,388	)	$	3,715		$	146		$	(3,861	)	$	(20,388	)

Unaudited Consolidating Statements of Cash Flow



	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2013
Net cash used in operating activities	$	(37,161	)	$	(76,683	)	$	(34	)	$	—		$	(113,878	)
Cash flows from investing activities:
Capital expenditures	—			(3,200		)	—			—			(3,200		)
Investments in unconsolidated entities	—			(2,164		)	—			—			(2,164		)
Increases in restricted cash	(433		)	(295		)	—			—			(728		)
Decreases in restricted cash	39			512			—			—			551
Net cash used in investing activities	(394		)	(5,147		)	—			—			(5,541		)
Cash flows from financing activities:
Repayment of debt	(1,913		)	(122		)	—			—			(2,035		)
Debt issuance costs	(32		)	—			—			—			(32		)
Advances to/from subsidiaries	(70,833		)	75,697			(69		)	(4,795		)	—
Payments for other financing activities	(413		)	—			—			—			(413		)
Net cash (used in) provided by financing activities	(73,191		)	75,575			(69		)	(4,795		)	(2,480		)
Decrease in cash and cash equivalents	(110,746		)	(6,255		)	(103		)	(4,795		)	(121,899		)
Cash and cash equivalents at beginning of period	499,341			6,324			1,637			(2,843		)	504,459
Cash and cash equivalents at end of period	$	388,595		$	69		$	1,534		$	(7,638	)	$	382,560
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended December 31, 2012
Net cash provided by (used in) operating activities	$	315		$	(87,817	)	$	49		$	—		$	(87,453	)
Cash flows from investing activities:
Capital expenditures	—			(1,772		)	—			—			(1,772		)
Investments in unconsolidated entities	—			(115		)	—			—			(115		)
Increases in restricted cash	(132		)	(146		)	—			—			(278		)
Decreases in restricted cash	1,958			125			—			—			2,083
Net cash provided by (used in) investing activities	1,826			(1,908		)	—			—			(82		)
Cash flows from financing activities:
Repayment of debt	(1,861		)	(41		)	—			—			(1,902		)
Settlement of unconsolidated entity debt obligations	—			(500		)	—			—			(500		)
Debt issuance costs	(1,136		)	—			—			—			(1,136		)
Advances to/from subsidiaries	(81,834		)	82,982			(96		)	(1,052		)	—
Payments for other financing activities	(26		)	—			—			—			(26		)
Net cash (used in) provided by financing activities	(84,857		)	82,441			(96		)	(1,052		)	(3,564		)
Decrease in cash and cash equivalents	(82,716		)	(7,284		)	(47		)	(1,052		)	(91,099		)
Cash and cash equivalents at beginning of period	481,394			8,215			646			(2,460		)	487,795
Cash and cash equivalents at end of period	$	398,678		$	931		$	599		$	(3,512	)	$	396,696

Discontinued Operations (Tables)

3 Months Ended

Dec. 31, 2013

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Results of Discontinued Operations

The results of our discontinued operations in the unaudited condensed consolidated statements of operations for the three months ended December 31, 2013 and 2012 were as follows:



	Three Months Ended
	December 31,
(In thousands)	2013			2012
Total revenue	$	464		$	96
Home construction and land sales expenses	1,455			94
Inventory impairments and lot option abandonments	—			17
Gross loss	(991		)	(15		)
General and administrative expenses	189			1,525
Operating loss	(1,180		)	(1,540		)
Other income, net	—			69
Loss from discontinued operations before income taxes	(1,180		)	(1,471		)
Provision for (benefit from) income taxes	10			(22		)
Loss from discontinued operations, net of tax	$	(1,190	)	$	(1,449	)

- Definition

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 - Schedule of Other Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012
Other Liabilities [Abstract]
Income tax liabilities	$ 20,367	$ 20,170
Accrued warranty expenses	11,911	11,663	14,342	15,477
Accrued interest	20,060	33,372
Accrued and deferred compensation	11,354	25,579
Customer deposits	10,660	11,408
Other	42,966	43,431
Total	$ 117,318	$ 145,623

- Definition

Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all domestic and foreign income tax obligations due. This amount is the total of current and noncurrent accrued income taxes.

+ References+ Details

Supplemental Cash Flow Information - Supplemental Disclosure of Non-cash Activity (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Non-cash Land Acquisitions	$ 5,400	$ 0
Decrease in obligations related to land not owned under option agreements	(1,486)	(1,162)
Supplemental disclosure of cash activity: [Abstract]
Interest payments	43,778	39,024
Income tax payments	1	15
Tax refunds received	$ 0	$ 3,925

Investments in Unconsolidated Entities - Investments in Unconsolidated Entities (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013
Equity Method Investments and Joint Ventures [Abstract]
Beazer's investment in unconsolidated entities	$ 47,424	$ 44,997
Total equity of unconsolidated entity	387,913	385,040
Total outstanding borrowings of unconsolidated entities	$ 96,549	$ 85,938

Investments in Unconsolidated Entities - Income (Loss), Impairments From, and Equity In Investments In Unconsolidated Entities (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Income from unconsolidated entity activity	$ 319	$ 36
Impairment of unconsolidated entity investment	0	0
Equity in income of unconsolidated entities - continuing operations	$ 319	$ 36

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References+ Details

Investments in Unconsolidated Entities Narrative (Details) (USD $)	3 Months Ended		12 Months Ended		3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2011 South Edge	Dec. 31, 2013 Inspirada	May 03, 2012 Inspirada	Dec. 31, 2013 the REIT	May 03, 2012 the REIT home
Schedule of Equity Method Investments [Line Items]
Beazer homes' ownership interest in guarantor subsidiaries (less than 10% in Inspirada Builders LLC)	100.00%					10.00%	15.00%	23.50%
Settlement of unconsolidated entity debt obligation	$ 0	$ 500,000		$ 15,900,000
Decrease in future land purchase rights					11,700,000
Joint Venture Obligation	6,700,000
Equity Method Investments								300,000
Number of pre-owned homes owned								190
Number of Pre-owned homes owned and leased								187
Payment to settle repayment guarantee obligation			500,000
Other income recorded on settlement of guarantee obligation			$ 200,000

