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10-Q Filing

FORESTAR GROUP INC. CIK: 1406587 Q2 2021
Filing Information
Form Type 10-Q
Accession Number 0001406587-21-000050
Period End Date 20210331
Filing Date 20210423
Fiscal Year 2021
Fiscal Period Q2
XBRL Instance for-20210331_htm.xml
Filing Contents
Balance Sheet 54 line items
Line Item Tag Value Unit Period
Cash and Cash Equivalents, at Carrying Value CashAndCashEquivalentsAtCarryingValue $382.80M USD Point-in-time
Cash and Cash Equivalents, at Carrying Value CashAndCashEquivalentsAtCarryingValue $438.20M USD Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 200.00M shares Point-in-time
Cash and Cash Equivalents, at Carrying Value CashAndCashEquivalentsAtCarryingValue $167.20M USD Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 200.00M shares Point-in-time
Cash and Cash Equivalents, at Carrying Value CashAndCashEquivalentsAtCarryingValue $394.30M USD Point-in-time
Real estate InventoryRealEstateLandAndLandDevelopmentCosts $1.70B USD Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 49.12M shares Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 48.06M shares Point-in-time
Real estate InventoryRealEstateLandAndLandDevelopmentCosts $1.31B USD Point-in-time
Common Stock, Par or Stated Value Per Share CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Investment in unconsolidated ventures EquityMethodInvestments $900.00K USD Point-in-time
Common Stock, Par or Stated Value Per Share CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Investment in unconsolidated ventures EquityMethodInvestments $3.60M USD Point-in-time
Income taxes receivable IncomeTaxReceivable - USD Point-in-time
Income taxes receivable IncomeTaxReceivable $6.30M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $2.00M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.10M USD Point-in-time
Other assets OtherAssets $30.20M USD Point-in-time
Other assets OtherAssets $24.90M USD Point-in-time
Total assets Assets $1.90B USD Point-in-time
Total assets Assets $1.74B USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $29.20M USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $39.80M USD Point-in-time
Earnest money on sales contracts ContractWithCustomerLiability $140.20M USD Point-in-time
Earnest money on sales contracts ContractWithCustomerLiability $98.30M USD Point-in-time
Deferred Income Tax Liabilities, Net DeferredIncomeTaxLiabilitiesNet $7.40M USD Point-in-time
Deferred Income Tax Liabilities, Net DeferredIncomeTaxLiabilitiesNet $5.70M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrentAndNoncurrent $93.80M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrentAndNoncurrent $112.40M USD Point-in-time
Debt LongTermDebt $654.60M USD Point-in-time
Debt LongTermDebt $641.10M USD Point-in-time
Total liabilities Liabilities $954.40M USD Point-in-time
Total liabilities Liabilities $868.10M USD Point-in-time
Commitments and contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 49,124,801 and 48,061,921 shares issued and outstanding at March 31, 2021 and September 30, 2020, respectively CommonStockValue $48.10M USD Point-in-time
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 49,124,801 and 48,061,921 shares issued and outstanding at March 31, 2021 and September 30, 2020, respectively CommonStockValue $49.10M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $603.90M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $625.30M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $218.90M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $269.30M USD Point-in-time
Stockholders' equity StockholdersEquity $870.90M USD Point-in-time
Stockholders' equity StockholdersEquity $943.70M USD Point-in-time
Noncontrolling interests MinorityInterest $900.00K USD Point-in-time
Noncontrolling interests MinorityInterest $800.00K USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $871.80M 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 $894.10M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $944.50M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $825.60M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.74B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.90B USD Point-in-time
Income Statement 62 line items
Line Item Tag Value Unit Period
Revenues Revenues $594.20M USD 2 Qtrs
Revenues Revenues $287.10M USD 1 Quarter
Revenues Revenues $159.10M USD 1 Quarter
Revenues Revenues $406.40M USD 2 Qtrs
Cost of sales CostOfGoodsAndServicesSold $496.70M USD 2 Qtrs
Cost of sales CostOfGoodsAndServicesSold $136.60M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $233.80M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $353.20M USD 2 Qtrs
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $21.70M USD 2 Qtrs
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $31.80M USD 2 Qtrs
