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10-Q Filing

HORTON D R INC /DE/ CIK: 882184 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0000882184-22-000024
Period End Date 20211231
Filing Date 20220202
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance dhi-20211231_htm.xml
Filing Contents
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.44B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.21B USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $22.50M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $26.80M USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.46B USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.47B USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.24B USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.04B USD Point-in-time
Construction in progress and finished homes InventoryHomesUnderConstruction $7.74B USD Point-in-time
Construction in progress and finished homes InventoryHomesUnderConstruction $8.74B USD Point-in-time
Residential land and lots developed and under development InventoryRealEstateLandAndLandDevelopmentCosts $7.78B USD Point-in-time
Residential land and lots developed and under development InventoryRealEstateLandAndLandDevelopmentCosts $8.16B USD Point-in-time
Land held for development InventoryLandHeldForDevelopmentAndSale $131.40M USD Point-in-time
Land held for development InventoryLandHeldForDevelopmentAndSale $110.90M USD Point-in-time
Land held for sale InventoryLandHeldForSale $25.40M USD Point-in-time
Land held for sale InventoryLandHeldForSale $24.80M USD Point-in-time
Rental properties InventoryOperativeBuildersOther $821.80M USD Point-in-time
Rental properties InventoryOperativeBuildersOther $1.14B USD Point-in-time
Total inventories InventoryRealEstate $18.20B USD Point-in-time
Total inventories InventoryRealEstate $16.48B USD Point-in-time
Mortgage loans held for sale LoansReceivableHeldForSaleNetNotPartOfDisposalGroup $1.83B USD Point-in-time
Mortgage loans held for sale LoansReceivableHeldForSaleNetNotPartOfDisposalGroup $2.03B USD Point-in-time
Deferred income taxes, net of valuation allowance of $4.1 million and $4.2 million at December 31, 2021 and September 30, 2021, respectively DeferredIncomeTaxAssetsNet $137.60M USD Point-in-time
Deferred income taxes, net of valuation allowance of $4.1 million and $4.2 million at December 31, 2021 and September 30, 2021, respectively DeferredIncomeTaxAssetsNet $155.30M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $410.40M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $392.90M USD Point-in-time
Other assets OtherAssets $1.79B USD Point-in-time
Other assets OtherAssets $1.56B USD Point-in-time
Goodwill Goodwill $163.50M USD Point-in-time
Goodwill Goodwill $163.50M USD Point-in-time
Total assets Assets $25.00B USD Point-in-time
Total assets Assets $24.02B USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $1.15B USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $1.18B USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrentAndNoncurrent $2.21B USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrentAndNoncurrent $2.58B USD Point-in-time
Notes payable NotesPayable $5.26B USD Point-in-time
Notes payable NotesPayable $5.41B USD Point-in-time
Total liabilities Liabilities $8.99B USD Point-in-time
Total liabilities Liabilities $8.80B USD Point-in-time
Commitments and contingencies (Note K) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note K) CommitmentsAndContingencies - USD Point-in-time
Preferred stock, $.10 par value, 30,000,000 shares authorized, no shares issued PreferredStockValue - USD Point-in-time
Preferred stock, $.10 par value, 30,000,000 shares authorized, no shares issued PreferredStockValue - USD Point-in-time
Common stock, $.01 par value, 1,000,000,000 shares authorized, 398,162,095 shares issued and 354,277,601 shares outstanding at December 31, 2021 and 397,190,100 shares issued and 356,015,843 shares outstanding at September 30, 2021 CommonStockValue $4.00M USD Point-in-time
Common stock, $.01 par value, 1,000,000,000 shares authorized, 398,162,095 shares issued and 354,277,601 shares outstanding at December 31, 2021 and 397,190,100 shares issued and 356,015,843 shares outstanding at September 30, 2021 CommonStockValue $4.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $3.27B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $3.28B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $13.64B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $14.71B USD Point-in-time
Treasury stock, 43,884,494 shares and 41,174,257 shares at December 31, 2021 and September 30, 2021, respectively, at cost TreasuryStockValue $2.31B USD Point-in-time
Treasury stock, 43,884,494 shares and 41,174,257 shares at December 31, 2021 and September 30, 2021, respectively, at cost TreasuryStockValue $2.04B USD Point-in-time
Stockholders equity StockholdersEquity $14.89B USD Point-in-time
Stockholders equity StockholdersEquity $15.68B USD Point-in-time
Noncontrolling interests MinorityInterest $329.70M USD Point-in-time
Noncontrolling interests MinorityInterest $335.70M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.12B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $15.22B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.77B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $16.01B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $25.00B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $24.02B USD Point-in-time
Income Statement 28 line items
Line Item Tag Value Unit Period
Revenues Revenues $7.05B USD 1 Quarter
Revenues Revenues $5.93B USD 1 Quarter
Cost of sales CostOfRevenue $4.91B USD 1 Quarter
Cost of sales CostOfRevenue $4.33B USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $585.90M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $665.90M USD 1 Quarter
