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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net income $ 128.0 $ 66.4
Adjustments:    
Depreciation and amortization 2.0 2.1
Deferred income taxes 1.2 4.6
Equity in earnings of unconsolidated ventures (1.1) (0.2)
Stock-based compensation expense 2.8 2.0
Real estate impairment and land option charges 7.0 1.6
Loss on extinguishment of debt 0.0 18.1
Gain on sale of assets (3.2) 0.0
Changes in operating assets and liabilities:    
Increase in real estate (170.3) (540.7)
Increase in other assets (11.7) (13.4)
Increase in accounts payable and other accrued liabilities 29.8 34.5
Increase in accrued development costs 6.5 26.3
(Decrease) increase in earnest money deposits on sales contracts (1.2) 51.8
Decrease in income taxes receivable 0.0 6.3
Net cash used in operating activities (10.2) (340.6)
INVESTING ACTIVITIES    
Expenditures for property, equipment, software and other (3.2) (0.5)
Return of investment in unconsolidated ventures 1.6 2.2
Proceeds from sale of assets 3.2 0.0
Net cash provided by investing activities 1.6 1.7
FINANCING ACTIVITIES    
Proceeds from debt 0.0 425.0
Repayments of debt 0.0 (389.0)
Deferred financing fees 0.0 (5.0)
Issuance of common stock 1.7 32.6
Purchase of noncontrolling interest 0.0 (2.4)
Distributions to noncontrolling interests, net 0.0 (0.1)
Cash paid for shares withheld for taxes (0.4) (0.5)
Net cash provided by financing activities 1.3 60.6
Net decrease in cash and cash equivalents (7.3) (278.3)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 146.3 116.0
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES    
Note payable issued for real estate $ 0.0 $ 12.5