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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES    
Net income $ 20.8 $ 40.5
Adjustments:    
Depreciation and amortization 0.7 0.8
Deferred income taxes (2.2) (0.2)
Equity in earnings of unconsolidated ventures 0.0 (1.1)
Stock-based compensation expense 0.6 0.4
Land option charges 2.4 0.6
Gain on sale of assets 1.6 0.5
Changes in operating assets and liabilities:    
Increase in real estate (49.9) (55.5)
Decrease in other assets 1.8 2.6
(Decrease) increase in accounts payable and other accrued liabilities (8.6) 12.2
(Decrease) increase in accrued development costs (24.3) 12.2
Increase (decrease) in earnest money deposits on sales contracts 10.5 (6.2)
Net cash (used in) provided by operating activities (49.8) 5.8
INVESTING ACTIVITIES    
Expenditures for property, equipment, software and other (0.1) (1.5)
Return of investment in unconsolidated ventures 0.0 1.5
Proceeds from sale of assets 1.6 3.2
Net cash provided by investing activities 1.5 3.2
FINANCING ACTIVITIES    
Cash paid for shares withheld for taxes (0.1) (0.1)
Net cash used in financing activities (0.1) (0.1)
(Decrease) increase in cash and cash equivalents (48.4) 8.9
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 216.4 162.5
SUPPLEMENTAL CASH FLOW INFORMATION:    
Issuance of common stock not settled $ 0.0 $ 1.7