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Discontinued Operations
6 Months Ended
Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
We continually review each of our markets in order to refine our overall investment strategy and to optimize capital and resource allocations in an effort to enhance our financial position and to increase shareholder value. This review entails an evaluation of both external market factors and our position in each market and over time has resulted in the decision to discontinue certain of our homebuilding operations.
We have classified the results of operations of our discontinued operations separately in the accompanying unaudited consolidated statements of income for all periods presented. There were no material assets or liabilities related to these discontinued operations as of March 31, 2016 or September 30, 2015. Discontinued operations were not segregated in the unaudited consolidated statements of cash flows. Therefore, amounts for certain captions in the unaudited consolidated statements of cash flows will not agree with the respective data in the unaudited consolidated statements of income. The results of our discontinued operations in the unaudited consolidated statements of income for the periods presented were as follows:
 
Three Months Ended
 
Six Months Ended
 
March 31,
 
March 31,
(In thousands)
2016
 
2015
 
2016
 
2015
Total revenue
$

 
$
280

 
$

 
$
280

Home construction and land sales expenses (a)
(56
)
 
105

 
252

 
4,056

Gross profit (loss)
56

 
175

 
(252
)
 
(3,776
)
General and administrative expenses
(55
)
 
114

 
(53
)
 
418

Operating income (loss)
111

 
61

 
(199
)
 
(4,194
)
Other income, net

 
1

 

 
1

Income (loss) from discontinued operations before income taxes
111

 
62

 
(199
)
 
(4,193
)
Expense (benefit) from income taxes
33

 
(2
)
 
(77
)
 
(3
)
Income (loss) from discontinued operations, net of tax
$
78

 
$
64

 
$
(122
)
 
$
(4,190
)
(a) The six months ended March 31, 2015 included a $3.7 million expense related to the probable liability of a case regarding alleged past construction defects in our discontinued operations in Denver, Colorado.