Notes Payable (Tables)

3 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

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

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

	December 31, 2023		September 30, 2023
	(In millions)
Homebuilding
Unsecured:
Revolving credit facility	$	—	$	—
2.5% senior notes due 2024 (1)	499.3		499.0
2.6% senior notes due 2025 (1)	498.3		498.0
1.3% senior notes due 2026 (1)	596.9		596.6
1.4% senior notes due 2027 (1)	496.7		496.5
Other secured notes	264.2		239.8
	2,355.4		2,329.9
Rental
Unsecured:
Revolving credit facility	950.0		400.0
Forestar
Unsecured:
Revolving credit facility	—		—
3.85% senior notes due 2026 (2)	397.7		397.4
5.0% senior notes due 2028 (2)	297.7		297.6
Other secured notes	9.9		—
	705.3		695.0
Financial Services
Mortgage repurchase facilities:
Committed facility	1,160.7		1,373.3
Uncommitted facility	119.0		296.3
	1,279.7		1,669.6
Total notes payable (3)	$	5,290.4	$	5,094.5

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(1)Debt issuance costs that were deducted from the carrying amounts of the homebuilding senior notes totaled $7.5 million and $8.4 million at December 31, 2023 and September 30, 2023, respectively.

(2)Debt issuance costs that were deducted from the carrying amount of Forestar’s senior notes totaled $4.6 million and $5.0 million at December 31, 2023 and September 30, 2023, respectively.

(3)The fair value of notes payable at December 31, 2023 totaled $5.1 billion, of which $2.6 billion were measured using Level 2 inputs and $2.5 billion were measured using Level 3 inputs. The fair value of notes payable at September 30, 2023 totaled $4.8 billion, of which $2.5 billion were measured using Level 2 inputs and $2.3 billion were measured using Level 3 inputs.