$MHO
M/I HOMES, INC. Stock $mho

$mho Overview Financials Valuation SEC Filings Company Website

2015 Q2 Form 10-Q Financial Statement

#000079929215000029 Filed on July 24, 2015

Income Statement

Concept	2015 Q2	2014 Q2
Revenue	$322.9M	$281.6M
YoY Change	14.65%	20.06%
Cost Of Revenue	$252.6M	$221.2M
YoY Change	14.2%	18.23%
Gross Profit	$70.26M	$59.59M
YoY Change	17.91%	28.93%
Gross Profit Margin	21.76%	21.16%
Selling, General & Admin	$44.64M	$41.53M
YoY Change	7.48%	20.65%
% of Gross Profit	63.53%	69.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$1.900M	$1.700M
YoY Change	11.76%	30.77%
% of Gross Profit	2.7%	2.85%
Operating Expenses	$44.64M	$41.53M
YoY Change	7.48%	20.65%
Operating Profit	$25.62M	$18.06M
YoY Change	41.91%	53.11%
Interest Expense	$3.750M	$2.730M
YoY Change	37.36%	-37.91%
% of Operating Profit	14.64%	15.12%
Other Income/Expense, Net
YoY Change
Pretax Income	$21.89M	$15.30M
YoY Change	43.01%	106.94%
Income Tax	$8.535M	$1.749M
% Of Pretax Income	39.0%	11.43%
Net Earnings	$13.35M	$13.55M
YoY Change	-1.51%	86.59%
Net Earnings / Revenue	4.13%	4.81%
Basic Earnings Per Share	$0.49	$0.50
Diluted Earnings Per Share	$0.43	$0.44
COMMON SHARES
Basic Shares Outstanding	24.53M shares	24.47M shares
Diluted Shares Outstanding	30.02M shares	29.91M shares

Balance Sheet

Concept	2015 Q2	2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$21.80M	$33.60M
YoY Change	-35.12%	-79.8%
Cash & Equivalents	$21.77M	$33.64M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory	$1.041B	$816.1M
Prepaid Expenses
Receivables	$75.10M	$64.80M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$1.138B	$914.5M
YoY Change	24.42%	9.81%
LONG-TERM ASSETS
Property, Plant & Equipment	$11.82M	$11.28M
YoY Change	4.75%	9.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$28.36M	$42.18M
YoY Change	-32.77%	47.24%
Other Assets	$86.20M	$119.6M
YoY Change	-27.93%	856.8%
Total Long-Term Assets	$177.2M	$212.2M
YoY Change	-16.5%	148.29%
TOTAL ASSETS
Total Short-Term Assets	$1.138B	$914.5M
Total Long-Term Assets	$177.2M	$212.2M
Total Assets	$1.315B	$1.127B
YoY Change	16.71%	22.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$90.60M	$87.30M
YoY Change	3.78%	41.03%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$109.0M	$102.3M
YoY Change	6.55%	32.17%
LONG-TERM LIABILITIES
Long-Term Debt	$555.9M	$441.7M
YoY Change	25.85%	2.36%
Other Long-Term Liabilities	$82.80M	$62.60M
YoY Change	32.27%	14.03%
Total Long-Term Liabilities	$638.7M	$504.3M
YoY Change	26.65%	3.68%
TOTAL LIABILITIES
Total Short-Term Liabilities	$109.0M	$102.3M
Total Long-Term Liabilities	$638.7M	$504.3M
Total Liabilities	$747.8M	$606.6M
YoY Change	23.29%	7.6%
SHAREHOLDERS EQUITY
Retained Earnings	$329.0M	$286.4M
YoY Change	14.89%	128.2%
Common Stock	$240.4M	$237.6M
YoY Change	1.18%	1.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$50.44M	$52.01M
YoY Change	-3.02%	-4.25%
Treasury Stock Shares	2.540M shares	2.619M shares
Shareholders Equity	$567.2M	$520.1M
YoY Change
Total Liabilities & Shareholders Equity	$1.315B	$1.127B
YoY Change	16.71%	22.7%

