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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING ACTIVITIES    
Net income $ 2,139.4 $ 1,917.9
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 41.1 46.5
Stock-based compensation expense 65.9 51.3
Deferred income taxes 19.9 28.7
Inventory and land option charges 19.6 51.4
Changes in operating assets and liabilities:    
(Increase) decrease in construction in progress and finished homes (709.1) 537.3
Increase in residential land and lots – developed, under development, held for development and held for sale (1,371.1) (668.7)
Increase in rental properties (386.9) (689.2)
Decrease in other assets 27.6 339.8
(Increase) decrease in mortgage loans held for sale (152.5) 262.0
Decrease in accounts payable, accrued expenses and other liabilities (164.0) (403.4)
Net cash (used in) provided by operating activities (470.1) 1,473.6
INVESTING ACTIVITIES    
Expenditures for property and equipment (71.3) (79.2)
Proceeds from sale of assets 9.9 0.0
Payments related to business acquisitions, net of cash acquired (1.0) (103.5)
Other investing activities (3.6) 2.1
Net cash used in investing activities (66.0) (180.6)
FINANCING ACTIVITIES    
Proceeds from notes payable 985.0 575.0
Repayment of notes payable (400.0) (650.0)
Borrowings (payments) on mortgage repurchase facilities, net 214.4 (63.4)
Proceeds from stock associated with certain employee benefit plans 12.2 12.9
Cash paid for shares withheld for taxes (81.6) (55.8)
Cash dividends paid (199.1) (171.7)
Repurchases of common stock (794.5) (419.8)
Net proceeds from issuance of Forestar common stock 19.7 0.0
Net other financing activities (26.7) (18.5)
Net cash used in financing activities (270.6) (791.3)
Net (decrease) increase in cash, cash equivalents and restricted cash (806.7) 501.7
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 3,093.4 3,074.6
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:    
Notes payable issued for inventory 18.9 31.2
Stock issued under employee incentive plans $ 151.3 $ 107.4