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10-Q Filing

FORESTAR GROUP INC. CIK: 1406587 Q3 2023
Filing Information
Form Type 10-Q
Accession Number 0001406587-23-000097
Period End Date 20230630
Filing Date 20230721
Fiscal Year 2023
Fiscal Period Q3
XBRL Instance for-20230630_htm.xml
Filing Contents
Balance Sheet 48 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $264.80M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $401.00M USD Point-in-time
Real estate InventoryRealEstateLandAndLandDevelopmentCosts $1.91B USD Point-in-time
Real estate InventoryRealEstateLandAndLandDevelopmentCosts $2.02B USD Point-in-time
Investment in unconsolidated ventures EquityMethodInvestments $500.00K USD Point-in-time
Investment in unconsolidated ventures EquityMethodInvestments $500.00K USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $5.70M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $5.70M USD Point-in-time
Other Assets OtherAssets $59.10M USD Point-in-time
Other Assets OtherAssets $49.60M USD Point-in-time
Total assets Assets $2.34B USD Point-in-time
Total assets Assets $2.38B USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $68.60M USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $72.20M USD Point-in-time
Accrued development costs AccruedDevelopmentCosts $91.10M USD Point-in-time
Accrued development costs AccruedDevelopmentCosts $122.30M USD Point-in-time
Earnest money on sales contracts ContractWithCustomerLiability $136.20M USD Point-in-time
Earnest money on sales contracts ContractWithCustomerLiability $123.80M USD Point-in-time
Deferred tax liability, net DeferredIncomeTaxLiabilitiesNet $34.10M USD Point-in-time
Deferred tax liability, net DeferredIncomeTaxLiabilitiesNet $36.90M USD Point-in-time
Accrued Liabilities AccruedLiabilitiesCurrentAndNoncurrent $54.10M USD Point-in-time
Accrued Liabilities AccruedLiabilitiesCurrentAndNoncurrent $70.10M USD Point-in-time
Long-Term Debt LongTermDebt $706.00M USD Point-in-time
Long-Term Debt LongTermDebt $707.20M USD Point-in-time
Total liabilities Liabilities $1.14B USD Point-in-time
Total liabilities Liabilities $1.08B 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, 49,903,713 and 49,761,480 shares issued and outstanding at June 30, 2023 and September 30, 2022, respectively CommonStockValue $49.90M USD Point-in-time
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 49,903,713 and 49,761,480 shares issued and outstanding at June 30, 2023 and September 30, 2022, respectively CommonStockValue $49.80M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $640.60M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $643.20M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $507.90M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $602.40M USD Point-in-time
Stockholders' equity StockholdersEquity $1.20B USD Point-in-time
Stockholders' equity StockholdersEquity $1.30B 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 $1.20B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.02B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.30B 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 $1.22B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.25B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.15B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.34B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.38B USD Point-in-time
Income Statement 56 line items
Line Item Tag Value Unit Period
Revenues Revenues $308.50M USD 1 Quarter
Revenues Revenues $368.90M USD 1 Quarter
Revenues Revenues $1.14B USD 3 Qtrs
Revenues Revenues $887.10M USD 3 Qtrs
Cost of sales CostOfGoodsAndServicesSold $234.60M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $698.70M USD 3 Qtrs
Cost of sales CostOfGoodsAndServicesSold $283.90M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $902.90M USD 3 Qtrs
Selling, General and Administrative Expense SellingGeneralAndAdministrativeExpense $71.30M USD 3 Qtrs
Selling, General and Administrative Expense SellingGeneralAndAdministrativeExpense $24.10M USD 1 Quarter
Selling, General and Administrative Expense SellingGeneralAndAdministrativeExpense $69.90M USD 3 Qtrs
Selling, General and Administrative Expense SellingGeneralAndAdministrativeExpense $26.40M USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $1.10M USD 3 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments - USD 3 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $3.20M USD 3 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $2.70M USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $1.60M USD 3 Qtrs
Interest and other income InterestAndOtherIncome $200.00K USD 3 Qtrs
Interest and other income InterestAndOtherIncome $200.00K USD 1 Quarter
Interest and other income InterestAndOtherIncome $3.80M USD 1 Quarter
