Forestar (FOR) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 05, 2017
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	FOR
Entity Registrant Name	FORESTAR GROUP INC.
Entity Central Index Key	1,406,587
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		41,857,512

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 337,432	$ 265,798
Real estate	289,909	293,003
Assets of discontinued operations	5	14
Assets held for sale	29,867	30,377
Investment in unconsolidated ventures	79,262	77,611
Receivables, net	18,535	8,931
Income taxes receivable	0	10,867
Prepaid expenses	2,412	2,000
Property and equipment, net	2,621	3,116
Deferred tax asset, net	294	323
Goodwill	0	37,900
Other assets	3,257	3,268
TOTAL ASSETS	763,594	733,208
LIABILITIES AND EQUITY
Accounts payable	5,615	4,804
Accrued employee compensation and benefits	1,713	4,126
Accrued property taxes	910	2,008
Accrued interest	529	1,585
Income taxes payable	4,566	0
Earnest money deposits	13,304	10,511
Other accrued expenses	7,238	12,598
Liabilities of discontinued operations	1,163	5,295
Liabilities held for sale	459	103
Other liabilities	28,986	19,702
Debt, net	111,783	110,358
TOTAL LIABILITIES	176,266	171,090
COMMITMENTS AND CONTINGENCIES
Forestar Group Inc. shareholders’ equity:
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 44,803,603 issued at first quarter-end 2017 and year-end 2016	44,804	44,804
Additional paid-in capital	549,926	553,005
Retained earnings	37,807	12,602
Treasury stock, at cost, 3,005,101 shares at first quarter-end 2017 and 3,187,253 shares at year-end 2016	(46,716)	(49,760)
Total Forestar Group Inc. shareholders’ equity	585,821	560,651
Noncontrolling interests	1,507	1,467
TOTAL EQUITY	587,328	562,118
TOTAL LIABILITIES AND EQUITY	$ 763,594	$ 733,208

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	44,803,603	44,803,603
Treasury stock, common shares (in shares)	3,005,101	3,187,253

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
REVENUES
Real estate sales and other	$ 20,752	$ 26,408
Commercial and income producing properties	0	9,690
Real estate	20,752	36,098
Mineral resources	1,497	1,082
Other	56	438
Total revenues	22,305	37,618
COSTS AND EXPENSES
Cost of real estate sales and other	(12,032)	(13,262)
Cost of commercial and income producing properties	11	(5,162)
Cost of mineral resources	(38,315)	(230)
Cost of other	(301)	(385)
Other operating expenses	(4,957)	(12,091)
General and administrative	(4,691)	(6,479)
Total expenses	(60,285)	(37,609)
GAIN ON SALE OF ASSETS	74,215	13,581
OPERATING INCOME	36,235	13,590
Equity in earnings of unconsolidated ventures	6,362	47
Interest expense	(2,235)	(7,639)
Other non-operating income	676	74
INCOME FROM CONTINUING OPERATIONS BEFORE TAXES	41,038	6,072
Income tax expense	(16,211)	(2,152)
NET INCOME FROM CONTINUING OPERATIONS	24,827	3,920
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAXES	418	(8,216)
CONSOLIDATED NET INCOME (LOSS)	25,245	(4,296)
Less: Net (income) loss attributable to noncontrolling interests	(40)	(80)
NET INCOME (LOSS) ATTRIBUTABLE TO FORESTAR GROUP INC.	$ 25,205	$ (4,376)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	42,097	34,302
Diluted (in shares)	42,406	42,320
NET INCOME (LOSS) PER BASIC SHARE
Continuing operations, basic (usd per share)	$ 0.59	$ 0.11
Discontinued operations, basic (usd per share)	0.01	(0.24)
NET INCOME (LOSS) PER BASIC SHARE (usd per share)	0.60	(0.13)
NET INCOME (LOSS) PER DILUTED SHARE
Continuing operations, diluted (usd per share)	0.58	0.09
Discontinued operation, diluted (usd per share)	0.01	(0.19)
NET INCOME (LOSS) PER DILUTED SHARE (usd per share)	$ 0.59	$ (0.10)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ 25,205	$ (4,376)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income (loss)	$ 25,245	$ (4,296)
Adjustments:
Depreciation, depletion and amortization	1,485	4,785
Change in deferred income taxes	29	0
Equity in earnings of unconsolidated ventures	(6,362)	(47)
Distributions of earnings of unconsolidated ventures	4,974	1,304
Share-based compensation	843	1,380
Real estate cost of sales	12,240	12,841
Real estate development and acquisition expenditures, net	(13,740)	(14,794)
Reimbursements from utility and improvement districts	1,180	306
Asset impairments	37,900	0
Gain on sale of assets	(74,215)	(2,604)
Other	945	1,820
Changes in:
Notes and accounts receivable	(1,925)	13,979
Prepaid expenses and other	(647)	(660)
Accounts payable and other accrued liabilities	(5,764)	(6,702)
Income taxes	15,433	(2,303)
Net cash provided by (used for) operating activities	(2,379)	5,009
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, equipment, software, reforestation and other	(17)	(3,501)
Oil and gas properties and equipment	(2,400)	(426)
Investment in unconsolidated ventures	(1,915)	(3,019)
Proceeds from sales of assets	77,510	56,828
Return of investment in unconsolidated ventures	1,511	1,567
Net cash provided by investing activities	74,689	51,449
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of debt	0	(11,185)
Additions to debt	304	1,307
Distributions to noncontrolling interests, net	0	(171)
Payroll taxes on issuance of stock-based awards	(980)	(205)
Net cash used for financing activities	(676)	(10,254)
Net increase in cash and cash equivalents	71,634	46,204
Cash and cash equivalents at beginning of period	265,798	96,442
Cash and cash equivalents at end of period	$ 337,432	$ 142,646

