$DHI
HORTON D R INC /DE/

2016 Q1 Form 10-Q Financial Statement

#000088218416000164 Filed on April 25, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $2.768B $2.398B
YoY Change 15.43% 38.21%
Cost Of Revenue $2.163B $1.892B
YoY Change 14.34% 43.36%
Gross Profit $604.6M $506.0M
YoY Change 19.49% 21.87%
Gross Profit Margin 21.84% 21.1%
Selling, General & Admin $309.2M $283.1M
YoY Change 9.22% 29.8%
% of Gross Profit 51.14% 55.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.00M $13.10M
YoY Change 6.87% 47.19%
% of Gross Profit 2.32% 2.59%
Operating Expenses $297.7M $278.6M
YoY Change 6.86% 29.4%
Operating Profit $306.9M $227.4M
YoY Change 34.96% 13.76%
Interest Expense -$400.0K $2.700M
YoY Change -114.81%
% of Operating Profit -0.13% 1.19%
Other Income/Expense, Net
YoY Change
Pretax Income $300.5M $230.1M
YoY Change 30.6% 13.97%
Income Tax $105.4M $82.20M
% Of Pretax Income 35.07% 35.72%
Net Earnings $195.1M $147.9M
YoY Change 31.91% 12.9%
Net Earnings / Revenue 7.05% 6.17%
Basic Earnings Per Share $0.53 $0.40
Diluted Earnings Per Share $0.52 $0.40
COMMON SHARES
Basic Shares Outstanding 370.2M shares 365.8M shares
Diluted Shares Outstanding 373.7M shares 369.4M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.224B $698.0M
YoY Change 75.36% -26.6%
Cash & Equivalents $1.224B $697.7M
Short-Term Investments
Other Short-Term Assets $26.00M $52.00M
YoY Change -50.0% 13.04%
Inventory $8.217B $8.137B
Prepaid Expenses
Receivables $25.00M $43.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $9.492B $8.930B
YoY Change 6.29% 14.41%
LONG-TERM ASSETS
Property, Plant & Equipment $150.0M $194.0M
YoY Change -22.68% 57.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $538.0M $558.0M
YoY Change -3.58% -14.15%
Total Long-Term Assets $1.808B $1.783B
YoY Change 1.41% 13.73%
TOTAL ASSETS
Total Short-Term Assets $9.492B $8.930B
Total Long-Term Assets $1.808B $1.783B
Total Assets $11.30B $10.71B
YoY Change 5.48% 14.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $542.0M $499.0M
YoY Change 8.62% 47.2%
Accrued Expenses $800.0M $798.0M
YoY Change 0.25% 3.91%
Deferred Revenue
YoY Change
Short-Term Debt $495.0M $398.0M
YoY Change 24.37% 77.68%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.852B $1.702B
YoY Change 8.81% 25.98%
LONG-TERM LIABILITIES
Long-Term Debt $3.167B $3.548B
YoY Change -10.74% -2.47%
Other Long-Term Liabilities $32.00M $43.00M
YoY Change -25.58% 26.47%
Total Long-Term Liabilities $3.199B $3.591B
YoY Change -10.92% -2.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.852B $1.702B
Total Long-Term Liabilities $3.199B $3.591B
Total Liabilities $5.051B $5.292B
YoY Change -4.55% 5.35%
SHAREHOLDERS EQUITY
Retained Earnings $3.583B $2.875B
YoY Change 24.63% 20.42%
Common Stock $2.799B $2.675B
YoY Change 4.65% 27.94%
Preferred Stock
YoY Change
Treasury Stock (at cost) $134.3M $134.3M
YoY Change 0.0% 0.0%
Treasury Stock Shares 7.200M shares 7.200M shares
Shareholders Equity $6.248B $5.418B
YoY Change
Total Liabilities & Shareholders Equity $11.30B $10.71B
YoY Change 5.48% 14.3%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $195.1M $147.9M
YoY Change 31.91% 12.9%
Depreciation, Depletion And Amortization $14.00M $13.10M
YoY Change 6.87% 47.19%
Cash From Operating Activities $28.40M -$39.80M
YoY Change -171.36% -84.59%
INVESTING ACTIVITIES
Capital Expenditures -$20.30M -$12.70M
YoY Change 59.84% -12.41%
Acquisitions
YoY Change
Other Investing Activities $35.80M -$2.700M
YoY Change -1425.93% -437.5%
Cash From Investing Activities $15.50M -$15.40M
YoY Change -200.65% 12.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -88.50M 211.9M
YoY Change -141.76% -47.6%
NET CHANGE
Cash From Operating Activities 28.40M -39.80M
Cash From Investing Activities 15.50M -15.40M
Cash From Financing Activities -88.50M 211.9M
Net Change In Cash -44.60M 156.7M
YoY Change -128.46% 18.35%
FREE CASH FLOW
Cash From Operating Activities $28.40M -$39.80M
Capital Expenditures -$20.30M -$12.70M
Free Cash Flow $48.70M -$27.10M
YoY Change -279.7% -88.88%

Facts In Submission

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us-gaap Stock Option Plan Expense
StockOptionPlanExpense
22400000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
24300000 USD
CY2015Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 USD
CY2016Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
100000000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
5894300000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
6248400000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5895400000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6249000000 USD
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
7200071 shares
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
7200071 shares
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
134300000 USD
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
134300000 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
369400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
368800000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
373700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
373600000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
365800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
365400000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
370200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
369700000 shares
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. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.</font></div></div>

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