Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Jun. 30, 2018	Jul. 23, 2018
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	Jun. 30, 2018
Amendment Flag	false
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		33,674,122

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Sep. 30, 2017
ASSETS
Cash and cash equivalents	$ 136,298	$ 292,147
Restricted cash	12,167	12,462
Accounts receivable (net of allowance of $392 and $330, respectively)	28,005	36,323
Income tax receivable	119	88
Owned inventory	1,767,983	1,542,807
Investments in unconsolidated entities	4,237	3,994
Deferred tax assets, net	195,145	307,896
Property and equipment, net	22,212	17,566
Other assets	10,861	7,712
Total assets	2,177,027	2,220,995
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	143,135	103,484
Other liabilities	124,722	107,659
Total debt, net	1,326,503	1,327,412
Total liabilities	1,594,360	1,538,555
Stockholders’ equity:
Preferred stock (par value $.01 per share, 5,000,000 shares authorized, no shares issued)	0	0
Common stock (par value $0.001 per share, 63,000,000 shares authorized, 33,678,305 issued and outstanding and 33,515,768 issued and outstanding, respectively)	34	34
Paid-in capital	879,270	873,063
Accumulated deficit	(296,637)	(190,657)
Total stockholders’ equity	582,667	682,440
Total liabilities and stockholders’ equity	$ 2,177,027	$ 2,220,995

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Sep. 30, 2017
ASSETS
Allowances for accounts receivable	$ 392	$ 330
LIABILITIES AND STOCKHOLDERS’ EQUITY
Debt (premium) discounts	(2,833)	(3,413)
Debt issuance costs	$ 15,170	$ 14,800
Preferred stock, par value (in US$ per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in US$ per share)	$ 0.001	$ 0.001
Common stock, shares authorized	63,000,000	63,000,000
Common stock, shares issued	33,678,305	33,515,768
Common stock, shares outstanding	33,678,305	33,515,768

Unaudited Condensed Consolidated Statements of Income (Loss) and Unaudited Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Total revenue	$ 511,521	$ 478,588	$ 1,339,188	$ 1,243,297
Home construction and land sales expenses	428,109	399,675	1,119,870	1,043,041
Inventory impairments and abandonments	168	470	168	752
Gross profit	83,244	78,443	219,150	199,504
Commissions	19,535	18,773	51,225	48,728
General and administrative expenses	42,473	40,794	120,610	117,282
Depreciation and amortization	3,656	3,307	9,229	9,139
Operating income	17,580	15,569	38,086	24,355
Equity in income of unconsolidated entities	147	158	302	213
Loss on extinguishment of debt	0	0	(25,904)	(15,563)
Other expense, net	(30)	(2,871)	(4,628)	(12,007)
(Loss) income before income taxes	17,697	12,856	7,856	(3,002)
Expense (benefit) from income taxes	4,268	5,742	113,386	(1,262)
Income (loss) from continuing operations	13,429	7,114	(105,530)	(1,740)
(Loss) income from discontinued operations, net of tax	(20)	9	(450)	(101)
Net income (loss) and comprehensive income (loss)	$ 13,409	$ 7,123	$ (105,980)	$ (1,841)
Weighted average number of shares:
Basic (in shares)	32,147	31,971	32,113	31,944
Diluted (in shares)	32,726	32,375	32,113	31,944
Basic earnings (loss) per share:
Continuing Operations (in dollars per share)	$ 0.42	$ 0.22	$ (3.29)	$ (0.05)
Discontinued Operations (in dollars per share)	0.00	0.00	(0.01)	0.00
Total (in dollars per shares)	0.42	0.22	(3.30)	(0.05)
Diluted income (loss) per share:
Continuing operations (in dollars per share)	0.41	0.22	(3.29)	(0.05)
Discontinued operations (in dollars per share)	0.00	0.00	(0.01)	0.00
Total (in dollar per share)	$ 0.41	$ 0.22	$ (3.30)	$ (0.05)

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net loss	$ (105,980)	$ (1,841)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	9,229	9,139
Stock-based compensation expense	7,692	7,327
Inventory impairments and abandonments	618	752
Deferred and other income tax expense (benefit)	112,752	(2,404)
Write-off of deposit on legacy land investment	0	2,700
Gain on sale of fixed assets	(207)	(123)
Change in allowance for doubtful accounts	62	(178)
Equity in income of unconsolidated entities	(329)	(233)
Cash distributions of income from unconsolidated entities	331	138
Non-cash loss on extinguishment of debt	3,173	3,676
Changes in operating assets and liabilities:
Decrease in accounts receivable	8,256	13,588
Increase in income tax receivable	(31)	(88)
Increase in inventory	(222,304)	(70,770)
Increase in other assets	(3,469)	(1,970)
Increase in trade accounts payable	39,651	14,986
Increase (decrease) in other liabilities	17,080	(14,607)
Net cash used in operating activities	(133,476)	(39,908)
Cash flows from investing activities:
Capital expenditures	(13,894)	(8,661)
Proceeds from sale of fixed assets	226	126
Investments in unconsolidated entities	(421)	(3,005)
Return of capital from unconsolidated entities	176	1,621
Net cash used in investing activities	(13,913)	(9,919)
Cash flows from financing activities:
Repayment of debt	(401,509)	(257,173)
Proceeds from issuance of new debt	400,000	250,000
Repayment of borrowings from credit facility	(75,000)	(25,000)
Borrowings from credit facility	75,000	25,000
Debt issuance costs	(5,743)	(4,757)
Other financing activities	(1,503)	(403)
Net cash used in financing activities	(8,755)	(12,333)
Decrease in cash, cash equivalents, and restricted cash	(156,144)	(62,160)
Cash, cash equivalents, and restricted cash at beginning of period	304,609	243,276
Cash, cash equivalents, and restricted cash at end of period	$ 148,465	$ 181,116

Description of Business	9 Months Ended
Description of Business	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Beazer Homes USA, Inc. is a geographically diversified homebuilder with active operations in 13 states within three geographic regions in the United States: the West, East, and Southeast. Unless the context indicates otherwise, the terms “we,” “us,” “our,” “Beazer,” “Beazer Homes,” and the “Company” used in this Quarterly Report on Form 10-Q refer to Beazer Homes USA, Inc. and its subsidiaries. The Company's homes are designed to appeal to homeowners at different price points across various demographic segments and are generally offered for sale in advance of their construction. Our objective is to provide our customers with homes that incorporate exceptional value and quality, while seeking to maximize our return on invested capital over the course of a housing cycle. For an additional description of our business, refer to Item 1 within our Annual Report on Form 10-K for the fiscal year ended September 30, 2017 (2017 Annual Report).

Basis of Presentation and Summary of Significant Accounting Policies

9 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Such unaudited condensed consolidated financial statements do not include all of the information and disclosures required by GAAP for complete financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2017. In the opinion of management, all adjustments (consisting primarily of normal recurring adjustments) necessary for a fair presentation have been included in the accompanying unaudited condensed consolidated financial statements. The results of the Company's consolidated operations presented herein for the three and nine months ended June 30, 2018 are not necessarily indicative of the results to be expected for the full fiscal year due to seasonal variations in our operations and other factors.

Basis of Consolidation

The accompanying condensed consolidated financial statements include the accounts of Beazer Homes USA, Inc. and its consolidated subsidiaries. Intercompany transactions and balances have been eliminated in consolidation.

In the past, we have discontinued homebuilding operations in various markets. Results from certain of these exited markets are reported as discontinued operations in the accompanying unaudited condensed consolidated statements of income (loss) for all periods presented (see Note 16 for a further discussion of our discontinued operations).

We evaluated events that occurred after the balance sheet date but before these financial statements were issued for accounting treatment and disclosure.

Our fiscal 2018 began on October 1, 2017 and ends on September 30, 2018. Our fiscal 2017 began on October 1, 2016 and ended on September 30, 2017.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make informed estimates and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Accordingly, actual results could differ from these estimates.

Inventory Valuation

We assess our inventory assets no less than quarterly for recoverability in accordance with the policies described in Notes 2 and 5 to the audited consolidated financial statements within our 2017 Annual Report. Our homebuilding inventories that are accounted for as held for development (projects in progress) include land and home construction assets grouped together as communities. Homebuilding inventories held for development are stated at cost (including direct construction costs, capitalized indirect costs, capitalized interest and real estate taxes) unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. For those communities that have been idled (land held for future development), all applicable interest and real estate taxes are expensed as incurred, and the inventory is stated at cost unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. We record land held for sale at the lower of the carrying value or fair value less costs to sell.

Recent Accounting Pronouncements

Revenue from Contracts with Customers. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (ASU 2014-09). ASU 2014-09 requires entities to recognize revenue at an amount that the entity expects to be entitled to upon transferring control of goods or services to a customer, as opposed to when risks and rewards transfer to a customer under the existing revenue recognition guidance. In August 2015, the FASB issued ASU 2015-14 to defer the effective date of ASU 2014-09 for one year, which makes the guidance effective for the Company's first fiscal year beginning after December 15, 2017. Additionally, the FASB is permitting entities to early adopt the standard, which allows for either full retrospective or modified retrospective methods of adoption, for reporting periods beginning after December 15, 2016. We have been involved in industry-specific discussions with the FASB on the treatment of certain items related to our business. However, due to the nature of our operations, we expect to identify similar performance obligations under ASU 2014-09 compared with the deliverables and separate units of account we have identified under existing accounting standards. We expect to adopt the provisions of ASU 2014-09 effective October 1, 2018 under the modified retrospective approach. We do not believe the adoption of ASU 2014-09 will have a material impact on the amount or timing of our homebuilding revenues, although we expect our revenue-related disclosures to change. We are also continuing to evaluate the impact that adoption of this guidance may have on other areas of our business.

Leases. In February 2016, the FASB issued ASU 2016-02, Leases (ASU 2016-02). ASU 2016-02 requires lessees to record most leases on their balance sheets. The timing and classification of lease-related expenses for lessees will depend on whether a lease is determined to be an operating lease or a finance lease using updated criteria within ASU 2016-02. Operating leases will result in straight-line expense (similar to current operating leases), while finance leases will result in a front-loaded expense pattern (similar to current capital leases). Regardless of lease type, the lessee will recognize a right-of-use asset, representing the right to use the identified asset during the lease term, and a related lease liability, representing the present value of the lease payments over the lease term. Lessor accounting will be largely similar to that under the current lease accounting rules. The guidance within ASU 2016-02 will be effective for the Company's first fiscal year beginning after December 15, 2018, with early adoption permitted. ASU 2016-02 must be adopted using a modified retrospective approach, which requires application of the standard at the beginning of the earliest comparative period presented, with certain optional practical expedients. ASU 2016-02 also requires significantly enhanced disclosures around an entity's leases and the related accounting. We continue to evaluate the impact of ASU 2016-02 on our consolidated financial statements. However, a large majority of our leases are for office space, which we have determined will be treated as operating leases under ASU 2016-02. As such, we anticipate recording a right-of-use asset and related lease liability for these leases, but we do not expect our expense recognition pattern to change. Therefore, we do not anticipate any significant change to our statements of income or cash flows as a result of adopting ASU 2016-02.

Statement of Cash Flows. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flow - Restricted Cash (ASU 2016-18). ASU 2016-18 requires that an entity's statement of cash flows explain the change during the period in that entity's total cash and cash equivalents, including amounts generally described as restricted cash or restricted cash equivalents. Therefore, changes in restricted cash and restricted cash equivalents will no longer be shown as specific line items within the statement of cash flows. Additionally, an entity is to reconcile its cash and cash equivalents as per its balance sheet to the cash and cash equivalent balances presented in its statement of cash flows. The Company early adopted the guidance within ASU 2016-18 as of September 30, 2017. Therefore, changes in our restricted cash balances are no longer shown in our statements of cash flows as these balances are included in the beginning and ending cash balances in our statements of cash flows.

The following table presents the changes to our consolidated statements of cash flows as of June 30, 2017 due to the adoption of ASU 2016-18:



in thousands	Nine Months Ended June 30, 2017
Consolidated Statements of Cash Flows:
Net cash used in investing activities (as originally reported)	$	(8,249	)
Movements in restricted cash	(1,670		)
Net cash used in investing activities (as re-casted)	$	(9,919	)

Business Combinations. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01). ASU 2017-01 clarifies the framework for determining whether an integrated set of assets and activities meets the definition of a business. The revised framework establishes a screen for determining whether an integrated set of assets and activities is a business and narrows the definition of a business, which is expected to result in fewer transactions being accounted for as business combinations. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted for transactions that have not been reported in previously issued financial statements. The Company early adopted this guidance as of December 31, 2017 and applied it to applicable transactions occurring during this period.

Income Taxes. In December 2017, the Securities and Exchange Commission Staff issued SAB 118, which provides guidance on accounting for the income tax effects of the Tax Cuts and Jobs Act (Tax Act). SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company's accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements and should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. The Company adopted the guidance of SAB 118 as of December 31, 2017. Refer to Note 10 for additional information on the Tax Act and the impact to our financial statements.

Supplemental Cash Flow Information

9 Months Ended

Jun. 30, 2018

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

The following table presents supplemental disclosure of non-cash and cash activity for the periods presented:



	Nine Months Ended
	June 30,
in thousands	2018		2017
Supplemental disclosure of non-cash activity:
Non-cash land acquisitions ^(a)	$	—	$	8,346
Land acquisitions for debt	—		6,305
Supplemental disclosure of cash activity:
Interest payments	$	60,025	$	60,847
Income tax payments	495		548
Tax refunds received	39		3
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	136,298	$	168,381
Restricted cash	12,167		12,735
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	148,465	$	181,116

^(a) For the nine months ended June 30, 2017, non-cash land acquisitions were comprised of lot takedowns from one of the Company's unconsolidated land development joint ventures.

Investments in Unconsolidated Entities

9 Months Ended

Jun. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Entities

As of June 30, 2018, the Company participated in certain joint ventures and had investments in unconsolidated entities in which it had less than a controlling interest. The following table presents the Company's investment in unconsolidated entities as well as the total equity and outstanding borrowings of such unconsolidated entities as of June 30, 2018 and September 30, 2017:



in thousands	June 30, 2018		September 30, 2017
Investment in unconsolidated entities	$	4,237	$	3,994
Total equity of unconsolidated entities	11,491		11,811
Total outstanding borrowings of unconsolidated entities	15,234		15,797

Equity in income of unconsolidated entities is as follows for the periods presented:



	Three Months Ended				Nine Months Ended
	June 30,				June 30,
in thousands	2018		2017		2018		2017
Equity in income of unconsolidated entities	$	147	$	158	$	302	$	213

For the three and nine months ended June 30, 2018 and 2017, there were no impairments related to investments in unconsolidated entities.

Guarantees

Historically, the Company's joint ventures typically obtained secured acquisition, development, and construction financing. In addition, the Company and its joint venture partners provided varying levels of guarantees of debt and other debt-related obligations for these unconsolidated entities. However, as of June 30, 2018 and September 30, 2017, the Company had no outstanding guarantees or other debt-related obligations related to investments in unconsolidated entities.

Beazer and its joint venture partners generally provide unsecured environmental indemnities to land development joint venture project lenders. These indemnities obligate the Company to reimburse the project lenders for claims related to environmental matters for which they are held responsible. During the three and nine months ended June 30, 2018 and 2017, Beazer was not required to make any payments related to environmental indemnities.

In assessing the need to record a contingent liability for these guarantees, the Company considers its 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, the fair value of the collateral of unconsolidated entities is monitored to ensure that the related borrowings do not exceed the specified percentage of the value of the property securing the borrowings. As of June 30, 2018, no liability was recorded for the contingent aspects of any guarantees that were determined to be reasonably possible but not probable.

Inventory

9 Months Ended

Jun. 30, 2018

Inventory Disclosure [Abstract]

Inventory

Owned inventory consisted of the following as of June 30, 2018 and September 30, 2017:



in thousands	June 30, 2018		September 30, 2017
Homes under construction	$	641,780	$	419,312
Development projects in progress	805,619		785,777
Land held for future development	84,813		112,565
Land held for sale	10,128		17,759
Capitalized interest	152,182		139,203
Model homes	73,461		68,191
Total owned inventory	$	1,767,983	$	1,542,807

Homes under construction include homes substantially finished and ready for delivery and homes in various stages of construction, including the cost of the underlying lot. The Company had 168 (with a cost of $55.1 million) and 171 (with a cost of $52.6 million) substantially completed homes that were not subject to a sales contract (spec homes) as of June 30, 2018 and September 30, 2017, respectively. Development projects in progress consist principally of land and land improvement costs. Certain of the fully developed lots in this category are reserved by a customer deposit or sales contract. Land held for future development consists of communities for which construction and development activities are expected to occur in the future or have been idled. Land held for future development is 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 includes land and lots that do not fit within our homebuilding programs and strategic plans in certain markets. Land held for sale is recorded at the lower of the carrying value or fair value less costs to sell.

The amount of interest we are able to capitalize is dependent upon our qualified inventory balance, which considers the status of our inventory holdings. Our qualified inventory balance includes the majority of our homes under construction and development projects in progress, but excludes land held for future development and land held for sale (see Note 6 for additional information on capitalized interest).

Total owned inventory by reportable segment and by category is presented in the table below as of June 30, 2018 and September 30, 2017:



in thousands	Projects in Progress ^(a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
June 30, 2018
West Segment	$	815,784	$	59,764	$	2,255	$	877,803
East Segment	302,950		14,077		7,159		324,186
Southeast Segment	344,729		10,972		690		356,391
Corporate and unallocated ^(b)	209,579		—		24		209,603
Total	$	1,673,042	$	84,813	$	10,128	$	1,767,983
September 30, 2017
West Segment	$	673,828	$	87,231	$	3,848	$	764,907
East Segment	250,002		14,391		11,578		275,971
Southeast Segment	301,268		10,943		1,233		313,444
Corporate and unallocated ^(b)	187,385		—		1,100		188,485
Total	$	1,412,483	$	112,565	$	17,759	$	1,542,807

^(a)Projects in progress include homes under construction, development projects in progress, capitalized interest, and model homes categories from the preceding table.

^(b)Projects in progress amount includes capitalized interest and indirect costs that are maintained within our Corporate and unallocated segment. Land held for sale amount includes parcels held by our discontinued operations.