Inventory - Schedule of Inventory (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012
Real Estate [Abstract]
Homes under construction	$ 260,359	$ 262,476
Development projects in progress	611,736	578,453
Land held for future development	338,512	341,986
Land held for sale	59,924	31,331
Capitalized interest	61,836	52,562	41,922	38,190
Model homes	42,620	37,886
Total owned inventory	$ 1,374,987	$ 1,304,694

Inventory - Total Owned Inventory by Segment (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013
Segment Reporting Information [Line Items]
Projects in progress	$ 976,551	$ 931,377
Land held for future development	338,512	341,986
Land held for sale	59,924	31,331
Total owned inventory	1,374,987	1,304,694
West Segment
Segment Reporting Information [Line Items]
Projects in progress	351,217	339,319
Land held for future development	292,835	292,875
Land held for sale	19,791	16,572
Total owned inventory	663,843	648,766
East Segment
Segment Reporting Information [Line Items]
Projects in progress	320,416	331,894
Land held for future development	25,491	25,491
Land held for sale	29,337	3,833
Total owned inventory	375,244	361,218
Southeast Segment
Segment Reporting Information [Line Items]
Projects in progress	212,435	178,624
Land held for future development	20,186	23,620
Land held for sale	8,501	8,208
Total owned inventory	241,122	210,452
Unallocated & Other
Segment Reporting Information [Line Items]
Projects in progress	92,483	81,540
Land held for future development	0	0
Land held for sale	2,295	2,718
Total owned inventory	$ 94,778	$ 84,258

Inventory - Recoverability Schedule of Inventory assets Held for Development, by Reportable Segment (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Dec. 31, 2013 Community	Dec. 31, 2012 Community
Real Estate Properties [Line Items]
Number of Communities on Watch List	1	4
Undiscounted Cash Flow Analysis - Number of Communities	0	4
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)	$ 0	$ 15,597
Undiscounted Cash Flow Analysis - Aggregate Undiscounted Cash Flow as a % of BV		114.00%
West Segment
Real Estate Properties [Line Items]
Number of Communities on Watch List	1	0
Undiscounted Cash Flow Analysis - Number of Communities	0	0
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)	0	0
East Segment
Real Estate Properties [Line Items]
Number of Communities on Watch List	0	3
Undiscounted Cash Flow Analysis - Number of Communities	0	3
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)	0	9,588
Undiscounted Cash Flow Analysis - Aggregate Undiscounted Cash Flow as a % of BV		107.00%
Southeast Segment
Real Estate Properties [Line Items]
Number of Communities on Watch List	0	1
Undiscounted Cash Flow Analysis - Number of Communities	0	1
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)	0	5,257
Undiscounted Cash Flow Analysis - Aggregate Undiscounted Cash Flow as a % of BV		128.60%
Unallocated & Other
Real Estate Properties [Line Items]
Number of Communities on Watch List	0	0
Undiscounted Cash Flow Analysis - Number of Communities	0	0
Undiscounted Cash Flow Analysis - Pre-analysis Book Value (BV)	$ 0	$ 752

Inventory - Results of Discounted Cash Flow Analysis (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Impairment Charges	$ 0	$ 59
Continuing Operations \| Unallocated
Real Estate, Write-down or Reserve [Line Items]
Impairment Charges	0	0
Continuing Operations \| West Segment
Real Estate, Write-down or Reserve [Line Items]
Impairment Charges	0	46
Continuing Operations \| East Segment
Real Estate, Write-down or Reserve [Line Items]
Impairment Charges	0	13
Continuing Operations \| Southeast Segment
Real Estate, Write-down or Reserve [Line Items]
Impairment Charges	0	0
Discontinued Operations
Real Estate, Write-down or Reserve [Line Items]
Impairment Charges	$ 0	$ 0

Inventory - Inventory Impairments and Lot Option Abandonment Charges, by Reportable Segment (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Real Estate, Write-down or Reserve [Line Items]
Inventory impairments and option contract abandonments	$ 31,000	$ 204,000
Inventory impairments and option contract abandonments	31,000	221,000
Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	0	59,000
Land Held for Sale	31,000	0
Lot option abandonments	0	145,000
Inventory impairments and option contract abandonments	31,000	204,000
Continuing Operations \| Unallocated
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	0	0
Lot option abandonments	0	0
Continuing Operations \| West Segment
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	0	46,000
Land Held for Sale	0	0
Lot option abandonments	0	74,000
Continuing Operations \| East Segment
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	0	13,000
Land Held for Sale	31,000	0
Lot option abandonments	0	22,000
Continuing Operations \| Southeast Segment
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	0	0
Land Held for Sale	0	0
Lot option abandonments	0	49,000
Discontinued Operations
Real Estate, Write-down or Reserve [Line Items]
Development projects and homes in process (Held for Development)	0	0
Land Held for Sale	0	17,000
Lot option abandonments	0	0
Inventory impairments and option contract abandonments	$ 0	$ 17,000

Inventory - Summary of Interests in Lot Option Agreements (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013
Real Estate Properties [Line Items]
Deposits and non-refundable preacquisition costs incurred	$ 44,301	$ 37,313
Remaining obligations	362,044	288,638
Land not owned under option agreements	7,751	9,124
Consolidated VIEs
Real Estate Properties [Line Items]
Deposits and non-refundable preacquisition costs incurred	4,604	4,491
Remaining obligations	3,147	4,633
Land not owned under option agreements	7,751	9,124
Unconsolidated lot option agreements
Real Estate Properties [Line Items]
Deposits and non-refundable preacquisition costs incurred	39,697	32,822
Remaining obligations	358,897	284,005
Land not owned under option agreements	$ 0	$ 0