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our consolidated financial statements include the accounts of Forestar Group Inc., all subsidiaries, ventures and other entities in which we have a controlling interest. We account for our investment in other entities in which we have significant influence over operations and financial policies using the equity method. We eliminate all material intercompany accounts and transactions. Noncontrolling interests in consolidated pass-through entities are recognized before income taxes. We prepare our unaudited interim financial statements in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and Securities and Exchange Commission requirements for interim financial statements. As a result, they do not include all the information and disclosures required for complete financial statements. However, in our opinion, all adjustments considered necessary for a fair presentation have been included. Such adjustments consist only of normal recurring items unless otherwise noted. We make estimates and assumptions about future events. Actual results can, and probably will, differ from those we currently estimate including those principally related to allocating costs to real estate and measuring long-lived assets for impairment. These interim operating results are not necessarily indicative of the results that may be expected for the entire year. For further information, please read the financial statements included in our 2016 Annual Report on Form 10-K. At year-end 2016, we had divested substantially all of our oil and gas working interest properties. As a result of this significant change in our operations, we have reported the results of operations and financial position of these assets as discontinued operations within the consolidated statements of income (loss) and comprehensive income (loss) and consolidated balance sheets for all periods presented.

New and Pending Accounting Pron

New and Pending Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
New and Pending Accounting Pronouncements	New and Pending Accounting Pronouncements Adoption of New Accounting Standards In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , as part of its simplification initiative. The areas for simplification in this update involve several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and the classification on the statement of cash flows. The updated standard is effective for annual and interim periods beginning after December 31, 2016. Effective first quarter 2017, stock-based compensation (SBC) excess tax benefits or deficiencies are reflected in the consolidated statements of income (loss) and comprehensive income (loss) as a component of the provision for income taxes, whereas they previously were recognized in equity to the extent additional paid-in capital pool was available. Additionally, our consolidated statements of cash flows now presents excess tax benefits as an operating activity, with the prior periods adjusted accordingly. Finally, we have elected to account for forfeitures as they occur, rather than estimate expected forfeitures. As a result of the adoption of ASU 2016-09 in first quarter 2017, there were no material impacts to our consolidated financial statements. Pending Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. Early adoption is not permitted. The updated standard becomes effective for annual and interim periods beginning after December 15, 2017. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). We currently anticipate adopting the standard using the cumulative catch-up transition method. We anticipate this standard will not have a material impact on our consolidated financial statements. While we are continuing to assess all potential impacts of the standard, we expect revenue related to lot and tract sales to remain substantially unchanged. Due to the complexity of certain of our real estate sale transactions, the revenue recognition treatment required under the standard will be dependent on contract-specific terms, and may vary in some instances from recognition at the time of the sale closing. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , in order to provide increased transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The updated standard is effective for financial statements issued for annual periods beginning after December 15, 2019 and interim periods within fiscal years beginning after December 31, 2020 with early adoption permitted. We are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) , in order to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The updated standard is effective for financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those fiscal years with early adoption permitted. We are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures. In November, 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230). This ASU requires that a statement of cash flow explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash investments. This standard is effective for fiscal years beginning after December 15, 2017. The adoption of ASU 2016-18 will modify our current disclosures and reclassifications relating to the consolidated statements of cash flows, but we do not expect it to have a material effect on our consolidated financial statements.

