CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Sep. 30, 2025
ASSETS
Cash and Cash Equivalent	$ 211.7	$ 379.2
Real estate	2,850.5	2,645.1
Property and equipment, net	7.8	8.1
Other assets	106.6	104.6
Total assets	3,176.6	3,137.0
LIABILITIES
Accounts payable	80.1	71.0
Accrued development costs	131.6	131.8
Earnest money on sales contracts	210.0	193.3
Deferred tax liability, net	87.4	86.2
Accrued expenses and other liabilities	87.3	83.1
Debt	793.2	802.7
Total liabilities	1,389.6	1,368.1
Commitments and contingencies (Note 11)
Forestar Group Inc. shareholders’ equity:
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 50,885,325 and 50,833,171 shares issued and outstanding at December 31, 2025 and September 30, 2025, respectively	50.9	50.8
Additional paid-in capital	673.6	671.0
Retained earnings	1,061.5	1,046.1
Stockholders' equity	1,786.0	1,767.9
Noncontrolling interests	1.0	1.0
Total equity	1,787.0	1,768.9
Total liabilities and equity	$ 3,176.6	$ 3,137.0