10-Q Filing

FORESTAR GROUP INC. CIK: 1406587 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001406587-20-000048`
Period End Date	20200331
Filing Date	20200429
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	for-20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 12 Cash Flow Statement 70 Stockholders Equity 29

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$438.20M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$382.80M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Real estate	`InventoryRealEstateLandAndLandDevelopmentCosts`	$1.03B	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	48.03M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	48.00M	shares	Point-in-time
Real estate	`InventoryRealEstateLandAndLandDevelopmentCosts`	$1.20B	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Investment in unconsolidated ventures	`EquityMethodInvestments`	$5.70M	USD	Point-in-time
Investment in unconsolidated ventures	`EquityMethodInvestments`	$7.30M	USD	Point-in-time
Income taxes receivable	`IncomeTaxReceivable`	$2.50M	USD	Point-in-time
Income taxes receivable	`IncomeTaxReceivable`	$3.20M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.40M	USD	Point-in-time
Deferred tax asset, net	`DeferredIncomeTaxAssetsNet`	$17.40M	USD	Point-in-time
Deferred tax asset, net	`DeferredIncomeTaxAssetsNet`	$8.00M	USD	Point-in-time
Other assets	`OtherAssets`	$13.70M	USD	Point-in-time
Other assets	`OtherAssets`	$21.00M	USD	Point-in-time
Total assets	`Assets`	$1.68B	USD	Point-in-time
Total assets	`Assets`	$1.46B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$16.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$23.10M	USD	Point-in-time
Earnest money deposits on sales contracts	`ContractWithCustomerLiability`	$89.90M	USD	Point-in-time
Earnest money deposits on sales contracts	`ContractWithCustomerLiability`	$100.60M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesCurrentAndNoncurrent`	$75.00M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesCurrentAndNoncurrent`	$79.60M	USD	Point-in-time
Debt	`LongTermDebt`	$460.50M	USD	Point-in-time
Debt	`LongTermDebt`	$640.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$838.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$646.80M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 48,025,359 and 47,997,366 shares issued and outstanding at March 31, 2020 and September 30, 2019, respectively	`CommonStockValue`	$48.00M	USD	Point-in-time
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 48,025,359 and 47,997,366 shares issued and outstanding at March 31, 2020 and September 30, 2019, respectively	`CommonStockValue`	$48.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$602.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$603.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$158.10M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$184.60M	USD	Point-in-time
Stockholders' equity	`StockholdersEquity`	$835.90M	USD	Point-in-time
Stockholders' equity	`StockholdersEquity`	$808.30M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$600.00K	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$900.00K	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$687.80M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$825.60M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$808.90M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$836.80M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$674.50M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$678.00M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.68B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.46B	USD	Point-in-time

