Property and Equipment

6 Months Ended

Mar. 31, 2021

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 March 31, 2021 and September 30, 2020 are summarized below.

	March 31, 2021		September 30, 2020
	(In millions)
Homebuilding
Buildings and improvements	$	275.0	$	267.4
Model home furniture	133.1		134.0
Office furniture and equipment	110.8		108.1
Land	33.1		32.3
Single-family rental operations
Single-family rental properties	158.7		68.1
Land	23.9		19.1
Total single-family rental operations	182.6		87.2
Accumulated depreciation	(271.4)		(256.2)
Total homebuilding	463.2		372.8
Other Businesses
Multi-family rental operations
Multi-family rental properties	248.9		173.8
Land	106.5		58.3
Total multi-family rental operations	355.4		232.1
Oil and gas related assets	71.1		69.7
Office furniture and equipment	16.8		15.6
Land	19.7		19.7
Accumulated depreciation	(30.6)		(28.2)
Total other businesses	432.4		308.9
Forestar, net	2.0		1.1
Financial services, net	3.5		3.9
Eliminations	(6.1)		(3.0)
Property and equipment, net	$	895.0	$	683.7

Depreciation expense was $17.0 million and $34.8 million during the three and six months ended March 31, 2021, respectively, compared to $17.3 million and $34.5 million in the same periods of fiscal 2020.