Interest and other income InterestAndOtherIncome $7.50M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $169.40M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $52.70M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $62.40M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $126.20M USD 3 Qtrs
Income tax expense IncomeTaxExpenseBenefit $15.60M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $13.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $41.40M USD 3 Qtrs
Income tax expense IncomeTaxExpenseBenefit $31.70M USD 3 Qtrs
Net income ProfitLoss $94.50M USD 3 Qtrs
Net income ProfitLoss $39.70M USD 1 Quarter
Net income ProfitLoss $20.80M USD 1 Quarter
Net income ProfitLoss $46.80M USD 1 Quarter
Net income ProfitLoss $128.00M USD 3 Qtrs
Net income ProfitLoss $47.80M USD 1 Quarter
Net income ProfitLoss $40.50M USD 1 Quarter
Net income ProfitLoss $26.90M USD 1 Quarter
Basic net income per common share EarningsPerShareBasic $1.89 USD 3 Qtrs
Basic net income per common share EarningsPerShareBasic $0.94 USD 1 Quarter
Basic net income per common share EarningsPerShareBasic $0.80 USD 1 Quarter
Basic net income per common share EarningsPerShareBasic $2.57 USD 3 Qtrs
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 49.88M shares 1 Quarter
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 49.96M shares 3 Qtrs
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 50.06M shares 1 Quarter
Weighted average number of common shares WeightedAverageNumberOfSharesOutstandingBasic 49.79M shares 3 Qtrs
Diluted net income per common share EarningsPerShareDiluted $2.57 USD 3 Qtrs
Diluted net income per common share EarningsPerShareDiluted $0.93 USD 1 Quarter
Diluted net income per common share EarningsPerShareDiluted $1.89 USD 3 Qtrs
Diluted net income per common share EarningsPerShareDiluted $0.80 USD 1 Quarter
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 50.18M shares 1 Quarter
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 49.89M shares 1 Quarter
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 49.83M shares 3 Qtrs
Adjusted weighted average number of common shares WeightedAverageNumberOfDilutedSharesOutstanding 50.03M shares 3 Qtrs
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Common stock, par value (in usd per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common stock, par value (in usd per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Net income ProfitLoss $94.50M USD 3 Qtrs
Net income ProfitLoss $39.70M USD 1 Quarter
Common Stock, Shares Authorized CommonStockSharesAuthorized 200.00M shares Point-in-time
Net income ProfitLoss $20.80M USD 1 Quarter
Net income ProfitLoss $46.80M USD 1 Quarter
Net income ProfitLoss $128.00M USD 3 Qtrs
Net income ProfitLoss $47.80M USD 1 Quarter
Net income ProfitLoss $40.50M USD 1 Quarter
Net income ProfitLoss $26.90M USD 1 Quarter
Common Stock, Shares Authorized CommonStockSharesAuthorized 200.00M shares Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 49.90M shares Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 49.76M shares Point-in-time
Depreciation and amortization DepreciationDepletionAndAmortization $2.00M USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $2.30M USD 3 Qtrs
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $-1.20M USD 3 Qtrs
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $2.80M USD 3 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments $1.10M USD 3 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments - USD 3 Qtrs
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Equity in earnings of unconsolidated ventures IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $800.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $900.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $3.40M USD 3 Qtrs
Stock-based compensation expense ShareBasedCompensation $2.80M USD 3 Qtrs
Impairments and land option charges ProductionRelatedImpairmentsOrCharges $23.60M USD 3 Qtrs
Impairments and land option charges ProductionRelatedImpairmentsOrCharges $7.00M USD 3 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 $3.20M USD 3 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $2.70M USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets1 $1.60M USD 3 Qtrs
Decrease (increase) in real estate IncreaseDecreaseInInventories $170.30M USD 3 Qtrs
Decrease (increase) in real estate IncreaseDecreaseInInventories $-87.70M USD 3 Qtrs
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $11.70M USD 3 Qtrs
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $6.70M USD 3 Qtrs
(Decrease) increase in accounts payable and other accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $29.80M USD 3 Qtrs
(Decrease) increase in accounts payable and other accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-19.60M USD 3 Qtrs
(Decrease) increase in accrued development costs IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-31.20M USD 3 Qtrs
(Decrease) increase in accrued development costs IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $6.50M USD 3 Qtrs
