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10-Q Filing

FORESTAR GROUP INC. CIK: 1406587 Q1 2015
Filing Information
Form Type 10-Q
Accession Number 0001406587-15-000029
Period End Date 20150331
Filing Date 20150508
Fiscal Year 2015
Fiscal Period Q1
XBRL Instance for-20150331.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $126.26M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $147.98M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $170.13M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 200.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $192.31M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 200.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 36.95M shares Point-in-time
Real estate, net InventoryRealEstateLandAndLandDevelopmentCosts $575.76M USD Point-in-time
Real estate, net InventoryRealEstateLandAndLandDevelopmentCosts $596.28M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 36.95M shares Point-in-time
Treasury stock, common shares TreasuryStockShares 3.49M shares Point-in-time
Treasury stock, common shares TreasuryStockShares 3.33M shares Point-in-time
Oil and gas properties and equipment, net OilAndGasPropertySuccessfulEffortMethodNet $279.95M USD Point-in-time
Oil and gas properties and equipment, net OilAndGasPropertySuccessfulEffortMethodNet $263.49M USD Point-in-time
Investment in unconsolidated ventures EquityMethodInvestments $65.38M USD Point-in-time
Investment in unconsolidated ventures EquityMethodInvestments $65.00M USD Point-in-time
Timber TimberAndTimberlands $8.31M USD Point-in-time
Timber TimberAndTimberlands $8.43M USD Point-in-time
Receivables, net AccountsAndNotesReceivableNet $24.59M USD Point-in-time
Receivables, net AccountsAndNotesReceivableNet $15.79M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrentAndNoncurrent $6.00M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrentAndNoncurrent $3.38M USD Point-in-time
Income taxes receivable IncomeTaxReceivable $2.09M USD Point-in-time
Income taxes receivable IncomeTaxReceivable $7.50M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $11.63M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $11.10M USD Point-in-time
Deferred tax asset, net DeferredTaxAssetsLiabilitiesNet $40.62M USD Point-in-time
Deferred tax asset, net DeferredTaxAssetsLiabilitiesNet $44.58M USD Point-in-time
Goodwill and other intangible assets IntangibleAssetsNetIncludingGoodwill $66.13M USD Point-in-time
Goodwill and other intangible assets IntangibleAssetsNetIncludingGoodwill $65.89M USD Point-in-time
Other assets OtherAssets $19.03M USD Point-in-time
Other assets OtherAssets $17.83M USD Point-in-time
TOTAL ASSETS Assets $1.24B USD Point-in-time
TOTAL ASSETS Assets $1.26B USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $20.40M USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $11.12M USD Point-in-time
Accrued employee compensation and benefits EmployeeRelatedLiabilitiesCurrentAndNoncurrent $2.81M USD Point-in-time
Accrued employee compensation and benefits EmployeeRelatedLiabilitiesCurrentAndNoncurrent $8.32M USD Point-in-time
Accrued property taxes AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent $3.09M USD Point-in-time
Accrued property taxes AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent $5.97M USD Point-in-time
Accrued interest InterestPayableCurrentAndNoncurrent $7.55M USD Point-in-time
Accrued interest InterestPayableCurrentAndNoncurrent $3.45M USD Point-in-time
Earnest money deposits CustomerAdvancesAndDeposits $10.11M USD Point-in-time
Earnest money deposits CustomerAdvancesAndDeposits $10.04M USD Point-in-time
Other accrued expenses OtherAccruedLiabilitiesCurrentAndNoncurrent $33.96M USD Point-in-time
Other accrued expenses OtherAccruedLiabilitiesCurrentAndNoncurrent $35.73M USD Point-in-time
Other liabilities OtherLiabilities $31.80M USD Point-in-time
Other liabilities OtherLiabilities $30.52M USD Point-in-time
Debt LongTermDebt $432.74M USD Point-in-time
Debt LongTermDebt $434.41M USD Point-in-time
TOTAL LIABILITIES Liabilities $533.58M USD Point-in-time
TOTAL LIABILITIES Liabilities $548.46M USD Point-in-time
