Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2018

The Company’s property and equipment balances and the related accumulated depreciation at September 30, 2018 and 2017 were as follows:



	September 30,
	2018			2017
	(In millions)
Buildings and improvements (1)	$	292.3		$	219.0
Multi-family rental properties under construction	54.1			59.2
Model home furniture	127.8			120.4
Office furniture and equipment	107.8			99.7
Land (1)	63.8			52.9
Total property and equipment	645.8			551.2
Accumulated depreciation	(244.7		)	(226.2		)
Property and equipment, net	$	401.1		$	325.0

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(1)	At September 30, 2018 and 2017, buildings and improvements included $87.3 million and $15.3 million, respectively, related to completed multi-family rental properties and land included $36.7 million and $25.2 million, respectively, related to the Company’s multi-family rental operations.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The purchase price was allocated based on the estimated fair value of 100% of Forestar’s assets and liabilities, as follows (in millions):



Cash	$	401.9
Inventories	334.6
Investment in unconsolidated entities	98.5
Other assets	51.6
Goodwill	29.2
Total assets	915.8

Accounts payable	2.8
Accrued expenses and other liabilities	49.4
Notes payable	130.1
Total liabilities	182.3

Less: Noncontrolling interests	175.2
Net assets acquired	$	558.3

Business Acquisition, Pro Forma Information [Table Text Block]

The following unaudited pro forma data presents consolidated pro forma information as if the acquisition had been completed on October 1, 2016. The unaudited pro forma results include adjustments for interest expense and other acquisition related costs and their related income tax effects. This pro forma data should not be considered indicative of the results that would have actually occurred if the acquisition had been consummated on October 1, 2016 or of future results.



	Year Ended September 30,
	2018		2017
	(In millions)
Revenues	$	16,068.0	$	14,239.0
Net income attributable to D.R. Horton, Inc.	$	1,463.6	$	1,124.1
Diluted net income per common share attributable to D.R. Horton, Inc.	$	3.82	$	2.97

Goodwill by reporting segment

The Company’s goodwill balances by reporting segment were as follows:



	September 30,
	2018		2017
	(In millions)
East	$	21.8	$	21.8
Midwest	—		—
Southeast	40.1		40.1
South Central	15.9		15.9
Southwest	—		—
West	2.2		2.2
Forestar	29.2		—
Total goodwill	$	109.2	$	80.0