Exhibit 99.1
Forestar Financial Information
as presented in the Segment Information tables
in D.R. Horton’s Q2 FY 2019 press release issued 4/25/19
March 31, 2019 | September 30, 2018 | |||||||
(in millions) | ||||||||
Assets | ||||||||
Cash and cash equivalents | $ | 66.4 | $ | 318.8 | ||||
Restricted cash | 15.7 | 16.2 | ||||||
Residential land and lots-developed, under development and held for development | 851.5 | 498.0 | ||||||
Deferred income taxes, net | 22.9 | 26.9 | ||||||
Property and equipment, net | 2.4 | 1.8 | ||||||
Other assets | 26.0 | 31.4 | ||||||
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$ | 984.9 | $ | 893.1 | |||||
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Liabilities | ||||||||
Accounts payable | $ | 16.1 | $ | 11.2 | ||||
Accrued expenses and other liabilities | 131.9 | 95.7 | ||||||
Notes payable | 149.2 | 111.7 | ||||||
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$ | 297.2 | $ | 218.6 | |||||
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Three Months Ended March 31, 2019 | Three Months Ended March 31, 2018 | Six Months Ended March 31, 2019 | For the Period from October 5, 2017 to March 31, 2018 | |||||||||||||
(in millions) | ||||||||||||||||
Revenues | $ | 65.4 | $ | 22.6 | $ | 103.8 | $ | 53.5 | ||||||||
Cost of sales | 43.7 | 16.2 | 74.3 | 35.5 | ||||||||||||
Selling, general and administrative expense | 6.2 | 5.6 | 11.9 | 19.1 | ||||||||||||
Gain on sale of assets | — | (2.7 | ) | (0.9 | ) | (2.7 | ) | |||||||||
Interest expense | — | 2.1 | — | 4.2 | ||||||||||||
Other (income) expense | (0.9 | ) | (3.2 | ) | (2.8 | ) | (11.3 | ) | ||||||||
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Income before income taxes | $ | 16.4 | $ | 4.6 | $ | 21.3 | $ | 8.7 | ||||||||
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Summary Cash Flow Information: | ||||||||||||||||
Cash used in operating activities | $ | (283.4 | ) | $ | (150.2 | ) | ||||||||||
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