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10-Q Filing

HORTON D R INC /DE/ CIK: 882184 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0000882184-24-000014
Period End Date 20231231
Filing Date 20240124
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance dhi-20231231_htm.xml
Filing Contents
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.32B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.87B USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $21.20M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $26.50M USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.61B USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.34B USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.57B USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.90B USD Point-in-time
Construction in progress and finished homes InventoryHomesUnderConstruction $9.00B USD Point-in-time
Construction in progress and finished homes InventoryHomesUnderConstruction $9.47B USD Point-in-time
Residential land and lots developed and under development InventoryRealEstateLandAndLandDevelopmentCosts $11.50B USD Point-in-time
Residential land and lots developed and under development InventoryRealEstateLandAndLandDevelopmentCosts $10.62B USD Point-in-time
Land held for development InventoryLandHeldForDevelopmentAndSale $50.00M USD Point-in-time
Land held for development InventoryLandHeldForDevelopmentAndSale $134.50M USD Point-in-time
Land held for sale InventoryLandHeldForSale $8.70M USD Point-in-time
Land held for sale InventoryLandHeldForSale $3.50M USD Point-in-time
Rental properties InventoryOperativeBuildersOther $2.95B USD Point-in-time
Rental properties InventoryOperativeBuildersOther $2.69B USD Point-in-time
Total inventories InventoryRealEstate $24.05B USD Point-in-time
Total inventories InventoryRealEstate $22.37B USD Point-in-time
Mortgage loans held for sale LoansReceivableHeldForSaleNetNotPartOfDisposalGroup $2.04B USD Point-in-time
Mortgage loans held for sale LoansReceivableHeldForSaleNetNotPartOfDisposalGroup $2.52B USD Point-in-time
Deferred income taxes, net of valuation allowance of $14.8 million at December 31, 2023 and September 30, 2023 DeferredIncomeTaxAssetsNet $175.90M USD Point-in-time
Deferred income taxes, net of valuation allowance of $14.8 million at December 31, 2023 and September 30, 2023 DeferredIncomeTaxAssetsNet $187.20M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $445.40M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $475.50M USD Point-in-time
Other assets OtherAssets $2.99B USD Point-in-time
Other assets OtherAssets $3.13B USD Point-in-time
Goodwill Goodwill $163.50M USD Point-in-time
Goodwill Goodwill $163.50M USD Point-in-time
Total assets Assets $32.58B USD Point-in-time
Total assets Assets $33.38B USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $1.26B USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $1.25B USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrentAndNoncurrent $3.10B USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrentAndNoncurrent $3.23B USD Point-in-time
Notes payable NotesPayable $5.29B USD Point-in-time
Notes payable NotesPayable $5.09B USD Point-in-time
Total liabilities Liabilities $9.44B USD Point-in-time
Total liabilities Liabilities $9.78B 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, 401,869,172 shares issued and 332,190,334 shares outstanding at December 31, 2023 and 401,202,253 shares issued and 334,848,565 shares outstanding at September 30, 2023 CommonStockValue $4.00M USD Point-in-time
Common stock, $.01 par value, 1,000,000,000 shares authorized, 401,869,172 shares issued and 332,190,334 shares outstanding at December 31, 2023 and 401,202,253 shares issued and 334,848,565 shares outstanding at September 30, 2023 CommonStockValue $4.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $3.44B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $3.43B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $23.59B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $24.44B USD Point-in-time
Treasury stock, 69,678,838 shares and 66,353,688 shares at December 31, 2023 and September 30, 2023, respectively, at cost TreasuryStockValue $4.73B USD Point-in-time
Treasury stock, 69,678,838 shares and 66,353,688 shares at December 31, 2023 and September 30, 2023, respectively, at cost TreasuryStockValue $4.33B USD Point-in-time
Stockholders equity StockholdersEquity $22.70B USD Point-in-time
Stockholders equity StockholdersEquity $23.15B USD Point-in-time
Noncontrolling interests MinorityInterest $450.10M USD Point-in-time
Noncontrolling interests MinorityInterest $441.70M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $23.14B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $19.79B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $23.60B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $20.55B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $32.58B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $33.38B USD Point-in-time
Income Statement 26 line items
Line Item Tag Value Unit Period
Revenues Revenues $7.26B USD 1 Quarter
Revenues Revenues $7.73B USD 1 Quarter
Cost of sales CostOfRevenue $5.72B USD 1 Quarter
