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10-Q Filing

FORESTAR GROUP INC. CIK: 1406587 Q2 2022
Filing Information
Form Type 10-Q
Accession Number 0001406587-22-000070
Period End Date 20220331
Filing Date 20220422
Fiscal Year 2022
Fiscal Period Q2
XBRL Instance for-20220331_htm.xml
Filing Contents
Balance Sheet 50 line items
Line Item Tag Value Unit Period
Common Stock, Par or Stated Value Per Share CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $153.60M USD Point-in-time
Common Stock, Par or Stated Value Per Share CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $233.70M USD Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 200.00M shares Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized 200.00M shares Point-in-time
Real estate InventoryRealEstateLandAndLandDevelopmentCosts $1.91B USD Point-in-time
Real estate InventoryRealEstateLandAndLandDevelopmentCosts $1.96B USD Point-in-time
Investment in unconsolidated ventures EquityMethodInvestments $500.00K USD Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 49.74M shares Point-in-time
Investment in unconsolidated ventures EquityMethodInvestments $900.00K USD Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 49.58M shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $2.90M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $5.00M USD Point-in-time
Other assets OtherAssets $31.90M USD Point-in-time
Other assets OtherAssets $39.10M USD Point-in-time
Total assets Assets $2.23B USD Point-in-time
Total assets Assets $2.10B USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $55.60M USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $47.40M USD Point-in-time
Accrued development costs AccruedDevelopmentCosts $120.60M USD Point-in-time
Accrued development costs AccruedDevelopmentCosts $104.50M USD Point-in-time
Earnest money on sales contracts ContractWithCustomerLiability $148.30M USD Point-in-time
Earnest money on sales contracts ContractWithCustomerLiability $141.90M USD Point-in-time
Deferred tax liability, net DeferredIncomeTaxLiabilitiesNet $24.40M USD Point-in-time
Deferred tax liability, net DeferredIncomeTaxLiabilitiesNet $23.00M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrentAndNoncurrent $56.70M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrentAndNoncurrent $77.80M USD Point-in-time
Debt LongTermDebt $705.30M USD Point-in-time
Debt LongTermDebt $704.50M USD Point-in-time
Total liabilities Liabilities $1.12B USD Point-in-time
Total liabilities Liabilities $1.09B USD Point-in-time
Common Stock, Value, Issued CommonStockValue $49.60M USD Point-in-time
Common Stock, Value, Issued CommonStockValue $49.70M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $639.30M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $636.20M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $417.40M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $329.10M USD Point-in-time
Stockholders' equity StockholdersEquity $1.01B USD Point-in-time
Stockholders' equity StockholdersEquity $1.11B USD Point-in-time
Noncontrolling interests MinorityInterest $1.00M USD Point-in-time
Noncontrolling interests MinorityInterest $1.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.02B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.06B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.11B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $871.80M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $894.10M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $944.50M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.10B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.23B 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 $421.60M USD 1 Quarter
Revenues Revenues $829.20M USD 2 Qtrs
Cost of sales CostOfGoodsAndServicesSold $233.80M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $334.10M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $496.70M USD 2 Qtrs
Cost of sales CostOfGoodsAndServicesSold $668.30M USD 2 Qtrs
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $16.30M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $31.80M USD 2 Qtrs
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $45.80M USD 2 Qtrs
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $24.30M USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $100.00K USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $1.10M USD 2 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $300.00K USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 $500.00K USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
Interest and other income OtherNonoperatingIncome - USD 2 Qtrs
Interest and other income OtherNonoperatingIncome $500.00K USD 1 Quarter
Interest and other income OtherNonoperatingIncome $800.00K USD 2 Qtrs
Interest and other income OtherNonoperatingIncome - USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $66.80M USD 2 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $63.20M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $116.70M USD 2 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $37.60M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $28.40M USD 2 Qtrs