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2017
Real Estate [Abstract]
Real Estate	Real Estate Real estate consists of: First Year-End 2017 2016 (In thousands) Entitled, developed and under development projects $ 260,459 $ 263,859 Land in the entitlement process and other 29,450 29,144 $ 289,909 $ 293,003 Our estimated costs of assets for which we expect to be reimbursed by utility and improvement districts were $46,660,000 at first quarter-end 2017 and $45,157,000 at year-end 2016 , including $15,344,000 at first quarter-end 2017 and $14,749,000 at year-end 2016 related to our Cibolo Canyons project near San Antonio, Texas. In first quarter 2017 , we have collected $1,180,000 in reimbursements that were previously submitted to these districts. At first quarter-end 2017 , our inception-to-date submitted and approved reimbursements for the Cibolo Canyons project were $54,376,000 of which we have collected $45,132,000 . These costs are principally for water, sewer and other infrastructure assets that we have incurred and submitted or will submit to utility or improvement districts for approval and reimbursement. We expect to be reimbursed by utility and improvement districts when these districts achieve adequate tax basis or otherwise have funds available to support payment.

Investment in Unconsolidated Ve

Investment in Unconsolidated Ventures	3 Months Ended
	Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Ventures	Investment in Unconsolidated Ventures We participate in real estate ventures for the purpose of acquiring and developing residential, multifamily and mixed-use communities in which we may or may not have a controlling financial interest. U.S. GAAP requires consolidation of Variable Interest Entities (VIEs) in which an enterprise has a controlling financial interest and is the primary beneficiary. A controlling financial interest will have both of the following characteristics: (a) the power to direct the VIE activities that most significantly impact economic performance; and (b) the obligation to absorb the VIE losses and right to receive benefits that are significant to the VIE. We examine specific criteria and use judgment when determining whether a venture is a VIE and whether we are the primary beneficiary and must consolidate a VIE. We perform this review initially at the time we enter into venture agreements and reassess upon reconsideration events. At first quarter-end 2017 , we had ownership interests in 16 ventures that we accounted for using the equity method, no ne of which are a VIE. Combined summarized balance sheet information for our ventures accounted for using the equity method follows: Venture Assets Venture Borrowings (a) Venture Equity Our Investment First Year-End First Year-End First Year-End First Year-End 2017 2016 2017 2016 2017 2016 2017 2016 (In thousands) 242, LLC (b) $ 23,530 $ 26,503 $ — $ 1,107 $ 22,905 $ 23,136 $ 10,904 $ 10,934 CL Ashton Woods, LP (c) 3,064 2,653 — — 2,948 2,198 2,067 1,107 CL Realty, LLC 8,056 8,048 — — 7,964 7,899 3,982 3,950 CREA FMF Nashville LLC (b) 54,071 56,081 36,018 37,446 17,470 17,091 4,894 4,923 Elan 99, LLC 49,539 49,652 36,391 36,238 12,447 13,100 11,202 11,790 FMF Littleton LLC 70,434 70,282 45,744 44,446 23,634 23,798 6,086 6,128 FMF Peakview LLC — — — — — — — — FOR/SR Forsyth LLC 10,794 10,672 1,569 1,568 9,233 8,990 8,310 8,091 HM Stonewall Estates, Ltd (c) 1,184 852 — — 1,096 852 579 477 LM Land Holdings, LP (c) 26,424 25,538 3,851 3,477 21,573 20,945 9,900 9,685 MRECV DT Holdings LLC 4,318 4,155 — — 4,318 4,144 3,886 3,729 MRECV Edelweiss LLC 5,276 3,484 — — 5,276 3,484 5,027 3,358 MRECV Juniper Ridge LLC 4,169 4,156 — — 4,169 4,156 3,428 3,741 MRECV Meadow Crossing II LLC 2,615 2,492 — — 2,614 2,491 2,352 2,242 Miramonte Boulder Pass, LLC 9,333 10,738 3,126 4,006 4,710 5,265 4,505 5,330 Temco Associates, LLC 4,387 4,368 — — 4,280 4,253 2,140 2,126 Other ventures — — — — — — — — $ 277,194 $ 279,674 $ 126,699 $ 128,288 $ 144,637 $ 141,802 $ 79,262 $ 77,611 Combined summarized income statement information for our ventures accounted