Inventory - Narrative (Details) (USD $)			3 Months Ended
Inventory - Narrative (Details) (USD $)	Dec. 31, 2013 home	Sep. 30, 2013 home	Dec. 31, 2012 Minimum [Member]	Dec. 31, 2012 Maximum
Real Estate Properties [Line Items]
Number of substantially completed homes	133	113
Total value of substantially completed homes	$ 33,400,000	$ 30,700,000
Discount rate			10.90%	13.00%
Deposits and non-refundable preacquisition costs incurred	44,301,000	37,313,000
Total remaining purchase price committed under all options	$ 362,044,000	$ 288,638,000

Interest - Schedule of Capitalized Interest (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in inventory, beginning of period	$ 52,562	$ 38,190
Interest incurred	32,441	28,418
Interest expense not qualified for capitalization and included as other expense	16,032	16,211
Capitalized interest amortized to house construction and land sales expenses	(7,135)	(8,475)
Capitalized interest in inventory, end of period	$ 61,836	$ 41,922

Earnings Per Share - Narrative (Details) (USD $)	3 Months Ended		3 Months Ended			3 Months Ended		3 Months Ended
Earnings Per Share - Narrative (Details) (USD $)	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2013 Common Stock	Dec. 31, 2013 Nonvested Stock Awards [Member]	Dec. 31, 2013 TEU Senior Amortizing Notes Maturing August 2013 [Member]	Dec. 31, 2013 Tangible Equity Units	Jul. 17, 2012 Tangible Equity Units Senior Notes TEUs	Dec. 31, 2013 Debt Instrument, Convertible, Stock Price Trigger, Range One [Member] TEU Senior Amortizing Notes	Dec. 31, 2013 Debt Instrument, Convertible, Stock Price Trigger, Range Two [Member] TEU Senior Amortizing Notes
Earnings Per Share [Line Items]
Debt Conversion, Converted Instrument, Shares Issued			700,000
Tangible Equity Units (TEUs) issued during period, (units)							4,600,000
Tangible Equity Units outstanding					14,200,000	4,600,000
Earnings Per Share [Text Block]	Earnings Per Share In computing diluted loss per share for the three months ended December 31, 2013 and 2012, all common stock equivalents were excluded from the computation of diluted loss per share as a result of their anti-dilutive effect. For the quarter ended December 31, 2013, these excluded common stock equivalents included options/stock-settled appreciation rights (SSARs) to purchase 0.7 million shares of common stock, 0.3 million shares of nonvested restricted stock and 6.5 million shares issuable upon the conversion of our Tangible Equity Unit (TEU) prepaid stock purchase contracts (PSPs). As of December 31, 2013, there were 4.6 million TEUs outstanding (including $14.2 million of amortizing notes). The PSPs related to the TEUs are scheduled to be settled in Beazer Homes' common stock on July 15, 2015. If on that date, our common stock price is (1) at or below $14.50 per share, the PSPs will convert to 1.72414 shares per unit, (2) at or above $17.75 per share, the PSPs will convert to 1.40746 shares per unit or (3) between $14.50 and $17.75 per share, the PSPs will convert to a number of shares of our common stock equal to $25.00 divided by the applicable market value of our common stock. If the remaining TEU PSPs were converted at the settlement factor under their agreement based on our current stock price, we would be required to issue approximately 6.5 million shares of common stock to the instrument holders upon conversion.
Shares of common stock issuable upon conversion						6,500,000
Stock Issued During Period, Shares, Conversion of Convertible Securities				300,000		6,500,000
Common Stock, Shares Authorized	63,000,000	63,000,000
Debt Instrument, Convertible, Stock Price Trigger								$ 14.50	$ 17.75
Debt Instrument, Convertible, Conversion Ratio								1.72414	1.40746

Borrowings - Schedule of Long-term Debt (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2013 Senior Notes	Sep. 30, 2013 Senior Notes	Jul. 17, 2012 Senior Notes Tangible Equity Units	Dec. 31, 2013 Senior Notes 6 7/8% Senior Notes Maturing July 2015	Dec. 31, 2013 Senior Notes 8 1/8% Senior Notes Maturing June 2016	Sep. 30, 2013 Senior Notes 8 1/8% Senior Notes Maturing June 2016	Dec. 31, 2013 Senior Notes 6 5/8% Senior Secured Notes	Sep. 30, 2013 Senior Notes 6 5/8% Senior Secured Notes	Dec. 31, 2013 Senior Notes 9 1/8% Senior Notes Maturing June 2018	Sep. 30, 2013 Senior Notes 9 1/8% Senior Notes Maturing June 2018	Dec. 31, 2013 Senior Notes 9 1/8% Senior Notes Maturing May 2019	Sep. 30, 2013 Senior Notes 9 1/8% Senior Notes Maturing May 2019	Dec. 31, 2013 Senior Notes 7 1/2% Senior Notes Maturing September 2021 [Member]	Sep. 30, 2013 Senior Notes 7 1/2% Senior Notes Maturing September 2021 [Member]	Dec. 31, 2013 Senior Notes TEU Senior Amortizing Notes	Sep. 30, 2013 Senior Notes TEU Senior Amortizing Notes	Dec. 31, 2013 Senior Notes 7 1/4% Senior Notes Maturing February 2023 [Member]	Sep. 30, 2013 Senior Notes 7 1/4% Senior Notes Maturing February 2023 [Member]	Feb. 01, 2013 Senior Notes 7 1/4% Senior Notes Maturing February 2023 [Member]	Dec. 31, 2013 Junior Subordinated Notes	Sep. 30, 2013 Junior Subordinated Notes	Dec. 31, 2013 Cash Secured Loan	Sep. 30, 2013 Cash Secured Loan	Dec. 31, 2013 Other Secured Notes Payable	Sep. 30, 2013 Other Secured Notes Payable
Debt Instrument [Line Items]
Debt instrument stated interest rate (percent)					7.50%	6.875%	8.125%	8.125%	6.625%	6.625%	9.125%	9.125%	9.125%	9.125%	7.50%	7.50%			7.25%	7.25%	7.25%	7.987%
Senior notes							$ 172,879	$ 172,879	$ 300,000	$ 300,000	$ 298,000	$ 298,000	$ 235,000	$ 235,000	$ 200,000	$ 200,000	$ 14,227	$ 16,141	$ 200,000	$ 200,000
Unamortized debt discounts	(4,970)	(5,160)	(4,970)	(5,160)																		(46,600)
Long-term debt	$ 1,516,255	$ 1,512,183	$ 1,415,136	$ 1,416,860																		$ 54,187	$ 53,670	$ 22,368	$ 22,368	$ 24,564	$ 19,285

