XML 62 R42.htm IDEA: XBRL DOCUMENT v3.24.3
Segment Information (Details) - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Assets      
Cash and cash equivalents $ 4,516.4 $ 3,873.6  
Restricted cash 27.6 26.5  
Inventories:      
Construction in progress and finished homes 8,875.8 9,001.4  
Residential land and lots — developed and under development 12,948.1 10,621.9  
Land held for development 160.6 50.0  
Land held for sale 12.7 8.7  
Rental properties 2,906.0 2,691.3  
Total inventories 24,903.2 22,373.3  
Mortgage loans held for sale 2,477.5 2,519.9  
Deferred income taxes, net 167.5 187.2  
Property and equipment, net 531.0 445.4  
Other Assets 3,317.6 2,993.0  
Goodwill 163.5 163.5  
Total assets 36,104.3 32,582.4  
Liabilities      
Accounts payable 1,345.5 1,246.2  
Accrued expenses and other liabilities 3,016.7 3,103.8  
Notes payable 5,917.7 5,094.5  
Total liabilities 10,279.9 9,444.5  
Revenues:      
Revenues 36,801.4 35,460.4 $ 33,480.0
Cost of sales:      
Inventory and land option charges 78.8 80.3 70.4
Cost of sales 27,266.0 26,110.0 22,975.9
Selling, general and administrative expense 3,599.5 3,248.8 2,933.7
Other (income) expense (348.8) (213.1) (59.3)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 6,284.7 6,314.7 7,629.7
Depreciation and amortization 87.1 91.6 81.4
Cash provided by (used in) operating activities 2,189.8 4,304.1 561.8
Home Building      
Assets      
Cash and cash equivalents 3,623.0 2,920.2  
Restricted cash 4.8 6.5  
Inventories:      
Construction in progress and finished homes 8,986.1 9,134.3  
Residential land and lots — developed and under development 11,011.7 8,992.3  
Land held for development 20.5 20.5  
Land held for sale 12.7 8.7  
Rental properties 0.0 0.0  
Total inventories 20,031.0 18,155.8  
Mortgage loans held for sale 0.0 0.0  
Deferred income taxes, net 211.6 229.8  
Property and equipment, net 500.2 415.0  
Other Assets 2,976.5 2,838.5  
Goodwill 134.3 134.3  
Total assets 27,481.4 24,700.1  
Liabilities      
Accounts payable 1,046.1 1,033.7  
Accrued expenses and other liabilities 2,552.0 2,585.5  
Notes payable 2,926.8 2,329.9  
Total liabilities 6,524.9 5,949.1  
Revenues:      
Revenues 33,961.8 31,743.2 31,923.1
Cost of sales:      
Inventory and land option charges 68.9 60.7 57.2
Cost of sales 26,061.0 24,315.8 22,811.9
Selling, general and administrative expense 2,553.3 2,239.9 2,186.7
Other (income) expense (107.6) (78.8) (16.4)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 5,455.1 5,266.3 6,940.9
Depreciation and amortization 79.4 64.0 62.5
Cash provided by (used in) operating activities 2,239.0 3,078.4 1,916.7
Rental      
Assets      
Cash and cash equivalents 157.6 136.1  
Restricted cash 2.2 3.3  
Inventories:      
Construction in progress and finished homes 0.0 0.0  
Residential land and lots — developed and under development 0.0 0.0  
Land held for development 0.0 0.0  
Land held for sale 0.0 0.0  
Rental properties 2,902.4 2,708.4  
Total inventories 2,902.4 2,708.4  
Mortgage loans held for sale 0.0 0.0  
Deferred income taxes, net (14.7) (19.9)  
Property and equipment, net 1.1 2.4  
Other Assets 74.5 29.8  
Goodwill 0.0 0.0  
Total assets 3,123.1 2,860.1  
Liabilities      
Accounts payable 474.2 698.6  
Accrued expenses and other liabilities 67.8 43.2  
Notes payable 750.7 400.0  
Total liabilities 1,292.7 1,141.8  
Revenues:      
Revenues 1,685.1 2,605.5 510.2
Cost of sales:      
Inventory and land option charges 5.8 6.7 0.8
Cost of sales 1,321.7 1,893.5 244.2
Selling, general and administrative expense 236.2 290.2 91.1
Other (income) expense (101.5) (102.4) (27.1)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 228.7 524.2 202.0
Depreciation and amortization 2.4 2.4 1.0
Cash provided by (used in) operating activities (231.0) 739.2 (1,391.0)
Forestar Group [Member]      
Assets      
Cash and cash equivalents 481.2 616.0  
Restricted cash 0.0 0.0  
Inventories:      
Construction in progress and finished homes 0.0 0.0  
Residential land and lots — developed and under development 2,126.1 1,760.8  
Land held for development 140.1 29.5  
Land held for sale 0.0 0.0  
Rental properties 0.0 0.0  
Total inventories 2,266.2 1,790.3  
Mortgage loans held for sale 0.0 0.0  
Deferred income taxes, net 0.0 0.0  
Property and equipment, net 7.1 5.9  
Other Assets 85.6 58.5  
Goodwill 0.0 0.0  
