Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Sep. 30, 2019	Nov. 08, 2019	Mar. 31, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	BEAZER HOMES USA INC
Entity Central Index Key	0000915840
Document Type	10-K
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		30,941,060
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 353,443,060

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018
ASSETS
Cash and cash equivalents	$ 106,741	$ 139,805
Restricted cash	16,053	13,443
Accounts receivable (net of allowance of $304 and $378, respectively)	26,395	24,647
Income tax receivable	4,935	0
Owned inventory	1,504,248	1,692,284
Investments in unconsolidated entities	3,962	4,035
Deferred tax assets, net	246,957	213,955
Property and equipment, net	27,421	20,843
Goodwill	11,376	9,751
Other assets	9,556	9,339
Total assets	1,957,644	2,128,102
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	131,152	126,432
Other liabilities	109,429	126,389
Total debt (net of premium of $0 and $2,640, respectively, and debt issuance costs of $12,470 and $14,336, respectively)	1,178,309	1,231,254
Total liabilities	1,418,890	1,484,075
Stockholders’ equity:
Preferred stock (par value $0.01 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, 30,933,110 issued and outstanding and 33,522,046 issued and outstanding, respectively)	31	34
Paid-in capital	854,275	880,025
Accumulated deficit	(315,552)	(236,032)
Total stockholders’ equity	538,754	644,027
Total liabilities and stockholders’ equity	$ 1,957,644	$ 2,128,102

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018
ASSETS
Allowances for accounts receivable	$ 304	$ 378
LIABILITIES AND STOCKHOLDERS’ EQUITY
Debt (premium) discounts	0	(2,640)
Debt issuance costs	$ 12,470	$ 14,336
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	63,000,000	63,000,000
Common stock, shares issued (in shares)	30,933,110	33,522,046
Common stock, shares outstanding (in shares)	30,933,110	33,522,046

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Total revenue	$ 781,701	$ 482,738	$ 421,260	$ 402,040	$ 767,945	$ 511,521	$ 455,178	$ 372,489	$ 2,087,739	$ 2,107,133	$ 1,916,278
Home construction and land sales expenses									1,773,085	1,755,619	1,600,969
Inventory impairments and abandonments	0	0	147,611	1,007	6,331	168	0	0	148,618	6,499	2,445
Gross profit	116,297	71,764	(82,680)	60,655	125,865	83,244	75,077	60,829	166,036	345,015	312,864
Commissions									79,802	81,002	74,811
General and administrative expenses									161,371	168,658	161,906
Depreciation and amortization									14,759	13,807	14,009
Operating (loss) income	36,005	9,543	(138,950)	3,506	43,462	17,580	13,825	6,681	(89,896)	81,548	62,138
Equity in income of unconsolidated entities									404	34	371
Loss on extinguishment of debt, net	(25,494)	358	216	0	(1,935)	0	0	(25,904)	(24,920)	(27,839)	(12,630)
Other expense, net									(2,226)	(4,305)	(15,230)
(Loss) income from continuing operations before income taxes									(116,638)	49,438	34,649
(Benefit) expense from income taxes									(37,217)	94,484	2,696
(Loss) income from continuing operations	$ 2,464	$ 11,625	$ (100,832)	$ 7,322	$ 60,484	$ 13,429	$ 11,616	$ (130,575)	(79,421)	(45,046)	31,953
Loss from discontinued operations, net of tax									(99)	(329)	(140)
Net (loss) income									$ (79,520)	$ (45,375)	$ 31,813
Weighted-average number of shares:
Basic (in shares)									30,617	32,141	31,952
Diluted (in shares)									30,617	32,141	32,426
Basic (loss) income per share:
Continuing operations (in dollars per share)	$ 0.08	$ 0.38	$ (3.28)	$ 0.23	$ 1.88	$ 0.42	$ 0.36	$ (4.07)	$ (2.59)	$ (1.40)	$ 1.00
Discontinued operations (in dollars per share)									(0.01)	(0.01)	0.00
Total (in dollars per share)									(2.60)	(1.41)	1.00
Diluted (loss) income per share:
Continuing operations (in dollars per share)	$ 0.08	$ 0.38	$ (3.28)	$ 0.23	$ 1.83	$ 0.41	$ 0.36	$ (4.07)	(2.59)	(1.40)	0.99
Discontinued operations (in dollars per share)									(0.01)	(0.01)	0.00
Total (in dollars per share)									$ (2.60)	$ (1.41)	$ 0.99

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Paid in Capital	Accumulated Deficit
Beginning balance (in shares) at Sep. 30, 2016		33,071
Beginning balance at Sep. 30, 2016	$ 642,853	$ 33	$ 865,290	$ (222,470)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	31,813			31,813
Amortization of nonvested stock awards	8,164		8,164
Exercises of stock options (in shares)		2
Exercises of stock options	24		24
Shares issued under employee stock plans, net (in shares)		536
Shares issued under employee stock plans, net	1	$ 1	0
Forfeiture of restricted stock (in shares)		(61)
Forfeiture of restricted stock	0
Common stock redeemed for tax liability (in shares)		(32)
Common stock redeemed for tax liability	(415)		(415)
Ending balance (in shares) at Sep. 30, 2017		33,516
Ending balance at Sep. 30, 2017	682,440	$ 34	873,063	(190,657)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	(45,375)
Amortization of nonvested stock awards	10,258		10,258
Exercises of stock options (in shares)		8
Exercises of stock options	64		64
Shares issued under employee stock plans, net (in shares)		443
Shares issued under employee stock plans, net	0	$ 0
Forfeiture of restricted stock (in shares)		(216)
Forfeiture of restricted stock	0
Common stock redeemed for tax liability (in shares)		(229)
Common stock redeemed for tax liability	(3,378)		(3,378)
Other activity	18		18
Ending balance (in shares) at Sep. 30, 2018		33,522
Ending balance at Sep. 30, 2018	644,027	$ 34	880,025	(236,032)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	(79,520)
Amortization of nonvested stock awards	10,526		10,526
Exercises of stock options (in shares)		32
Exercises of stock options	314		314
Shares issued under employee stock plans, net (in shares)		917
Forfeiture of restricted stock (in shares)		(68)
Forfeiture of restricted stock	0
Common stock redeemed for tax liability (in shares)		(185)
Common stock redeemed for tax liability	(1,969)		(1,969)
Share repurchases (in shares)		(3,285)
Share repurchases	(34,624)	$ (3)	(34,621)
Ending balance (in shares) at Sep. 30, 2019		30,933
Ending balance at Sep. 30, 2019	$ 538,754	$ 31	$ 854,275	$ (315,552)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net (loss) income	$ (79,520)	$ (45,375)	$ 31,813
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	14,759	13,807	14,009
Stock-based compensation expense	10,526	10,258	8,159
Inventory impairments and abandonments	148,618	6,949	2,445
Deferred and other income tax (benefit) expense	(37,245)	93,935	678
Write-off of deposit on legacy land investment	0	0	2,700
Gain on sale of fixed assets	(232)	(351)	(294)
Change in allowance for doubtful accounts	(74)	48	(24)
Equity in income of unconsolidated entities	(403)	(127)	(401)
Cash distributions of income from unconsolidated entities	408	331	171
Loss on extinguishment of debt, net	24,920	27,839	12,630
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	(1,674)	11,875	16,927
Decrease in income tax receivable	0	88	204
Decrease (increase) in inventory	42,927	(95,809)	41,911
Decrease (increase) in other assets	323	(1,300)	(168)
Increase (decrease) in trade accounts payable	4,720	17,492	(690)
(Decrease) increase in other liabilities	(14,418)	15,178	(25,208)
Net cash provided by operating activities	113,635	54,838	104,862
Cash flows from investing activities:
Capital expenditures	(21,356)	(17,020)	(12,440)
Proceeds from sale of fixed assets	251	370	297
Acquisition, net of cash acquired	(4,088)	(57,253)	0
Investments in unconsolidated entities	0	(421)	(3,261)
Return of capital from unconsolidated entities and marketable securities	68	176	1,621
Net cash used in investing activities	(25,125)	(74,148)	(13,783)
Cash flows from financing activities:
Repayment of debt	(576,548)	(522,465)	(274,436)
Proceeds from issuance of new debt	500,000	400,000	250,000
Repayment of borrowings from credit facility	(425,000)	(225,000)	(25,000)
Borrowings from credit facility	425,000	225,000	25,000
Debt issuance costs	(6,137)	(6,272)	(4,919)
Repurchase of common stock	(34,624)	0	0
Tax payments for stock-based compensation awards	(1,969)	(3,378)	(415)
Stock option exercises	314	64	24
Net cash used in financing activities	(118,964)	(132,051)	(29,746)
(Decrease) increase in cash, cash equivalents, and restricted cash	(30,454)	(151,361)	61,333
Cash, cash equivalents, and restricted cash at beginning of period	153,248	304,609	243,276
Cash, cash equivalents, and restricted cash at end of period	$ 122,794	$ 153,248	$ 304,609

Description of Business	12 Months Ended
Description of Business	Sep. 30, 2019
Description of Business [Abstract]
Description of Business	Description of Business Beazer Homes USA, Inc. (“we,” “us,” “our,” “Beazer,” “Beazer Homes” and the “Company”) is a geographically diversified homebuilder with active operations in 13 states within three geographic regions in the United States: the West, East and Southeast. Our homes are designed to appeal to homeowners at different price points across various demographic segments, and are generally offered for sale in advance of their construction. Our objective is to provide our customers with homes that incorporate extraordinary value and quality, while seeking to maximize our return on invested capital over the course of a housing cycle.

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation and Consolidation

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), and present the consolidated financial position, income, stockholders' equity, and cash flows of Beazer Homes USA, Inc. and its consolidated subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. Our net (loss) income is equivalent to our comprehensive (loss) income, so we have not presented a separate statement of comprehensive loss (income).

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 consolidated statements of operations for all periods presented (see Note 20 for a further discussion of our discontinued operations).

Our fiscal year 2019 began on October 1, 2018 and ended on September 30, 2019. Our fiscal year 2018 began on October 1, 2017 and ended on September 30, 2018. Our fiscal year 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 consolidated financial statements and accompanying notes. Accordingly, actual results could differ from these estimates.

Business Combinations

The Company accounts for acquisitions in accordance with ASC 805, Business Combinations, by allocating the purchase price of the business to assets acquired and liabilities assumed based upon management's estimates of fair values as of the acquisition date. Any excess purchase price over the estimated fair value of net assets acquired is recorded as goodwill, which is assigned to applicable reporting units based on expected revenues. The fair value estimation process includes analyses based on income and market approaches. Significant judgment is often required in estimating the fair value of assets acquired, particularly inventory and intangible assets. These estimates and assumptions are based on historical experience, information obtained from the management of the acquired companies, and the Company’s judgment about the significant assumptions that market participants would use when determining fair value. The estimates and assumptions are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill, are recorded in the reporting period in which the adjustment amounts are determined. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in our results of operations in the reporting period such adjustments are made.

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 a purchase price of $61.3 million, net of cash acquired. The acquired assets consisted of more than 1,100 total owned or controlled lots within 27 single-family communities in the greater Atlanta metropolitan area. The acquired lots included a backlog of 48 homes and 6 model homes. The acquired assets and liabilities were recorded at their estimated fair values and resulted in inventory of $55.2 million and goodwill of $11.4 million, and other assets of $0.4 million as well as accounts payable of $5.5 million and other liabilities of $0.2 million.

Cash and Cash Equivalents and Restricted Cash

We consider highly liquid investments with maturities of three months or less when acquired to be cash equivalents. As of September 30, 2019, the majority of our cash and cash equivalents were on demand deposits with major banks. These assets were valued at par and had no withdrawal restrictions. Restricted cash includes cash restricted by state law or a contractual requirement, including cash collateral for our outstanding cash-secured letters of credit (refer to Note 8).

Accounts Receivable and Allowance

Accounts receivable include escrow deposits to be received from title companies associated with closed homes, receivables from municipalities related to the development of utilities or other infrastructure, insurance recovery receivables, rebates to be received from our suppliers and other miscellaneous receivables. Generally, we receive cash from title companies within a few days of the home being closed. We regularly review our receivable balances for collectiblity and record an allowance against any receivable for which collectiblity is deemed to be uncertain.

Inventory

Owned inventory consists solely of residential real estate developments. Inventory includes land acquisition costs, land development costs, home construction costs, capitalized interest, real estate taxes, direct overhead costs and capitalized indirect costs incurred during land development and home construction, and common costs that benefit the entire community, less impairments, if any. Land acquisition, land development and other common costs (both incurred and estimated to be incurred) are allocated to individual lots on a pro-rata basis, and the cost of individual lots is transferred to homes under construction when home construction begins. Home construction costs are accumulated on a per-home basis. Cost of home closings includes the specific construction costs of the home and the allocated lot costs. Any changes to the estimated total development costs of a community or phase are allocated to the remaining homes to be closed in the community or phase.

Land not owned under option agreements, if outstanding, represents the value of land under option agreements with a variable interest entity (VIE) where the Company is deemed to be the primary beneficiary of the VIE. VIEs are entities in which (1) equity investors do not have a controlling financial interest and/or (2) the entity is unable to finance its activities without additional subordinated financial support from other parties (refer to section below entitled “Land Not Owned Under Option Agreements” for a further discussion of VIEs). In addition, when our deposits and pre-acquisition development costs exceed certain thresholds, we record the remaining purchase price of the lots as consolidated inventory not owned and obligations related to consolidated inventory not owned on our consolidated balance sheets. Refer to Note 5 for a further discussion and detail of our inventory balance.

Inventory Valuation - Projects in Progress

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 home construction costs, direct overhead costs, capitalized indirect costs, capitalized interest, real estate taxes and allocated lot costs) unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. We assess these assets no less than quarterly for recoverability. Generally, upon the commencement of land development activities, it may take three to five years (depending on, among other things, the size of the community and its sales pace) to fully develop, sell, construct and close all the homes in a typical community. Recoverability of assets is measured by comparing the carrying amount of an asset to future undiscounted cash flows expected to be generated by the asset. If the expected undiscounted cash flows generated are less than its carrying amount, an impairment charge is recorded to write down the carrying amount of such asset to its estimated fair value based on discounted cash flows.

When conducting our community level review for the recoverability of our homebuilding inventory related to projects in progress, we establish a quarterly “watch list” of communities that carry profit margins in backlog or in our forecast that are below a minimum threshold of profitability, as well as recent closings that have gross margins less than a specified threshold. In our experience, this threshold represents a level of profitability that may be an indicator of conditions that would require further asset recoverability assessment. Each identified 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 profit margins below our watch list threshold. For communities where the current competitive and market dynamics indicate that these factors may be other than temporary, which may call into question the recoverability of our investment, a formal impairment analysis is performed. The formal impairment analysis consists of both qualitative competitive market analyses and a quantitative analysis reflecting market and asset specific information.

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

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

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

If the aggregate undiscounted cash flows from our quantitative analyses are in excess of the carrying value, the asset is considered to be recoverable and is not impaired. If the aggregate undiscounted cash flows are less than the carrying value, we perform a discounted cash flow analysis to determine the fair value of the community. The fair value of the community is estimated based on the present value of the estimated future cash flows using discount rates commensurate with the risk associated with the underlying community assets. The discount rate used may be different for each community. The factors considered when determining an appropriate discount rate for a community include, among others: (1) community specific factors such as the number of lots in the community, the status of land development in the community and the competitive factors influencing the sales performance of the community and (2) overall market factors such as employment levels, consumer confidence and the existing supply of new and used homes for sale. If the determined fair value is less than the carrying value of the specific asset, the asset is considered not recoverable and is written down to its fair value. The carrying value of assets in communities that were previously impaired and continue to be classified as projects in progress is not increased for future estimates of increases in fair value in future reporting periods. However, 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.

Asset Valuation - Land Held for Future Development

For those communities that have been idled (land held for future development), all applicable carrying costs, such as 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, such as the future enactment of a development plan or the occurrence of outside events. We evaluate the potential plans for each community in land held for future development if changes in facts and circumstances occur that would give rise to a more detailed analysis for a change in the status of a community.

Asset Valuation - Land Held for Sale

We record assets held for sale at the lower of the asset's carrying value or fair value less costs to sell. The following criteria are used to determine if land is held for sale:

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

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

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

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

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

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

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

In determining the fair value of the assets less cost to sell, we consider factors including current sales prices for comparable assets in the area, recent market analysis studies, appraisals, any recent legitimate offers and listing prices of similar properties. If the estimated fair value less cost to sell of an asset is less than its current carrying value, the asset is written down to its estimated fair value less cost to sell.

Land Not Owned Under Option Agreements

In addition to purchasing land directly, we utilize lot option agreements that 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 at a specified price. Purchase of the properties under these agreements is contingent upon satisfaction of certain requirements by us and the sellers. Under lot option contracts, our liability is generally limited to forfeiture of the non-refundable deposits, letters of credit and other non-refundable amounts incurred. If the Company cancels a lot option agreement, it would result in a write-off of the related deposits and pre-acquisition costs, but would not expose the Company to the overall risks or losses of the applicable entity we are purchasing from.

In accordance with GAAP, if the entity holding the land under option is a VIE, the Company's deposit represents a variable interest in that entity. To determine whether we are the primary beneficiary of the VIE, we are first required to evaluate whether we have the ability to control the activities of the VIE that most significantly impact its economic performance. Such activities include, but are not limited to, (1) the ability to determine the budget and scope of land development work, if any; (2) the ability to control financing decisions for the VIE; (3) the ability to acquire additional land into the VIE or dispose of land in the VIE not under contract with Beazer; and (4) the ability to change or amend the existing option contract with the VIE. If we are not determined to control such activities, we are not considered the primary beneficiary of the VIE and thus do not consolidate the VIE. If we do have the ability to control such activities, we will continue our analysis by determining if we are expected to absorb a potentially significant amount of the VIE's losses or, if no party absorbs the majority of such losses, if we will benefit from potentially a significant amount of the VIE's expected gains.

If we are the primary beneficiary of the VIE, we will consolidate the VIE even though creditors of the VIE have no recourse against the Company. For those we consolidate, we record the remaining contractual purchase price under the applicable lot option agreement, net of cash deposits already paid, to land not owned under option agreements with an offsetting increase to obligations related to land not owned under option agreements on our consolidated balance sheets. Also, to reflect the total purchase price of this inventory on a consolidated basis, we present the related option deposits as land not owned under option agreement. Consolidation of these VIEs has no impact on the Company’s statements of operations or cash flows.

Investments in Unconsolidated Entities

We participate in a number of joint ventures and other investments in which we have less than a controlling interest. We enter into the majority of these investments with land developers, other homebuilders and financial partners to acquire attractive land positions, to manage our risk profile and to leverage our capital base. The land positions are developed into finished lots for sale to the unconsolidated entity’s members or other third parties. We recognize our share of equity in income (loss) and profits (losses) from the sale of lots to other buyers. Our share of profits from lots we purchase from the unconsolidated entities is deferred and treated as a reduction of the cost of the land purchased from the unconsolidated entity. Such profits are subsequently recognized at the time the home closes and title passes to the homebuyer. We evaluate our investments in unconsolidated entities for impairment during each reporting period. A series of operating losses of an investee or other factors may indicate that a decrease in the value of our investment in the unconsolidated entity has occurred that is other-than-temporary. The amount of impairment recognized is the excess of the investment’s carrying value over its estimated fair value. Our unconsolidated entities typically obtain secured acquisition, development and construction financing. We account for our interest in unconsolidated entities under the equity method. For additional discussion of these entities, refer to Note 4.

Property and Equipment, Net

Our property and equipment is recorded at cost, net of accumulated depreciation. Depreciation is computed on a straight-line basis based on estimated useful lives as follows:



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

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the identifiable net assets from the businesses that we acquire. The Company's entire goodwill balance as of September 30, 2019 and 2018 is related to the Venture Homes acquisition that occurred during fiscal 2018. The Company evaluates goodwill for impairment at the reporting unit level annually or more often if indicators of impairment exist.

The Company has the option to perform a qualitative assessment to determine whether further impairment testing is necessary or to perform a quantitative assessment to determine whether the fair value of a reporting unit exceeds its carrying value. In January 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (ASU 2017-04), which eliminates Step 2 from the goodwill impairment test. The Company elected to early adopt ASU 2017-04 using the required prospective approach and apply a one-step quantitative test. The combination of the income approach, utilizing the discounted cash flow method, and the market approach, utilizing readily available market valuation multiples, is used to estimate the fair value of the reporting unit. If through a quantitative analysis the Company concludes that the fair value of the reporting unit is less than its carrying value, an impairment will be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company performed its annual goodwill impairment analysis during the fourth quarter of 2019 and determined that the fair value of the reporting unit exceeds its carrying amount. As such, no impairment was recorded.

Determining the fair value of a reporting unit under the quantitative goodwill impairment test requires the Company to make estimates and assumptions regarding future operating results, cash flows (including timing), discount rates, expected growth rates, capital expenditures and cost of capital, similar to those a market participant would use to assess fair value. We also make certain assumptions about future economic conditions and other data. Many of the factors used in assessing fair value are outside the control of management, and these assumptions and estimates may change in future periods.

Other Assets

Our other assets principally include prepaid expenses and assets related to our deferred compensation plan (refer to Note 15 for a discussion of our deferred compensation plan).

Other Liabilities

Our other liabilities principally include accrued warranty expense, accrued interest on our outstanding borrowings, customer deposits, income tax liabilities and other accruals related to our operations. Refer to Note 12 for a detail of our other liabilities.

Income Taxes

Our provision for income taxes is comprised of taxes that are currently payable and deferred taxes that relate to temporary differences between financial reporting carrying values and tax bases of assets and liabilities. Deferred tax assets and liabilities result from deductible or taxable amounts in future years when such assets and liabilities are recovered or settled, and are measured using the enacted tax rates and laws that are expected to be in effect when the assets and liabilities are recovered or settled. We include any estimated interest and penalties on tax related matters in income taxes payable. We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition of measurement are recorded in the period in which the change in judgment occurs. We record interest and penalties related to unrecognized tax benefits in income tax expense. For a discussion of our evaluation of and accounting for valuation allowances, refer to Note 13.

Our income tax receivable includes the refundable portion of our alternative minimum tax credit. The alternative minimum tax credit became a refundable credit when the alternative minimum tax was eliminated with the enactment of the Tax Cuts and Jobs Act on December 22, 2017. We will make claims for half of our remaining balance on each of our next three tax returns beginning with our fiscal 2019, until all remaining credits are refunded in the fourth year.

Revenue Recognition

We recognize revenue upon the transfer of promised goods to our customers in an amount that reflects the consideration to which we expect to be entitled by applying the following five-step process specified in Accounting Standards Codification Topic 606.


•	Identify the contract(s) with a customer


•	Identify the performance obligations


•	Determine the transaction price


•	Allocate the transaction price


•	Recognize revenue when the performance obligations are met



	Fiscal Year Ended
	September 30,
in thousands	2019		2018		2017
Homebuilding revenue	$	2,077,245	$	2,077,360	$	1,895,855
Land sales and other revenue	10,494		29,773		20,423
Total revenue ^(a)	$	2,087,739	$	2,107,133	$	1,916,278

^(a) Please see Note 18 for total revenue disaggregated by reportable segment.

Homebuilding revenue

Homebuilding revenue is reported net of any discounts and incentives and is generally recognized when title to and possession of the home are transferred to the buyer at the closing date. The performance obligation to deliver the home is generally satisfied in less than one year from the original contract date. Home sale contract assets consist of cash from home closings held in escrow for our benefit, typically for less than five days, and are considered deposits in-transit and classified as cash. Contract liabilities include customer deposits related to sold but undelivered homes and totaled $11.5 million and $14.9 million as of September 30, 2019 and September 30, 2018, respectively. Of the customer liabilities outstanding as of September 30, 2018, $13.5 million was recognized in revenue during the year ended September 30, 2019, upon closing of the related homes, and $1.3 million was refunded to or forfeited by the buyer. The remaining balance of $0.1 million remains included within customer deposits as of September 30, 2019.

Land sales and other revenue

Land sales revenue relates to land that does not fit within our homebuilding programs and strategic plans. Land sales typically require cash consideration on the closing date, which is generally when performance obligations are satisfied. In some periods, we also have other revenue related to broker fees as well as fees received for general contractor services that we perform on behalf of third parties. Revenue for broker and general contractor services are typically immaterial and are generally recognized as performance obligations are satisfied.

Home Construction Expenses

Home construction expenses includes the specific construction costs of the home and the allocated lot costs (land acquisition, land development and other common costs are allocated to individual lots on a pro-rata basis based on the number of lots remaining to close). All home closing costs are charged to home construction expenses in the period when the revenues from home closing are recognized.

Sales discounts and incentives include cash discounts, discounts on home building options, option upgrades and seller-paid financing or closing costs. Cash discounts are accounted for as a reduction in the sale price of the home, thereby decreasing the amount of revenue we recognize on that closing. All sales incentives other than cash discounts are recognized as a cost of selling the home and are included in home construction expenses.

Estimated future warranty costs are charged to home construction expense in the period when the revenues from home closings are recognized. Such estimated warranty costs generally range from 0.3% to 1.3% of total revenue recognized for each home closed. Additional warranty costs are charged to home construction expenses as necessary based on management's estimate of the costs to remediate existing claims. See Note 9 for a more detailed discussion of warranty costs and related reserves.

Advertising Costs

Advertising costs related to continuing operations of $17.9 million, $17.6 million, and $17.5 million for our fiscal years 2019, 2018 and 2017, respectively, were expensed as incurred and were included in general and administrative (G&A) expenses.

