Notes Payable (Tables)

6 Months Ended

Mar. 31, 2022

Summary of notes payable at principal amounts, net of unamortized discounts

The Company’s notes payable at their carrying amounts consist of the following:


	March 31, 2022		September 30, 2021
	(In millions)
Homebuilding
Unsecured:
Revolving credit facility	$	—	$	—
4.375% senior notes due 2022 (1)	349.8		349.6
4.75% senior notes due 2023 (1)	299.7		299.5
5.75% senior notes due 2023 (1)	399.3		399.1
2.5% senior notes due 2024 (1)	497.7		497.3
2.6% senior notes due 2025 (1)	496.7		496.2
1.3% senior notes due 2026 (1)	595.0		594.5
1.4% senior notes due 2027 (1)	495.3		494.9
Other secured notes (2)	152.3		82.2
	3,285.8		3,213.3
Forestar
Unsecured:
Revolving credit facility	—		—
3.85% senior notes due 2026 (3)	396.0		395.5
5.0% senior notes due 2028 (3)	296.8		296.5
Other secured notes	12.5		12.5
	705.3		704.5
Financial Services
Mortgage repurchase facility	1,578.9		1,494.6

Rental
Unsecured:
Revolving credit facility	—		—
Total (4)	$	5,570.0	$	5,412.4

____________________________

(1)Debt issuance costs that were deducted from the carrying amounts of the homebuilding senior notes totaled $14.3 million and $16.5 million at March 31, 2022 and September 30, 2021, respectively.

(2)Homebuilding other secured notes excludes $0.5 million and $0.7 million of earnest money notes payable to Forestar at March 31, 2022 and September 30, 2021, respectively. These intercompany notes are eliminated in consolidation.

(3)Debt issuance costs that were deducted from the carrying amount of Forestar’s senior notes totaled $7.2 million and $8.0 million at March 31, 2022 and September 30, 2021, respectively.

(4)The fair value of notes payable at March 31, 2022 totaled $5.4 billion, of which $3.7 billion was measured using Level 2 inputs and $1.7 billion was measured using Level 3 inputs. The fair value of notes payable at September 30, 2021 totaled $5.5 billion, of which $3.9 billion was measured using Level 2 inputs and $1.6 billion was measured using Level 3 inputs.