Total assets 2,840.1 2,470.7  
Liabilities      
Accounts payable 85.9 68.4  
Accrued expenses and other liabilities 452.8 337.4  
Notes payable 706.4 695.0  
Total liabilities 1,245.1 1,100.8  
Revenues:      
Revenues 1,509.4 1,436.9 1,519.1
Cost of sales:      
Inventory and land option charges 4.1 24.0 12.4
Cost of sales 1,150.0 1,132.9 1,195.1
Selling, general and administrative expense 118.5 97.7 93.6
Other (income) expense (29.2) (15.3) (5.4)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 270.1 221.6 235.8
Depreciation and amortization 3.0 3.0 2.7
Cash provided by (used in) operating activities (158.6) 364.1 108.7
Financial Services [Member]      
Assets      
Cash and cash equivalents 242.3 189.1  
Restricted cash 20.6 16.7  
Inventories:      
Construction in progress and finished homes 0.0 0.0  
Residential land and lots — developed and under development 0.0 0.0  
Land held for development 0.0 0.0  
Land held for sale 0.0 0.0  
Rental properties 0.0 0.0  
Total inventories 0.0 0.0  
Mortgage loans held for sale 2,477.5 2,519.9  
Deferred income taxes, net 0.0 0.0  
Property and equipment, net 4.0 4.1  
Other Assets 212.3 250.3  
Goodwill 0.0 0.0  
Total assets 2,956.7 2,980.1  
Liabilities      
Accounts payable 0.8 0.1  
Accrued expenses and other liabilities 234.6 280.4  
Notes payable 1,533.8 1,669.6  
Total liabilities 1,769.2 1,950.1  
Revenues:      
Revenues 882.5 801.5 795.0
Cost of sales:      
Inventory and land option charges 0.0 0.0 0.0
Cost of sales 0.0 0.0 0.0
Selling, general and administrative expense 672.4 594.9 547.6
Other (income) expense (101.1) (76.7) (43.2)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 311.2 283.3 290.6
Depreciation and amortization 1.8 2.1 1.9
Cash provided by (used in) operating activities 281.6 13.2 (10.5)
Eliminations and Other      
Assets      
Cash and cash equivalents 12.3 12.2  
Restricted cash 0.0 0.0  
Inventories:      
Construction in progress and finished homes (110.3) (132.9)  
Residential land and lots — developed and under development (189.7) (131.2)  
Land held for development 0.0 0.0  
Land held for sale 0.0 0.0  
Rental properties 3.6 (17.1)  
Total inventories (296.4) (281.2)  
Mortgage loans held for sale 0.0 0.0  
Deferred income taxes, net (29.4) (22.7)  
Property and equipment, net 18.6 18.0  
Other Assets (31.3) (184.1)  
Goodwill 29.2 29.2  
Total assets (297.0) (428.6)  
Liabilities      
Accounts payable (261.5) (554.6)  
Accrued expenses and other liabilities (290.5) (142.7)  
Notes payable 0.0 0.0  
Total liabilities (552.0) (697.3)  
Revenues:      
Revenues (1,237.4) (1,126.7) (1,267.4)
Cost of sales:      
Inventory and land option charges 0.0 (11.1) 0.0
Cost of sales (1,266.7) (1,232.2) (1,275.3)
Selling, general and administrative expense 19.1 26.1 14.7
Other (income) expense (9.4) 60.1 32.8
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 19.6 19.3 (39.6)
Depreciation and amortization 0.5 20.1 13.3
Cash provided by (used in) operating activities 58.8 109.2 (62.1)
Northwest | Home Building      
Inventories:      
Total inventories 1,935.2 1,907.5  
Goodwill 2.2 2.2  
Revenues:      
Revenues 2,761.7 2,582.4 2,658.4
Cost of sales:      
Inventory and land option charges 4.4 6.6 7.0
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 420.8 391.1 560.8
Southwest [Member] | Home Building      
Inventories:      
Total inventories 3,278.9 3,133.0  
Goodwill 0.0 0.0  
Revenues:      
Revenues 4,914.7 4,282.8 4,840.7
Cost of sales:      
Inventory and land option charges 12.7 11.3 6.3
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 703.5 489.3 968.3
South Central [Member] | Home Building      
Inventories:      
Total inventories 3,728.0 3,810.5  
Goodwill 15.9 15.9  
Revenues:      
Revenues 7,652.1 7,612.6 8,192.3
Cost of sales:      
Inventory and land option charges 11.4 7.6 9.9
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 1,331.4 1,388.3 1,910.7
Southeast [Member] | Home Building      
Inventories:      
Total inventories 4,284.5 3,958.5  
Goodwill 6.0 6.0  
Revenues:      
Revenues 8,876.8 8,760.8 7,951.2
Cost of sales:      
Inventory and land option charges 18.4 14.6 13.5
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 1,441.4 1,711.1 1,918.5
East [Member] | Home Building      
Inventories:      
Total inventories 3,978.2 3,024.7  
Goodwill 60.5 60.5  