Fair Value Measurements

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 are 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 may not be recovered (level 3). For example, we review our long-lived assets, including inventory, for recoverability when factors indicate an impairment may exist, but no less than quarterly. Fair value is based on estimated cash flows discounted for market risks associated with the long-lived assets. The fair value of certain of our financial instruments approximates their carrying amounts due to the short maturity of these assets and liabilities or the variable interest rates on such obligations. The fair value of our publicly-held debt is generally estimated based on quoted bid prices for these instruments (level 2). Certain of our other financial instruments are estimated by discounting scheduled cash flows through maturity or using market rates currently being offered on loans with similar terms and credit quality. 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. See Note 10 for additional discussion of our fair value measurements.

Stock-Based Compensation

We use the Black-Scholes model to value our stock option grants. Other stock-based awards with only performance conditions granted to employees are valued based on the market price of the common stock on the date of the grant. Stock-based awards with market conditions granted to employees are valued using the Monte Carlo valuation method. Any portion of our stock-based awards that can be settled in cash is initially valued based on the market price of the underlying common stock on the date of the grant, and is adjusted to fair value until vested and recorded as a liability on our consolidated balance sheets. On the date of grant, we estimate forfeitures in calculating the expense related to stock-based compensation. In addition, we reflect the benefits of tax deductions in excess of recognized compensation cost as an operating cash outflow. Compensation cost arising from all stock-based compensation awards is recognized as expense using the straight-line method over the vesting period and is included in G&A in our consolidated statements of operations. See Note 16 for additional discussion of our stock-based compensation.

Recent Accounting Pronouncements

Revenue from Contracts with Customers. On October 1, 2018, we adopted Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers, and ASC 340-40, Other Assets and Deferred Costs - Contracts with Customers, collectively referred to as ASC 606. ASC 606 provides a new model for accounting for revenue arising from contracts with customers that supersedes most revenue recognition guidance. Under the new guidance, entities are required to recognize revenue at an amount that reflects the consideration to which the entity expects to be entitled upon transferring control of goods or services to a customer. As part of our adoption of ASC 606, we applied the modified retrospective method to contracts that were not completed as of October 1, 2018. Further, results for reporting periods beginning on or after October 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported under the previous accounting standards. The adoption of ASC 606 had no impact on opening retained earnings and did not materially affect the amount or timing of our revenue.

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. The guidance within ASU 2016-02 will be effective for the Company's fiscal year beginning October 1, 2019. We have elected to apply the modified retrospective transition approach, so financial information will not be updated, and the disclosures required under the new standard will not be provided for dates and periods before October 1, 2019. We expect that this standard will have an effect on our consolidated balance sheet, but we do not expect any significant change to our consolidated statement of operations or cash flows. Upon adoption, we currently expect to recognize additional lease liabilities of approximately $18.0 million based on the present value of the remaining minimum rental payments for existing leasing arrangements. The corresponding right of use (ROU) assets are expected to be the same amount as the lease liabilities, adjusted for accrued lease payments and remaining balance of lease incentives received. We also do not expect significant changes to our business processes, systems, or internal controls as a result of implementing the standard.

Statement of Cash Flows. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15), which addresses specific classification issues and is intended to reduce diversity in current practice regarding the manner in which certain cash receipts and cash payments are presented and classified in the consolidated statements of cash flows. We adopted ASU 2016-15 on October 1, 2018. We applied the retrospective transition method upon adoption and reclassified $24.6 million and $9.0 million of payments for debt extinguishment costs from operating activities to financing activities within our consolidated statements of cash flows for the years ended September 30, 2018 and September 30, 2017, respectively.

Intangibles - Goodwill and Other. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates Step 2 from the goodwill impairment test. This change will allow an entity to avoid calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination, thus reducing the cost and complexity of evaluating goodwill for impairment. The Company elected to early adopt this amendment using the required prospective approach, effective the fourth quarter of fiscal 2019. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. No impairment was recorded as of September 30, 2019.

Fair Value Measurements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework (ASU 2018-13). The updated guidance improves the disclosure requirements for fair value measurements. The updated guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures. We are currently assessing the impact of adopting the updated provisions.

Internal Use Software. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract (ASU 2018-15). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This new guidance will be effective for public companies for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effect that the new guidance will have on its consolidated financial statements and related disclosures.

Supplemental Cash Flow Information

12 Months Ended

Sep. 30, 2019

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

The following table presents supplemental disclosure of non-cash and cash activity as well as a reconciliation of total cash balances between the consolidated balance sheets and consolidated statements of cash flows for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019		2018		2017
Supplemental disclosure of non-cash activity:
Non-cash land acquisitions ^(a)	$	—	$	—	$	14,651
Supplemental disclosure of cash activity:
Interest payments	$	101,109	$	95,857	$	100,125
Income tax payments	766		607		1,616
Tax refunds received	12		162		351
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	106,741	$	139,805	$	292,147
Restricted cash	16,053		13,443		12,462
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	122,794	$	153,248	$	304,609

^(a)For the fiscal year ended September 30, 2019 and 2018, we did not have any non-cash land acquisitions. For the fiscal year ended September 30, 2017, non-cash land acquisitions were comprised of $6.3 million related to non-cash seller financing and $8.4 million in lot takedowns from one of our unconsolidated land development joint ventures.

Investments in Unconsolidated Entities

12 Months Ended

Sep. 30, 2019

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Entities

Unconsolidated Entities

As of September 30, 2019, 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 these unconsolidated entities as well as the total equity and outstanding borrowings of these unconsolidated entities as of September 30, 2019 and September 30, 2018:



in thousands	September 30, 2019		September 30, 2018
Investment in unconsolidated entities	$	3,962	$	4,035
Total equity of unconsolidated entities	9,969		10,113
Total outstanding borrowings of unconsolidated entities	12,658		12,266

Equity in income from unconsolidated entity activities included in income from continuing operations is as follows for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019		2018			2017
Income from unconsolidated entity activity	$	404	$	375		$	371
Impairment of unconsolidated entity investment	—		(341		)	—
Equity in income of unconsolidated entities	$	404	$	34		$	371

No impairments for unconsolidated entities were recorded during the fiscal years ended September 30, 2019 and September 30, 2017. For the fiscal year ended September 30, 2018, we recorded a $0.3 million impairment charge in the consolidated statements of operations related to an investment in an unconsolidated entity.

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 September 30, 2019 and September 30, 2018, the Company had no outstanding guarantees or other debt-related obligations related to our investments in unconsolidated entities.

The Company 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 our fiscal years ended September 30, 2019 and 2018, the Company was not required to make any payments related to environmental indemnities.

In assessing the need to record a 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 September 30, 2019, no liability was recorded for the contingent aspects of any guarantees that were determined to be reasonably possible but not probable.

Inventory

12 Months Ended

Sep. 30, 2019

Real Estate [Abstract]

Inventory

The components of our owned inventory are as follows as of September 30, 2019 and September 30, 2018:



in thousands	September 30, 2019		September 30, 2018
Homes under construction	$	507,542	$	476,752
Development projects in progress	738,201		907,793
Land held for future development	28,531		83,173
Land held for sale	12,662		7,781
Capitalized interest	136,565		144,645
Model homes	80,747		72,140
Total owned inventory	$	1,504,248	$	1,692,284

Homes under construction include homes in various stages of construction and homes substantially finished and ready for delivery, including the allocated underlying lot costs. We had 238 (with a cost of $82.2 million) and 240 (with a cost of $84.8 million) substantially completed homes that were not subject to a sales contract (spec homes) as of September 30, 2019 and 2018, respectively.

Development projects in progress consist principally of land acquisition, land development and other common costs. These land related costs are allocated to individual lots on a pro-rata basis, and the lot costs are transferred to homes under construction when home construction begins for the respective lots. Certain of the fully developed lots in this category are reserved by a customer deposit or sales contract.

Land held for future development consists of communities for which construction and development activities are expected to occur in the future or have been idled and are stated at cost unless facts and circumstances indicate that the carrying value of the assets may not be recoverable. All applicable interest and real estate taxes on land held for future development are expensed as incurred.

Land held for sale includes land and lots that do not fit within our homebuilding programs and strategic plans in certain markets, and land is classified as held for sale once certain criteria are met (refer to Note 2). These assets are recorded at the lower of the carrying value or fair value less costs to sell.

The amount of interest we are able to capitalize depends on 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 is presented in the table below as of September 30, 2019 and September 30, 2018:



in thousands	Projects in Progress ^(a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
September 30, 2019
West Segment	$	723,094	$	3,483	$	5,160	$	731,737
East Segment	228,937		14,077		4,104		247,118
Southeast Segment	318,737		10,971		3,398		333,106
Corporate and unallocated ^(b)	192,287		—		—		192,287
Total	$	1,463,055	$	28,531	$	12,662	$	1,504,248
September 30, 2018
West Segment	$	763,453	$	58,125	$	—	$	821,578
East Segment	280,761		14,077		4,580		299,418
Southeast Segment	358,126		10,971		3,177		372,274
Corporate and unallocated ^(b)	198,990		—		24		199,014
Total	$	1,601,330	$	83,173	$	7,781	$	1,692,284

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

^(b)Projects in progress amount includes capitalized interest and indirect costs that are maintained within 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 inventory related to projects in progress, we establish a quarterly “watch list” comprised of communities that carry profit margins in backlog or in our forecast that are below a minimum threshold of profitability, as well as recent closings that have gross margins less than a specified 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 additional financial and operational review that considers 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, it may be 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 assets may not be recoverable, a formal impairment analysis is performed. The formal impairment analysis consists of both qualitative considerations and quantitative analyses reflecting market and asset specific information.

As of September 30, 2019, we identified two communities through our watch list process based on the specified threshold, taking into consideration the remaining lots left to close. We performed further evaluation and determined the low profitability levels were temporary in nature. As such, no additional quantitative analysis (cash flow run out) was deemed necessary.

As of September 30, 2018, we identified four communities on our watch list as having potential indicators of impairment. Based on our evaluation performed, we determined it was necessary to subject two of the four communities to additional quantitative analysis. This additional analysis led to an impairment charge of $1.0 million for one of these communities, principally due to a reduction in price taken that is other than temporary based on the competitive and market dynamics.

The table below presents, by reportable segment, details of the impairment charges taken on projects in progress for the periods presented:



$ in thousands	Results of Discounted Cash Flow Analyses Prepared
Segment	# of Communities Impaired	# of Lots Impaired	Impairment Charge		Estimated Fair Value of Impaired Inventory at Time of Impairment
Year Ended September 30, 2019
West	9	839	$	92,912	$	69,449
Southeast	1	15	858		1,367
Corporate and unallocated ^(a)	—	—	16,260		14,166
Total	10	854	$	110,030	$	84,982
Year Ended September 30, 2018
Southeast	1	25	$	793	$	1,312
Corporate and unallocated ^(a)	—	—	212		—
Total	1	25	$	1,005	$	1,312
Year Ended September 30, 2017
West	1	46	$	1,625	$	3,791
Corporate and unallocated ^(a)	—	—	68		—
Total	1	46	$	1,693	$	3,791

^(a) Amount represents the capitalized interest and indirect costs that were impaired. Capitalized interest and indirect costs are maintained within our Corporate and unallocated segment.

Impairments on land held for sale generally represent write downs of these properties to net realizable value and are based on current market conditions and our review of recent comparable transactions. Our assumptions related to land sales prices require significant judgment because the real estate market is highly sensitive to changes in economic conditions, and our estimates of sale prices could differ significantly from actual results.

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

The following table presents, by reportable segment, our total impairment and abandonment charges for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019		2018		2017
Projects in Progress:
West	$	92,912	$	—	$	1,625
Southeast	858		793		—
Corporate and unallocated ^(a)	16,260		212		68
Total impairment charges on projects in progress	$	110,030	$	1,005	$	1,693
Land Held for Sale:
West ^(b)	$	37,963	$	—	$	94
East	—		168		470
Southeast	—		3,218		—
Corporate and unallocated ^(a)	625		2,108		—
Total impairment charges on land held for sale	$	38,588	$	5,494	$	564
Abandonments:
East	$	—	$	—	$	188
Total abandonments charges	$	—	$	—	$	188
Total continuing operations	$	148,618	$	6,499	$	2,445
Discontinued Operations:
Land Held for Sale	$	—	$	450	$	—
Total discontinued operations	$	—	$	450	$	—
Total impairment and abandonment charges	$	148,618	$	6,949	$	2,445

^(a) Amount represents the capitalized interest and indirect costs that were impaired. Capitalized interest and indirect costs are maintained within our Corporate and unallocated segment.

^(b)Land held for sale impairments during the year ended September 30, 2019 related to six communities representing 732 lots in California that were impaired in the second quarter of fiscal 2019. Two of these parcels were sold in the fourth quarter of fiscal 2019 for amounts approximately equal to their carrying costs. While steps to initiate planned sales of our remaining land held for sale assets have been taken, the timing of completion of such asset dispositions is unknown.

Valuation assumptions for communities tested for impairment are specific to each community. For projects in progress impaired during the periods presented, we determined the fair value of each community by discounting its estimated future cash flows at a rate commensurate with the risks inherent in the project. The discount rate used depends on the development stage and expected duration of the project, local market conditions, and other specific factors. The estimated future cash flows for each community were determined based on the expected pace of closings and average sales price of the community less expected costs for land acquisition and land development, direct construction, overhead, and interest. We determined the fair value of land held for sale assets impaired during the periods presented based on sales contracts, letters of intent, and recent comparable land sale transactions, as applicable. The assumptions used in the determination of fair value of both projects in progress and land held for sale communities are based on factors known to us at the time such estimates are made and our expectations of future operations and market conditions. Should the estimates or expectations used in determining estimated fair values deteriorate in the future, we may be required to recognize additional impairment charges and write-offs related to these assets, and such amounts could be material.

The table below presents the ranges or values of significant quantitative unobservable inputs we used in determining the fair value of the communities impaired during the periods presented:



		Fiscal Year Ended September 30,
Unobservable Inputs		2019	2018			2017
Average selling price (in thousands)	$	350 - 615	$	356		$	405
Closings per community per month		1 - 4	1 - 6			1 - 4
Discount rate		14.7% - 16.8%	15.11		%	12.83		%

Lot Option Agreements and Variable Interest Entities (VIE)

As previously discussed, we also have access to land inventory through lot option contracts, which generally enable us to defer acquiring portions of properties owned by third parties and unconsolidated entities until we have determined whether to exercise our lot option. 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 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 September 30, 2019 and September 30, 2018:



in thousands	Deposits & Non-refundable Pre-acquisition Costs Incurred		Remaining Obligation
As of September 30, 2019
Unconsolidated lot option agreements	$	78,202	$	389,705
As of September 30, 2018
Unconsolidated lot option agreements	$	72,191	$	383,150

Interest

12 Months Ended

Sep. 30, 2019

Real Estate Inventory Capitalized Interest Costs [Abstract]

Interest

Interest capitalized during the fiscal years ended September 30, 2019, 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:



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Capitalized interest in inventory, beginning of period	$	144,645		$	139,203		$	138,108
Interest incurred	103,970			103,880			105,551
Capitalized interest impaired	(13,907		)	(1,961		)	(56		)
Interest expense not qualified for capitalization and included as other expense ^(a)	(3,109		)	(5,325		)	(15,636		)
Capitalized interest amortized to home construction and land sales expenses ^(b)	(95,034		)	(91,152		)	(88,764		)
Capitalized interest in inventory, end of period	$	136,565		$	144,645		$	139,203

^(a)The amount of interest capitalized depends on the qualified inventory balance, which considers the status of the Company's inventory holdings. The qualified inventory balance includes the majority of 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 sales expenses varies based on the number of homes closed during the period and land sales, if any, as well as other factors.

Borrowings

12 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Borrowings

The Company's debt, net of premiums, discounts, and unamortized debt issuance costs consisted of the following as of September 30, 2019 and September 30, 2018:



in thousands	Maturity Date	September 30, 2019			September 30, 2018
Senior Unsecured Term Loan (Term Loan)	September 2022	$	150,000		$	—
8 3/4% Senior Notes (2022 Notes)	March 2022	—			500,000
7 1/4% Senior Notes (2023 Notes)	February 2023	—			24,834
6 3/4% Senior Notes (2025 Notes)	March 2025	229,555			250,000
5 7/8% Senior Notes (2027 Notes)	October 2027	394,000			400,000
7 1/4% Senior Notes (2029 Notes)	October 2029	350,000			—
Unamortized debt premium, net		—			2,640
Unamortized debt issuance costs		(12,470		)	(14,336		)
Total Senior Notes, net		1,111,085			1,163,138
Junior Subordinated Notes (net of unamortized accretion of $34,703 and $36,770, respectively)	July 2036	66,070			64,003
Other Secured Notes Payable	Various Dates	1,154			4,113
Total debt, net		$	1,178,309		$	1,231,254

As of September 30, 2019, the future maturities of our borrowings were as follows:



Fiscal Year Ended September 30,
in thousands
2020	$	51,154
2021	50,000
2022	50,000
2023	—
2024	—
Thereafter	1,074,328
Total	$	1,225,482

Secured Revolving Credit Facility

The Secured Revolving Credit Facility (the Facility) provides working capital and letter of credit capacity. In September 2019, the Company executed a Seventh Amendment to the Facility. The Seventh Amendment (1) extends the termination date of the Facility from February 2021 to February 2022; (2) increases the maximum aggregate amount of commitments under the Facility, including borrowings and letters of credit, from $210.0 million to $250.0 million; and (3) increased the after-acquired exclusionary condition (as defined by the underlying Credit Agreement) from $800 million to the product of the aggregate amount of the commitments multiplied by 4. The Facility is currently with four lenders.

The Facility allows us to issue letters of credit against the undrawn capacity. Subject to our option to cash collateralize our obligations under the Facility upon certain conditions, our obligations under the Facility are secured by liens on substantially all of our personal property and a significant portion of our owned real property. We also pledged approximately $936.0 million of inventory assets to the Facility to collateralize potential future borrowings or letters of credit (in addition to the letters of credit already issued under the Facility). As of September 30, 2019, no borrowings and no letters of credit were outstanding under the Facility, resulting in a remaining capacity of $250.0 million. As of September 30, 2018, no borrowings and no letters of credit were outstanding under the Facility, resulting in a remaining capacity of $200.0 million. The Facility contains certain covenants, including negative covenants and financial maintenance covenants, with which we are required to comply. We are currently in compliance with all such covenants.

Senior Unsecured Term Loan

On September 9, 2019, the Company entered into a term loan agreement, which provides for a Senior Unsecured Term Loan (the Term Loan) in an aggregate principal amount of up to $150.0 million. The proceeds from the Term Loan were used to refinance a portion of the Company's 2022 Notes. The Term Loan will (1) mature in September 2022, with $50.0 million annual repayment installments in September 2020 and September 2021; (2) bears interest at a fixed rate of 4.875%; and (3) includes an option to prepay, subject to certain conditions and the payment of certain premiums. The Term Loan contains covenants generally consistent with the covenants contained in the Facility. As of September 30, 2019, we were in compliance with all such covenants.

Letter of Credit Facilities

The Company has entered into stand-alone, cash-secured letter of credit agreements with banks to maintain pre-existing letters of credit and to provide for the issuance of new letters of credit (in addition to the letters of credit issued under the Facility). As of September 30, 2019 and September 30, 2018, the Company had letters of credit outstanding under these additional facilities of $14.1 million and $10.4 million, respectively, all of which were secured by cash collateral in restricted accounts. The Company may enter into additional arrangements to provide additional letter of credit capacity.

In May 2018, the Company entered into a reimbursement agreement, which provides for the issuance of performance letters of credit, and an unsecured credit agreement 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. The Bilateral Facility will terminate on June 10, 2021. As of September 30, 2019, the total stated amount of performance letters of credit issued under the reimbursement agreement was $34.2 million (and the stated amount of the backstop standby letter of credit issued under the credit agreement was $40.0 million). The Company may enter into additional arrangements to provide greater letter of credit capacity.

Senior Notes

The Company's Senior Notes are unsecured obligations ranking pari passu with all other existing and future senior indebtedness. Substantially all of the Company's 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 19 for further information.

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

The Company's Senior Notes are issued under indentures that contain certain restrictive covenants which, among other things, restrict our ability to pay dividends, repurchase our common stock, incur certain types of additional indebtedness, and make certain investments. Compliance with the Senior Note covenants does not significantly impact the Company's operations. The Company is in compliance with the covenants contained in the indentures of all of its Senior Notes as of September 30, 2019.

In September 2019, we issued and sold $350.0 million aggregate principal amount of the 2029 Notes at par (before underwriting and other issuance costs) through a private placement to qualified institutional buyers. Interest on the 2029 Notes is payable semi-annually, beginning in April 2020. The 2029 Notes will mature in October 2029. We may redeem the 2029 Notes at any time prior to October 15, 2024, 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. The covenants related to the 2029 Notes are consistent with our other senior notes.

In September 2019, we redeemed our outstanding 2022 Notes of $500.0 million using proceeds from the Term Loan, the issuance of the 2029 Notes, and cash on hand, resulting in a loss on extinguishment of debt of $25.2 million, which was net of a $1.9 million non-cash write-off of debt issuance and discount costs. As a result, the Company terminated, cancelled, and discharged all of its obligations under the 2022 Notes.

During the three months ended September 30, 2019, we also redeemed $6.0 million of the 2027 Notes and the remaining outstanding balance of the 2023 Notes of $23.7 million using cash on hand, resulting in a loss on extinguishment of debt of $0.3 million, which is net of a $0.2 million non-cash write-off of debt issuance costs. As a result, the Company terminated, cancelled, and discharged all of its obligations under the 2023 Notes.

During the first nine months of fiscal 2019, we redeemed $1.2 million and $20.4 million of the 2023 Notes and the 2025 Notes, respectively. The retirements resulted in an aggregate gain on extinguishment of debt of $0.6 million, which was net of a $0.3 million non-cash write-off of debt issuance costs for the year ended September 30, 2019.

For the fiscal year ended September 30, 2019, the retirement of various unsecured senior notes discussed above resulted in an aggregate loss on extinguishment of debt of $24.9 million, which was net of a $2.4 million non-cash write-off of debt issuance and discount costs.

For the fiscal year ended September 30, 2018, we completed the following transactions with respect to our unsecured Senior Notes.

In October 2017, we issued and sold $400.0 million aggregate principal amount of 2027 Notes at par (before underwriting and other issuance costs) through a private placement to qualified institutional buyers. 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. The covenants related to the 2027 Notes are consistent with our other senior notes.

During the first quarter of fiscal 2018, we used the proceeds of the 2027 Notes, as well as $34.5 million cash on hand, to redeem $225.0 million of our 2019 Notes and $175.0 million of our 2023 Notes then outstanding, resulting in a loss on extinguishment of debt of $25.9 million, of which $3.2 million was a non-cash write-off of debt issuance and discount costs.

In September 2018, we redeemed our then outstanding 2019 Notes for $98.2 million using cash on hand, resulting in a loss on extinguishment of debt of $1.9 million, of which $0.1 million was a non-cash write-off of debt issuance and discount costs. As a result, the Company terminated, cancelled, and discharged all of its obligations under the 2019 Notes. The retirement of the 2019 and 2023 Notes in fiscal 2018 resulted in an aggregate loss on extinguishment of debt of $27.8 million for the year ended September 30, 2018.

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
6 3/4% Senior Notes	March 2017	March 2025	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.
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 100.000% 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	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.
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 100.000% 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
7 1/4% Senior Notes	September 2019	October 2029	On or prior to October 15, 2022, we may redeem up to 35% of the aggregate principal amount of the 2029 Notes with the net cash proceeds of certain equity offerings at a redemption price equal to 107.250% 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 2029 Notes originally issued remains outstanding immediately after such redemption.
7 1/4% Senior Notes	September 2019	October 2029	Callable at any time prior to October 15, 2024, 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, 2024, callable at a redemption price equal to 103.625% of the principal amount; on or after October 15, 2025, callable at a redemption price equal to 102.417% of the principal amount; on or after October 15, 2026, callable at a redemption price equal to 101.208% of the principal amount; on or after October 15, 2027, callable at a redemption price equal to 100.000% of the principal amount, plus, in each case, accrued and unpaid interest

Junior Subordinated Notes

The Company's 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 4.72% as of September 30, 2019. The obligations relating to these notes are subordinated to the Facility and the Senior Notes. In January 2010, the Company 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 September 30, 2019, the unamortized accretion was $34.7 million and will be amortized over the remaining life of the notes. As of September 30, 2019, the Company was in compliance with all covenants under the Junior Subordinated Notes.

Other Secured Notes Payable

The Company periodically acquires land through the issuance of notes payable. As of September 30, 2019 and September 30, 2018, the Company had outstanding notes payable of $1.2 million and $4.1 million, respectively, primarily related to land acquisitions. These secured notes payable have varying expiration dates in fiscal 2020, have a weighted-average fixed interest rate of 6.00% as of September 30, 2019 and are secured by the real estate to which they relate.

The agreements governing these other secured notes payable contain various affirmative and negative covenants. There can be no assurance that the Company 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

12 Months Ended

Sep. 30, 2019

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 alleged 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 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 who 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 the consolidated statements of operations. 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 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 reserve.

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



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Balance at beginning of period	$	15,331		$	18,091		$	39,131
Accruals for warranties issued ^(a)	11,847			13,755			14,215
Changes in liability related to warranties existing in prior periods ^(b)	(1,686		)	(2,401		)	4,807
Payments made ^(b)	(12,104		)	(14,114		)	(40,062		)
Balance at end of period	$	13,388		$	15,331		$	18,091

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

^(b) Changes in liability related to warranties existing and payments made in all periods are elevated in 2017 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 our fiscal 2014, we began to experience an increase in calls from homeowners reporting stucco and water intrusion issues in certain of our communities in Florida (the Florida stucco issues). Through September 30, 2019, we cumulatively recorded charges related to these issues of $82.4 million.