Income tax expense IncomeTaxExpenseBenefit $15.40M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $9.20M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $16.30M USD 2 Qtrs
Net income ProfitLoss $47.80M USD 1 Quarter
Net income ProfitLoss $88.30M USD 2 Qtrs
Net income ProfitLoss $28.40M USD 1 Quarter
Net income ProfitLoss $40.50M USD 1 Quarter
Net income ProfitLoss $22.10M USD 1 Quarter
Net income ProfitLoss $50.50M USD 2 Qtrs
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $100.00K USD 2 Qtrs
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 2 Qtrs
Net income attributable to Forestar Group Inc. NetIncomeLoss $88.30M USD 2 Qtrs
Net income attributable to Forestar Group Inc. NetIncomeLoss $50.40M USD 2 Qtrs
Net income attributable to Forestar Group Inc. NetIncomeLoss $47.80M USD 1 Quarter
Net income attributable to Forestar Group Inc. NetIncomeLoss $28.40M USD 1 Quarter
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 49.82M shares 1 Quarter
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 48.27M shares 2 Qtrs
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 48.41M shares 1 Quarter
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 49.75M shares 2 Qtrs
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 48.51M shares 1 Quarter
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 49.81M shares 2 Qtrs
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 49.88M shares 1 Quarter
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 48.35M shares 2 Qtrs
Basic net income per common share attributable to Forestar Group Inc. EarningsPerShareBasic $0.96 USD 1 Quarter
Basic net income per common share attributable to Forestar Group Inc. EarningsPerShareBasic $1.77 USD 2 Qtrs
Basic net income per common share attributable to Forestar Group Inc. EarningsPerShareBasic $1.04 USD 2 Qtrs
Basic net income per common share attributable to Forestar Group Inc. EarningsPerShareBasic $0.59 USD 1 Quarter
Diluted net income per common share attributable to Forestar Group Inc. EarningsPerShareDiluted $1.77 USD 2 Qtrs
Diluted net income per common share attributable to Forestar Group Inc. EarningsPerShareDiluted $0.59 USD 1 Quarter
Diluted net income per common share attributable to Forestar Group Inc. EarningsPerShareDiluted $1.04 USD 2 Qtrs
Diluted net income per common share attributable to Forestar Group Inc. EarningsPerShareDiluted $0.96 USD 1 Quarter
Cash Flow Statement 63 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $47.80M USD 1 Quarter
Net income ProfitLoss $88.30M USD 2 Qtrs
Net income ProfitLoss $28.40M USD 1 Quarter
Net income ProfitLoss $40.50M USD 1 Quarter
Net income ProfitLoss $22.10M USD 1 Quarter
Net income ProfitLoss $50.50M USD 2 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $1.30M 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 $1.40M USD 2 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $100.00K USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $1.10M USD 2 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $300.00K USD 2 Qtrs
Stock-based compensation expense ShareBasedCompensation $1.60M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $900.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.20M USD 2 Qtrs
Stock-based compensation expense ShareBasedCompensation $2.00M USD 2 Qtrs
Real estate impairment and land option charges ProductionRelatedImpairmentsOrCharges $900.00K USD 2 Qtrs
Real estate impairment and land option charges ProductionRelatedImpairmentsOrCharges $6.00M USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 $500.00K USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 2 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
Increase in real estate IncreaseDecreaseInInventories $377.30M USD 2 Qtrs
Increase in real estate IncreaseDecreaseInInventories $61.10M USD 2 Qtrs
Decrease (increase) in other assets IncreaseDecreaseInOtherOperatingAssets $-3.80M USD 2 Qtrs
Decrease (increase) in other assets IncreaseDecreaseInOtherOperatingAssets $6.50M USD 2 Qtrs
Increase in accounts payable and other accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $29.40M USD 2 Qtrs
Increase in accounts payable and other accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $25.60M USD 2 Qtrs
Increase in accrued development costs IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $3.60M USD 2 Qtrs
Increase in accrued development costs IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $16.10M USD 2 Qtrs
(Decrease) increase in earnest money deposits on sales contracts IncreaseDecreaseInContractWithCustomerLiability $42.80M USD 2 Qtrs
(Decrease) increase in earnest money deposits on sales contracts IncreaseDecreaseInContractWithCustomerLiability $-6.20M USD 2 Qtrs
Decrease in income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable - USD 2 Qtrs
Decrease in income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $-6.30M USD 2 Qtrs
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $76.60M USD 2 Qtrs
