EX-99.1 2 d577945dex991.htm EX-99.1

EX-99.1

Exhibit 99.1

Selected Financial Information of Forestar Group Inc.

Forestar Financial Information

as presented in the Segment Information tables

in D.R. Horton’s Q2 FY 2018 press release issued 4/26/18

		March 31, 2018
Assets
Cash and cash equivalents		$	436.4
Restricted cash			40.0
Residential land and lot inventories - developed and under development			261.7
Investment in unconsolidated entities			17.3
Deferred income taxes			1.4
Property and equipment, net			1.8
Other assets			22.5
		$	781.1
Liabilities
Accounts payable		$	2.1
Accrued expenses and other liabilities			59.2
Notes payable			109.8
		$	171.1

		For the three months ended March 31, 2018				For the Period from October 5, 2017 to March 31, 2018
Revenues		$	22.6			$	53.5
Cost of sales			16.2				35.5
Selling, general and administrative expense			5.6				19.1
Equity in earnings of unconsolidated entities			(1.5	)			(9.1	)
Gain on sale of assets			(2.7	)			(2.7	)
Interest expense			2.1				4.2
Other (income) expense			(1.7	)			(2.2	)
Income before income taxes		$	4.6			$	8.7
Summary Cash Flow Information:
Cash used in operating activities						$	(150.2	)