Warranty reserves related to the Florida stucco issues decreased during the current fiscal year by $0.7 million and decreased by $0.6 million in the prior year. As of September 30, 2019, 707 homes have been identified as likely to require repairs, of which 686 homes have been repaired. We made payments related to the Florida stucco issues of $0.5 million during the current fiscal year. This amount included payments on fully repaired homes and homes for which remediation is not yet complete, bringing the remaining accrual related to this issue to $0.5 million as of September 30, 2019 compared to $1.7 million as of September 30, 2018. These accruals are included in the overall warranty liabilities detailed above.

Our assessment of the Florida stucco issues is ongoing. As a result, we anticipate that the ultimate magnitude of our liability may change as additional information is obtained. Certain visual and other inspections of the homes that could be subject to defect often do not reveal the severity or extent of the defects, which can only be discovered once we receive a homeowner call and begin repairs. The current fiscal year charges were impacted by additional insurance recoveries; for a discussion of the amounts we have already recovered or anticipate recovering from our insurers, refer to the “Insurance Recoveries” section below.

In addition, we believe that we will also recover a portion of such repair costs from sources other than our own insurer, including the subcontractors involved with the construction of these homes and their insurers; however, no amounts related to subcontractor recoveries have been recorded in our consolidated financial statements as of September 30, 2019. Any amounts recovered from our subcontractors related to homes closed during policy years for which we have exceeded the deductible in our insurance policies would be remitted to our insurers, while recoveries in other policy years would be retained by us.

Insurance Recoveries

The Company has insurance policies that provide for the reimbursement of certain warranty costs incurred above a specified threshold for each period covered. We have surpassed these thresholds for certain policy years, particularly those that cover most of the homes impacted by the water intrusion issues discussed above. As such, beginning with the first quarter of fiscal 2015, we expect a substantial majority of additional costs for warranty work on homes within these policy years to be reimbursed by our insurers. For two policy years, our exposure has exceeded the insurance claim limit for one division under our first layer of coverage; however, we are claiming and recovering additional amounts under our excess insurance coverage.

Warranty expense beyond the thresholds set in our insurance policies was recorded related to homes impacted by the Florida stucco issues as well as other various warranty issues that are in excess of our insurance thresholds. We adjust our insurance receivable balance each quarter to reflect our estimate of future costs to be incurred subject to recoveries from insurers. Insurance receivables decreased by $0.4 million during fiscal 2019 and decreased by $0.2 million in fiscal 2018 to reflect the amounts deemed probable of receiving. The changes to our insurance receivables offset the current fiscal year movements in our reserve related to the Florida stucco issues.

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

Amounts still to be recovered under our insurance policies will vary based on whether expected additional warranty costs are actually incurred for periods for which our threshold has already been met. As a result, we anticipate the balance of our established receivable for insurance recoveries to fluctuate for potential future reimbursements as well as the amounts ultimately owed to us from our insurer.

Litigation

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.

Claims Related to Inventory Impairment Charges. During the quarter ended March 31, 2019, we recognized inventory impairment charges related to 15 communities in California, all of which were previously land held for future development assets. Related to these inventory impairment charges, on June 5, 2019, a putative class action lawsuit was filed against Beazer Homes USA, Inc. and certain of our officers in the U.S. District Court for the Southern District of New York. The proposed class consisted of all persons and entities that acquired our securities between August 1, 2014 and May 2, 2019. On October 18, 2019, the plaintiffs filed a notice of voluntary dismissal of this case, and the Court subsequently entered an order dismissing the case.

Beginning June 25, 2019, several shareholder derivative lawsuits relating to the same inventory impairment charges discussed above were filed against Beazer Homes USA, Inc., certain of our officers and members of our Board of Directors in the U.S. District Court for the Northern District of Georgia. The plaintiffs in these cases allege breaches of fiduciary duty, unjust enrichment and violations of the federal securities laws. The plaintiffs seek, among other things, monetary damages, disgorgement of profits and attorneys’ and experts’ fees, but do not specify any specific amounts. We believe the allegations are without merit and intend to vigorously defend against the claims. However, because the outcome of these legal proceedings cannot be predicted with certainty, we have determined that the amount of any possible losses or range of possible losses in connection with these matters is not reasonably estimable.

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 $3.4 million and $3.7 million in other liabilities on our consolidated balance sheets related to litigation and other matters, excluding warranty, as of September 30, 2019 and 2018, respectively.

We had outstanding letters of credit and performance bonds of approximately $48.3 million and $276.5 million, respectively, as of September 30, 2019, related principally to our obligations to local governments to construct roads and other improvements in various developments.

Fair Value Measurements

12 Months Ended

Sep. 30, 2019

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 on assets deemed to be impaired is determined based upon the type of asset being evaluated. Fair value of our owned inventory assets, when required to be calculated, is further 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.

During the fiscal year ended September 30, 2019, we recognized impairments of $110.0 million on projects in process and $38.6 million on land held for sale. During the fiscal year ended September 30, 2018, we recognized impairments of $1.0 million on projects in process and $5.9 million on land held for sale. During the fiscal year ended September 30, 2017, we recognized impairments of $1.7 million on projects in process and $0.6 million on land held for sale.

Determining within which hierarchical level an asset or liability falls 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 September 30, 2019
Deferred compensation plan assets ^(a)	$	—	$	1,970	$	—		$	1,970
Development projects in progress^(b)	—		—		84,982		^(c)	84,982
Land held for sale ^(b)	—		—		5,207		^(c)	5,207
As of September 30, 2018
Deferred compensation plan assets ^(a)	$	—	$	1,578	$	—		$	1,578
Development projects in progress ^(b)	—		—		1,312		^(c)	1,312
Land held for sale ^(b)	—		—		1,724		^(c)	1,724
Unconsolidated entity investments ^(b)	—		—		80			80
As of September 30, 2017
Deferred compensation plan assets ^(a)	$	—	$	1,114	$	—		$	1,114
Development projects in progress ^(b)	—		—		3,791		^(c)	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, including the capitalized interest and indirect costs related to the asset.

^(c)Amount represents the impairment-date fair value of the development projects in progress and land held for sale assets that were impaired during the periods indicated.

The fair value of 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 other financial liabilities as of September 30, 2019 and September 30, 2018:



	As of September 30, 2019				As of September 30, 2018
in thousands	Carrying Amount ^(a)		Fair Value		Carrying Amount ^(a)		Fair Value
Senior Notes ^(b)	$	1,111,085	$	1,115,011	$	1,163,138	$	1,096,214
Junior Subordinated Notes ^(c)	66,070		66,070		64,003		64,003
Total	$	1,177,155	$	1,181,081	$	1,227,141	$	1,160,217

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

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

^(c)Since there is no trading market for our Junior Subordinated Notes, the fair value of these notes is estimated by discounting scheduled cash flows through maturity (level 3). The discount rate is estimated using market rates currently being offered on loans with similar terms and credit quality. Judgment is required in interpreting market data to develop these estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that we could realize in a current market exchange.

- Definition

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

+ References + Details

Income Taxes

12 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

The Company's (benefit) expense from income taxes from continuing operations consists of the following for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Current federal ^(a)	$	(4,935	)	$	57		$	—
Current state	693			512			859
Deferred federal ^(b)	(31,291		)	102,082			1,625
Deferred state ^(c)	(1,684		)	(8,167		)	212
Total (benefit) / expense	$	(37,217	)	$	94,484		$	2,696

^(a) Fiscal 2019 federal current benefit is primarily driven by the expected refund of half of our outstanding minimum tax credit balance as discussed below.

^(b) Fiscal 2018 federal deferred expense is primarily driven by the remeasurement of our deferred tax asset at the newly enacted 21.0% federal tax rate, partially offset by the release of the remaining valuation allowance on our federal deferred tax assets.

^(c)Fiscal 2018 state deferred benefit is primarily driven by the release of valuation allowance in certain operating jurisdictions; refer to discussion below titled “Valuation Allowance.”

The (benefit) expense from income taxes from continuing operations differs from the amount computed by applying the federal income tax statutory rate as follows for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Income tax computed at statutory rate	$	(24,494	)	$	12,112		$	12,052
State income taxes, net of federal benefit	(590		)	111			1,287
Deferred rate change	(88		)	110,071			—
Decrease in valuation allowance - other ^{(a) (b)}	—			(27,370		)	(3,482		)
Changes in uncertain tax positions	(7		)	598			(685		)
Stock based compensation	—			—			741
Permanent differences	2,908			2,133			496
Tax credits	(14,902		)	(3,174		)	(7,460		)
Other, net	(44		)	3			(253		)
Total (benefit) / expense	$	(37,217	)	$	94,484		$	2,696

^(a)For fiscal 2018, amount includes a $27.4 million release of the valuation allowance on our federal and state deferred tax assets; refer to discussion below titled “Valuation Allowance.” Due to our fiscal year end, our fiscal provision was calculated using a blended 24.5% federal tax rate. The increase in permanent differences in fiscal 2018 compared to the prior fiscal year was largely driven by the limits on deductibility for executive compensation for current year incentive awards and anticipated limitations on unvested stock awards due to the enactment of the Tax Cuts and Jobs Act.

^(b)For fiscal 2017, amount includes $3.5 million release of the valuation allowance on our state deferred tax assets due to a number of changes to the legal forms of our operating entities; refer to discussion below titled “Valuation Allowance.”

The principal differences between our effective tax rate and the U.S. federal statutory rate for fiscal 2019 relate to state taxes, permanent differences and tax credits.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of our assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of significant temporary differences that give rise to the net deferred tax assets are as follows as of September 30, 2019 and September 30, 2018:



in thousands	September 30, 2019			September 30, 2018
Deferred tax assets:
Federal and state tax carryforwards	$	208,360		$	196,702
Inventory adjustments	42,605			29,565
Intangible assets	17,209			192
Incentive compensation	9,360			11,959
Warranty and other reserves	4,302			6,350
Property, equipment and other assets	2,255			2,123
Uncertain tax positions	729			734
Other	623			542
Total deferred tax assets	285,443			248,167
Valuation allowance	(38,486		)	(34,212		)
Net deferred tax assets	$	246,957		$	213,955

As of September 30, 2019, our gross deferred tax assets above included $132.2 million for federal net operating loss carryforwards, $42.3 million for state net operating loss carryforwards, $4.6 million for an alternative minimum tax credit and $32.7 million for general business credits. The net operating loss carryforwards expire at various dates through 2033, and the general business credits expire at various dates through 2038. The alternative minimum tax credit became a refundable credit when the alternative minimum tax was eliminated with the enactment of the Tax Cuts and Jobs Act on December 22, 2017. We will make claims for half of our remaining balance on each of our next three tax returns beginning with our fiscal 2019, until all remaining credits are refunded in the fourth year. For fiscal 2019, the $4.6 million refundable portion of our alternative minimum tax credit was recorded in our income tax receivable. We experienced an “ownership change” as defined in Section 382 of the Internal Revenue Code (Section 382) as of January 12, 2010. Section 382 contains rules that limit the ability of a company that undergoes an “ownership change” to utilize its net operating loss carryforwards (NOLs) and certain built-in losses or deductions recognized during the five-year period after the ownership change to offset future taxable income. Because the five-year period has expired, we have determined the actual impact and final classification of those amounts, which are properly reflected in the amounts presented above. The actual realization of our deferred tax assets is difficult to predict and is dependent on future events.

We recognized income tax benefit from continuing operations of $37.2 million in our fiscal 2019, compared to income tax expense from continuing operations of $94.5 million and $2.7 million in our fiscal 2018 and fiscal 2017, respectively. The income tax benefit in our fiscal 2019 primarily resulted from loss in the current year and the generation of additional federal tax credits. The income tax expense in our fiscal 2018 primarily resulted from income generated in the fiscal year and the remeasurement of our deferred tax asset at a lower 21% federal tax rate, partially offset by the additional release of valuation allowance and the generation of additional federal tax credits. In fiscal 2017, our income tax expense primarily resulted from income generated in the fiscal year, partially offset by the generation of federal tax credits and an additional benefit resulting from changes to our valuation allowance due to changes in our state net operating loss estimates. Due to the effects of changes in our valuation allowance on our deferred tax balance, tax credits and changes in our unrecognized tax benefits, our effective tax rates in fiscal 2019, 2018, and 2017 are not meaningful metrics, as our income tax amounts were not directly correlated to the amount of our pretax income for those periods.

Valuation Allowance

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

During fiscal 2017, we recorded impacts related to our tax elections and changes in legal form as further determinations were made throughout the year. These impacts included changes to our apportionment and deferred balances by jurisdiction, as well as changes to our uncertain tax positions. As a result, we recorded a decrease of 3.5 million in valuation allowance during the quarter ended September 30, 2017 for changes in our expected state net operating loss utilization due to changes in our uncertain tax positions.

During fiscal 2018, we concluded that it was more likely than not that all of our federal tax attributes and additional portions of our state tax assets would be realized over their remaining recovery periods. This conclusion was based on an evaluation of all relevant evidence, both positive and negative, that would impact our ability to realize our deferred tax assets. The positive evidence included continued improvements in our pre-tax earnings profile, recent acquisitions and community count growth in future years, tax planning strategies, and increases to our future taxable income due to the enactment of the Tax Cuts and Jobs Act. The negative evidence included a number of factors within the homebuilding industry, notably recent market related impacts to costs of production, labor constraints, mortgage interest rate forecasts, and the position of the current housing cycle. We continue to maintain levels of backlog and community count to support our expectations of future profitability. During the fiscal 2018, the Company completed its plan to repurchase portions of its outstanding debt, which altered its debt maturity and interest rate profile through new issuances and redemptions of prior issuances. The change in the Company's debt portfolio will create future interest expense savings that further support its estimates of future profitability.

In fiscal 2019, our conclusions on whether we are more likely than not to realize all of our federal tax attributes and certain portions of our state tax attributes remain consistent with our fiscal 2018 determinations. For fiscal 2019, a number of additional positive and negative factors were considered as part of our analysis. The negative factors for fiscal 2019 included current period operating losses, primarily a result of impairments recorded on a number of long held assets in our California submarkets and a loss on debt extinguishment charge in the fourth quarter. The positive factors included a recovery in housing demand throughout the year that resulted in backlog levels consistent with prior year, interest savings from our current year debt repurchases and debt refinance, a new multi-year debt reduction strategy, and additional changes in our taxable income as we continue to account for the changes to the tax code under the Tax Cuts and Jobs Act and the related state impacts. As of September 30, 2019, the Company will have to cumulatively generate approximately $944.0 million in pre-tax income over the course of its carryforward period to realize its deferred tax assets prior to their expiration, which, as previously discussed, is the Company's fiscal 2038.

The valuation allowance of $38.5 million as of September 30, 2019 remains on various state attributes for which the Company has concluded it is not more likely than not that these attributes would be realized at that time.

Unrecognized Tax Benefits

A reconciliation of our unrecognized tax benefits is as follows for the beginning and end of each period presented:



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Balance at beginning of year	$	3,494		$	3,804		$	4,541
Additions for tax positions related to current year	—			—			61
Additions for tax positions related to prior years	—			—			2,611
Reductions in tax positions of prior years	—			—			(2,273		)
Lapse of statute of limitations	(21		)	(310		)	(1,136		)
Balance at end of year	$	3,473		$	3,494		$	3,804

If we were to recognize our $3.5 million of gross unrecognized tax benefits remaining as of September 30, 2019, substantially all would impact our effective tax rate. Additionally, we had an immaterial amount of accrued interest and penalties as of September 30, 2019 and 2018, respectively. Our income tax expense includes tax-related interest.

In the normal course of business, we are subject to audits by federal and state tax authorities regarding various tax liabilities. Certain state income tax returns for various fiscal years are under routine examination. The statute of limitations for our major tax jurisdictions remains open for examination for fiscal years 2007 and subsequent years. As of September 30, 2019, it is reasonably possible that $32 thousand of our uncertain tax positions will reverse within the next twelve months.

Stockholders' Equity

12 Months Ended

Sep. 30, 2019

Equity [Abstract]

Stockholders' Equity

Preferred Stock

The Company currently has no shares of preferred stock outstanding.

Common Stock

As of September 30, 2019, the Company had 63,000,000 shares of common stock authorized and 30,933,110 shares both issued and outstanding.

Common Stock Repurchases

During the first quarter of fiscal 2019, the Company's Board of Directors approved a share repurchase program that authorizes the Company to repurchase up to $50.0 million of its outstanding common stock. As part of this program, the Company has repurchased common stock during fiscal 2019 through open market transactions, 10b5-1 plans, and accelerated share repurchase (ASR) agreements. Under an ASR agreement, the Company pays a specified amount to a third party financial institution and receives an initial delivery of shares of common stock. This initial delivery of shares represents the minimum number of shares the Company expects to receive under the agreement. Upon settlement of the ASR agreement, the financial institution delivers additional shares, with the final number of shares delivered determined with reference to the volume weighted average price per share of our common stock over the term of the agreement, less a negotiated discount. The transactions are accounted for as equity transactions with shares received reflected as an immediate reduction in the weighted average common shares calculation for basic and diluted earnings per share.

The following table presents information regarding ASR agreements entered into during fiscal 2019 (in millions, except per share data).



Agreement Date	Settlement Date	Agreement Amount		Initial Shares Delivered	Additional Shares Delivered	Total Shares Delivered	Average Price Per Share
November 2018	December 2018	$	16.5	1.3	0.3	1.6	$	10.62
May 2019	July 2019	10.0		0.9	0.1	1.0	9.87

In addition to shares repurchased under ASR agreements, the Company repurchased 0.7 million shares for $8.1 million at an average price per share of $11.35 through open market transactions and 10b5-1 plans during fiscal 2019.

All shares have been retired upon repurchase during fiscal 2019. The aggregate reduction to stockholders’ equity related to share repurchases was $34.6 million during the fiscal year ended September 30, 2019. As of September 30, 2019, the remaining availability of the share repurchase program was $15.4 million. The Company made no share repurchases in the prior year.

Dividends

The indentures under which our Senior Notes were issued contain certain restrictive covenants, including limitations on our payment of dividends. There were no dividends paid during our fiscal 2019, 2018, or 2017.

Section 382 Rights Agreement

Prior to fiscal 2019, the Company’s stockholders had approved amendments to the Company’s Certificate of Incorporation (the Protective Amendment) designed to preserve the value of certain tax assets associated with NOL carryforwards under Section 382. In February 2019, the Company’s stockholders approved an extension of the term of the Protective Amendment and approved a Section 382 Rights Agreement that was adopted by our Board of Directors. These instruments are intended to act as deterrents to any person or group, together with their affiliates and associates, from being or becoming the beneficial owner of 4.95% or more of the Company’s common stock.

Retirement and Deferred Compensation Plan	12 Months Ended
Retirement and Deferred Compensation Plan	Sep. 30, 2019
Retirement Benefits [Abstract]
Retirement and Deferred Compensation Plan	Retirement and Deferred Compensation Plans 401(k) Retirement Plan The Company sponsors a defined-contribution plan that is a tax-qualified retirement plan under section 401(k) of the Internal Revenue Code (the Plan). Substantially all employees are eligible for participation in the Plan. Participants may defer and contribute from 1% to 80% of their salary to the Plan, with certain limitations on highly compensated individuals. The Company matches 50% of the first 6% of the participant's contributions. The participant's contributions vest immediately, while the Company's contributions vest over five years. The total contributions for the fiscal years ended September 30, 2019, 2018, and 2017 were approximately $3.6 million, $3.3 million, and $3.0 million, respectively. During fiscal 2019, 2018, and 2017, participants forfeited $0.7 million, $0.7 million, and $0.6 million, respectively, of unvested matching contributions. Deferred Compensation Plan The Beazer Homes USA, Inc. Deferred Compensation Plan (the DCP) is a non-qualified deferred compensation plan for a select group of executives and highly compensated employees. The DCP allows the executives to defer current compensation on a pre-tax basis to a future year, until termination of employment. The objectives of the DCP are to assist executives with financial planning and capital accumulation and to provide the Company with a method of attracting, rewarding and retaining executives. Participation in the DCP is voluntary. Beazer Homes may voluntarily make a contribution to the participants' DCP accounts. Deferred compensation assets of $2.0 million and $1.6 million and deferred compensation liabilities of $4.9 million and $4.6 million as of September 30, 2019, and 2018, respectively, are included in other assets and other liabilities on our consolidated balance sheets, and are recorded at fair value. For the years ended September 30, 2019, 2018, and 2017, the Company contributed approximately $0.2 million, $0.2 million, and $0.3 million, respectively, to the DCP in the form of voluntary contributions.

Stock-Based Compensation

12 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

During fiscal 2014, we adopted, and our stockholders approved, the 2014 Beazer Homes USA, Inc. Long-Term Incentive Plan (the 2014 Plan). Following adoption of the 2014 Plan, shares available for grant under our 2010 Equity Incentive Plan (the 2010 Plan) remain available for grant in accordance with the terms of that plan. We issue new shares upon the exercise of stock options and the vesting of restricted stock awards. In cases of forfeitures and cancellations, those shares are returned to the share pool for future issuance. As of September 30, 2019, we had approximately 1.7 million shares of common stock for issuance under our various equity incentive plans, of which approximately 1.2 million shares are available for future grants.

Our total stock-based compensation expense is included in G&A expenses in our consolidated statements of operations and recognized using the straight-line method over the vesting period. A summary of the expense related to stock-based compensation by award type is as follows for the periods presented:



	Fiscal Year Ended September 30,
(In thousands)	2019		2018		2017
Stock options expense	$	178	$	225	$	274
Restricted stock awards expense	10,348		10,033		7,885
Stock-based compensation expense	$	10,526	$	10,258	$	8,159

Stock Options

We have issued stock options to officers and key employees under the 2014 Plan, the 2010 Plan, and the 1999 Plan. Stock options have an exercise price equal to the fair market value of the common stock on the grant date, vest three years after the date of grant, and may be exercised thereafter until their expiration, subject to forfeiture upon termination of employment as provided in the applicable plan. Under certain conditions of retirement, eligible participants may receive a partial vesting of stock options. Stock options generally expire on the seventh or eighth anniversary from the date such options were granted, depending on the terms of the award.

The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option-pricing model (Black-Scholes Model). As of September 30, 2019, the intrinsic value of our stock options outstanding, vested and expected to vest, vested and exercisable were $1.1 million, $1.0 million, and $0.9 million, respectively. As of September 30, 2019 and September 30, 2018, there was $0.1 million and $0.2 million, respectively, of total unrecognized compensation cost related to unvested stock options. The cost remaining as of September 30, 2019 is expected to be recognized over a weighted-average period of 1.2 years.

During fiscal 2018, the Compensation Committee of our Board of Directors approved the Employee Stock Option Program (EOP). This program is available to all full-time employees and is designed to enable employees to share in potential price appreciation of the Company's stock. The EOP matches stock purchases made by eligible employees meeting certain conditions with an option to purchase an additional share of the Company's shares on a one-to-one basis. The exercise price of the options granted is equal to the closing price of the Company's stock on the day the underlying stock is purchased. The options will vest on the second anniversary of the date of grant but are forfeited if (1) the eligible employee no longer works for the Company or (2) the underlying shares are sold before the two-year vesting period is over. The total number of options available under the EOP is limited to 100,000, of which 30,782 options were granted through the end of fiscal 2019.

During the year ended September 30, 2019, we issued 30,782 stock options, all were issued under the EOP, each for one share of the Company's stock. These stock options typically vest ratably over two years from the date of grant. We used the following valuation assumptions for stock options granted for the periods presented:



	Fiscal Year Ended September 30,
	2019			2018			2017
Expected life of options	5.0 years			5.0 years			5.4 years
Expected volatility	46.69		%	44.71		%	50.10		%
Expected dividends	—			—			—
Weighted-average risk-free interest rate	2.70		%	2.10		%	1.85		%
Weighted-average fair value	$	4.50		$	8.30		$	5.83

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

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



	2019				2018				2017
	Shares		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price
Outstanding at beginning of period	533,052		$	14.26	593,753		$	14.76	672,669		$	16.49
Granted	30,782		10.23		25,230		19.99		29,410		12.50
Exercised	(31,450	)	10.00		(8,411	)	7.52		(2,313	)	10.80
Expired	—		—		(61,967	)	23.19		(84,976	)	28.45
Cancelled	—		—		—		—		(480	)	23.65
Forfeited	(8,630	)	10.45		(15,553	)	10.46		(20,557	)	11.97
Outstanding at end of period	523,754		$	14.34	533,052		$	14.26	593,753		$	14.76
Exercisable at end of period	470,501		$	14.42	479,538		$	14.03	476,606		$	15.91
Vested or expected to vest in the future	521,362		$	14.36	533,052		$	14.26	585,186		$	14.83

The following table summarizes information about stock options outstanding and exercisable as of September 30, 2019:



	Stock Options Outstanding				Stock Options Exercisable
Range of Exercise Price	Number Outstanding	Weighted-Average Contractual Remaining Life (Years)	Weighted-Average Exercise Price		Number Exercisable	Weighted-Average Contractual Remaining Life (Years)	Weighted-Average Exercise Price
$1 - $10	138,472	2.5	$	9.79	116,980	1.6	$	9.77
$11 - $15	212,240	2.3	13.28		196,266	2.0	13.38
$16 - $20	173,042	2.7	19.30		157,255	2.3	19.19
$1 - $20	523,754	2.5	$	14.34	470,501	2.0	$	14.42

Information pertaining to the intrinsic value of options exercised and the fair market value of options that vested is below:



	Fiscal Year Ended September 30,
(In thousands)	2019		2018		2017
Intrinsic value of options exercised	$	90	$	76	$	13
Fair market value of options vested	178		296		482

Restricted Stock Awards

The fair value of each restricted stock award with market conditions is estimated on the date of grant using the Monte Carlo valuation method. 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 September 30, 2019 and September 30, 2018, there was $9.0 million and $8.8 million, respectively, of total unrecognized compensation cost related to unvested restricted stock awards. The cost remaining as of September 30, 2019 is expected to be recognized over a weighted-average period of 1.7 years.

