Contingencies (Tables)

6 Months Ended

Mar. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Warranty reserves

Changes in our warranty reserves are as follows for the periods presented:

	Three Months Ended						Six Months Ended
	March 31,						March 31,
(In thousands)	2016			2015			2016			2015
Balance at beginning of period	$	28,913		$	27,227		$	27,681		$	16,084
Accruals for warranties issued (a)	3,086			1,630			5,701			3,155
Changes in liability related to warranties existing in prior periods (b)	20,053			6,524			30,653			20,754
Payments made (b)	(11,149		)	(6,587		)	(23,132		)	(11,199		)
Balance at end of period	$	40,903		$	28,794		$	40,903		$	28,794

^(a) Accruals for warranties issued are a function of the number of home closings in the period, the average selling prices of the homes closed and the rates of accrual per home estimated as a percentage of the selling price of the home. The increase in the amount of accrual in the current three and six-month periods compared to the comparable prior-year periods is due to an increase in the number of closings and the sales prices of homes closed in the current periods, as well as increases in certain divisions' accrual rates.

^(b) Changes in liability related to warranties existing and payments made in both periods are higher than historical trends due to charges and subsequent payments related to water intrusion issues in certain of our communities located in Florida (refer to separate discussion below).