XML 60 R41.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2018
Assets                      
Cash and cash equivalents $ 3,018.5       $ 1,494.3       $ 3,018.5 $ 1,494.3  
Restricted cash 21.6       19.7       21.6 19.7  
Inventories:                      
Construction in progress and finished homes 5,984.1       5,245.0       5,984.1 5,245.0  
Residential land and lots — developed and under development 6,171.8       5,939.4       6,171.8 5,939.4  
Land held for development 53.2       77.8       53.2 77.8  
Land held for sale 28.3       19.8       28.3 19.8  
Total inventories 12,237.4       11,282.0       12,237.4 11,282.0  
Mortgage loans held for sale 1,529.0       1,072.0       1,529.0 1,072.0  
Deferred income taxes, net 144.9       163.1       144.9 163.1  
Property and equipment, net 683.7       499.2       683.7 499.2  
Other Assets 1,113.7       912.8       1,113.7 912.8  
Goodwill 163.5       163.5       163.5 163.5  
Total assets 18,912.3       15,606.6       18,912.3 15,606.6  
Liabilities                      
Accounts payable 900.5       634.0       900.5 634.0  
Accrued expenses and other liabilities 1,607.0       1,278.1       1,607.0 1,278.1  
Notes payable (4,283.3)       (3,399.4)       (4,283.3) (3,399.4)  
Total liabilities 6,790.8       5,311.5       6,790.8 5,311.5  
Revenues:                      
Revenues 6,400.4 $ 5,390.0 $ 4,500.0 $ 4,020.7 5,038.9 $ 4,906.3 $ 4,128.7 $ 3,519.0 20,311.1 17,592.9 $ 16,068.0
Cost of sales:                      
Inventory and land option charges                 23.8 54.0 50.4
Cost of sales                 15,373.2 13,720.9 12,398.1
Selling, general and administrative expense                 2,047.8 1,832.5 1,676.8
Equity in earnings of unconsolidated entities                 (0.7) (0.5) (2.8)
Gain on sale of assets                 (59.5) (53.9) (18.8)
Interest Expense                     0.0
Other (income) expense                 (32.7) (31.4) (45.3)
Income before income taxes 1,056.1 $ 782.4 $ 621.3 $ 523.3 660.1 $ 626.7 $ 462.8 $ 375.7 2,983.0 2,125.3 2,060.0
Depreciation and amortization                 80.4 72.0 62.4
Cash provided by (used in) operating activities                 1,421.6 892.1 545.2
Segment Reconciling Items [Member]                      
Assets                      
Cash and cash equivalents 0.0       0.0       0.0 0.0  
Restricted cash 0.0       0.0       0.0 0.0  
Inventories:                      
Construction in progress and finished homes 0.0       0.0       0.0 0.0  
Residential land and lots — developed and under development 0.4       2.9       0.4 2.9  
Land held for development 0.0       0.0       0.0 0.0  
Land held for sale 0.0       0.0       0.0 0.0  
Total inventories 0.4       2.9       0.4 2.9  
Mortgage loans held for sale 0.0       0.0       0.0 0.0  
Deferred income taxes, net (5.8)       (5.8)       (5.8) (5.8)  
Property and equipment, net 0.0       0.0       0.0 0.0  
Other Assets 7.5       11.1       7.5 11.1  
Goodwill 29.2       29.2       29.2 29.2  
Total assets 31.3       37.4       31.3 37.4  
Liabilities                      
Accounts payable 0.0       0.0       0.0 0.0  
Accrued expenses and other liabilities (15.7)       (12.6)       (15.7) (12.6)  
Notes payable 0.0       (2.4)       0.0 (2.4)  
Total liabilities (15.7)       (10.2)       (15.7) (10.2)  
Revenues:                      
Revenues                 0.0 0.0 (1.2)
Cost of sales:                      
Inventory and land option charges                 0.0 0.0 0.6
Cost of sales                 0.1 18.5 17.0
Selling, general and administrative expense                 0.5 0.5 0.5
Equity in earnings of unconsolidated entities                 0.0 0.0 7.1
Gain on sale of assets                 0.0 3.0 24.7
Interest Expense                     0.0
Other (income) expense                 0.0 0.0 1.0
Income before income taxes                 (0.6) (22.0) (51.5)
Depreciation and amortization                 0.5 0.5 0.5
Cash provided by (used in) operating activities                 0.0 (4.4) (9.9)