Inventory Impairments

When conducting our community level review for the recoverability of our inventory related to projects in progress, we establish a quarterly “watch list” of communities that carry gross margins in backlog and in our forecast that are below a minimum threshold of profitability, as well as recent closings that have gross margins less than a specific threshold. Each community is first evaluated qualitatively to determine if there are temporary factors driving the low profitability levels. Following our qualitative evaluation, communities with more than ten homes remaining to close are subjected to substantial additional financial and operational analyses and review that consider the competitive environment and other factors contributing to gross margins below our watch list threshold. Our assumptions about future home sales prices and absorption rates require significant judgment because the residential homebuilding industry is cyclical and is highly sensitive to changes in economic conditions. For certain communities, we determined that it is prudent to reduce sales prices or further increase sales incentives in response to a variety of factors, including competitive market conditions in those specific submarkets for the product and locations of these communities. For communities where the current competitive and market dynamics indicate that these factors may be other than temporary, which may call into question the recoverability of our investment, a formal impairment analysis is performed. The formal impairment analysis consists of both qualitative competitive market analyses and a quantitative analysis reflecting market and asset specific information. Market deterioration that exceeds our initial estimates may lead us to incur impairment charges on previously impaired homebuilding assets, in addition to homebuilding assets not currently impaired but for which indicators of impairment may arise if markets deteriorate.

For the quarter ended June 30, 2018, there were four communities on our quarterly watch list, two in the West segment and two in the Southeast segment. However, none of these communities required further analysis to be performed after considering certain qualitative factors. For the quarter ended June 30, 2017, there were three communities on our quarterly watch list, all in our West segment. However, none of these communities required further impairment analysis to be performed after considering certain qualitative factors.

Impairments on land held for sale generally represent write downs of these properties to net realizable value less estimated costs to sell and are based on current market conditions and our review of recent comparable transactions. Our assumptions about land sales prices require significant judgment because the real estate market is highly sensitive to changes in economic conditions. We calculate the estimated fair value of land held for sale based on current market conditions and assumptions made by management, which may differ materially from actual results and may result in additional impairments if market conditions deteriorate.

From time-to-time, we also determine that the proper course of action with respect to a community is to not exercise an option and to write off the deposit securing the option takedown and the related pre-acquisition costs, as applicable. In determining whether to abandon lots or lot option contracts, our evaluation is primarily based upon the expected cash flows from the property. Additionally, in certain limited instances, we are forced to abandon lots due to environmental, permitting, or other regulatory issues that do not allow us to build on those lots. If we intend to abandon or walk away from a property, we record a charge to earnings for the deposit amount and any related capitalized costs in the period such decision is made. Abandonment charges generally relate to our decision to abandon lots or not exercise certain option contracts that are not projected to produce adequate results, no longer fit with our long-term strategic plan or, in limited circumstances, are not suitable for building due to environmental or regulatory restrictions that are enacted.

The following table presents our total impairment and abandonment charges for the periods presented:



	Three Months Ended June 30,				Nine Months Ended June 30,
in thousands	2018		2017		2018		2017
Land Held for Sale:
West	$	—	$	—	$	—	$	94
East	168		470		168		470
Total impairment charges on land held for sale	$	168	$	470	$	168	$	564
Abandonments:
East	—		—		—		188
Total continuing operations	$	168	$	470	$	168	$	752
Discontinued Operations:
Land Held for Sale	—		—		450		—
Total impairment and abandonment charges	$	168	$	470	$	618	$	752

Lot Option Agreements and Variable Interest Entities (VIEs)

As previously discussed, we also have access to land inventory through lot option contracts, which generally enable us to defer acquiring portions of properties owned by third parties and unconsolidated entities until we have determined whether to exercise our lot option. The majority of our lot option contracts require a non-refundable cash deposit or irrevocable letter of credit based on a percentage of the purchase price of the land for the right to acquire lots during a specified period of time at a specified price. Under lot option contracts, purchase of the properties is contingent upon satisfaction of certain requirements by us and the sellers. Our liability under option contracts is generally limited to forfeiture of the non-refundable deposits, letters of credit, and other non-refundable amounts incurred. We expect to exercise, subject to market conditions and seller satisfaction of contract terms, most of our remaining option contracts. Various factors, some of which are beyond our control, such as market conditions, weather conditions, and the timing of the completion of development activities, will have a significant impact on the timing of option exercises or whether lot options will be exercised at all.

The following table provides a summary of our interests in lot option agreements as of June 30, 2018 and September 30, 2017:



in thousands	Deposits & Non-refundable Pre-acquisition Costs Incurred		Remaining Obligation
As of June 30, 2018
Unconsolidated lot option agreements	$	73,018	$	355,773
As of September 30, 2017
Unconsolidated lot option agreements	$	91,854	$	408,300

Interest

9 Months Ended

Jun. 30, 2018

Real Estate [Abstract]

Interest

Interest capitalized during the three and nine months ended June 30, 2018 and 2017 was limited by the balance of inventory eligible for capitalization. The following table presents certain information regarding interest for the periods presented:



	Three Months Ended June 30,						Nine Months Ended June 30,
in thousands	2018			2017			2018			2017
Capitalized interest in inventory, beginning of period	$	149,034		$	146,916		$	139,203		$	138,108
Interest incurred	25,803			26,243			76,850			79,812
Interest expense not qualified for capitalization and included as other expense ^(a)	(205		)	(2,934		)	(5,290		)	(12,232		)
Capitalized interest amortized to home construction and land sales expenses ^(b)	(22,450		)	(21,895		)	(58,581		)	(57,358		)
Capitalized interest in inventory, end of period	$	152,182		$	148,330		$	152,182		$	148,330

^(a) The amount of interest we are able to capitalize is dependent upon our qualified inventory balance, which considers the status of our inventory holdings. Our qualified inventory balance includes the majority of our homes under construction and development projects in progress, but excludes land held for future development and land held for sale.

^(b)Capitalized interest amortized to home construction and land sale expenses varies based on the number of homes closed during the period and land sales, if any, as well as other factors.

Borrowings

9 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Borrowings

The Company's debt, net of premiums, discounts, and unamortized debt issuance costs consisted of the following as of June 30, 2018 and September 30, 2017:



in thousands	Maturity Date	June 30, 2018			September 30, 2017
5 3/4% Senior Notes	June 2019	$	96,393		$	321,393
8 3/4% Senior Notes	March 2022	500,000			500,000
7 1/4% Senior Notes	February 2023	24,834			199,834
6 3/4% Senior Notes	March 2025	250,000			250,000
5 7/8% Senior Notes	October 2027	400,000			—
Unamortized debt premium, net		2,833			3,413
Unamortized debt issuance costs		(15,170		)	(14,800		)
Total Senior Notes, net		1,258,890			1,259,840
Junior Subordinated Notes (net of unamortized accretion of $37,286 and $38,837, respectively)	July 2036	63,487			61,937
Other Secured Notes payable	Various Dates	4,126			5,635
Total debt, net		$	1,326,503		$	1,327,412

Secured Revolving Credit Facility

The Secured Revolving Credit Facility (the Facility) provides working capital and letter of credit capacity. In October 2017, a Fourth Amendment to the Facility was executed. The Fourth Amendment (1) extends the termination date of the Facility from February 15, 2019 to February 15, 2020; (2) increases the maximum aggregate amount of commitments under the Facility (including borrowings and letters of credit) from $180.0 million to $200.0 million; and (3) includes a condition that allows the Facility to be increased by an additional $50 million to $250 million, subject to the approval of any lenders providing any such increase. The aggregate collateral ratio (as defined by the underlying Credit Agreement) remained at 4.00 to 1.00 and the after-acquired exclusionary condition (also as defined by the underlying Credit Agreement) remained at $800.0 million. The Facility continues to be with three lenders. For additional discussion of the Facility, refer to Note 8 to the audited consolidated financial statements within our 2017 Annual Report.

As of June 30, 2018, no borrowings and no letters of credit were outstanding under the Facility, resulting in a remaining capacity of $200.0 million. As of September 30, 2017, no borrowings were outstanding under the Facility; however, $34.7 million in letters of credit were outstanding, resulting in a remaining capacity of $145.3 million. The Facility requires compliance with certain covenants, including negative covenants and financial maintenance covenants. As of June 30, 2018, the Company was in compliance with all such covenants.

Letter of Credit Facilities

We have entered into stand-alone, cash-secured letter of credit agreements with banks to maintain our pre-existing letters of credit and to provide for the issuance of new letters of credit in addition to those issued under the Facility. As of June 30, 2018 and September 30, 2017, total letters of credit outstanding under these facilities were $10.8 million and $10.8 million, respectively, all of which were secured by cash collateral in restricted accounts.

In May 2018, the Company entered into a reimbursement agreement with Credit Suisse AG, which provides for the issuance of performance letters of credit, and an unsecured credit agreement with Credit Suisse International that provides for the issuance of up to $50.0 million of standby letters of credit to backstop the Company's obligations under the reimbursement agreement (collectively, the "Bilateral Facility"). The Bilateral Facility will terminate on June 10, 2021. As of June 30, 2018, the total stated amount of performance letters of credit issued under the reimbursement agreement was $26.4 million (and the stated amount of the backstop standby letter of credit issued under the credit agreement was $30.0 million). The Company may enter into additional arrangements to provide greater letter of credit capacity.

Senior Notes

Our Senior Notes are unsecured obligations ranking pari passu with all other existing and future senior indebtedness. Substantially all of our significant subsidiaries are full and unconditional guarantors of the Senior Notes and are jointly and severally liable for obligations under the Senior Notes and the Facility. Each guarantor subsidiary is a 100% owned subsidiary of Beazer Homes. See Note 15 for further information.

All unsecured Senior Notes rank equally in right of payment with all of our existing and future senior unsecured obligations, senior to all of the Company's existing and future subordinated indebtedness and effectively subordinated to the Company's existing and future secured indebtedness, including any outstanding indebtedness under the Facility, to the extent of the value of the assets securing such indebtedness. The unsecured Senior Notes and related guarantees are structurally subordinated to all indebtedness and other liabilities of all of the Company's subsidiaries that do not guarantee these notes, but are fully and unconditionally guaranteed jointly and severally on a senior basis by the Company's wholly-owned subsidiaries party to each applicable indenture.

The Company's Senior Notes are issued under indentures that contain certain restrictive covenants which, among other things, restrict our ability to pay dividends, repurchase our common stock, incur certain types of additional indebtedness, and to make certain investments. Compliance with our Senior Note covenants does not significantly impact our operations. We were in compliance with the covenants contained in the indentures of all of our Senior Notes as of June 30, 2018.

In October 2017, we issued and sold $400.0 million aggregate principal amount of 5.875% unsecured Senior Notes due October 2027 at par (before underwriting and other issuance costs) through a private placement to qualified institutional buyers (the 2027 Notes). Interest on the 2027 Notes is payable semi-annually beginning on April 15, 2018. The 2027 Notes will mature on October 15, 2027. We may redeem the 2027 Notes at any time prior to October 15, 2022, in whole or in part, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, together with accrued and unpaid interest to, but excluding, the redemption date, plus a customary make-whole premium. In addition, on or prior to October 15, 2022, we may redeem up to 35% of the aggregate principal amount of the 2027 Notes with the net cash proceeds of certain equity offerings at a redemption price equal to 105.875% of the principal amount, plus accrued and unpaid interest to, but excluding, the redemption date, provided at least 65% of the aggregate principal amount of the 2027 Notes originally issued remains outstanding immediately after such redemption. Upon the occurrence of certain specified changes of control, the holders of the 2027 Notes will have the right to require us to purchase all or a part of the notes at a repurchase price equal to 101% of their principal amount, plus accrued and unpaid interest to, but excluding, the repurchase date. The covenants related to the 2027 Notes are consistent with our other senior notes. Refer to the table on the following page for additional details regarding redemption features of the 2027 Notes.

During the first quarter of fiscal 2018, the proceeds of the 2027 Notes, as well as $34.5 million cash on hand, were used to redeem $225.0 million of our 5.75% unsecured Senior Notes due 2019 and $175.0 million of our 7.25% unsecured Senior Notes due 2023, resulting in a loss on extinguishment of debt of $25.9 million during the nine months ended June 30, 2018, of which $3.2 million was a non-cash write-off of debt issuance and discount costs.

In March 2017, we issued and sold $250 million aggregate principal amount of 6.75% unsecured Senior Notes due March 2025 at par (before underwriting and other issuance costs) through a private placement to qualified institutional buyers (the 2025 Notes). Interest on the 2025 Notes is payable semi-annually, beginning on September 15, 2017. The 2025 Notes will mature on March 15, 2025. We may redeem the 2025 Notes at any time prior to March 15, 2020, in whole or in part, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, together with accrued and unpaid interest to, but excluding, the redemption date, plus a customary make-whole premium. In addition, on or prior to March 15, 2020, we may redeem up to 35% of the aggregate principal amount of the 2025 Notes with the net cash proceeds of certain equity offerings at a redemption price equal to 106.75% of the principal amount, plus accrued and unpaid interest to, but excluding, the redemption date, provided at least 65% of the aggregate principal amount of the 2025 Notes originally issued remains outstanding immediately after such redemption. Upon the occurrence of certain specified changes of control, the holders of the 2025 Notes will have the right to require us to purchase all or a part of the notes at a repurchase price equal to 101% of their principal amount, plus accrued and unpaid interest to, but excluding, the repurchase date. The covenants related to the 2025 Notes are consistent with our other senior notes.

During the nine months ended June 30, 2017, we redeemed our outstanding Senior Notes due 2021, as well as the then outstanding balance on our term loan, mainly by utilizing the proceeds received from the 2025 Notes issued during the second quarter of fiscal 2017, which is discussed above, as well as cash on hand. This debt repurchase activity resulted in a loss on extinguishment of debt of $15.6 million during the nine months ended June 30, 2017.

For additional redemption features, refer to the table below that summarizes the redemption terms of our Senior Notes:



Senior Note Description	Issuance Date	Maturity Date	Redemption Terms
5 3/4% Senior Notes	April 2014	June 2019	Callable at any time before March 15, 2019, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium; on or after March 15, 2019, callable at 100% of the principal amount plus, in each case, accrued and unpaid interest
8 3/4% Senior Notes	September 2016	March 2022	Callable at any time prior to March 15, 2019, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium; on or after March 15, 2019, callable at a redemption price equal to 104.375% of the principal amount; on or after March 15, 2020, callable at a redemption price equal to 102.188% of the principal amount; on or after March 15, 2021, callable at a redemption price equal to 100% of the principal amount plus, in each case, accrued and unpaid interest
7 1/4% Senior Notes	February 2013	February 2023	After February 1, 2018, callable at a redemption price equal to 103.625% of the principal amount; on or after February 1, 2019, callable at a redemption price equal to 102.417% of the principal amount; on or after February 1, 2020, callable at a redemption price equal to 101.208% of the principal amount; on or after February 1, 2021, callable at 100% of the principal amount plus, in each case, accrued and unpaid interest
6 3/4% Senior Notes	March 2017	March 2025	Callable at any time prior to March 15, 2020, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium; on or after March 15, 2020, callable at a redemption price equal to 105.063% of the principal amount; on or after March 15, 2021, callable at a redemption price equal to 103.375% of the principal amount; on or after March 15, 2022, callable at a redemption price equal to 101.688% of the principal amount; on or after March 15, 2023, callable at a redemption price equal to 100.000% of the principal amount, plus, in each case, accrued and unpaid interest
5 7/8% Senior Notes	October 2017	October 2027	Callable at any time prior to October 15, 2022, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium; on or after October 15, 2022, callable at a redemption price equal to 102.938% of the principal amount; on or after October 15, 2023, callable at a redemption price equal to 101.958% of the principal amount; on or after October 15, 2024, callable at a redemption price equal to 100.979% of the principal amount; on or after October 15, 2025, callable at a redemption price equal to 100.000% of the principal amount, plus, in each case, accrued and unpaid interest

Junior Subordinated Notes

Our unsecured junior subordinated notes (Junior Subordinated Notes) mature on July 30, 2036. The Junior Subordinated Notes are redeemable at par and paid interest at a fixed rate of 7.987% for the first ten years ending July 30, 2016. The securities now have a floating interest rate as defined in the Junior Subordinated Notes Indenture, which was a weighted-average of 4.81% as of June 30, 2018 (because the rate on the portion of the Junior Subordinated Notes that was modified, as discussed subsequently, is subject to a floor). The obligations relating to these notes are subordinated to the Facility and the Senior Notes. In January 2010, we modified the terms of $75.0 million of these notes and recorded them at their then estimated fair value. Over the remaining life of the Junior Subordinated Notes, we will increase their carrying value until this carrying value equals the face value of the notes. As of June 30, 2018, the unamortized accretion was $37.3 million and will be amortized over the remaining life of the notes. As of June 30, 2018, we were in compliance with all covenants under our Junior Subordinated Notes.

Other Secured Notes Payable

We periodically acquire land through the issuance of notes payable. As of June 30, 2018 and September 30, 2017, we had outstanding secured notes payable of $4.1 million and $5.6 million, respectively, primarily related to land acquisitions. These secured notes payable related to land acquisitions have varying expiration dates between 2018 and 2019, and have a weighted-average fixed interest rate of 1.56% as of June 30, 2018. These notes are secured by the real estate to which they relate.

The agreements governing these secured notes payable contain various affirmative and negative covenants. There can be no assurance that we will be able to obtain any future waivers or amendments that may become necessary without significant additional cost or at all. In each instance, however, a covenant default can be cured by repayment of the indebtedness.

Contingencies

9 Months Ended

Jun. 30, 2018

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

Warranty Reserves

We currently provide a limited warranty ranging from one to two years covering workmanship and materials per our defined performance quality standards. In addition, we provide a limited warranty for up to ten years covering only certain defined structural element failures.

Our homebuilding work is performed by subcontractors that typically must agree to indemnify us with regard to their work and provide certificates of insurance demonstrating that they have met our insurance requirements and have named us as an additional insured under their policies. Therefore, many claims relating to workmanship and materials that result in warranty spending are the primary responsibility of these subcontractors. In addition, we maintain insurance coverage related to our construction efforts that can result in recoveries of warranty and construction defect costs above certain specified limits.

Warranty reserves are included in other liabilities within the consolidated balance sheets, and the provision for warranty accruals is included in home construction expenses in our consolidated statements of income. Reserves covering anticipated warranty expenses are recorded for each home closed. Management assesses the adequacy of warranty reserves each reporting period based on historical experience and the expected costs to remediate potential claims. Our review includes a quarterly analysis of the historical data and trends in warranty expense by operating division. Such analysis considers market-specific factors such as warranty experience, the number of home closings, the prices of homes, product mix, and other data in estimating warranty reserves. In addition, the analysis also contemplates the existence of any non-recurring or community-specific warranty-related matters that might not be included in historical data and trends. While estimated warranty liabilities are adjusted each reporting period based on the results of our quarterly analyses, we may not accurately predict actual warranty costs, which could lead to significant changes in the reserves.

Changes in warranty reserves are as follows for the periods presented:



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
in thousands	2018			2017			2018			2017
Balance at beginning of period	$	14,583		$	25,386		$	18,091		$	39,131
Accruals for warranties issued ^(a)	3,254			3,727			10,758			9,549
Changes in liability related to warranties existing in prior periods ^(b)	711			(1,293		)	(2,574		)	6,581
Payments made ^(b)	(3,258		)	(7,998		)	(10,985		)	(35,439		)
Balance at end of period	$	15,290		$	19,822		$	15,290		$	19,822

^(a) Accruals for warranties issued are a function of the number of home closings in the period, the selling prices of the homes closed, and the rates of accrual per home estimated as a percentage of the selling price of the home.