- Definition

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 - Narrative (Details) (USD $) Share data in Millions, unless otherwise specified			3 Months Ended																						3 Months Ended	12 Months Ended								3 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Mar. 31, 2013 Senior Notes	Dec. 31, 2013 Senior Notes	Sep. 30, 2013 Senior Notes	Dec. 31, 2013 Senior Notes 7 1/2% Senior Notes Maturing September 2021 [Member]	Sep. 30, 2013 Senior Notes 7 1/2% Senior Notes Maturing September 2021 [Member]	Dec. 31, 2013 Senior Notes 7 1/4% Senior Notes Maturing February 2023 [Member]	Sep. 30, 2013 Senior Notes 7 1/4% Senior Notes Maturing February 2023 [Member]	Feb. 01, 2013 Senior Notes 7 1/4% Senior Notes Maturing February 2023 [Member]	Dec. 31, 2013 Senior Notes 6.625% Senior Secured Notes	Sep. 30, 2013 Senior Notes 6.625% Senior Secured Notes	Dec. 31, 2013 Senior Notes 9 1/8% Senior Notes Maturing May 2019	Sep. 30, 2013 Senior Notes 9 1/8% Senior Notes Maturing May 2019	Dec. 31, 2013 Senior Notes 6 7/8% Senior Notes Maturing July 2015	Dec. 31, 2013 Senior Notes 9 1/8% Senior Notes Maturing June 2018	Sep. 30, 2013 Senior Notes 9 1/8% Senior Notes Maturing June 2018	Dec. 31, 2013 Senior Notes 8 1/8% Senior Notes Maturing June 2016	Sep. 30, 2013 Senior Notes 8 1/8% Senior Notes Maturing June 2016	Jul. 17, 2012 Senior Notes Tangible Equity Units TEUs	Dec. 31, 2013 Junior Subordinated Notes	Sep. 30, 2013 Junior Subordinated Notes	Jan. 15, 2010 Junior Subordinated Notes	Jun. 15, 2006 Junior Subordinated Notes	Dec. 31, 2013 Cash Secured Loan	Sep. 30, 2013 Cash Secured Loan	Dec. 31, 2013 Other Secured Notes Payable	Sep. 30, 2013 Other Secured Notes Payable	Dec. 31, 2013 Secured Revolving Credit Facility	Sep. 30, 2013 Secured Revolving Credit Facility	Dec. 31, 2012 Secured Revolving Credit Facility	Dec. 31, 2013 Letter of Credit	Sep. 30, 2013 Letter of Credit	Dec. 31, 2013 Common Stock	Dec. 31, 2013 Optional Redemption Under Indenture [Member] Senior Notes 6 7/8% Senior Notes Maturing July 2015
Line of Credit Facility [Abstract]
Credit facility borrowing capacity																														$ 150,000,000	$ 22,000,000	$ 220,000,000
Amount of available borrowings under the Secured Revolving Credit Facility																													150,000,000
Inventory assets pledged as collateral																													1,000,000,000
Outstanding borrowings under the Secured Revolving Credit Facility																													0	0
Letters of credit secured using cash collateral																																24,700,000	25,200,000
Senior Notes [Abstract]
Beazer homes' ownership interest in guarantor subsidiaries (less than 10% in Inspirada Builders LLC)	100.00%
Minimum consolidated tangible net worth	85,000,000
Amount of original debt that could be repurchased				27,500,000
Consolidated tangible net worth	210,100,000									200,000,000
Aggregate principal amount of debt							200,000,000																75,000,000	103,100,000
Debt instrument stated interest rate (percent)						7.50%	7.50%	7.25%	7.25%	7.25%	6.625%	6.625%	9.125%	9.125%	6.875%	9.125%	9.125%	8.125%	8.125%	7.50%	7.987%
Loss on extinguishment of debt			(3,600,000)																							1,000,000
Outstanding debt instrument principal amount redeemed																	2,000,000									205,000,000
Debt Issuance Discount							98.541%
Tangible Capital [Abstract]
Tangible Equity Units (TEUs) issued during period, (units)																				4,600,000
Convertible Subordinated Debt [Abstract]
Number of common stock exchanged for debt (shares)																																		0.7
Junior Subordinated Notes [Abstract]
Effective period of debt instrument interest rate																					10 years
Debt instrument redemption price (percent)																																			101.146%
Unamortized accretion	4,970,000	5,160,000		4,970,000	5,160,000																46,600,000
Secured Debt [Abstract]
Three-month LIBOR																									LIBOR
Long-term debt	$ 1,516,255,000	$ 1,512,183,000		$ 1,415,136,000	$ 1,416,860,000																$ 54,187,000	$ 53,670,000			$ 22,368,000	$ 22,368,000	$ 24,564,000	$ 19,285,000
Weighted average fixed interest rate of debt (percent)																											4.02%
Debt Instrument, Basis Spread on Variable Rate																									0.40%

