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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
Net income $ 37.2 $ 23.6
Adjustments:    
Depreciation and amortization 4.2 4.8
Deferred income taxes 17.5 5.9
Equity in loss (earnings) of unconsolidated ventures (0.6) (0.5)
Distributions of earnings of unconsolidated ventures 0.0 4.9
Proceeds from Operating Activities 0.0 0.9
Stock-based compensation expense 1.6 1.1
Production Related Impairments or Charges 0.5 0.5
Gain on sale of assets (0.1) (2.4)
Changes in operating assets and liabilities:    
Increase in real estate (258.8) (551.5)
Increase in other assets (4.2) (4.1)
(Decrease) increase in accounts payable and other accrued liabilities (0.2) 30.2
Increase in earnest money deposits on sales contracts 2.9 35.4
(Increase) decrease in income taxes receivable (5.7) 1.1
Net cash used in operating activities (205.7) (450.1)
INVESTING ACTIVITIES    
Expenditures for property, equipment, software and other (0.6) (0.9)
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 3.1 (0.8)
FINANCING ACTIVITIES    
Proceeds from Notes Payable 300.0 435.0
Repayments of Notes Payable (118.9) (85.0)
Deferred financing fees (4.8) (6.9)
Distributions to noncontrolling interests, net (0.7) (3.9)
Cash paid for shares withheld for taxes (0.2) (0.1)
Net cash provided by financing activities 175.4 339.1
Net decrease in cash and cash equivalents (27.2) (111.8)
Cash and cash equivalents $ 355.6 $ 223.2