Revenues (Notes)

6 Months Ended

Mar. 31, 2022

Revenues [Abstract]

Revenue from Contract with Customer [Text Block]

RevenuesRevenues consist of:

	Three Months Ended March 31,				Six Months Ended March 31,
	2022		2021		2022		2021
	(In millions)
Residential lot sales	$	409.0	$	280.2	$	813.1	$	587.1
Deferred development lot sales	12.5		—		12.5		—
Tract sales and other	0.1		6.9		3.6		7.1
	$	421.6	$	287.1	$	829.2	$	594.2

In the three and six months ended March 31, 2022, deferred development lot sales represent 787 undeveloped and partially developed lots that were sold to a customer other than D.R. Horton for a total transaction price of $54.7 million. The Company will complete the development of these lots as part of the transaction. The Company received $26.0 million in cash at closing with the remainder due as development of the lots is completed. In the three and six months ended March 31, 2022, the Company recognized revenue of $12.5 million related to this transaction. The remaining revenue will be recognized over time as the Company’s development obligations are completed, which is anticipated to be within one year from contract inception.