Income Taxes - Narrative (Details) (USD $)	3 Months Ended
Income Taxes - Narrative (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2013
Income Tax Disclosure [Line Items]
(Benefit from) provision for income taxes	$ 42,000	$ (253,000)
Accrued interest and penalties	2,700,000		2,600,000
Limit on operating loss carryforwards and recognition	11,400,000
Limit on operating loss carryforwards and recognition, tax-effected	4,000,000
Valuation allowance	(489,030,000)		(487,300,000)
Deferred Tax Assets, Gross	548,620,000
Deferred Tax Liabilities, Net	(54,257,000)
Deferred Tax Assets, Net of Valuation Allowance	494,363,000
Deferred Tax Assets, Net	5,333,000
Maximum
Income Tax Disclosure [Line Items]
Limit on operating loss carryforwards and recognition	405,900,000
Limit on operating loss carryforwards and recognition, tax-effected	443,400,000
Certain Components Likely To Be Subject To Annual Limitation [Member]
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Gross	88,437,000
Certain Components Likely To Be Subject To Annual Limitation [Member] \| Maximum
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Net	88,400,000
Certain Components Likely To Be Subject To Annual Limitation [Member] \| Minimum [Member]
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Net	50,900,000
Subject To Annual Limitation [Member]
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Gross	98,232,000
Generally Not Subject to Annual Limitation [Member]
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Gross	$ 361,951,000

Contingencies - Warranty (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 11,663	$ 15,477
Accruals for warranties issued	1,123	1,428
Changes in liability related to warranties existing in prior periods	1,743	(1,302)
Payments made	(2,618)	(1,261)
Balance at end of period	$ 11,911	$ 14,342

Contingencies - Litigation and Other Matters (Details) (USD $)	3 Months Ended					3 Months Ended	12 Months Ended		3 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2013 Performance Bonds	Dec. 31, 2013 Letter of Credit	Sep. 30, 2013 Letter of Credit	Dec. 31, 2013 First Order New Jersey Department of Environmental Protection - Violation of Permit	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	Dec. 31, 2013 Pending Litigation loan
Loss Contingencies [Line Items]
Minimum standard product warranty period	1 year
Maximum standard product warranty period	2 years
Company's liability under Deferred Prosecution Agreement (percent)	4.00%
Maximum liability under the DPA and other settlement agreements	$ 55,000,000
Portion of liability under DPA that has been paid as of balance sheet date	16,600,000					125,000
Loss Contingency, Accrual, Current	4,500,000
Amount demanded per the complaint to recover purported losses						250,000	630,000	678,000
Accrued amounts for litigation and other contingent liabilities	21,400,000	19,900,000
Letters of credit secured using cash collateral				24,700,000	25,200,000
Cash collateral in restricted accounts securing letters of credit			$ 176,500,000
Number of affected homes that have not accepted Company's offer to repair

Fair Value Measurements - Fair Value Assets Measured on a Non-recurring Basis (Details) (Fair Value, Measurements, Nonrecurring, USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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]
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]
Land held for sale	3,536
Right to purchase land		0
Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale	3,536
Right to purchase land		$ 0

Fair Value Measurements - Carrying Values and Estimated Fair Values of Other Financial Assets and Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying values and estimated fair values of other financial assets and liabilities	$ 1,469,323	$ 1,470,530
Carrying Amount \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,415,136	1,416,860
Carrying Amount \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior Subordinated Notes	54,187	53,670
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying values and estimated fair values of other financial assets and liabilities	1,565,838	1,523,574
Fair Value \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,511,651	1,469,904
Fair Value \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Junior Subordinated Notes	$ 54,187	$ 53,670

Stock-based Compensation (Details) (USD $)	3 Months Ended						3 Months Ended
Stock-based Compensation (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013 Stock Options [Member]	Dec. 31, 2013 SSARs / Stock Options [Member]	Dec. 31, 2013 Nonvested Stock Awards [Member]	Sep. 30, 2013 Nonvested Stock Awards [Member]	Dec. 31, 2013 Performance Shares [Member]	Dec. 31, 2013 Nonvested Stock Awards and Performance Shares [Member]	Dec. 31, 2012 Nonvested Stock Awards and Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Surrendered During Period, Value	$ 413,000	$ 19,000
Total stock-based compensation included in general and administrative expenses	600,000
Total stock-based compensation included in general and administrative expenses, net of tax	500,000
Number of shares surrendered by emloyees (shares)	21,693	1,306
Intrinsic value of SSAR/stock options outstanding				4,500,000
Aggregate intrinsic value of SSARs/stock options vested and expected to vest				4,500,000
SSARs/stock options weighted average expected life				2 years 10 months 24 days
Unrecognized compensation costs related to non-vested stock awards					2,700,000	1,000,000
Number of shares of performance-based restricted stock issued (shares)							28,690
Weighted average period to recognize remaining cost					1 year 9 months 18 days
Increase in target number of Performance Shares (percent)							50.00%
Non-vested stock performance period (years)							3 years
Expected dividend yield on performance shares (percent)							0.00%
Expected volatility rate range minimum (percent)							35.00%
Expected volatility rate range maximum (percent)							59.10%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions [Abstract]
Expected life of options			5 years 26 days
Expected volatility			45.99%
Expected discrete dividends			0
Weighted average risk-free interest rate			1.42%				0.66%
Weighted average fair value			$ 7.97
Share-based Compensation Arrangement by Share-based Payment Award, Outstanding [Roll Forward]
Shares outstanding at beginning of period (shares)				560,784
Granted (shares)				$ 2,000,000
Exercised (shares)				(106)
Forfeited (shares)				(561)
Shares outstanding at end of period (shares)				721,127
Exercisable at end of period				416,917
Vested or expected to vest in the future (shares)				715,768
Share-based Compensation Arrangement by Share-based Payment Award, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price of shares outstanding at beginning of period				$ 33.01
Weighted average exercise price of shares granted				$ 19.11
Weighted average exercise price of shares exercised				$ 10.80
Weighted average exercise price of shares forfeited				$ 15.23
Weighted average exercise price of shares outstanding at beginning of period				$ 29.92
Weighted average exercise price of shares exercisable at end of period				$ 39.93
Weighted average exercise price of shares vested or expected to vest in the future				$ 30.02
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares outstanding at beginning of period (shares)									280,416
Granted (shares)				161,010				135,567
Shares vested (shares)								(102,038)
Shares forfeited (shares)								(1,090)
Shares outstanding at end of period (shares)								312,855	280,416
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value of shares outstanding at beginning of period									$ 12.32
Weighted average grant date fair value of shares granted							$ 15.90	$ 17.53
Weighted average grant date fair value of shares vested in period								$ 16.64
Weighted average grant date fair value of shares forfeited in period								$ 10.77
Weighted average grant date fair value of shares outstanding at end of period								$ 13.18	$ 12.32