Cashflow Statement

Concept	2015 Q2	2014 Q2
OPERATING ACTIVITIES
Net Income	$13.35M	$13.55M
YoY Change	-1.51%	86.59%
Depreciation, Depletion And Amortization	$1.900M	$1.700M
YoY Change	11.76%	30.77%
Cash From Operating Activities	-$16.90M	-$64.60M
YoY Change	-73.84%	91.12%
INVESTING ACTIVITIES
Capital Expenditures	-$1.300M	-$1.300M
YoY Change	0.0%	44.44%
Acquisitions
YoY Change
Other Investing Activities	-$1.900M	$1.000M
YoY Change	-290.0%	-110.31%
Cash From Investing Activities	-$3.200M	-$300.0K
YoY Change	966.67%	-97.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	12.00M	9.200M
YoY Change	30.43%	-117.49%
NET CHANGE
Cash From Operating Activities	-16.90M	-64.60M
Cash From Investing Activities	-3.200M	-300.0K
Cash From Financing Activities	12.00M	9.200M
Net Change In Cash	-8.100M	-55.70M
YoY Change	-85.46%	-42.52%
FREE CASH FLOW
Cash From Operating Activities	-$16.90M	-$64.60M
Capital Expenditures	-$1.300M	-$1.300M
Free Cash Flow	-$15.60M	-$63.30M
YoY Change	-75.36%	92.4%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2015
	dei	Document Period End Date DocumentPeriodEndDate	2015-06-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0000799292
CY2015Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	24553165	shares
	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	M I HOMES INC
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CY2015Q2	mho	A2017 Convertible Subordianted Debt A2017ConvertibleSubordiantedDebt	57500000	USD
CY2014Q4	mho	A2018 Convertible Subordinated Debt A2018ConvertibleSubordinatedDebt	86250000	USD
CY2015Q2	mho	A2018 Convertible Subordinated Debt A2018ConvertibleSubordinatedDebt	86250000	USD
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	mho	Amortization Of Intangibles And Debt Discount And Debt Issue Costs AmortizationOfIntangiblesAndDebtDiscountAndDebtIssueCosts	1594000	USD
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CY2015Q2	mho	Capitalized Interest And Other Costs Included In Investment In Unconsolidated Llcs CapitalizedInterestAndOtherCostsIncludedInInvestmentInUnconsolidatedLlcs	308000	USD
CY2014Q4	mho	Community Development District CommunityDevelopmentDistrict	2571000	USD
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	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.97
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	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.84
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	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.390	Rate
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CY2015Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	21705000	USD
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	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	804000	USD
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	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	0	USD
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	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	27788000	USD
CY2015Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	21885000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	37577000	USD
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	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	40000	USD
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	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	212000	USD
CY2014Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1749000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1602000	USD
CY2015Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	8535000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	14659000	USD
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	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	6551000	USD
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	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-1062000	USD
	us-gaap	Increase Decrease In Restricted Cash IncreaseDecreaseInRestrictedCash	-3819000	USD
	us-gaap	Increase Decrease In Restricted Cash IncreaseDecreaseInRestrictedCash	-1583000	USD
CY2014Q2	us-gaap	Interest Costs Incurred InterestCostsIncurred	7460000	USD
	us-gaap	Interest Costs Incurred InterestCostsIncurred	14880000	USD
CY2015Q2	us-gaap	Interest Costs Incurred InterestCostsIncurred	8425000	USD
	us-gaap	Interest Costs Incurred InterestCostsIncurred	16672000	USD
CY2014Q2	us-gaap	Interest Expense InterestExpense	2730000	USD
	us-gaap	Interest Expense InterestExpense	6900000	USD
CY2015Q2	us-gaap	Interest Expense InterestExpense	3750000	USD
	us-gaap	Interest Expense InterestExpense	8212000	USD
	us-gaap	Interest Paid Net InterestPaidNet	5238000	USD
	us-gaap	Interest Paid Net InterestPaidNet	6696000	USD
CY2014Q4	us-gaap	Inventory Homes Under Construction InventoryHomesUnderConstruction	371119000	USD
CY2015Q2	us-gaap	Inventory Homes Under Construction InventoryHomesUnderConstruction	444855000	USD
CY2014Q4	us-gaap	Inventory Land Held For Sale InventoryLandHeldForSale	10647000	USD
CY2015Q2	us-gaap	Inventory Land Held For Sale InventoryLandHeldForSale	5754000	USD
CY2014Q4	us-gaap	Inventory Real Estate InventoryRealEstate	918589000	USD
CY2015Q2	us-gaap	Inventory Real Estate InventoryRealEstate	1040944000	USD
CY2014Q4	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	463198000	USD