COMMITMENTS AND CONTINGENCIES CommitmentsAndContingencies - USD Point-in-time
COMMITMENTS AND CONTINGENCIES CommitmentsAndContingencies - USD Point-in-time
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 36,946,603 issued at first quarter-end 2015 and year-end 2014 CommonStockValue $36.95M USD Point-in-time
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 36,946,603 issued at first quarter-end 2015 and year-end 2014 CommonStockValue $36.95M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $558.95M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $558.60M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $158.84M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $167.00M USD Point-in-time
Treasury stock, at cost, 3,328,077 shares at first quarter-end 2015 and 3,485,278 shares at year-end 2014 TreasuryStockValue $55.69M USD Point-in-time
Treasury stock, at cost, 3,328,077 shares at first quarter-end 2015 and 3,485,278 shares at year-end 2014 TreasuryStockValue $53.12M USD Point-in-time
Total Forestar Group Inc. shareholders equity StockholdersEquity $707.20M USD Point-in-time
Total Forestar Group Inc. shareholders equity StockholdersEquity $701.27M USD Point-in-time
Noncontrolling interests MinorityInterest $2.54M USD Point-in-time
Noncontrolling interests MinorityInterest $2.12M USD Point-in-time
TOTAL EQUITY StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $703.39M USD Point-in-time
TOTAL EQUITY StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $709.74M USD Point-in-time
TOTAL LIABILITIES AND EQUITY LiabilitiesAndStockholdersEquity $1.26B USD Point-in-time
TOTAL LIABILITIES AND EQUITY LiabilitiesAndStockholdersEquity $1.24B USD Point-in-time
Income Statement 56 line items
Line Item Tag Value Unit Period
Real estate sales and other SalesOfRealEstate $55.55M USD 1 Quarter
Real estate sales and other SalesOfRealEstate $21.96M USD 1 Quarter
Commercial and income producing properties CommercialAndIncomeProducingPropertiesRevenue $10.87M USD 1 Quarter
Commercial and income producing properties CommercialAndIncomeProducingPropertiesRevenue $9.93M USD 1 Quarter
Real estate RealEstateRevenueNet $65.48M USD 1 Quarter
Real estate RealEstateRevenueNet $32.83M USD 1 Quarter
Oil and gas OilAndGasRevenue $13.19M USD 1 Quarter
Oil and gas OilAndGasRevenue $17.55M USD 1 Quarter
Other natural resources OtherSalesRevenueNet $1.57M USD 1 Quarter
Other natural resources OtherSalesRevenueNet $1.79M USD 1 Quarter
Total revenues SalesRevenueNet $84.61M USD 1 Quarter
Total revenues SalesRevenueNet $47.80M USD 1 Quarter
Cost of real estate sales and other CostOfRealEstateSales $10.36M USD 1 Quarter
Cost of real estate sales and other CostOfRealEstateSales $26.06M USD 1 Quarter
Cost of commercial and income producing properties CostOfCommercialAndIncomeProducingProperties $7.69M USD 1 Quarter
Cost of commercial and income producing properties CostOfCommercialAndIncomeProducingProperties $10.12M USD 1 Quarter
Cost of oil and gas producing activities OilAndGasProductionExpense $12.62M USD 1 Quarter
Cost of oil and gas producing activities OilAndGasProductionExpense $11.54M USD 1 Quarter
Cost of other natural resources OtherCostOfOperatingRevenue $776.00K USD 1 Quarter
Cost of other natural resources OtherCostOfOperatingRevenue $920.00K USD 1 Quarter
Other operating OtherCostAndExpenseOperating $14.00M USD 1 Quarter
Other operating OtherCostAndExpenseOperating $18.06M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $8.14M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $5.14M USD 1 Quarter
Total expenses CostsAndExpenses $68.72M USD 1 Quarter
Total expenses CostsAndExpenses $56.72M USD 1 Quarter
Gain on asset exchange and sales GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain on asset exchange and sales GainLossOnDispositionOfAssets1 $1.18M USD 1 Quarter
OPERATING INCOME (LOSS) OperatingIncomeLoss $-7.74M USD 1 Quarter
OPERATING INCOME (LOSS) OperatingIncomeLoss $15.88M USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $3.04M USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $991.00K USD 1 Quarter
Interest expense InterestExpense $8.82M USD 1 Quarter