for using the equity method follows: Venture Revenues Venture Earnings (Loss) Our Share of Earnings (Loss) First Quarter First Quarter First Quarter 2017 2016 2017 2016 2017 2016 (In thousands) 242, LLC (b) $ 12,738 $ — $ 8,465 $ (300 ) $ 4,318 $ (150 ) CL Ashton Woods, LP (c) 1,782 696 750 367 959 439 CL Realty, LLC 199 133 2,465 47 1,232 23 CREA FMF Nashville LLC (b) 1,405 901 (170 ) (571 ) (54 ) (171 ) Elan 99, LLC 902 20 (653 ) (410 ) (588 ) (369 ) FMF Littleton LLC 1,415 321 (165 ) (170 ) (41 ) (42 ) FMF Peakview LLC — 939 — (248 ) — (50 ) FOR/SR Forsyth LLC — — (32 ) — (28 ) — HM Stonewall Estates, Ltd (c) 496 546 243 220 103 103 LM Land Holdings, LP (c) 1,053 1,000 628 640 215 144 MRECV DT Holdings LLC 301 98 299 98 269 88 MRECV Edelweiss LLC 185 87 185 87 166 78 MRECV Juniper Ridge LLC 13 3 13 3 12 3 MRECV Meadow Crossing II LLC 122 — 122 (34 ) 110 (31 ) Miramonte Boulder Pass, LLC 1,642 — 44 (125 ) (325 ) (62 ) Temco Associates, LLC 48 99 27 67 14 34 Other ventures — — — 26 — 10 $ 22,301 $ 4,843 $ 12,221 $ (303 ) $ 6,362 $ 47 _____________________ (a) Total includes current maturities of $125,498,000 at first quarter-end 2017 , of which $108,675,000 is non-recourse to us, and $89,756,000 at year-end 2016 , of which $78,557,000 is non-recourse to us. (b) Includes unamortized deferred gains on real estate we contributed to ventures. We recognize deferred gains as income as the real estate is sold to third parties. Deferred gains of $1,372,000 are reflected as a reduction to our investment in unconsolidated ventures at first quarter-end 2017 . (c) Includes unrecognized basis difference of $578,000 which is reflected as an increase of our investment in unconsolidated ventures at first quarter-end 2017 . The difference will be accreted as income or expense over the life of the investment and included in our share of earnings (loss) from the respective ventures. In first quarter 2017 , we invested $1,915,000 in these ventures and received $6,485,000 in distributions. In first quarter 2016 , we invested $3,019,000 in these ventures and received $2,871,000 in distributions. Distributions include both return of investments and distribution of earnings. The increase in our share of earnings and distributions from these ventures in first quarter 2017 is primarily due to higher earnings from 242, LLC which benefited from the sale of 46 commercial acres for $9,719,000 generating $6,612,000 in earnings to the venture. Based on our 50% interest in the venture, our pro-rata share of the earnings associated with this sale was $3,306,000 and our pro-rata share of the total distributable cash was $4,348,000 . In addition, CL Realty, LLC, a venture in which we own a 50% interest, sold certain mineral assets to us for $2,400,000 . Subsequent to closing of this transaction, we received $1,200,000 from the venture, representing our pro-rata share of distributable cash. In first quarter 2016, we sold our interest in FMF Peakview LLC (360 0 ), a 304 -unit multifamily joint venture project near Denver, generating $13,167,000 in net proceeds and recognizing a gain of $9,613,000 which is included in gain on sale of assets.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Carrying value of goodwill follows: First Year-End 2017 2016 (In thousands) Goodwill $ — $ 37,900 Goodwill related to our owned mineral assets was $0 at first quarter-end 2017 and $37,900,000 at year-end 2016 . In first quarter 2017, we recognized a non-cash impairment charge of $37,900,000 related to goodwill attributable to our mineral resources reporting unit. This impairment was a result of selling all of our remaining owned mineral assets in first quarter 2017 for approximately $85,700,000 . Impairment charge is included in cost of mineral resources on our consolidated statements of income (loss) and comprehensive income (loss). In addition, we recognized $74,215,000 in total gains related to the sale of our mineral assets and recorded a deferred gain of $8,200,000 pending verification of accepted title of certain non-producing minerals in Texas and Louisiana.