Revenues:      
Revenues 6,073.1 5,325.3 5,318.1
Cost of sales:      
Inventory and land option charges 11.9 8.4 12.1
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 1,059.6 935.7 1,126.3
North | Home Building      
Inventories:      
Total inventories 2,551.2 2,078.0  
Goodwill 49.7 49.7  
Revenues:      
Revenues 3,683.4 3,179.3 2,962.4
Cost of sales:      
Inventory and land option charges 10.1 12.2 8.4
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 498.4 350.8 456.3
Corporate, Non-Segment [Member] | Home Building      
Inventories:      
Total inventories 275.0 243.6  
Home Building      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 33,903.6 31,641.0 31,861.7
Cost of sales:      
Cost of Goods and Services Sold 25,689.2 23,952.8 22,517.7
Home Building | Home Building      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 33,903.6 31,641.0 31,861.7
Cost of sales:      
Cost of Goods and Services Sold 25,952.1 24,201.3 22,715.6
Home Building | Rental      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Cost of sales:      
Cost of Goods and Services Sold 0.0 0.0 0.0
Home Building | Forestar Group [Member]      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Cost of sales:      
Cost of Goods and Services Sold 0.0 0.0 0.0
Home Building | Financial Services [Member]      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Cost of sales:      
Cost of Goods and Services Sold 0.0 0.0 0.0
Home Building | Eliminations and Other      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Cost of sales:      
Cost of Goods and Services Sold (262.9) (248.5) (197.9)
Land [Member]      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 330.2 412.4 313.1
Cost of sales:      
Cost of Goods and Services Sold 196.1 202.8 149.5
Land [Member] | Home Building      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 58.2 102.2 61.4
Cost of sales:      
Cost of Goods and Services Sold 40.0 53.8 39.1
Land [Member] | Rental      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Cost of sales:      
Cost of Goods and Services Sold 0.0 0.0 0.0
Land [Member] | Forestar Group [Member]      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 1,509.4 1,436.9 1,519.1
Cost of sales:      
Cost of Goods and Services Sold 1,145.9 1,108.9 1,182.7
Land [Member] | Financial Services [Member]      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Cost of sales:      
Cost of Goods and Services Sold 0.0 0.0 0.0
Land [Member] | Eliminations and Other      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax (1,237.4) (1,126.7) (1,267.4)
Cost of sales:      
Cost of Goods and Services Sold (989.8) (959.9) (1,072.3)
Rental      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 1,685.1 2,605.5 510.2
Cost of sales:      
Cost of Goods and Services Sold 1,301.9 1,874.1 238.3
Rental | Home Building      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Cost of sales:      
Cost of Goods and Services Sold 0.0 0.0 0.0
Rental | Rental      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 1,685.1 2,605.5 510.2
Cost of sales:      
Cost of Goods and Services Sold 1,315.9 1,886.8 243.4
Rental | Forestar Group [Member]      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Cost of sales:      
Cost of Goods and Services Sold 0.0 0.0 0.0
Rental | Financial Services [Member]      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Cost of sales:      
Cost of Goods and Services Sold 0.0 0.0 0.0
Rental | Eliminations and Other      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Cost of sales:      
Cost of Goods and Services Sold (14.0) (12.7) (5.1)
Financial Services [Member]      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 882.5 801.5 795.0
Financial Services [Member] | Home Building      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Financial Services [Member] | Rental      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Financial Services [Member] | Forestar Group [Member]      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 0.0 0.0 0.0
Financial Services [Member] | Financial Services [Member]      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax 882.5 801.5 795.0
Financial Services [Member] | Eliminations and Other      
Revenues:      
Revenue from Contract with Customer, Including Assessed Tax $ 0.0 $ 0.0 $ 0.0