Cost of sales CostOfRevenue $5.29B USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $737.00M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $835.00M USD 1 Quarter
Other (income) expense OtherNonoperatingIncomeExpense $37.70M USD 1 Quarter
Other (income) expense OtherNonoperatingIncomeExpense $76.30M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.25B USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.27B USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $298.90M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $291.80M USD 1 Quarter
Net income ProfitLoss $968.30M USD 1 Quarter
Net income ProfitLoss $955.70M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $9.60M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $8.30M USD 1 Quarter
Net income attributable to D.R. Horton, Inc. NetIncomeLoss $958.70M USD 1 Quarter
Net income attributable to D.R. Horton, Inc. NetIncomeLoss $947.40M USD 1 Quarter
Basic net income per common share attributable to D.R. Horton, Inc. (in dollars per share) EarningsPerShareBasic $2.84 USD 1 Quarter
Basic net income per common share attributable to D.R. Horton, Inc. (in dollars per share) EarningsPerShareBasic $2.79 USD 1 Quarter
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 333.30M shares 1 Quarter
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 344.20M shares 1 Quarter
Diluted net income per common share attributable to D.R. Horton, Inc. (in dollars per share) EarningsPerShareDiluted $2.76 USD 1 Quarter
Diluted net income per common share attributable to D.R. Horton, Inc. (in dollars per share) EarningsPerShareDiluted $2.82 USD 1 Quarter
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 346.90M shares 1 Quarter
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 335.70M shares 1 Quarter
Cash Flow Statement 86 line items
Line Item Tag Value Unit Period
Deferred Tax Assets, Valuation Allowance DeferredTaxAssetsValuationAllowance $14.80M USD Point-in-time
Deferred Tax Assets, Valuation Allowance DeferredTaxAssetsValuationAllowance $14.80M USD Point-in-time
Net income ProfitLoss $968.30M 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
Net income ProfitLoss $955.70M USD 1 Quarter
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 $19.80M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $20.00M 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 $22.90M 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
Stock-based compensation expense ShareBasedCompensation $40.90M USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $-3.20M USD 1 Quarter
Common Stock, Shares Authorized CommonStockSharesAuthorized 1.00B shares Point-in-time
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $-11.30M USD 1 Quarter
Common Stock, Shares Authorized CommonStockSharesAuthorized 1.00B shares Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 401.20M shares Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 401.87M shares Point-in-time
Inventory and land option charges ProductionRelatedImpairmentsOrCharges $27.50M USD 1 Quarter
Inventory and land option charges ProductionRelatedImpairmentsOrCharges $6.10M USD 1 Quarter
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 334.85M shares Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 332.19M shares Point-in-time
(Increase) decrease in construction in progress and finished homes IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories $466.40M USD 1 Quarter
Treasury Stock, Common, Shares TreasuryStockCommonShares 66.35M shares Point-in-time
(Increase) decrease in construction in progress and finished homes IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories $-320.70M USD 1 Quarter
Treasury Stock, Common, Shares TreasuryStockCommonShares 69.68M shares Point-in-time
Increase in residential land and lots developed, under development, held for development and held for sale IncreaseDecreaseInInventoryForLongTermContractsOrPrograms $937.80M USD 1 Quarter
Increase in residential land and lots developed, under development, held for development and held for sale IncreaseDecreaseInInventoryForLongTermContractsOrPrograms $637.50M USD 1 Quarter
Increase in rental properties IncreaseDecreaseInRentalProperties $256.50M USD 1 Quarter
Increase in rental properties IncreaseDecreaseInRentalProperties $357.00M USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-330.20M USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $130.00M USD 1 Quarter
Decrease in mortgage loans held for sale IncreaseDecreaseInMortgageLoansHeldForSale $-475.80M USD 1 Quarter
Decrease in mortgage loans held for sale IncreaseDecreaseInMortgageLoansHeldForSale $-603.30M USD 1 Quarter
Increase (decrease) in accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $127.50M USD 1 Quarter
Increase (decrease) in accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-472.30M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-153.40M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $829.10M USD 1 Quarter
Expenditures for property and equipment PaymentsToAcquirePropertyPlantAndEquipment $47.60M USD 1 Quarter
Expenditures for property and equipment PaymentsToAcquirePropertyPlantAndEquipment $47.50M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfBuildings $9.90M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfBuildings - USD 1 Quarter
