Notes Payable (Tables)

12 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Summary of notes payable at principal amounts, net of unamortized discounts

The Company’s notes payable at their principal amounts, net of unamortized discounts and debt issuance costs, consist of the following:

	September 30,
	2018		2017
	(In millions)
Homebuilding:
Unsecured:
Revolving credit facility, maturing 2023	$	—	$	—
3.625% senior notes due 2018	—		399.7
3.75% senior notes due 2019	499.6		498.8
4.0% senior notes due 2020	498.8		497.9
2.55% senior notes due 2020	397.9		—
4.375% senior notes due 2022	348.4		348.1
4.75% senior notes due 2023	298.7		298.4
5.75% senior notes due 2023	398.0		397.6
Other secured notes	4.5		11.1
	2,445.9		2,451.6
Forestar:
Unsecured:
Revolving credit facility, maturing 2021	—
3.75% convertible senior notes due 2020	119.9
	119.9
Financial Services:
Mortgage repurchase facility, maturing 2019	637.7		420.0
	$	3,203.5	$	2,871.6

Summary of notes payable terms

The key terms of the Company’s homebuilding senior notes outstanding as of September 30, 2018 are summarized below.

Notes Payable	Principal Amount	Date Issued	Date Due	Redeemable Prior to Maturity (1)	Effective Interest Rate (2)
	(In millions)
3.75% senior notes	$500.0	February 2014	March 1, 2019	Yes	3.9%
4.0% senior notes	$500.0	February 2015	February 15, 2020	Yes	4.2%
2.55% senior notes	$400.0	December 2017	December 1, 2020	Yes	2.8%
4.375% senior notes	$350.0	September 2012	September 15, 2022	Yes	4.5%
4.75% senior notes	$300.0	February 2013	February 15, 2023	Yes	4.9%
5.75% senior notes	$400.0	August 2013	August 15, 2023	Yes	5.9%

_____________

(1) The Company may redeem the notes in whole at any time or in part from time to time, at a redemption price equal to the greater of 100% of their principal amount or the present value of the remaining scheduled payments on the redemption date, plus accrued and unpaid interest.

(2) Interest is payable semi-annually on each of the series of senior notes. The annual effective interest rate is calculated after giving effect to the amortization of debt issuance costs.