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-249.50M USD 2 Qtrs
Expenditures for property, equipment, software and other PaymentsToAcquirePropertyPlantAndEquipment $200.00K USD 2 Qtrs
Expenditures for property, equipment, software and other PaymentsToAcquirePropertyPlantAndEquipment $2.50M USD 2 Qtrs
Return of investment in unconsolidated ventures ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $1.50M USD 2 Qtrs
Return of investment in unconsolidated ventures ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $2.20M USD 2 Qtrs
Proceeds from sale of assets ProceedsFromSalesOfAssetsInvestingActivities $3.20M USD 2 Qtrs
Proceeds from sale of assets ProceedsFromSalesOfAssetsInvestingActivities - USD 2 Qtrs
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $2.20M USD 2 Qtrs
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $2.00M USD 2 Qtrs
Issuance of common stock ProceedsFromIssuanceOfCommonStock $1.70M USD 2 Qtrs
Issuance of common stock ProceedsFromIssuanceOfCommonStock $23.30M USD 2 Qtrs
Purchase of noncontrolling interest ProceedsFromPaymentsToMinorityShareholders - USD 2 Qtrs
Purchase of noncontrolling interest ProceedsFromPaymentsToMinorityShareholders $-2.40M USD 2 Qtrs
Distributions to noncontrolling interests, net PaymentsToMinorityShareholders $100.00K USD 2 Qtrs
Distributions to noncontrolling interests, net PaymentsToMinorityShareholders - USD 2 Qtrs
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $400.00K USD 2 Qtrs
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $400.00K USD 2 Qtrs
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.30M USD 2 Qtrs
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $20.40M USD 2 Qtrs
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $80.10M USD 2 Qtrs
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-227.10M USD 2 Qtrs
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $394.30M USD Point-in-time
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $167.20M USD Point-in-time
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $233.70M USD Point-in-time
Note payable issued for real estate NotesIssued1 - USD 2 Qtrs
Note payable issued for real estate NotesIssued1 $12.50M USD 2 Qtrs
Stockholders Equity 36 line items
Line Item Tag Value Unit Period
Beginning balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.02B USD Point-in-time
Beginning balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.06B USD Point-in-time
Beginning balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.11B USD Point-in-time
Beginning balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $871.80M USD Point-in-time
Beginning balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $894.10M USD Point-in-time
Beginning balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $944.50M USD Point-in-time
Net income ProfitLoss $47.80M USD 1 Quarter
Net income ProfitLoss $88.30M USD 2 Qtrs
Net income ProfitLoss $28.40M USD 1 Quarter
Net income ProfitLoss $40.50M USD 1 Quarter
Net income ProfitLoss $22.10M USD 1 Quarter
Net income ProfitLoss $50.50M USD 2 Qtrs
Issuance of common stock StockIssuedDuringPeriodValueNewIssues $23.30M USD 1 Quarter
Issuance of common stock StockIssuedDuringPeriodValueNewIssues $1.70M USD 1 Quarter
Stock Issued During Period, Shares, New Issues StockIssuedDuringPeriodSharesNewIssues 1.02M shares 1 Quarter
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests 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
Stock issued under employee incentive plans StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Cash paid for shares withheld for taxes AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $100.00K USD 1 Quarter
Cash paid for shares withheld for taxes AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $400.00K USD 1 Quarter
Cash paid for shares withheld for taxes AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $100.00K USD 1 Quarter
Cash paid for shares withheld for taxes AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $300.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.60M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $900.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $300.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $400.00K USD 1 Quarter
Ending balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.02B USD Point-in-time
Ending balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.06B USD Point-in-time
Ending balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.11B USD Point-in-time
Ending balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $871.80M USD Point-in-time
Ending balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $894.10M USD Point-in-time
Ending balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $944.50M USD Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 49.58M shares Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 49.12M shares Point-in-time

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

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