Capitalized Interest (Tables)

6 Months Ended

Mar. 31, 2024

Interest Costs Incurred [Abstract]

Rollforward of capitalized interest

The following table summarizes the Company’s interest costs incurred, capitalized and expensed during the three and six months ended March 31, 2024 and 2023:

	Three Months Ended March 31,				Six Months Ended March 31,
	2024		2023		2024		2023
	(In millions)
Capitalized interest, beginning of period	$	301.0	$	255.1	$	286.4	$	237.4
Interest incurred (1)	50.5		50.6		93.1		96.8
Interest charged to cost of sales	(32.8)		(34.0)		(60.8)		(62.5)
Capitalized interest, end of period	$	318.7	$	271.7	$	318.7	$	271.7

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(1)    Interest incurred includes (a) interest on the Company's mortgage repurchase facilities of $13.4 million and $28.3 million in the three and six months ended March 31, 2024, respectively, and $9.7 million and $17.8 million in the prior year periods; (b) Forestar interest of $8.2 million and $16.3 million in the three and six months ended March 31, 2024, respectively, and $8.2 million and $16.4 million in the prior year periods; and (c) interest on the rental revolving credit facility of $17.6 million and $25.8 million in the three and six months ended March 31, 2024, respectively, and $13.7 million and $22.7 million in the prior year periods.