Segment Information (Details) (USD $)
In Thousands, unless otherwise specified

3 Months Ended

Dec. 31, 2013

segment

state

Dec. 31, 2012

Sep. 30, 2013

Segment Reporting Information [Line Items]

Number of homebuilding segments

Number of states in which home building segments operate

Revenue

$ 293,170

$ 246,902

Total operating income (loss)

11,532

(3,601)

Equity in income of unconsolidated entities

319

Other expense, net

(15,757)

(15,627)

Loss from continuing operations before income taxes

(3,906)

(19,192)

Depreciation and amortization

2,907

2,715

Capital Expenditures

3,200

1,772

Assets

1,932,833

1,986,789

Operating Segments

Segment Reporting Information [Line Items]

Total operating income (loss)

29,625

16,876

Depreciation and amortization

2,465

2,023

West Segment

Segment Reporting Information [Line Items]

Revenue

122,576

110,126

Total operating income (loss)

15,762

8,358

Depreciation and amortization

1,382

1,022

Capital Expenditures

1,102

815

Assets

691,337

680,346

East Segment

Segment Reporting Information [Line Items]

Revenue

107,589

96,539

Total operating income (loss)

8,235

6,188

Depreciation and amortization

692

683

Capital Expenditures

1,367

231

Assets

384,620

369,937

Southeast Segment

Segment Reporting Information [Line Items]

Revenue

63,005

40,237

Total operating income (loss)

5,628

2,330

Depreciation and amortization

391

318

Capital Expenditures

446

Assets

256,317

228,814

Corporate and unallocated

Segment Reporting Information [Line Items]

Total operating income (loss)

(18,093)

^[1]

(20,477)

^[1]

Depreciation and amortization

442

^[1]

692

^[1]

Capital Expenditures

285

702

Assets

$ 600,559

^[2]

$ 707,692

^[2]

[1]	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.
[2]	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 - Unaudited Consolidating Balance Sheet Information (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012
ASSETS
Cash and cash equivalents	$ 382,560	$ 504,459	$ 396,696	$ 487,795
Restricted cash	49,155	48,978
Accounts receivable (net of allowance)	21,074	22,342
Income tax receivable	2,813	2,813
Owned inventory	1,374,987	1,304,694
Consolidated inventory not owned	7,751	9,124
Investments in unconsolidated entities	47,424	44,997
Deferred tax assets, net	5,333	5,253
Property, plant and equipment, net	17,437	17,000
Investments in subsidiaries	0	0
Intercompany	0	0
Other assets	24,299	27,129
Total assets	1,932,833	1,986,789
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	60,505	83,800
Other liabilities	117,318	145,623
Intercompany	0	0
Obligations related to land not owned under option agreements	3,147	4,633
Total debt (net of discounts of $4,970 and $5,160 respectively)	1,516,255	1,512,183
Total liabilities	1,697,225	1,746,239
Stockholders' equity	235,608	240,550
Total liabilities and stockholders' equity	1,932,833	1,986,789
Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	388,595	499,341	398,678	481,394
Restricted cash	48,268	47,873
Accounts receivable (net of allowance)	0	0
Income tax receivable	2,813	2,813
Owned inventory	0	0
Consolidated inventory not owned	0	0
Investments in unconsolidated entities	773	773
Deferred tax assets, net	5,333	5,253
Property, plant and equipment, net	0	0
Investments in subsidiaries	141,371	123,600
Intercompany	1,163,078	1,088,949
Other assets	18,367	19,602
Total assets	1,768,598	1,788,204
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	0	0
Other liabilities	38,882	52,009
Intercompany	2,417	2,747
Obligations related to land not owned under option agreements	0	0
Total debt (net of discounts of $4,970 and $5,160 respectively)	1,491,691	1,492,898
Total liabilities	1,532,990	1,547,654
Stockholders' equity	235,608	240,550
Total liabilities and stockholders' equity	1,768,598	1,788,204
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	69	6,324	931	8,215
Restricted cash	887	1,105
Accounts receivable (net of allowance)	21,072	22,339
Income tax receivable	0	0
Owned inventory	1,374,987	1,304,694
Consolidated inventory not owned	7,751	9,124
Investments in unconsolidated entities	46,651	44,224
Deferred tax assets, net	0	0
Property, plant and equipment, net	17,437	17,000
Investments in subsidiaries	0	0
Intercompany	0	0
Other assets	5,642	7,147
Total assets	1,474,496	1,411,957
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	60,505	83,800
Other liabilities	77,360	92,384
Intercompany	1,170,716	1,091,792
Obligations related to land not owned under option agreements	3,147	4,633
Total debt (net of discounts of $4,970 and $5,160 respectively)	24,564	19,285
Total liabilities	1,336,292	1,291,894
Stockholders' equity	138,204	120,063
Total liabilities and stockholders' equity	1,474,496	1,411,957
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	1,534	1,637	599	646
Restricted cash	0	0
Accounts receivable (net of allowance)	2	3
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
Investments in subsidiaries	0	0
Intercompany	2,417	2,747
Other assets	290	380
Total assets	4,243	4,767
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	0	0
Other liabilities	1,076	1,230
Intercompany	0	0
Obligations related to land not owned under option agreements	0	0
Total debt (net of discounts of $4,970 and $5,160 respectively)	0	0
Total liabilities	1,076	1,230
Stockholders' equity	3,167	3,537
Total liabilities and stockholders' equity	4,243	4,767
Consolidating Adjustments
ASSETS
Cash and cash equivalents	(7,638)	(2,843)	(3,512)	(2,460)
Restricted cash	0	0
Accounts receivable (net of allowance)	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
Investments in subsidiaries	(141,371)	(123,600)
Intercompany	(1,165,495)	(1,091,696)
Other assets	0	0
Total assets	(1,314,504)	(1,218,139)
LIABILITIES AND STOCKHOLDERS' EQUITY
Trade accounts payable	0	0
Other liabilities	0	0
Intercompany	(1,173,133)	(1,094,539)
Obligations related to land not owned under option agreements	0	0
Total debt (net of discounts of $4,970 and $5,160 respectively)	0	0
Total liabilities	(1,173,133)	(1,094,539)
Stockholders' equity	(141,371)	(123,600)
Total liabilities and stockholders' equity	$ (1,314,504)	$ (1,218,139)

