Capitalized Interest (Tables)

9 Months Ended

Jun. 30, 2023

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, 2023 and 2022:

	Three Months Ended June 30,				Nine Months Ended June 30,
	2023		2022		2023		2022
	(In millions)
Capitalized interest, beginning of period	$	271.7	$	223.3	$	237.4	$	217.7
Interest incurred (1)	57.4		40.0		154.2		113.6
Interest charged to cost of sales	(41.3)		(35.4)		(103.8)		(103.4)
Capitalized interest, end of period	$	287.8	$	227.9	$	287.8	$	227.9

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(1)    Interest incurred includes (a) interest on the Company's mortgage repurchase facility of $12.7 million and $30.5 million in the three and nine months ended June 30, 2023, respectively, and $4.0 million and $11.0 million in the same periods of fiscal 2022; (b) Forestar interest of $8.2 million and $24.6 million in the three and nine months ended June 30, 2023, respectively, and $8.1 million and $24.3 million in the same periods of fiscal 2022; and (c) interest on DRH Rental’s revolving credit facility of $19.3 million and $42.0 million in the three and nine months ended June 30, 2023, respectively.