Capitalized Interest (Tables)

9 Months Ended

Jun. 30, 2019

Interest Costs Incurred [Abstract]

Rollforward of capitalized interest

The following table summarizes the Company’s interest costs incurred, capitalized and expensed during the three and nine months ended June 30, 2019 and 2018:

	Three Months Ended   June 30,						Nine Months Ended   June 30,
	2019			2018			2019			2018
	(In millions)
Capitalized interest, beginning of period	$	173.9		$	170.1		$	162.7		$	167.9
Interest incurred (1)	38.1			31.0			104.8			93.8
Interest charged to cost of sales	(34.3		)	(35.4		)	(89.8		)	(96.0		)
Capitalized interest, end of period	$	177.7		$	165.7		$	177.7		$	165.7

_______________

(1)

Interest incurred included interest on the Company's mortgage repurchase facility of $4.5 million and $10.8 million in the three and nine months ended June 30, 2019, respectively, and $3.4 million and $7.9 million in the same periods of fiscal 2018. Also included in interest incurred is Forestar interest of $7.9 million and $10.7 million in the three and nine months ended June 30, 2019, respectively, and $0.9 million and $2.3 million in the same periods of fiscal 2018.