Held for Sale

Held for Sale	3 Months Ended
	Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Held for Sale	Held for Sale At first quarter-end 2017 , assets held for sale principally includes approximately 19,000 acres of timberland and undeveloped land and the related timber, a multifamily site in Austin, and central Texas groundwater assets. The major classes of assets and liabilities of the properties held for sale are as follows: First Year-End 2017 2016 (In thousands) Assets Held for Sale: Real estate $ 20,070 $ 19,931 Timber 1,666 1,682 Other intangible assets (a) 1,681 1,681 Oil and gas properties and equipment, net 149 782 Property and equipment, net (b) 6,301 6,301 $ 29,867 $ 30,377 Liabilities Held for Sale: Accrued interest 44 — Earnest money deposits 415 — Other liabilities — 103 $ 459 $ 103 ___________________ (a) Related to indefinite lived groundwater leases associated with our central Texas water assets. (b) Related to water wells associated with our central Texas water assets.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations At year-end 2016, we had divested substantially all of our oil and gas working interest properties. As a result of this significant change in our operations, we have reported the results of operations and financial position of these assets as discontinued operations within the consolidated statements of income (loss) and comprehensive income (loss) and consolidated balance sheets for all periods presented. Summarized results from discontinued operations were as follows: First Quarter 2017 2016 (In thousands) Revenues $ 9 $ 4,270 Cost of sales (6 ) (4,964 ) Other operating expenses (54 ) (1,323 ) Loss from discontinued operations before income taxes $ (51 ) $ (2,017 ) Loss on sale of assets before income taxes — (10,977 ) Income tax benefit 469 4,778 Income (loss) from discontinued operations, net of taxes $ 418 $ (8,216 ) In first quarter 2016, we recorded a net loss of $10,977,000 on the sale of 190,960 net mineral acres leased from others and 185 gross ( 66 net) producing oil and gas working interest wells in Nebraska, Kansas, Oklahoma and North Dakota for total net proceeds of $32,227,000 , which includes $3,269,000 in reimbursement of capital costs incurred on in-progress wells that were assumed by the buyer. A significant portion of the net loss on sale, $7,244,000 , is related to write-off of allocated goodwill to sold producing oil and gas properties. The major classes of assets and liabilities of discontinued operations at first quarter-end 2017 and year-end 2016 are as follows: First Year-End 2017 2016 (In thousands) Assets of Discontinued Operations: Receivables, net of allowance for bad debt $ 5 $ 6 Prepaid expenses — 8 $ 5 $ 14 Liabilities of Discontinued Operations: Accounts payable $ — $ 67 Other accrued expenses 1,163 5,228 $ 1,163 $ 5,295 Significant operating activities and investing activities of discontinued operations are as follows: First Quarter 2017 2016 (In thousands) Operating activities: Accounts payable and other accrued liabilities (3,000 ) — Loss on sale of assets — 10,977 Depreciation, depletion and amortization — 1,809 $ (3,000 ) $ 12,786 Investing activities: Oil and gas properties and equipment $ — $ (426 ) Proceeds from sales of assets — 28,958 $ — $ 28,532

