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Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
OPERATING ACTIVITIES      
Net income $ 1,618.6 $ 1,462.3 $ 1,038.4
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation and amortization 72.0 62.4 54.7
Amortization of discounts and fees 10.9 9.9 5.0
Stock-based compensation expense 73.2 55.8 59.2
Equity in earnings of unconsolidated entities (0.5) (2.8) 0.0
Distributions of earnings of unconsolidated entities 0.5 2.0 0.0
Excess income tax benefit from employee stock awards 0.0 0.0 (14.3)
Deferred income taxes 20.1 170.9 110.8
Inventory and land option charges 54.0 50.4 40.2
Gain on sale of assets (53.9) (18.8) 0.0
Changes in operating assets and liabilities:      
(Increase) decrease in construction in progress and finished homes 84.6 (482.8) (584.4)
(Increase) decrease in residential land and lots — developed, under development, held for development and held for sale (676.4) (573.8) (362.3)
(Increase) decrease in other assets (161.6) (110.6) (63.7)
(Increase) decrease in mortgage loans held for sale (275.6) (208.8) 67.6
Increase in accounts payable, accrued expenses and other liabilities 126.2 129.1 89.0
Net cash provided by (used in) operating activities 892.1 545.2 440.2
INVESTING ACTIVITIES      
Expenditures for property and equipment (127.2) (68.1) (102.7)
Proceeds from sale of assets 143.8 292.9 0.0
Expenditures related to rental properties (96.9) (70.2) (54.6)
Return of investment in unconsolidated entities 4.4 17.5 0.0
Net principal decrease (increase) of other mortgage loans and real estate owned (2.3) (1.2) 6.2
Proceeds from (purchases of) debt securities collateralized by residential real estate 0.0 7.3 (8.8)
Payments related to business acquisitions, net of cash acquired (315.8) (159.2) (4.1)
Net cash provided by (used in) investing activities (394.0) 19.0 (164.0)
FINANCING ACTIVITIES      
Proceeds from notes payable 2,528.2 2,163.5 835.0
Repayment of notes payable (2,686.1) (2,181.7) (1,192.3)
Advances (payments) on mortgage repurchase facility, net 251.2 217.7 (53.0)
Proceeds from stock associated with certain employee benefit plans 42.7 47.4 46.7
Excess income tax benefit from employee stock awards 0.0 0.0 14.3
Cash paid for shares withheld for taxes (19.7) (10.3) (5.1)
Cash dividends paid (223.4) (188.4) (149.6)
Repurchases of common stock (479.8) (127.5) (60.6)
Distributions to noncontrolling interests, net (3.9) (3.2) 0.0
Proceeds from Issuance of Common Stock 100.7 0.0 0.0
Net cash provided by (used in) financing activities (490.1) (82.5) (564.6)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 8.0 481.7 (288.4)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 1,514.0 1,506.0 1,024.3
Supplemental cash flow information:      
Income taxes paid (refunded), net 488.0 387.2 446.4
Supplemental disclosures of non-cash activities:      
Notes payable issued for inventory 83.6 0.0 4.5
Stock issued under employee incentive plans 49.6 64.0 31.9
Accrued expenditures for property and equipment 14.1 10.7 16.3
Accrual for holdback payment related to acquisition $ 10.1 $ 0.0 $ 0.0