CY2015Q2	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	486895000	USD
CY2014Q4	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	0	USD
CY2015Q2	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	0	USD
CY2014Q4	us-gaap	Letters Of Credit Outstanding Amount LettersOfCreditOutstandingAmount	33600000	USD
CY2015Q2	us-gaap	Letters Of Credit Outstanding Amount LettersOfCreditOutstandingAmount	32200000	USD
CY2014Q4	us-gaap	Liabilities Liabilities	667115000	USD
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CY2015Q2	us-gaap	Line Of Credit LineOfCredit	105600000	USD
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CY2015Q2	us-gaap	Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage	75063000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-19206000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	56476000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-9207000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-4028000	USD
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	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-46210000	USD
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	us-gaap	Net Income Loss NetIncomeLoss	26186000	USD
CY2015Q2	us-gaap	Net Income Loss NetIncomeLoss	13350000	USD
	us-gaap	Net Income Loss NetIncomeLoss	22918000	USD
CY2014Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	12335000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	23748000	USD
CY2015Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	12131000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	20480000	USD
CY2014Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	13235000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	25494000	USD
CY2015Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	13006000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	22230000	USD
CY2015Q2	us-gaap	Notes Receivable Related Parties NotesReceivableRelatedParties	2500000	USD
CY2014Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	18055000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	34648000	USD
CY2015Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	25621000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	45577000	USD
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CY2015Q2	us-gaap	Other Assets OtherAssets	50805000	USD
CY2014Q4	us-gaap	Other Liabilities OtherLiabilities	79723000	USD
CY2015Q2	us-gaap	Other Liabilities OtherLiabilities	67194000	USD
CY2014Q4	us-gaap	Other Notes Payable OtherNotesPayable	9518000	USD
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	us-gaap	Payments For Origination Of Mortgage Loans Held For Sale PaymentsForOriginationOfMortgageLoansHeldForSale	333684000	USD
	us-gaap	Payments For Proceeds From Mortgage Servicing Rights PaymentsForProceedsFromMortgageServicingRights	2006000	USD
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	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	40000	USD
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	us-gaap	Payments Of Dividends PaymentsOfDividends	2438000	USD
	us-gaap	Payments To Acquire Interest In Subsidiaries And Affiliates PaymentsToAcquireInterestInSubsidiariesAndAffiliates	13484000	USD
	us-gaap	Payments To Acquire Interest In Subsidiaries And Affiliates PaymentsToAcquireInterestInSubsidiariesAndAffiliates	4210000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1677000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1401000	USD
	us-gaap	Preferred Stock Dividend Rate Percentage PreferredStockDividendRatePercentage	0.0975
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	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	2438000	USD
CY2015Q2	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	1219000	USD
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	2438000	USD
CY2014Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2015Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2014Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	2000000	shares
CY2015Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	2000000	shares
CY2014Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	2000	shares
CY2015Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	2000	shares
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CY2015Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	2000	shares
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CY2015Q2	us-gaap	Preferred Stock Value PreferredStockValue	48163000	USD
	us-gaap	Proceeds From Bank Debt ProceedsFromBankDebt	0	USD
	us-gaap	Proceeds From Bank Debt ProceedsFromBankDebt	220700000	USD
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	us-gaap	Proceeds From Repayments Of Other Debt ProceedsFromRepaymentsOfOtherDebt	-1288000	USD
	us-gaap	Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess	-18115000	USD
	us-gaap	Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess	-15698000	USD
	us-gaap	Proceeds From Sale Of Mortgage Loans Held For Sale ProceedsFromSaleOfMortgageLoansHeldForSale	298953000	USD
	us-gaap	Proceeds From Sale Of Mortgage Loans Held For Sale ProceedsFromSaleOfMortgageLoansHeldForSale	350591000	USD
	us-gaap	Proceeds From Sale Of Mortgage Servicing Rights Msr ProceedsFromSaleOfMortgageServicingRightsMSR	2135000	USD