We have issued restricted stock awards to officers and key employees under both the 2014 Plan and the 2010 Plan. During fiscal 2019, we issued time-based restricted stock awards and performance-based restricted stock awards with a payout subject to certain performance and market conditions. Each award type is discussed below.

Performance-Based Restricted Stock Awards

During the year ended September 30, 2019, we issued 381,769 shares of performance-based restricted stock (2019 Performance Shares) to our executive officers and certain other employees that also have market conditions. The 2019 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 the 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 2019 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 $10.50 per share on the date of grant.

A Monte Carlo valuation model requires the following inputs: (1) the expected dividend yield on the underlying stock; (2) the expected price volatility of the underlying stock; (3) the risk-free interest rate for the period corresponding with the expected term of the award; and (4) the fair value of the underlying stock. For the Company and each member of the peer group, the following inputs were used, as applicable, in the Monte Carlo valuation model to determine the fair value as of the grant date for performance-based restricted stock granted in each of the fiscal years ended. 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.



	Fiscal Year Ended September 30,
	2019			2018			2017
Expected volatility	21.0% - 57.1%			21.1% - 61.2%			32.6% - 66.0%
Risk-free interest rate	2.92		%	1.81		%	1.30		%
Dividend yield	—			—			—
Grant-date stock price	$	9.82		$	20.50		$	12.51

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 2019 Performance Shares earned in excess of the target number of 381,769 may be settled in cash or additional shares at the discretion of the Compensation Committee. Any portion of these shares that do not vest at the end of the period will be forfeited.

The performance criteria of the 2017 Performance Share grant were satisfied as of September 30, 2019. Based on the actual performance level achieved, 390,043 performance-based restricted stock awards from the 2017 Performance Share grant will cliff vest at the end of the three-year vesting period on November 17, 2019. Of the total $5.9 million compensation cost related to these awards, we have recognized $2.7 million, $2.0 million, and $1.0 million during the fiscal years ended September 30, 2019, 2018, and 2017, respectively. The remaining $0.2 million of unrecognized compensation cost will be recognized in the first quarter of fiscal 2020.

Time-Based Restricted Stock Awards

During the year ended September 30, 2019, we also issued 448,657 shares of time-based restricted stock (Restricted Shares) to our directors, executive officers, and certain other employees. Restricted Shares are valued based on the market price of the Company's common stock on the date of the grant. The Restricted Shares granted to our non-employee directors vest on the first anniversary of the grant, while the Restricted Shares granted to our executive officers and other employees generally vest ratably over three years from the date of grant.

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



	Year Ended September 30, 2019
	Performance-Based				Time-Based				Total
	Shares		Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value
Beginning of period	644,785		$	16.47	431,783		$	16.60	1,076,568		$	16.53
Granted ^(a)	467,819		9.95		448,657		9.82		916,476		9.89
Vested ^(a)	(321,833	)	15.36		(212,558	)	16.41		(534,391	)	15.78
Forfeited	(11,957	)	13.44		(56,275	)	12.20		(68,232	)	12.42
End of period	778,814		$	13.60	611,607		$	12.11	1,390,421		$	16.53

^(a) Grant and vesting activity during the twelve months ended September 30, 2019 include 86,050 shares that were issued above target based on performance level achieved under performance-based restricted stock vesting in the current period.



	Year Ended September 30, 2018
	Performance-Based				Time-Based				Total
	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		$	16.15
Granted	165,085		22.40		277,165		18.98		442,250		20.26
Vested	—		—		(690,922	)	17.38		(690,922	)	17.38
Forfeited	(189,066	)	18.98		(26,641	)	17.02		(215,707	)	18.74
End of period	644,785		$	16.47	431,783		$	16.60	1,076,568		$	16.53



	Year Ended September 30, 2017
	Performance-Based				Time-Based				Total
	Shares		Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value
Beginning of period	448,693		$	16.71	807,124		$	17.52	1,255,817		$	17.23
Granted	263,696		13.60		271,855		12.50		535,551		13.04
Vested	—		—		(189,029	)	15.52		(189,029	)	15.52
Forfeited	(43,623	)	13.11		(17,769	)	14.08		(61,392	)	13.39
End of period	668,766		$	15.72	872,181		$	16.47	1,540,947		$	16.15

Earnings Per Share

12 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

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

Following is a summary of the components of basic and diluted (loss) income per share for the periods presented:



	Fiscal Year Ended September 30,
in thousands, except per share data	2019			2018			2017
Numerator:
(Loss) income from continuing operations	$	(79,421	)	$	(45,046	)	$	31,953
Loss from discontinued operations, net of tax	(99		)	(329		)	(140		)
Net (loss) income	$	(79,520	)	$	(45,375	)	$	31,813

Denominator:
Basic weighted-average shares	30,617			32,141			31,952
Dilutive effect of restricted stock awards	—			—			433
Dilutive effect of stock options	—			—			41
Diluted weighted-average shares ^(a)	30,617			32,141			32,426

Basic (loss) income per share:
Continuing operations	$	(2.59	)	$	(1.40	)	$	1.00
Discontinued operations	(0.01		)	(0.01		)	—
Total	$	(2.60	)	$	(1.41	)	$	1.00

Diluted (loss) income per share:
Continuing operations	$	(2.59	)	$	(1.40	)	$	0.99
Discontinued operations	(0.01		)	(0.01		)	—
Total	$	(2.60	)	$	(1.41	)	$	0.99

^(a)The following potentially dilutive shares were excluded from the calculation of diluted (loss) income per share as a result of their anti-dilutive effect. Due to the reported net losses for the years ended September 30, 2019 and 2018, all common stock equivalents were excluded from the computation of diluted loss per share for fiscal years 2019 and 2018 because inclusion would have resulted in anti-dilution.



	Fiscal Year Ended September 30,
in thousands	2019	2018	2017
Stock options	524	533	319
Time-based restricted stock	612	432	—
Performance-based restricted stock	779	645	—

Segment Information

12 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment Information

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

West: Arizona, California, Nevada, and Texas

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

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

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

Management’s evaluation of segment performance is based on segment operating (loss) income. Operating (loss) income for our homebuilding segments is defined as homebuilding and land sales and other revenue 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 those described in Note 2.

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



	Fiscal Year Ended September 30,
in thousands	2019		2018		2017
Revenue
West	$	1,014,702	$	1,014,803	$	853,230
East	514,961		524,563		551,422
Southeast	558,076		567,767		511,626
Total revenue	$	2,087,739	$	2,107,133	$	1,916,278



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Operating (loss) income ^(a)
West	$	(5,492	)	$	142,310		$	110,600
East ^(b)	51,576			57,372			58,191
Southeast	40,165			45,950			53,905
Segment total	86,249			245,632			222,696
Corporate and unallocated ^(c)	(176,145		)	(164,084		)	(160,558		)
Total operating (loss) income	$	(89,896	)	$	81,548		$	62,138

^(a) Operating (loss) 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 year ended September 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 indirect costs, 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 other amounts that are not allocated to our operating segments.



	Fiscal Year Ended September 30,
in thousands	2019		2018		2017
Depreciation and amortization
West	$	6,456	$	7,062	$	7,207
East	3,250		2,619		2,927
Southeast	3,455		3,053		2,564
Segment total	13,161		12,734		12,698
Corporate and unallocated ^(a)	1,598		1,073		1,311
Total depreciation and amortization	$	14,759	$	13,807	$	14,009

^(a)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 presents capital expenditures by segment for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019		2018		2017
Capital Expenditures
West	$	11,635	$	8,152	$	7,086
East	2,518		2,234		2,474
Southeast	3,086		3,112		2,539
Corporate and unallocated	4,117		3,522		341
Total capital expenditures	$	21,356	$	17,020	$	12,440

The following table presents assets by segment as of September 30, 2019 and 2018:



in thousands	September 30, 2019		September 30, 2018
Assets
West	$	751,110	$	835,230
East	286,340		335,474
Southeast	359,431		414,685
Corporate and unallocated ^(a)	560,763		542,713
Total assets	$	1,957,644	$	2,128,102

^(a)Corporate and unallocated total assets primarily consist of cash and cash equivalents, restricted cash, deferred taxes, capitalized interest and indirect costs, and other items that are not allocated to the segments.

Supplemental Guarantor Information

12 Months Ended

Sep. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Supplemental Guarantor Information

As discussed in Note 8, the Company's obligations to pay principal, premium, if any, and interest under certain debt agreements are guaranteed on a joint and several basis by substantially all of the Company's subsidiaries. Some of the immaterial subsidiaries do not guarantee the 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 financial information presents the line items of the Company's 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

September 30, 2019



in thousands	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	70,617	$	36,115	$	9	$	—		$	106,741
Restricted cash	14,847		1,206		—		—			16,053
Accounts receivable (net of allowance of $304)	—		26,394		1		—			26,395
Income tax receivable	4,935		—		—		—			4,935
Owned inventory	—		1,504,248		—		—			1,504,248
Investments in unconsolidated entities	773		3,189		—		—			3,962
Deferred tax assets, net	246,957		—		—		—			246,957
Property and equipment, net	—		27,421		—		—			27,421
Investments in subsidiaries	636,791		—		—		(636,791		)	—
Intercompany	753,769		—		1,680		(755,449		)	—
Goodwill	—		11,376		—		—			11,376
Other assets	1,235		8,317		4		—			9,556
Total assets	$	1,729,924	$	1,618,266	$	1,694	$	(1,392,240	)	$	1,957,644
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	131,152	$	—	$	—		$	131,152
Other liabilities	12,335		97,081		13		—			109,429
Intercompany	1,680		753,769		—		(755,449		)	—
Total debt (net of premium and debt issuance costs)	1,177,155		1,154		—		—			1,178,309
Total liabilities	1,191,170		983,156		13		(755,449		)	1,418,890
Stockholders’ equity	538,754		635,110		1,681		(636,791		)	538,754
Total liabilities and stockholders’ equity	$	1,729,924	$	1,618,266	$	1,694	$	(1,392,240	)	$	1,957,644

Beazer Homes USA, Inc.

Condensed Consolidating Balance Sheet Information

September 30, 2018



in thousands	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	93,875	$	45,355	$	575	$	—		$	139,805
Restricted cash	10,921		2,522		—		—			13,443
Accounts receivable (net of allowance of $378)	—		24,647		—		—			24,647
Income tax receivable	—		—		—		—			—
Owned inventory	—		1,692,284		—		—			1,692,284
Investments in unconsolidated entities	773		3,262		—		—			4,035
Deferred tax assets, net	213,955		—		—		—			213,955
Property and equipment, net	—		20,843		—		—			20,843
Investments in subsidiaries	645,086		—		—		(645,086		)	—
Intercompany	922,525		—		2,304		(924,829		)	—
Goodwill	—		9,751		—		—			9,751
Other assets	694		8,626		19		—			9,339
Total assets	$	1,887,829	$	1,807,290	$	2,898	$	(1,569,915	)	$	2,128,102
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	126,432	$	—	$	—		$	126,432
Other liabilities	14,357		111,906		126		—			126,389
Intercompany	2,304		922,525		—		(924,829		)	—
Total debt (net of discount and debt issuance costs)	1,227,141		4,113		—		—			1,231,254
Total liabilities	1,243,802		1,164,976		126		(924,829		)	1,484,075
Stockholders’ equity	644,027		642,314		2,772		(645,086		)	644,027
Total liabilities and stockholders’ equity	$	1,887,829	$	1,807,290	$	2,898	$	(1,569,915	)	$	2,128,102

Beazer Homes USA, Inc.

Consolidating Statements of Operations Information



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2019
Total revenue	$	—		$	2,087,739		$	115		$	(115	)	$	2,087,739
Home construction and land sales expenses	93,875			1,679,325			—			(115		)	1,773,085
Inventory impairments and abandonments	13,908			134,710			—			—			148,618
Gross (loss) profit	(107,783		)	273,704			115			—			166,036
Commissions	—			79,802			—			—			79,802
General and administrative expenses	—			161,375			(4		)	—			161,371
Depreciation and amortization	—			14,759			—			—			14,759
Operating (loss) income	(107,783		)	17,768			119			—			(89,896		)
Equity in income of unconsolidated entities	—			404			—			—			404
Loss on extinguishment of debt	(24,920		)	—			—			—			(24,920		)
Other (expense) income, net	(3,109		)	887			(4		)	—			(2,226		)
(Loss) income from continuing operations before income taxes	(135,812		)	19,059			115			—			(116,638		)
(Benefit) expense from income taxes	(15,603		)	(21,643		)	29			—			(37,217		)
Equity in income of subsidiaries	40,788			—			—			(40,788		)	—
(Loss) income from continuing operations	(79,421		)	40,702			86			(40,788		)	(79,421		)
Loss from discontinued operations, net of tax	—			(85		)	(14		)	—			(99		)
Equity in loss of subsidiaries from discontinued operations	(99		)	—			—			99			—
Net (loss) income	$	(79,520	)	$	40,617		$	72		$	(40,689	)	$	(79,520	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2018
Total revenue	$	—		$	2,107,133		$	83		$	(83	)	$	2,107,133
Home construction and land sales expenses	91,132			1,664,570			—			(83		)	1,755,619
Inventory impairments and abandonments	1,961			4,538			—			—			6,499
Gross (loss) profit	(93,093		)	438,025			83			—			345,015
Commissions	—			81,002			—			—			81,002
General and administrative expenses	—			168,536			122			—			168,658
Depreciation and amortization	—			13,807			—			—			13,807
Operating (loss) income	(93,093		)	174,680			(39		)	—			81,548
Equity in income of unconsolidated entities	—			34			—			—			34
Loss on extinguishment of debt	(27,839		)	—			—			—			(27,839		)
Other (expense) income, net	(5,323		)	1,046			(28		)	—			(4,305		)
(Loss) income from continuing operations before income taxes	(126,255		)	175,760			(67		)	—			49,438
(Benefit) expense from income taxes	(93,714		)	188,217			(19		)	—			94,484
Equity in loss of subsidiaries	(12,505		)	—			—			12,505			—
Loss from continuing operations	(45,046		)	(12,457		)	(48		)	12,505			(45,046		)
Loss from discontinued operations, net of tax	—			(312		)	(17		)	—			(329		)
Equity in loss of subsidiaries	(329		)	—			—			329			—
Net loss	$	(45,375	)	$	(12,769	)	$	(65	)	$	12,834		$	(45,375	)

Beazer Homes USA, Inc.

Consolidating Statements of Operations Information



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2017
Total revenue	$	—		$	1,916,278		$	107		$	(107	)	$	1,916,278
Home construction and land sales expenses	88,764			1,512,312			—			(107		)	1,600,969
Inventory impairments and abandonments	56			2,389			—			—			2,445
Gross (loss) profit	(88,820		)	401,577			107			—			312,864
Commissions	—			74,811			—			—			74,811
General and administrative expenses	—			161,804			102			—			161,906
Depreciation and amortization	—			14,009			—			—			14,009
Operating (loss) income	(88,820		)	150,953			5			—			62,138
Equity in income of unconsolidated entities	—			371			—			—			371
Gain (Loss) on extinguishment of debt	(12,630		)	—			—			—			(12,630		)
Other (expense) income, net	(15,635		)	429			(24		)	—			(15,230		)
(Loss) income before income taxes	(117,085		)	151,753			(19		)	—			34,649
(Benefit) expense from income taxes	(42,564		)	45,266			(6		)	—			2,696
Equity in income of subsidiaries	106,474			—			—			(106,474		)	—
Income from continuing operations	31,953			106,487			(13		)	(106,474		)	31,953
Loss from discontinued operations, net of tax	—			(115		)	(25		)	—			(140		)
Equity in loss of subsidiaries	(140		)	—			—			140			—
Net income (loss)	$	31,813		$	106,372		$	(38	)	$	(106,334	)	$	31,813

Beazer Homes USA, Inc.

Condensed Consolidating Statements of Cash Flow Information



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2019
Net cash (used in) provided by operating activities	$	(107,882	)	$	221,529		$	(12	)	$	—		$	113,635
Cash flows from investing activities:
Capital expenditures	—			(21,356		)	—			—			(21,356		)
Proceeds from sale of fixed assets	—			251			—			—			251
Acquisition, net of cash acquired	—			(4,088		)	—			—			(4,088		)
Return of capital from unconsolidated entities	—			68			—			—			68
Advances to/from subsidiaries	204,555			—			(554		)	(204,001		)	—
Net cash provided by (used in) investing activities	204,555			(25,125		)	(554		)	(204,001		)	(25,125		)
Cash flows from financing activities:
Repayment of debt	(573,589		)	(2,959		)	—			—			(576,548		)
Proceeds from issuance of new debt	500,000			—			—			—			500,000
Repayment of borrowing from credit facility	(425,000		)	—			—			—			(425,000		)
Borrowings from credit facility	425,000			—			—			—			425,000
Debt issuance costs	(6,137		)	—			—			—			(6,137		)
Other financing activities	(1,655		)	—			—			—			(1,655		)
Repurchase of common stock	(34,624		)	—			—			—			(34,624		)
Advances to/from subsidiaries	—			(204,001		)	—			204,001			—
Net cash used in financing activities	(116,005		)	(206,960		)	—			204,001			(118,964		)
Decrease in cash and cash equivalents	(19,332		)	(10,556		)	(566		)	—			(30,454		)
Cash, cash equivalents and restricted cash at beginning of period	104,796			47,877			575			—			153,248
Cash, cash equivalents and restricted cash at end of period	$	85,464		$	37,321		$	9		$	—		$	122,794

Beazer Homes USA, Inc.

Condensed Consolidating Statements of Cash Flow Information



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2018
Net cash (used in) provided by operating activities	$	(1,163	)	$	56,153		$	(152	)	$	—		$	54,838
Cash flows from investing activities:
Capital expenditures	—			(17,020		)	—			—			(17,020		)
Proceeds from sale of fixed assets	—			370			—			—			370
Acquisition, net of cash acquired	—			(57,253		)							(57,253		)
Investments in unconsolidated entities	—			(421		)	—			—			(421		)
Return of capital from unconsolidated entities	—			176			—			—			176
Advances to/from subsidiaries	(56,182		)	—			3			56,179			—
Net cash (used in) provided by investing activities	(56,182		)	(74,148		)	3			56,179			(74,148		)
Cash flows from financing activities:
Repayment of debt	(522,465		)	—			—			—			(522,465		)
Proceeds from issuance of new debt	400,000			—			—			—			400,000
Repayment of borrowing from credit facility	(225,000		)	—			—			—			(225,000		)
Borrowing from credit facility	225,000			—			—			—			225,000
Debt issuance costs	(6,272		)	—			—			—			(6,272		)
Other financing activities	(3,314		)	—			—			—			(3,314		)
Advances to/from subsidiaries	—			49,018						(49,018		)	—
Net cash (used in) provided by financing activities	(132,051		)	49,018			—			(49,018		)	(132,051		)
(Decrease) increase in cash and cash equivalents	(189,396		)	31,023			(149		)	7,161			(151,361		)
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	$	104,796		$	47,877		$	575		$	—		$	153,248

Fiscal Year Ended September 30, 2017
Net cash (used in) provided by operating activities	$	(65,093	)	$	170,129		$	(174	)	$	—		$	104,862
Cash flows from investing activities:
Capital expenditures	—			(12,440		)	—			—			(12,440		)
Proceeds from sale of fixed assets	—			297			—			—			297
Investments in unconsolidated entities	—			(3,261		)	—			—			(3,261		)
Return of capital from unconsolidated entities	—			1,621			—			—			1,621
Advances to/from subsidiaries	148,081			—			39			(148,120		)	—
Net cash provided by (used in) investing activities	148,081			(13,783		)	39			(148,120		)	(13,783		)
Cash flows from financing activities:
Repayment of debt	(261,999		)	(12,437		)	—			—			(274,436		)
Proceeds from issuance of new debt	250,000			—			—			—			250,000
Borrowing from credit facility	25,000			—			—			—			25,000
Repayment of borrowing from credit facility	(25,000		)	—			—			—			(25,000		)
Debt issuance costs	(4,919		)	—			—			—			(4,919		)
Other financing activities	(391		)	—			—			—			(391		)
Advances to/from subsidiaries	—			(145,459		)	—			145,459			—
Net cash used in financing activities	(17,309		)	(157,896		)	—			145,459			(29,746		)
Increase (decrease) in cash and cash equivalents	65,679			(1,550		)	(135		)	(2,661		)	61,333
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	$	294,192		$	16,854		$	724		$	(7,161	)	$	304,609

Discontinued Operations

12 Months Ended

Sep. 30, 2019

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 consolidated statements of operations for all periods presented. There were no material assets or liabilities related to our discontinued operations as of September 30, 2019 or September 30, 2018. Discontinued operations were not segregated in the consolidated statements of cash flows. Therefore, amounts for certain captions in the consolidated statements of cash flows will not agree with the respective data in the consolidated statements of operations. The results of our discontinued operations in the consolidated statements of operations for the periods presented were as follows:



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Total revenue	$	55		$	633		$	—
Home construction and land sales expenses	61			612			72
Inventory impairments and abandonments	—			450			—
Gross loss	(6		)	(429		)	(72		)
General and administrative expenses	125			101			169
Operating loss	(131		)	(530		)	(241		)
Equity in (loss) income of unconsolidated entities	(1		)	93			31
Other income (expense), net	5			(4		)	(5		)
Loss from discontinued operations before income taxes	(127		)	(441		)	(215		)
Benefit from income taxes	(28		)	(112		)	(75		)
Loss from discontinued operations, net of tax	$	(99	)	$	(329	)	$	(140	)

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Sep. 30, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

Selected summarized quarterly financial information is as follows for the periods presented:



in thousands, except per share data	Quarter Ended
Fiscal 2019	December 31			March 31			June 30		September 30
Total revenue	$	402,040		$	421,260		$	482,738	$	781,701
Gross profit (loss) ^(a)	60,655			(82,680		)	71,764		116,297
Operating income (loss)	3,506			(138,950		)	9,543		36,005
Net income (loss) from continuing operations ^(b)	7,322			(100,832		)	11,625		2,464
Basic EPS from continuing operations ^(c)	$	0.23		$	(3.28	)	$	0.38	$	0.08
Diluted EPS from continuing operations ^(c)	$	0.23		$	(3.28	)	$	0.38	$	0.08

Fiscal 2018
Total revenue	$	372,489		$	455,178		$	511,521	$	767,945
Gross profit ^(a)	60,829			75,077			83,244		125,865
Operating income	6,681			13,825			17,580		43,462
Net (loss) income from continuing operations ^(b)	(130,575		)	11,616			13,429		60,484
Basic EPS from continuing operations ^(c)	$	(4.07	)	$	0.36		$	0.42	$	1.88
Diluted EPS from continuing operations ^(c)	$	(4.07	)	$	0.36		$	0.41	$	1.83


^(a)	Gross profit (loss) in fiscal 2019 and 2018 includes inventory impairment and abandonments as follows:



in thousands	Fiscal 2019		Fiscal 2018
1st Quarter	$	1,007	$	—
2nd Quarter	147,611		—
3rd Quarter	—		168
4th Quarter	—		6,331
	$	148,618	$	6,499

^(b)Net (loss) income from continuing operations in fiscal 2019 and 2018 includes (loss) gain on extinguishment of debt as follows:



in thousands	Fiscal 2019			Fiscal 2018
1st Quarter	$	—		$	(25,904	)
2nd Quarter	216			—
3rd Quarter	358			—
4th Quarter	(25,494		)	(1,935		)
	$	(24,920	)	$	(27,839	)

^(c)Amounts shown above for EPS for the quarterly periods are calculated separately from the full fiscal year amounts. Accordingly, quarterly amounts will not add to the respective annual amount.

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

12 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Basis of Presentation and Consolidation

Use of Estimates

Business Combinations

Cash and Cash Equivalents and Restricted Cash

Accounts Receivables and Allowance

Accounts Receivable and Allowance

Inventory

Inventory Valuation - Projects in Progress

Asset Valuation - Land Held for Future Development and Sale

Asset Valuation - Land Held for Future Development

Asset Valuation - Land Held for Sale

We record assets held for sale at the lower of the asset's carrying value or fair value less costs to sell. The following criteria are used to determine if land is held for sale:

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

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

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

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

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

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

Land Not Owned Under Option Agreements

Investments in Unconsolidated Entities

Property and Equipment, Net

Our property and equipment is recorded at cost, net of accumulated depreciation. Depreciation is computed on a straight-line basis based on estimated useful lives as follows:



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

Goodwill

Other Assets

Our other assets principally include prepaid expenses and assets related to our deferred compensation plan (refer to Note 15 for a discussion of our deferred compensation plan).

Other Liabilities

Income Taxes

Revenue Recognition


•	Identify the contract(s) with a customer


•	Identify the performance obligations


•	Determine the transaction price


•	Allocate the transaction price


•	Recognize revenue when the performance obligations are met



	Fiscal Year Ended
	September 30,
in thousands	2019		2018		2017
Homebuilding revenue	$	2,077,245	$	2,077,360	$	1,895,855
Land sales and other revenue	10,494		29,773		20,423
Total revenue ^(a)	$	2,087,739	$	2,107,133	$	1,916,278

^(a) Please see Note 18 for total revenue disaggregated by reportable segment.

Homebuilding revenue

Land sales and other revenue

Home Construction Expenses

Fair Value Measurements

Stock-Based Compensation

Recent Accounting Pronouncements

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

12 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Schedule of estimated useful lives

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



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

The following table presents our property and equipment as of September 30, 2019 and September 30, 2018:



in thousands	September 30, 2019			September 30, 2018
Model furnishings and sales office improvements	$	21,114		$	28,311
Information systems	15,045			13,183
Furniture, fixtures and office equipment	10,068			9,332
Leasehold improvements	5,136			4,388
Buildings and improvements	1,671			—
Property and equipment, gross	53,034			55,214
Less: Accumulated Depreciation	(25,613		)	(34,371		)
Property and equipment, net	$	27,421		$	20,843

Schedule of revenue recognition



	Fiscal Year Ended
	September 30,
in thousands	2019		2018		2017
Homebuilding revenue	$	2,077,245	$	2,077,360	$	1,895,855
Land sales and other revenue	10,494		29,773		20,423
Total revenue ^(a)	$	2,087,739	$	2,107,133	$	1,916,278

^(a) Please see Note 18 for total revenue disaggregated by reportable segment.

