Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Schedule of fair value assets measured on a recurring and non-recurring basis

These balances represent only those assets whose carrying values were adjusted to fair value during the periods presented:

(In thousands)	Level 1		Level 2		Level 3			Total
Six Months Ended March 31, 2016
Deferred compensation plan assets (a)	$	—	$	804	$	—		$	804
Development projects in progress (b)	—		—		5,518		(c)	5,518
Land held for sale (b)	—		—		16,213		(d)	16,213
Six Months Ended March 31, 2015
Deferred compensation plan assets (a)	—		567		—			567

^(a) Measured at fair value on a recurring basis.

^(b) Measured at fair value on a non-recurring basis.

^(c) Amount includes the impairment-date fair value of the one community in our West segment that we impaired in the second quarter of our fiscal 2016. Refer to Note 5 for additional discussion.

^(d) Amount represents the impairment-date fair value of certain land held for sale assets that were impaired during the first quarter of our fiscal 2016.

Schedule of carrying values and estimated fair values of other financial assets and liabilities

The following table presents the carrying value and estimated fair value of certain of our other financial liabilities as of March 31, 2016 and September 30, 2015:

(In thousands)	As of March 31, 2016				As of September 30, 2015
	Carrying Amount (a)		Fair Value		Carrying Amount (a)		Fair Value
Senior Notes	$	1,246,309	$	1,130,957	$	1,427,240	$	1,412,173
Term Loan	137,987		137,987		—		—
Junior Subordinated Notes	58,837		58,837		57,803		57,803
	$	1,443,133	$	1,327,781	$	1,485,043	$	1,469,976

^(a) Carrying amounts are net of unamortized debt discounts or accretion.