Notes Payable (Tables)

6 Months Ended

Mar. 31, 2024

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:

	March 31, 2024		September 30, 2023
	(In millions)
Homebuilding
Unsecured:
Revolving credit facility	$	—	$	—
2.5% senior notes due 2024 (1)	499.5		499.0
2.6% senior notes due 2025 (1)	498.5		498.0
1.3% senior notes due 2026 (1)	597.1		596.6
1.4% senior notes due 2027 (1)	496.9		496.5
Other secured notes	271.2		239.8
	2,363.2		2,329.9
Rental
Unsecured:
Revolving credit facility	985.0		400.0
Forestar
Unsecured:
Revolving credit facility	—		—
3.85% senior notes due 2026 (2)	397.9		397.4
5.0% senior notes due 2028 (2)	297.9		297.6
Other secured notes	9.9		—
	705.7		695.0
Financial Services
Mortgage repurchase facilities:
Committed facility	1,390.3		1,373.3
Uncommitted facility	493.7		296.3
	1,884.0		1,669.6
Total notes payable (3)	$	5,937.9	$	5,094.5

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(1)Debt issuance costs that were deducted from the carrying amounts of the homebuilding senior notes totaled $6.7 million and $8.4 million at March 31, 2024 and September 30, 2023, respectively.

(2)Debt issuance costs that were deducted from the carrying amount of Forestar’s senior notes totaled $4.2 million and $5.0 million at March 31, 2024 and September 30, 2023, respectively.

(3)The fair value of notes payable at March 31, 2024 totaled $5.8 billion, of which $2.6 billion were measured using Level 2 inputs and $3.2 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.