Preferred Stock, Par or Stated Value Per Share

[Table of Contents](#if5e2d1c13bd74a82945554c9f702e646_7)PART I. FINANCIAL INFORMATION  
ITEM 1. FINANCIAL STATEMENTS  
D.R. HORTON, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS  


|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | June 30,2022 |  | September 30,2021 |
|  | (In millions)(Unaudited) |
| ASSETS |  |  |  |
| Cash and cash equivalents | $ | 1,655.7  |  |  | $ | 3,210.4  |  |
| Restricted cash | 28.6  |  |  | 26.8  |  |
| Total cash, cash equivalents and restricted cash | 1,684.3  |  |  | 3,237.2  |  |
| Inventories: |  |  |  |
| Construction in progress and finished homes | 10,803.1  |  |  | 7,739.2  |  |
| Residential land and lots — developed and under development | 8,787.6  |  |  | 7,781.8  |  |
| Land held for development | 124.5  |  |  | 110.9  |  |
| Land held for sale | 32.7  |  |  | 25.4  |  |
| Rental properties | 1,951.0  |  |  | 821.8  |  |
| Total inventory | 21,698.9  |  |  | 16,479.1  |  |
| Mortgage loans held for sale | 2,082.5  |  |  | 2,027.3  |  |
| Deferred income taxes, net of valuation allowance of $20.3 million and $4.2 millionat June 30, 2022 and September 30, 2021, respectively | 157.4  |  |  | 155.3  |  |
| Property and equipment, net | 481.3  |  |  | 392.9  |  |
| Other assets | 2,602.0  |  |  | 1,560.6  |  |
| Goodwill | 163.5  |  |  | 163.5  |  |
| Total assets | $ | 28,869.9  |  |  | $ | 24,015.9  |  |
| LIABILITIES |  |  |  |
| Accounts payable | $ | 1,507.3  |  |  | $ | 1,177.0  |  |
| Accrued expenses and other liabilities | 2,951.9  |  |  | 2,210.3  |  |
| Notes payable | 5,975.2  |  |  | 5,412.4  |  |
| Total liabilities | 10,434.4  |  |  | 8,799.7  |  |
| Commitments and contingencies (Note K) |  |  |  |
| EQUITY |  |  |  |
| Preferred stock, $.10 par value, 30,000,000 shares authorized, no shares issued | —  |  |  | —  |  |
| Common stock, $.01 par value, 1,000,000,000 shares authorized, 399,040,704 shares issuedand 347,377,037 shares outstanding at June 30, 2022 and 397,190,100 shares issuedand 356,015,843 shares outstanding at September 30, 2021 | 4.0  |  |  | 4.0  |  |
| Additional paid-in capital | 3,317.7  |  |  | 3,274.8  |  |
| Retained earnings | 17,631.6  |  |  | 13,644.3  |  |
| Treasury stock, 51,663,667 shares and 41,174,257 shares at June 30, 2022and September 30, 2021, respectively, at cost | (2,890.8) |  |  | (2,036.6) |  |
| Stockholders’ equity | 18,062.5  |  |  | 14,886.5  |  |
| Noncontrolling interests | 373.0  |  |  | 329.7  |  |
| Total equity | 18,435.5  |  |  | 15,216.2  |  |
| Total liabilities and equity | $ | 28,869.9  |  |  | $ | 24,015.9  |  |

  
  
  
See accompanying notes to consolidated financial statements.  
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