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Capitalized Interest
 9 Months Ended
Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Capitalized Interest Capitalized Interest
The Company capitalizes interest costs to real estate throughout the development period (active real estate). Capitalized interest is charged to cost of sales as the related real estate is sold. During periods in which the Company’s active real estate is lower than its debt level, a portion of the interest incurred is reflected as interest expense in the period incurred. In the first nine months of fiscal 2024 and fiscal 2023, the Company’s active real estate exceeded its debt level, and all interest incurred was capitalized to real estate.

The following table summarizes the Company’s interest costs incurred, capitalized and expensed in the three and nine months ended June 30, 2024 and 2023.

Three Months Ended June 30,Nine Months Ended June 30,
 2024202320242023
 (In millions)
Capitalized interest, beginning of period$62.1 $58.8 $58.4 $52.5 
Interest incurred8.2 8.2 24.5 24.6 
Interest charged to cost of sales(5.8)(6.5)(18.4)(16.6)
Capitalized interest, end of period$64.5 $60.5 $64.5 $60.5