Intersegment Eliminations [Member]                      
Assets                      
Cash and cash equivalents 0.0       0.0       0.0 0.0  
Restricted cash 0.0       0.0       0.0 0.0  
Inventories:                      
Construction in progress and finished homes (53.4)       (4.0)       (53.4) (4.0)  
Residential land and lots — developed and under development (34.3)       (31.4)       (34.3) (31.4)  
Land held for development 0.0       0.0       0.0 0.0  
Land held for sale 0.0       0.0       0.0 0.0  
Total inventories (87.7)       (35.4)       (87.7) (35.4)  
Mortgage loans held for sale 0.0       0.0       0.0 0.0  
Deferred income taxes, net 8.4       5.1       8.4 5.1  
Property and equipment, net (3.0)       0.0       (3.0) 0.0  
Other Assets (103.6)       (88.5)       (103.6) (88.5)  
Goodwill 0.0       0.0       0.0 0.0  
Total assets (185.9)       (118.8)       (185.9) (118.8)  
Liabilities                      
Accounts payable 0.0       0.0       0.0 0.0  
Accrued expenses and other liabilities (112.4)       (93.6)       (112.4) (93.6)  
Notes payable (4.8)       0.0       (4.8) 0.0  
Total liabilities (117.2)       (93.6)       (117.2) (93.6)  
Revenues:                      
Revenues                 (887.4) (326.6) (39.1)
Cost of sales:                      
Inventory and land option charges                 0.0 0.0 0.0
Cost of sales                 (827.6) (295.7) (31.3)
Selling, general and administrative expense                 0.0 0.0 0.0
Equity in earnings of unconsolidated entities                 0.0 0.0 2.5
Gain on sale of assets                 0.0 0.0 0.0
Interest Expense                     (5.8)
Other (income) expense                 0.0 0.0 0.0
Income before income taxes                 (59.8) (30.9) (4.5)
Depreciation and amortization                 0.0 0.0 0.0
Cash provided by (used in) operating activities                 (16.8) (2.5) (10.5)
Home Building [Member]                      
Assets                      
Cash and cash equivalents 2,551.1       1,043.0       2,551.1 1,043.0  
Restricted cash 9.5       8.0       9.5 8.0  
Inventories:                      
Construction in progress and finished homes 6,037.5       5,249.0       6,037.5 5,249.0  
Residential land and lots — developed and under development 4,901.4       4,956.1       4,901.4 4,956.1  
Land held for development 47.8       60.7       47.8 60.7  
Land held for sale 28.3       19.8       28.3 19.8  
Total inventories 11,015.0       10,285.6       11,015.0 10,285.6  
Mortgage loans held for sale 0.0       0.0       0.0 0.0  
Deferred income taxes, net 142.3       146.4       142.3 146.4  
Property and equipment, net 372.8       272.4       372.8 272.4  
Other Assets 996.4       826.2       996.4 826.2  
Goodwill 134.3       134.3       134.3 134.3  
Total assets 15,221.4       12,715.9       15,221.4 12,715.9  
Liabilities                      
Accounts payable 859.3       598.6       859.3 598.6  
Accrued expenses and other liabilities 1,438.3       1,152.5       1,438.3 1,152.5  
Notes payable (2,514.4)       (2,047.6)       (2,514.4) (2,047.6)  
Total liabilities 4,812.0       3,798.7       4,812.0 3,798.7  
Revenues:                      
Revenues                 19,643.9 17,016.9 15,623.8
Cost of sales:                      
Inventory and land option charges                 22.9 53.2 48.8
Cost of sales                 15,387.0 13,635.4 12,343.4
Selling, general and administrative expense                 1,603.6 1,482.3 1,346.2
Equity in earnings of unconsolidated entities                 0.0 0.0 0.0
Gain on sale of assets                 0.0 (2.0) (15.8)
Interest Expense                     0.0
Other (income) expense                 (11.7) (9.5) (7.2)
Income before income taxes                 2,665.0 1,910.7 1,957.2
Depreciation and amortization                 68.2 63.7 53.4
Cash provided by (used in) operating activities                 1,904.2 1,438.0 1,001.7
Forestar Group [Member]                      
Assets                      
