$DHI
HORTON D R INC /DE/

2016 Q3 Form 10-Q Financial Statement

#000088218416000178 Filed on July 26, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q2
Revenue $3.741B $3.232B $2.951B
YoY Change 17.93% 9.53% 37.44%
Cost Of Revenue $2.903B $2.515B $2.320B
YoY Change 15.71% 8.38% 34.48%
Gross Profit $838.3M $717.0M $630.4M
YoY Change 26.33% 13.74% 49.56%
Gross Profit Margin 22.41% 22.19% 21.36%
Selling, General & Admin $384.8M $336.8M $303.8M
YoY Change 19.06% 10.86% 18.81%
% of Gross Profit 45.9% 46.97% 48.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.60M $13.80M $14.30M
YoY Change 36.11% -3.5% 44.44%
% of Gross Profit 2.34% 1.92% 2.27%
Operating Expenses $380.1M $330.6M $299.9M
YoY Change 19.27% 10.24% 18.73%
Operating Profit $458.2M $386.4M $330.5M
YoY Change 32.85% 16.91% 95.68%
Interest Expense -$2.500M $300.0K $3.300M
YoY Change -59.02% -90.91%
% of Operating Profit -0.55% 0.08% 1.0%
Other Income/Expense, Net
YoY Change
Pretax Income $433.0M $378.6M $333.8M
YoY Change 27.8% 13.42% 94.3%
Income Tax $149.4M $128.8M $112.4M
% Of Pretax Income 34.5% 34.02% 33.67%
Net Earnings $283.6M $249.8M $221.4M
YoY Change 18.71% 12.83% 95.76%
Net Earnings / Revenue 7.58% 7.73% 7.5%
Basic Earnings Per Share $0.76 $0.67 $0.60
Diluted Earnings Per Share $0.75 $0.66 $0.60
COMMON SHARES
Basic Shares Outstanding 372.3M shares 371.8M shares 366.8M shares
Diluted Shares Outstanding 375.9M shares 370.3M shares

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.303B $907.0M $806.0M
YoY Change -5.85% 12.53% 40.17%
Cash & Equivalents $1.303B $906.8M $805.6M
Short-Term Investments
Other Short-Term Assets $30.00M $26.00M $47.00M
YoY Change -26.83% -44.68% 6.82%
Inventory $8.341B $8.504B $8.111B
Prepaid Expenses
Receivables $36.00M $34.00M $40.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.710B $9.471B $9.004B
YoY Change 4.62% 5.19% 12.2%
LONG-TERM ASSETS
Property, Plant & Equipment $195.4M $152.0M $199.0M
YoY Change 33.02% -23.62% 49.62%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $486.0M $517.0M $556.0M
YoY Change -14.44% -7.01% -7.79%
Total Long-Term Assets $1.849B $1.862B $1.860B
YoY Change -1.13% 0.15% 9.93%
TOTAL ASSETS
Total Short-Term Assets $9.710B $9.471B $9.004B
Total Long-Term Assets $1.849B $1.862B $1.860B
Total Assets $11.56B $11.33B $10.86B
YoY Change 3.66% 4.32% 11.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $578.0M $609.0M $502.0M
YoY Change 12.23% 21.31% 18.96%
Accrued Expenses $850.0M $839.0M $840.0M
YoY Change -0.82% -0.12% 1.08%
Deferred Revenue
YoY Change
Short-Term Debt $473.0M $504.0M $448.0M
YoY Change -1.05% 12.5% 47.85%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.929B $1.988B $1.828B
YoY Change 2.28% 8.75% 16.36%
LONG-TERM LIABILITIES
Long-Term Debt $2.798B $2.797B $3.373B
YoY Change -16.08% -17.08% 7.35%
Other Long-Term Liabilities $39.00M $35.00M $31.00M
YoY Change 8.33% 12.9% -6.06%
Total Long-Term Liabilities $2.837B $2.832B $3.404B
YoY Change -15.82% -16.8% 7.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.929B $1.988B $1.828B
Total Long-Term Liabilities $2.837B $2.832B $3.404B
Total Liabilities $4.766B $4.820B $5.233B
YoY Change -9.32% -7.88% 10.23%
SHAREHOLDERS EQUITY
Retained Earnings $4.057B $3.803B $3.074B
YoY Change 23.33% 23.74% 23.59%
Common Stock $2.870B $2.843B $2.688B
YoY Change 4.82% 5.77% 2.94%
Preferred Stock
YoY Change
Treasury Stock (at cost) $134.3M $134.3M $134.3M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 7.200M shares 7.200M shares 7.200M shares
Shareholders Equity $6.793B $6.512B $5.630B
YoY Change
Total Liabilities & Shareholders Equity $11.56B $11.33B $10.86B
YoY Change 3.66% 4.32% 11.8%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $283.6M $249.8M $221.4M
YoY Change 18.71% 12.83% 95.76%
Depreciation, Depletion And Amortization $19.60M $13.80M $14.30M
YoY Change 36.11% -3.5% 44.44%
Cash From Operating Activities $529.4M $61.70M $357.4M
YoY Change 3.44% -82.74% -216.08%
INVESTING ACTIVITIES
Capital Expenditures -$20.90M -$24.80M -$19.30M
YoY Change 63.28% 28.5% 12.87%
Acquisitions $70.90M
YoY Change
Other Investing Activities -$64.50M $4.300M -$86.20M
YoY Change -223.56% -104.99% -33.49%
Cash From Investing Activities -$85.40M -$20.50M -$105.5M
YoY Change -316.75% -80.57% -28.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -47.60M -358.5M -144.0M
YoY Change -276.3% 148.96% -283.44%
NET CHANGE
Cash From Operating Activities 529.4M 61.70M 357.4M
Cash From Investing Activities -85.40M -20.50M -105.5M
Cash From Financing Activities -47.60M -358.5M -144.0M
Net Change In Cash 396.4M -317.3M 107.9M
YoY Change -31.44% -394.07% -128.69%
FREE CASH FLOW
Cash From Operating Activities $529.4M $61.70M $357.4M
Capital Expenditures -$20.90M -$24.80M -$19.30M
Free Cash Flow $550.3M $86.50M $376.7M
YoY Change 4.9% -77.04% -229.54%

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CY2016Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
206600000 USD
CY2015Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
42800000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
112100000 USD
CY2016Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
43300000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
119400000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1433500000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
543900000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3289600000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3803400000 USD
CY2015Q2 us-gaap Revenues
Revenues
2950800000 USD
us-gaap Revenues
Revenues
7651600000 USD
CY2016Q2 us-gaap Revenues
Revenues
3231900000 USD
us-gaap Revenues
Revenues
8416200000 USD
CY2016Q2 us-gaap Special Assessment Bond Noncurrent
SpecialAssessmentBondNoncurrent
929600000 USD
us-gaap Stock Issued1
StockIssued1
8300000 USD
us-gaap Stock Issued1
StockIssued1
19900000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
31700000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
36800000 USD
CY2015Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 USD
CY2016Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
100000000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
5894300000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
6512200000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5895400000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6512800000 USD
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
7200071 shares
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
7200071 shares
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
134300000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
134300000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
370300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
369300000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
375900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
374400000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
366800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
365900000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
371800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
370400000 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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0000882184-16-000178.txt Edgar Link pending
0000882184-16-000178-xbrl.zip Edgar Link pending
a630201610q.htm Edgar Link pending
a6302016exhibit121.htm Edgar Link pending
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