Payments related to business acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $1.00M USD 1 Quarter
Payments related to business acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $97.10M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $-1.70M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $600.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-39.30M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-142.90M USD 1 Quarter
Proceeds from notes payable ProceedsFromNotesPayable $300.00M USD 1 Quarter
Proceeds from notes payable ProceedsFromNotesPayable $720.00M USD 1 Quarter
Repayment of notes payable RepaymentsOfNotesPayable $300.00M USD 1 Quarter
Repayment of notes payable RepaymentsOfNotesPayable $170.00M USD 1 Quarter
Payments on mortgage repurchase facilities, net ProceedsFromRepaymentsOfLinesOfCredit $-389.90M USD 1 Quarter
Payments on mortgage repurchase facilities, net ProceedsFromRepaymentsOfLinesOfCredit $-404.40M USD 1 Quarter
Proceeds from stock associated with certain employee benefit plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $1.60M USD 1 Quarter
Proceeds from stock associated with certain employee benefit plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $5.50M USD 1 Quarter
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $25.70M USD 1 Quarter
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $37.50M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $86.10M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $99.90M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfEquity $118.10M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfEquity $376.90M USD 1 Quarter
Net other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-10.20M USD 1 Quarter
Net other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-17.80M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-362.80M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-646.60M USD 1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $39.60M USD 1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-555.50M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.61B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.34B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.57B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.90B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.61B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.34B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.57B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.90B USD Point-in-time
Notes payable issued for inventory NotesIssued1 $21.90M USD 1 Quarter
Notes payable issued for inventory NotesIssued1 $31.20M USD 1 Quarter
Stock issued under employee incentive plans StockIssued1 $66.50M USD 1 Quarter
Stock issued under employee incentive plans StockIssued1 $46.90M USD 1 Quarter
Repurchases of common stock not settled RepurchaseOfCommonStockNotSettled - USD 1 Quarter
Repurchases of common stock not settled RepurchaseOfCommonStockNotSettled $18.30M USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Beginning Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $23.14B USD Point-in-time
Beginning Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $19.79B USD Point-in-time
Beginning Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $23.60B USD Point-in-time
Beginning Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $20.55B USD Point-in-time
Net income ProfitLoss $968.30M USD 1 Quarter
Net income ProfitLoss $955.70M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $2.60M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $1.60M USD 1 Quarter
Stock issued under employee incentive plans StockIssuedDuringPeriodValueShareBasedCompensation $3.10M USD 1 Quarter
Stock issued under employee incentive plans StockIssuedDuringPeriodValueShareBasedCompensation $2.90M USD 1 Quarter
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $25.70M USD 1 Quarter
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $37.50M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $40.90M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $22.90M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $99.90M USD 1 Quarter
Cash dividends declared DividendsCommonStockCash $86.10M USD 1 Quarter
Repurchases of common stock StockRepurchasedAndRetiredDuringPeriodValue $398.30M USD 1 Quarter
Repurchases of common stock StockRepurchasedAndRetiredDuringPeriodValue $118.10M USD 1 Quarter
Change of ownership interest in Forestar ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesIssuanceOfEquityBySubsidiaryToNoncontrollingInterests - USD 1 Quarter
Change of ownership interest in Forestar ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesIssuanceOfEquityBySubsidiaryToNoncontrollingInterests - USD 1 Quarter
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $23.14B USD Point-in-time
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $19.79B USD Point-in-time
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $23.60B USD Point-in-time
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $20.55B USD Point-in-time

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

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