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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES      
Net income $ 4,806.0 $ 4,795.2 $ 5,895.6
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation and amortization 87.1 91.6 81.4
Stock-based compensation expense 118.1 111.2 105.1
Deferred income taxes 19.0 (45.9) 29.1
Inventory and land option charges 78.8 80.3 70.4
Changes in operating assets and liabilities:      
Decrease (increase) in construction in progress and finished homes 141.3 861.8 (2,059.0)
Increase in residential land and lots — developed, under development, held for development and held for sale (2,576.5) (1,226.4) (1,402.8)
Increase in rental properties (214.6) (151.8) (1,723.2)
(Increase) decrease in other assets (331.4) 23.8 (1,111.5)
Decrease (increase) in mortgage loans held for sale 42.4 (133.9) (358.8)
Increase (decrease) in accounts payable, accrued expenses and other liabilities 19.6 (101.8) 1,035.5
Net cash provided by operating activities 2,189.8 4,304.1 561.8
INVESTING ACTIVITIES      
Expenditures for property and equipment (165.3) (148.6) (148.2)
Proceeds from sale of assets 19.4 52.0 0.0
Payments related to business acquisitions, net of cash acquired (40.4) (212.9) (271.5)
Other investing activities (4.3) (0.7) 4.8
Net cash used in investing activities (190.6) (310.2) (414.9)
FINANCING ACTIVITIES      
Proceeds from notes payable 2,086.3 711.0 4,250.0
Repayment of notes payable (1,055.8) (1,823.9) (3,801.2)
(Repayment) borrowings on mortgage repurchase facilities, net (135.8) 51.3 123.7
Proceeds from stock associated with certain employee benefit plans 20.6 25.5 33.2
Cash paid for shares withheld for taxes (83.9) (56.1) (62.0)
Cash dividends paid (395.2) (341.2) (316.5)
Repurchases of common stock (1,787.5) (1,178.5) (1,131.5)
Net proceeds from issuance of Forestar common stock 19.7 0.0 1.7
Net other financing activities (23.7) (54.8) 91.4
Net cash used in financing activities (1,355.3) (2,666.7) (811.2)
Net increase (decrease) in cash, cash equivalents and restricted cash 643.9 1,327.2 (664.3)
Total cash, cash equivalents and restricted cash 4,544.0 3,900.1 2,572.9
Supplemental cash flow information:      
Income taxes paid, net 1,669.7 1,442.0 1,701.1
Supplemental disclosures of non-cash activities:      
Notes payable issued for inventory 43.4 54.5 64.3
Reduction of notes payable upon deconsolidation of variable interest entity (127.8) 0.0 0.0
Stock issued under employee incentive plans $ 174.3 $ 111.4 $ 130.9