Gain on sale of assets GainLossOnSaleOfProperties - USD 1 Quarter
Gain on sale of assets GainLossOnSaleOfProperties $14.00M USD 1 Quarter
Other (income) expense OtherNonoperatingIncomeExpense $5.30M USD 1 Quarter
Other (income) expense OtherNonoperatingIncomeExpense $15.50M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.03B USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.50B USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $351.50M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $239.10M USD 1 Quarter
Net income ProfitLoss $795.20M USD 1 Quarter
Net income ProfitLoss $1.15B USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $3.40M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $4.20M USD 1 Quarter
Net income attributable to D.R. Horton, Inc. NetIncomeLoss $791.80M USD 1 Quarter
Net income attributable to D.R. Horton, Inc. NetIncomeLoss $1.14B USD 1 Quarter
Basic net income per common share attributable to D.R. Horton, Inc. (in dollars per share) EarningsPerShareBasic $3.21 USD 1 Quarter
Basic net income per common share attributable to D.R. Horton, Inc. (in dollars per share) EarningsPerShareBasic $2.17 USD 1 Quarter
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 364.40M shares 1 Quarter
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 356.10M shares 1 Quarter
Diluted net income per common share attributable to D.R. Horton, Inc. (in dollars per share) EarningsPerShareDiluted $3.17 USD 1 Quarter
Diluted net income per common share attributable to D.R. Horton, Inc. (in dollars per share) EarningsPerShareDiluted $2.14 USD 1 Quarter
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 370.00M shares 1 Quarter
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 360.10M shares 1 Quarter
Cash Flow Statement 92 line items
Line Item Tag Value Unit Period
Deferred Tax Assets, Valuation Allowance DeferredTaxAssetsValuationAllowance $4.20M USD Point-in-time
Deferred Tax Assets, Valuation Allowance DeferredTaxAssetsValuationAllowance $4.10M USD Point-in-time
Net income ProfitLoss $795.20M USD 1 Quarter
Net income ProfitLoss $1.15B USD 1 Quarter
Preferred Stock, Par or Stated Value Per Share PreferredStockParOrStatedValuePerShare $0.10 USD Point-in-time
Preferred Stock, Par or Stated Value Per Share PreferredStockParOrStatedValuePerShare $0.10 USD Point-in-time
Preferred Stock, Shares Authorized PreferredStockSharesAuthorized 30.00M shares Point-in-time
Preferred Stock, Shares Authorized PreferredStockSharesAuthorized 30.00M shares Point-in-time
Depreciation and amortization DepreciationDepletionAndAmortization $22.90M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $19.40M USD 1 Quarter
Preferred Stock, Shares Issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred Stock, Shares Issued PreferredStockSharesIssued 0.00 shares Point-in-time
Stock-based compensation expense ShareBasedCompensation $21.70M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $23.70M USD 1 Quarter
Common Stock, Par or Stated Value Per Share CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common Stock, Par or Stated Value Per Share CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 1.00B shares Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 1.00B shares Point-in-time
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $-17.70M USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $-2.90M USD 1 Quarter
Common Stock, Shares, Issued CommonStockSharesIssued 398.16M shares Point-in-time
Inventory and land option charges ProductionRelatedImpairmentsOrCharges $8.30M USD 1 Quarter
Inventory and land option charges ProductionRelatedImpairmentsOrCharges $4.80M USD 1 Quarter
Common Stock, Shares, Issued CommonStockSharesIssued 397.19M shares Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 354.28M shares Point-in-time
Gain on sale of assets GainLossOnSaleOfProperties - USD 1 Quarter
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 356.02M shares Point-in-time
Gain on sale of assets GainLossOnSaleOfProperties $14.00M USD 1 Quarter
Treasury Stock, Shares TreasuryStockShares 43.88M shares Point-in-time
Treasury Stock, Shares TreasuryStockShares 41.17M shares Point-in-time
Increase in construction in progress and finished homes IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories $1.00B USD 1 Quarter
Increase in construction in progress and finished homes IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories $591.20M USD 1 Quarter
Increase in residential land and lots developed, under development, held for development and held for sale IncreaseDecreaseInInventoryForLongTermContractsOrPrograms $340.70M USD 1 Quarter
Increase in residential land and lots developed, under development, held for development and held for sale IncreaseDecreaseInInventoryForLongTermContractsOrPrograms $716.80M USD 1 Quarter
Increase in rental properties IncreaseDecreaseInRentalProperties $319.50M USD 1 Quarter
Increase in rental properties IncreaseDecreaseInRentalProperties - USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $221.80M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $125.80M USD 1 Quarter
Decrease in mortgage loans held for sale IncreaseDecreaseInMortgageLoansHeldForSale $-90.10M USD 1 Quarter
Decrease in mortgage loans held for sale IncreaseDecreaseInMortgageLoansHeldForSale $-194.00M USD 1 Quarter
Increase in accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $306.20M USD 1 Quarter
Increase in accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $254.60M USD 1 Quarter
Cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-174.10M USD 1 Quarter
Cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-252.10M USD 1 Quarter
Expenditures for property and equipment PaymentsToAcquirePropertyPlantAndEquipment $16.30M USD 1 Quarter
