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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES    
Net income $ 955.7 $ 968.3
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 20.0 19.8
Stock-based compensation expense 40.9 22.9
Deferred income taxes 11.3 3.2
Inventory and land option charges 6.1 27.5
Changes in operating assets and liabilities:    
(Increase) decrease in construction in progress and finished homes (466.4) 320.7
Increase in residential land and lots – developed, under development, held for development and held for sale (937.8) (637.5)
Increase in rental properties (256.5) (357.0)
(Increase) decrease in other assets (130.0) 330.2
Decrease in mortgage loans held for sale 475.8 603.3
Increase (decrease) in accounts payable, accrued expenses and other liabilities 127.5 (472.3)
Net cash (used in) provided by operating activities (153.4) 829.1
INVESTING ACTIVITIES    
Expenditures for property and equipment (47.6) (47.5)
Proceeds from sale of assets 9.9 0.0
Payments related to business acquisitions, net of cash acquired (1.0) (97.1)
Other investing activities (0.6) 1.7
Net cash used in investing activities (39.3) (142.9)
FINANCING ACTIVITIES    
Proceeds from notes payable 720.0 300.0
Repayment of notes payable (170.0) (300.0)
Payments on mortgage repurchase facilities, net (389.9) (404.4)
Proceeds from stock associated with certain employee benefit plans 1.6 5.5
Cash paid for shares withheld for taxes (37.5) (25.7)
Cash dividends paid (99.9) (86.1)
Repurchases of common stock (376.9) (118.1)
Net other financing activities (10.2) (17.8)
Net cash used in financing activities (362.8) (646.6)
Net (decrease) increase in cash, cash equivalents and restricted cash (555.5) 39.6
Cash, cash equivalents and restricted cash at beginning of period 3,900.1 2,572.9
Cash, cash equivalents and restricted cash at end of period 3,344.6 2,612.5
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:    
Notes payable issued for inventory 21.9 31.2
Stock issued under employee incentive plans 66.5 46.9
Repurchases of common stock not settled $ 18.3 $ 0.0