Receivables

Receivables	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Receivables	Receivables Receivables consist of: First Year-End 2017 2016 (In thousands) Funds held by escrow agent related to owned mineral assets sold, net of adjustments $ 7,689 $ — Other receivables and accrued interest 1,466 1,505 Other loans secured by real estate, average interest rates of 4.85% at first quarter-end 2017 and 4.94% at year-end 2016 9,406 7,452 18,561 8,957 Allowance for bad debts (26 ) (26 ) $ 18,535 $ 8,931 Other loans secured by real estate generally are secured by a deed of trust and due within three to five years.

Equity

Equity	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Equity	Equity A reconciliation of changes in equity at first quarter-end 2017 follows: Forestar Group Inc. Noncontrolling Interests Total (In thousands) Balance at year-end 2016 $ 560,651 $ 1,467 $ 562,118 Net income 25,205 40 25,245 Other (primarily share-based compensation) (35 ) — (35 ) $ 585,821 $ 1,507 $ 587,328

Debt, net

Debt, net	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt, net	Debt, net Debt (a) consists of: First Year-End 2017 2016 (In thousands) 8.50% senior secured notes due 2022, net $ 5,205 $ 5,200 3.75% convertible senior notes due 2020, net of discount 105,787 104,673 Other indebtedness — interest rates ranging from 5.0% to 5.50% 791 485 $ 111,783 $ 110,358 ___________________ (a) At first quarter-end 2017 and year-end 2016 , $1,513,000 and $1,633,000 of unamortized deferred financing fees are deducted from our outstanding debt. Our debt agreements contain financial covenants customary for such agreements including minimum levels of interest coverage and limitations on leverage. At first quarter-end 2017 , we were in compliance with the financial covenants of these agreements. At first quarter-end 2017 , our senior secured credit facility provides for a $125,000,000 revolving line of credit, which matures on May 15, 2017 (with two one -year extension options), none of which was drawn at first quarter-end 2017 . The revolving line of credit may be prepaid at any time without penalty. The revolving line of credit includes a $100,000,000 sublimit for letters of credit, of which $14,543,000 was outstanding at first quarter-end 2017 . Total borrowings under our senior secured credit facility (including the face amount of letters of credit) may not exceed a borrowing base formula. At first quarter-end 2017 , we had $53,665,000 in net unused borrowing capacity under our senior secured credit facility. Under the terms of our senior secured credit facility, at our option we can borrow at LIBOR plus 4.0 percent or at the alternate base rate plus 3.0 percent . The alternate base rate is the highest of (i) KeyBank National Association’s base rate, (ii) the federal funds effective rate plus 0.5 percent or (iii) 30 day LIBOR plus 1 percent . Borrowings under the senior secured credit facility are or may be secured by (a) mortgages on the timberland, high value timberland and portions of raw entitled land, as well as pledges of other rights including certain oil and gas operating properties, (b) assignments of current and future leases, rents and contracts, (c) a security interest in our primary operating account, (d) a pledge of the equity interests in current and future material operating subsidiaries and most of our majority-owned joint venture interests, or if such pledge is not permitted, a pledge of the right to distributions from such entities, and (e) a pledge of certain reimbursements payable to us from special improvement district tax collections in connection with our Cibolo Canyons project. The senior secured credit facility provides for releases of real estate and other collateral provided that borrowing base compliance is maintained. Our debt agreements contain financial covenants customary for such agreements including minimum levels of interest coverage and limitations on leverage. At first quarter-end 2017, our tangible net worth requirement was $445,215,000 computed as: $379,044,000 plus 85 percent of the aggregate net proceeds received by us from any equity offering, plus 75 percent of all positive net income, on a cumulative basis since third quarter-end 2015. The tangible net worth requirement is recalculated on a quarterly basis. We may elect to make distributions to stockholders so long as the total leverage ratio is less than 40 percent , the interest coverage ratio is greater than 3.0 :1.0 and available liquidity is not less than $125,000,000 , all of which were satisfied at first quarter-end 2017. Regardless of whether the foregoing conditions are satisfied, we may make distributions in an aggregate amount not to exceed $50,000,000 to be funded from up to 65% of the net proceeds from sales of multifamily properties and non-core assets, such as the Radisson Hotel & Suites in Austin, and any oil and gas properties. At first quarter-end 2017 and year-end 2016 , we had $1,513,000 and $1,633,000 in unamortized deferred financing fees which were deducted from our debt. In addition, at first quarter-end 2017 and year-end 2016 , unamortized deferred financing fees related to our senior secured credit facility included in other assets were $105,000 and $314,000 . Amortization of deferred financing fees were $330,000 and $927,000 in first quarter 2017 and 2016 and were included in interest expense.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair value is the exchange price that would be the amount received for an asset or paid to transfer a liability in an orderly transaction between market participants. In arriving at a fair value measurement, we use a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable. The three levels of inputs used to establish fair value are the following: • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Non-financial assets measured at fair value on a non-recurring basis principally include real estate assets, oil and gas properties, assets held for sale, goodwill and other intangible assets, which are measured for impairment. In first quarter 2017, we recognized a non-cash impairment charge of $37,900,000 related to goodwill attributable to our mineral resources reporting unit. The impairment was a result of selling all of our remaining owned mineral assets in first quarter 2017 for approximately $85,700,000 . We elected not to use the fair value option for cash and cash equivalents, accounts receivable, other current assets, variable debt, accounts payable and other current liabilities. The carrying amounts of these financial instruments approximate their fair values due to their short-term nature or variable interest rates. We determine the fair value of fixed rate financial instruments using quoted prices for similar instruments in active markets. Information about our fixed rate financial instruments not measured at fair value follows: First Quarter-End 2017 Year-End 2016 Carrying Amount Fair Value Carrying Amount Fair Value Valuation Technique (In thousands) Fixed rate debt $ (112,505 ) $ (112,116 ) $ (111,506 ) $ (109,789 ) Level 2