^(b) Changes in liability related to warranties existing and payments made are elevated during the periods presented primarily due to charges and subsequent payments related to water intrusion issues in certain of our communities located in Florida (refer to separate discussion below).

Florida Water Intrusion Issues

In the latter portion of fiscal 2014, we began to experience an increase in reported stucco and water intrusion issues in certain of our communities in Florida (the Florida stucco issues). Through June 30, 2018, we cumulatively recorded charges related to these issues of $85.1 million.

Warranty reserves related to the Florida stucco issues increased during the three months ended June 30, 2018 by $0.1 million but decreased by $0.5 million during the nine months ended June 30, 2018. As of June 30, 2018, 708 homes have been identified as likely to require repairs, of which 682 homes have been repaired. The majority of the remaining repairs in our Florida communities are expected to be completed during fiscal 2018. We made payments related to the Florida stucco issues of $0.4 million and $2.1 million during the three and nine months ended June 30, 2018, respectively. These amounts included payments on fully repaired homes and homes for which remediation is not yet complete, bringing the remaining accrual related to this issue to $2.1 million as of June 30, 2018. This accrual is included in the overall warranty liability detailed above and includes homes deemed likely to require repair. Within the impacted communities, the total estimated cost of remediation for homes under warranty but deemed unlikely to require repair is approximately $2.3 million. For additional information related to the Florida stucco issues, refer to Note 9 of the notes to the consolidated financial statements in our 2017 Annual Report.

Insurance Recoveries

The Company has insurance policies that provide for the reimbursement of certain warranty costs incurred above specified thresholds for each period covered. We have surpassed these thresholds for certain policy years, particularly those that cover most of the homes impacted by the Florida stucco issues discussed above. As such, beginning with the first quarter of our fiscal 2015, we expect a substantial majority of additional costs incurred for warranty work on homes within these policy years to be reimbursed by our insurers.

We adjust our insurance receivables each quarter to reflect our estimate of future costs to be incurred subject to recoveries from insurers. Insurance receivables increased by $0.2 million during the three months ended June 30, 2018 and decreased by $0.2 million during the nine months ended June 30, 2018 to reflect the amounts deemed probable of receiving. The changes to our insurance receivables offset the current three and nine month period changes in our reserve related to the Florida stucco issues. For the three and nine months ended June 30, 2017, insurance receivables decreased by $0.6 million and increased by $5.6 million, respectively. Through June 30, 2018, actual plus expected insurance recoveries related to the Florida stucco issues cumulatively totaled $82.8 million.

Amounts recorded for anticipated insurance recoveries are reflected within the consolidated statements of income as a reduction of home construction expenses. Amounts not yet received from our insurer are recorded on a gross basis, without any reduction for the associated warranty expense, within accounts receivable on our consolidated balance sheets.

Litigation

From time-to-time, we receive claims from institutions that have acquired mortgages originated by our subsidiary, Beazer Mortgage Corporation (BMC), demanding damages or indemnity or that we repurchase such mortgages. BMC stopped originating mortgages in 2008. We have been able to resolve these claims for no cost or for amounts that are not material to our consolidated financial statements. We cannot rule out the potential for additional mortgage loan repurchase or indemnity claims in the future from other investors. At this time, we do not believe that the exposure related to any such claims would be material to our consolidated financial condition, results of operations, or cash flows. As of June 30, 2018, no liability has been recorded for any additional claims related to this matter as such exposure is not both probable and reasonably estimable.

In the normal course of business, we are subject to various lawsuits. We cannot predict or determine the timing or final outcome of these lawsuits or the effect that any adverse findings or determinations in pending lawsuits may have on us. In addition, an estimate of possible loss or range of loss, if any, cannot presently be made with respect to certain of these pending matters. An unfavorable determination in any of the pending lawsuits could result in the payment by us of substantial monetary damages that 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 our Board of Directors on these matters, even if we are ultimately successful, could have a material adverse effect on our financial condition, results of operations, or cash flows.

Other Matters

We and certain of our subsidiaries have been named as defendants in various claims, complaints, and other legal actions, most relating to construction defects, moisture intrusion, and product liability. Certain of the liabilities resulting from these actions are covered in whole or in part by insurance. In our opinion, based on our current assessment, the ultimate resolution of these matters will not have a material adverse effect on our financial condition, results of operations, or cash flows.

We have an accrual of $2.7 million and $3.9 million in other liabilities on our consolidated balance sheets for litigation and related matters, excluding warranty, as of June 30, 2018 and September 30, 2017, respectively.

We had outstanding letters of credit and performance bonds of approximately $37.2 million and $233.6 million, respectively, as of June 30, 2018, related principally to our obligations to local governments to construct roads and other improvements in various developments.

Fair Value Measurements

9 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

As of the dates presented, we had assets on our consolidated balance sheets that were required to be measured at fair value on a recurring or non-recurring basis. We use a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value as follows:


•	Level 1 – Quoted prices in active markets for identical assets or liabilities;


•	Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly through corroboration with market data; and


•	Level 3 – Unobservable inputs that reflect our own estimates about the assumptions market participants would use in pricing the asset or liability.

Certain of our assets are required to be recorded at fair value on a recurring basis. The fair value of our deferred compensation plan assets is based on market-corroborated inputs (Level 2).

Certain of our assets are required to be recorded at fair value on a non-recurring basis when events and circumstances indicate that the carrying value of these assets may not be recovered. We review our long-lived assets, including inventory, for recoverability when factors indicate an impairment may exist, but no less than quarterly. Fair value of assets deemed to be impaired is determined based upon the type of asset being evaluated. The fair value of our owned inventory assets, when required to be calculated, is discussed within Notes 2 and 5. The fair value of our investments in unconsolidated entities is determined primarily using a discounted cash flow model to value the underlying net assets of the respective entities. Due to the substantial use of unobservable inputs in valuing the assets on a non-recurring basis, they are classified within Level 3.

Determining which hierarchical level an asset or liability falls within requires significant judgment. We evaluate our hierarchy disclosures each quarter.

The following table presents the period-end balances of assets measured at fair value on a recurring basis and the impairment-date fair value of certain assets measured at fair value on a non-recurring basis for each hierarchy level. These balances represent only those assets whose carrying values were adjusted to fair value during the periods presented:



in thousands	Level 1		Level 2		Level 3		Total
As of June 30, 2018
Deferred compensation plan assets ^(a)	$	—	$	1,507	$	—	$	1,507
Land held for sale ^(b)	—		—		426		426
As of September 30, 2017
Deferred compensation plan assets ^(a)	$	—	$	1,114	$	—	$	1,114
Development projects in progress ^(b)	—		—		3,791		3,791
Land held for sale ^(b)	—		—		325		325

^(a)Measured at fair value on a recurring basis.

^(b)Measured at fair value on a non-recurring basis.

The fair value of our cash and cash equivalents, restricted cash, accounts receivable, trade accounts payable, other liabilities, amounts due under the Facility (if outstanding), and other secured notes payable approximate their carrying amounts due to the short maturity of these assets and liabilities. When outstanding, obligations related to land not owned under option agreements approximate fair value.

The following table presents the carrying value and estimated fair value of certain of our other financial liabilities as of June 30, 2018 and September 30, 2017:



	As of June 30, 2018				As of September 30, 2017
(In thousands)	Carrying Amount ^(a)		Fair Value		Carrying Amount ^(a)		Fair Value
Senior Notes ^(b)	$	1,258,890	$	1,237,492	$	1,259,840	$	1,355,657
Junior Subordinated Notes	63,487		63,487		61,937		61,937
	$	1,322,377	$	1,300,979	$	1,321,777	$	1,417,594

^(a)Carrying amounts are net of unamortized debt premiums, debt issuance costs, and accretion.

^(b) The estimated fair value for our publicly-held Senior Notes has been determined using quoted market rates (Level 2).

- 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

Income Taxes	9 Months Ended
Income Taxes	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income Tax Provision The Company's income tax provision for quarterly interim periods is based on an estimated annual effective income tax rate calculated separately from the effect of significant, infrequent, or unusual items. The total income tax provision, including discontinued operations, was a tax expense of $4.3 million and $113.2 million for the three and nine months ended June 30, 2018, respectively, compared to an income tax expense of $5.7 million and income tax benefit of $1.3 million for the three and nine months ended June 30, 2017, respectively. The current fiscal year income tax expense was primarily driven by (1) income from continuing operations; (2) the remeasurement of our deferred tax assets as a result of the enactment of the Tax Cuts and Jobs Act (Tax Act); and (3) several discrete tax items, including the impacts to our stock-based compensation expense as a result of current period activity; these expenses were partially offset by (4) the completion of work necessary to claim an additional $2.8 million in tax credits related to prior fiscal years. The tax benefit for the nine months ended June 30, 2017 was primarily driven by the Company's loss from continuing operations, the completion of work necessary to claim an additional $1.3 million in tax credits, which were recorded in fiscal 2017 but related to fiscal 2016, and several other discrete tax items, including a prior period balance due for one of our operating jurisdictions. Deferred Tax Assets and Liabilities The Tax Act is comprehensive tax reform legislation that was enacted by the U.S. government on December 22, 2017. The Tax Act includes significant changes to the Internal Revenue Code, including a reduction in the corporate tax rate from 35% to 21%. Additionally, the Tax Act establishes new laws that will impact our fiscal 2019, including, but not limited to, eliminating the corporate alternative minimum tax (AMT), changes to how existing AMT credits can be realized, and imposing new limitations on the deductibility of certain executive compensation. In connection with our initial analysis of the Tax Act's impacts, and in accordance with the guidance in SAB 118, we recorded a discrete net tax expense of $112.6 million during the three months ended December 31, 2017. This net expense is primarily related to the corporate tax rate reduction and the associated remeasurement of our deferred tax assets. While a provisional tax expense of $112.6 million was recorded based on reasonable estimates of the impact of the reduction in the corporate tax rate, the estimate may be affected by additional analyses related to the Tax Act and temporary differences that will reverse during our fiscal 2018 and subsequent tax years. No change to the estimate was recorded during the three months ended June 30, 2018. The Company continues to evaluate its deferred tax assets each period to determine if a valuation allowance is required based on whether it is more likely than not that some portion of these deferred tax assets will not be realized. As of June 30, 2018, we concluded that it is more likely than not that a substantial portion of our deferred tax assets will be realized. As part of our analysis, we considered both positive and negative factors that impact profitability and whether those factors would lead to a change in the estimate of our deferred tax assets that may be realized in the future. Although the Tax Act may result in changes to our taxable income in the future, we do not anticipate that these changes, along with all available positive and negative evidence, would result in a change to our estimate of the realization of our deferred tax assets as of June 30, 2018. As such, our conclusions on the valuation allowance and Internal Revenue Code Section 382 limitations related to our deferred tax assets remain consistent with the determinations we made during the period ended September 30, 2017, and such conclusions are based on similar company specific and industry factors to those discussed in Note 13 to the audited consolidated financial statements within our 2017 Annual Report. In a near future period, we expect to reduce a portion of our remaining valuation allowance, generating a non-cash tax benefit that will have a material impact on net income and stockholders' equity, if additional positive evidence is present indicating that it is more likely than not that certain portions of our deferred tax assets will be realized.

Stock-based Compensation

9 Months Ended

Jun. 30, 2018

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

Stock-based Compensation

Stock-based compensation expense is included in G&A expenses in the condensed consolidated statements of income. A summary of the expense related to stock-based compensation by award type is as follows for the periods presented:



	Three Months Ended June 30,						Nine Months Ended June 30,
in thousands	2018			2017			2018			2017
Stock options expense	$	42		$	53		$	175		$	215
Restricted stock awards expense	2,442			2,757			7,517			7,112
Before tax stock-based compensation expense	2,484			2,810			7,692			7,327
Tax benefit	(630		)	(1,001		)	(1,951		)	(2,608		)
After tax stock-based compensation expense	$	1,854		$	1,809		$	5,741		$	4,719

During the nine months ended June 30, 2018 and 2017, employees surrendered 78,718 shares and 31,359 shares, respectively, to the Company in payment of minimum tax obligations upon the vesting of stock awards under our stock incentive plans. The aggregate value of surrendered shares based on the market price on the date of surrender was approximately $1.6 million and $0.4 million for the nine months ended June 30, 2018 and 2017, respectively.

Stock Options

The fair value of each stock option granted is estimated on the grant date using the Black-Scholes option-pricing model (Black-Scholes Model). As of June 30, 2018, the intrinsic value of our stock options outstanding, vested and expected to vest, and exercisable were $1.0 million, $1.0 million, and $1.0 million, respectively. As of June 30, 2018 and September 30, 2017, total unrecognized compensation cost related to nonvested stock options was $0.3 million and $0.3 million, respectively. The cost remaining as of June 30, 2018 is expected to be recognized over a weighted-average period of 2.0 years.

During the nine months ended June 30, 2018, we issued 23,680 stock options, each for one share of the Company's stock. These stock options typically vest ratably over three years from the grant date or two years from the grant date if issued under the Employee Stock Option Program (EOP; refer to Note 16 of the notes to the consolidated financial statements in our 2017 Annual Report). Following are the assumptions used to value stock options granted, which derived the weighted average fair value shown, for the period presented:



	Nine Months Ended
	June 30, 2018
Expected life of options	5.0 years
Expected volatility	44.71		%
Expected dividends	—
Weighted average risk-free interest rate	2.06		%
Weighted average fair value	$	8.49

We relied upon a combination of the observed exercise behavior of our prior grants with similar characteristics, the vesting schedule of the current grants, and an index of peer companies with similar grant characteristics to determine the expected life of the options granted. We considered historic returns of our stock and the implied volatility of our publicly-traded options in determining expected volatility. We assumed no dividends would be paid since our Board of Directors has suspended payment of dividends indefinitely and payment of dividends is restricted under our Senior Note covenants. The risk-free interest rate is based on the term structure of interest rates at the time of the option grant.

Activity related to stock options for the periods presented is as follows:



	Three Months Ended				Nine Months Ended
	June 30, 2018				June 30, 2018
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Outstanding at beginning of period	550,259		$	14.18	593,753		$	14.76
Granted	—		—		23,680		20.46
Exercised	(6,525	)	7.51		(8,191	)	7.52
Expired	(5,000	)	18.00		(61,967	)	23.19
Forfeited	(7,012	)	11.68		(15,553	)	10.46
Outstanding at end of period	531,722		$	14.26	531,722		$	14.26
Exercisable at end of period	475,672		$	14.06	475,672		$	14.06
Vested or expected to vest in the future	531,722		$	14.26	531,722		$	14.26

Restricted Stock Awards

The fair value of restricted stock awards with market conditions is estimated on the grant date using a Monte Carlo valuation model. The fair value of restricted stock awards without market conditions is based on the market price of the Company's common stock on the date of grant. If applicable, the cash-settled component of any awards granted to employees is accounted for as a liability, which is adjusted to fair value each reporting period until vested.

Compensation cost arising from restricted stock awards granted to employees is recognized as an expense using the straight-line method over the vesting period. As of June 30, 2018 and September 30, 2017, there was $11.2 million and $8.8 million, respectively, of total unrecognized compensation cost related to nonvested restricted stock awards. The cost remaining as of June 30, 2018 is expected to be recognized over a weighted average period of 1.8 years.

We issued two types of restricted stock awards during the nine months ended June 30, 2018 as follows: (1) performance-based restricted stock awards with a payout based on the Company's performance and certain market conditions; and (2) time-based restricted stock awards. Each award type is discussed further below.

Performance-Based Restricted Stock Awards. During the nine months ended June 30, 2018, we issued 165,085 shares of performance-based restricted stock with market conditions (2018 Performance Shares) to our executive officers and certain other employees. The 2018 Performance Shares are structured to be awarded based on the Company's performance under three pre-determined financial metrics at the end of the three-year performance period. After determining the number of shares earned based on these financial metrics, which can range from 0% to 175% of the targeted number of shares, the award will be subject to further upward or downward adjustment by as much as 20% based on the Company's relative total shareholder return (TSR) compared against the S&P Homebuilders Select Industry Index during the three-year performance period. The 2018 Performance Shares were valued using the Monte Carlo valuation model due to the existence of the TSR market condition and had an estimated fair value of $22.40 per share on the date of grant.

A Monte Carlo valuation model requires the following inputs: (1) the expected dividend yield on the underlying stock; (2) the expected price volatility of the underlying stock; (3) the risk-free interest rate for the period corresponding with the expected term of the award; and (4) the fair value of the underlying stock. For the Company and each member of the peer group, the following inputs were used in the Monte Carlo valuation model to determine the fair value as of the grant date for the 2018 Performance Shares: 0% dividend yield for the Company; expected price volatility ranging from 21.1% to 50.0%; and a risk-free interest rate of 1.81%. The methodology used to determine these assumptions is similar to the Black-Scholes Model; however, the expected term is determined by the model in the Monte Carlo simulation.

Each Performance Share represents a contingent right to receive one share of the Company's common stock if vesting is satisfied at the end of the three-year performance period. Any 2018 Performance Shares earned in excess of the target number of 165,085 shares may be settled in cash or additional shares at the discretion of the Compensation Committee of our Board of Directors. Any portion of these that do not vest at the end of the period will be forfeited.

Time-Based Restricted Stock Awards. During nine months ended June 30, 2018, we also issued 277,165 shares of time-based restricted stock (Restricted Shares) to our directors, executive officers, and certain other employees. The Restricted Shares granted to our non-employee directors vest on the one-year anniversary of the date of grant, while the Restricted Shares granted to our executive officers and other employees vest ratably over three years on each anniversary from the date of grant.

Activity relating to restricted stock awards for the period presented is as follows:



	Nine Months Ended June 30, 2018
	Performance-Based Restricted Stock				Time-Based Restricted Stock				Total Restricted Stock
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Beginning of period	668,766		$	15.72	872,181		$	16.47	1,540,947		$	16.14
Granted	165,085		22.40		277,165		18.98		442,250		20.26
Vested	—		—		(277,611	)	15.07		(277,611	)	15.07
Forfeited	(188,058	)	18.96		(21,643	)	16.52		(209,701	)	18.71
End of period	645,793		$	16.48	850,092		$	17.75	1,495,885		$	17.20

Earnings Per Share

9 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

Basic income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted income per share adjusts the basic income per share for the effects of any potentially dilutive instruments, only in periods in which the Company has net income and such effects are dilutive under the treasury stock method. Basic and diluted income (loss) per share is calculated using unrounded numbers.

