Investment in Unconsolidated Ventures

9 Months Ended

Jun. 30, 2019

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Ventures

Investment in Unconsolidated Ventures

At June 30, 2019, the Company had ownership interests in four ventures that it accounted for using the equity method. Combined summarized balance sheet and income statement information for these unconsolidated ventures follows:

	June 30, 2019		September 30, 2018
	(In millions)
Assets:
Cash and cash equivalents	$	1.6	$	10.2
Real estate	13.6		17.2
Other assets	0.1		0.1
Total assets	$	15.3	$	27.5
Liabilities and Equity:
Accounts payable and other liabilities	$	0.3	$	0.6
Equity	15.0		26.9
Total liabilities and equity	$	15.3	$	27.5
Forestar's investment in unconsolidated ventures	$	7.3	$	11.7

	Three Months Ended June 30,					Nine Months Ended June 30,
	2019			2018		2019		2018
	(In millions)
Revenues	$	0.1		$	2.8	$	1.9	$	14.8
Earnings	(0.1		)	2.7		1.3		24.4
Forestar's equity in earnings of unconsolidated ventures	—			1.0		0.5		9.6

In the nine months ended June 30, 2018, a venture in which the Company owned a 30% interest sold a multifamily project in Nashville for $71.7 million and recognized a gain of $19.0 million. The Company's share of earnings from this transaction was $7.8 million.