$DHI
HORTON D R INC /DE/

2013 Q1 Form 10-Q Financial Statement

#000088218413000041 Filed on April 26, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $1.432B $961.2M
YoY Change 48.94% 27.97%
Cost Of Revenue $1.109B $771.2M
YoY Change 43.84% 22.74%
Gross Profit $322.2M $190.0M
YoY Change 69.58% 54.72%
Gross Profit Margin 22.51% 19.77%
Selling, General & Admin $182.9M $147.1M
YoY Change 24.34% 4.03%
% of Gross Profit 56.77% 77.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.300M $4.800M
YoY Change 10.42% -4.0%
% of Gross Profit 1.64% 2.53%
Operating Expenses $179.7M $143.9M
YoY Change 24.88% 4.28%
Operating Profit $142.5M $46.10M
YoY Change 209.11% -403.29%
Interest Expense $3.000M $6.300M
YoY Change -52.38% -148.84%
% of Operating Profit 2.11% 13.67%
Other Income/Expense, Net
YoY Change
Pretax Income $142.1M $42.30M
YoY Change 235.93% -237.34%
Income Tax $31.10M $1.700M
% Of Pretax Income 21.89% 4.02%
Net Earnings $111.0M $40.60M
YoY Change 173.4% 46.04%
Net Earnings / Revenue 7.75% 4.22%
Basic Earnings Per Share $0.35 $0.13
Diluted Earnings Per Share $0.32 $0.13
COMMON SHARES
Basic Shares Outstanding 321.7M shares 317.6M shares
Diluted Shares Outstanding 365.4M shares 320.1M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.151B $680.0M
YoY Change 69.26% -37.1%
Cash & Equivalents $1.151B $679.8M
Short-Term Investments
Other Short-Term Assets $34.00M $19.00M
YoY Change 78.95% -9.52%
Inventory $5.324B $3.637B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.509B $4.349B
YoY Change 49.67% -5.25%
LONG-TERM ASSETS
Property, Plant & Equipment $87.00M $53.00M
YoY Change 64.15% -10.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $299.0M
YoY Change -100.0% 2.4%
Other Assets $735.0M $41.00M
YoY Change 1692.68% -8.89%
Total Long-Term Assets $1.724B $1.136B
YoY Change 51.72% 10.18%
TOTAL ASSETS
Total Short-Term Assets $6.509B $4.349B
Total Long-Term Assets $1.724B $1.136B
Total Assets $8.233B $5.485B
YoY Change 50.09% -2.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $309.0M $204.0M
YoY Change 51.47% 9.68%
Accrued Expenses $727.0M $698.0M
YoY Change 4.15% 2.8%
Deferred Revenue
YoY Change
Short-Term Debt $246.0M $164.0M
YoY Change 50.0% 264.44%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.331B $1.090B
YoY Change 22.11% 16.58%
LONG-TERM LIABILITIES
Long-Term Debt $3.027B $1.593B
YoY Change 90.02% -18.68%
Other Long-Term Liabilities $131.0M $99.00M
YoY Change 32.32% -15.38%
Total Long-Term Liabilities $3.158B $1.692B
YoY Change 86.64% -18.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.331B $1.090B
Total Long-Term Liabilities $3.158B $1.692B
Total Liabilities $4.489B $2.785B
YoY Change 61.18% -7.57%
SHAREHOLDERS EQUITY
Retained Earnings $1.860B
YoY Change
Common Stock $2.015B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $134.3M
YoY Change
Treasury Stock Shares 7.200M shares
Shareholders Equity $3.741B $2.700B
YoY Change
Total Liabilities & Shareholders Equity $8.233B $5.485B
YoY Change 50.09% -2.42%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $111.0M $40.60M
YoY Change 173.4% 46.04%
Depreciation, Depletion And Amortization $5.300M $4.800M
YoY Change 10.42% -4.0%
Cash From Operating Activities -$183.8M -$77.70M
YoY Change 136.55% 10.06%
INVESTING ACTIVITIES
Capital Expenditures -$11.30M -$3.100M
YoY Change 264.52% -31.11%
Acquisitions
YoY Change
Other Investing Activities $97.10M -$100.0K
YoY Change -97200.0% -102.5%
Cash From Investing Activities $85.80M -$3.200M
YoY Change -2781.25% 540.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 681.6M 22.60M
YoY Change 2915.93% -132.8%
NET CHANGE
Cash From Operating Activities -183.8M -77.70M
Cash From Investing Activities 85.80M -3.200M
Cash From Financing Activities 681.6M 22.60M
Net Change In Cash 583.6M -58.30M
YoY Change -1101.03% -58.36%
FREE CASH FLOW
Cash From Operating Activities -$183.8M -$77.70M
Capital Expenditures -$11.30M -$3.100M
Free Cash Flow -$172.5M -$74.60M
YoY Change 131.23% 12.86%