The Company reported net income for the three months ended June 30, 2018, but a net loss for the remaining periods presented. Accordingly, for the periods with a net loss, all common stock equivalents were excluded from the computation of diluted loss per share because inclusion would have resulted in anti-dilution. For the three and nine months ended June 30, 2018, 0.4 million and 1.6 million shares related to nonvested stock-based compensation awards, respectively, were excluded from our calculation of diluted income (loss) per share as a result of their anti-dilutive effect. For the three and nine months ended June 30, 2017, 0.5 million and 1.6 million shares related to nonvested stock-based compensation awards, respectively, were excluded from our calculation of diluted income per share as a result of their anti-dilutive effect.



	Three Months Ended June 30,		Nine Months Ended June 30,
in thousands	2018	2017	2018	2017
Basic shares	32,147	31,971	32,113	31,944
Shares issuable upon vesting of restricted stock	500	352	—	—
Shares issuable upon vesting of performance stock	—	14	—	—
Shares issuable upon exercise of options	79	38	—	—
Diluted shares	32,726	32,375	32,113	31,944

Other Liabilities

9 Months Ended

Jun. 30, 2018

Other Liabilities Disclosure [Abstract]

Other Liabilities

Other liabilities include the following as of June 30, 2018 and September 30, 2017:



in thousands	June 30, 2018		September 30, 2017
Accrued bonus and deferred compensation	$	29,541	$	36,753
Customer deposits	20,714		11,704
Accrued interest	24,367		11,024
Accrued warranty expense	15,290		18,091
Litigation accrual	2,749		3,899
Income tax liabilities	867		811
Other	31,194		25,377
Total other liabilities	$	124,722	$	107,659

Segment Information

9 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Segment Information

We currently operate in 13 states that are grouped into three homebuilding segments based on geography. Revenue from our homebuilding segments is derived from the sale of homes that we construct and from land and lot sales. Our reportable segments have been determined on a basis that is used internally by management for evaluating segment performance and resource allocations. We have considered the applicable aggregation criteria and have combined our homebuilding operations into three reportable segments as follows:

West: Arizona, California, Nevada, and Texas

East: Delaware, Indiana, Maryland, New Jersey^(a), Tennessee, and Virginia

Southeast: Florida, Georgia, North Carolina, and South Carolina

^(a)During our fiscal 2015, we made the decision that we would not continue to reinvest in new homebuilding assets in our New Jersey division; therefore, it is no longer considered an active operation. However, it is included in this listing because the segment information below continues to include New Jersey.

Management’s evaluation of segment performance is based on segment operating income. Operating income for our homebuilding segments is defined as homebuilding, land sale, and other revenues less home construction, land development, and land sales expense, commission expense, depreciation and amortization, and certain G&A expenses that are incurred by or allocated to our homebuilding segments. The accounting policies of our segments are described in Note 2 to the consolidated financial statements within our 2017 Annual Report.

The following tables contain our revenue, operating income, and depreciation and amortization by segment for the periods presented:



	Three Months Ended				Nine Months Ended
	June 30,				June 30,
in thousands	2018		2017		2018		2017
Revenue
West	$	242,308	$	208,394	$	654,789	$	565,298
East	132,415		135,246		328,680		336,045
Southeast	136,798		134,948		355,719		341,954
Total revenue	$	511,521	$	478,588	$	1,339,188	$	1,243,297



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
in thousands	2018			2017			2018			2017
Operating income ^(a)
West	$	31,180		$	27,724		$	84,005		$	69,518
East ^(b)	13,642			14,544			29,964			26,633
Southeast	11,557			14,520			26,364			32,109
Segment total	56,379			56,788			140,333			128,260
Corporate and unallocated ^(c)	(38,799		)	(41,219		)	(102,247		)	(103,905		)
Total operating income	$	17,580		$	15,569		$	38,086		$	24,355



	Three Months Ended				Nine Months Ended
	June 30,				June 30,
in thousands	2018		2017		2018		2017
Depreciation and amortization
West	$	1,983	$	1,641	$	4,936	$	4,434
East	700		742		1,690		1,869
Southeast	746		646		1,867		1,768
Segment total	3,429		3,029		8,493		8,071
Corporate and unallocated ^(c)	227		278		736		1,068
Total depreciation and amortization	$	3,656	$	3,307	$	9,229	$	9,139

^(a) Operating income is impacted by impairment and abandonment charges incurred during the periods presented (see Note 5).

^(b) Operating income for our East segment for the nine months ended June 30, 2017 was impacted by a charge to G&A of $2.7 million related to the write-off of a deposit on a legacy investment in a development site that we deemed uncollectible.

^(c)Corporate and unallocated operating loss includes amortization of capitalized interest; movement in capitalized indirects; expenses related to numerous shared services functions that benefit all segments but are not allocated to the operating segments reported above, including information technology, treasury, corporate finance, legal, branding and national marketing; and certain other amounts that are not allocated to our operating segments.

Corporate and unallocated depreciation and amortization represents depreciation and amortization related to assets held by our corporate functions that benefit all segments.

The following table contains capital expenditures by segment for the periods presented:



	Nine Months Ended
	June 30,
in thousands	2018		2017
Capital Expenditures
West	$	6,478	$	4,659
East	1,870		2,073
Southeast	2,215		1,705
Corporate and unallocated	3,331		224
Total capital expenditures	$	13,894	$	8,661

The following table contains our asset balance by segment as of June 30, 2018 and September 30, 2017:



in thousands	June 30, 2018		September 30, 2017
Assets
West	$	897,470	$	779,964
East	335,537		298,532
Southeast	370,270		331,618
Corporate and unallocated ^(a)	573,750		810,881
Total assets	$	2,177,027	$	2,220,995

^(a) Primarily consists of cash and cash equivalents, restricted cash, deferred taxes, capitalized interest and indirects, and other items that are not allocated to the segments.

Supplemental Guarantor Information

9 Months Ended

Jun. 30, 2018

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Supplemental Guarantor information

Supplemental Guarantor Information

As discussed in Note 7, our obligations to pay principal, premium, if any, and interest under certain debt are guaranteed on a joint and several basis by substantially all of our subsidiaries. Certain of our immaterial subsidiaries do not guarantee our Senior Notes or the Facility. The guarantees are full and unconditional and the guarantor subsidiaries are 100% owned by Beazer Homes USA, Inc. The following unaudited financial information presents the line items of our unaudited condensed consolidated financial statements separated by amounts related to the parent issuer, guarantor subsidiaries, non-guarantor subsidiaries, and consolidating adjustments as of or for the periods presented.

Beazer Homes USA, Inc.

Condensed Consolidating Balance Sheet Information

June 30, 2018

(Unaudited)



in thousands	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	130,457	$	9,087	$	631	$	(3,877	)	$	136,298
Restricted cash	10,970		1,197		—		—			12,167
Accounts receivable (net of allowance of $392)			28,003		2		—			28,005
Income tax receivable	119		—		—		—			119
Owned inventory			1,767,983		—		—			1,767,983
Investments in unconsolidated entities	773		3,464		—		—			4,237
Deferred tax assets, net	195,145		—		—		—			195,145
Property and equipment, net			22,212		—		—			22,212
Investments in subsidiaries	615,081		—		—		(615,081		)	—
Intercompany	978,478		—		2,312		(980,790		)	—
Other assets	809		10,033		19		—			10,861
Total assets	$	1,931,832	$	1,841,979	$	2,964	$	(1,599,748	)	$	2,177,027
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	143,135	$	—				$	143,135
Other liabilities	24,476		100,056		190					124,722
Intercompany	2,312		982,355		—		(984,667		)	—
Total debt (net of premium and debt issuance costs)	1,322,377		4,126		—					1,326,503
Total liabilities	1,349,165		1,229,672		190		(984,667		)	1,594,360
Stockholders’ equity	582,667		612,307		2,774		(615,081		)	582,667
Total liabilities and stockholders’ equity	$	1,931,832	$	1,841,979	$	2,964	$	(1,599,748	)	$	2,177,027

Beazer Homes USA, Inc.

Condensed Consolidating Balance Sheet Information

September 30, 2017

(Unaudited)



in thousands	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	283,191	$	15,393	$	724	$	(7,161	)	$	292,147
Restricted cash	11,001		1,461		—		—			12,462
Accounts receivable (net of allowance of $330)	—		36,322		1		—			36,323
Income tax receivable	88		—		—		—			88
Owned inventory	—		1,542,807		—		—			1,542,807
Investments in unconsolidated entities	773		3,221		—		—			3,994
Deferred tax assets, net	307,896		—		—		—			307,896
Property and equipment, net	—		17,566		—		—			17,566
Investments in subsidiaries	808,067		—		—		(808,067		)	—
Intercompany	606,168		—		2,337		(608,505		)	—
Other assets	599		7,098		15		—			7,712
Total assets	$	2,017,783	$	1,623,868	$	3,077	$	(1,423,733	)	$	2,220,995
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	103,484	$	—	$	—		$	103,484
Other liabilities	11,229		96,189		241		—			107,659
Intercompany	2,337		613,329		—		(615,666		)	—
Total debt (net of premium and debt issuance costs)	1,321,777		5,635		—		—			1,327,412
Total liabilities	1,335,343		818,637		241		(615,666		)	1,538,555
Stockholders’ equity	682,440		805,231		2,836		(808,067		)	682,440
Total liabilities and stockholders’ equity	$	2,017,783	$	1,623,868	$	3,077	$	(1,423,733	)	$	2,220,995

Beazer Homes USA, Inc.

Consolidating Statements of Income (Loss) and Comprehensive Income (Loss)

(Unaudited)



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended June 30, 2018
Total revenue	$	—		$	511,521		$	23		$	(23	)	$	511,521
Home construction and land sales expenses	22,441			405,691			—			(23		)	428,109
Gross (loss) profit	(22,441		)	105,662			23			—			83,244
Commissions	—			19,535			—			—			19,535
General and administrative expenses	—			42,445			28			—			42,473
Depreciation and amortization	—			3,656			—			—			3,656
Operating (loss) income	(22,441		)	40,026			(5		)	—			17,580
Equity in income of unconsolidated entities	—			147			—			—			147
Other (expense) income, net	(204		)	187			(13		)	—			(30		)
(Loss) income before income taxes	(22,645		)	40,360			(18		)	—			17,697
(Benefit) expense from income taxes	(6,069		)	10,341			(4		)	—			4,268
Equity in income of subsidiaries	30,005			—			—			(30,005		)	—
Income (loss) from continuing operations	13,429			30,019			(14		)	(30,005		)	13,429
Loss from discontinued operations, net of tax				(11		)	(9		)				(20		)
Equity in loss of subsidiaries from discontinued operations	(20		)							20
Net income (loss) and comprehensive income (loss)	$	13,409		$	30,008		$	(23	)	$	(29,985	)	$	13,409

in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended June 30, 2017
Total revenue	$	—		$	478,588		$	24		$	(24	)	$	478,588
Home construction and land sales expenses	21,895			377,804			—			(24		)	399,675
Inventory impairments and abandonments	—			470			—			—			470
Gross (loss) profit	(21,895		)	100,314			24			—			78,443
Commissions	—			18,773			—			—			18,773
General and administrative expenses	—			40,767			27			—			40,794
Depreciation and amortization	—			3,307			—			—			3,307
Operating (loss) income	(21,895		)	37,467			(3		)	—			15,569
Equity in income of unconsolidated entities	—			158			—			—			158
Other (expense) income, net	(2,934		)	71			(8		)	—			(2,871		)
(Loss) income before income taxes	(24,829		)	37,696			(11		)	—			12,856
(Benefit) expense from income taxes	(9,100		)	14,846			(4		)	—			5,742
Equity in income of subsidiaries	22,843			—			—			(22,843		)	—
Income (loss) from continuing operations	7,114			22,850			(7		)	(22,843		)	7,114
Income (loss) from discontinued operations, net of tax	—			17			(8		)	—			9
Equity in income of subsidiaries from discontinued operations	9			—			—			(9		)	—
Net income (loss) and comprehensive income (loss)	$	7,123		$	22,867		$	(15	)	$	(22,852	)	$	7,123



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2018
Total revenue	$	—		$	1,339,188		$	60		$	(60	)	$	1,339,188
Home construction and land sales expenses	58,564			1,061,366			—			(60		)	1,119,870
Gross (loss) profit	(58,564		)	277,654			60			—			219,150
Commissions	—			51,225			—			—			51,225
General and administrative expenses	—			120,513			97			—			120,610
Depreciation and amortization	—			9,229			—			—			9,229
Operating (loss) income	(58,564		)	96,687			(37		)	—			38,086
Equity in income of unconsolidated entities	—			302			—			—			302
Loss on extinguishment of debt	(25,904		)	—			—			—			(25,904		)
Other (expense) income, net	(5,289		)	687			(26		)	—			(4,628		)
(Loss) income before income taxes	(89,757		)	97,676			(63		)	—			7,856
(Benefit) expense from income taxes	(23,966		)	137,370			(18		)	—			113,386
Equity in loss of subsidiaries	(39,739		)	—			—			39,739			—
Loss from continuing operations	(105,530		)	(39,694		)	(45		)	39,739			(105,530		)
Loss from discontinued operations, net of tax	—			(432		)	(18		)	—			(450		)
Equity in loss of subsidiaries from discontinued operations	(450		)	—			—			450			—
Net loss and comprehensive loss	$	(105,980	)	$	(40,126	)	$	(63	)	$	40,189		$	(105,980	)
in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2017
Total revenue	$	—		$	1,243,297		$	84		$	(84	)	$	1,243,297
Home construction and land sales expenses	57,358			985,767			—			(84		)	1,043,041
Inventory impairments and abandonments	—			752			—			—			752
Gross (loss) profit	(57,358		)	256,778			84			—			199,504
Commissions	—			48,728			—			—			48,728
General and administrative expenses	—			117,204			78			—			117,282
Depreciation and amortization	—			9,139			—			—			9,139
Operating (loss) income	(57,358		)	81,707			6			—			24,355
Equity in income of unconsolidated entities	—			213			—			—			213
Loss on extinguishment of debt	(15,563		)	—			—			—			(15,563		)
Other (expense) income, net	(12,231		)	241			(17		)	—			(12,007		)
(Loss) income before income taxes	(85,152		)	82,161			(11		)	—			(3,002		)
(Benefit) expense from income taxes	(31,148		)	29,890			(4		)	—			(1,262		)
Equity in income of subsidiaries	52,264			—			—			(52,264		)	—
(Loss) income from continuing operations	(1,740		)	52,271			(7		)	(52,264		)	(1,740		)
Loss from discontinued operations, net of tax	—			(84		)	(17		)	—			(101		)
Equity in loss of subsidiaries and discontinued operations	(101		)	—			—			101			—
Net (loss) income and comprehensive (loss) income	$	(1,841	)	$	52,187		$	(24	)	$	(52,163	)	$	(1,841	)

Beazer Homes USA, Inc.

Condensed Consolidating Statements of Cash Flow Information

(Unaudited)



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2018
Net cash provided by (used in) operating activities	$	64,319		$	(197,707	)	$	(88	)	$	—		$	(133,476	)
Cash flows from investing activities:
Capital expenditures	—			(13,894		)	—			—			(13,894		)
Proceeds from sale of fixed assets	—			226			—			—			226
Investments in unconsolidated entities	—			(421		)	—			—			(421		)
Return of capital from unconsolidated entities	—			176			—			—			176
Advances to/from subsidiaries	(208,328		)	—			(6		)	208,334			—
Net cash used in investing activities	(208,328		)	(13,913		)	(6		)	208,334			(13,913		)
Cash flows from financing activities:
Repayment of debt	(401,509		)	—			—			—			(401,509		)
Proceeds from issuance of new debt	400,000			—			—			—			400,000
Repayment of borrowings from credit facility	(75,000		)	—			—			—			(75,000		)
Borrowings from credit facility	75,000			—			—			—			75,000
Debt issuance costs	(5,743		)	—			—			—			(5,743		)
Advances to/from subsidiaries	—			205,050			—			(205,050		)	—
Other financing activities	(1,503		)	—			—			—			(1,503		)
Net cash (used in) provided by financing activities	(8,755		)	205,050			—			(205,050		)	(8,755		)
Decrease in cash, cash equivalents, and restricted cash	(152,764		)	(6,570		)	(94		)	3,284			(156,144		)
Cash, cash equivalents, and restricted cash at beginning of period	294,192			16,854			724			(7,161		)	304,609
Cash, cash equivalents, and restricted cash at end of period	$	141,428		$	10,284		$	630		$	(3,877	)	$	148,465

in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2017
Net cash (used in) provided by operating activities	$	(40,966	)	$	1,061		$	(3	)	$	—		$	(39,908	)
Cash flows from investing activities:
Capital expenditures	—			(8,661		)	—			—			(8,661		)
Proceeds from sale of fixed assets	—			126			—			—			126
Investments in unconsolidated entities	—			(3,005		)	—			—			(3,005		)
Return of capital from unconsolidated entities	—			1,621			—			—			1,621
Advances to/from subsidiaries	1,293			—			22			(1,315		)	—
Net cash provided by (used in) investing activities	1,293			(9,919		)	22			(1,315		)	(9,919		)
Cash flows from financing activities:
Repayment of debt	(253,000		)	(4,173		)	—			—			(257,173		)
Proceeds from issuance of new debt	250,000			—			—			—			250,000
Repayment of borrowings from credit facility	(25,000		)	—			—			—			(25,000		)
Borrowings from credit facility	25,000			—			—			—			25,000
Debt issuance costs	(4,757		)	—			—			—			(4,757		)
Advances to/from subsidiaries	—			1,553			—			(1,553		)	—
Other financing activities	(403		)	—			—			—			(403		)
Net cash used in financing activities	(8,160		)	(2,620		)	—			(1,553		)	(12,333		)
(Decrease) increase in cash, cash equivalents, and restricted cash	(47,833		)	(11,478		)	19			(2,868		)	(62,160		)
Cash, cash equivalents, and restricted cash at beginning of period	228,513			18,404			859			(4,500		)	243,276
Cash, cash equivalents, and restricted cash at end of period	$	180,680		$	6,926		$	878		$	(7,368	)	$	181,116

Discontinued Operations

9 Months Ended

Jun. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

We continually review each of our markets in order to refine our overall investment strategy and to optimize capital and resource allocations in an effort to enhance our financial position and to increase stockholder value. This review entails an evaluation of both external market factors and our position in each market and over time has resulted in the decision to discontinue certain of our homebuilding operations. During our fiscal 2015, we made the decision that we would not continue to reinvest in new homebuilding assets in our New Jersey division; therefore, it is no longer considered an active operation. However, the results of our New Jersey division are not included in the discontinued operations information shown below.

