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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES        
Net income $ 46.8 $ 39.7 $ 94.5 $ 128.0
Adjustments:        
Depreciation and amortization     2.3 2.0
Deferred income taxes     (2.8) 1.2
Equity in earnings of unconsolidated ventures 0.0 0.0 0.0 (1.1)
Stock-based compensation expense 0.9 0.8 3.4 2.8
Impairments and land option charges     23.6 7.0
Gain on sale of assets 0.0 2.7 1.6 3.2
Changes in operating assets and liabilities:        
Decrease (increase) in real estate     87.7 (170.3)
Increase in other assets     (6.7) (11.7)
(Decrease) increase in accounts payable and other accrued liabilities     (19.6) 29.8
(Decrease) increase in accrued development costs     (31.2) 6.5
Decrease in earnest money deposits on sales contracts     (13.4) (1.2)
Net cash provided by (used in) operating activities     136.2 (10.2)
INVESTING ACTIVITIES        
Expenditures for property, equipment, software and other     (0.8) (3.2)
Return of investment in unconsolidated ventures     0.0 1.6
Proceeds from sale of assets     1.6 3.2
Net cash provided by investing activities     0.8 1.6
FINANCING ACTIVITIES        
Issuance of common stock     0.0 1.7
Cash paid for shares withheld for taxes     (0.8) (0.4)
Net cash (used in) provided by financing activities     (0.8) 1.3
Increase (decrease) in cash and cash equivalents     136.2 (7.3)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 401.0 $ 146.3 $ 401.0 $ 146.3