Interest expense InterestExpense $5.50M USD 1 Quarter
Other non-operating income OtherNonoperatingIncome $2.29M USD 1 Quarter
Other non-operating income OtherNonoperatingIncome $917.00K USD 1 Quarter
INCOME (LOSS) BEFORE TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $13.66M USD 1 Quarter
INCOME (LOSS) BEFORE TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-12.60M USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $-4.36M USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $4.66M USD 1 Quarter
CONSOLIDATED NET INCOME (LOSS) ProfitLoss $-8.24M USD 1 Quarter
CONSOLIDATED NET INCOME (LOSS) ProfitLoss $9.01M USD 1 Quarter
Less: Net (income) loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $673.00K USD 1 Quarter
Less: Net (income) loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-79.00K USD 1 Quarter
NET INCOME (LOSS) ATTRIBUTABLE TO FORESTAR GROUP INC. NetIncomeLoss $8.33M USD 1 Quarter
NET INCOME (LOSS) ATTRIBUTABLE TO FORESTAR GROUP INC. NetIncomeLoss $-8.16M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 34.17M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 35.58M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 34.17M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 43.91M shares 1 Quarter
Basic (usd per share) EarningsPerShareBasic $0.20 USD 1 Quarter
Basic (usd per share) EarningsPerShareBasic $-0.24 USD 1 Quarter
Diluted (usd per share) EarningsPerShareDiluted $0.19 USD 1 Quarter
Diluted (usd per share) EarningsPerShareDiluted $-0.24 USD 1 Quarter
TOTAL COMPREHENSIVE INCOME (LOSS) ComprehensiveIncomeNetOfTax $-8.16M USD 1 Quarter
TOTAL COMPREHENSIVE INCOME (LOSS) ComprehensiveIncomeNetOfTax $8.33M USD 1 Quarter
Cash Flow Statement 78 line items
Line Item Tag Value Unit Period
Consolidated net income (loss) ProfitLoss $-8.24M USD 1 Quarter
Consolidated net income (loss) ProfitLoss $9.01M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $11.32M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $7.44M USD 1 Quarter
Change in deferred income taxes DeferredIncomeTaxExpenseBenefit $-4.36M USD 1 Quarter
Change in deferred income taxes DeferredIncomeTaxExpenseBenefit $2.98M USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $3.04M USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $991.00K USD 1 Quarter
Distributions of earnings of unconsolidated ventures EquityMethodInvestmentDividendsOrDistributions $1.02M USD 1 Quarter
Distributions of earnings of unconsolidated ventures EquityMethodInvestmentDividendsOrDistributions $2.85M USD 1 Quarter
Share-based compensation ShareBasedCompensation $313.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $3.34M USD 1 Quarter
Real estate cost of sales RealEstateCostOfSales $9.88M USD 1 Quarter
Real estate cost of sales RealEstateCostOfSales $24.81M USD 1 Quarter
Dry hole and leasehold abandonment costs ExplorationAbandonmentAndImpairmentExpense $2.38M USD 1 Quarter
Dry hole and leasehold abandonment costs ExplorationAbandonmentAndImpairmentExpense $86.00K USD 1 Quarter
Real estate development and acquisition expenditures, net PaymentsToAcquireAndDevelopRealEstate $35.03M USD 1 Quarter
Real estate development and acquisition expenditures, net PaymentsToAcquireAndDevelopRealEstate $34.77M USD 1 Quarter
Reimbursements from utility and improvement districts RecoveryOfDirectCosts $-1.54M USD 1 Quarter
Reimbursements from utility and improvement districts RecoveryOfDirectCosts $-4.13M USD 1 Quarter
Other changes in real estate OtherChangesInRealEstate $-652.00K USD 1 Quarter
Other changes in real estate OtherChangesInRealEstate $-667.00K USD 1 Quarter
Changes in deferred income RecognitionOfDeferredRevenue $-81.00K USD 1 Quarter
Changes in deferred income RecognitionOfDeferredRevenue $132.00K USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $1.18M USD 1 Quarter
Other OtherNoncashIncomeExpense $-982.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $-615.00K USD 1 Quarter
Notes and accounts receivable IncreaseDecreaseInAccountsAndNotesReceivable $-7.43M USD 1 Quarter
Notes and accounts receivable IncreaseDecreaseInAccountsAndNotesReceivable $-7.02M USD 1 Quarter
