Segment Information (Tables)

12 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of segment reporting information

The following tables contain our revenue, operating income, and depreciation and amortization by segment for the periods presented:

	Fiscal Year Ended September 30,
in thousands	2024		2023		2022
Revenue
West	$	1,467,287	$	1,297,005	$	1,331,553
East	501,206		505,844		560,747
Southeast	361,704		403,936		424,688
Total revenue	$	2,330,197	$	2,206,785	$	2,316,988

	Fiscal Year Ended September 30,
in thousands	2024		2023		2022
Operating income
West	$	189,739	$	205,850	$	253,961
East	52,898		65,021		102,146
Southeast	45,666		57,326		68,726
Segment total	288,303		328,197		424,833
Corporate and unallocated(a)	(145,277)		(150,944)		(152,342)
Total operating income	$	143,026	$	177,253	$	272,491

(a) Includes amortization of capitalized interest, capitalization and amortization of indirect costs, impairment of capitalized interest and capitalized indirect costs, when applicable, expenses related to numerous shared services functions that benefit all segments but are not allocated to the operating segments reported above, including information technology, treasury, corporate finance, legal, branding and national marketing, and certain other amounts that are not allocated to our operating segments.

Below operating income, we recognized a gain on sale of investment of $8.6 million during the fiscal year ended September 30, 2024 within other income, net. We previously held a minority interest in a technology company specializing in digital marketing for new home communities, which was sold in March 2024. In exchange for the previously held investment, we received cash in escrow along with a minority partnership interest in the acquiring company, which was recorded within other assets in our consolidated balance sheets.

	Fiscal Year Ended September 30,
in thousands	2024		2023		2022
Depreciation and amortization
West	$	9,820	$	7,550	$	8,178
East	1,792		1,662		1,649
Southeast	1,478		1,655		1,843
Segment total	13,090		10,867		11,670
Corporate and unallocated(a)	1,777		1,331		1,690
Total depreciation and amortization	$	14,867	$	12,198	$	13,360

(a) Represents depreciation and amortization related to assets held by our corporate functions that benefit all segments.

The following table presents capital expenditures by segment for the periods presented:

	Fiscal Year Ended September 30,
in thousands	2024		2023		2022
Capital expenditures
West	$	11,956	$	9,909	$	7,755
East	2,559		2,578		1,208
Southeast	1,526		1,452		1,215
Corporate and unallocated	6,312		6,395		4,870
Total capital expenditures	$	22,353	$	20,334	$	15,048

The following table presents assets by segment as of September 30, 2024 and 2023:

in thousands	September 30, 2024		September 30, 2023
Assets
West	$	1,114,450	$	994,597
East	454,255		356,020
Southeast	389,058		320,430
Corporate and unallocated(a)	633,764		739,986
Total assets	$	2,591,527	$	2,411,033

(a) Primarily consists of cash and cash equivalents, restricted cash, deferred taxes, capitalized interest and indirect costs, and other items that are not allocated to the segments.