Cash and cash equivalents 394.3       382.8       394.3 382.8  
Restricted cash 0.0       0.0       0.0 0.0  
Inventories:                      
Construction in progress and finished homes 0.0       0.0       0.0 0.0  
Residential land and lots — developed and under development 1,304.3       1,011.8       1,304.3 1,011.8  
Land held for development 5.4       17.1       5.4 17.1  
Land held for sale 0.0       0.0       0.0 0.0  
Total inventories 1,309.7       1,028.9       1,309.7 1,028.9  
Mortgage loans held for sale 0.0       0.0       0.0 0.0  
Deferred income taxes, net 0.0       17.4       0.0 17.4  
Property and equipment, net 1.1       2.4       1.1 2.4  
Other Assets 34.8       24.2       34.8 24.2  
Goodwill 0.0       0.0       0.0 0.0  
Total assets 1,739.9       1,455.7       1,739.9 1,455.7  
Liabilities                      
Accounts payable 29.2       16.8       29.2 16.8  
Accrued expenses and other liabilities 197.8       169.5       197.8 169.5  
Notes payable (641.1)       (460.5)       (641.1) (460.5)  
Total liabilities 868.1       646.8       868.1 646.8  
Revenues:                      
Revenues                 931.8 428.3 109.2
Cost of sales:                      
Inventory and land option charges                 0.9 0.8 1.0
Cost of sales                 813.7 362.7 69.0
Selling, general and administrative expense                 45.7 28.9 32.8
Equity in earnings of unconsolidated entities                 (0.7) (0.5) (12.4)
Gain on sale of assets                 (0.1) (3.0) (27.7)
Interest Expense                     5.8
Other (income) expense                 (4.9) (5.5) (7.0)
Income before income taxes                 78.1 45.7 48.7
Depreciation and amortization                 0.3 0.2 0.3
Cash provided by (used in) operating activities                 (168.5) (391.3) (320.3)
Financial Services [Member]                      
Assets                      
Cash and cash equivalents 55.6       43.4       55.6 43.4  
Restricted cash 11.9       11.6       11.9 11.6  
Inventories:                      
Construction in progress and finished homes 0.0       0.0       0.0 0.0  
Residential land and lots — developed and under development 0.0       0.0       0.0 0.0  
Land held for development 0.0       0.0       0.0 0.0  
Land held for sale 0.0       0.0       0.0 0.0  
Total inventories 0.0       0.0       0.0 0.0  
Mortgage loans held for sale 1,529.0       1,072.0       1,529.0 1,072.0  
Deferred income taxes, net 0.0       0.0       0.0 0.0  
Property and equipment, net 3.9       3.2       3.9 3.2  
Other Assets 125.8       68.3       125.8 68.3  
Goodwill 0.0       0.0       0.0 0.0  
Total assets 1,726.2       1,198.5       1,726.2 1,198.5  
Liabilities                      
Accounts payable 0.0       7.0       0.0 7.0  
Accrued expenses and other liabilities 86.8       53.0       86.8 53.0  
Notes payable (1,132.6)       (888.9)       (1,132.6) (888.9)  
Total liabilities 1,219.4       948.9       1,219.4 948.9  
Revenues:                      
Revenues                 584.9 441.7 375.3
Cost of sales:                      
Inventory and land option charges                 0.0 0.0 0.0
Cost of sales                 0.0 0.0 0.0
Selling, general and administrative expense                 364.7 293.0 272.6
Equity in earnings of unconsolidated entities                 0.0 0.0 0.0
Gain on sale of assets                 0.0 0.0 0.0
Interest Expense                     0.0
Other (income) expense                 (25.0) (17.6) (15.1)
Income before income taxes                 245.2 166.3 117.8
Depreciation and amortization                 1.6 1.5 1.4
Cash provided by (used in) operating activities                 (292.8) (150.2) (116.6)
Other Segments [Member]                      
Assets                      
Cash and cash equivalents 17.5       25.1       17.5 25.1  
Restricted cash 0.2       0.1       0.2 0.1  
Inventories:                      
Construction in progress and finished homes 0.0       0.0       0.0 0.0  
Residential land and lots — developed and under development 0.0       0.0       0.0 0.0  
Land held for development 0.0       0.0       0.0 0.0  
Land held for sale 0.0       0.0       0.0 0.0  
Total inventories 0.0       0.0       0.0 0.0  
Mortgage loans held for sale 0.0       0.0       0.0 0.0  
Deferred income taxes, net 0.0       0.0       0.0 0.0  
Property and equipment, net 308.9       221.2       308.9 221.2  
Other Assets 52.8       71.5       52.8 71.5  
Goodwill 0.0       0.0       0.0 0.0  
Total assets 379.4       317.9       379.4 317.9  
Liabilities                      
Accounts payable 12.0       11.6       12.0 11.6  
Accrued expenses and other liabilities 12.2       9.3       12.2 9.3  
Notes payable 0.0       0.0       0.0 0.0  
Total liabilities 24.2       20.9       24.2 20.9  
Revenues:                      
Revenues                 37.9 32.6 0.0
Cost of sales:                      
Inventory and land option charges                 0.0 0.0 0.0
Cost of sales                 0.0 0.0 0.0
Selling, general and administrative expense                 33.3 27.8 24.7
Equity in earnings of unconsolidated entities                 0.0 0.0 0.0
Gain on sale of assets                 (59.4) (51.9) 0.0
Interest Expense                     0.0
Other (income) expense                 8.9 1.2 (17.0)
Income before income taxes                 55.1 55.5 (7.7)
Depreciation and amortization                 9.8 6.1 6.8
Cash provided by (used in) operating activities                 (4.5) 2.5 0.8
East [Member] | Home Building [Member]                      
Inventories:                      
Total inventories 1,328.3       1,288.8       1,328.3 1,288.8  
Goodwill 26.4       26.4       26.4 26.4  
Revenues:                      
Revenues                 2,642.3 2,290.2 1,893.4
Cost of sales:                      
Inventory and land option charges                 1.8 2.7 2.3
Income before income taxes                 357.0 238.8 217.3
Midwest [Member] | Home Building [Member]                      
Inventories:                      
Total inventories 958.5       836.8       958.5 836.8  
Goodwill 49.7       49.7       49.7 49.7  
Revenues:                      
Revenues                 1,429.0 1,123.1 858.9
Cost of sales:                      
Inventory and land option charges                 2.2 3.5 5.1
Income before income taxes                 128.8 57.7 77.5
Southeast [Member] | Home Building [Member]                      
Inventories:                      
Total inventories 2,919.9       2,768.0       2,919.9 2,768.0  
Goodwill 40.1       40.1       40.1 40.1  
Revenues:                      
Revenues                 5,845.2 4,977.8 4,578.6
Cost of sales:                      
Inventory and land option charges                 7.8 10.7 28.8
Income before income taxes                 841.0 584.7 536.0
South Central [Member] | Home Building [Member]                      
Inventories:                      
Total inventories 2,879.9       2,533.2       2,879.9 2,533.2  
Goodwill 15.9       15.9       15.9 15.9  
Revenues:                      
Revenues                 4,998.1 4,202.4 3,769.9
Cost of sales:                      
Inventory and land option charges                 6.7 11.6 4.6
Income before income taxes                 758.0 551.1 506.1
Southwest [Member] | Home Building [Member]                      
Inventories:                      
Total inventories 695.8       574.4       695.8 574.4  
Goodwill 0.0       0.0       0.0 0.0  
Revenues:                      
Revenues                 881.6 772.6 768.7
Cost of sales:                      
Inventory and land option charges                 0.1 0.5 0.9
Income before income taxes                 136.9 100.4 97.4
West [Member] | Home Building [Member]                      
Inventories:                      
Total inventories 2,009.1       2,056.0       2,009.1 2,056.0  
Goodwill 2.2       2.2       2.2 2.2  
Revenues:                      
Revenues                 3,847.7 3,650.8 3,754.3
Cost of sales:                      
Inventory and land option charges                 4.3 24.2 7.1
Income before income taxes                 443.3 378.0 522.9
Corporate, Non-Segment [Member] | Home Building [Member]                      
Inventories:                      
Total inventories $ 223.5       $ 228.4       223.5 228.4  
Home Building [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 19,560.8 16,925.0 15,502.0
Cost of sales:                      
Cost of Goods and Services Sold                 15,247.2 13,498.8 12,194.3
Home Building [Member] | Segment Reconciling Items [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 0.0
Cost of sales:                      
Cost of Goods and Services Sold                 0.0 0.0 0.0
Home Building [Member] | Intersegment Eliminations [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 0.0
Cost of sales:                      
Cost of Goods and Services Sold                 (58.6) (8.3) (1.2)
Home Building [Member] | Home Building [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 19,560.8 16,925.0 15,502.0
Cost of sales:                      
Cost of Goods and Services Sold                 15,305.8 13,507.1 12,195.5
Home Building [Member] | Forestar Group [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 0.0
Cost of sales:                      
Cost of Goods and Services Sold                 0.0 0.0 0.0
Home Building [Member] | Financial Services [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 0.0
Cost of sales:                      
Cost of Goods and Services Sold                 0.0 0.0 0.0
Home Building [Member] | Other Segments [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 0.0
Cost of sales:                      
Cost of Goods and Services Sold                 0.0 0.0 0.0
Land [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 165.4 226.2 190.7
Cost of sales:                      
Cost of Goods and Services Sold                 102.2 168.1 153.4
Land [Member] | Segment Reconciling Items [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 (1.2)
Cost of sales:                      
Cost of Goods and Services Sold                 0.1 18.5 16.4
Land [Member] | Intersegment Eliminations [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 (887.4) (326.6) (39.1)
Cost of sales:                      
Cost of Goods and Services Sold                 (769.0) (287.4) (30.1)
Land [Member] | Home Building [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 83.1 91.9 121.8
Cost of sales:                      
Cost of Goods and Services Sold                 58.3 75.1 99.1
Land [Member] | Forestar Group [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 931.8 428.3 109.2
Cost of sales:                      
Cost of Goods and Services Sold                 812.8 361.9 68.0
Land [Member] | Financial Services [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 0.0
Cost of sales:                      
Cost of Goods and Services Sold                 0.0 0.0 0.0
Land [Member] | Other Segments [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 37.9 32.6 0.0
Cost of sales:                      
Cost of Goods and Services Sold                 0.0 0.0 0.0
Financial Service [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 584.9 441.7 375.3
Financial Service [Member] | Segment Reconciling Items [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 0.0
Financial Service [Member] | Intersegment Eliminations [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 0.0
Financial Service [Member] | Home Building [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 0.0
Financial Service [Member] | Forestar Group [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 0.0 0.0 0.0
Financial Service [Member] | Financial Services [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 584.9 441.7 375.3
Financial Service [Member] | Other Segments [Member]                      
Revenues:                      
Revenue from Contract with Customer, Including Assessed Tax                 $ 0.0 $ 0.0 $ 0.0