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $11.20M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $16.30M USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $300.00K USD 2 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $800.00K USD 2 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $300.00K USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $100.00K USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $100.00K USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 $300.00K USD 1 Quarter
Interest and other income OtherNonoperatingIncome $800.00K USD 2 Qtrs
Interest and other income OtherNonoperatingIncome $1.80M USD 1 Quarter
Interest and other income OtherNonoperatingIncome $3.40M USD 2 Qtrs
Interest and other income OtherNonoperatingIncome $500.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $13.70M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $37.60M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $66.80M USD 2 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $35.80M USD 2 Qtrs
Income tax expense IncomeTaxExpenseBenefit $9.20M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $16.30M USD 2 Qtrs
Income tax expense IncomeTaxExpenseBenefit $3.30M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $8.70M USD 2 Qtrs
Net income ProfitLoss $10.40M USD 1 Quarter
Net income ProfitLoss $50.50M USD 2 Qtrs
Net income ProfitLoss $22.10M USD 1 Quarter
Net income ProfitLoss $28.40M USD 1 Quarter
Net income ProfitLoss $16.80M USD 1 Quarter
Net income ProfitLoss $27.10M USD 2 Qtrs
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $700.00K USD 2 Qtrs
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $100.00K USD 2 Qtrs
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $800.00K USD 1 Quarter
Net income attributable to Forestar Group Inc. NetIncomeLoss $50.40M USD 2 Qtrs
Net income attributable to Forestar Group Inc. NetIncomeLoss $28.40M USD 1 Quarter
Net income attributable to Forestar Group Inc. NetIncomeLoss $9.60M USD 1 Quarter
Net income attributable to Forestar Group Inc. NetIncomeLoss $26.40M USD 2 Qtrs
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 48.27M shares 2 Qtrs
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 48.41M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 48.03M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 48.02M shares 2 Qtrs
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 48.51M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 48.07M shares 2 Qtrs
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 48.08M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 48.35M shares 2 Qtrs
Earnings Per Share, Basic EarningsPerShareBasic $0.55 USD 2 Qtrs
Earnings Per Share, Basic EarningsPerShareBasic $0.59 USD 1 Quarter
Earnings Per Share, Basic EarningsPerShareBasic $1.04 USD 2 Qtrs
Earnings Per Share, Basic EarningsPerShareBasic $0.20 USD 1 Quarter
Earnings Per Share, Diluted EarningsPerShareDiluted $1.04 USD 2 Qtrs
Earnings Per Share, Diluted EarningsPerShareDiluted $0.20 USD 1 Quarter
Earnings Per Share, Diluted EarningsPerShareDiluted $0.55 USD 2 Qtrs
Earnings Per Share, Diluted EarningsPerShareDiluted $0.59 USD 1 Quarter
Cash Flow Statement 69 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $10.40M USD 1 Quarter
Net income ProfitLoss $50.50M USD 2 Qtrs
Net income ProfitLoss $22.10M USD 1 Quarter
Net income ProfitLoss $28.40M USD 1 Quarter
Net income ProfitLoss $16.80M USD 1 Quarter
Net income ProfitLoss $27.10M USD 2 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $3.40M USD 2 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $1.50M USD 2 Qtrs
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $2.20M USD 2 Qtrs
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $9.40M USD 2 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $300.00K USD 2 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $800.00K USD 2 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $300.00K USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $100.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.20M USD 2 Qtrs
Stock-based compensation expense ShareBasedCompensation $900.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.30M USD 2 Qtrs
Stock-based compensation expense ShareBasedCompensation $800.00K USD 1 Quarter
Land option charges ProductionRelatedImpairmentsOrCharges $400.00K USD 2 Qtrs
Land option charges ProductionRelatedImpairmentsOrCharges $900.00K USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $100.00K USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 $300.00K USD 1 Quarter
At-the-market Equity Offering Program, Common Stock Issued AtTheMarketEquityOfferingProgramCommonStockIssued 1.00M shares 1 Quarter
Increase in real estate IncreaseDecreaseInInventories $377.30M USD 2 Qtrs
Increase in real estate IncreaseDecreaseInInventories $170.70M USD 2 Qtrs
Decrease in income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $-6.30M USD 2 Qtrs
Decrease in income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $-700.00K USD 2 Qtrs
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $4.50M USD 2 Qtrs
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $6.50M USD 2 Qtrs
Increase (decrease) in accounts payable and other accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-1.00M USD 2 Qtrs
