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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES    
Net income $ 16.8 $ 3.9
Adjustments:    
Depreciation and amortization 1.9 1.4
Deferred income taxes 5.6 1.4
Equity in earnings of unconsolidated ventures (0.5) (0.6)
Distributions of earnings of unconsolidated ventures 0.0 4.9
Stock-based compensation expense 0.5 0.1
Asset impairments 0.3 0.4
Loss (gain) on sale of assets 0.1 (0.9)
Changes in operating assets and liabilities:    
Increase in real estate 38.2 195.2
Increase in other assets (0.7) (1.3)
Increase in accounts payable and other accrued liabilities 3.4 3.1
(Decrease) increase in earnest money deposits on sales contracts (0.2) 18.8
Increase in income taxes receivable (0.6) (0.1)
Net cash used in operating activities (11.6) (164.1)
INVESTING ACTIVITIES    
Expenditures for property, equipment, software and other 0.0 (0.1)
Return of investment in unconsolidated ventures 1.8 0.1
Proceeds from sale of assets 1.3 0.0
Net cash provided by investing activities 3.1 0.0
FINANCING ACTIVITIES    
Deferred financing fees (0.4) 0.0
Distributions to noncontrolling interests, net (0.4) (0.5)
Settlement of equity awards (0.2) (0.1)
Net cash used in financing activities (1.0) (0.6)
Net decrease in cash and cash equivalents (9.5) (164.7)
Cash and cash equivalents $ 373.3 $ 170.3