v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES    
Net income $ 1,259.4 $ 1,671.0
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 55.8 48.7
Stock-based compensation expense 76.0 75.2
Deferred income taxes 53.1 93.1
Inventory and land option charges 43.4 46.6
Changes in operating assets and liabilities:    
(Increase) decrease in construction in progress and finished homes (884.3) 229.8
Decrease (increase) in residential land and lots – developed, under development, held for development and held for sale 194.9 (1,588.9)
Increase in rental properties (297.5) (216.0)
Increase in other assets (26.2) (122.9)
(Increase) decrease in mortgage loans held for sale (114.3) 22.5
Increase (decrease) in accounts payable, accrued expenses and other liabilities 81.2 (48.6)
Net cash provided by operating activities 441.5 210.5
INVESTING ACTIVITIES    
Expenditures for property and equipment (64.6) (47.6)
Payments related to business acquisitions, net of cash acquired (87.9) (53.1)
Other investing activities (7.9) 6.2
Net cash used in investing activities (160.4) (94.5)
FINANCING ACTIVITIES    
Proceeds from notes payable 1,395.0 2,222.0
Repayment of notes payable (891.8) (1,566.1)
Borrowings (repayment) on mortgage repurchase facilities, net 69.9 (86.4)
Proceeds from stock associated with certain employee benefit plans 8.9 8.5
Cash paid for shares withheld for taxes (54.4) (63.4)
Cash dividends paid (261.2) (254.0)
Repurchases of common stock (1,599.8) (2,407.9)
Net other financing activities (6.8) 5.4
Net cash used in financing activities (1,340.2) (2,141.9)
Net decrease in cash, cash equivalents and restricted cash (1,059.1) (2,025.9)
Cash, cash equivalents and restricted cash at beginning of period 3,033.3 4,544.0
Cash, cash equivalents and restricted cash at end of period 1,974.2 2,518.1
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:    
Stock issued under employee incentive plans $ 111.1 $ 143.5