Revenues Revenues (Notes)

3 Months Ended

Dec. 31, 2018

Revenues [Abstract]

Revenue from Contract with Customer [Text Block]

Revenues

On October 1, 2018, the Company adopted Accounting Standards Codification 606, "Revenue from Contracts with Customers" (ASC 606), which is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services and satisfaction of performance obligations to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The Company applied the modified retrospective method to contracts that were not completed as of October 1, 2018. Results for the reporting period beginning after October 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and will continue to be reported under the previous accounting standards. Under ASC 606 the Company's performance obligations are typically satisfied at closing. However, there may be instances in which the Company has an unsatisfied remaining performance obligation at the time of closing. In these instances, the Company records contract liabilities and recognizes those revenues over time using the percentage of completion method based upon actual costs incurred. Generally, the Company's unsatisfied remaining performance obligations are expected to have an original duration of less than one year. As of October 1, 2018 the Company established contract liabilities of $6.4 million related to its remaining unsatisfied performance obligations at the time of adoption of ASC 606. There was no impact to the amount or timing of revenues recognized as a result of applying ASC 606 for the three months ended December 31, 2018.

Revenues consist of:

	Three Months Ended December 31,
	2018		2017
	(In millions)
Residential real estate	$	32.5	$	23.4
Land and lot banking	2.2		—
Commercial real estate	3.5		7.2
Other	0.3		0.3
	$	38.5	$	30.9

In the three months ended December 31, 2018 the Company recognized $0.9 million of revenue as a result of our progress towards completion of our remaining unsatisfied performance obligations.