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Investment in Unconsolidated Entities | 9 Months Ended
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Jun. 30, 2018
Equity Method Investments and Joint Ventures [Abstract] |
INVESTMENT IN UNCONSOLIDATED ENTITIES | INVESTMENT IN UNCONSOLIDATED ENTITIES At June 30, 2018, the Forestar segment owned interests in 6 entities that are accounted for under the equity method of accounting. The purpose of these entities is to acquire and develop residential, multi-family and mixed-use communities. At June 30, 2018, the Company’s investment in these unconsolidated entities was $32.2 million, which included a purchase accounting adjustment of $14.2 million. The aggregate outstanding debt of these entities was $45.6 million, of which $41.1 million is non-recourse to the Company. Summarized condensed financial information on a combined 100% basis related to the Company’s unconsolidated entities is as follows: Balance Sheet
|  | June 30, 2018
|  | (In millions)
Assets: |  |
Cash and cash equivalents |  | $ | 5.8 |
Real estate |  | 88.0 |
Other assets |  | 1.0 |
Total assets |  | $ | 94.8 |
Liabilities and Equity: |  |
Accounts payable and other liabilities |  | $ | 2.0 |
Debt |  | 45.6 |
Equity |  | 47.2 |
Total liabilities and equity |  | $ | 94.8 |
Statement of Operations
|  | Three Months Ended June 30, 2018 |  | Nine Months Ended June 30, 2018
|  | (In millions)
Revenues |  | $ | 2.8 |  |  | $ | 14.9 |
Net earnings of unconsolidated entities (1) |  | $ | 2.7 |  |  | $ | 24.4 |
D.R. Horton’s equity in earnings of unconsolidated entities (1) |  | $ | 0.4 |  |  | $ | 3.1 |
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(1) | Earnings in the nine month period included $19.0 million related to the gain on sale of a multi-family joint venture project in Nashville, Tennessee. D.R. Horton’s equity in earnings of unconsolidated entities of $0.4 million and $3.1 million in the three and nine months ended June 30, 2018, respectively, is after consideration of purchase accounting adjustments. Forestar’s equity in earnings of unconsolidated entities for the three months ended June 30, 2018 was $1.0 million and for the period from acquisition through June 30, 2018 was $10.1 million.

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- References No definition available. + Details
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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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