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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES      
Net income $ 4,795.2 $ 5,895.6 $ 4,191.2
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation and amortization 91.6 81.4 82.1
Stock-based compensation expense 111.2 105.1 91.4
Deferred income taxes (45.9) 29.1 (10.0)
Inventory and land option charges 80.3 70.4 28.6
Gain on sale of assets 0.0 0.0 (14.0)
Loss on extinguishment of debt 0.0 0.0 18.1
Changes in operating assets and liabilities:      
Decrease (increase) in construction in progress and finished homes 861.8 (2,059.0) (1,734.9)
Increase in residential land and lots — developed, under development, held for development and held for sale (1,226.4) (1,402.8) (1,720.6)
Increase in rental properties (151.8) (1,723.2) (303.6)
Decrease (increase) in other assets 23.8 (1,111.5) (440.7)
Increase in mortgage loans held for sale (133.9) (358.8) (498.3)
(Decrease) increase in accounts payable, accrued expenses and other liabilities (101.8) 1,035.5 845.1
Net cash provided by operating activities 4,304.1 561.8 534.4
INVESTING ACTIVITIES      
Expenditures for property and equipment (148.6) (148.2) (93.5)
Proceeds from sale of assets 52.0 0.0 37.6
Expenditures related to rental properties 0.0 0.0 (173.9)
Payments related to business acquisitions, net of cash acquired (212.9) (271.5) (24.5)
Other investing activities (0.7) 4.8 2.1
Net cash used in investing activities (310.2) (414.9) (252.2)
FINANCING ACTIVITIES      
Proceeds from notes payable 711.0 4,250.0 1,541.6
Repayment of notes payable (1,823.9) (3,801.2) (826.3)
Borrowings on mortgage repurchase facility, net 51.3 123.7 362.0
Proceeds from stock associated with certain employee benefit plans 25.5 33.2 22.7
Cash paid for shares withheld for taxes (56.1) (62.0) (78.5)
Cash dividends paid (341.2) (316.5) (289.3)
Repurchases of common stock (1,178.5) (1,131.5) (848.4)
Net proceeds from issuance of Forestar common stock 0.0 1.7 33.5
Net other financing activities (54.8) 91.4 (2.4)
Net cash used in financing activities (2,666.7) (811.2) (85.1)
Net increase (decrease) in cash, cash equivalents and restricted cash 1,327.2 (664.3) 197.1
Total cash, cash equivalents and restricted cash 3,900.1 2,572.9 3,237.2
Supplemental cash flow information:      
Income taxes paid, net 1,442.0 1,701.1 1,137.8
Supplemental disclosures of non-cash activities:      
Notes payable issued for inventory 54.5 64.3 12.5
Stock issued under employee incentive plans 111.4 130.9 124.7
Repurchases of common stock not settled $ 0.0 $ 0.0 $ 25.6