Investments in Unconsolidated Entities (Tables)

12 Months Ended

Sep. 30, 2019

Equity Method Investments and Joint Ventures [Abstract]

Schedule of investments in unconsolidated joint ventures, total equity and outstanding borrowings

The following table presents the Company's investment in these unconsolidated entities as well as the total equity and outstanding borrowings of these unconsolidated entities as of September 30, 2019 and September 30, 2018:



in thousands	September 30, 2019		September 30, 2018
Investment in unconsolidated entities	$	3,962	$	4,035
Total equity of unconsolidated entities	9,969		10,113
Total outstanding borrowings of unconsolidated entities	12,658		12,266

Equity in income from unconsolidated entity activities included in income from continuing operations is as follows for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019		2018			2017
Income from unconsolidated entity activity	$	404	$	375		$	371
Impairment of unconsolidated entity investment	—		(341		)	—
Equity in income of unconsolidated entities	$	404	$	34		$	371

Inventory (Tables)

12 Months Ended

Sep. 30, 2019

Real Estate [Abstract]

Schedule of inventory

The components of our owned inventory are as follows as of September 30, 2019 and September 30, 2018:



in thousands	September 30, 2019		September 30, 2018
Homes under construction	$	507,542	$	476,752
Development projects in progress	738,201		907,793
Land held for future development	28,531		83,173
Land held for sale	12,662		7,781
Capitalized interest	136,565		144,645
Model homes	80,747		72,140
Total owned inventory	$	1,504,248	$	1,692,284

Schedule of total inventory by segment

Total owned inventory by reportable segment is presented in the table below as of September 30, 2019 and September 30, 2018:



in thousands	Projects in Progress ^(a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
September 30, 2019
West Segment	$	723,094	$	3,483	$	5,160	$	731,737
East Segment	228,937		14,077		4,104		247,118
Southeast Segment	318,737		10,971		3,398		333,106
Corporate and unallocated ^(b)	192,287		—		—		192,287
Total	$	1,463,055	$	28,531	$	12,662	$	1,504,248
September 30, 2018
West Segment	$	763,453	$	58,125	$	—	$	821,578
East Segment	280,761		14,077		4,580		299,418
Southeast Segment	358,126		10,971		3,177		372,274
Corporate and unallocated ^(b)	198,990		—		24		199,014
Total	$	1,601,330	$	83,173	$	7,781	$	1,692,284

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

Schedule of discounted cash flow analysis

The table below presents, by reportable segment, details of the impairment charges taken on projects in progress for the periods presented:



$ in thousands	Results of Discounted Cash Flow Analyses Prepared
Segment	# of Communities Impaired	# of Lots Impaired	Impairment Charge		Estimated Fair Value of Impaired Inventory at Time of Impairment
Year Ended September 30, 2019
West	9	839	$	92,912	$	69,449
Southeast	1	15	858		1,367
Corporate and unallocated ^(a)	—	—	16,260		14,166
Total	10	854	$	110,030	$	84,982
Year Ended September 30, 2018
Southeast	1	25	$	793	$	1,312
Corporate and unallocated ^(a)	—	—	212		—
Total	1	25	$	1,005	$	1,312
Year Ended September 30, 2017
West	1	46	$	1,625	$	3,791
Corporate and unallocated ^(a)	—	—	68		—
Total	1	46	$	1,693	$	3,791

^(a) Amount represents the capitalized interest and indirect costs that were impaired. Capitalized interest and indirect costs are maintained within our Corporate and unallocated segment.

Schedule of inventory impairments and lot option abandonment charges

The following table presents, by reportable segment, our total impairment and abandonment charges for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019		2018		2017
Projects in Progress:
West	$	92,912	$	—	$	1,625
Southeast	858		793		—
Corporate and unallocated ^(a)	16,260		212		68
Total impairment charges on projects in progress	$	110,030	$	1,005	$	1,693
Land Held for Sale:
West ^(b)	$	37,963	$	—	$	94
East	—		168		470
Southeast	—		3,218		—
Corporate and unallocated ^(a)	625		2,108		—
Total impairment charges on land held for sale	$	38,588	$	5,494	$	564
Abandonments:
East	$	—	$	—	$	188
Total abandonments charges	$	—	$	—	$	188
Total continuing operations	$	148,618	$	6,499	$	2,445
Discontinued Operations:
Land Held for Sale	$	—	$	450	$	—
Total discontinued operations	$	—	$	450	$	—
Total impairment and abandonment charges	$	148,618	$	6,949	$	2,445

^(a) Amount represents the capitalized interest and indirect costs that were impaired. Capitalized interest and indirect costs are maintained within our Corporate and unallocated segment.

Schedule of quantitative unobservable inputs for inventory impairment

The table below presents the ranges or values of significant quantitative unobservable inputs we used in determining the fair value of the communities impaired during the periods presented:



		Fiscal Year Ended September 30,
Unobservable Inputs		2019	2018			2017
Average selling price (in thousands)	$	350 - 615	$	356		$	405
Closings per community per month		1 - 4	1 - 6			1 - 4
Discount rate		14.7% - 16.8%	15.11		%	12.83		%

Schedule of interests in lot option agreements

The following table provides a summary of our interests in lot option agreements as of September 30, 2019 and September 30, 2018:



in thousands	Deposits & Non-refundable Pre-acquisition Costs Incurred		Remaining Obligation
As of September 30, 2019
Unconsolidated lot option agreements	$	78,202	$	389,705
As of September 30, 2018
Unconsolidated lot option agreements	$	72,191	$	383,150

Interest (Tables)

12 Months Ended

Sep. 30, 2019

Real Estate Inventory Capitalized Interest Costs [Abstract]

Schedule of capitalized interest costs

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



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Capitalized interest in inventory, beginning of period	$	144,645		$	139,203		$	138,108
Interest incurred	103,970			103,880			105,551
Capitalized interest impaired	(13,907		)	(1,961		)	(56		)
Interest expense not qualified for capitalization and included as other expense ^(a)	(3,109		)	(5,325		)	(15,636		)
Capitalized interest amortized to home construction and land sales expenses ^(b)	(95,034		)	(91,152		)	(88,764		)
Capitalized interest in inventory, end of period	$	136,565		$	144,645		$	139,203

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

Property and Equipment (Tables)

12 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

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



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

The following table presents our property and equipment as of September 30, 2019 and September 30, 2018:



in thousands	September 30, 2019			September 30, 2018
Model furnishings and sales office improvements	$	21,114		$	28,311
Information systems	15,045			13,183
Furniture, fixtures and office equipment	10,068			9,332
Leasehold improvements	5,136			4,388
Buildings and improvements	1,671			—
Property and equipment, gross	53,034			55,214
Less: Accumulated Depreciation	(25,613		)	(34,371		)
Property and equipment, net	$	27,421		$	20,843

Borrowings (Tables)

12 Months Ended

Sep. 30, 2019

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 September 30, 2019 and September 30, 2018:



in thousands	Maturity Date	September 30, 2019			September 30, 2018
Senior Unsecured Term Loan (Term Loan)	September 2022	$	150,000		$	—
8 3/4% Senior Notes (2022 Notes)	March 2022	—			500,000
7 1/4% Senior Notes (2023 Notes)	February 2023	—			24,834
6 3/4% Senior Notes (2025 Notes)	March 2025	229,555			250,000
5 7/8% Senior Notes (2027 Notes)	October 2027	394,000			400,000
7 1/4% Senior Notes (2029 Notes)	October 2029	350,000			—
Unamortized debt premium, net		—			2,640
Unamortized debt issuance costs		(12,470		)	(14,336		)
Total Senior Notes, net		1,111,085			1,163,138
Junior Subordinated Notes (net of unamortized accretion of $34,703 and $36,770, respectively)	July 2036	66,070			64,003
Other Secured Notes Payable	Various Dates	1,154			4,113
Total debt, net		$	1,178,309		$	1,231,254

Schedule of maturities of long-term debt

As of September 30, 2019, the future maturities of our borrowings were as follows:



Fiscal Year Ended September 30,
in thousands
2020	$	51,154
2021	50,000
2022	50,000
2023	—
2024	—
Thereafter	1,074,328
Total	$	1,225,482

Schedule of 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
6 3/4% Senior Notes	March 2017	March 2025	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.
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 100.000% 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	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.
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 100.000% 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
7 1/4% Senior Notes	September 2019	October 2029	On or prior to October 15, 2022, we may redeem up to 35% of the aggregate principal amount of the 2029 Notes with the net cash proceeds of certain equity offerings at a redemption price equal to 107.250% 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 2029 Notes originally issued remains outstanding immediately after such redemption.
7 1/4% Senior Notes	September 2019	October 2029	Callable at any time prior to October 15, 2024, 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, 2024, callable at a redemption price equal to 103.625% of the principal amount; on or after October 15, 2025, callable at a redemption price equal to 102.417% of the principal amount; on or after October 15, 2026, callable at a redemption price equal to 101.208% of the principal amount; on or after October 15, 2027, 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Contingencies (Tables)

12 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of warranty reserves

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



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Balance at beginning of period	$	15,331		$	18,091		$	39,131
Accruals for warranties issued ^(a)	11,847			13,755			14,215
Changes in liability related to warranties existing in prior periods ^(b)	(1,686		)	(2,401		)	4,807
Payments made ^(b)	(12,104		)	(14,114		)	(40,062		)
Balance at end of period	$	13,388		$	15,331		$	18,091

Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

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

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 September 30, 2019
Deferred compensation plan assets ^(a)	$	—	$	1,970	$	—		$	1,970
Development projects in progress^(b)	—		—		84,982		^(c)	84,982
Land held for sale ^(b)	—		—		5,207		^(c)	5,207
As of September 30, 2018
Deferred compensation plan assets ^(a)	$	—	$	1,578	$	—		$	1,578
Development projects in progress ^(b)	—		—		1,312		^(c)	1,312
Land held for sale ^(b)	—		—		1,724		^(c)	1,724
Unconsolidated entity investments ^(b)	—		—		80			80
As of September 30, 2017
Deferred compensation plan assets ^(a)	$	—	$	1,114	$	—		$	1,114
Development projects in progress ^(b)	—		—		3,791		^(c)	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, including the capitalized interest and indirect costs related to the asset.

^(c)Amount represents the impairment-date fair value of the development projects in progress and land held for sale assets that were impaired during the periods indicated.

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 other financial liabilities as of September 30, 2019 and September 30, 2018:



	As of September 30, 2019				As of September 30, 2018
in thousands	Carrying Amount ^(a)		Fair Value		Carrying Amount ^(a)		Fair Value
Senior Notes ^(b)	$	1,111,085	$	1,115,011	$	1,163,138	$	1,096,214
Junior Subordinated Notes ^(c)	66,070		66,070		64,003		64,003
Total	$	1,177,155	$	1,181,081	$	1,227,141	$	1,160,217

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

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

- 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

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense (benefit)

The Company's (benefit) expense from income taxes from continuing operations consists of the following for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Current federal ^(a)	$	(4,935	)	$	57		$	—
Current state	693			512			859
Deferred federal ^(b)	(31,291		)	102,082			1,625
Deferred state ^(c)	(1,684		)	(8,167		)	212
Total (benefit) / expense	$	(37,217	)	$	94,484		$	2,696

^(a) Fiscal 2019 federal current benefit is primarily driven by the expected refund of half of our outstanding minimum tax credit balance as discussed below.

^(c)Fiscal 2018 state deferred benefit is primarily driven by the release of valuation allowance in certain operating jurisdictions; refer to discussion below titled “Valuation Allowance.”

Schedule of effective income tax rate reconciliation

The (benefit) expense from income taxes from continuing operations differs from the amount computed by applying the federal income tax statutory rate as follows for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Income tax computed at statutory rate	$	(24,494	)	$	12,112		$	12,052
State income taxes, net of federal benefit	(590		)	111			1,287
Deferred rate change	(88		)	110,071			—
Decrease in valuation allowance - other ^{(a) (b)}	—			(27,370		)	(3,482		)
Changes in uncertain tax positions	(7		)	598			(685		)
Stock based compensation	—			—			741
Permanent differences	2,908			2,133			496
Tax credits	(14,902		)	(3,174		)	(7,460		)
Other, net	(44		)	3			(253		)
Total (benefit) / expense	$	(37,217	)	$	94,484		$	2,696

Schedule of deferred tax assets and liabilities

The tax effects of significant temporary differences that give rise to the net deferred tax assets are as follows as of September 30, 2019 and September 30, 2018:



in thousands	September 30, 2019			September 30, 2018
Deferred tax assets:
Federal and state tax carryforwards	$	208,360		$	196,702
Inventory adjustments	42,605			29,565
Intangible assets	17,209			192
Incentive compensation	9,360			11,959
Warranty and other reserves	4,302			6,350
Property, equipment and other assets	2,255			2,123
Uncertain tax positions	729			734
Other	623			542
Total deferred tax assets	285,443			248,167
Valuation allowance	(38,486		)	(34,212		)
Net deferred tax assets	$	246,957		$	213,955

Schedule of unrecognized tax benefits roll forward

A reconciliation of our unrecognized tax benefits is as follows for the beginning and end of each period presented:



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Balance at beginning of year	$	3,494		$	3,804		$	4,541
Additions for tax positions related to current year	—			—			61
Additions for tax positions related to prior years	—			—			2,611
Reductions in tax positions of prior years	—			—			(2,273		)
Lapse of statute of limitations	(21		)	(310		)	(1,136		)
Balance at end of year	$	3,473		$	3,494		$	3,804

Stock-Based Compensation (Tables)

12 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Schedule of allocation of share-based compensation costs by plan

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



	Fiscal Year Ended September 30,
(In thousands)	2019		2018		2017
Stock options expense	$	178	$	225	$	274
Restricted stock awards expense	10,348		10,033		7,885
Stock-based compensation expense	$	10,526	$	10,258	$	8,159

Schedule of assumptions for stock option activity

We used the following valuation assumptions for stock options granted for the periods presented:



	Fiscal Year Ended September 30,
	2019			2018			2017
Expected life of options	5.0 years			5.0 years			5.4 years
Expected volatility	46.69		%	44.71		%	50.10		%
Expected dividends	—			—			—
Weighted-average risk-free interest rate	2.70		%	2.10		%	1.85		%
Weighted-average fair value	$	4.50		$	8.30		$	5.83



	Fiscal Year Ended September 30,
	2019			2018			2017
Expected volatility	21.0% - 57.1%			21.1% - 61.2%			32.6% - 66.0%
Risk-free interest rate	2.92		%	1.81		%	1.30		%
Dividend yield	—			—			—
Grant-date stock price	$	9.82		$	20.50		$	12.51

Schedule of stock options and SSARs outstanding

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



	2019				2018				2017
	Shares		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price
Outstanding at beginning of period	533,052		$	14.26	593,753		$	14.76	672,669		$	16.49
Granted	30,782		10.23		25,230		19.99		29,410		12.50
Exercised	(31,450	)	10.00		(8,411	)	7.52		(2,313	)	10.80
Expired	—		—		(61,967	)	23.19		(84,976	)	28.45
Cancelled	—		—		—		—		(480	)	23.65
Forfeited	(8,630	)	10.45		(15,553	)	10.46		(20,557	)	11.97
Outstanding at end of period	523,754		$	14.34	533,052		$	14.26	593,753		$	14.76
Exercisable at end of period	470,501		$	14.42	479,538		$	14.03	476,606		$	15.91
Vested or expected to vest in the future	521,362		$	14.36	533,052		$	14.26	585,186		$	14.83

Schedule of stock options and SSARS outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable as of September 30, 2019:



	Stock Options Outstanding				Stock Options Exercisable
Range of Exercise Price	Number Outstanding	Weighted-Average Contractual Remaining Life (Years)	Weighted-Average Exercise Price		Number Exercisable	Weighted-Average Contractual Remaining Life (Years)	Weighted-Average Exercise Price
$1 - $10	138,472	2.5	$	9.79	116,980	1.6	$	9.77
$11 - $15	212,240	2.3	13.28		196,266	2.0	13.38
$16 - $20	173,042	2.7	19.30		157,255	2.3	19.19
$1 - $20	523,754	2.5	$	14.34	470,501	2.0	$	14.42

Schedule of stock options exercised and vested

Information pertaining to the intrinsic value of options exercised and the fair market value of options that vested is below:



	Fiscal Year Ended September 30,
(In thousands)	2019		2018		2017
Intrinsic value of options exercised	$	90	$	76	$	13
Fair market value of options vested	178		296		482

Schedule of nonvested stock awards and performance shares

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



	Year Ended September 30, 2019
	Performance-Based				Time-Based				Total
	Shares		Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value
Beginning of period	644,785		$	16.47	431,783		$	16.60	1,076,568		$	16.53
Granted ^(a)	467,819		9.95		448,657		9.82		916,476		9.89
Vested ^(a)	(321,833	)	15.36		(212,558	)	16.41		(534,391	)	15.78
Forfeited	(11,957	)	13.44		(56,275	)	12.20		(68,232	)	12.42
End of period	778,814		$	13.60	611,607		$	12.11	1,390,421		$	16.53



	Year Ended September 30, 2018
	Performance-Based				Time-Based				Total
	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		$	16.15
Granted	165,085		22.40		277,165		18.98		442,250		20.26
Vested	—		—		(690,922	)	17.38		(690,922	)	17.38
Forfeited	(189,066	)	18.98		(26,641	)	17.02		(215,707	)	18.74
End of period	644,785		$	16.47	431,783		$	16.60	1,076,568		$	16.53



	Year Ended September 30, 2017
	Performance-Based				Time-Based				Total
	Shares		Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value
Beginning of period	448,693		$	16.71	807,124		$	17.52	1,255,817		$	17.23
Granted	263,696		13.60		271,855		12.50		535,551		13.04
Vested	—		—		(189,029	)	15.52		(189,029	)	15.52
Forfeited	(43,623	)	13.11		(17,769	)	14.08		(61,392	)	13.39
End of period	668,766		$	15.72	872,181		$	16.47	1,540,947		$	16.15

Earnings Per Share (Tables)

12 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Schedule of basic and diluted earnings per share

Following is a summary of the components of basic and diluted (loss) income per share for the periods presented:



	Fiscal Year Ended September 30,
in thousands, except per share data	2019			2018			2017
Numerator:
(Loss) income from continuing operations	$	(79,421	)	$	(45,046	)	$	31,953
Loss from discontinued operations, net of tax	(99		)	(329		)	(140		)
Net (loss) income	$	(79,520	)	$	(45,375	)	$	31,813

Denominator:
Basic weighted-average shares	30,617			32,141			31,952
Dilutive effect of restricted stock awards	—			—			433
Dilutive effect of stock options	—			—			41
Diluted weighted-average shares ^(a)	30,617			32,141			32,426

Basic (loss) income per share:
Continuing operations	$	(2.59	)	$	(1.40	)	$	1.00
Discontinued operations	(0.01		)	(0.01		)	—
Total	$	(2.60	)	$	(1.41	)	$	1.00

Diluted (loss) income per share:
Continuing operations	$	(2.59	)	$	(1.40	)	$	0.99
Discontinued operations	(0.01		)	(0.01		)	—
Total	$	(2.60	)	$	(1.41	)	$	0.99

Schedule of antidilutive securities



	Fiscal Year Ended September 30,
in thousands	2019	2018	2017
Stock options	524	533	319
Time-based restricted stock	612	432	—
Performance-based restricted stock	779	645	—

Segment Information (Tables)

12 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Schedule of segment reporting information

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



	Fiscal Year Ended September 30,
in thousands	2019		2018		2017
Revenue
West	$	1,014,702	$	1,014,803	$	853,230
East	514,961		524,563		551,422
Southeast	558,076		567,767		511,626
Total revenue	$	2,087,739	$	2,107,133	$	1,916,278



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Operating (loss) income ^(a)
West	$	(5,492	)	$	142,310		$	110,600
East ^(b)	51,576			57,372			58,191
Southeast	40,165			45,950			53,905
Segment total	86,249			245,632			222,696
Corporate and unallocated ^(c)	(176,145		)	(164,084		)	(160,558		)
Total operating (loss) income	$	(89,896	)	$	81,548		$	62,138

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



	Fiscal Year Ended September 30,
in thousands	2019		2018		2017
Depreciation and amortization
West	$	6,456	$	7,062	$	7,207
East	3,250		2,619		2,927
Southeast	3,455		3,053		2,564
Segment total	13,161		12,734		12,698
Corporate and unallocated ^(a)	1,598		1,073		1,311
Total depreciation and amortization	$	14,759	$	13,807	$	14,009

^(a)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 presents capital expenditures by segment for the periods presented:



	Fiscal Year Ended September 30,
in thousands	2019		2018		2017
Capital Expenditures
West	$	11,635	$	8,152	$	7,086
East	2,518		2,234		2,474
Southeast	3,086		3,112		2,539
Corporate and unallocated	4,117		3,522		341
Total capital expenditures	$	21,356	$	17,020	$	12,440

The following table presents assets by segment as of September 30, 2019 and 2018:



in thousands	September 30, 2019		September 30, 2018
Assets
West	$	751,110	$	835,230
East	286,340		335,474
Southeast	359,431		414,685
Corporate and unallocated ^(a)	560,763		542,713
Total assets	$	1,957,644	$	2,128,102

Supplemental Guarantor Information (Tables)

12 Months Ended

Sep. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed consolidating balance sheet information

Beazer Homes USA, Inc.

Condensed Consolidating Balance Sheet Information

September 30, 2019



in thousands	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	70,617	$	36,115	$	9	$	—		$	106,741
Restricted cash	14,847		1,206		—		—			16,053
Accounts receivable (net of allowance of $304)	—		26,394		1		—			26,395
Income tax receivable	4,935		—		—		—			4,935
Owned inventory	—		1,504,248		—		—			1,504,248
Investments in unconsolidated entities	773		3,189		—		—			3,962
Deferred tax assets, net	246,957		—		—		—			246,957
Property and equipment, net	—		27,421		—		—			27,421
Investments in subsidiaries	636,791		—		—		(636,791		)	—
Intercompany	753,769		—		1,680		(755,449		)	—
Goodwill	—		11,376		—		—			11,376
Other assets	1,235		8,317		4		—			9,556
Total assets	$	1,729,924	$	1,618,266	$	1,694	$	(1,392,240	)	$	1,957,644
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	131,152	$	—	$	—		$	131,152
Other liabilities	12,335		97,081		13		—			109,429
Intercompany	1,680		753,769		—		(755,449		)	—
Total debt (net of premium and debt issuance costs)	1,177,155		1,154		—		—			1,178,309
Total liabilities	1,191,170		983,156		13		(755,449		)	1,418,890
Stockholders’ equity	538,754		635,110		1,681		(636,791		)	538,754
Total liabilities and stockholders’ equity	$	1,729,924	$	1,618,266	$	1,694	$	(1,392,240	)	$	1,957,644

Beazer Homes USA, Inc.

Condensed Consolidating Balance Sheet Information

September 30, 2018



in thousands	Beazer Homes USA, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	$	93,875	$	45,355	$	575	$	—		$	139,805
Restricted cash	10,921		2,522		—		—			13,443
Accounts receivable (net of allowance of $378)	—		24,647		—		—			24,647
Income tax receivable	—		—		—		—			—
Owned inventory	—		1,692,284		—		—			1,692,284
Investments in unconsolidated entities	773		3,262		—		—			4,035
Deferred tax assets, net	213,955		—		—		—			213,955
Property and equipment, net	—		20,843		—		—			20,843
Investments in subsidiaries	645,086		—		—		(645,086		)	—
Intercompany	922,525		—		2,304		(924,829		)	—
Goodwill	—		9,751		—		—			9,751
Other assets	694		8,626		19		—			9,339
Total assets	$	1,887,829	$	1,807,290	$	2,898	$	(1,569,915	)	$	2,128,102
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	$	—	$	126,432	$	—	$	—		$	126,432
Other liabilities	14,357		111,906		126		—			126,389
Intercompany	2,304		922,525		—		(924,829		)	—
Total debt (net of discount and debt issuance costs)	1,227,141		4,113		—		—			1,231,254
Total liabilities	1,243,802		1,164,976		126		(924,829		)	1,484,075
Stockholders’ equity	644,027		642,314		2,772		(645,086		)	644,027
Total liabilities and stockholders’ equity	$	1,887,829	$	1,807,290	$	2,898	$	(1,569,915	)	$	2,128,102

Consolidating statement of operations information

Beazer Homes USA, Inc.

