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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES      
Net income $ 178.8 $ 110.5 $ 61.7
Adjustments:      
Depreciation and amortization 2.7 2.7 4.9
Deferred income taxes 12.5 19.2 23.1
Equity in earnings of unconsolidated ventures (1.2) (0.2) (0.7)
Stock-based compensation expense 3.3 2.6 2.0
Real estate impairment and land option charges 12.5 3.0 0.9
Loss on extinguishment of debt 0.0 (18.1) 0.0
Gain on sale of assets 3.2 2.5 0.1
Other 0.0 0.1 0.1
Changes in operating assets and liabilities:      
Increase in real estate (142.3) (585.9) (281.7)
Increase in other assets (1.6) (14.8) (3.4)
Increase in accounts payable and other accrued liabilities 40.9 28.0 15.0
Increase in accrued development costs 17.8 60.1 9.0
(Decrease) increase in earnest money deposits on sales contracts (11.5) 49.7 3.9
Decrease (increase) in income taxes receivable 0.0 6.3 (3.1)
Net cash provided by (used in) operating activities 108.7 (303.1) (168.4)
INVESTING ACTIVITIES      
Expenditures for property, equipment, software and other (3.5) (1.6) (0.6)
Return of investment in unconsolidated ventures 1.6 2.6 4.3
Proceeds from sale of assets 3.2 0.0 1.3
Net cash provided by investing activities 1.3 1.0 5.0
FINANCING ACTIVITIES      
Issuance of common stock 1.7 33.4 0.0
Proceeds from debt 0.0 458.0 300.0
Repayments of debt 0.0 (422.0) (118.9)
Deferred financing fees 0.0 (4.9) (5.3)
Purchase of noncontrolling interest 0.0 (2.4) 0.0
Distributions to noncontrolling interests, net 0.0 (0.1) (0.6)
Cash paid for shares withheld for taxes (0.5) (0.6) (0.3)
Net cash provided by financing activities 1.2 61.4 174.9
Net increase (decrease) in cash and cash equivalents 111.2 (240.7) 11.5
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 264.8 153.6 394.3
Cash paid during the year for:      
Note payable issued for real estate 0.0 12.5 0.0
Income taxes paid (refunded), net $ 42.4 $ 4.3 $ (3.1)