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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Net income $ 3,269.7 $ 4,247.4
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 70.2 60.2
Stock-based compensation expense 80.6 79.4
Deferred income taxes 19.3 14.3
Inventory and land option charges 62.2 30.6
Changes in operating assets and liabilities:    
Decrease (increase) in construction in progress and finished homes 576.2 (3,063.9)
Increase in residential land and lots – developed, under development, held for development and held for sale (915.0) (1,005.1)
Increase in rental properties (777.3) (1,129.6)
Decrease (increase) in other assets 242.1 (777.3)
Increase in mortgage loans held for sale (28.4) (55.2)
(Decrease) increase in accounts payable, accrued expenses and other liabilities (338.5) 1,036.4
Cash provided by (used in) operating activities 2,261.1 (562.8)
INVESTING ACTIVITIES    
Expenditures for property and equipment (108.3) (108.0)
Payments related to business acquisitions, net of cash acquired (202.0) (271.5)
Other investing activities 1.8 6.6
Net cash used in investing activities (308.5) (372.9)
FINANCING ACTIVITIES    
Proceeds from notes payable 575.0 2,625.0
Repayment of notes payable (675.4) (2,051.2)
Borrowings (payments) on mortgage repurchase facility, net 67.3 (88.9)
Proceeds from stock associated with certain employee benefit plans 18.7 26.9
Cash paid for shares withheld for taxes (55.9) (61.8)
Cash dividends paid (256.9) (238.4)
Repurchases of common stock (759.6) (859.7)
Net proceeds from issuance of Forestar common stock 0.0 1.7
Net other financing activities (30.7) 29.2
Net cash used in financing activities (1,117.5) (617.2)
Net increase (decrease) in cash, cash equivalents and restricted cash 835.1 (1,552.9)
Cash, cash equivalents and restricted cash at beginning of period 2,572.9 3,237.2
Cash, cash equivalents and restricted cash at end of period 3,408.0 1,684.3
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:    
Notes payable issued for inventory 54.5 64.3
Stock issued under employee incentive plans 110.8 130.0
Repurchases of common stock not settled $ 0.0 $ 20.1