Consolidating Statements of Operations Information



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2019
Total revenue	$	—		$	2,087,739		$	115		$	(115	)	$	2,087,739
Home construction and land sales expenses	93,875			1,679,325			—			(115		)	1,773,085
Inventory impairments and abandonments	13,908			134,710			—			—			148,618
Gross (loss) profit	(107,783		)	273,704			115			—			166,036
Commissions	—			79,802			—			—			79,802
General and administrative expenses	—			161,375			(4		)	—			161,371
Depreciation and amortization	—			14,759			—			—			14,759
Operating (loss) income	(107,783		)	17,768			119			—			(89,896		)
Equity in income of unconsolidated entities	—			404			—			—			404
Loss on extinguishment of debt	(24,920		)	—			—			—			(24,920		)
Other (expense) income, net	(3,109		)	887			(4		)	—			(2,226		)
(Loss) income from continuing operations before income taxes	(135,812		)	19,059			115			—			(116,638		)
(Benefit) expense from income taxes	(15,603		)	(21,643		)	29			—			(37,217		)
Equity in income of subsidiaries	40,788			—			—			(40,788		)	—
(Loss) income from continuing operations	(79,421		)	40,702			86			(40,788		)	(79,421		)
Loss from discontinued operations, net of tax	—			(85		)	(14		)	—			(99		)
Equity in loss of subsidiaries from discontinued operations	(99		)	—			—			99			—
Net (loss) income	$	(79,520	)	$	40,617		$	72		$	(40,689	)	$	(79,520	)
	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2018
Total revenue	$	—		$	2,107,133		$	83		$	(83	)	$	2,107,133
Home construction and land sales expenses	91,132			1,664,570			—			(83		)	1,755,619
Inventory impairments and abandonments	1,961			4,538			—			—			6,499
Gross (loss) profit	(93,093		)	438,025			83			—			345,015
Commissions	—			81,002			—			—			81,002
General and administrative expenses	—			168,536			122			—			168,658
Depreciation and amortization	—			13,807			—			—			13,807
Operating (loss) income	(93,093		)	174,680			(39		)	—			81,548
Equity in income of unconsolidated entities	—			34			—			—			34
Loss on extinguishment of debt	(27,839		)	—			—			—			(27,839		)
Other (expense) income, net	(5,323		)	1,046			(28		)	—			(4,305		)
(Loss) income from continuing operations before income taxes	(126,255		)	175,760			(67		)	—			49,438
(Benefit) expense from income taxes	(93,714		)	188,217			(19		)	—			94,484
Equity in loss of subsidiaries	(12,505		)	—			—			12,505			—
Loss from continuing operations	(45,046		)	(12,457		)	(48		)	12,505			(45,046		)
Loss from discontinued operations, net of tax	—			(312		)	(17		)	—			(329		)
Equity in loss of subsidiaries	(329		)	—			—			329			—
Net loss	$	(45,375	)	$	(12,769	)	$	(65	)	$	12,834		$	(45,375	)

Beazer Homes USA, Inc.

Consolidating Statements of Operations Information



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2017
Total revenue	$	—		$	1,916,278		$	107		$	(107	)	$	1,916,278
Home construction and land sales expenses	88,764			1,512,312			—			(107		)	1,600,969
Inventory impairments and abandonments	56			2,389			—			—			2,445
Gross (loss) profit	(88,820		)	401,577			107			—			312,864
Commissions	—			74,811			—			—			74,811
General and administrative expenses	—			161,804			102			—			161,906
Depreciation and amortization	—			14,009			—			—			14,009
Operating (loss) income	(88,820		)	150,953			5			—			62,138
Equity in income of unconsolidated entities	—			371			—			—			371
Gain (Loss) on extinguishment of debt	(12,630		)	—			—			—			(12,630		)
Other (expense) income, net	(15,635		)	429			(24		)	—			(15,230		)
(Loss) income before income taxes	(117,085		)	151,753			(19		)	—			34,649
(Benefit) expense from income taxes	(42,564		)	45,266			(6		)	—			2,696
Equity in income of subsidiaries	106,474			—			—			(106,474		)	—
Income from continuing operations	31,953			106,487			(13		)	(106,474		)	31,953
Loss from discontinued operations, net of tax	—			(115		)	(25		)	—			(140		)
Equity in loss of subsidiaries	(140		)	—			—			140			—
Net income (loss)	$	31,813		$	106,372		$	(38	)	$	(106,334	)	$	31,813

Condensed consolidating statements of cash flow information

Beazer Homes USA, Inc.

Condensed Consolidating Statements of Cash Flow Information



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2019
Net cash (used in) provided by operating activities	$	(107,882	)	$	221,529		$	(12	)	$	—		$	113,635
Cash flows from investing activities:
Capital expenditures	—			(21,356		)	—			—			(21,356		)
Proceeds from sale of fixed assets	—			251			—			—			251
Acquisition, net of cash acquired	—			(4,088		)	—			—			(4,088		)
Return of capital from unconsolidated entities	—			68			—			—			68
Advances to/from subsidiaries	204,555			—			(554		)	(204,001		)	—
Net cash provided by (used in) investing activities	204,555			(25,125		)	(554		)	(204,001		)	(25,125		)
Cash flows from financing activities:
Repayment of debt	(573,589		)	(2,959		)	—			—			(576,548		)
Proceeds from issuance of new debt	500,000			—			—			—			500,000
Repayment of borrowing from credit facility	(425,000		)	—			—			—			(425,000		)
Borrowings from credit facility	425,000			—			—			—			425,000
Debt issuance costs	(6,137		)	—			—			—			(6,137		)
Other financing activities	(1,655		)	—			—			—			(1,655		)
Repurchase of common stock	(34,624		)	—			—			—			(34,624		)
Advances to/from subsidiaries	—			(204,001		)	—			204,001			—
Net cash used in financing activities	(116,005		)	(206,960		)	—			204,001			(118,964		)
Decrease in cash and cash equivalents	(19,332		)	(10,556		)	(566		)	—			(30,454		)
Cash, cash equivalents and restricted cash at beginning of period	104,796			47,877			575			—			153,248
Cash, cash equivalents and restricted cash at end of period	$	85,464		$	37,321		$	9		$	—		$	122,794

Beazer Homes USA, Inc.

Condensed Consolidating Statements of Cash Flow Information



in thousands	Beazer Homes USA, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Beazer Homes USA, Inc.
Fiscal Year Ended September 30, 2018
Net cash (used in) provided by operating activities	$	(1,163	)	$	56,153		$	(152	)	$	—		$	54,838
Cash flows from investing activities:
Capital expenditures	—			(17,020		)	—			—			(17,020		)
Proceeds from sale of fixed assets	—			370			—			—			370
Acquisition, net of cash acquired	—			(57,253		)							(57,253		)
Investments in unconsolidated entities	—			(421		)	—			—			(421		)
Return of capital from unconsolidated entities	—			176			—			—			176
Advances to/from subsidiaries	(56,182		)	—			3			56,179			—
Net cash (used in) provided by investing activities	(56,182		)	(74,148		)	3			56,179			(74,148		)
Cash flows from financing activities:
Repayment of debt	(522,465		)	—			—			—			(522,465		)
Proceeds from issuance of new debt	400,000			—			—			—			400,000
Repayment of borrowing from credit facility	(225,000		)	—			—			—			(225,000		)
Borrowing from credit facility	225,000			—			—			—			225,000
Debt issuance costs	(6,272		)	—			—			—			(6,272		)
Other financing activities	(3,314		)	—			—			—			(3,314		)
Advances to/from subsidiaries	—			49,018						(49,018		)	—
Net cash (used in) provided by financing activities	(132,051		)	49,018			—			(49,018		)	(132,051		)
(Decrease) increase in cash and cash equivalents	(189,396		)	31,023			(149		)	7,161			(151,361		)
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	$	104,796		$	47,877		$	575		$	—		$	153,248

Fiscal Year Ended September 30, 2017
Net cash (used in) provided by operating activities	$	(65,093	)	$	170,129		$	(174	)	$	—		$	104,862
Cash flows from investing activities:
Capital expenditures	—			(12,440		)	—			—			(12,440		)
Proceeds from sale of fixed assets	—			297			—			—			297
Investments in unconsolidated entities	—			(3,261		)	—			—			(3,261		)
Return of capital from unconsolidated entities	—			1,621			—			—			1,621
Advances to/from subsidiaries	148,081			—			39			(148,120		)	—
Net cash provided by (used in) investing activities	148,081			(13,783		)	39			(148,120		)	(13,783		)
Cash flows from financing activities:
Repayment of debt	(261,999		)	(12,437		)	—			—			(274,436		)
Proceeds from issuance of new debt	250,000			—			—			—			250,000
Borrowing from credit facility	25,000			—			—			—			25,000
Repayment of borrowing from credit facility	(25,000		)	—			—			—			(25,000		)
Debt issuance costs	(4,919		)	—			—			—			(4,919		)
Other financing activities	(391		)	—			—			—			(391		)
Advances to/from subsidiaries	—			(145,459		)	—			145,459			—
Net cash used in financing activities	(17,309		)	(157,896		)	—			145,459			(29,746		)
Increase (decrease) in cash and cash equivalents	65,679			(1,550		)	(135		)	(2,661		)	61,333
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	$	294,192		$	16,854		$	724		$	(7,161	)	$	304,609

Discontinued Operations (Tables)

12 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of results of discontinued operations

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



	Fiscal Year Ended September 30,
in thousands	2019			2018			2017
Total revenue	$	55		$	633		$	—
Home construction and land sales expenses	61			612			72
Inventory impairments and abandonments	—			450			—
Gross loss	(6		)	(429		)	(72		)
General and administrative expenses	125			101			169
Operating loss	(131		)	(530		)	(241		)
Equity in (loss) income of unconsolidated entities	(1		)	93			31
Other income (expense), net	5			(4		)	(5		)
Loss from discontinued operations before income taxes	(127		)	(441		)	(215		)
Benefit from income taxes	(28		)	(112		)	(75		)
Loss from discontinued operations, net of tax	$	(99	)	$	(329	)	$	(140	)

- 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

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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Sep. 30, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial information

Selected summarized quarterly financial information is as follows for the periods presented:



in thousands, except per share data	Quarter Ended
Fiscal 2019	December 31			March 31			June 30		September 30
Total revenue	$	402,040		$	421,260		$	482,738	$	781,701
Gross profit (loss) ^(a)	60,655			(82,680		)	71,764		116,297
Operating income (loss)	3,506			(138,950		)	9,543		36,005
Net income (loss) from continuing operations ^(b)	7,322			(100,832		)	11,625		2,464
Basic EPS from continuing operations ^(c)	$	0.23		$	(3.28	)	$	0.38	$	0.08
Diluted EPS from continuing operations ^(c)	$	0.23		$	(3.28	)	$	0.38	$	0.08

Fiscal 2018
Total revenue	$	372,489		$	455,178		$	511,521	$	767,945
Gross profit ^(a)	60,829			75,077			83,244		125,865
Operating income	6,681			13,825			17,580		43,462
Net (loss) income from continuing operations ^(b)	(130,575		)	11,616			13,429		60,484
Basic EPS from continuing operations ^(c)	$	(4.07	)	$	0.36		$	0.42	$	1.88
Diluted EPS from continuing operations ^(c)	$	(4.07	)	$	0.36		$	0.41	$	1.83


^(a)	Gross profit (loss) in fiscal 2019 and 2018 includes inventory impairment and abandonments as follows:



in thousands	Fiscal 2019		Fiscal 2018
1st Quarter	$	1,007	$	—
2nd Quarter	147,611		—
3rd Quarter	—		168
4th Quarter	—		6,331
	$	148,618	$	6,499

^(b)Net (loss) income from continuing operations in fiscal 2019 and 2018 includes (loss) gain on extinguishment of debt as follows:



in thousands	Fiscal 2019			Fiscal 2018
1st Quarter	$	—		$	(25,904	)
2nd Quarter	216			—
3rd Quarter	358			—
4th Quarter	(25,494		)	(1,935		)
	$	(24,920	)	$	(27,839	)

^(c)Amounts shown above for EPS for the quarterly periods are calculated separately from the full fiscal year amounts. Accordingly, quarterly amounts will not add to the respective annual amount.

Basis of Presentation and Summary of Significant Accounting Policies - Business Acquisitions (Details) $ in Millions	Jul. 13, 2018 USD ($) home lot Community
Business Acquisition [Line Items]
Number of single-family communities \| Community	27
Venture Homes
Business Acquisition [Line Items]
Purchase price, net of cash acquired	$ 61.3
Number of homes in backlog \| home	48
Number of model homes in backlog \| home	6
Inventory acquired	$ 55.2
Goodwill and intangible assets, net	11.4
Other assets acquired	0.4
Accounts payable assumed	5.5
Other liabilities assumed	$ 0.2
Minimum \| Venture Homes
Business Acquisition [Line Items]
Number of lots owned or controlled \| lot	1,100

Basis of Presentation and Summary of Significant Accounting Policies - Property Plant and Equipment (Details)	12 Months Ended
	Sep. 30, 2019
Buildings \| Minimum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	25 years
Buildings \| Maximum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	30 years
Information systems \| Maximum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	5 years
Furniture, fixtures, computer and office equipment \| Minimum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Furniture, fixtures, computer and office equipment \| Maximum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	7 years

Basis of Presentation and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Summary of Significant Accounting Policies [Line Items]
Total revenue	$ 2,087,739	$ 2,107,133	$ 1,916,278
Homebuilding revenue
Summary of Significant Accounting Policies [Line Items]
Total revenue	2,077,245	2,077,360	1,895,855
Land sales and other revenue
Summary of Significant Accounting Policies [Line Items]
Total revenue	$ 10,494	$ 29,773	$ 20,423

Basis of Presentation and Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($) home	Sep. 30, 2019 USD ($) lot	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Oct. 01, 2019 USD ($)
Summary of Significant Accounting Policies [Line Items]
Threshold number of homes below a minimum threshold of profitability		10	10
Measurement threshold of likelihood of being realized (percent)				50.00%
Customer deposits	$ 11,539	$ 11,539	$ 11,539	$ 11,539	$ 11,539	$ 14,903
Contract with customer, liability, revenue recognized					13,500
Refunded by buyer					1,300
Contract with customer, liability, remaining liability	$ 100	$ 100	$ 100	$ 100	100
Advertising costs					$ 17,900	17,600	$ 17,500
Accounting Standards Update 2016-02 \| Subsequent Event
Summary of Significant Accounting Policies [Line Items]
Lease liabilities								$ 18,000
Accounting Standards Update 2016-15
Summary of Significant Accounting Policies [Line Items]
Payment for debt extinguishment cost						$ 24,600	$ 9,000
Minimum
Summary of Significant Accounting Policies [Line Items]
Estimated time to develop, sell, construct and close all homes (in years)	3 years
Estimated future warranty costs as a percentage or revenue (percent)				0.30%
Maximum
Summary of Significant Accounting Policies [Line Items]
Estimated time to develop, sell, construct and close all homes (in years)	5 years
Estimated future warranty costs as a percentage or revenue (percent)				1.30%

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Supplemental disclosure of non-cash activity:
Non-cash land acquisitions	$ 0	$ 0	$ 14,651
Supplemental disclosure of cash activity:
Interest payments	101,109	95,857	100,125
Income tax payments	766	607	1,616
Tax refunds received	12	162	351
Cash and cash equivalents	106,741	139,805	292,147
Restricted cash	16,053	13,443	12,462
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 122,794	$ 153,248	304,609	$ 243,276
Non-cash seller financing			6,300
Lot takedown costs			$ 8,400

Investments in Unconsolidated Entities - Unconsolidated Entities (Details) - USD ($)	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investment in unconsolidated entities	$ 3,962,000	$ 4,035,000
Total equity of unconsolidated entities	9,969,000	10,113,000
Total outstanding borrowings of unconsolidated entities	12,658,000	12,266,000
Equity in income of unconsolidated entities	404,000	375,000	$ 371,000
Impairment of unconsolidated entity investment	0	(341,000)	0
Income (Loss) from Equity Method Investments	$ 404,000	$ 34,000	$ 371,000

Investments in Unconsolidated Entities - Narrative (Details) - USD ($)	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Schedule of Equity Method Investments [Line Items]
Impairment of unconsolidated entity investment	$ 0	$ (341,000)	$ 0
Financial Guarantee
Schedule of Equity Method Investments [Line Items]
Outstanding guarantees	$ 0	$ 0

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Real Estate [Abstract]
Homes under construction	$ 507,542	$ 476,752
Development projects in progress	738,201	907,793
Land held for future development	28,531	83,173
Land held for sale	12,662	7,781
Capitalized interest	136,565	144,645	$ 139,203	$ 138,108
Model homes	80,747	72,140
Total owned inventory	$ 1,504,248	$ 1,692,284

Inventory - Narrative (Details) $ in Thousands	12 Months Ended
Inventory - Narrative (Details) $ in Thousands	Sep. 30, 2019 USD ($) home Community	Sep. 30, 2019 USD ($) home lot Community	Sep. 30, 2019 USD ($) home Community	Sep. 30, 2019 USD ($) home Community	Sep. 30, 2018 USD ($) home Community	Sep. 30, 2017 USD ($) Community
Real Estate [Abstract]
Land held for sale impairments			6
Number of substantially completed homes not subject to a sales contract \| home	238	238	238	238	240
Total value of substantially completed homes \| $	$ 82,200	$ 82,200	$ 82,200	$ 82,200	$ 84,800
Threshold number of homes below a minimum threshold of profitability	10	10
Number of communities on watch list	2	2	2	2	4
Number of communities on watch list, subject to additional quantitative analysis					2
Impairment charge \| $				$ 110,030	$ 1,005	$ 1,693
Number of communities impaired			10		1	1

Inventory - Total Owned Inventory by Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Projects in Progress	$ 1,463,055	$ 1,601,330
Land Held for Future Development	28,531	83,173
Land Held for Sale	12,662	7,781
Total owned inventory	1,504,248	1,692,284
Corporate and unallocated
Segment Reporting Information [Line Items]
Projects in Progress	192,287	198,990
Land Held for Future Development	0	0
Land Held for Sale	0	24
Total owned inventory	192,287	199,014
West Segment
Segment Reporting Information [Line Items]
Projects in Progress	723,094	763,453
Land Held for Future Development	3,483	58,125
Land Held for Sale	5,160	0
Total owned inventory	731,737	821,578
East Segment
Segment Reporting Information [Line Items]
Projects in Progress	228,937	280,761
Land Held for Future Development	14,077	14,077
Land Held for Sale	4,104	4,580
Total owned inventory	247,118	299,418
Southeast Segment
Segment Reporting Information [Line Items]
Projects in Progress	318,737	358,126
Land Held for Future Development	10,971	10,971
Land Held for Sale	3,398	3,177
Total owned inventory	$ 333,106	$ 372,274

Inventory - Results of Discounted Cash Flow Analysis (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2019 USD ($) lot Community	Sep. 30, 2018 USD ($) lot Community	Sep. 30, 2017 USD ($) lot Community
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired \| Community	10	1	1
Number of Lots Impaired \| lot	854	25	46
Impairment Charge	$ 110,030	$ 1,005	$ 1,693
Estimated Fair Value of Impaired Inventory at Time of Impairment	$ 84,982	$ 1,312	$ 3,791
Corporate and unallocated \| Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired \| Community	0	0	0
Number of Lots Impaired \| lot	0	0	0
Impairment Charge	$ 16,260	$ 212	$ 68
Estimated Fair Value of Impaired Inventory at Time of Impairment	$ 14,166	$ 0	$ 0
West \| Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired \| Community			1
Number of Lots Impaired \| lot			46
Impairment Charge			$ 1,625
Estimated Fair Value of Impaired Inventory at Time of Impairment			$ 3,791
West \| Operating Segments \| Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired \| Community	9
Number of Lots Impaired \| lot	839
Impairment Charge	$ 92,912
Estimated Fair Value of Impaired Inventory at Time of Impairment	$ 69,449
Southeast \| Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Number of communities impaired \| Community	1	1
Number of Lots Impaired \| lot	15	25
Impairment Charge	$ 858	$ 793
Estimated Fair Value of Impaired Inventory at Time of Impairment	$ 1,367	$ 1,312

Inventory - Inventory Impairments and Lot Option Abandonment Charges, by Reportable Segment (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2019 parcel	Sep. 30, 2019 USD ($) lot Community	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)
Real Estate, Write-down or Reserve [Line Items]
Land Held for Sale		$ 38,600	$ 5,900	$ 600
Total impairment and abandonment charges		$ 148,618	6,949	2,445
Land held for sale impairments \| Community		6
Number Of Parcels Sold \| parcel	2
Continuing Operations
Real Estate, Write-down or Reserve [Line Items]
Projects in progress		$ 110,030	1,005	1,693
Land Held for Sale		38,588	5,494	564
Abandonments		0	0	188
Total impairment and abandonment charges		148,618	6,499	2,445
Total impairment and abandonment charges		148,618	6,949	2,445
Continuing Operations \| Corporate and unallocated
Real Estate, Write-down or Reserve [Line Items]
Projects in progress		16,260	212	68
Land Held for Sale		625	2,108	0
Continuing Operations \| West
Real Estate, Write-down or Reserve [Line Items]
Projects in progress		92,912	0	1,625
Land Held for Sale		37,963	0	94
Continuing Operations \| East
Real Estate, Write-down or Reserve [Line Items]
Land Held for Sale		0	168	470
Abandonments		0	0	188
Continuing Operations \| Southeast
Real Estate, Write-down or Reserve [Line Items]
Projects in progress		858	793	0
Land Held for Sale		0	3,218	0
Discontinued Operations
Real Estate, Write-down or Reserve [Line Items]
Land Held for Sale		0	450	0
Total impairment and abandonment charges		$ 0	$ 450	$ 0
California
Real Estate, Write-down or Reserve [Line Items]
Number of lots \| lot		732

Inventory Inventory - Quantitative Unobservable Inputs (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2019 USD ($) home	Sep. 30, 2018 USD ($) home	Sep. 30, 2017 USD ($) home
Quantitative unobservable inputs for inventory impairment [Line Items]
Average selling price (in thousands)		$ 356	$ 405
Minimum
Quantitative unobservable inputs for inventory impairment [Line Items]
Average selling price (in thousands)	$ 350
Closings per community per month \| home	1	1	1
Maximum
Quantitative unobservable inputs for inventory impairment [Line Items]
Average selling price (in thousands)	$ 615
Closings per community per month \| home	4	6	4
Discount Rate
Quantitative unobservable inputs for inventory impairment [Line Items]
Discount rate		0.1511	0.1283
Discount Rate \| Minimum
Quantitative unobservable inputs for inventory impairment [Line Items]
Discount rate	0.1470
Discount Rate \| Maximum
Quantitative unobservable inputs for inventory impairment [Line Items]
Discount rate	0.1680

Interest (Details) - USD ($) $ in Thousands	12 Months Ended
Interest (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in inventory, beginning of period	$ 144,645	$ 139,203	$ 138,108
Interest incurred	103,970	103,880	105,551
Capitalized interest impaired	(13,907)	(1,961)	(56)
Interest expense not qualified for capitalization and included as other expense	(3,109)	(5,325)	(15,636)
Capitalized interest amortized to home construction and land sales expenses	(95,034)	(91,152)	(88,764)
Capitalized interest in inventory, end of period	$ 136,565	$ 144,645	$ 139,203

Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 53,034	$ 55,214
Less: Accumulated Depreciation	(25,613)	(34,371)
Property and equipment, net	27,421	20,843
Model furnishings and sales office improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	21,114	28,311
Information systems
Property, Plant and Equipment [Line Items]
Property and equipment, gross	15,045	13,183
Furniture, fixtures and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,068	9,332
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,136	4,388
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,671	$ 0

Borrowings - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 09, 2019	Sep. 30, 2018	Jun. 15, 2006
Debt Instrument [Line Items]
Total debt (net of premium and debt issuance costs)	$ 1,178,309		$ 1,231,254
Unamortized debt premium, net	0		2,640
Senior Notes
Debt Instrument [Line Items]
Senior Unsecured Term Loan (Term Loan)		$ 150,000	0
Total debt (net of premium and debt issuance costs)	1,111,085		1,163,138
Unamortized debt premium, net	0		2,640
Unamortized debt issuance costs	$ (12,470)		(14,336)
Senior Notes \| 8 3/4% Senior Notes Maturing March 2022
Debt Instrument [Line Items]
Debt instrument stated interest rate (percent)	8.75%
Total debt (net of premium and debt issuance costs)	$ 0		500,000
Senior Notes \| 7 1/4% Senior Notes Maturing February 2023
Debt Instrument [Line Items]
Debt instrument stated interest rate (percent)	7.25%
Total debt (net of premium and debt issuance costs)	$ 0		24,834
Senior Notes \| 6 3/4% Senior Notes Maturing March of 2025
Debt Instrument [Line Items]
Debt instrument stated interest rate (percent)	6.75%
Total debt (net of premium and debt issuance costs)	$ 229,555		250,000
Senior Notes \| 5 7/8% Senior Notes Maturing October 2027
Debt Instrument [Line Items]
Debt instrument stated interest rate (percent)	5.88%
Total debt (net of premium and debt issuance costs)	$ 394,000		400,000
Senior Notes \| 7 1/4% Senior Notes Maturing October 2029
Debt Instrument [Line Items]
Debt instrument stated interest rate (percent)	7.25%
Total debt (net of premium and debt issuance costs)	$ 350,000		0
Senior Notes \| Senior Unsecured Term Loans September 2022
Debt Instrument [Line Items]
Debt instrument stated interest rate (percent)		4.875%
Junior Subordinated Notes (net of unamortized accretion of $34,703 and $36,770, respectively)
Debt Instrument [Line Items]
Debt instrument stated interest rate (percent)				7.987%
Total debt (net of premium and debt issuance costs)	66,070		64,003
Other Secured Notes Payable
Debt Instrument [Line Items]
Total debt (net of premium and debt issuance costs)	$ 1,154		$ 4,113

Borrowings - Schedule of Future Debt Maturities (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Debt Disclosure [Abstract]
2020	$ 51,154
2021	50,000
2022	50,000
2023	0
2024	0
Thereafter	1,074,328
Total	$ 1,225,482

