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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2020
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES      
Net income $ 10.4 $ 27.1 $ 16.7
Adjustments:      
Depreciation and amortization   3.4 3.0
Deferred income taxes   9.4 3.9
Equity in earnings of unconsolidated ventures (0.3) (0.8) (0.6)
Distributions of earnings of unconsolidated ventures   0.0 4.9
Stock-based compensation expense 0.8 1.3 0.2
Production Related Impairments or Charges 0.1 0.4 0.4
Gain on sale of assets (0.3) (0.1) (0.9)
Changes in operating assets and liabilities:      
Increase in real estate   (170.7) (353.5)
Increase in other assets   (4.5) (1.6)
(Decrease) increase in accounts payable and other accrued liabilities   (1.0) 12.6
Increase in earnest money deposits on sales contracts   11.0 29.5
Decrease in income taxes receivable   0.7 1.9
Net cash used in operating activities   (123.8) (283.5)
INVESTING ACTIVITIES      
Expenditures for property, equipment, software and other   (0.2) (0.8)
Return of investment in unconsolidated ventures   2.4 0.1
Proceeds from sale of assets   1.3 0.0
Net cash provided by (used in) investing activities   3.5 (0.7)
FINANCING ACTIVITIES      
Proceeds from Notes Payable   300.0 40.0
Repayments of Notes Payable   (118.9) (5.0)
Deferred financing fees   (4.8) 0.0
Distributions to noncontrolling interests, net   (0.4) (3.6)
Cash paid for shares withheld for taxes   (0.2) (0.1)
Net cash provided by financing activities   175.7 31.3
Net increase (decrease) in cash and cash equivalents   55.4 (252.9)
Cash and cash equivalents 438.2 438.2  
Cash and cash equivalents at beginning of period   382.8 335.0
Cash and cash equivalents at end of period $ 438.2 $ 438.2 $ 82.1