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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES    
Net income $ 50.5 $ 27.1
Adjustments:    
Depreciation and amortization 1.5 3.4
Deferred income taxes 2.2 9.4
Equity in earnings of unconsolidated ventures (0.3) (0.8)
Stock-based compensation expense 1.2 1.3
Land option charges 0.9 0.4
Gain on sale of assets 0.0 (0.1)
Changes in operating assets and liabilities:    
Increase in real estate (377.3) (170.7)
Decrease in income taxes receivable 6.3 0.7
Increase in other assets (6.5) (4.5)
Increase (decrease) in accounts payable and other accrued liabilities 29.2 (1.0)
Increase in earnest money on sales contracts 42.8 11.0
Net cash used in operating activities (249.5) (123.8)
INVESTING ACTIVITIES    
Expenditures for property, equipment and other (0.2) (0.2)
Return of investment in unconsolidated ventures 2.2 2.4
Proceeds from sale of assets 0.0 1.3
Net cash provided by investing activities 2.0 3.5
FINANCING ACTIVITIES    
Proceeds from debt 0.0 300.0
Repayments of debt 0.0 (118.9)
Deferred financing fees 0.0 (4.8)
Issuance of common stock 23.3 0.0
Purchase of noncontrolling interest (2.4) 0.0
Distributions to noncontrolling interests, net (0.1) (0.4)
Cash paid for shares withheld for taxes (0.4) (0.2)
Net cash provided by financing activities 20.4 175.7
Net (decrease) increase in cash and cash equivalents (227.1) 55.4
Cash and Cash Equivalents, at Carrying Value 167.2 438.2
Note payable issued for real estate $ 12.5 $ 0.0