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v3.25.2

Notes Payable (Tables) | 9 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Summary of notes payable at principal amounts, net of unamortized discounts | The Company’s notes payable at their carrying amounts consist of the following:
|  | June 30, 2025 |  | September 30, 2024
|  | (In millions)
Homebuilding |  |  |  |
Revolving credit facility |  | $ | — |  |  | $ | — |
2.5% senior notes due 2024 |  | — |  |  | 500.0 |
2.6% senior notes due 2025 (1) |  | 499.7 |  |  | 499.0 |
1.3% senior notes due 2026 (1) |  | 598.5 |  |  | 597.7 |
1.4% senior notes due 2027 (1) |  | 498.0 |  |  | 497.4 |
4.85% senior notes due 2030 (1) |  | 495.4 |  |  | — |
5.0% senior notes due 2034 (1) |  | 687.5 |  |  | 686.5 |
5.5% senior notes due 2035 (1) |  | 693.4 |  |  | — |
Other notes |  | 179.2 |  |  | 146.2 |
|  | 3,651.7 |  |  | 2,926.8 |
Rental |  |  |  |
Revolving credit facility |  | 1,020.0 |  |  | 745.0 |
Other notes |  | — |  |  | 5.7 |
|  | 1,020.0 |  |  | 750.7 |
Forestar |  |  |  |
Revolving credit facility |  | — |  |  | — |
3.85% senior notes due 2026 (2) |  | 70.4 |  |  | 398.4 |
5.0% senior notes due 2028 (2) |  | 298.5 |  |  | 298.1 |
6.5% senior notes due 2033 (2) |  | 494.0 |  |  | — |
Other notes |  | 9.9 |  |  | 9.9 |
|  | 872.8 |  |  | 706.4 |
Financial Services |  |  |  |
Mortgage repurchase facilities: |  |  |  |
Committed facility |  | 1,252.5 |  |  | 1,229.3 |
Uncommitted facility |  | 451.7 |  |  | 304.5 |
|  | 1,704.2 |  |  | 1,533.8 |
Total notes payable (3) |  | $ | 7,248.7 |  |  | $ | 5,917.7 |
_____________ (1)Debt issuance costs that were deducted from the carrying amounts of the homebuilding senior notes totaled $20.0 million and $11.7 million at June 30, 2025 and September 30, 2024, respectively. (2)Debt issuance costs that were deducted from the carrying amount of Forestar’s senior notes totaled $7.6 million and $3.5 million at June 30, 2025 and September 30, 2024, respectively. (3)The fair value of notes payable at June 30, 2025 totaled $7.2 billion, of which $4.3 billion were measured using Level 2 inputs and $2.9 billion were measured using Level 3 inputs. The fair value of notes payable at September 30, 2024 totaled $5.9 billion, of which $3.4 billion were measured using Level 2 inputs and $2.5 billion were measured using Level 3 inputs. The Level 2 inputs primarily relate to senior notes, and the Level 3 inputs primarily relate to the revolving credit and mortgage repurchase facilities and approximate carrying value due to their short-term nature and/or floating interest rate terms.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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