Net Income (Loss) per Share

Net Income (Loss) per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net Income (Loss) per Share Basic and diluted earnings per share is computed using treasury stock method for first quarter 2017 and two-class method for first quarter 2016. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security. We previously determined that our 6.00% tangible equity units issued in 2013 were participating securities. In December 2016, we issued 7,857,000 shares of our common stock upon the mandatory settlement of the stock purchase contract related to the 6.00% tangible equity units. Per share amounts are computed by dividing earnings available to common shareholders by the weighted average shares outstanding during each period. In periods with a net loss, no such adjustment is made to earnings as the holders of the participating securities have no obligation to fund losses. The computations of basic and diluted earnings per share are as follows: First Quarter 2017 2016 (In thousands) Numerator: Continuing operations Net income from continuing operations $ 24,827 $ 3,920 Less: Net (income) loss attributable to noncontrolling interest (40 ) (80 ) Earnings available for diluted earnings per share $ 24,787 $ 3,840 Less: Undistributed net income from continuing operations allocated to participating securities — — Earnings from continuing operations available to common shareholders for basic earnings per share $ 24,787 $ 3,840 Discontinued operations Net income (loss) from discontinued operations available for diluted earnings per share $ 418 $ (8,216 ) Less: Undistributed net income from discontinued operations allocated to participating securities — — Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share $ 418 $ (8,216 ) Denominator: Weighted average common shares outstanding — basic 42,097 34,302 Weighted average common shares upon conversion of participating securities — 7,857 Dilutive effect of stock options, restricted stock and equity-settled awards 309 161 Total weighted average shares outstanding — diluted 42,406 42,320 Anti-dilutive awards excluded from diluted weighted average shares 1,808 2,450 We intend to settle the remaining principal amount of our 3.75% convertible senior notes due 2020 (Convertible Notes) in cash upon conversion with only the amount in excess of par value of the Convertible Notes to be settled in shares of our common stock. Therefore, our calculation of diluted net income per share includes only the amount, if any, in excess of par value of the Convertible Notes. As such, the Convertible Notes have no impact on diluted net income per share until the price of our common stock exceeds the $24.49 conversion price of the Convertible Notes. The average price of our common stock in first quarter 2017 did not exceed the conversion price which resulted in no additional diluted outstanding shares.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate from continuing operations was 40 percent in first quarter 2017, which includes a nine percent benefit from a valuation allowance decrease due to a decrease in our deferred tax assets and an 11 percent detriment associated with a non-cash impairment related to goodwill associated with our owned mineral assets which were sold in first quarter 2017. Our effective tax rate from continuing operations was 35 percent in first quarter 2016. Our effective tax rates also include the effect of state income taxes, nondeductible items and benefits from noncontrolling interests. At first quarter-end 2017 and year-end 2016 , we have a valuation allowance for our deferred tax assets of $68,944,000 and $73,405,000 for the portion of the deferred tax assets that we have determined is more likely than not to be unrealizable under U.S. GAAP. In determining our valuation allowance, we assessed available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets under U.S. GAAP. A significant piece of objective evidence evaluated was the cumulative loss incurred over the three-year period ended March 31, 2017, principally driven by impairments of oil and gas and real estate properties in prior years. Such evidence limits our ability to consider other subjective evidence, such as our projected future taxable income. The amount of the deferred tax asset considered realizable could be adjusted if negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence, such as our projected future taxable income. Our unrecognized tax benefits totaled $811,000 at first quarter-end 2017 , all of which would affect our effective tax rate, if recognized.