8-KOther Events

HORTON D R INC /DE/ 8-K Report (Nov 26, 2002)

Filed November 26, 2002For Securities:DHI

Summary

D.R. Horton, Inc. (DHI) filed an 8-K on November 26, 2002, to provide updated unaudited pro forma combined condensed statements of income. These statements reflect the acquisition of Schuler Homes, Inc., which was completed on February 21, 2002. The pro forma information aims to give investors a clearer picture of the combined company's financial performance by incorporating the acquisition's impact, including preliminary fair value assessments of Schuler Homes' assets and liabilities. Investors should note that these pro forma statements are supplementary and do not represent actual historical results or guarantee future performance. They are intended to illustrate the financial impact of the Schuler Homes acquisition as if it had occurred at an earlier date, providing a basis for comparison and understanding the scale of the combined entity. The filing emphasizes that these figures are based on determinations made to date regarding fair values and are subject to further adjustments.

Key Highlights

  • 1Filing provides updated unaudited pro forma combined condensed statements of income for D.R. Horton.
  • 2The pro forma statements reflect the acquisition of Schuler Homes, Inc., completed on February 21, 2002.
  • 3The statements incorporate preliminary determinations of the fair values of Schuler Homes' acquired assets and assumed liabilities.
  • 4This filing offers supplementary financial information beyond previously filed pro forma data.
  • 5The pro forma statements cover the nine months ended June 30, 2002, and the year ended September 30, 2001.
  • 6The company cautions that the pro forma statements do not represent actual historical results and should not be construed as indicative of future operating results.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide investors with updated unaudited pro forma combined condensed statements of income. These statements are intended to show the financial impact of D.R. Horton's acquisition of Schuler Homes, Inc. on the company's income statement as if the acquisition had occurred earlier.

The acquisition of Schuler Homes, Inc. by D.R. Horton, Inc. was completed on February 21, 2002.

No, the pro forma statements are not actual historical financial results. They are supplementary and illustrative, aiming to show what the financial results might have looked like had the acquisition occurred at an earlier date. The filing explicitly states that these statements should not be construed as representative of future operating results.

The unaudited pro forma combined condensed statements of income cover two periods: the nine months ended June 30, 2002, and the full year ended September 30, 2001.