	us-gaap	Proceeds From Sale Of Mortgage Servicing Rights Msr ProceedsFromSaleOfMortgageServicingRightsMSR	0	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	1460000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	340000	USD
CY2013Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	12291000	USD
CY2014Q1	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	11769000	USD
CY2014Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	11220000	USD
CY2014Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	12671000	USD
CY2015Q1	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	11551000	USD
CY2015Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	10638000	USD
CY2014Q2	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	-2881000	USD
	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	-5000000	USD
CY2015Q2	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	-3370000	USD
	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	-6292000	USD
CY2014Q2	us-gaap	Product Warranty Accrual Preexisting Increase Decrease ProductWarrantyAccrualPreexistingIncreaseDecrease	652000	USD
	us-gaap	Product Warranty Accrual Preexisting Increase Decrease ProductWarrantyAccrualPreexistingIncreaseDecrease	890000	USD
CY2015Q2	us-gaap	Product Warranty Accrual Preexisting Increase Decrease ProductWarrantyAccrualPreexistingIncreaseDecrease	413000	USD
	us-gaap	Product Warranty Accrual Preexisting Increase Decrease ProductWarrantyAccrualPreexistingIncreaseDecrease	676000	USD
CY2014Q2	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	1680000	USD
	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	3039000	USD
CY2015Q2	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	2044000	USD
	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	3583000	USD
CY2014Q2	us-gaap	Profit Loss ProfitLoss	13554000	USD
	us-gaap	Profit Loss ProfitLoss	26186000	USD
CY2015Q2	us-gaap	Profit Loss ProfitLoss	13350000	USD
	us-gaap	Profit Loss ProfitLoss	22918000	USD
CY2014Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	11490000	USD
CY2015Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	11819000	USD
CY2013Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	13802000	USD
CY2014Q1	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	13944000	USD
CY2014Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	14831000	USD
CY2014Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	15296000	USD
CY2015Q1	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	15542000	USD
CY2015Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	16437000	USD
CY2014Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales RealEstateInventoryCapitalizedInterestCostsCostOfSales	-3843000	USD
	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales RealEstateInventoryCapitalizedInterestCostsCostOfSales	-6951000	USD
CY2015Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales RealEstateInventoryCapitalizedInterestCostsCostOfSales	-3780000	USD
	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales RealEstateInventoryCapitalizedInterestCostsCostOfSales	-7319000	USD
CY2014Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	4730000	USD
	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	7980000	USD
CY2015Q2	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	4675000	USD
	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	8460000	USD
	us-gaap	Repayments Of Bank Debt RepaymentsOfBankDebt	0	USD
	us-gaap	Repayments Of Bank Debt RepaymentsOfBankDebt	-145100000	USD
CY2014Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	6951000	USD
CY2015Q2	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	5174000	USD
CY2014Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	308539000	USD
CY2015Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	329019000	USD
CY2014Q2	us-gaap	Revenues Revenues	281608000	USD
	us-gaap	Revenues Revenues	516449000	USD
CY2015Q2	us-gaap	Revenues Revenues	322856000	USD
	us-gaap	Revenues Revenues	586015000	USD
CY2014Q2	us-gaap	Sales Revenue Net SalesRevenueNet	281608000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	516449000	USD
CY2015Q2	us-gaap	Sales Revenue Net SalesRevenueNet	322856000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	586015000	USD
CY2014Q4	us-gaap	Secured Debt SecuredDebt	4300000	USD
CY2015Q2	us-gaap	Secured Debt SecuredDebt	4100000	USD
CY2014Q2	us-gaap	Selling Expense SellingExpense	20251000	USD
	us-gaap	Selling Expense SellingExpense	36220000	USD
CY2015Q2	us-gaap	Selling Expense SellingExpense	22935000	USD
	us-gaap	Selling Expense SellingExpense	40621000	USD
CY2014Q4	us-gaap	Senior Notes SeniorNotes	228469000	USD
CY2015Q2	us-gaap	Senior Notes SeniorNotes	228669000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	1794000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	1978000	USD
	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	340000	USD
CY2014Q4	us-gaap	Stockholders Equity StockholdersEquity	544295000	USD
CY2015Q2	us-gaap	Stockholders Equity StockholdersEquity	567173000	USD
CY2014Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	544295000	USD
CY2015Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	567173000	USD
CY2014Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	2579813	shares
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CY2014Q4	us-gaap	Treasury Stock Value TreasuryStockValue	51238000	USD
CY2015Q2	us-gaap	Treasury Stock Value TreasuryStockValue	50439000	USD
CY2014Q2	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	4000000	USD
	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	9291000	USD
	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	0	USD
CY2014Q4	us-gaap	Warehouse Agreement Borrowings WarehouseAgreementBorrowings	85379000	USD
CY2015Q2	us-gaap	Warehouse Agreement Borrowings WarehouseAgreementBorrowings	69681000	USD
CY2014Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	29913000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	29891000	shares
CY2015Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	30023000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	30002000	shares
CY2014Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	24470000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	24444000	shares
CY2015Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	24531000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	24523000	shares
	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying Unaudited Condensed Consolidated Financial Statements (the “financial statements”) of M/I Homes, Inc. and its subsidiaries (the “Company”) and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. The financial statements include the accounts of the Company. All intercompany transactions have been eliminated. Results for the interim period are not necessarily indicative of results for a full year. In the opinion of management, the accompanying financial statements reflect all adjustments (all of which are normal and recurring in nature) necessary for a fair presentation of financial results for the interim periods presented. These financial statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;"> (the “</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;"> Form 10-K”).</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during that period. Actual results could differ from these estimates and have a significant impact on the financial condition and results of operations and cash flows. With regard to the Company, estimates and assumptions are inherent in calculations relating to valuation of inventory and investment in unconsolidated joint ventures, property and equipment depreciation, valuation of derivative financial instruments, accounts payable on inventory, accruals for costs to complete inventory, accruals for warranty claims, accruals for self-insured general liability claims, litigation, accruals for health care and workers’ compensation, accruals for guaranteed or indemnified loans, stock-based compensation expense, income taxes, and contingencies. Items that could have a significant impact on these estimates and assumptions include the risks and uncertainties listed in “Item 1A. Risk Factors” in Part I of our </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;"> Form 10-K, as the same may be updated from time to time in our subsequent filings with the SEC. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Impact of New Accounting Standards</font></div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers </font><font style="font-family:inherit;font-size:10pt;">(“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in ASC 605, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</font><font style="font-family:inherit;font-size:10pt;">, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, “Revenue Recognition-Construction-Type and Production-Type Contracts.” ASU 2014-09’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 is effective for the Company beginning January 1, 2017 and, at that time, the Company may adopt the new standard under the full retrospective approach or the modified retrospective approach. Early adoption is not permitted.  On July 9, 2015, the FASB approved the proposal to defer the effective date of ASU 2014-09 standard by one year. Early adoption is permitted as of the original effective date, and the standard is effective for the Company beginning January 1, 2018. The Company is currently evaluating the method and impact the adoption of ASU 2014-09 will have on the Company’s consolidated financial statements and disclosures.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the FASB issued ASU No. 2015-03, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Simplifying the Presentation of Debt Issuance Costs</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs would not be affected by the amendments in ASU 2015-03. ASU 2015-03 will be effective for the Company beginning January 1, 2016, with early adoption permitted. ASU 2015-03 is to be applied on a retrospective basis and represents a change in accounting principle. The Company is currently evaluating the impact the adoption of ASU 2015-03 may have on our consolidated financial statements or disclosures and expects adoption to impact our consolidated balance sheet but not our results of operations.</font></div></div>

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$MHO
M/I HOMES, INC. Stock $mho

2015 Q2 Form 10-Q Financial Statement

#000079929215000029 Filed on July 24, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MHO M/I HOMES, INC. Stock $mho

2015 Q2 Form 10-Q Financial Statement

#000079929215000029 Filed on July 24, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MHO
M/I HOMES, INC. Stock $mho