|Exchange:||New York Stock Exchange|
|Stock:||DR Horton Inc|
|DR Horton Inc began its homebuilding business in 1978. In 1991, the Company was incorporated in Delaware to acquire the assets and businesses of its predecessor companies, which were residential home construction and development companies owned or controlled by Mr. Horton. In 1992, the Company completed its initial public offering of its common stock. It is engaged as a homebuilding companies in the United States. It constructs and sells homes through its operating divisions in 26 states and 77 metropolitan markets of the United States, mainly under the name of D.R. Horton, America’s Builder. Through its financial services operations, it provides mortgage financing and title agency services to homebuyers in many of its homebuilding markets. DHI Mortgage, wholly-owned subsidiary, provides mortgage financing services to the purchasers of homes they build. Financial reporting segments consist of six homebuilding segments and a financial services segment. The Company has 29 separate homebuilding operating divisions, many of which operate in more than one market area. Each operating division is responsible for: Site selection, Negotiating lot option or similar contracts; Obtaining all necessary land development and home construction approvals; Overseeing land development; Selecting building plans and architectural schemes; Selecting and managing construction subcontractors and suppliers; Planning and managing homebuilding schedules; and Developing and implementing marketing plans. The Company offers optional interior and exterior features to allow homebuyers to enhance the basic home design and to allow the Company to generate additional revenues from each home sold. All of its construction work is performed by subcontractors. Construction time for its homes depends on the weather, availability of labor, materials and supplies, size of the home, and other factors. The homebuilding industry faces complex regulations.|
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