Property, Plant, and Equipment

12 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure

NOTE F – PROPERTY AND EQUIPMENT

The Company’s property and equipment balances and the related accumulated depreciation at September 30, 2023 and 2022 are summarized below.

	September 30,
	2023		2022
	(In millions)
Homebuilding
Buildings and improvements	$	414.6	$	349.6
Model home furniture	147.0		133.4
Office furniture and equipment	113.5		132.5
Land	39.1		35.5
Accumulated depreciation	(299.2)		(289.2)
Total homebuilding	415.0		361.8
Rental, net	2.4		2.0
Forestar, net	5.9		5.7
Financial services, net	4.1		4.3
Other businesses and eliminations, net	18.0		97.8
Property and equipment, net	$	445.4	$	471.6

Depreciation expense was $82.9 million, $72.0 million and $73.3 million in fiscal 2023, 2022 and 2021, respectively.