Facts In Submission

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CY2012Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
49300000 USD
CY2013Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
54500000 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1860100000 USD
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1743100000 USD
CY2012Q1 us-gaap Revenues
Revenues
961200000 USD
us-gaap Revenues
Revenues
2706500000 USD
CY2013Q1 us-gaap Revenues
Revenues
1431600000 USD
us-gaap Revenues
Revenues
1867800000 USD
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
3676000 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
23.80
CY2013Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Estimated Range Of Change Upper Bound
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleEstimatedRangeOfChangeUpperBound
-9900000 USD
us-gaap Stock Issued1
StockIssued1
3100000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
10100000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
7600000 USD
CY2012Q3 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
100000000 USD
CY2013Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount
100000000 USD
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
3741000000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
3592100000 USD
CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3743700000 USD
CY2012Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3594700000 USD
CY2013Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
7200071 shares
CY2012Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
7200071 shares
CY2013Q1 us-gaap Treasury Stock Value
TreasuryStockValue
134300000 USD
CY2012Q3 us-gaap Treasury Stock Value
TreasuryStockValue
134300000 USD
CY2013Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from those estimates.</font></div></div>
CY2013Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-18700000 USD
CY2012Q2 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-753200000 USD
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
320100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
318300000 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
365400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
364700000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
321700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
317000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
321400000 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
317600000 shares
CY2012Q3 dhi Cash Collateral On Letters Of Credit
CashCollateralOnLettersOfCredit
47200000 USD
CY2013Q1 dhi Cash Collateral On Letters Of Credit
CashCollateralOnLettersOfCredit
51200000 USD
CY2013Q1 dhi Commitment Of Hedged Loans To Third Party Purchasers
CommitmentOfHedgedLoansToThirdPartyPurchasers
P3D
CY2013Q1 dhi Deferred Tax Assets Net Of Deferred Tax Liabilities
DeferredTaxAssetsNetOfDeferredTaxLiabilities
703200000 USD
CY2012Q3 dhi Deferred Tax Assets Net Of Deferred Tax Liabilities
DeferredTaxAssetsNetOfDeferredTaxLiabilities
751400000 USD
CY2012Q3 dhi Deposits On Land Option Contracts
DepositsOnLandOptionContracts
32000000 USD
CY2013Q1 dhi Deposits On Land Option Contracts
DepositsOnLandOptionContracts
31400000 USD
CY2012Q3 dhi Future Taxable Income Necessary To Recognize Deferred Tax Asset
FutureTaxableIncomeNecessaryToRecognizeDeferredTaxAsset
1300000000 USD
dhi Increase Decrease In Residential Land And Lots Developed Under Development And Held For Development
IncreaseDecreaseInResidentialLandAndLotsDevelopedUnderDevelopmentAndHeldForDevelopment
112800000 USD
dhi Increase Decrease In Residential Land And Lots Developed Under Development And Held For Development
IncreaseDecreaseInResidentialLandAndLotsDevelopedUnderDevelopmentAndHeldForDevelopment
717100000 USD
dhi Inventory Impairments And Land Option Cost Write Offs
InventoryImpairmentsAndLandOptionCostWriteOffs
2200000 USD
dhi Inventory Impairments And Land Option Cost Write Offs
InventoryImpairmentsAndLandOptionCostWriteOffs
3200000 USD
CY2012Q3 dhi Other Mortgage Loans
OtherMortgageLoans
38100000 USD
CY2013Q1 dhi Other Mortgage Loans
OtherMortgageLoans
35400000 USD
CY2012Q3 dhi Other Mortgage Loans And Real Estate Owned
OtherMortgageLoansAndRealEstateOwned
39400000 USD
CY2013Q1 dhi Other Mortgage Loans And Real Estate Owned
OtherMortgageLoansAndRealEstateOwned
36400000 USD
CY2012Q3 dhi Real Estate Owned
RealEstateOwned
1300000 USD
CY2013Q1 dhi Real Estate Owned
RealEstateOwned
1000000 USD
CY2013Q1 dhi Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Unrecorded Tax Benefit And Related Accrued Interest Portion Related To Income Tax Expense
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleUnrecordedTaxBenefitAndRelatedAccruedInterestPortionRelatedToIncomeTaxExpense
-11000000 USD
CY2013Q1 dhi Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Unrecorded Tax Benefits And Related Accrued Interest Portion Related To Deferred Income Taxes
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleUnrecordedTaxBenefitsAndRelatedAccruedInterestPortionRelatedToDeferredIncomeTaxes
-2000000 USD
CY2013Q1 dhi Singnificant Change In Unrecognized Tax Benefits Is Reasonably Possible Accrued Interest On Unrecorded Benefit
SingnificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAccruedInterestOnUnrecordedBenefit
-3100000 USD
CY2013Q1 dhi Stock Option Grant Recipients
StockOptionGrantRecipients
500
CY2013Q1 dhi Surety Bonds
SuretyBonds
656600000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000882184
CY2013Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
322255379 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
HORTON D R INC /DE/

Files In Submission

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0000882184-13-000041-index.html Edgar Link pending
0000882184-13-000041.txt Edgar Link pending
0000882184-13-000041-xbrl.zip Edgar Link pending
a331201310q.htm Edgar Link pending
a3312013exhibit121.htm Edgar Link pending
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