Capitalized Interest (Tables)

9 Months Ended

Jun. 30, 2020

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, 2020 and 2019:

	Three Months Ended June 30,				Nine Months Ended June 30,
	2020		2019		2020		2019
	(In millions)
Capitalized interest, beginning of period	$	200.5	$	173.9	$	180.1	$	162.7
Interest incurred (1)	38.0		38.1		113.3		104.8
Interest charged to cost of sales	(32.8)		(34.3)		(87.7)		(89.8)
Capitalized interest, end of period	$	205.7	$	177.7	$	205.7	$	177.7

_______________

(1) Interest incurred included interest on the Company's mortgage repurchase facility of $4.3 million and $14.0 million in the three and nine months ended June 30, 2020, respectively, and $4.5 million and $10.8 million in the same periods of fiscal 2019. Also included in interest incurred is Forestar interest of $11.4 million and $29.8 million in the three and nine months ended June 30, 2020, respectively, and $7.9 million and $10.7 million in the same periods of fiscal 2019.