Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Schedule of estimated useful lives

Depreciation is computed on a straight-line basis based on estimated useful lives as follows:

Asset Class	Useful Lives
Buildings	25 - 30 years
Building improvements	Lesser of estimated useful life of the improvements or remaining useful life of the building
Information systems	Lesser of estimated useful life of the asset or 5 years
Furniture, fixtures and computer and office equipment	3 - 7 years
Model and sales office improvements	Lesser of estimated useful life of the asset or estimated life of the community
Leasehold improvements	Lesser of the lease term or the estimated useful life of the asset

The following table presents our property and equipment as of September 30, 2016 and September 30, 2015:

(In thousands)	September 30, 2016			September 30, 2015
Model furnishings and sales office improvements	$	28,036		$	25,111
Information systems	14,326			14,290
Furniture, fixtures and office equipment	12,247			11,864
Leasehold improvements	4,069			5,022
Buildings and improvements	—			2,329
Property and equipment, gross	58,678			58,616
Less: Accumulated Depreciation	(39,540		)	(36,386		)
Property and equipment, net	$	19,138		$	22,230

Schedule of New Accounting Pronouncements

The following table presents the changes to our consolidated balance sheet as of September 30, 2015 due to the adoption of ASU 2015-03:

(In thousands)	September 30, 2015
	As initially reported		Change for adoption			As re-casted
Consolidated Balance Sheets:
Other assets	$	18,994	$	(11,908	)	$	7,086
Total assets	2,421,203		(11,908		)	2,409,295
Total debt	1,528,275		(11,908		)	1,516,367
Total liabilities	1,790,780		(11,908		)	1,778,872
Total liabilities and stockholders’ equity	2,421,203		(11,908		)	2,409,295