We have classified the results of operations of our discontinued operations separately in the accompanying condensed consolidated statements of income for all periods presented. There were no material assets or liabilities related to these discontinued operations as of June 30, 2018 or September 30, 2017. Discontinued operations were not segregated in the condensed consolidated statements of cash flows. Therefore, amounts for certain captions in the condensed consolidated statements of cash flows will not agree with the respective data in the condensed consolidated statements of income. The results of our discontinued operations in the condensed consolidated statements of income for the periods presented were as follows:



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
(In thousands)	2018			2017			2018			2017
Total revenue	$	—		$	—		$	633		$	—
Home construction and land sales expenses	5			(12		)	728			72
Inventory impairments and lot option abandonments	—			—			450			—
Gross (loss) profit	(5		)	12			(545		)	(72		)
General and administrative expenses	27			21			74			112
Operating loss	(32		)	(9		)	(619		)	(184		)
Equity in income of unconsolidated entities	11			20			27			20
Other expense, net	(6		)	(4		)	(11		)	(7		)
(Loss) income from discontinued operations before income taxes	(27		)	7			(603		)	(171		)
Benefit from income taxes	(7		)	(2		)	(153		)	(70		)
(Loss) income from discontinued operations, net of tax	$	(20	)	$	9		$	(450	)	$	(101	)

Subsequent Event	9 Months Ended
Subsequent Event	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On July 13, 2018, the Company acquired substantially all of the assets, operations, and certain assumed liabilities of Venture Homes, a leading private homebuilder in the Atlanta market, for approximately $65.0 million. The assets acquired by the Company include more than 1,000 lots located in 9 active communities and 18 future communities principally serving first-time and first move-up homebuyers. Additionally, the acquisition includes significant work in progress and 51 homes in backlog. The transaction was funded from available cash on hand. The Company is in the process of completing the initial accounting of this acquisition as a business combination in accordance with ASC 805, Business Combinations, including the allocation of the purchase price to the fair value of identifiable assets acquired and liabilities assumed.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

9 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Basis of Consolidation

We evaluated events that occurred after the balance sheet date but before these financial statements were issued for accounting treatment and disclosure.

Our fiscal 2018 began on October 1, 2017 and ends on September 30, 2018. Our fiscal 2017 began on October 1, 2016 and ended on September 30, 2017.

Use of Estimates

Inventory Valuation

Recent Accounting Pronouncements

The following table presents the changes to our consolidated statements of cash flows as of June 30, 2017 due to the adoption of ASU 2016-18:



in thousands	Nine Months Ended June 30, 2017
Consolidated Statements of Cash Flows:
Net cash used in investing activities (as originally reported)	$	(8,249	)
Movements in restricted cash	(1,670		)
Net cash used in investing activities (as re-casted)	$	(9,919	)

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements

The following table presents the changes to our consolidated statements of cash flows as of June 30, 2017 due to the adoption of ASU 2016-18:



in thousands	Nine Months Ended June 30, 2017
Consolidated Statements of Cash Flows:
Net cash used in investing activities (as originally reported)	$	(8,249	)
Movements in restricted cash	(1,670		)
Net cash used in investing activities (as re-casted)	$	(9,919	)

Supplemental Cash Flow Information (Tables)

9 Months Ended

Jun. 30, 2018

Supplemental Cash Flow Elements [Abstract]

Supplemental disclosure of non-cash activity

The following table presents supplemental disclosure of non-cash and cash activity for the periods presented:



	Nine Months Ended
	June 30,
in thousands	2018		2017
Supplemental disclosure of non-cash activity:
Non-cash land acquisitions ^(a)	$	—	$	8,346
Land acquisitions for debt	—		6,305
Supplemental disclosure of cash activity:
Interest payments	$	60,025	$	60,847
Income tax payments	495		548
Tax refunds received	39		3
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	136,298	$	168,381
Restricted cash	12,167		12,735
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	148,465	$	181,116

^(a) For the nine months ended June 30, 2017, non-cash land acquisitions were comprised of lot takedowns from one of the Company's unconsolidated land development joint ventures.

Investments in Unconsolidated Entities (Tables)

9 Months Ended

Jun. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

Investments in unconsolidated joint ventures, total equity and outstanding borrowings

The following table presents the Company's investment in unconsolidated entities as well as the total equity and outstanding borrowings of such unconsolidated entities as of June 30, 2018 and September 30, 2017:



in thousands	June 30, 2018		September 30, 2017
Investment in unconsolidated entities	$	4,237	$	3,994
Total equity of unconsolidated entities	11,491		11,811
Total outstanding borrowings of unconsolidated entities	15,234		15,797

Equity in income of unconsolidated entities is as follows for the periods presented:



	Three Months Ended				Nine Months Ended
	June 30,				June 30,
in thousands	2018		2017		2018		2017
Equity in income of unconsolidated entities	$	147	$	158	$	302	$	213

Inventory (Tables)

9 Months Ended

Jun. 30, 2018

Inventory Disclosure [Abstract]

Schedule of inventory

Owned inventory consisted of the following as of June 30, 2018 and September 30, 2017:



in thousands	June 30, 2018		September 30, 2017
Homes under construction	$	641,780	$	419,312
Development projects in progress	805,619		785,777
Land held for future development	84,813		112,565
Land held for sale	10,128		17,759
Capitalized interest	152,182		139,203
Model homes	73,461		68,191
Total owned inventory	$	1,767,983	$	1,542,807

Schedule of total owned inventory, by segment

Total owned inventory by reportable segment and by category is presented in the table below as of June 30, 2018 and September 30, 2017:



in thousands	Projects in Progress ^(a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
June 30, 2018
West Segment	$	815,784	$	59,764	$	2,255	$	877,803
East Segment	302,950		14,077		7,159		324,186
Southeast Segment	344,729		10,972		690		356,391
Corporate and unallocated ^(b)	209,579		—		24		209,603
Total	$	1,673,042	$	84,813	$	10,128	$	1,767,983
September 30, 2017
West Segment	$	673,828	$	87,231	$	3,848	$	764,907
East Segment	250,002		14,391		11,578		275,971
Southeast Segment	301,268		10,943		1,233		313,444
Corporate and unallocated ^(b)	187,385		—		1,100		188,485
Total	$	1,412,483	$	112,565	$	17,759	$	1,542,807

^(a)Projects in progress include homes under construction, development projects in progress, capitalized interest, and model homes categories from the preceding table.

Schedule of inventory impairments and lot option abandonment charges, by reportable homebuilding segment

The following table presents our total impairment and abandonment charges for the periods presented:



	Three Months Ended June 30,				Nine Months Ended June 30,
in thousands	2018		2017		2018		2017
Land Held for Sale:
West	$	—	$	—	$	—	$	94
East	168		470		168		470
Total impairment charges on land held for sale	$	168	$	470	$	168	$	564
Abandonments:
East	—		—		—		188
Total continuing operations	$	168	$	470	$	168	$	752
Discontinued Operations:
Land Held for Sale	—		—		450		—
Total impairment and abandonment charges	$	168	$	470	$	618	$	752

Summary of interests in lot option agreements

The following table provides a summary of our interests in lot option agreements as of June 30, 2018 and September 30, 2017:



in thousands	Deposits & Non-refundable Pre-acquisition Costs Incurred		Remaining Obligation
As of June 30, 2018
Unconsolidated lot option agreements	$	73,018	$	355,773
As of September 30, 2017
Unconsolidated lot option agreements	$	91,854	$	408,300

Interest (Tables)

9 Months Ended

Jun. 30, 2018

Real Estate [Abstract]

Real Estate Inventory, Capitalized Interest Costs

The following table presents certain information regarding interest for the periods presented:



	Three Months Ended June 30,						Nine Months Ended June 30,
in thousands	2018			2017			2018			2017
Capitalized interest in inventory, beginning of period	$	149,034		$	146,916		$	139,203		$	138,108
Interest incurred	25,803			26,243			76,850			79,812
Interest expense not qualified for capitalization and included as other expense ^(a)	(205		)	(2,934		)	(5,290		)	(12,232		)
Capitalized interest amortized to home construction and land sales expenses ^(b)	(22,450		)	(21,895		)	(58,581		)	(57,358		)
Capitalized interest in inventory, end of period	$	152,182		$	148,330		$	152,182		$	148,330

^(b)Capitalized interest amortized to home construction and land sale expenses varies based on the number of homes closed during the period and land sales, if any, as well as other factors.

Borrowings (Tables)

9 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

The Company's debt, net of premiums, discounts, and unamortized debt issuance costs consisted of the following as of June 30, 2018 and September 30, 2017:



in thousands	Maturity Date	June 30, 2018			September 30, 2017
5 3/4% Senior Notes	June 2019	$	96,393		$	321,393
8 3/4% Senior Notes	March 2022	500,000			500,000
7 1/4% Senior Notes	February 2023	24,834			199,834
6 3/4% Senior Notes	March 2025	250,000			250,000
5 7/8% Senior Notes	October 2027	400,000			—
Unamortized debt premium, net		2,833			3,413
Unamortized debt issuance costs		(15,170		)	(14,800		)
Total Senior Notes, net		1,258,890			1,259,840
Junior Subordinated Notes (net of unamortized accretion of $37,286 and $38,837, respectively)	July 2036	63,487			61,937
Other Secured Notes payable	Various Dates	4,126			5,635
Total debt, net		$	1,326,503		$	1,327,412

Debt Instrument Redemption

For additional redemption features, refer to the table below that summarizes the redemption terms of our Senior Notes:



Senior Note Description	Issuance Date	Maturity Date	Redemption Terms
5 3/4% Senior Notes	April 2014	June 2019	Callable at any time before March 15, 2019, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium; on or after March 15, 2019, callable at 100% of the principal amount plus, in each case, accrued and unpaid interest
8 3/4% Senior Notes	September 2016	March 2022	Callable at any time prior to March 15, 2019, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium; on or after March 15, 2019, callable at a redemption price equal to 104.375% of the principal amount; on or after March 15, 2020, callable at a redemption price equal to 102.188% of the principal amount; on or after March 15, 2021, callable at a redemption price equal to 100% of the principal amount plus, in each case, accrued and unpaid interest
7 1/4% Senior Notes	February 2013	February 2023	After February 1, 2018, callable at a redemption price equal to 103.625% of the principal amount; on or after February 1, 2019, callable at a redemption price equal to 102.417% of the principal amount; on or after February 1, 2020, callable at a redemption price equal to 101.208% of the principal amount; on or after February 1, 2021, callable at 100% of the principal amount plus, in each case, accrued and unpaid interest
6 3/4% Senior Notes	March 2017	March 2025	Callable at any time prior to March 15, 2020, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium; on or after March 15, 2020, callable at a redemption price equal to 105.063% of the principal amount; on or after March 15, 2021, callable at a redemption price equal to 103.375% of the principal amount; on or after March 15, 2022, callable at a redemption price equal to 101.688% of the principal amount; on or after March 15, 2023, callable at a redemption price equal to 100.000% of the principal amount, plus, in each case, accrued and unpaid interest
5 7/8% Senior Notes	October 2017	October 2027	Callable at any time prior to October 15, 2022, in whole or in part, at a redemption price equal to 100% of the principal amount, plus a customary make-whole premium; on or after October 15, 2022, callable at a redemption price equal to 102.938% of the principal amount; on or after October 15, 2023, callable at a redemption price equal to 101.958% of the principal amount; on or after October 15, 2024, callable at a redemption price equal to 100.979% of the principal amount; on or after October 15, 2025, callable at a redemption price equal to 100.000% of the principal amount, plus, in each case, accrued and unpaid interest

- 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 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 2: 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=84159872&loc=d3e21475-112644

Reference 3: 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=75038535&loc=d3e64711-112823

Reference 4: 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 5: 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=64930739&loc=d3e28878-108400

Reference 6: 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=84159872&loc=d3e21538-112644

Reference 7: 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=84159872&loc=d3e21506-112644

Reference 8: 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=64930785&loc=d3e28541-108399

Reference 9: 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=64930785&loc=d3e28551-108399

Reference 10: 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=84159872&loc=d3e21521-112644

+ Details

Contingencies (Tables)

9 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Warranty reserves

Changes in warranty reserves are as follows for the periods presented:



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
in thousands	2018			2017			2018			2017
Balance at beginning of period	$	14,583		$	25,386		$	18,091		$	39,131
Accruals for warranties issued ^(a)	3,254			3,727			10,758			9,549
Changes in liability related to warranties existing in prior periods ^(b)	711			(1,293		)	(2,574		)	6,581
Payments made ^(b)	(3,258		)	(7,998		)	(10,985		)	(35,439		)
Balance at end of period	$	15,290		$	19,822		$	15,290		$	19,822

Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

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



in thousands	Level 1		Level 2		Level 3		Total
As of June 30, 2018
Deferred compensation plan assets ^(a)	$	—	$	1,507	$	—	$	1,507
Land held for sale ^(b)	—		—		426		426
As of September 30, 2017
Deferred compensation plan assets ^(a)	$	—	$	1,114	$	—	$	1,114
Development projects in progress ^(b)	—		—		3,791		3,791
Land held for sale ^(b)	—		—		325		325

^(a)Measured at fair value on a recurring basis.

^(b)Measured at fair value on a non-recurring basis.

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

The following table presents the carrying value and estimated fair value of certain of our other financial liabilities as of June 30, 2018 and September 30, 2017:



	As of June 30, 2018				As of September 30, 2017
(In thousands)	Carrying Amount ^(a)		Fair Value		Carrying Amount ^(a)		Fair Value
Senior Notes ^(b)	$	1,258,890	$	1,237,492	$	1,259,840	$	1,355,657
Junior Subordinated Notes	63,487		63,487		61,937		61,937
	$	1,322,377	$	1,300,979	$	1,321,777	$	1,417,594

^(a)Carrying amounts are net of unamortized debt premiums, debt issuance costs, and accretion.

^(b) The estimated fair value for our publicly-held Senior Notes has been determined using quoted market rates (Level 2).

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Stock-based compensation (Tables)

9 Months Ended

Jun. 30, 2018

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

Summary of stock-based compensation expense

A summary of the expense related to stock-based compensation by award type is as follows for the periods presented:



	Three Months Ended June 30,						Nine Months Ended June 30,
in thousands	2018			2017			2018			2017
Stock options expense	$	42		$	53		$	175		$	215
Restricted stock awards expense	2,442			2,757			7,517			7,112
Before tax stock-based compensation expense	2,484			2,810			7,692			7,327
Tax benefit	(630		)	(1,001		)	(1,951		)	(2,608		)
After tax stock-based compensation expense	$	1,854		$	1,809		$	5,741		$	4,719

Summary of stock option valuation assumptions

Following are the assumptions used to value stock options granted, which derived the weighted average fair value shown, for the period presented:



	Nine Months Ended
	June 30, 2018
Expected life of options	5.0 years
Expected volatility	44.71		%
Expected dividends	—
Weighted average risk-free interest rate	2.06		%
Weighted average fair value	$	8.49

Schedule of stock options and SSARs outstanding

Activity related to stock options for the periods presented is as follows:



	Three Months Ended				Nine Months Ended
	June 30, 2018				June 30, 2018
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Outstanding at beginning of period	550,259		$	14.18	593,753		$	14.76
Granted	—		—		23,680		20.46
Exercised	(6,525	)	7.51		(8,191	)	7.52
Expired	(5,000	)	18.00		(61,967	)	23.19
Forfeited	(7,012	)	11.68		(15,553	)	10.46
Outstanding at end of period	531,722		$	14.26	531,722		$	14.26
Exercisable at end of period	475,672		$	14.06	475,672		$	14.06
Vested or expected to vest in the future	531,722		$	14.26	531,722		$	14.26

Schedule of nonvested stock awards activity

Activity relating to restricted stock awards for the period presented is as follows:



	Nine Months Ended June 30, 2018
	Performance-Based Restricted Stock				Time-Based Restricted Stock				Total Restricted Stock
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Beginning of period	668,766		$	15.72	872,181		$	16.47	1,540,947		$	16.14
Granted	165,085		22.40		277,165		18.98		442,250		20.26
Vested	—		—		(277,611	)	15.07		(277,611	)	15.07
Forfeited	(188,058	)	18.96		(21,643	)	16.52		(209,701	)	18.71
End of period	645,793		$	16.48	850,092		$	17.75	1,495,885		$	17.20

Earnings Per Share (Tables)

9 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Calculation of diluted shares



	Three Months Ended June 30,		Nine Months Ended June 30,
in thousands	2018	2017	2018	2017
Basic shares	32,147	31,971	32,113	31,944
Shares issuable upon vesting of restricted stock	500	352	—	—
Shares issuable upon vesting of performance stock	—	14	—	—
Shares issuable upon exercise of options	79	38	—	—
Diluted shares	32,726	32,375	32,113	31,944

Segment Information (Tables)

9 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Schedule of segment reporting information

The following tables contain our revenue, operating income, and depreciation and amortization by segment for the periods presented:



	Three Months Ended				Nine Months Ended
	June 30,				June 30,
in thousands	2018		2017		2018		2017
Revenue
West	$	242,308	$	208,394	$	654,789	$	565,298
East	132,415		135,246		328,680		336,045
Southeast	136,798		134,948		355,719		341,954
Total revenue	$	511,521	$	478,588	$	1,339,188	$	1,243,297



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
in thousands	2018			2017			2018			2017
Operating income ^(a)
West	$	31,180		$	27,724		$	84,005		$	69,518
East ^(b)	13,642			14,544			29,964			26,633
Southeast	11,557			14,520			26,364			32,109
Segment total	56,379			56,788			140,333			128,260
Corporate and unallocated ^(c)	(38,799		)	(41,219		)	(102,247		)	(103,905		)
Total operating income	$	17,580		$	15,569		$	38,086		$	24,355



	Three Months Ended				Nine Months Ended
	June 30,				June 30,
in thousands	2018		2017		2018		2017
Depreciation and amortization
West	$	1,983	$	1,641	$	4,936	$	4,434
East	700		742		1,690		1,869
Southeast	746		646		1,867		1,768
Segment total	3,429		3,029		8,493		8,071
Corporate and unallocated ^(c)	227		278		736		1,068
Total depreciation and amortization	$	3,656	$	3,307	$	9,229	$	9,139

^(a) Operating income is impacted by impairment and abandonment charges incurred during the periods presented (see Note 5).

Corporate and unallocated depreciation and amortization represents depreciation and amortization related to assets held by our corporate functions that benefit all segments.

The following table contains capital expenditures by segment for the periods presented:



	Nine Months Ended
	June 30,
in thousands	2018		2017
Capital Expenditures
West	$	6,478	$	4,659
East	1,870		2,073
Southeast	2,215		1,705
Corporate and unallocated	3,331		224
Total capital expenditures	$	13,894	$	8,661

The following table contains our asset balance by segment as of June 30, 2018 and September 30, 2017:



in thousands	June 30, 2018		September 30, 2017
Assets
West	$	897,470	$	779,964
East	335,537		298,532
Southeast	370,270		331,618
Corporate and unallocated ^(a)	573,750		810,881
Total assets	$	2,177,027	$	2,220,995

^(a) Primarily consists of cash and cash equivalents, restricted cash, deferred taxes, capitalized interest and indirects, and other items that are not allocated to the segments.

