Property, Plant, and Equipment

12 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure

PROPERTY AND EQUIPMENT

The Company’s property and equipment balances and the related accumulated depreciation at September 30, 2024 and 2023 are summarized below.

	September 30,
	2024		2023
	(In millions)
Homebuilding
Buildings and improvements	$	483.2	$	414.6
Model home furniture	171.2		147.0
Office furniture and equipment	111.1		113.5
Land	57.7		39.1
Accumulated depreciation	(323.0)		(299.2)
Total homebuilding	500.2		415.0
Rental, net	1.1		2.4
Forestar, net	7.1		5.9
Financial services, net	4.0		4.1
Other businesses and eliminations, net	18.6		18.0
Property and equipment, net	$	531.0	$	445.4

Depreciation expense was $78.5 million, $82.9 million and $72.0 million in fiscal 2024, 2023 and 2022, respectively.