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-790.00K USD 1 Quarter
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-2.69M USD 1 Quarter
Accounts payable and other accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-15.64M USD 1 Quarter
Accounts payable and other accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-15.10M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $-2.17M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $5.41M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $-18.77M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $5.54M USD 1 Quarter
Property, equipment, software, reforestation and other PaymentsToAcquireProductiveAssets $4.70M USD 1 Quarter
Property, equipment, software, reforestation and other PaymentsToAcquireProductiveAssets $2.81M USD 1 Quarter
Oil and gas properties and equipment PaymentsToAcquireOilAndGasPropertyAndEquipment $19.36M USD 1 Quarter
Oil and gas properties and equipment PaymentsToAcquireOilAndGasPropertyAndEquipment $23.72M USD 1 Quarter
Investment in unconsolidated ventures PaymentsToAcquireEquityMethodInvestments $4.29M USD 1 Quarter
Investment in unconsolidated ventures PaymentsToAcquireEquityMethodInvestments $831.00K USD 1 Quarter
Proceeds from sales of oil and gas properties, net ProceedsFromSaleOfOilAndGasPropertyAndEquipment - USD 1 Quarter
Proceeds from sales of oil and gas properties, net ProceedsFromSaleOfOilAndGasPropertyAndEquipment $2.00M USD 1 Quarter
Return of investment in unconsolidated ventures ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $155.00K USD 1 Quarter
Return of investment in unconsolidated ventures ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $655.00K USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-24.70M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-28.19M USD 1 Quarter
Payments of debt RepaymentsOfLongTermDebt $2.46M USD 1 Quarter
Payments of debt RepaymentsOfLongTermDebt $15.71M USD 1 Quarter
Additions to debt ProceedsFromIssuanceOfLongTermDebt $3.12M USD 1 Quarter
Additions to debt ProceedsFromIssuanceOfLongTermDebt $2.61M USD 1 Quarter
Deferred financing fees PaymentsOfFinancingCosts - USD 1 Quarter
Deferred financing fees PaymentsOfFinancingCosts $6.00K USD 1 Quarter
Distributions to noncontrolling interests, net PaymentsToMinorityShareholders $338.00K USD 1 Quarter
Distributions to noncontrolling interests, net PaymentsToMinorityShareholders $498.00K USD 1 Quarter
Purchase of noncontrolling interests PaymentsToAcquireAdditionalInterestInSubsidiaries $7.97M USD 1 Quarter
Purchase of noncontrolling interests PaymentsToAcquireAdditionalInterestInSubsidiaries - USD 1 Quarter
Exercise of stock options ProceedsFromStockOptionsExercised $14.00K USD 1 Quarter
Exercise of stock options ProceedsFromStockOptionsExercised $754.00K USD 1 Quarter
Payroll taxes on issuance of stock-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $879.00K USD 1 Quarter
Payroll taxes on issuance of stock-based awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $723.00K USD 1 Quarter
Excess income tax benefit from share-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $1.00K USD 1 Quarter
Excess income tax benefit from share-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $20.00K USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-21.68M USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-396.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-43.87M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-44.33M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $126.26M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $147.98M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $170.13M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $192.31M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $126.26M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $147.98M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $170.13M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $192.31M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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