Supplemental Guarantor Information (Tables)

9 Months Ended

Jun. 30, 2018

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Unaudited Condensed Consolidating Balance Sheet Information

Beazer Homes USA, Inc.

Condensed Consolidating Balance Sheet Information

June 30, 2018

(Unaudited)



in thousands	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	130,457	$	9,087	$	631	$	(3,877	)	$	136,298
Restricted cash	10,970		1,197		—		—			12,167
Accounts receivable (net of allowance of $392)			28,003		2		—			28,005
Income tax receivable	119		—		—		—			119
Owned inventory			1,767,983		—		—			1,767,983
Investments in unconsolidated entities	773		3,464		—		—			4,237
Deferred tax assets, net	195,145		—		—		—			195,145
Property and equipment, net			22,212		—		—			22,212
Investments in subsidiaries	615,081		—		—		(615,081		)	—
Intercompany	978,478		—		2,312		(980,790		)	—
Other assets	809		10,033		19		—			10,861
Total assets	$	1,931,832	$	1,841,979	$	2,964	$	(1,599,748	)	$	2,177,027
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	143,135	$	—				$	143,135
Other liabilities	24,476		100,056		190					124,722
Intercompany	2,312		982,355		—		(984,667		)	—
Total debt (net of premium and debt issuance costs)	1,322,377		4,126		—					1,326,503
Total liabilities	1,349,165		1,229,672		190		(984,667		)	1,594,360
Stockholders’ equity	582,667		612,307		2,774		(615,081		)	582,667
Total liabilities and stockholders’ equity	$	1,931,832	$	1,841,979	$	2,964	$	(1,599,748	)	$	2,177,027

Beazer Homes USA, Inc.

Condensed Consolidating Balance Sheet Information

September 30, 2017

(Unaudited)



in thousands	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	283,191	$	15,393	$	724	$	(7,161	)	$	292,147
Restricted cash	11,001		1,461		—		—			12,462
Accounts receivable (net of allowance of $330)	—		36,322		1		—			36,323
Income tax receivable	88		—		—		—			88
Owned inventory	—		1,542,807		—		—			1,542,807
Investments in unconsolidated entities	773		3,221		—		—			3,994
Deferred tax assets, net	307,896		—		—		—			307,896
Property and equipment, net	—		17,566		—		—			17,566
Investments in subsidiaries	808,067		—		—		(808,067		)	—
Intercompany	606,168		—		2,337		(608,505		)	—
Other assets	599		7,098		15		—			7,712
Total assets	$	2,017,783	$	1,623,868	$	3,077	$	(1,423,733	)	$	2,220,995
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	103,484	$	—	$	—		$	103,484
Other liabilities	11,229		96,189		241		—			107,659
Intercompany	2,337		613,329		—		(615,666		)	—
Total debt (net of premium and debt issuance costs)	1,321,777		5,635		—		—			1,327,412
Total liabilities	1,335,343		818,637		241		(615,666		)	1,538,555
Stockholders’ equity	682,440		805,231		2,836		(808,067		)	682,440
Total liabilities and stockholders’ equity	$	2,017,783	$	1,623,868	$	3,077	$	(1,423,733	)	$	2,220,995

Unaudited Condensed Consolidating Statements of Income (Loss) and Unaudited Comprehensive Income (Loss)

Beazer Homes USA, Inc.

Consolidating Statements of Income (Loss) and Comprehensive Income (Loss)

(Unaudited)



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended June 30, 2018
Total revenue	$	—		$	511,521		$	23		$	(23	)	$	511,521
Home construction and land sales expenses	22,441			405,691			—			(23		)	428,109
Gross (loss) profit	(22,441		)	105,662			23			—			83,244
Commissions	—			19,535			—			—			19,535
General and administrative expenses	—			42,445			28			—			42,473
Depreciation and amortization	—			3,656			—			—			3,656
Operating (loss) income	(22,441		)	40,026			(5		)	—			17,580
Equity in income of unconsolidated entities	—			147			—			—			147
Other (expense) income, net	(204		)	187			(13		)	—			(30		)
(Loss) income before income taxes	(22,645		)	40,360			(18		)	—			17,697
(Benefit) expense from income taxes	(6,069		)	10,341			(4		)	—			4,268
Equity in income of subsidiaries	30,005			—			—			(30,005		)	—
Income (loss) from continuing operations	13,429			30,019			(14		)	(30,005		)	13,429
Loss from discontinued operations, net of tax				(11		)	(9		)				(20		)
Equity in loss of subsidiaries from discontinued operations	(20		)							20
Net income (loss) and comprehensive income (loss)	$	13,409		$	30,008		$	(23	)	$	(29,985	)	$	13,409

in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Three Months Ended June 30, 2017
Total revenue	$	—		$	478,588		$	24		$	(24	)	$	478,588
Home construction and land sales expenses	21,895			377,804			—			(24		)	399,675
Inventory impairments and abandonments	—			470			—			—			470
Gross (loss) profit	(21,895		)	100,314			24			—			78,443
Commissions	—			18,773			—			—			18,773
General and administrative expenses	—			40,767			27			—			40,794
Depreciation and amortization	—			3,307			—			—			3,307
Operating (loss) income	(21,895		)	37,467			(3		)	—			15,569
Equity in income of unconsolidated entities	—			158			—			—			158
Other (expense) income, net	(2,934		)	71			(8		)	—			(2,871		)
(Loss) income before income taxes	(24,829		)	37,696			(11		)	—			12,856
(Benefit) expense from income taxes	(9,100		)	14,846			(4		)	—			5,742
Equity in income of subsidiaries	22,843			—			—			(22,843		)	—
Income (loss) from continuing operations	7,114			22,850			(7		)	(22,843		)	7,114
Income (loss) from discontinued operations, net of tax	—			17			(8		)	—			9
Equity in income of subsidiaries from discontinued operations	9			—			—			(9		)	—
Net income (loss) and comprehensive income (loss)	$	7,123		$	22,867		$	(15	)	$	(22,852	)	$	7,123



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2018
Total revenue	$	—		$	1,339,188		$	60		$	(60	)	$	1,339,188
Home construction and land sales expenses	58,564			1,061,366			—			(60		)	1,119,870
Gross (loss) profit	(58,564		)	277,654			60			—			219,150
Commissions	—			51,225			—			—			51,225
General and administrative expenses	—			120,513			97			—			120,610
Depreciation and amortization	—			9,229			—			—			9,229
Operating (loss) income	(58,564		)	96,687			(37		)	—			38,086
Equity in income of unconsolidated entities	—			302			—			—			302
Loss on extinguishment of debt	(25,904		)	—			—			—			(25,904		)
Other (expense) income, net	(5,289		)	687			(26		)	—			(4,628		)
(Loss) income before income taxes	(89,757		)	97,676			(63		)	—			7,856
(Benefit) expense from income taxes	(23,966		)	137,370			(18		)	—			113,386
Equity in loss of subsidiaries	(39,739		)	—			—			39,739			—
Loss from continuing operations	(105,530		)	(39,694		)	(45		)	39,739			(105,530		)
Loss from discontinued operations, net of tax	—			(432		)	(18		)	—			(450		)
Equity in loss of subsidiaries from discontinued operations	(450		)	—			—			450			—
Net loss and comprehensive loss	$	(105,980	)	$	(40,126	)	$	(63	)	$	40,189		$	(105,980	)
in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2017
Total revenue	$	—		$	1,243,297		$	84		$	(84	)	$	1,243,297
Home construction and land sales expenses	57,358			985,767			—			(84		)	1,043,041
Inventory impairments and abandonments	—			752			—			—			752
Gross (loss) profit	(57,358		)	256,778			84			—			199,504
Commissions	—			48,728			—			—			48,728
General and administrative expenses	—			117,204			78			—			117,282
Depreciation and amortization	—			9,139			—			—			9,139
Operating (loss) income	(57,358		)	81,707			6			—			24,355
Equity in income of unconsolidated entities	—			213			—			—			213
Loss on extinguishment of debt	(15,563		)	—			—			—			(15,563		)
Other (expense) income, net	(12,231		)	241			(17		)	—			(12,007		)
(Loss) income before income taxes	(85,152		)	82,161			(11		)	—			(3,002		)
(Benefit) expense from income taxes	(31,148		)	29,890			(4		)	—			(1,262		)
Equity in income of subsidiaries	52,264			—			—			(52,264		)	—
(Loss) income from continuing operations	(1,740		)	52,271			(7		)	(52,264		)	(1,740		)
Loss from discontinued operations, net of tax	—			(84		)	(17		)	—			(101		)
Equity in loss of subsidiaries and discontinued operations	(101		)	—			—			101			—
Net (loss) income and comprehensive (loss) income	$	(1,841	)	$	52,187		$	(24	)	$	(52,163	)	$	(1,841	)

Unaudited Condensed Consolidating Statements of Cash Flow Information

Beazer Homes USA, Inc.

Condensed Consolidating Statements of Cash Flow Information

(Unaudited)



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2018
Net cash provided by (used in) operating activities	$	64,319		$	(197,707	)	$	(88	)	$	—		$	(133,476	)
Cash flows from investing activities:
Capital expenditures	—			(13,894		)	—			—			(13,894		)
Proceeds from sale of fixed assets	—			226			—			—			226
Investments in unconsolidated entities	—			(421		)	—			—			(421		)
Return of capital from unconsolidated entities	—			176			—			—			176
Advances to/from subsidiaries	(208,328		)	—			(6		)	208,334			—
Net cash used in investing activities	(208,328		)	(13,913		)	(6		)	208,334			(13,913		)
Cash flows from financing activities:
Repayment of debt	(401,509		)	—			—			—			(401,509		)
Proceeds from issuance of new debt	400,000			—			—			—			400,000
Repayment of borrowings from credit facility	(75,000		)	—			—			—			(75,000		)
Borrowings from credit facility	75,000			—			—			—			75,000
Debt issuance costs	(5,743		)	—			—			—			(5,743		)
Advances to/from subsidiaries	—			205,050			—			(205,050		)	—
Other financing activities	(1,503		)	—			—			—			(1,503		)
Net cash (used in) provided by financing activities	(8,755		)	205,050			—			(205,050		)	(8,755		)
Decrease in cash, cash equivalents, and restricted cash	(152,764		)	(6,570		)	(94		)	3,284			(156,144		)
Cash, cash equivalents, and restricted cash at beginning of period	294,192			16,854			724			(7,161		)	304,609
Cash, cash equivalents, and restricted cash at end of period	$	141,428		$	10,284		$	630		$	(3,877	)	$	148,465

in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Nine Months Ended June 30, 2017
Net cash (used in) provided by operating activities	$	(40,966	)	$	1,061		$	(3	)	$	—		$	(39,908	)
Cash flows from investing activities:
Capital expenditures	—			(8,661		)	—			—			(8,661		)
Proceeds from sale of fixed assets	—			126			—			—			126
Investments in unconsolidated entities	—			(3,005		)	—			—			(3,005		)
Return of capital from unconsolidated entities	—			1,621			—			—			1,621
Advances to/from subsidiaries	1,293			—			22			(1,315		)	—
Net cash provided by (used in) investing activities	1,293			(9,919		)	22			(1,315		)	(9,919		)
Cash flows from financing activities:
Repayment of debt	(253,000		)	(4,173		)	—			—			(257,173		)
Proceeds from issuance of new debt	250,000			—			—			—			250,000
Repayment of borrowings from credit facility	(25,000		)	—			—			—			(25,000		)
Borrowings from credit facility	25,000			—			—			—			25,000
Debt issuance costs	(4,757		)	—			—			—			(4,757		)
Advances to/from subsidiaries	—			1,553			—			(1,553		)	—
Other financing activities	(403		)	—			—			—			(403		)
Net cash used in financing activities	(8,160		)	(2,620		)	—			(1,553		)	(12,333		)
(Decrease) increase in cash, cash equivalents, and restricted cash	(47,833		)	(11,478		)	19			(2,868		)	(62,160		)
Cash, cash equivalents, and restricted cash at beginning of period	228,513			18,404			859			(4,500		)	243,276
Cash, cash equivalents, and restricted cash at end of period	$	180,680		$	6,926		$	878		$	(7,368	)	$	181,116

Discontinued Operations (Tables)

9 Months Ended

Jun. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Results of Discontinued Operations

The results of our discontinued operations in the condensed consolidated statements of income for the periods presented were as follows:



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
(In thousands)	2018			2017			2018			2017
Total revenue	$	—		$	—		$	633		$	—
Home construction and land sales expenses	5			(12		)	728			72
Inventory impairments and lot option abandonments	—			—			450			—
Gross (loss) profit	(5		)	12			(545		)	(72		)
General and administrative expenses	27			21			74			112
Operating loss	(32		)	(9		)	(619		)	(184		)
Equity in income of unconsolidated entities	11			20			27			20
Other expense, net	(6		)	(4		)	(11		)	(7		)
(Loss) income from discontinued operations before income taxes	(27		)	7			(603		)	(171		)
Benefit from income taxes	(7		)	(2		)	(153		)	(70		)
(Loss) income from discontinued operations, net of tax	$	(20	)	$	9		$	(450	)	$	(101	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

Reference 3: 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=64827811&loc=d3e1474-107760

Reference 4: 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=64827811&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 9: 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=84176398&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

Description of Business (Details)	Jun. 30, 2018 state region
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states in which home building segments operate \| state	13
Number of regions in which entity operates \| region	3

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash used in investing activities	$ (13,913)	$ (9,919)
Accounting Standards Update 2016-18 \| Scenario, Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash used in investing activities		(8,249)
Accounting Standards Update 2016-18 \| Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash used in investing activities		$ (1,670)

Supplemental Cash Flow Information - Supplemental Disclosure of Non-cash Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2017
Supplemental disclosure of non-cash activity:
Non-cash land acquisitions	$ 0	$ 8,346
Land acquisitions for debt	0	6,305
Supplemental disclosure of cash activity:
Interest payments	60,025	60,847
Income tax payments	495	548
Tax refunds received	39	3
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	136,298	168,381	$ 292,147
Restricted cash	12,167	12,735	$ 12,462
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 148,465	$ 181,116

Investments in Unconsolidated Entities - Outstanding Borrowings of Unconsolidated Entities and Equity in Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2017
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 4,237		$ 4,237		$ 3,994
Equity in income of unconsolidated entities	147	$ 158	302	$ 213
Unconsolidated Entities
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	4,237		4,237		3,994
Total equity of unconsolidated entities	11,491		11,491		11,811
Total outstanding borrowings of unconsolidated entities	$ 15,234		$ 15,234		$ 15,797

Investments in Unconsolidated Entities - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Impairment of unconsolidated entity investments	$ 0	$ 0	$ 0	$ 0
Unconsolidated Entities \| Financial Guarantee
Schedule of Equity Method Investments [Line Items]
Outstanding guarantees	$ 0		$ 0		$ 0

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016
Inventory Disclosure [Abstract]
Homes under construction	$ 641,780		$ 419,312
Development projects in progress	805,619		785,777
Land held for future development	84,813		112,565
Land held for sale	10,128		17,759
Capitalized interest	152,182	$ 149,034	139,203	$ 148,330	$ 146,916	$ 138,108
Model homes	73,461		68,191
Total owned inventory	$ 1,767,983		$ 1,542,807

Inventory - Narrative (Details) $ in Millions	9 Months Ended
Inventory - Narrative (Details) $ in Millions	Jun. 30, 2018 USD ($) home Community	Sep. 30, 2017 USD ($) home	Jun. 30, 2017 Community
Inventory Disclosure [Abstract]
Number of substantially completed homes unsold \| home	168	171
Total value of substantially completed homes \| $	$ 55.1	$ 52.6
Threshold number of homes below a minimum threshold of profitability \| home	10
Real Estate Properties [Line Items]
Number of communities on watch list	4		3
Number of communities requiring further analysis	0		0
West Segment
Real Estate Properties [Line Items]
Number of communities requiring further analysis	2
Southeast Segment
Real Estate Properties [Line Items]
Number of communities requiring further analysis	2

Inventory - Total Owned Inventory by Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Projects in progress	$ 1,673,042	$ 1,412,483
Land held for future development	84,813	112,565
Land held for sale	10,128	17,759
Total owned inventory	1,767,983	1,542,807
Corporate and unallocated
Segment Reporting Information [Line Items]
Projects in progress	209,579	187,385
Land held for future development	0	0
Land held for sale	24	1,100
Total owned inventory	209,603	188,485
West Segment \| Operating Segments
Segment Reporting Information [Line Items]
Projects in progress	815,784	673,828
Land held for future development	59,764	87,231
Land held for sale	2,255	3,848
Total owned inventory	877,803	764,907
East Segment \| Operating Segments
Segment Reporting Information [Line Items]
Projects in progress	302,950	250,002
Land held for future development	14,077	14,391
Land held for sale	7,159	11,578
Total owned inventory	324,186	275,971
Southeast Segment \| Operating Segments
Segment Reporting Information [Line Items]
Projects in progress	344,729	301,268
Land held for future development	10,972	10,943
Land held for sale	690	1,233
Total owned inventory	$ 356,391	$ 313,444

Inventory - Impairments and Lot Option Abandonment Charges, by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Real Estate, Write-down or Reserve [Line Items]
Land Held for Sale	$ 168	$ 470	$ 168	$ 564
Total impairment and abandonment charges	168	470	168	752
Total impairment and abandonment charges	168	470	618	752
Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Total impairment and abandonment charges	168	470	168	752
Discontinued Operations
Real Estate, Write-down or Reserve [Line Items]
Land Held for Sale	0	0	450	0
Total impairment and abandonment charges	0	0	450	0
West Segment
Real Estate, Write-down or Reserve [Line Items]
Land Held for Sale	0	0	0	94
East Segment
Real Estate, Write-down or Reserve [Line Items]
Land Held for Sale	168	470	168	470
Abandonments	$ 0	$ 0	$ 0	$ 188

Inventory - Summary of Interests in Lot Option Agreements (Details) - Unconsolidated lot option agreements - USD ($) $ in Thousands	Jun. 30, 2018	Sep. 30, 2017
Real Estate Properties [Line Items]
Deposits & Non-refundable Pre-acquisition Costs Incurred	$ 73,018	$ 91,854
Remaining Obligation	$ 355,773	$ 408,300

Interest - Schedule of Capitalized Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in inventory, beginning of period	$ 149,034	$ 146,916	$ 139,203	$ 138,108
Interest incurred	25,803	26,243	76,850	79,812
Interest expense not qualified for capitalization and included as other expense	(205)	(2,934)	(5,290)	(12,232)
Capitalized interest amortized to home construction and land sales expenses	(22,450)	(21,895)	(58,581)	(57,358)
Capitalized interest in inventory, end of period	$ 152,182	$ 148,330	$ 152,182	$ 148,330

