XML 28 R13.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Property and Equipment (Notes)
 3 Months Ended
Dec. 31, 2019
Property and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block] PROPERTY AND EQUIPMENT

The Company’s property and equipment balances and the related accumulated depreciation at December 31, 2019 and September 30, 2019 are summarized below. These balances include properties related to the operations of DHI Communities, which develops, constructs and owns multi-family residential properties that produce rental income. DHI Communities has four projects under active construction and one project that was substantially complete at December 31, 2019.
 
December 31,
2019
 
September 30,
2019
 
(In millions)
Buildings and improvements (1) (2)
$
350.5

 
$
329.4

Multi-family rental properties under construction
64.8

 
65.2

Single-family rental properties
62.4

 
37.0

Model home furniture
130.3

 
128.3

Office furniture and equipment
124.5

 
128.6

Land (1) (2)
90.7

 
71.6

 Total property and equipment
$
823.2

 
$
760.1

Accumulated depreciation
(259.8
)
 
(260.9
)
 Property and equipment, net
$
563.4

 
$
499.2

_____________
(1)
At December 31, 2019, buildings and improvements included $74.9 million related to completed multi-family rental properties and $61.1 million related to the Company’s oil and gas related assets. Additionally, at December 31, 2019, land included $57.0 million related to the Company’s multi-family rental operations.
(2)
At September 30, 2019, buildings and improvements included $50.7 million related to completed multi-family rental properties and $56.9 million related to the Company’s oil and gas related assets. Additionally, at September 30, 2019, land included $38.0 million related to the Company’s multi-family rental operations.

Depreciation expense was $17.2 million and $15.9 million during the three months ended December 31, 2019 and 2018, respectively.