Expenditures for property and equipment PaymentsToAcquirePropertyPlantAndEquipment $30.90M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfBuildings $31.80M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfBuildings - USD 1 Quarter
Expenditures related to rental properties PaymentsToAcquireOtherPropertyPlantAndEquipment $86.20M USD 1 Quarter
Expenditures related to rental properties PaymentsToAcquireOtherPropertyPlantAndEquipment - USD 1 Quarter
Payments related to business acquisitions PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Payments related to business acquisitions PaymentsToAcquireBusinessesNetOfCashAcquired $23.00M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $-4.40M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $-2.30M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-26.50M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-91.40M USD 1 Quarter
Proceeds from notes payable ProceedsFromNotesPayable - USD 1 Quarter
Proceeds from notes payable ProceedsFromNotesPayable $494.10M USD 1 Quarter
Repayment of notes payable RepaymentsOfNotesPayable $600.00K USD 1 Quarter
Repayment of notes payable RepaymentsOfNotesPayable $400.10M USD 1 Quarter
Payments on mortgage repurchase facility, net ProceedsFromRepaymentsOfLinesOfCredit $-234.60M USD 1 Quarter
Payments on mortgage repurchase facility, net ProceedsFromRepaymentsOfLinesOfCredit $-163.50M USD 1 Quarter
Proceeds from stock associated with certain employee benefit plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $900.00K USD 1 Quarter
Proceeds from stock associated with certain employee benefit plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $17.20M USD 1 Quarter
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $33.00M USD 1 Quarter
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $26.30M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $72.90M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $80.10M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfEquity $53.80M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfEquity $303.80M USD 1 Quarter
Net proceeds from issuance of Forestar common stock ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Net proceeds from issuance of Forestar common stock ProceedsFromIssuanceOfCommonStock $100.00K USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $62.80M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-100.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-572.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-221.70M USD 1 Quarter
Net decrease in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-772.60M USD 1 Quarter
Net decrease in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-565.20M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.46B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.47B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.24B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.04B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.46B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.47B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.24B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.04B USD Point-in-time
Notes payable issued for inventory NotesIssued1 $64.30M USD 1 Quarter
Notes payable issued for inventory NotesIssued1 $12.50M USD 1 Quarter
Stock issued under employee incentive plans StockIssued1 $44.70M USD 1 Quarter
Stock issued under employee incentive plans StockIssued1 $66.20M USD 1 Quarter
Repurchase of common stock not settled RepurchaseOfCommonStockNotSettled $16.00M USD 1 Quarter
Repurchase of common stock not settled RepurchaseOfCommonStockNotSettled - USD 1 Quarter
Stockholders Equity 25 line items
Line Item Tag Value Unit Period
Beginning Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.12B USD Point-in-time
Beginning Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $15.22B USD Point-in-time
Beginning Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.77B USD Point-in-time
Beginning Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $16.01B USD Point-in-time
Net income ProfitLoss $795.20M USD 1 Quarter
Net income ProfitLoss $1.15B USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $5.80M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $900.00K USD 1 Quarter
Stock issued under employee incentive plans StockIssuedDuringPeriodValueShareBasedCompensation $11.40M USD 1 Quarter
Stock issued under employee incentive plans StockIssuedDuringPeriodValueShareBasedCompensation $100.00K USD 1 Quarter
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $33.00M USD 1 Quarter
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $26.30M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $21.70M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $23.70M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $80.10M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $72.90M USD 1 Quarter
Repurchases of common stock StockRepurchasedAndRetiredDuringPeriodValue $278.20M USD 1 Quarter
Repurchases of common stock StockRepurchasedAndRetiredDuringPeriodValue $69.80M USD 1 Quarter
Distributions to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $100.00K USD 1 Quarter
Change of ownership interest in Forestar ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesIssuanceOfEquityBySubsidiaryToNoncontrollingInterests $1.80M USD 1 Quarter
Change of ownership interest in Forestar ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesIssuanceOfEquityBySubsidiaryToNoncontrollingInterests - USD 1 Quarter
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.12B USD Point-in-time
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $15.22B USD Point-in-time
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.77B USD Point-in-time
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $16.01B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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