Borrowings - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Sep. 30, 2017	Jul. 30, 2016
Debt Instrument [Line Items]
Unamortized debt premium, net	$ 2,833	$ 3,413
Unamortized debt issuance costs	(15,170)	(14,800)
Total debt, net	1,326,503	1,327,412
Senior Notes
Debt Instrument [Line Items]
Unamortized debt premium, net	2,833	3,413
Unamortized debt issuance costs	(15,170)	(14,800)
Total debt, net	$ 1,258,890	$ 1,259,840
Senior Notes \| 5 3/4% Senior Notes Maturing June 2019
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	5.75%	5.75%
Total debt, net	$ 96,393	$ 321,393
Senior Notes \| 8 3/4% Senior Notes Maturing March 2022
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	8.75%	8.75%
Total debt, net	$ 500,000	$ 500,000
Senior Notes \| 7 1/4% Senior Notes Maturing February 2023
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	7.25%	7.25%
Total debt, net	$ 24,834	$ 199,834
Senior Notes \| 6 3/4% Senior Notes Maturing March of 2025
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	6.75%	6.75%
Total debt, net	$ 250,000	$ 250,000
Senior Notes \| 5 7/8% Senior Notes Maturing October 2027
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	5.875%	0.00%
Total debt, net	$ 400,000	$ 0
Junior Subordinated Notes
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)			7.987%
Total debt, net	63,487	61,937
Other Secured Notes payable
Debt Instrument [Line Items]
Total debt, net	$ 4,126	$ 5,635

Borrowings - Narrative (Details)		1 Months Ended	3 Months Ended		9 Months Ended
Borrowings - Narrative (Details)	Jul. 30, 2016	Oct. 31, 2017 USD ($)	Jun. 30, 2018 USD ($) lender	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($) lender	Jun. 30, 2017 USD ($)	May 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jan. 31, 2010 USD ($)
Line of Credit Facility [Abstract]
Amount of available borrowings under the Secured Revolving Credit Facility			$ 200,000,000		$ 200,000,000				$ 145,300,000
Senior Notes [Abstract]
Loss on extinguishment of debt			0	$ 0	25,904,000	$ 15,563,000
Non-cash loss on extinguishment of debt					3,173,000	3,676,000
Secured Debt [Abstract]
Total debt, net			1,326,503,000		1,326,503,000				1,327,412,000
Senior Notes
Line of Credit Facility [Abstract]
Early repayment of senior debt			34,500,000
Senior Notes [Abstract]
Non-cash loss on extinguishment of debt			3,200,000
Secured Debt [Abstract]
Total debt, net			$ 1,258,890,000		$ 1,258,890,000				$ 1,259,840,000
Senior Notes \| 5 7/8% Unsecured Senior Notes Maturing October 2027
Line of Credit Facility [Abstract]
Debt instrument, face amount		$ 400,000,000.0
Stated interest rate on debt instrument (percent)		5.875%
Senior Notes \| 6 3/4% Senior Notes Maturing March 2025
Line of Credit Facility [Abstract]
Debt instrument, face amount				$ 250,000,000		$ 250,000,000
Stated interest rate on debt instrument (percent)				6.75%		6.75%
Repurchase price upon change of control, percent of par				101.00%		101.00%
Percentage of debt outstanding after repurchase				35.00%		35.00%
Senior Notes \| 6 3/4% Senior Notes Maturing March 2025 \| Optional Redemption Under Indenture
Line of Credit Facility [Abstract]
Percentage of debt outstanding after repurchase				65.00%		65.00%
Redemption option, percent of par				106.75%		106.75%
Senior Notes \| 5 3/4% Senior Notes Maturing June 2019
Line of Credit Facility [Abstract]
Stated interest rate on debt instrument (percent)			5.75%		5.75%				5.75%
Extinguishment of debt, amount			$ 225,000,000
Secured Debt [Abstract]
Total debt, net			$ 96,393,000		$ 96,393,000				$ 321,393,000
Senior Notes \| 7 1/4% Senior Notes Maturing February 2023
Line of Credit Facility [Abstract]
Stated interest rate on debt instrument (percent)			7.25%		7.25%				7.25%
Extinguishment of debt, amount			$ 175,000,000
Secured Debt [Abstract]
Total debt, net			24,834,000		$ 24,834,000				$ 199,834,000
Senior Notes \| Debt Instrument, Redemption, Period Two \| 5 7/8% Unsecured Senior Notes Maturing October 2027
Line of Credit Facility [Abstract]
Redemption price, percentage of principal amount redeemed		35.00%
Redemption price (as a percentage)		105.875%
Redemption price, percentage of principal amount outstanding after redemption		65.00%
Repurchase price upon change of control, percent of par				101.00%		101.00%
Senior Notes \| Debt Instrument, Redemption, Period Two \| 5 3/4% Senior Notes Maturing June 2019
Line of Credit Facility [Abstract]
Redemption price (as a percentage)
Senior Notes \| Debt Instrument, Redemption, Period Two \| 7 1/4% Senior Notes Maturing February 2023
Line of Credit Facility [Abstract]
Redemption price (as a percentage)					102.417%
Junior Subordinated Notes
Line of Credit Facility [Abstract]
Stated interest rate on debt instrument (percent)	7.987%
Junior Subordinated Notes [Abstract]
Effective period of debt instrument interest rate	10 years
Face amount modification										$ 75,000,000
Unamortized accretion			$ 37,286,000		$ 37,286,000				38,837,000
Secured Debt [Abstract]
Weighted average fixed interest rate of debt (percent)			4.81%		4.81%
Total debt, net			$ 63,487,000		$ 63,487,000				61,937,000
Other secured notes payable
Secured Debt [Abstract]
Weighted average fixed interest rate of debt (percent)			1.56%		1.56%
Total debt, net			$ 4,126,000		$ 4,126,000				5,635,000
Revolving Credit Facility
Line of Credit Facility [Abstract]
Credit facility borrowing capacity			200,000,000.0		200,000,000.0			$ 180,000,000.0
Inventory assets pledged as collateral			$ 800,000,000		$ 800,000,000
Number of lenders \| lender			3		3
Letters of credit secured using cash collateral			$ 0		$ 0				34,700,000
Line of credit			0		0				0
Revolving Credit Facility \| Maximum
Line of Credit Facility [Abstract]
Line of credit facility, allowed increase in borrowing capacity			$ 250,000,000		$ 250,000,000
Aggregate collateral ratio			4.00		4.00
Revolving Credit Facility \| Minimum
Line of Credit Facility [Abstract]
Line of credit facility, allowed increase in borrowing capacity			$ 50,000,000		$ 50,000,000
Aggregate collateral ratio			1.00		1.00
Letter of Credit, Cash Secured
Line of Credit Facility [Abstract]
Letters of credit secured using cash collateral			$ 10,800,000		$ 10,800,000				$ 10,800,000
Standby Letters of Credit \| Standby Letters for Credit Facility
Line of Credit Facility [Abstract]
Credit facility borrowing capacity							$ 50,000,000.0
Letters of credit secured using cash collateral			$ 26,400,000		$ 26,400,000
Standby Letters of Credit \| Backstop Standby Letters of Credit
Line of Credit Facility [Abstract]
Credit facility borrowing capacity							$ 30,000,000

Contingencies - Warranty (Details) $ in Thousands	3 Months Ended		9 Months Ended		45 Months Ended
Contingencies - Warranty (Details) $ in Thousands	Jun. 30, 2018 USD ($) home	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($) home	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($) home
Loss Contingencies [Line Items]
Standard product warranty length, minimum			1 year
Standard product warranty length, maximum			2 years
Limited product warranty length (up to)			10 years
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 14,583	$ 25,386	$ 18,091	$ 39,131
Accruals for warranties issued	3,254	3,727	10,758	9,549
Changes in liability related to warranties existing in prior periods	711	(1,293)	(2,574)	6,581
Payments made	(3,258)	(7,998)	(10,985)	(35,439)
Balance at end of period	15,290	19,822	15,290	19,822	$ 15,290
Insurance recoveries	200	$ 600	200	$ 5,600
Florida
Movement in Standard Product Warranty Accrual [Roll Forward]
Insurance recoveries			82,800
Specific Warranty Issue
Movement in Standard Product Warranty Accrual [Roll Forward]
Product warranty expense					85,100
Specific Warranty Issue \| Florida
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at end of period	2,100		2,100		$ 2,100
Decrease in warranty reserves	$ 100		$ (500)
Homes likely to require more than minor repairs \| home	708		708		708
Homes have been repaired \| home	682		682		682
Product warranty accrual, payments	$ 400		$ 2,100
Estimated remaining warranty costs	$ 2,300		$ 2,300		$ 2,300

Contingencies - Litigation and Other Matters (Details) - USD ($)	Jun. 30, 2018	Sep. 30, 2017
Loss Contingencies [Line Items]
Estimated litigation liability	$ 0
Legal Reserve
Loss Contingencies [Line Items]
Accrued amounts for litigation and other contingent liabilities	2,700,000	$ 3,900,000
Performance Bonds
Loss Contingencies [Line Items]
Letters of credit secured using cash collateral	37,200,000
Outstanding performance bonds	$ 233,600,000

Fair Value Measurements - Fair Value Assets Measured on a Non-recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Sep. 30, 2017
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	$ 1,507	$ 1,114
Development projects in progress		3,791
Land held for sale		325
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	0	0
Development projects in progress		0
Land held for sale		0
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	1,507	1,114
Development projects in progress		0
Land held for sale		0
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	0	0
Development projects in progress		3,791
Land held for sale		$ 325
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale	426
Fair Value, Measurements, Nonrecurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale	0
Fair Value, Measurements, Nonrecurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale	0
Fair Value, Measurements, Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Land held for sale	$ 426

Fair Value Measurements - Carrying Values and Estimated Fair Values of Other Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Sep. 30, 2017
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 1,322,377	$ 1,321,777
Carrying Amount \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	1,258,890	1,259,840
Carrying Amount \| Junior Subordinated Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	63,487	61,937
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	1,300,979	1,417,594
Fair Value \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	1,237,492	1,355,657
Fair Value \| Junior Subordinated Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 63,487	$ 61,937

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income tax expense (benefit), including discontinued operations	$ 4.3		$ 5.7	$ 113.2	$ (1.3)
Tax credit			$ 1.3	$ 2.8
Corporate Tax Rate per The Tax Cuts and Jobs Acts (TTCJA) [Line Items]
Provisional tax expense per the Tax Cuts Cuts and Jobs Act		$ 112.6
Maximum
Corporate Tax Rate per The Tax Cuts and Jobs Acts (TTCJA) [Line Items]
Corporate Tax Rate per The Tax Cuts and Jobs Acts (TTCJA)	35.00%			35.00%
Minimum
Corporate Tax Rate per The Tax Cuts and Jobs Acts (TTCJA) [Line Items]
Corporate Tax Rate per The Tax Cuts and Jobs Acts (TTCJA)	21.00%			21.00%

Stock-based Compensation - Schedule of Compensation Cost for Share-based Payment Arrangement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Before tax stock-based compensation expense	$ 2,484	$ 2,810	$ 7,692	$ 7,327
Tax benefit	(630)	(1,001)	(1,951)	(2,608)
After tax stock-based compensation expense	1,854	1,809	5,741	4,719
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Before tax stock-based compensation expense	42	53	175	215
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Before tax stock-based compensation expense	$ 2,442	$ 2,757	$ 7,517	$ 7,112

Stock-based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares surrendered by employees (shares)		78,718	31,359
Payments related to tax withholding for share-based compensation		$ 1.6	$ 0.4
2017 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period		3 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock options outstanding	$ 1.0	$ 1.0
Aggregate intrinsic value of exercisable stock options	1.0	1.0
Intrinsic value of options exercisable	1.0	1.0
Unrecognized compensation costs related to non-vested stock options award	$ 0.3	$ 0.3		$ 0.3
Weighted average period to recognize remaining cost		1 year 11 months 27 days
Granted (shares)	0	23,680
Award vesting period		3 years
Expected dividends		0.00%
Risk free interest rate		2.06%
Employee purchase plan (EOP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		2 years
Time Based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Granted restricted stock (shares)		277,165
Granted (in dollars per share)		$ 18.98
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted restricted stock (shares)		442,250
Granted (in dollars per share)		$ 20.26
Restricted Stock \| 2017 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Granted (in dollars per share)		$ 22.40
Expected dividends		0.00%
Expected volatility rate range minimum (percent)		21.10%
Expected volatility rate range maximum (percent)		50.00%
Risk free interest rate		1.81%
Restricted Stock \| 2017 Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage		0.00%
Restricted Stock \| 2017 Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage		175.00%
Nonvested Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period to recognize remaining cost		1 year 10 months 3 days
Unrecognized compensation costs related to non-vested stock awards	$ 11.2	$ 11.2		$ 8.8
Total Shareholder Return Performance Share \| 2017 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage		20.00%

Stock-based Compensation - Schedule of Share-based Payment Arrangement, Stock Options, Valuation (Details) - Stock Options	9 Months Ended
	Jun. 30, 2018 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options	4 years 11 months 30 days
Expected volatility	44.71%
Expected dividends	0.00%
Weighted average risk-free interest rate	2.06%
Weighted average grant date fair value (in dollars per share)	$ 8.49

Stock-based Compensation - Stock Options Outstanding (Details) - Stock Options	3 Months Ended	9 Months Ended
	Jun. 30, 2018 $ / shares shares	Jun. 30, 2018 $ / shares shares
Shares
Outstanding at beginning of period (shares) \| shares	550,259	593,753
Granted (shares) \| shares	0	23,680
Exercised (shares) \| shares	(6,525)	(8,191)
Expired (shares) \| shares	(5,000)	(61,967)
Forfeited (shares) \| shares	(7,012)	(15,553)
Outstanding at end of period (shares) \| shares	531,722	531,722
Exercisable at end of period (shares) \| shares	475,672	475,672
Vested or expected to vest in the future (shares) \| shares	531,722	531,722
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share) \| $ / shares	$ 14.18	$ 14.76
Granted (in dollars per share) \| $ / shares	0.00	20.46
Exercised (in dollars per share) \| $ / shares	7.51	7.52
Expired (in dollars per share) \| $ / shares	18.00	23.19
Forfeited (in dollars per share) \| $ / shares	11.68	10.46
Outstanding at end of period (in dollars per share) \| $ / shares	14.26	14.26
Exercisable at end of period (in dollars per share) \| $ / shares	14.06	14.06
Vested or expected to vest in the future (in dollars per share) \| $ / shares	$ 14.26	$ 14.26

Stock-based Compensation - Nonvested Stock Awards (Details)	9 Months Ended
	Jun. 30, 2018 $ / shares shares
Restricted Stock
Shares
Beginning of period (in shares) \| shares	1,540,947
Granted (in shares) \| shares	442,250
Vested (in shares) \| shares	(277,611)
Forfeited (in shares) \| shares	(209,701)
End of period (in shares) \| shares	1,495,885
Weighted Average Grant Date Fair Value
Beginning of period (in dollars per share) \| $ / shares	$ 16.14
Granted (in dollars per share) \| $ / shares	20.26
Vested (in dollars per share) \| $ / shares	15.07
Forfeited (in dollars per share) \| $ / shares	18.71
End of period (in dollars per share) \| $ / shares	$ 17.20
Performance-Based Restricted Stock Awards
Shares
Beginning of period (in shares) \| shares	668,766
Granted (in shares) \| shares	165,085
Vested (in shares) \| shares	0
Forfeited (in shares) \| shares	(188,058)
End of period (in shares) \| shares	645,793
Weighted Average Grant Date Fair Value
Beginning of period (in dollars per share) \| $ / shares	$ 15.72
Granted (in dollars per share) \| $ / shares	22.40
Vested (in dollars per share) \| $ / shares	0.00
Forfeited (in dollars per share) \| $ / shares	18.96
End of period (in dollars per share) \| $ / shares	$ 16.48
Time Based Restricted Stock Awards
Shares
Beginning of period (in shares) \| shares	872,181
Granted (in shares) \| shares	277,165
Vested (in shares) \| shares	(277,611)
Forfeited (in shares) \| shares	(21,643)
End of period (in shares) \| shares	850,092
Weighted Average Grant Date Fair Value
Beginning of period (in dollars per share) \| $ / shares	$ 16.47
Granted (in dollars per share) \| $ / shares	18.98
Vested (in dollars per share) \| $ / shares	15.07
Forfeited (in dollars per share) \| $ / shares	16.52
End of period (in dollars per share) \| $ / shares	$ 17.75

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Nonvested Stock Awards
Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.4	0.5	1.6	1.6

Earnings Per Share - Diluted Shares Calculation (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Basic shares (in shares)	32,147	31,971	32,113	31,944
Diluted shares (in shares)	32,726	32,375	32,113	31,944
Restricted Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares issuable upon vesting of restricted stock (in shares)	500	352	0	0
Performance Shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares issuable upon vesting of restricted stock (in shares)	0	14	0	0
Stock Options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares issuable upon vesting of restricted stock (in shares)	79	38	0	0

Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016
Other Liabilities Disclosure [Abstract]
Accrued bonus and deferred compensation	$ 29,541		$ 36,753
Customer deposits	20,714		11,704
Accrued interest	24,367		11,024
Accrued warranty expense	15,290	$ 14,583	18,091	$ 19,822	$ 25,386	$ 39,131
Litigation accrual	2,749		3,899
Income tax liabilities	867		811
Other	31,194		25,377
Total other liabilities	$ 124,722		$ 107,659

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Details) $ in Thousands	Jun. 30, 2018 USD ($) state region	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($) segment state region	Jun. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)
Segment Reporting [Abstract]
Number of states in which home building segments operate \| state	13		13
Number of regions in which entity operates \| region	3		3
Number of homebuilding segments \| segment			3
Segment Reporting Information [Line Items]
Revenue	$ 511,521	$ 478,588	$ 1,339,188	$ 1,243,297
Operating income	17,580	15,569	38,086	24,355
Depreciation and amortization	3,656	3,307	9,229	9,139
Write-off of deposit on legacy land investment			0	2,700
Capital Expenditures			13,894	8,661
Assets	2,177,027		2,177,027		$ 2,220,995	$ 2,220,995
Operating Segments
Segment Reporting Information [Line Items]
Operating income	56,379	56,788	140,333	128,260
Depreciation and amortization	3,429	3,029	8,493	8,071
Corporate and unallocated
Segment Reporting Information [Line Items]
Operating income	(38,799)	(41,219)	(102,247)	(103,905)
Depreciation and amortization	227	278	736	1,068
Capital Expenditures			3,331	224
Assets	573,750		573,750		810,881
West Segment
Segment Reporting Information [Line Items]
Revenue	242,308	208,394	654,789	565,298
West Segment \| Operating Segments
Segment Reporting Information [Line Items]
Operating income	31,180	27,724	84,005	69,518
Depreciation and amortization	1,983	1,641	4,936	4,434
Capital Expenditures			6,478	4,659
Assets	897,470		897,470		779,964
East Segment
Segment Reporting Information [Line Items]
Revenue	132,415	135,246	328,680	336,045
East Segment \| Operating Segments
Segment Reporting Information [Line Items]
Operating income	13,642	14,544	29,964	26,633
Depreciation and amortization	700	742	1,690	1,869
Capital Expenditures			1,870	2,073
Assets	335,537		335,537		298,532
Southeast Segment
Segment Reporting Information [Line Items]
Revenue	136,798	134,948	355,719	341,954
Southeast Segment \| Operating Segments
Segment Reporting Information [Line Items]
Operating income	11,557	14,520	26,364	32,109
Depreciation and amortization	746	$ 646	1,867	1,768
Capital Expenditures			2,215	$ 1,705
Assets	$ 370,270		$ 370,270		$ 331,618

