8-KOther Events

HORTON D R INC /DE/ 8-K Report (Apr 15, 2003)

Filed April 15, 2003For Securities:DHI

Summary

This Form 8-K filing by D.R. Horton, Inc. (DHI) on April 15, 2003, primarily serves to provide an update on the financial impact of its previously disclosed acquisition of Schuler Homes, Inc. The company has filed an unaudited pro forma combined condensed statement of income for the year ended September 30, 2002. This pro forma statement reflects the financial results as if the Schuler Homes acquisition had occurred at the beginning of that fiscal year, incorporating the latest determined fair values of acquired assets and assumed liabilities. While this pro forma information is supplementary and not intended to represent actual historical results or predict future performance, it offers investors a clearer, albeit hypothetical, view of the combined entity's financial scale for the reporting period. Investors should note that the pro forma figures are based on estimates and are subject to further adjustments. The filing emphasizes that these results should not be construed as representative of future operating results, highlighting the importance of careful interpretation.

Key Highlights

  • 1D.R. Horton (DHI) filed an 8-K on April 15, 2003.
  • 2The filing includes an unaudited pro forma combined condensed statement of income for the year ended September 30, 2002.
  • 3This pro forma statement reflects the acquisition of Schuler Homes, Inc., which occurred on February 21, 2002.
  • 4The pro forma statement incorporates updated fair value determinations for Schuler Homes' assets and liabilities assumed by DHI.
  • 5The filing provides supplementary financial information, offering a hypothetical view of combined results for the specified period.
  • 6D.R. Horton's Executive Vice President, Treasurer and Chief Financial Officer, Samuel R. Fuller, signed the report.
  • 7The company explicitly states that the pro forma results do not represent actual historical performance and should not be used to predict future operating results.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide investors with an unaudited pro forma combined condensed statement of income for the year ended September 30, 2002, reflecting the acquisition of Schuler Homes, Inc. It offers a supplementary view of the combined entity's financial performance.

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

No, the pro forma financial statements are not actual historical results. They are supplementary and present hypothetical combined financial information as if the acquisition had occurred at an earlier date. The company explicitly states these do not purport to show actual operating results and should not be construed as representative of future operating results.

The filing's Exhibit 99.1 provides an unaudited pro forma combined condensed statement of income for D.R. Horton, Inc. and Schuler Homes, Inc. for the year ended September 30, 2002, incorporating updated fair value determinations.