Supplemental Guarantor Information - Unaudited Consolidating Statement of Operations (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Condensed Financial Statements, Captions [Line Items]
Total revenue	$ 293,170,000	$ 246,902,000
Home construction and land sales expenses	238,469,000	210,614,000
Inventory impairments and option contract abandonments	31,000	204,000
Gross profit	54,670,000	36,084,000
Commissions	11,821,000	10,642,000
General and administrative expenses	28,410,000	26,328,000
Depreciation and amortization	2,907,000	2,715,000
Operating income (loss)	11,532,000	(3,601,000)
Equity in income of unconsolidated entities	319,000	36,000
Other (expense) income, net	(15,757,000)	(15,627,000)
(Loss) income from continuing operations before income taxes	(3,906,000)	(19,192,000)
(Benefit from) provision for income taxes	42,000	(253,000)
Equity in (loss) income of subsidiaries	0	0
Loss from continuing operations	(3,948,000)	(18,939,000)
Loss from discontinued operations, net of tax	(1,190,000)	(1,449,000)
Equity in income (loss) of subsidiaries	0	0
Net loss	(5,138,000)	(20,388,000)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Total revenue	0	0
Home construction and land sales expenses	7,135,000	8,475,000
Inventory impairments and option contract abandonments	0	0
Gross profit	(7,135,000)	(8,475,000)
Commissions	0	0
General and administrative expenses	0	0
Depreciation and amortization	0	0
Operating income (loss)	(7,135,000)	(8,475,000)
Equity in income of unconsolidated entities	0	0
Other (expense) income, net	(16,032,000)	(16,211,000)
(Loss) income from continuing operations before income taxes	(23,167,000)	(24,686,000)
(Benefit from) provision for income taxes	141,000	(437,000)
Equity in (loss) income of subsidiaries	19,360,000	5,310,000
Loss from continuing operations	(3,948,000)	(18,939,000)
Loss from discontinued operations, net of tax	0	0
Equity in income (loss) of subsidiaries	(1,190,000)	(1,449,000)
Net loss	(5,138,000)	(20,388,000)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue	293,170,000	246,902,000
Home construction and land sales expenses	231,414,000	202,356,000
Inventory impairments and option contract abandonments	31,000	204,000
Gross profit	61,725,000	44,342,000
Commissions	11,821,000	10,642,000
General and administrative expenses	28,383,000	26,301,000
Depreciation and amortization	2,907,000	2,715,000
Operating income (loss)	18,614,000	4,684,000
Equity in income of unconsolidated entities	319,000	36,000
Other (expense) income, net	278,000	580,000
(Loss) income from continuing operations before income taxes	19,211,000	5,300,000
(Benefit from) provision for income taxes	(117,000)	94,000
Equity in (loss) income of subsidiaries	0	0
Loss from continuing operations	19,328,000	5,206,000
Loss from discontinued operations, net of tax	(1,187,000)	(1,491,000)
Equity in income (loss) of subsidiaries	0	0
Net loss	18,141,000	3,715,000
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue	80,000	217,000
Home construction and land sales expenses	0	0
Inventory impairments and option contract abandonments	0	0
Gross profit	80,000	217,000
Commissions	0	0
General and administrative expenses	27,000	27,000
Depreciation and amortization	0	0
Operating income (loss)	53,000	190,000
Equity in income of unconsolidated entities	0	0
Other (expense) income, net	(3,000)	4,000
(Loss) income from continuing operations before income taxes	50,000	194,000
(Benefit from) provision for income taxes	18,000	90,000
Equity in (loss) income of subsidiaries	0	0
Loss from continuing operations	32,000	104,000
Loss from discontinued operations, net of tax	(3,000)	42,000
Equity in income (loss) of subsidiaries	0	0
Net loss	29,000	146,000
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Total revenue	(80,000)	(217,000)
Home construction and land sales expenses	(80,000)	(217,000)
Inventory impairments and option contract abandonments	0	0
Gross profit	0	0
Commissions	0	0
General and administrative expenses	0	0
Depreciation and amortization	0	0
Operating income (loss)	0	0
Equity in income of unconsolidated entities	0	0
Other (expense) income, net	0	0
(Loss) income from continuing operations before income taxes	0	0
(Benefit from) provision for income taxes	0	0
Equity in (loss) income of subsidiaries	(19,360,000)	(5,310,000)
Loss from continuing operations	(19,360,000)	(5,310,000)
Loss from discontinued operations, net of tax	0	0
Equity in income (loss) of subsidiaries	1,190,000	1,449,000
Net loss	$ (18,170,000)	$ (3,861,000)

Supplemental Guarantor Information - Unaudited Consolidating Statements of Cash Flows (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Condensed Financial Statements, Captions [Line Items]
Deferred and other income tax benefit	$ (19)	$ (102)
Stock-based compensation expense	609	784
Inventory impairments and option contract abandonments	31	221
Net cash provided by (used in) operating activities	(113,878)	(87,453)
Cash flows from investing activities:
Capital expenditures	(3,200)	(1,772)
Investments in unconsolidated entities	(2,164)	(115)
Increases in restricted cash	(728)	(278)
Decreases in restricted cash	551	2,083
Net cash used in investing activities	(5,541)	(82)
Cash flows from financing activities:
Repayment of debt	(2,035)	(1,902)
Settlement of unconsolidated entity debt obligation	0	(500)
Debt issuance costs	(32)	(1,136)
Advances to/from subsidiaries	0	0
Payments for other financing activities	(413)	(26)
Net cash used in financing activities	(2,480)	(3,564)
Decrease in cash and cash equivalents	(121,899)	(91,099)
Cash and cash equivalents at beginning of period	504,459	487,795
Cash and cash equivalents at end of period	382,560	396,696
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(37,161)	315
Cash flows from investing activities:
Capital expenditures	0	0
Investments in unconsolidated entities	0	0
Increases in restricted cash	(433)	(132)
Decreases in restricted cash	39	1,958
Net cash used in investing activities	(394)	1,826
Cash flows from financing activities:
Repayment of debt	(1,913)	(1,861)
Settlement of unconsolidated entity debt obligation		0
Debt issuance costs	(32)	(1,136)
Advances to/from subsidiaries	(70,833)	(81,834)
Payments for other financing activities	(413)	(26)
Net cash used in financing activities	(73,191)	(84,857)
Decrease in cash and cash equivalents	(110,746)	(82,716)
Cash and cash equivalents at beginning of period	499,341	481,394
Cash and cash equivalents at end of period	388,595	398,678
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(76,683)	(87,817)
Cash flows from investing activities:
Capital expenditures	(3,200)	(1,772)
Investments in unconsolidated entities	(2,164)	(115)
Increases in restricted cash	(295)	(146)
Decreases in restricted cash	512	125
Net cash used in investing activities	(5,147)	(1,908)
Cash flows from financing activities:
Repayment of debt	(122)	(41)
Settlement of unconsolidated entity debt obligation		(500)
Debt issuance costs	0	0
Advances to/from subsidiaries	75,697	82,982
Payments for other financing activities	0	0
Net cash used in financing activities	75,575	82,441
Decrease in cash and cash equivalents	(6,255)	(7,284)
Cash and cash equivalents at beginning of period	6,324	8,215
Cash and cash equivalents at end of period	69	931
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(34)	49
Cash flows from investing activities:
Capital expenditures	0	0
Investments in unconsolidated entities	0	0
Increases in restricted cash	0	0
Decreases in restricted cash	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Repayment of debt	0	0
Settlement of unconsolidated entity debt obligation		0
Debt issuance costs	0	0
Advances to/from subsidiaries	(69)	(96)
Payments for other financing activities	0	0
Net cash used in financing activities	(69)	(96)
Decrease in cash and cash equivalents	(103)	(47)
Cash and cash equivalents at beginning of period	1,637	646
Cash and cash equivalents at end of period	1,534	599
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	0	0
Cash flows from investing activities:
Capital expenditures	0	0
Investments in unconsolidated entities	0	0
Increases in restricted cash	0	0
Decreases in restricted cash	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Repayment of debt	0	0
Settlement of unconsolidated entity debt obligation		0
Debt issuance costs	0	0
Advances to/from subsidiaries	(4,795)	(1,052)
Payments for other financing activities	0	0
Net cash used in financing activities	(4,795)	(1,052)
Decrease in cash and cash equivalents	(4,795)	(1,052)
Cash and cash equivalents at beginning of period	(2,843)	(2,460)
Cash and cash equivalents at end of period	$ (7,638)	$ (3,512)

Supplemental Guarantor Information - Unaudited Consolidating Balance Sheet Information Parentheticals (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Allowances for accounts receivable	$ 1,495	$ 1,651

Discontinued Operations - Results of Discontinued Operations (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Home construction and land sales expenses	$ 238,469,000	$ 210,614,000
Inventory impairments and option contract abandonments	31,000	204,000
Gross profit	54,670,000	36,084,000
Commissions	11,821,000	10,642,000
General and administrative expenses	28,410,000	26,328,000
Depreciation and amortization	2,907,000	2,715,000
Operating loss	11,532,000	(3,601,000)
Other (expense) income, net	(15,757,000)	(15,627,000)
Provision for (benefit from) income taxes	42,000	(253,000)
Loss from discontinued operations, net of tax	(1,190,000)	(1,449,000)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenue	464,000	96,000
Home construction and land sales expenses	1,455,000	94,000
Inventory impairments and option contract abandonments	0	17,000
Gross profit	(991,000)	(15,000)
General and administrative expenses	189,000	1,525,000
Operating loss	(1,180,000)	(1,540,000)
Other (expense) income, net	0	69,000
Loss from discontinued operations before income taxes	(1,180,000)	(1,471,000)
Provision for (benefit from) income taxes	$ 10,000	$ (22,000)