Discontinued Operations

6 Months Ended

Mar. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

We 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 condensed consolidated statements of operations for all periods presented. There were no material assets or liabilities related to our discontinued operations as of March 31, 2021 or September 30, 2020. Discontinued operations were not segregated in the condensed consolidated statements of cash flows. Therefore, amounts for certain captions in the condensed consolidated statements of cash flows will not agree with the respective data in the condensed consolidated statements of operations. The results of our discontinued operations in the condensed consolidated statements of operations for the periods presented were as follows:


	Three Months Ended				Six Months Ended
	March 31,				March 31,
in thousands	2021		2020		2021		2020
Total revenue	$	—	$	—	$	—	$	—
Home construction and land sales expenses	121		(16)		119		(15)

Gross (loss) profit	(121)		16		(119)		15

General and administrative expenses	26		16		78		90

Operating loss	(147)		—		(197)		(75)

Other expense, net	—		(1)		—		(1)
Loss from discontinued operations before income taxes	(147)		(1)		(197)		(76)
Benefit from income taxes	(32)		—		(43)		(17)
Loss from discontinued operations, net of tax	$	(115)	$	(1)	$	(154)	$	(59)