Supplemental Guarantor Information - Unaudited Condensed Consolidating Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Allowance for Doubtful Accounts Receivable	$ 392		$ 330
ASSETS
Cash and cash equivalents	136,298		292,147	$ 168,381
Restricted cash	12,167		12,462	$ 12,735
Accounts receivable (net of allowance of $392 and $330, respectively)	28,005		36,323
Income tax receivable	119		88
Owned inventory	1,767,983		1,542,807
Investments in unconsolidated entities	4,237		3,994
Deferred tax assets, net	195,145		307,896
Property and equipment, net	22,212		17,566
Investments in subsidiaries	0		0
Intercompany	0		0
Other assets	10,861		7,712
Total assets	2,177,027	$ 2,220,995	2,220,995
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	143,135		103,484
Other liabilities	124,722		107,659
Intercompany	0		0
Total debt, net	1,326,503		1,327,412
Total liabilities	1,594,360		1,538,555
Stockholders’ equity	582,667		682,440
Total liabilities and stockholders’ equity	2,177,027		2,220,995
Consolidating Adjustments
ASSETS
Cash and cash equivalents	(3,877)		(7,161)
Restricted cash	0		0
Accounts receivable (net of allowance of $392 and $330, respectively)	0		0
Income tax receivable	0		0
Owned inventory	0		0
Investments in unconsolidated entities	0		0
Deferred tax assets, net	0		0
Property and equipment, net	0		0
Investments in subsidiaries	(615,081)		(808,067)
Intercompany	(980,790)		(608,505)
Other assets	0		0
Total assets	(1,599,748)		(1,423,733)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable			0
Other liabilities			0
Intercompany	(984,667)		(615,666)
Total debt, net			0
Total liabilities	(984,667)		(615,666)
Stockholders’ equity	(615,081)		(808,067)
Total liabilities and stockholders’ equity	(1,599,748)		(1,423,733)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Allowance for Doubtful Accounts Receivable	392		330
ASSETS
Cash and cash equivalents	130,457		283,191
Restricted cash	10,970		11,001
Accounts receivable (net of allowance of $392 and $330, respectively)			0
Income tax receivable	119		88
Owned inventory			0
Investments in unconsolidated entities	773		773
Deferred tax assets, net	195,145		307,896
Property and equipment, net			0
Investments in subsidiaries	615,081		808,067
Intercompany	978,478		606,168
Other assets	809		599
Total assets	1,931,832		2,017,783
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0		0
Other liabilities	24,476		11,229
Intercompany	2,312		2,337
Total debt, net	1,322,377		1,321,777
Total liabilities	1,349,165		1,335,343
Stockholders’ equity	582,667		682,440
Total liabilities and stockholders’ equity	1,931,832		2,017,783
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	9,087		15,393
Restricted cash	1,197		1,461
Accounts receivable (net of allowance of $392 and $330, respectively)	28,003		36,322
Income tax receivable	0		0
Owned inventory	1,767,983		1,542,807
Investments in unconsolidated entities	3,464		3,221
Deferred tax assets, net	0		0
Property and equipment, net	22,212		17,566
Investments in subsidiaries	0		0
Intercompany	0		0
Other assets	10,033		7,098
Total assets	1,841,979		1,623,868
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	143,135		103,484
Other liabilities	100,056		96,189
Intercompany	982,355		613,329
Total debt, net	4,126		5,635
Total liabilities	1,229,672		818,637
Stockholders’ equity	612,307		805,231
Total liabilities and stockholders’ equity	1,841,979		1,623,868
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	631		724
Restricted cash	0		0
Accounts receivable (net of allowance of $392 and $330, respectively)	2		1
Income tax receivable	0		0
Owned inventory	0		0
Investments in unconsolidated entities	0		0
Deferred tax assets, net	0		0
Property and equipment, net	0		0
Investments in subsidiaries	0		0
Intercompany	2,312		2,337
Other assets	19		15
Total assets	2,964		3,077
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0		0
Other liabilities	190		241
Intercompany	0		0
Total debt, net	0		0
Total liabilities	190		241
Stockholders’ equity	2,774		2,836
Total liabilities and stockholders’ equity	$ 2,964		$ 3,077

Supplemental Guarantor Information - Unaudited Condensed Consolidating Statements of Income (Loss) and Unaudited Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Total revenue	$ 511,521	$ 478,588	$ 1,339,188	$ 1,243,297
Home construction and land sales expenses	428,109	399,675	1,119,870	1,043,041
Inventory impairments and abandonments	168	470	168	752
Gross profit	83,244	78,443	219,150	199,504
Commissions	19,535	18,773	51,225	48,728
General and administrative expenses	42,473	40,794	120,610	117,282
Depreciation and amortization	3,656	3,307	9,229	9,139
Operating income	17,580	15,569	38,086	24,355
Equity in income of unconsolidated entities	147	158	302	213
Loss on extinguishment of debt	0	0	(25,904)	(15,563)
Other (expense) income, net	(30)	(2,871)	(4,628)	(12,007)
(Loss) income before income taxes	17,697	12,856	7,856	(3,002)
(Benefit) expense from income taxes	4,268	5,742	113,386	(1,262)
Equity in income of subsidiaries	0	0	0	0
Income (loss) from continuing operations	13,429	7,114	(105,530)	(1,740)
Income (loss) from discontinued operations, net of tax	(20)	9	(450)	(101)
Equity in income of subsidiaries from discontinued operations		0	0	0
Net income (loss) and comprehensive income (loss)	13,409	7,123	(105,980)	(1,841)
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Total revenue	(23)	(24)	(60)	(84)
Home construction and land sales expenses	(23)	(24)	(60)	(84)
Inventory impairments and abandonments		0		0
Gross profit	0	0	0	0
Commissions	0	0	0	0
General and administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Operating income	0	0	0	0
Equity in income of unconsolidated entities	0	0	0	0
Loss on extinguishment of debt			0	0
Other (expense) income, net	0	0	0	0
(Loss) income before income taxes	0	0	0	0
(Benefit) expense from income taxes	0	0	0	0
Equity in income of subsidiaries	(30,005)	(22,843)	39,739	(52,264)
Income (loss) from continuing operations	(30,005)	(22,843)	39,739	(52,264)
Income (loss) from discontinued operations, net of tax		0	0	0
Equity in income of subsidiaries from discontinued operations	20	(9)	450	101
Net income (loss) and comprehensive income (loss)	(29,985)	(22,852)	40,189	(52,163)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Total revenue	0	0	0	0
Home construction and land sales expenses	22,441	21,895	58,564	57,358
Inventory impairments and abandonments		0		0
Gross profit	(22,441)	(21,895)	(58,564)	(57,358)
Commissions	0	0	0	0
General and administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Operating income	(22,441)	(21,895)	(58,564)	(57,358)
Equity in income of unconsolidated entities	0	0	0	0
Loss on extinguishment of debt			(25,904)	(15,563)
Other (expense) income, net	(204)	(2,934)	(5,289)	(12,231)
(Loss) income before income taxes	(22,645)	(24,829)	(89,757)	(85,152)
(Benefit) expense from income taxes	(6,069)	(9,100)	(23,966)	(31,148)
Equity in income of subsidiaries	30,005	22,843	(39,739)	52,264
Income (loss) from continuing operations	13,429	7,114	(105,530)	(1,740)
Income (loss) from discontinued operations, net of tax		0	0	0
Equity in income of subsidiaries from discontinued operations	(20)	9	(450)	(101)
Net income (loss) and comprehensive income (loss)	13,409	7,123	(105,980)	(1,841)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue	511,521	478,588	1,339,188	1,243,297
Home construction and land sales expenses	405,691	377,804	1,061,366	985,767
Inventory impairments and abandonments		470		752
Gross profit	105,662	100,314	277,654	256,778
Commissions	19,535	18,773	51,225	48,728
General and administrative expenses	42,445	40,767	120,513	117,204
Depreciation and amortization	3,656	3,307	9,229	9,139
Operating income	40,026	37,467	96,687	81,707
Equity in income of unconsolidated entities	147	158	302	213
Loss on extinguishment of debt			0	0
Other (expense) income, net	187	71	687	241
(Loss) income before income taxes	40,360	37,696	97,676	82,161
(Benefit) expense from income taxes	10,341	14,846	137,370	29,890
Equity in income of subsidiaries	0	0	0	0
Income (loss) from continuing operations	30,019	22,850	(39,694)	52,271
Income (loss) from discontinued operations, net of tax	(11)	17	(432)	(84)
Equity in income of subsidiaries from discontinued operations		0	0	0
Net income (loss) and comprehensive income (loss)	30,008	22,867	(40,126)	52,187
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue	23	24	60	84
Home construction and land sales expenses	0	0	0	0
Inventory impairments and abandonments		0		0
Gross profit	23	24	60	84
Commissions	0	0	0	0
General and administrative expenses	28	27	97	78
Depreciation and amortization	0	0	0	0
Operating income	(5)	(3)	(37)	6
Equity in income of unconsolidated entities	0	0	0	0
Loss on extinguishment of debt			0	0
Other (expense) income, net	(13)	(8)	(26)	(17)
(Loss) income before income taxes	(18)	(11)	(63)	(11)
(Benefit) expense from income taxes	(4)	(4)	(18)	(4)
Equity in income of subsidiaries	0	0	0	0
Income (loss) from continuing operations	(14)	(7)	(45)	(7)
Income (loss) from discontinued operations, net of tax	(9)	(8)	(18)	(17)
Equity in income of subsidiaries from discontinued operations		0	0	0
Net income (loss) and comprehensive income (loss)	$ (23)	$ (15)	$ (63)	$ (24)

Supplemental Guarantor Information - Unaudited Condensed Consolidating Statements of Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	$ (133,476)	$ (39,908)
Cash flows from investing activities:
Capital expenditures	(13,894)	(8,661)
Proceeds from sale of fixed assets	226	126
Investments in unconsolidated entities	(421)	(3,005)
Return of capital from unconsolidated entities	176	1,621
Advances to/from subsidiaries	0	0
Net cash used in investing activities	(13,913)	(9,919)
Cash flows from financing activities:
Repayment of debt	(401,509)	(257,173)
Proceeds from issuance of new debt	400,000	250,000
Repayment of borrowings from credit facility	(75,000)	(25,000)
Borrowings from credit facility	75,000	25,000
Debt issuance costs	(5,743)	(4,757)
Advances to/from subsidiaries	0	0
Other financing activities	(1,503)	(403)
Net cash used in financing activities	(8,755)	(12,333)
Decrease in cash, cash equivalents, and restricted cash	(156,144)	(62,160)
Cash, cash equivalents, and restricted cash at beginning of period	304,609	243,276
Cash, cash equivalents, and restricted cash at end of period	148,465	181,116
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	0	0
Cash flows from investing activities:
Capital expenditures	0	0
Proceeds from sale of fixed assets	0	0
Investments in unconsolidated entities	0	0
Return of capital from unconsolidated entities	0	0
Advances to/from subsidiaries	208,334	(1,315)
Net cash used in investing activities	208,334	(1,315)
Cash flows from financing activities:
Repayment of debt	0	0
Proceeds from issuance of new debt	0	0
Repayment of borrowings from credit facility	0	0
Borrowings from credit facility	0	0
Debt issuance costs	0	0
Advances to/from subsidiaries	(205,050)	(1,553)
Other financing activities	0	0
Net cash used in financing activities	(205,050)	(1,553)
Decrease in cash, cash equivalents, and restricted cash	3,284	(2,868)
Cash, cash equivalents, and restricted cash at beginning of period	(7,161)	(4,500)
Cash, cash equivalents, and restricted cash at end of period	(3,877)	(7,368)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	64,319	(40,966)
Cash flows from investing activities:
Capital expenditures	0	0
Proceeds from sale of fixed assets	0	0
Investments in unconsolidated entities	0	0
Return of capital from unconsolidated entities	0	0
Advances to/from subsidiaries	(208,328)	1,293
Net cash used in investing activities	(208,328)	1,293
Cash flows from financing activities:
Repayment of debt	(401,509)	(253,000)
Proceeds from issuance of new debt	400,000	250,000
Repayment of borrowings from credit facility	(75,000)	(25,000)
Borrowings from credit facility	75,000	25,000
Debt issuance costs	(5,743)	(4,757)
Advances to/from subsidiaries	0	0
Other financing activities	(1,503)	(403)
Net cash used in financing activities	(8,755)	(8,160)
Decrease in cash, cash equivalents, and restricted cash	(152,764)	(47,833)
Cash, cash equivalents, and restricted cash at beginning of period	294,192	228,513
Cash, cash equivalents, and restricted cash at end of period	141,428	180,680
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(197,707)	1,061
Cash flows from investing activities:
Capital expenditures	(13,894)	(8,661)
Proceeds from sale of fixed assets	226	126
Investments in unconsolidated entities	(421)	(3,005)
Return of capital from unconsolidated entities	176	1,621
Advances to/from subsidiaries	0	0
Net cash used in investing activities	(13,913)	(9,919)
Cash flows from financing activities:
Repayment of debt	0	(4,173)
Proceeds from issuance of new debt	0	0
Repayment of borrowings from credit facility	0	0
Borrowings from credit facility	0	0
Debt issuance costs	0	0
Advances to/from subsidiaries	205,050	1,553
Other financing activities	0	0
Net cash used in financing activities	205,050	(2,620)
Decrease in cash, cash equivalents, and restricted cash	(6,570)	(11,478)
Cash, cash equivalents, and restricted cash at beginning of period	16,854	18,404
Cash, cash equivalents, and restricted cash at end of period	10,284	6,926
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(88)	(3)
Cash flows from investing activities:
Capital expenditures	0	0
Proceeds from sale of fixed assets	0	0
Investments in unconsolidated entities	0	0
Return of capital from unconsolidated entities	0	0
Advances to/from subsidiaries	(6)	22
Net cash used in investing activities	(6)	22
Cash flows from financing activities:
Repayment of debt	0	0
Proceeds from issuance of new debt	0	0
Repayment of borrowings from credit facility	0	0
Borrowings from credit facility	0	0
Debt issuance costs	0	0
Advances to/from subsidiaries	0	0
Other financing activities	0	0
Net cash used in financing activities	0	0
Decrease in cash, cash equivalents, and restricted cash	(94)	19
Cash, cash equivalents, and restricted cash at beginning of period	724	859
Cash, cash equivalents, and restricted cash at end of period	$ 630	$ 878

Discontinued Operations - Results of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Inventory impairments and lot option abandonments	$ 168	$ 470	$ 168	$ 752
(Loss) income from discontinued operations, net of tax	(20)	9	(450)	(101)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenue	0	0	633	0
Home construction and land sales expenses	5	(12)	728	72
Inventory impairments and lot option abandonments	0	0	450	0
Gross (loss) profit	(5)	12	(545)	(72)
General and administrative expenses	27	21	74	112
Operating loss	(32)	(9)	(619)	(184)
Equity in income of unconsolidated entities	11	20	27	20
Other expense, net	(6)	(4)	(11)	(7)
(Loss) income from discontinued operations before income taxes	(27)	7	(603)	(171)
Benefit from income taxes	(7)	(2)	(153)	(70)
(Loss) income from discontinued operations, net of tax	$ (20)	$ 9	$ (450)	$ (101)

Subsequent Event (Details) - Venture Homes - Subsequent Event $ in Millions	Jul. 13, 2018 USD ($) home Community lot
Subsequent Event [Line Items]
Business Combination, Consideration Transferred \| $	$ 65.0
Number of Lots Acquired \| lot	1,000
Number of Active Communities	9
Number of Future Communities	18
Number of Homes in Backlog \| home	51

Borrowings - Debt Redemption (Details) - Senior Notes	9 Months Ended
Borrowings - Debt Redemption (Details) - Senior Notes	Jun. 30, 2018	Sep. 30, 2017
5 3/4% Senior Notes Maturing June 2019
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	5.75%	5.75%
5 3/4% Senior Notes Maturing June 2019 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.00%
5 3/4% Senior Notes Maturing June 2019 \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price (as a percentage)
5 3/4% Senior Notes Maturing June 2019 \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price (as a percentage)
5 3/4% Senior Notes Maturing June 2019 \| Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Redemption price (as a percentage)
8 3/4% Senior Notes Maturing March 2022
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	8.75%	8.75%
8 3/4% Senior Notes Maturing March 2022 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.00%
8 3/4% Senior Notes Maturing March 2022 \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price (as a percentage)	104.375%
8 3/4% Senior Notes Maturing March 2022 \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price (as a percentage)	102.188%
8 3/4% Senior Notes Maturing March 2022 \| Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.00%
7 1/4% Senior Notes Maturing February 2023
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	7.25%	7.25%
7 1/4% Senior Notes Maturing February 2023 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price (as a percentage)	103.625%
7 1/4% Senior Notes Maturing February 2023 \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price (as a percentage)	102.417%
7 1/4% Senior Notes Maturing February 2023 \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price (as a percentage)	101.208%
7 1/4% Senior Notes Maturing February 2023 \| Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.00%
6 3/4% Senior Notes Maturing March of 2025
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	6.75%	6.75%
6 3/4% Senior Notes Maturing March of 2025 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.00%
6 3/4% Senior Notes Maturing March of 2025 \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price (as a percentage)	105.063%
6 3/4% Senior Notes Maturing March of 2025 \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price (as a percentage)	103.375%
6 3/4% Senior Notes Maturing March of 2025 \| Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Redemption price (as a percentage)	101.688%
6 3/4% Senior Notes Maturing March of 2025 \| Debt Instrument, Redemption, Period Five
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.00%
5 7/8% Senior Notes Maturing October 2027
Debt Instrument [Line Items]
Stated interest rate on debt instrument (percent)	5.875%	0.00%
5 7/8% Senior Notes Maturing October 2027 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.00%
5 7/8% Senior Notes Maturing October 2027 \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price (as a percentage)	102.938%
5 7/8% Senior Notes Maturing October 2027 \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price (as a percentage)	101.958%
5 7/8% Senior Notes Maturing October 2027 \| Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.979%
5 7/8% Senior Notes Maturing October 2027 \| Debt Instrument, Redemption, Period Five
Debt Instrument [Line Items]
Redemption price (as a percentage)	100.00%