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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES    
Net income $ 38.2 $ 20.8
Adjustments:    
Depreciation and amortization 0.8 0.7
Deferred income taxes (0.5) (2.2)
Stock-based compensation expense 0.9 0.6
Impairments and land option charges 0.2 2.4
Gain on sale of assets 0.0 1.6
Changes in operating assets and liabilities:    
Increase in real estate (209.8) (49.9)
(Increase) decrease in other assets (0.9) 1.8
Decrease in accounts payable and other accrued liabilities (0.9) (8.6)
Decrease in accrued development costs (4.2) (24.3)
Increase in earnest money deposits on sales contracts 19.5 10.5
Net cash used in operating activities (156.7) (49.8)
INVESTING ACTIVITIES    
Expenditures for property, equipment, software and other (0.2) (0.1)
Proceeds from sale of assets 0.0 1.6
Net cash (used in) provided by investing activities (0.2) 1.5
FINANCING ACTIVITIES    
Cash paid for shares withheld for taxes (0.2) (0.1)
Net cash used in financing activities (0.2) (0.1)
Decrease in cash and cash equivalents (157.1) (48.4)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance 616.0 264.8
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance 458.9 216.4
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES    
Notes Issued $ 9.9 $ 0.0