Summary of Quarterly Results of Operations (Unaudited)

12 Months Ended

Sep. 30, 2019

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited)

Consolidated quarterly results of operations for fiscal year 2019 and the nine months ended September 30, 2018 were (in millions, except per share amounts):

	Three Months Ended December 31, 2018		Three Months Ended March 31, 2019		Three Months Ended June 30, 2019		Three Months Ended September 30, 2019
2019
Total revenues	$	38.5	$	65.3	$	88.2	$	236.3
Income before income taxes	4.9		16.4		8.4		16.0
Income tax expense	1.0		3.6		1.5		3.4
Net income	3.9		12.8		6.9		12.6
Net income (loss) attributable to noncontrolling interests	0.6		2.7		—		(0.1		)
Net income attributable to Forestar Group Inc.	3.3		10.1		6.9		12.7
Net income per share — basic	$	0.08	$	0.24	$	0.16	$	0.30
Net income per share — diluted	$	0.08	$	0.24	$	0.16	$	0.30
			Three Months Ended March 31, 2018		Three Months Ended June 30, 2018		Three Months Ended September 30, 2018
2018
Total revenues			$	22.6	$	23.6	$	32.2
Income before income taxes			4.7		10.4		29.6
Income tax expense (benefit)			0.1		0.1		(25.6		)
Net income			4.6		10.3		55.2
Net income attributable to noncontrolling interests			0.1		0.9		0.3
Net income attributable to Forestar Group Inc.			4.5		9.4		54.9
Net income per share — basic			$	0.11	$	0.22	$	1.31
Net income per share — diluted			$	0.11	$	0.22	$	1.31

The income tax benefit in the three months ended September 30, 2018 was due to a reduction in the Company's valuation allowance on its deferred tax assets during the quarter.