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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES    
Net income $ 851.9 $ 955.7
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 24.1 20.0
Stock-based compensation expense 43.0 40.9
Deferred income taxes 40.1 11.3
Inventory and land option charges 16.6 6.1
Changes in operating assets and liabilities:    
Decrease (increase) in construction in progress and finished homes 181.7 (466.4)
Increase in residential land and lots – developed, under development, held for development and held for sale (1,243.5) (937.8)
Increase in rental properties (86.5) (256.5)
Decrease (increase) in other assets 65.2 (130.0)
Decrease in mortgage loans held for sale 683.1 475.8
Increase in accounts payable, accrued expenses and other liabilities 71.0 127.5
Net cash provided by (used in) operating activities 646.7 (153.4)
INVESTING ACTIVITIES    
Expenditures for property and equipment (13.3) (47.6)
Proceeds from sale of assets 0.0 9.9
Payments related to business acquisitions, net of cash acquired (51.0) (1.0)
Other investing activities 7.2 (0.6)
Net cash used in investing activities (57.1) (39.3)
FINANCING ACTIVITIES    
Proceeds from notes payable 660.0 720.0
Repayment of notes payable (755.4) (170.0)
Repayment on mortgage repurchase facilities, net (746.9) (389.9)
Proceeds from stock associated with certain employee benefit plans 0.0 1.6
Cash paid for shares withheld for taxes (27.6) (37.5)
Cash dividends paid (128.5) (99.9)
Repurchases of common stock (1,055.7) (376.9)
Net other financing activities (10.5) (10.2)
Net cash used in financing activities (2,064.6) (362.8)
Net decrease in cash, cash equivalents and restricted cash (1,475.0) (555.5)
Cash, cash equivalents and restricted cash at beginning of period 4,544.0 3,900.1
Cash, cash equivalents and restricted cash at end of period 3,069.0 3,344.6
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:    
Notes payable issued for inventory 0.0 21.9
Stock issued under employee incentive plans 71.3 66.5
Repurchases of common stock not settled $ 45.5 $ 18.3