Decrease in earnest money deposits on sales contracts IncreaseDecreaseInContractWithCustomerLiability $-1.20M USD 3 Qtrs
Decrease in earnest money deposits on sales contracts IncreaseDecreaseInContractWithCustomerLiability $-13.40M USD 3 Qtrs
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $136.20M USD 3 Qtrs
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-10.20M USD 3 Qtrs
Expenditures for property, equipment, software and other PaymentsToAcquirePropertyPlantAndEquipment $3.20M USD 3 Qtrs
Expenditures for property, equipment, software and other PaymentsToAcquirePropertyPlantAndEquipment $800.00K USD 3 Qtrs
Return of investment in unconsolidated ventures ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital - USD 3 Qtrs
Return of investment in unconsolidated ventures ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $1.60M USD 3 Qtrs
Proceeds from sale of assets ProceedsFromSalesOfAssetsInvestingActivities $1.60M USD 3 Qtrs
Proceeds from sale of assets ProceedsFromSalesOfAssetsInvestingActivities $3.20M USD 3 Qtrs
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $800.00K USD 3 Qtrs
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $1.60M USD 3 Qtrs
Issuance of common stock ProceedsFromIssuanceOfCommonStock - USD 3 Qtrs
Issuance of common stock ProceedsFromIssuanceOfCommonStock $1.70M USD 3 Qtrs
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $800.00K USD 3 Qtrs
Cash paid for shares withheld for taxes PaymentsRelatedToTaxWithholdingForShareBasedCompensation $400.00K USD 3 Qtrs
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-800.00K USD 3 Qtrs
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.30M USD 3 Qtrs
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $136.20M USD 3 Qtrs
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-7.30M USD 3 Qtrs
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $401.00M USD Point-in-time
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $264.80M USD Point-in-time
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $153.60M USD Point-in-time
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $146.30M USD Point-in-time
Stockholders Equity 42 line items
Line Item Tag Value Unit Period
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.20B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.02B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.30B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.06B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.11B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.22B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.25B USD Point-in-time
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.15B USD Point-in-time
Net income ProfitLoss $94.50M USD 3 Qtrs
Net income ProfitLoss $39.70M USD 1 Quarter
Net income ProfitLoss $20.80M USD 1 Quarter
Net income ProfitLoss $46.80M USD 1 Quarter
Net income ProfitLoss $128.00M USD 3 Qtrs
Net income ProfitLoss $47.80M USD 1 Quarter
Net income ProfitLoss $40.50M USD 1 Quarter
Net income ProfitLoss $26.90M USD 1 Quarter
Issuance of common stock (84,547 shares) StockIssuedDuringPeriodValueNewIssues $1.70M USD 1 Quarter
Issuances of common stock, Value StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Issuances of common stock, Value StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Issuances of common stock, Value StockIssuedDuringPeriodValueShareBasedCompensation $100.00K USD 1 Quarter
Issuances of common stock, Value StockIssuedDuringPeriodValueShareBasedCompensation $100.00K USD 1 Quarter
Issuances of common stock, Value StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Issuances of common stock, Value StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $400.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $800.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.60M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.90M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $900.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $600.00K USD 1 Quarter
Cash paid for shares withheld for taxes AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $700.00K 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 $100.00K USD 1 Quarter
Cash paid for shares withheld for taxes AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $100.00K USD 1 Quarter
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.20B USD Point-in-time
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.02B USD Point-in-time
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.30B 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 $1.22B USD Point-in-time
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.25B USD Point-in-time
Ending Balances StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.15B USD Point-in-time

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

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