Borrowings - Narrative (Details)		1 Months Ended			3 Months Ended								9 Months Ended	12 Months Ended
Borrowings - Narrative (Details)	Sep. 09, 2019 USD ($)	Sep. 30, 2019 USD ($) lender	Sep. 30, 2018 USD ($)	Oct. 31, 2017 USD ($)	Sep. 30, 2019 USD ($) lender	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jun. 30, 2019 USD ($)	Sep. 30, 2019 USD ($) lender	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 01, 2019 USD ($)	Aug. 31, 2019 USD ($)	May 31, 2018 USD ($)	Jan. 15, 2010 USD ($)	Jun. 15, 2006
Senior Notes [Abstract]
Beazer homes' ownership interest in guarantor subsidiaries		100.00%			100.00%									100.00%
Loss on extinguishment of debt, net					$ 25,494,000	$ (358,000)	$ (216,000)	$ 0	$ 1,935,000	$ 0	$ 0	$ 25,904,000		$ 24,920,000	$ 27,839,000	$ 12,630,000
Non-cash (gain) loss on extinguishment of debt												3,200,000	$ 300,000
Loss on extinguishment of debt, before write off of debt issuance cost													600,000
Secured Debt [Abstract]
Total debt (net of premium and debt issuance costs)		$ 1,178,309,000	$ 1,231,254,000		1,178,309,000				1,231,254,000					1,178,309,000	1,231,254,000
Senior Notes
Senior Notes [Abstract]
Redemption of senior notes												34,500,000
Loss on extinguishment of debt, net														24,900,000
Non-cash (gain) loss on extinguishment of debt														2,400,000
Secured Debt [Abstract]
Total debt (net of premium and debt issuance costs)		$ 1,111,085,000	1,163,138,000		$ 1,111,085,000				1,163,138,000					$ 1,111,085,000	1,163,138,000
Senior Notes \| Senior Unsecured Term Loans September 2022
Senior Unsecured Term Loan [Abstract]
Periodic payment	$ 50,000,000
Senior Notes [Abstract]
Debt instrument stated interest rate (percent)	4.875%
Junior Subordinated Notes [Abstract]
Aggregate principal amount of debt	$ 150,000,000
Senior Notes \| 7 1/4% Senior Notes Maturing October 2029
Senior Notes [Abstract]
Debt instrument stated interest rate (percent)		7.25%			7.25%									7.25%
Debt instrument, redemption price (percent)														107.25%
Percentage of principal amount redeemed														35.00%
Percentage of principal amount outstanding after redemption														65.00%
Junior Subordinated Notes [Abstract]
Aggregate principal amount of debt		$ 350,000,000.0			$ 350,000,000.0									$ 350,000,000.0
Secured Debt [Abstract]
Total debt (net of premium and debt issuance costs)		350,000,000	0		$ 350,000,000				0					$ 350,000,000	0
Senior Notes \| 8.75% Unsecured Senior Notes March 2022
Senior Notes [Abstract]
Redemption of senior notes		500,000,000
Loss on extinguishment of debt, net		25,200,000
Non-cash (gain) loss on extinguishment of debt		$ 1,900,000
Senior Notes \| 5.75% Unsecured Senior Notes due 2019
Senior Notes [Abstract]
Loss on extinguishment of debt, net												(225,000,000)
Senior Notes \| 7.25% Unsecured Senior Notes due 2023
Senior Notes [Abstract]
Loss on extinguishment of debt, net												$ (175,000,000)
Senior Notes \| 5 3/4% Senior Notes Maturing June 2019
Senior Notes [Abstract]
Redemption of senior notes			98,200,000
Loss on extinguishment of debt, net			1,900,000
Non-cash (gain) loss on extinguishment of debt			100,000
Senior Notes \| 5.875% Unsecured Senior Notes
Junior Subordinated Notes [Abstract]
Aggregate principal amount of debt				$ 400,000,000.0
Senior Notes \| 6 3/4% Senior Notes Maturing March of 2025
Senior Notes [Abstract]
Debt instrument stated interest rate (percent)		6.75%			6.75%									6.75%
Debt instrument, redemption price (percent)														106.75%
Percentage of principal amount redeemed														35.00%
Percentage of principal amount outstanding after redemption														65.00%
Secured Debt [Abstract]
Total debt (net of premium and debt issuance costs)		$ 229,555,000	250,000,000		$ 229,555,000				250,000,000					$ 229,555,000	250,000,000
Senior Notes \| 7 1/4% Senior Notes Maturing February 2023
Senior Notes [Abstract]
Redemption of senior notes					$ 23,700,000
Debt instrument stated interest rate (percent)		7.25%			7.25%									7.25%
Secured Debt [Abstract]
Total debt (net of premium and debt issuance costs)		$ 0	24,834,000		$ 0				24,834,000					$ 0	24,834,000
Senior Notes \| 7.25% Unsecured Senior Notes due Maturing February 2023
Senior Notes [Abstract]
Redemption of senior notes													1,200,000
Loss on extinguishment of debt, net					300,000
Non-cash (gain) loss on extinguishment of debt					200,000
Senior Notes \| 6.75% Unsecured Senior Notes due Maturing March 2025
Senior Notes [Abstract]
Redemption of senior notes													$ 20,400,000
Senior Notes \| 5.85% Unsecured Senior Notes due Maturing October 2027
Senior Notes [Abstract]
Redemption of senior notes					6,000,000
Senior Notes \| June 2019 and February 2023 Notes
Senior Notes [Abstract]
Loss on extinguishment of debt, net															27,800,000
Junior Subordinated Notes
Senior Notes [Abstract]
Debt instrument stated interest rate (percent)																					7.987%
Junior Subordinated Notes [Abstract]
Effective period of debt instrument interest rate														10 years
Aggregate principal amount of debt																				$ 75,000,000
Unamortized discount		34,703,000	36,770,000		34,703,000				36,770,000					$ 34,703,000	36,770,000
Secured Debt [Abstract]
Total debt (net of premium and debt issuance costs)		$ 66,070,000	64,003,000		$ 66,070,000				64,003,000					$ 66,070,000	64,003,000
Weighted average fixed interest rate of debt (percent)		4.72%			4.72%									4.72%
Other Secured Notes Payable
Secured Debt [Abstract]
Total debt (net of premium and debt issuance costs)		$ 1,154,000	4,113,000		$ 1,154,000				4,113,000					$ 1,154,000	4,113,000
Weighted average fixed interest rate of debt (percent)		6.00%			6.00%									6.00%
Secured Revolving Credit Facility
Line of Credit Facility [Abstract]
Maximum borrowing capacity			200,000,000						200,000,000						200,000,000		$ 250,000,000	$ 210,000,000
Inventory assets pledged as collateral		$ 936,000,000			$ 936,000,000									$ 936,000,000				$ 800,000,000
Aggregate collateral ratio		4			4									4
Line of credit facility, number of lenders \| lender		4			4									4
Line of credit facility, remaining borrowing capacity		$ 250,000,000			$ 250,000,000									$ 250,000,000
Letter of Credit
Line of Credit Facility [Abstract]
Letters of credit secured using cash collateral		14,100,000	$ 10,400,000		14,100,000				$ 10,400,000					14,100,000	$ 10,400,000
Standby Letters of Credit \| Issuance Capacity
Line of Credit Facility [Abstract]
Maximum borrowing capacity																			$ 50,000,000.0
Standby Letters of Credit \| Standby Letter for Credit Facility
Line of Credit Facility [Abstract]
Letters of credit secured using cash collateral		$ 34,200,000			$ 34,200,000									$ 34,200,000
Standby Letters of Credit \| Backstop Standby Letters of Credit
Line of Credit Facility [Abstract]
Maximum borrowing capacity																			$ 40,000,000.0
Debt Instrument, Redemption, Period One \| Senior Notes \| 7 1/4% Senior Notes Maturing October 2029
Senior Notes [Abstract]
Debt instrument, redemption price (percent)														100.00%
Debt Instrument, Redemption, Period One \| Senior Notes \| 5.875% Unsecured Senior Notes
Senior Notes [Abstract]
Debt instrument, redemption price (percent)				100.00%
Debt Instrument, Redemption, Period One \| Senior Notes \| 6 3/4% Senior Notes Maturing March of 2025
Senior Notes [Abstract]
Debt instrument, redemption price (percent)														100.00%
Debt Instrument, Redemption, Period Two \| Senior Notes \| 7 1/4% Senior Notes Maturing October 2029
Senior Notes [Abstract]
Debt instrument, redemption price (percent)														103.325%
Debt Instrument, Redemption, Period Two \| Senior Notes \| 6 3/4% Senior Notes Maturing March of 2025
Senior Notes [Abstract]
Debt instrument, redemption price (percent)														105.063%

Borrowings - Schedule of Debt Redemption (Details) - Senior Notes	12 Months Ended
	Sep. 30, 2019
8 3/4% Senior Notes Maturing March 2022
Debt Instrument, Redemption [Line Items]
Debt instrument stated interest rate (percent)	8.75%
7 1/4% Senior Notes Maturing February 2023
Debt Instrument, Redemption [Line Items]
Debt instrument stated interest rate (percent)	7.25%
6 3/4% Senior Notes Maturing March of 2025
Debt Instrument, Redemption [Line Items]
Debt instrument stated interest rate (percent)	6.75%
Debt instrument, redemption price (percent)	106.75%
Percentage of principal amount redeemed	35.00%
Percentage of principal amount outstanding after redemption	65.00%
6 3/4% Senior Notes Maturing March of 2025 \| Debt Instrument, Redemption, Period One
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	100.00%
6 3/4% Senior Notes Maturing March of 2025 \| Debt Instrument, Redemption, Period Two
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	105.063%
6 3/4% Senior Notes Maturing March of 2025 \| Debt Instrument, Redemption, Period Three
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	103.375%
6 3/4% Senior Notes Maturing March of 2025 \| Debt Instrument, Redemption, Period Four
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	101.688%
6 3/4% Senior Notes Maturing March of 2025 \| Debt Instrument, Redemption, Period Five
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	100.00%
5 7/8% Senior Notes Maturing October 2027
Debt Instrument, Redemption [Line Items]
Debt instrument stated interest rate (percent)	5.88%
Debt instrument, redemption price (percent)	105.875%
Percentage of principal amount redeemed	35.00%
Percentage of principal amount outstanding after redemption	65.00%
5 7/8% Senior Notes Maturing October 2027 \| Debt Instrument, Redemption, Period One
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	100.00%
5 7/8% Senior Notes Maturing October 2027 \| Debt Instrument, Redemption, Period Two
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	102.938%
5 7/8% Senior Notes Maturing October 2027 \| Debt Instrument, Redemption, Period Three
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	101.958%
5 7/8% Senior Notes Maturing October 2027 \| Debt Instrument, Redemption, Period Four
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	100.979%
5 7/8% Senior Notes Maturing October 2027 \| Debt Instrument, Redemption, Period Five
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	100.00%
7 1/4% Senior Notes Maturing October 2029
Debt Instrument, Redemption [Line Items]
Debt instrument stated interest rate (percent)	7.25%
Debt instrument, redemption price (percent)	107.25%
Percentage of principal amount redeemed	35.00%
Percentage of principal amount outstanding after redemption	65.00%
7 1/4% Senior Notes Maturing October 2029 \| Debt Instrument, Redemption, Period One
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	100.00%
7 1/4% Senior Notes Maturing October 2029 \| Debt Instrument, Redemption, Period Two
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	103.325%
7 1/4% Senior Notes Maturing October 2029 \| Debt Instrument, Redemption, Period Three
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	102.417%
7 1/4% Senior Notes Maturing October 2029 \| Debt Instrument, Redemption, Period Four
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	101.208%
7 1/4% Senior Notes Maturing October 2029 \| Debt Instrument, Redemption, Period Five
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price (percent)	100.00%

Contingencies - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended		63 Months Ended
Contingencies - Narrative (Details) $ in Thousands	Mar. 31, 2019 Community	Sep. 30, 2019 USD ($) home	Sep. 30, 2018 USD ($)	Sep. 30, 2019 USD ($) home	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)
Loss Contingencies [Line Items]
Limited product warranty length		10 years
Accrued warranty expenses		$ 13,388	$ 15,331	$ 13,388	$ 18,091	$ 39,131
Insurance recoveries		(400)	(200)
Accrued amounts for litigation and other contingent liabilities		3,400	3,700	3,400
California
Loss Contingencies [Line Items]
Number of communities \| Community	15
Specific Warranty Issue
Loss Contingencies [Line Items]
Product warranty expense				$ 82,400
Specific Warranty Issue \| Florida
Loss Contingencies [Line Items]
Product warranty expense		$ 700	600
Numer of homes likely to require more than minor repairs \| home		707		707
Number of homes that have been repaired \| home		686		686
Accrued product warranty, decrease for payments		$ 500
Accrued warranty expenses		500	$ 1,700	$ 500
Performance Bonds
Loss Contingencies [Line Items]
Letters of credit secured using cash collateral		48,300		48,300
Cash collateral in restricted accounts securing letters of credit		$ 276,500		$ 276,500
Minimum
Loss Contingencies [Line Items]
Standard product warranty period		1 year
Maximum
Loss Contingencies [Line Items]
Standard product warranty period		2 years

Contingencies - Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
Contingencies - Warranty (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 15,331	$ 18,091	$ 39,131
Accruals for warranties issued	11,847	13,755	14,215
Changes in liability related to warranties existing in prior periods	(1,686)	(2,401)	4,807
Payments made	(12,104)	(14,114)	(40,062)
Balance at end of period	$ 13,388	$ 15,331	$ 18,091

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Impairment of projects in process	$ 110.0	$ 1.0	$ 1.7
Impairment of land held for sale	$ 38.6	$ 5.9	$ 0.6

Fair Value Measurements - Fair Value Assets Measured on a Non-recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 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	$ 1,970	$ 1,578	$ 1,114
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	0	0	0
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	1,970	1,578	1,114
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	0	0	0
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress	84,982	1,312	3,791
Land held for sale	5,207	1,724	325
Unconsolidated entity investments		80
Fair Value, Measurements, Nonrecurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress	0	0	0
Land held for sale	0	0
Unconsolidated entity investments		0
Fair Value, Measurements, Nonrecurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress	0	0	0
Land held for sale	0	0
Unconsolidated entity investments		0
Fair Value, Measurements, Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Development projects in progress	84,982	1,312	3,791
Land held for sale	$ 5,207	1,724	$ 325
Unconsolidated entity investments		$ 80

Fair Value Measurements - Carrying Values and Estimated Fair Values of Other Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 1,111,085	$ 1,163,138
Junior Subordinated Notes (c)	66,070	64,003
Total debt, net	1,177,155	1,227,141
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,115,011	1,096,214
Junior Subordinated Notes (c)	66,070	64,003
Total debt, net	$ 1,181,081	$ 1,160,217

Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Operating Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Leases [Abstract]
Rental expense	$ 5,800	$ 4,800	$ 4,900
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2020	4,749
2021	4,537
2022	3,644
2023	2,853
2024	1,818
Thereafter	2,551
Total	$ 20,152

Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Other Liabilities [Abstract]
Accrued bonus and deferred compensation	$ 36,237	$ 41,508
Accrued warranty expenses	13,388	15,331	$ 18,091	$ 39,131
Accrued Interest	12,767	14,401
Customer Deposits	11,539	14,903
Litigation accrual	3,420	3,656
Income tax liabilities	648	710
Other	31,430	35,880
Total	$ 109,429	$ 126,389

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Current federal (a)	$ (4,935)	$ 57	$ 0
Current state	693	512	859
Deferred federal	(31,291)	102,082	1,625
Deferred state	(1,684)	(8,167)	212
Total (benefit) / expense	$ (37,217)	$ 94,484	$ 2,696

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income tax computed at statutory rate	$ (24,494)	$ 12,112	$ 12,052
State income taxes, net of federal benefit	(590)	111	1,287
Deferred rate change	(88)	110,071	0
Decrease in valuation allowance - other	0	(27,370)	(3,482)
Changes in uncertain tax positions	(7)	598	(685)
Stock based compensation	0	0	741
Permanent differences	2,908	2,133	496
Tax credits	(14,902)	(3,174)	(7,460)
Other, net	(44)	3	(253)
Total (benefit) / expense	$ (37,217)	$ 94,484	2,696
Income Tax Contingency [Line Items]
Federal tax rate for fiscal year provision, percent		24.50%
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Valuation allowances and reserves, adjustments		$ 27,400	$ 3,500

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018
Deferred tax assets:
Federal and state tax carryforwards	$ 208,360	$ 196,702
Inventory adjustments	42,605	29,565
Intangible assets	17,209	192
Incentive compensation	9,360	11,959
Warranty and other reserves	4,302	6,350
Property, equipment and other assets	2,255	2,123
Uncertain tax positions	729	734
Other	623	542
Total deferred tax assets	285,443	248,167
Valuation allowance	(38,486)	(34,212)
Net deferred tax assets	$ 246,957	$ 213,955

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Income Tax Contingency [Line Items]
Federal net operating loss carryforwards	$ 132,200
State net operating loss carryforwards	42,300
Alternative minimum tax credit	4,600
General business credits	32,700
Income tax receivable	4,935	$ 0
(Benefit) expense from income taxes	(37,217)	94,484	$ 2,696
Decrease in valuation allowance	0	(27,370)	(3,482)
Pre-tax income required to realize deferred tax assets prior to expiration	944,000
Deferred tax asset valuation allowance	38,486	34,212
Unrecognized tax benefits	3,473	3,494	3,804	$ 4,541
Uncertain tax positions to be reserved within twelve months	$ 32
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Valuation allowances and reserves, adjustments		$ 27,400	$ 3,500

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 3,494	$ 3,804	$ 4,541
Additions for tax positions related to current year	0	0	61
Additions for tax positions related to prior years	0	0	2,611
Reductions in tax positions of prior years	0	0	(2,273)
Lapse of statute of limitations	(21)	(310)	(1,136)
Balance at end of year	$ 3,473	$ 3,494	$ 3,804

Stockholders' Equity - Accelerated Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	1 Months Ended		12 Months Ended
	May 31, 2019	Nov. 30, 2018	Sep. 30, 2019
Accelerated Share Repurchases [Line Items]
Aggregate repurchased value			$ 34,624
Agreement Amount	$ 10,000	$ 16,500
Initial Shares Delivered (in shares)	0.9	1.3
Additional Shares Delivered (in shares)	0.1	0.3
Total Shares Delivered (in shares)	1.0	1.6
Average Price Per Share (in dollars per share)	$ 9.87	$ 10.62
Accelerated Share Repurchase Agreement
Accelerated Share Repurchases [Line Items]
Share repurchases (in shares)			0.7
Aggregate repurchased value			$ 8,100
Average price per share (in dollars per share)			$ 11.35

Stockholders' Equity - Narrative (Details) - USD ($)	12 Months Ended
Stockholders' Equity - Narrative (Details) - USD ($)	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2018
Equity [Abstract]
Preferred stock outstanding (in shares)	0
Common stock authorized (in shares)	63,000,000	63,000,000
Common stock issued (in shares)	30,933,110	33,522,046
Authorized amount repurchase of common stock				$ 50,000,000
Common stock outstanding (in shares)	30,933,110	33,522,046
Aggregate repurchased value	$ (34,624,000)
Remaining availability repurchase amount	15,400,000
Value of redeemed stock	1,969,000	$ 3,378,000	$ 415,000
Dividends paid	$ 0	$ 0	$ 0
382 ownership limitation	4.95%

Retirement and Deferred Compensation Plan - 401(k) Retirement Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution percentage	50.00%
Percentage of maximum contributions per employee	6.00%
Contribution vesting period	5 years
Employer contribution amount	$ 3.6	$ 3.3	$ 3.0
Total matching contributions forfeited by plan participants during period	$ 0.7	$ 0.7	$ 0.6
Minimum
Defined Contribution Plan Disclosure [Line Items]
Percentage of employee deferral or contribution	1.00%
Maximum
Defined Contribution Plan Disclosure [Line Items]
Percentage of employee deferral or contribution	80.00%

Retirement and Deferred Compensation Plan - Deferred Compensation Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accrued bonus and deferred compensation	$ 36,237	$ 41,508
Deferred Compensation Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred compensation plan assets	2,000	1,600
Accrued bonus and deferred compensation	4,900	4,600
Employer contribution to deferred compensation plan	$ 200	$ 200	$ 300

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended			48 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2019	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved for issuance under plan (in shares)	1,700,000			1,700,000
Number of shares of common stock available for future grants (in shares)	1,200,000			1,200,000
Intrinsic value of stock options exercisable	$ 1.1			$ 1.1
Intrinsic value of stock options vested and expected to vest	1.0			1.0
Intrinsic value of stock options outstanding	$ 0.9			$ 0.9
Employee stock option program (EOP), authorized shares (in shares)	100,000			100,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period to recognize remaining cost	1 year 1 month 25 days
Unrecognized compensation cost	$ 0.1	$ 0.2		$ 0.1
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted in period (in shares)	30,782
Employee purchase plan (EOP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Performance-based restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance share awards to be vested	778,814	644,785	668,766	778,814	448,693
Estimated fair value of nonvested stock (in dollars per share)	$ 9.95	$ 22.40	$ 13.60
Performance-based restricted stock \| 2019 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted in period (in shares)	381,769
Performance share awards to be vested	390,043			390,043
Compensation cost related to performance based awards	$ 2.7	$ 2.0	$ 1.0	$ 5.9
Unrecognized compensation cost	$ 0.2			$ 0.2
Award vesting period	3 years
Performance-based restricted stock \| 2019 Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	0.00%
Performance-based restricted stock \| 2019 Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	175.00%
Total Shareholder Return Performance Share \| 2019 Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage	20.00%
Estimated fair value of nonvested stock (in dollars per share)	$ 10.50
Restricted stock awards expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period to recognize remaining cost	1 year 8 months 1 day
Performance share awards to be vested	1,390,421	1,076,568	1,540,947	1,390,421	1,255,817
Unrecognized compensation cost	$ 9.0	$ 8.8		$ 9.0
Estimated fair value of nonvested stock (in dollars per share)	$ 9.89	$ 20.26	$ 13.04
Restricted stock awards expense \| 2016 Time-based Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted in period (in shares)	448,657

Stock-Based Compensation - Schedule of Compensation Cost for Share-based Payment (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 10,526	$ 10,258	$ 8,159
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	178	225	274
Restricted stock awards expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 10,348	$ 10,033	$ 7,885

Stock-Based Compensation - Schedule of Assumptions for Stock Options Granted (Details) - $ / shares	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividends	0.00%	0.00%	0.00%
Weighted-average risk-free interest rate	2.92%	1.81%	1.30%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options	5 years	5 years	5 years 4 months 17 days
Expected volatility	46.69%	44.71%	50.10%
Expected dividends	0.00%	0.00%	0.00%
Weighted-average risk-free interest rate	2.70%	2.10%	1.85%
Weighted average fair value (in dollars per share)	$ 4.50	$ 8.30	$ 5.83

Stock-Based Compensation - Schedule of Stock Options and SSARs Outstanding and Related Activity (Details) - Stock Options - $ / shares	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Shares [Roll Forward]
Outstanding at beginning of period (in shares)	533,052	593,753	672,669
Granted (in shares)	30,782	25,230	29,410
Exercised (in shares)	(31,450)	(8,411)	(2,313)
Expired (in shares)	0	(61,967)	(84,976)
Canceled (in shares)	0	0	(480)
Forfeited (in shares)	(8,630)	(15,553)	(20,557)
Outstanding at end of period (in shares)	523,754	533,052	593,753
Exercisable at end of period (in shares)	470,501	479,538	476,606
Vested or expected to vet in the future (in shares)	521,362	533,052	585,186
Weighted-Average Exercise Price [Roll Forward]
Outstanding at beginning or period (in dollars per share)	$ 14.26	$ 14.76	$ 16.49
Granted (in dollars per share)	10.23	19.99	12.50
Exercised (in dollars per share)	10.00	7.52	10.80
Expired (in dollars per share)	0.00	23.19	28.45
Canceled (in dollars per share)	0.00	0.00	23.65
Forfeited (in dollars per share)	10.45	10.46	11.97
Outstanding at end of period (in dollars per share)	14.34	14.26	14.76
Exercisable at end of period (in dollars per share)	14.42	14.03	15.91
Vested or expected to vest in the future (in dollars per share)	$ 14.36	$ 14.26	$ 14.83

Stock-Based Compensation - Schedule of Stock Options and SSARs Outstanding and Exercisable (Details) - Stock Options - $ / shares	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options Outstanding, Number Outstanding (in shares)	523,754	533,052	593,753	672,669
Stock Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 14.34	$ 14.26	$ 14.76	$ 16.49
Stock Options Exercisable, Number Exercisable (in shares)	470,501	479,538	476,606
Stock Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 14.42	$ 14.03	$ 15.91
$1 - $10
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options - exercise price range, lower limit (in dollars per share)	1
Stock options - exercise price range, upper limit (in dollars per share)	$ 10
Stock Options Outstanding, Number Outstanding (in shares)	138,472
Stock Options Outstanding - Weighted Average Contractual Remaining Life (Years)	2 years 5 months 22 days
Stock Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 9.79
Stock Options Exercisable, Number Exercisable (in shares)	116,980
Stock Options Exercisable - Weighted Average Contractual Remaining Life (Years)	1 year 7 months 2 days
Stock Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 9.77
$11 - $15
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options - exercise price range, lower limit (in dollars per share)	11
Stock options - exercise price range, upper limit (in dollars per share)	$ 15
Stock Options Outstanding, Number Outstanding (in shares)	212,240
Stock Options Outstanding - Weighted Average Contractual Remaining Life (Years)	2 years 3 months 16 days
Stock Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 13.28
Stock Options Exercisable, Number Exercisable (in shares)	196,266
Stock Options Exercisable - Weighted Average Contractual Remaining Life (Years)	1 year 12 months
Stock Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 13.38
$16 - $20
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options - exercise price range, lower limit (in dollars per share)	16
Stock options - exercise price range, upper limit (in dollars per share)	$ 20
Stock Options Outstanding, Number Outstanding (in shares)	173,042
Stock Options Outstanding - Weighted Average Contractual Remaining Life (Years)	2 years 8 months 29 days
Stock Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 19.30
Stock Options Exercisable, Number Exercisable (in shares)	157,255
Stock Options Exercisable - Weighted Average Contractual Remaining Life (Years)	2 years 3 months 22 days
Stock Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 19.19
$1 - $20
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options - exercise price range, lower limit (in dollars per share)	1
Stock options - exercise price range, upper limit (in dollars per share)	$ 20
Stock Options Outstanding, Number Outstanding (in shares)	523,754
Stock Options Outstanding - Weighted Average Contractual Remaining Life (Years)	2 years 5 months 17 days
Stock Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 14.34
Stock Options Exercisable, Number Exercisable (in shares)	470,501
Stock Options Exercisable - Weighted Average Contractual Remaining Life (Years)	1 year 12 months 2 days
Stock Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 14.42

