Capitalized Interest (Tables)

6 Months Ended

Mar. 31, 2023

The following table summarizes the Company’s interest costs incurred, capitalized and expensed during the three and six months ended March 31, 2023 and 2022:


	Three Months Ended March 31,				Six Months Ended March 31,
	2023		2022		2023		2022
	(In millions)
Capitalized interest, beginning of period	$	255.1	$	221.3	$	237.4	$	217.7
Interest incurred (1)	50.6		36.7		96.8		73.6
Interest charged to cost of sales	(34.0)		(34.7)		(62.5)		(68.0)
Capitalized interest, end of period	$	271.7	$	223.3	$	271.7	$	223.3

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(1) Interest incurred includes (a) interest on the Company's mortgage repurchase facility of $9.7 million and $17.8 million in the three and six months ended March 31, 2023, respectively, and $3.0 million and $7.0 million in the same periods of fiscal 2022; (b) Forestar interest of $8.2 million and $16.4 million in the three and six months ended March 31, 2023, respectively, and $8.1 million and $16.2 million in the same periods of fiscal 2022; and (c) interest on DRH Rental’s revolving credit facility of $13.7 million and $22.7 million in the three and six months ended March 31, 2023, respectively.