SEC Comment Letter for HORTON D R (DHI) — Mar 17, 2022
HORTON D R INC /DE/ (DHI) (CIK 0000882184)
Date: March 17, 2022 · CIK: 0000882184 · Accession: 0000000000-22-002985
AI Filing Summary & Sentiment
File numbers found in text: 001-14122
Letter
United States securities and exchange commission logo March 17, 2022 Bill W. Wheat Executive Vice President and Chief Financial Officer D. R. Horton, Inc. 1341 Horton Circle Arlington, TX 76011 Re:D. R. Horton, Inc. Form 10-K for the Fiscal Year Ended September 30, 2021 Filed November 18, 2021 File No. 001-14122 Dear Mr. Wheat: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to the comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to the comment, we may have additional comments. Form 10-K for the Fiscal Year Ended September 30, 2021 Item 8. Financial Statements and Supplementary Data Notes to Consolidated Financial Statements Note A - Summary of Significant Accounting Policies Reclassifications, page 69 1.We note you changed your presentation of cash flows for the single and multi-family rental operations from investing activities to operating activities in your consolidated statements of cash flows beginning in the third quarter of your fiscal year ended September 30, 2021. Please address the following: •Please tell us how you determined that such activities are now deemed to be operating activities. Please refer to ASC 230-10-45 in your response. •Please tell us how you determined that such activities were previously deemed to be investing activities. Please refer to ASC 230-10-45 in your response. •Please tell us how you determined it was appropriate to change your cash flow
FirstName LastNameBill W. Wheat Comapany NameD. R. Horton, Inc. March 17, 2022 Page 2 FirstName LastName Bill W. Wheat D. R. Horton, Inc. March 17, 2022 Page 2 statement presentation on a prospective basis. Within your response, please reference the authoritative accounting literature management relied upon. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Frank Knapp, Staff Accountant at (202) 551-3805 or Jennifer Monick, Assistant Chief Accountant at (202) 551-3295 with any questions. Sincerely, Division of Corporation Finance Office of Real Estate & Construction
Show Raw Text
United States securities and exchange commission logo
March 17, 2022
Bill W. Wheat
Executive Vice President and Chief Financial Officer
D. R. Horton, Inc.
1341 Horton Circle
Arlington, TX 76011
Re:D. R. Horton, Inc.
Form 10-K for the Fiscal Year Ended September 30, 2021
Filed November 18, 2021
File No. 001-14122
Dear Mr. Wheat:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comment. In our comment, we may ask you to provide us
with information so we may better understand your disclosure.
Please respond to the comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to the comment, we may have additional comments.
Form 10-K for the Fiscal Year Ended September 30, 2021
Item 8. Financial Statements and Supplementary Data
Notes to Consolidated Financial Statements
Note A - Summary of Significant Accounting Policies
Reclassifications, page 69
1.We note you changed your presentation of cash flows for the single and multi-family
rental operations from investing activities to operating activities in your consolidated
statements of cash flows beginning in the third quarter of your fiscal year
ended September 30, 2021. Please address the following:
•Please tell us how you determined that such activities are now deemed to be
operating activities. Please refer to ASC 230-10-45 in your response.
•Please tell us how you determined that such activities were previously deemed to be
investing activities. Please refer to ASC 230-10-45 in your response.
•Please tell us how you determined it was appropriate to change your cash flow
FirstName LastNameBill W. Wheat
Comapany NameD. R. Horton, Inc.
March 17, 2022 Page 2
FirstName LastName
Bill W. Wheat
D. R. Horton, Inc.
March 17, 2022
Page 2
statement presentation on a prospective basis. Within your response, please reference
the authoritative accounting literature management relied upon.
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
You may contact Frank Knapp, Staff Accountant at (202) 551-3805 or Jennifer Monick,
Assistant Chief Accountant at (202) 551-3295 with any questions.
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction