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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES    
Net income $ 795.2 $ 432.5
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 20.4 19.0
Amortization of discounts and fees 2.5 3.1
Stock-based compensation expense 21.7 16.6
Equity in earnings of unconsolidated entities (0.9) (0.5)
Deferred income taxes 2.9 7.2
Inventory and land option charges 8.3 3.8
Gain on sale of assets (14.0) (31.1)
Changes in operating assets and liabilities:    
Increase in construction in progress and finished homes (591.2) (334.8)
Increase in residential land and lots – developed, under development, held for development and held for sale (716.8) (373.1)
(Increase) decrease in other assets (124.9) 2.0
Net decrease in mortgage loans held for sale 90.1 46.9
Increase in accounts payable, accrued expenses and other liabilities 254.6 94.6
Net cash used in operating activities (252.1) (113.8)
INVESTING ACTIVITIES    
Expenditures for property and equipment (16.3) (21.6)
Proceeds from sale of assets 31.8 62.8
Expenditures related to rental properties 86.2 59.6
Return of investment in unconsolidated entities 2.1 1.9
Net principal decrease (increase) of other mortgage loans and real estate owned 0.2 (0.6)
Payments related to business acquisitions (23.0) (0.7)
Net cash (used in) provided by investing activities (91.4) (17.8)
FINANCING ACTIVITIES    
Proceeds from notes payable 494.1 495.7
Repayment of notes payable (400.1) 0.0
Payments on mortgage repurchase facility, net (163.5) (38.6)
Proceeds from stock associated with certain employee benefit plans 0.9 4.1
Cash paid for shares withheld for taxes (26.3) (17.3)
Cash dividends paid (72.9) (64.6)
Repurchases of common stock (53.8) (163.1)
Distributions to noncontrolling interests, net (0.1) (0.4)
Other financing activities 0.0 (2.3)
Net cash (used in) provided by financing activities (221.7) 213.5
Net (decrease) increase in cash, cash equivalents and restricted cash (565.2) 81.9
Cash, cash equivalents and restricted cash at beginning of period 3,040.1 1,514.0
Cash, cash equivalents and restricted cash at end of period 2,474.9 1,595.9
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:    
Notes payable issued for inventory 12.5 0.0
Stock issued under employee incentive plans 44.7 31.8
Accrued expenditures for property and equipment 21.8 7.7
Accrual for holdback payments related to acquisitions 2.6 9.5
Repurchase of common stock not settled $ 16.0 $ 0.0