Stock-Based Compensation - Intrinsic and Fair Market Value of Options (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Share-based Payment Arrangement [Abstract]
Intrinsic value of options exercised	$ 90	$ 76	$ 13
Fair market value of options vested	$ 178	$ 296	$ 482

Stock-Based Compensation - Fair Value Assumptions (Details) - $ / shares	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Share-based Payment Arrangement [Abstract]
Expected volatility (minimum)	21.00%	21.10%	32.60%
Expected volatility (maximum)	57.10%	61.20%	66.00%
Risk-free interest rate	2.92%	1.81%	1.30%
Dividend yield	0.00%	0.00%	0.00%
Grant-date stock price (in dollars per share)	$ 9.82	$ 20.50	$ 12.51

Stock-Based Compensation - Schedule of Nonvested Stock Awards and Performance Shares (Details) - $ / shares	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Performance-based restricted stock
Shares [Roll Forward]
Beginning of period (in shares)	644,785	668,766	448,693
Granted (in shares)	467,819	165,085	263,696
Vested (in shares)	(321,833)	0	0
Forfeited (in shares)	(11,957)	(189,066)	(43,623)
End of period (in shares)	778,814	644,785	668,766
Weighted-Average Grant Date Fair Value ($ per share) [Roll Forward]
Beginning of period (in dollars per share)	$ 16.47	$ 15.72	$ 16.71
Granted (in dollars per share)	9.95	22.40	13.60
Vested (in dollars per share)	15.36	0.00	0.00
Forfeited (in dollars per share)	13.44	18.98	13.11
End of period (in dollars per share)	$ 13.60	$ 16.47	$ 15.72
Time-based restricted stock
Shares [Roll Forward]
Beginning of period (in shares)	431,783	872,181	807,124
Granted (in shares)	448,657	277,165	271,855
Vested (in shares)	(212,558)	(690,922)	(189,029)
Forfeited (in shares)	(56,275)	(26,641)	(17,769)
End of period (in shares)	611,607	431,783	872,181
Weighted-Average Grant Date Fair Value ($ per share) [Roll Forward]
Beginning of period (in dollars per share)	$ 16.60	$ 16.47	$ 17.52
Granted (in dollars per share)	9.82	18.98	12.50
Vested (in dollars per share)	16.41	17.38	15.52
Forfeited (in dollars per share)	12.20	17.02	14.08
End of period (in dollars per share)	$ 12.11	$ 16.60	$ 16.47
Restricted stock awards expense
Shares [Roll Forward]
Beginning of period (in shares)	1,076,568	1,540,947	1,255,817
Granted (in shares)	916,476	442,250	535,551
Vested (in shares)	(534,391)	(690,922)	(189,029)
Forfeited (in shares)	(68,232)	(215,707)	(61,392)
End of period (in shares)	1,390,421	1,076,568	1,540,947
Weighted-Average Grant Date Fair Value ($ per share) [Roll Forward]
Beginning of period (in dollars per share)	$ 16.53	$ 16.15	$ 17.23
Granted (in dollars per share)	9.89	20.26	13.04
Vested (in dollars per share)	15.78	17.38	15.52
Forfeited (in dollars per share)	12.42	18.74	13.39
End of period (in dollars per share)	$ 16.53	$ 16.53	$ 16.15
Performance-Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted and Vested in Period	86,050

Earnings Per Share - Schedule of Earnings Per Share, Basic and Dilutive (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
(Loss) income from continuing operations	$ 2,464	$ 11,625	$ (100,832)	$ 7,322	$ 60,484	$ 13,429	$ 11,616	$ (130,575)	$ (79,421)	$ (45,046)	$ 31,953
Loss from discontinued operations, net of tax									(99)	(329)	(140)
Net (loss) income									$ (79,520)	$ (45,375)	$ 31,813
Basic weighted-average shares (in shares)									30,617	32,141	31,952
Dilutive effect of restricted stock awards (in shares)									0	0	433
Dilutive effect of stock options (in shares)									0	0	41
Diluted weighted-average shares (in shares)									30,617	32,141	32,426
Basic (loss) income per share:
Continuing operations (in dollars per share)	$ 0.08	$ 0.38	$ (3.28)	$ 0.23	$ 1.88	$ 0.42	$ 0.36	$ (4.07)	$ (2.59)	$ (1.40)	$ 1.00
Discontinued operations (in dollars per share)									(0.01)	(0.01)	0.00
Total (in dollars per share)									(2.60)	(1.41)	1.00
Diluted (loss) income per share:
Continuing operations (in dollars per share)	$ 0.08	$ 0.38	$ (3.28)	$ 0.23	$ 1.83	$ 0.41	$ 0.36	$ (4.07)	(2.59)	(1.40)	0.99
Discontinued operations (in dollars per share)									(0.01)	(0.01)	0.00
Total (in dollars per share)									$ (2.60)	$ (1.41)	$ 0.99

Earnings Per Share - Antidilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	524	533	319
Time-based restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	612	432	0
Performance-based restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	779	645	0

Segment Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
Segment Information (Details) $ in Thousands	Sep. 30, 2019 USD ($) state region	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2019 USD ($) state region segment	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)
Segment Reporting [Abstract]
Number of states with active operations \| 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	$ 781,701	$ 482,738	$ 421,260	$ 402,040	$ 767,945	$ 511,521	$ 455,178	$ 372,489	$ 2,087,739	$ 2,107,133	$ 1,916,278
Operating (loss) income	36,005	$ 9,543	$ (138,950)	$ 3,506	43,462	$ 17,580	$ 13,825	$ 6,681	(89,896)	81,548	62,138
Write-off of a deposit on a legacy land investment									0	0	2,700
Depreciation and amortization									14,759	13,807	14,009
Capital Expenditures									21,356	17,020	12,440
Total Capital Expenditure, cash and noncash									21,356	17,020	12,440
Assets	1,957,644				2,128,102				1,957,644	2,128,102
Operating Segments
Segment Reporting Information [Line Items]
Operating (loss) income									86,249	245,632	222,696
Depreciation and amortization									13,161	12,734	12,698
Corporate and unallocated
Segment Reporting Information [Line Items]
Operating (loss) income									(176,145)	(164,084)	(160,558)
Depreciation and amortization									1,598	1,073	1,311
Capital Expenditures									4,117	3,522	341
Assets	560,763				542,713				560,763	542,713
West
Segment Reporting Information [Line Items]
Revenue									1,014,702	1,014,803	853,230
West \| Operating Segments
Segment Reporting Information [Line Items]
Operating (loss) income									(5,492)	142,310	110,600
Depreciation and amortization									6,456	7,062	7,207
Capital Expenditures									11,635	8,152	7,086
Assets	751,110				835,230				751,110	835,230
East
Segment Reporting Information [Line Items]
Revenue									514,961	524,563	551,422
East \| Operating Segments
Segment Reporting Information [Line Items]
Operating (loss) income									51,576	57,372	58,191
Depreciation and amortization									3,250	2,619	2,927
Capital Expenditures									2,518	2,234	2,474
Assets	286,340				335,474				286,340	335,474
Southeast
Segment Reporting Information [Line Items]
Revenue									558,076	567,767	511,626
Southeast \| Operating Segments
Segment Reporting Information [Line Items]
Operating (loss) income									40,165	45,950	53,905
Depreciation and amortization									3,455	3,053	2,564
Capital Expenditures									3,086	3,112	$ 2,539
Assets	$ 359,431				$ 414,685				$ 359,431	$ 414,685

Supplemental Guarantor Information - Condensed Consolidating Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
ASSETS
Cash and cash equivalents	$ 106,741	$ 139,805	$ 292,147
Restricted cash	16,053	13,443	12,462
Accounts receivable (net of allowance of $304 and $378)	26,395	24,647
Income tax receivable	4,935	0
Owned inventory	1,504,248	1,692,284
Investments in unconsolidated entities	3,962	4,035
Deferred tax assets, net	246,957	213,955
Property and equipment, net	27,421	20,843
Investments in subsidiaries	0	0
Intercompany	0	0
Goodwill	11,376	9,751
Other assets	9,556	9,339
Total assets	1,957,644	2,128,102
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	131,152	126,432
Other liabilities	109,429	126,389
Intercompany	0	0
Total debt (net of premium and debt issuance costs)	1,178,309	1,231,254
Total liabilities	1,418,890	1,484,075
Stockholders’ equity	538,754	644,027	$ 682,440	$ 642,853
Total liabilities and stockholders’ equity	1,957,644	2,128,102
Consolidating Adjustments
ASSETS
Cash and cash equivalents	0	0
Restricted cash	0	0
Accounts receivable (net of allowance of $304 and $378)	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	(636,791)	(645,086)
Intercompany	(755,449)	(924,829)
Goodwill	0	0
Other assets	0	0
Total assets	(1,392,240)	(1,569,915)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	0	0
Intercompany	(755,449)	(924,829)
Total debt (net of premium and debt issuance costs)	0	0
Total liabilities	(755,449)	(924,829)
Stockholders’ equity	(636,791)	(645,086)
Total liabilities and stockholders’ equity	(1,392,240)	(1,569,915)
Beazer Homes USA, Inc.
ASSETS
Cash and cash equivalents	70,617	93,875
Restricted cash	14,847	10,921
Accounts receivable (net of allowance of $304 and $378)	0	0
Income tax receivable	4,935	0
Owned inventory	0	0
Investments in unconsolidated entities	773	773
Deferred tax assets, net	246,957	213,955
Property and equipment, net	0	0
Investments in subsidiaries	636,791	645,086
Intercompany	753,769	922,525
Goodwill	0	0
Other assets	1,235	694
Total assets	1,729,924	1,887,829
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	12,335	14,357
Intercompany	1,680	2,304
Total debt (net of premium and debt issuance costs)	1,177,155	1,227,141
Total liabilities	1,191,170	1,243,802
Stockholders’ equity	538,754	644,027
Total liabilities and stockholders’ equity	1,729,924	1,887,829
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	36,115	45,355
Restricted cash	1,206	2,522
Accounts receivable (net of allowance of $304 and $378)	26,394	24,647
Income tax receivable	0	0
Owned inventory	1,504,248	1,692,284
Investments in unconsolidated entities	3,189	3,262
Deferred tax assets, net	0	0
Property and equipment, net	27,421	20,843
Investments in subsidiaries	0	0
Intercompany	0	0
Goodwill	11,376	9,751
Other assets	8,317	8,626
Total assets	1,618,266	1,807,290
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	131,152	126,432
Other liabilities	97,081	111,906
Intercompany	753,769	922,525
Total debt (net of premium and debt issuance costs)	1,154	4,113
Total liabilities	983,156	1,164,976
Stockholders’ equity	635,110	642,314
Total liabilities and stockholders’ equity	1,618,266	1,807,290
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	9	575
Restricted cash	0	0
Accounts receivable (net of allowance of $304 and $378)	1	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	0	0
Intercompany	1,680	2,304
Goodwill	0	0
Other assets	4	19
Total assets	1,694	2,898
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	0	0
Other liabilities	13	126
Intercompany	0	0
Total debt (net of premium and debt issuance costs)	0	0
Total liabilities	13	126
Stockholders’ equity	1,681	2,772
Total liabilities and stockholders’ equity	$ 1,694	$ 2,898

Supplemental Guarantor Information - Consolidating Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Total revenue	$ 781,701	$ 482,738	$ 421,260	$ 402,040	$ 767,945	$ 511,521	$ 455,178	$ 372,489	$ 2,087,739	$ 2,107,133	$ 1,916,278
Home construction and land sales expenses									1,773,085	1,755,619	1,600,969
Inventory impairments and abandonments	0	0	147,611	1,007	6,331	168	0	0	148,618	6,499	2,445
Gross profit	116,297	71,764	(82,680)	60,655	125,865	83,244	75,077	60,829	166,036	345,015	312,864
Commissions									79,802	81,002	74,811
General and administrative expenses									161,371	168,658	161,906
Depreciation and amortization									14,759	13,807	14,009
Operating (loss) income	36,005	9,543	(138,950)	3,506	43,462	17,580	13,825	6,681	(89,896)	81,548	62,138
Equity in income of unconsolidated entities									404	34	371
Gain (Loss) on extinguishment of debt	(25,494)	358	216	0	(1,935)	0	0	(25,904)	(24,920)	(27,839)	(12,630)
Other (expense) income, net									(2,226)	(4,305)	(15,230)
(Loss) income from continuing operations before income taxes									(116,638)	49,438	34,649
(Benefit) expense from income taxes									(37,217)	94,484	2,696
Equity in income of subsidiaries									0	0	0
(Loss) income from continuing operations	$ 2,464	$ 11,625	$ (100,832)	$ 7,322	$ 60,484	$ 13,429	$ 11,616	$ (130,575)	(79,421)	(45,046)	31,953
Loss from discontinued operations, net of tax									(99)	(329)	(140)
Equity in loss of subsidiaries from discontinued operations									0	0	0
Net (loss) income									(79,520)	(45,375)	31,813
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Total revenue									(115)	(83)	(107)
Home construction and land sales expenses									(115)	(83)	(107)
Inventory impairments and abandonments									0	0	0
Gross profit									0	0	0
Commissions									0	0	0
General and administrative expenses									0	0	0
Depreciation and amortization									0	0	0
Operating (loss) income									0	0	0
Equity in income of unconsolidated entities									0	0	0
Gain (Loss) on extinguishment of debt									0	0	0
Other (expense) income, net									0	0	0
(Loss) income from continuing operations before income taxes									0	0	0
(Benefit) expense from income taxes									0	0	0
Equity in income of subsidiaries									(40,788)	12,505	(106,474)
(Loss) income from continuing operations									(40,788)	12,505	(106,474)
Loss from discontinued operations, net of tax									0	0	0
Equity in loss of subsidiaries from discontinued operations									99	329	140
Net (loss) income									(40,689)	12,834	(106,334)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Total revenue									0	0	0
Home construction and land sales expenses									93,875	91,132	88,764
Inventory impairments and abandonments									13,908	1,961	56
Gross profit									(107,783)	(93,093)	(88,820)
Commissions									0	0	0
General and administrative expenses									0	0	0
Depreciation and amortization									0	0	0
Operating (loss) income									(107,783)	(93,093)	(88,820)
Equity in income of unconsolidated entities									0	0	0
Gain (Loss) on extinguishment of debt									(24,920)	(27,839)	(12,630)
Other (expense) income, net									(3,109)	(5,323)	(15,635)
(Loss) income from continuing operations before income taxes									(135,812)	(126,255)	(117,085)
(Benefit) expense from income taxes									(15,603)	(93,714)	(42,564)
Equity in income of subsidiaries									40,788	(12,505)	106,474
(Loss) income from continuing operations									(79,421)	(45,046)	31,953
Loss from discontinued operations, net of tax									0	0	0
Equity in loss of subsidiaries from discontinued operations									(99)	(329)	(140)
Net (loss) income									(79,520)	(45,375)	31,813
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue									2,087,739	2,107,133	1,916,278
Home construction and land sales expenses									1,679,325	1,664,570	1,512,312
Inventory impairments and abandonments									134,710	4,538	2,389
Gross profit									273,704	438,025	401,577
Commissions									79,802	81,002	74,811
General and administrative expenses									161,375	168,536	161,804
Depreciation and amortization									14,759	13,807	14,009
Operating (loss) income									17,768	174,680	150,953
Equity in income of unconsolidated entities									404	34	371
Gain (Loss) on extinguishment of debt									0	0	0
Other (expense) income, net									887	1,046	429
(Loss) income from continuing operations before income taxes									19,059	175,760	151,753
(Benefit) expense from income taxes									(21,643)	188,217	45,266
Equity in income of subsidiaries									0	0	0
(Loss) income from continuing operations									40,702	(12,457)	106,487
Loss from discontinued operations, net of tax									(85)	(312)	(115)
Equity in loss of subsidiaries from discontinued operations									0	0	0
Net (loss) income									40,617	(12,769)	106,372
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenue									115	83	107
Home construction and land sales expenses									0	0	0
Inventory impairments and abandonments									0	0	0
Gross profit									115	83	107
Commissions									0	0	0
General and administrative expenses									(4)	122	102
Depreciation and amortization									0	0	0
Operating (loss) income									119	(39)	5
Equity in income of unconsolidated entities									0	0	0
Gain (Loss) on extinguishment of debt									0	0	0
Other (expense) income, net									(4)	(28)	(24)
(Loss) income from continuing operations before income taxes									115	(67)	(19)
(Benefit) expense from income taxes									29	(19)	(6)
Equity in income of subsidiaries									0	0	0
(Loss) income from continuing operations									86	(48)	(13)
Loss from discontinued operations, net of tax									(14)	(17)	(25)
Equity in loss of subsidiaries from discontinued operations									0	0	0
Net (loss) income									$ 72	$ (65)	$ (38)

Supplemental Guarantor Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	$ 113,635	$ 54,838	$ 104,862
Cash flows from investing activities:
Capital expenditures	(21,356)	(17,020)	(12,440)
Proceeds from sale of fixed assets	251	370	297
Acquisition, net of cash acquired	(4,088)	(57,253)	0
Investments in unconsolidated entities	0	(421)	(3,261)
Return of capital from unconsolidated entities	68	176	1,621
Advances to/from subsidiaries	0	0	0
Net cash used in investing activities	(25,125)	(74,148)	(13,783)
Cash flows from financing activities:
Repayment of debt	(576,548)	(522,465)	(274,436)
Proceeds from issuance of new debt	500,000	400,000	250,000
Repayment of borrowings from credit facility	(425,000)	(225,000)	(25,000)
Borrowings from credit facility	425,000	225,000	25,000
Debt issuance costs	(6,137)	(6,272)	(4,919)
Other financing activities	(1,655)	(3,314)	(391)
Repurchase of common stock	(34,624)	0	0
Advances to/from subsidiaries	0	0	0
Net cash used in financing activities	(118,964)	(132,051)	(29,746)
Decrease in cash and cash equivalents	(30,454)	(151,361)	61,333
Cash, cash equivalents, and restricted cash at end of period	122,794	153,248	304,609
Cash, cash equivalents, and restricted cash at beginning of period	153,248	304,609	243,276
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	0	0	0
Cash flows from investing activities:
Capital expenditures	0	0	0
Proceeds from sale of fixed assets	0	0	0
Acquisition, net of cash acquired	0
Investments in unconsolidated entities		0	0
Return of capital from unconsolidated entities	0	0	0
Advances to/from subsidiaries	(204,001)	56,179	(148,120)
Net cash used in investing activities	(204,001)	56,179	(148,120)
Cash flows from financing activities:
Repayment of debt	0	0	0
Proceeds from issuance of new debt	0	0	0
Repayment of borrowings from credit facility	0	0	0
Borrowings from credit facility	0	0	0
Debt issuance costs	0	0	0
Other financing activities	0	0	0
Repurchase of common stock	0
Advances to/from subsidiaries	204,001	(49,018)	145,459
Net cash used in financing activities	204,001	(49,018)	145,459
Decrease in cash and cash equivalents	0	7,161	(2,661)
Cash, cash equivalents, and restricted cash at end of period	0	0	(7,161)
Cash, cash equivalents, and restricted cash at beginning of period	0	(7,161)	(4,500)
Beazer Homes USA, Inc.
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(107,882)	(1,163)	(65,093)
Cash flows from investing activities:
Capital expenditures	0	0	0
Proceeds from sale of fixed assets	0	0	0
Acquisition, net of cash acquired	0	0
Investments in unconsolidated entities		0	0
Return of capital from unconsolidated entities	0	0	0
Advances to/from subsidiaries	204,555	(56,182)	148,081
Net cash used in investing activities	204,555	(56,182)	148,081
Cash flows from financing activities:
Repayment of debt	(573,589)	(522,465)	(261,999)
Proceeds from issuance of new debt	500,000	400,000	250,000
Repayment of borrowings from credit facility	(425,000)	(225,000)	(25,000)
Borrowings from credit facility	425,000	225,000	25,000
Debt issuance costs	(6,137)	(6,272)	(4,919)
Other financing activities	(1,655)	(3,314)	(391)
Repurchase of common stock	(34,624)
Advances to/from subsidiaries	0	0	0
Net cash used in financing activities	(116,005)	(132,051)	(17,309)
Decrease in cash and cash equivalents	(19,332)	(189,396)	65,679
Cash, cash equivalents, and restricted cash at end of period	85,464	104,796	294,192
Cash, cash equivalents, and restricted cash at beginning of period	104,796	294,192	228,513
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	221,529	56,153	170,129
Cash flows from investing activities:
Capital expenditures	(21,356)	(17,020)	(12,440)
Proceeds from sale of fixed assets	251	370	297
Acquisition, net of cash acquired	(4,088)	(57,253)
Investments in unconsolidated entities		(421)	(3,261)
Return of capital from unconsolidated entities	68	176	1,621
Advances to/from subsidiaries	0	0	0
Net cash used in investing activities	(25,125)	(74,148)	(13,783)
Cash flows from financing activities:
Repayment of debt	(2,959)	0	(12,437)
Proceeds from issuance of new debt	0	0	0
Repayment of borrowings from credit facility	0	0	0
Borrowings from credit facility	0	0	0
Debt issuance costs	0	0	0
Other financing activities	0	0	0
Repurchase of common stock	0
Advances to/from subsidiaries	(204,001)	49,018	(145,459)
Net cash used in financing activities	(206,960)	49,018	(157,896)
Decrease in cash and cash equivalents	(10,556)	31,023	(1,550)
Cash, cash equivalents, and restricted cash at end of period	37,321	47,877	16,854
Cash, cash equivalents, and restricted cash at beginning of period	47,877	16,854	18,404
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(12)	(152)	(174)
Cash flows from investing activities:
Capital expenditures	0	0	0
Proceeds from sale of fixed assets	0	0	0
Acquisition, net of cash acquired	0
Investments in unconsolidated entities		0	0
Return of capital from unconsolidated entities	0	0	0
Advances to/from subsidiaries	(554)	3	39
Net cash used in investing activities	(554)	3	39
Cash flows from financing activities:
Repayment of debt	0	0	0
Proceeds from issuance of new debt	0	0	0
Repayment of borrowings from credit facility	0	0	0
Borrowings from credit facility	0	0	0
Debt issuance costs	0	0	0
Other financing activities	0	0	0
Repurchase of common stock	0
Advances to/from subsidiaries	0		0
Net cash used in financing activities	0	0	0
Decrease in cash and cash equivalents	(566)	(149)	(135)
Cash, cash equivalents, and restricted cash at end of period	9	575	724
Cash, cash equivalents, and restricted cash at beginning of period	$ 575	$ 724	$ 859

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Discontinued Operations (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Inventory Write-down	$ 0	$ 0	$ 147,611	$ 1,007	$ 6,331	$ 168	$ 0	$ 0	$ 148,618	$ 6,499	$ 2,445
Loss from discontinued operations, net of tax									(99)	(329)	(140)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenue									55	633	0
Home construction and land sales expenses									61	612	72
Inventory Write-down									0	450	0
Gross loss									(6)	(429)	(72)
General and administrative expenses									125	101	169
Operating loss									(131)	(530)	(241)
Equity in (loss) income of unconsolidated entities									(1)	93	31
Other income (expense), net									5	(4)	(5)
Loss from discontinued operations before income taxes									(127)	(441)	(215)
Benefit from income taxes									(28)	(112)	(75)
Loss from discontinued operations, net of tax									$ (99)	$ (329)	$ (140)

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 781,701	$ 482,738	$ 421,260	$ 402,040	$ 767,945	$ 511,521	$ 455,178	$ 372,489	$ 2,087,739	$ 2,107,133	$ 1,916,278
Gross profit	116,297	71,764	(82,680)	60,655	125,865	83,244	75,077	60,829	166,036	345,015	312,864
Operating income (loss)	36,005	9,543	(138,950)	3,506	43,462	17,580	13,825	6,681	(89,896)	81,548	62,138
Net income (loss) from continuing operations	$ 2,464	$ 11,625	$ (100,832)	$ 7,322	$ 60,484	$ 13,429	$ 11,616	$ (130,575)	$ (79,421)	$ (45,046)	$ 31,953
Basic EPS from continuing operations (in dollars per share)	$ 0.08	$ 0.38	$ (3.28)	$ 0.23	$ 1.88	$ 0.42	$ 0.36	$ (4.07)	$ (2.59)	$ (1.40)	$ 1.00
Diluted EPS from continuing operations (in dollars per share)	$ 0.08	$ 0.38	$ (3.28)	$ 0.23	$ 1.83	$ 0.41	$ 0.36	$ (4.07)	$ (2.59)	$ (1.40)	$ 0.99
Production Related Impairments or Charges [Abstract]
Inventory impairments and abandonments	$ 0	$ 0	$ 147,611	$ 1,007	$ 6,331	$ 168	$ 0	$ 0	$ 148,618	$ 6,499	$ 2,445
Gain (Loss) on Extinguishment of Debt [Abstract]
Loss on extinguishment of debt, net	$ (25,494)	$ 358	$ 216	$ 0	$ (1,935)	$ 0	$ 0	$ (25,904)	$ (24,920)	$ (27,839)	$ (12,630)

Description of Business (Details)	Sep. 30, 2019 state region
Description of Business [Abstract]
Number of states in which home building segments operate \| state	13
Number of regions in which entity operates \| region	3

Inventory - Summary of Interests in Lot Option Agreements (Details) - Unconsolidated lot option agreements - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018
Real Estate Properties [Line Items]
Deposits & Non-refundable Pre-acquisition Costs Incurred	$ 78,202	$ 72,191
Remaining Obligation	$ 389,705	$ 383,150