Increase (decrease) in accounts payable and other accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $29.20M USD 2 Qtrs
Increase in earnest money on sales contracts IncreaseDecreaseInContractWithCustomerLiability $11.00M USD 2 Qtrs
Increase in earnest money on sales contracts IncreaseDecreaseInContractWithCustomerLiability $42.80M USD 2 Qtrs
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-123.80M USD 2 Qtrs
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-249.50M USD 2 Qtrs
Expenditures for property, equipment and other PaymentsToAcquirePropertyPlantAndEquipment $200.00K USD 2 Qtrs
Expenditures for property, equipment and other PaymentsToAcquirePropertyPlantAndEquipment $200.00K USD 2 Qtrs
Return of investment in unconsolidated ventures ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $2.20M USD 2 Qtrs
Return of investment in unconsolidated ventures ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $2.40M 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 investing activities NetCashProvidedByUsedInInvestingActivities $3.50M USD 2 Qtrs
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $2.00M USD 2 Qtrs
Proceeds from debt ProceedsFromNotesPayable - USD 2 Qtrs
Proceeds from debt ProceedsFromNotesPayable $300.00M USD 2 Qtrs
Repayments of debt RepaymentsOfNotesPayable - USD 2 Qtrs
Repayments of debt RepaymentsOfNotesPayable $118.90M USD 2 Qtrs
Deferred financing fees PaymentsOfFinancingCosts - USD 2 Qtrs
Deferred financing fees PaymentsOfFinancingCosts $4.80M USD 2 Qtrs
Issuance of common stock ProceedsFromIssuanceOfCommonStock $23.30M USD 2 Qtrs
Issuance of common stock ProceedsFromIssuanceOfCommonStock - USD 2 Qtrs
Purchase of noncontrolling interest ProceedsFromPaymentsToMinorityShareholders $-2.40M USD 2 Qtrs
Purchase of noncontrolling interest ProceedsFromPaymentsToMinorityShareholders - USD 2 Qtrs
Distributions to noncontrolling interests, net PaymentsToMinorityShareholders $400.00K USD 2 Qtrs
Distributions to noncontrolling interests, net PaymentsToMinorityShareholders $100.00K USD 2 Qtrs
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $200.00K USD 2 Qtrs
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $400.00K USD 2 Qtrs
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $20.40M USD 2 Qtrs
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $175.70M USD 2 Qtrs
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $55.40M USD 2 Qtrs
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-227.10M USD 2 Qtrs
Cash and Cash Equivalents, at Carrying Value CashAndCashEquivalentsAtCarryingValue $382.80M USD Point-in-time
Cash and Cash Equivalents, at Carrying Value CashAndCashEquivalentsAtCarryingValue $438.20M USD Point-in-time
Cash and Cash Equivalents, at Carrying Value CashAndCashEquivalentsAtCarryingValue $167.20M USD Point-in-time
Cash and Cash Equivalents, at Carrying Value CashAndCashEquivalentsAtCarryingValue $394.30M USD Point-in-time
Note payable issued for real estate NotesIssued1 $12.50M USD 2 Qtrs
Note payable issued for real estate NotesIssued1 - USD 2 Qtrs
Stockholders Equity 31 line items
Line Item Tag Value Unit Period
Beginning balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $871.80M 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 $894.10M USD Point-in-time
Beginning balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $944.50M USD Point-in-time
Beginning balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $825.60M USD Point-in-time
Net income ProfitLoss $10.40M USD 1 Quarter
Net income ProfitLoss $50.50M USD 2 Qtrs
Net income ProfitLoss $22.10M USD 1 Quarter
Net income ProfitLoss $28.40M USD 1 Quarter
Net income ProfitLoss $16.80M USD 1 Quarter
Net income ProfitLoss $27.10M USD 2 Qtrs
Stock Issued During Period, Value, New Issues StockIssuedDuringPeriodValueNewIssues $23.30M USD 1 Quarter
Noncontrolling Interest, Increase from Subsidiary Equity Issuance MinorityInterestDecreaseFromRedemptions $-1.90M USD 1 Quarter
Stock issued under employee incentive plans StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Stock issued under employee incentive plans StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Stock issued under employee incentive plans StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $300.00K 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 $900.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $500.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $300.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $800.00K USD 1 Quarter
Distributions to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $400.00K USD 1 Quarter
Ending balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $871.80M 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 $894.10M USD Point-in-time
Ending balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $944.50M USD Point-in-time
Ending balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $825.60M USD Point-in-time

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

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