Notes Payable (Tables)

9 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

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

The Company’s notes payable at their carrying amounts consist of the following:

	June 30, 2023		September 30, 2022
	(In millions)
Homebuilding
Unsecured:
Revolving credit facility	$	—	$	—
4.75% senior notes due 2023 (1)	—		299.9
5.75% senior notes due 2023 (1)	400.0		399.6
2.5% senior notes due 2024 (1)	498.8		498.2
2.6% senior notes due 2025 (1)	497.8		497.1
1.3% senior notes due 2026 (1)	596.3		595.5
1.4% senior notes due 2027 (1)	496.3		495.7
Other secured notes	223.3		156.6
	2,712.5		2,942.6
Forestar
Unsecured:
Revolving credit facility	—		—
3.85% senior notes due 2026 (2)	397.2		396.5
5.0% senior notes due 2028 (2)	297.5		297.0
Other secured notes	12.5		12.5
	707.2		706.0
Financial Services
Mortgage repurchase facilities:
Committed facility	1,385.9		1,618.3
Uncommitted facility	299.7		—
	1,685.6		1,618.3
Rental
Unsecured:
Revolving credit facility	1,000.0		800.0
Total notes payable (3)	$	6,105.3	$	6,066.9

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(1)Debt issuance costs that were deducted from the carrying amounts of the homebuilding senior notes totaled $9.2 million and $12.2 million at June 30, 2023 and September 30, 2022, respectively.

(2)Debt issuance costs that were deducted from the carrying amount of Forestar’s senior notes totaled $5.3 million and $6.5 million at June 30, 2023 and September 30, 2022, respectively.

(3)The fair value of notes payable at June 30, 2023 totaled $5.9 billion, of which $3.0 billion were measured using Level 2 inputs and $2.9 billion were measured using Level 3 inputs. The fair value of notes payable at September 30, 2022 totaled $5.7 billion, of which $3.1 billion were measured using Level 2 inputs and $2.6 billion were measured using Level 3 inputs.