CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2025	Sep. 30, 2024
ASSETS
Cash and cash equivalents	$ 379.2	$ 481.2
Real estate	2,645.1	2,266.2
Investment in unconsolidated ventures	0.0	0.3
Property and equipment, net	8.1	7.1
Other assets	104.6	85.3
Total assets	3,137.0	2,840.1
LIABILITIES
Accounts payable	71.0	85.9
Accrued development costs	131.8	144.6
Earnest money on sales contracts	193.3	172.3
Deferred tax liability, net	86.2	67.5
Accrued expenses and other liabilities	83.1	68.3
Debt	802.7	706.4
Total liabilities	1,368.1	1,245.0
Commitments and contingencies (Note 12)
Forestar Group Inc. shareholders’ equity:
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 50,833,171 and 50,653,637 shares issued and outstanding at September 30, 2025 and 2024, respectively	50.8	50.7
Additional paid-in capital	671.0	665.2
Retained earnings	1,046.1	878.2
Stockholders' equity	1,767.9	1,594.1
Noncontrolling interests	1.0	1.0
Total equity	1,768.9	1,595.1
Total liabilities and equity	$ 3,137.0	$ 2,840.1