Income Statement 12 line items

Line Item	Tag	Value	Unit	Period
Revenues	`EquityMethodInvestmentSummarizedFinancialInformationRevenue`	-	USD	1 Quarter
Revenues	`EquityMethodInvestmentSummarizedFinancialInformationRevenue`	$1.80M	USD	2 Qtrs
Revenues	`EquityMethodInvestmentSummarizedFinancialInformationRevenue`	$1.00M	USD	1 Quarter
Revenues	`EquityMethodInvestmentSummarizedFinancialInformationRevenue`	$3.00M	USD	2 Qtrs
Earnings (loss)	`EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems`	-	USD	1 Quarter
Earnings (loss)	`EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems`	$600.00K	USD	1 Quarter
Earnings (loss)	`EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems`	$2.00M	USD	2 Qtrs
Earnings (loss)	`EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems`	$1.40M	USD	2 Qtrs
Equity in earnings of unconsolidated ventures	`IncomeLossFromEquityMethodInvestments`	$800.00K	USD	2 Qtrs
Equity in earnings of unconsolidated ventures	`IncomeLossFromEquityMethodInvestments`	$600.00K	USD	2 Qtrs
Equity in earnings of unconsolidated ventures	`IncomeLossFromEquityMethodInvestments`	$300.00K	USD	1 Quarter
Equity in earnings of unconsolidated ventures	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$16.80M	USD	1 Quarter
Net income	`ProfitLoss`	$27.10M	USD	2 Qtrs
Net income	`ProfitLoss`	$3.90M	USD	1 Quarter
Net income	`ProfitLoss`	$16.70M	USD	2 Qtrs
Net income	`ProfitLoss`	$12.80M	USD	1 Quarter
Net income	`ProfitLoss`	$10.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.40M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.00M	USD	2 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$3.90M	USD	2 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$9.40M	USD	2 Qtrs
Equity in earnings of unconsolidated ventures	`IncomeLossFromEquityMethodInvestments`	$800.00K	USD	2 Qtrs
Equity in earnings of unconsolidated ventures	`IncomeLossFromEquityMethodInvestments`	$600.00K	USD	2 Qtrs
Equity in earnings of unconsolidated ventures	`IncomeLossFromEquityMethodInvestments`	$300.00K	USD	1 Quarter
Equity in earnings of unconsolidated ventures	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Distributions of earnings of unconsolidated ventures	`EquityMethodInvestmentDividendsOrDistributions`	-	USD	2 Qtrs
Distributions of earnings of unconsolidated ventures	`EquityMethodInvestmentDividendsOrDistributions`	$4.90M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.30M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$800.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$200.00K	USD	2 Qtrs
Production Related Impairments or Charges	`ProductionRelatedImpairmentsOrCharges`	$400.00K	USD	2 Qtrs
Production Related Impairments or Charges	`ProductionRelatedImpairmentsOrCharges`	$400.00K	USD	2 Qtrs
Production Related Impairments or Charges	`ProductionRelatedImpairmentsOrCharges`	$100.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	$900.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	$300.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	$100.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Increase in real estate	`IncreaseDecreaseInInventories`	$353.50M	USD	2 Qtrs
Increase in real estate	`IncreaseDecreaseInInventories`	$170.70M	USD	2 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.50M	USD	2 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.60M	USD	2 Qtrs
(Decrease) increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$12.60M	USD	2 Qtrs
(Decrease) increase in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.00M	USD	2 Qtrs
Increase in earnest money deposits on sales contracts	`IncreaseDecreaseInContractWithCustomerLiability`	$29.50M	USD	2 Qtrs
Increase in earnest money deposits on sales contracts	`IncreaseDecreaseInContractWithCustomerLiability`	$11.00M	USD	2 Qtrs
Decrease in income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-700.00K	USD	2 Qtrs
Decrease in income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.90M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-283.50M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-123.80M	USD	2 Qtrs
Expenditures for property, equipment, software and other	`PaymentsToAcquirePropertyPlantAndEquipment`	$800.00K	USD	2 Qtrs
Expenditures for property, equipment, software and other	`PaymentsToAcquirePropertyPlantAndEquipment`	$200.00K	USD	2 Qtrs
Return of investment in unconsolidated ventures	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$2.40M	USD	2 Qtrs
Return of investment in unconsolidated ventures	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$100.00K	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSalesOfAssetsInvestingActivities`	-	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSalesOfAssetsInvestingActivities`	$1.30M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-700.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.50M	USD	2 Qtrs
Proceeds from Notes Payable	`ProceedsFromNotesPayable`	$40.00M	USD	2 Qtrs
Proceeds from Notes Payable	`ProceedsFromNotesPayable`	$300.00M	USD	2 Qtrs
Repayments of Notes Payable	`RepaymentsOfNotesPayable`	$5.00M	USD	2 Qtrs
Repayments of Notes Payable	`RepaymentsOfNotesPayable`	$118.90M	USD	2 Qtrs
Deferred financing fees	`PaymentsOfFinancingCosts`	-	USD	2 Qtrs
Deferred financing fees	`PaymentsOfFinancingCosts`	$4.80M	USD	2 Qtrs
Distributions to noncontrolling interests, net	`PaymentsToMinorityShareholders`	$400.00K	USD	2 Qtrs
Distributions to noncontrolling interests, net	`PaymentsToMinorityShareholders`	$3.60M	USD	2 Qtrs
Cash paid for shares withheld for taxes	`EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards`	$-100.00K	USD	2 Qtrs
Cash paid for shares withheld for taxes	`EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards`	$-200.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$175.70M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$31.30M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$55.40M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-252.90M	USD	2 Qtrs
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$438.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$382.80M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$82.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$438.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$382.80M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$335.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$82.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$438.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$382.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$335.00M	USD	Point-in-time

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Beginning balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$687.80M	USD	Point-in-time
Beginning balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$825.60M	USD	Point-in-time
Beginning balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$808.90M	USD	Point-in-time
Beginning balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$836.80M	USD	Point-in-time
Beginning balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$674.50M	USD	Point-in-time
Beginning balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$678.00M	USD	Point-in-time
Net income	`ProfitLoss`	$16.80M	USD	1 Quarter
Net income	`ProfitLoss`	$27.10M	USD	2 Qtrs
Net income	`ProfitLoss`	$3.90M	USD	1 Quarter
Net income	`ProfitLoss`	$16.70M	USD	2 Qtrs
Net income	`ProfitLoss`	$12.80M	USD	1 Quarter
Net income	`ProfitLoss`	$10.40M	USD	1 Quarter
Stock issued under employee incentive plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Stock issued under employee incentive plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-100.00K	USD	1 Quarter
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$100.00K	USD	1 Quarter
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$200.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$500.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$100.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$800.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$100.00K	USD	1 Quarter
Distributions to noncontrolling interests	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$500.00K	USD	1 Quarter
Distributions to noncontrolling interests	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$3.10M	USD	1 Quarter
Distributions to noncontrolling interests	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$400.00K	USD	1 Quarter
Ending balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$687.80M	USD	Point-in-time
Ending balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$825.60M	USD	Point-in-time
Ending balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$808.90M	USD	Point-in-time
Ending balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$836.80M	USD	Point-in-time
Ending balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$674.50M	USD	Point-in-time
Ending balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$678.00M	USD	Point-in-time

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