Discontinued Operations

12 Months Ended

Sep. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Discontinued OperationsWe 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 stockholder 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 consolidated statements of operations for all periods presented. There were no material assets or liabilities related to our discontinued operations as of September 30, 2022 or 2021. Discontinued operations were not segregated in the consolidated statements of cash flows. Therefore, amounts for certain captions in the consolidated statements of cash flows will not agree with the respective data in the consolidated statements of operations. The results of our discontinued operations in the consolidated statements of operations for the periods presented were as follows:


	Fiscal Year Ended September 30,
in thousands	2022		2021		2020

Home construction and land sales expenses(a)	$	(5)	$	119	$	1,245

Gross profit (loss)	5		(119)		(1,245)

General and administrative expenses	23		85		173

Operating loss	(18)		(204)		(1,418)

Other income, net	—		—		19
Loss from discontinued operations before income taxes	(18)		(204)		(1,399)
Benefit from income taxes	(4)		(45)		(309)
Loss from discontinued operations, net of tax	$	(14)	$	(159)	$	(1,090)

(a) Home construction and land sales expenses for the year ended September 30, 2020 include a $1.3 million estimated litigation settlement accrual relating to a case regarding past construction defects in our discontinued operations. Pursuant to the settlement agreement, the Company paid $1.4 million during fiscal 2021.