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation We are involved in various legal proceedings that arise from time to time in the ordinary course of doing business, and we believe that adequate reserves have been established for any probable losses. We do not believe that the outcome of any of these proceedings should have a significant adverse effect on our financial position, long-term results of operations or cash flows. However, it is possible that charges related to these matters could be significant to our results or cash flows in any one accounting period. On October 4, 2014, James Huffman, a former director and CEO of CREDO Petroleum Corporation (Credo), which we acquired in 2012 and is now known as Forestar Petroleum Corporation, filed Huffman vs. Forestar Petroleum Corporation, Case Number 14CV33811, Civ. Div., Dist. Ct., City and County of Denver, Colorado, claiming entitlement to certain overriding royalty interests under a Credo compensation program. The case was settled for $3,000,000 in first quarter 2017. Environmental Environmental remediation liabilities arise from time to time in the ordinary course of doing business, and we believe we have established adequate reserves for any probable losses that can be reasonably estimated. We have asset retirement obligations related to the abandonment and site restoration requirements that result from the acquisition, construction and development of oil and gas properties. We record the fair value of a liability for an asset retirement obligation in the period in which it is incurred and a corresponding increase in the carrying amount of the related long-lived asset. Accretion expense related to the asset retirement obligation and depletion expense related to capitalized asset retirement cost is included in cost of oil and gas producing activities of discontinued operations. At first quarter-end 2017 and year-end 2016 , our estimated asset retirement obligation was $1,155,000 and $1,258,000 , of which $1,155,000 is included in liabilities of discontinued operations and the remaining balance at year-end 2016 was in liabilities held for sale.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information We manage our operations through three segments: real estate, mineral resources and other. Real estate secures entitlements and develops infrastructure on our lands for single-family residential and mixed-use communities, and manages our undeveloped land and commercial and income producing properties, which consists of three multifamily projects and one site. Mineral resources manages our owned mineral interests. Other manages our timber, recreational leases and water resource initiatives. Total assets allocated by segment are as follows: First Year-End 2017 2016 (In thousands) Real estate $ 404,322 $ 403,062 Mineral resources 7,921 38,907 Other 11,509 11,531 Assets of discontinued operations 5 14 Assets not allocated to segments (a) 339,837 279,694 $ 763,594 $ 733,208 _________________________ (a) Assets not allocated to segments at first quarter-end 2017 principally consist of cash and cash equivalents of $337,432,000 . Assets not allocated to segments at year-end 2016 principally consist of cash and cash equivalents of $265,798,000 and an income tax receivable of $10,867,000 . We evaluate performance based on segment earnings (loss) before unallocated items and income taxes. Segment earnings (loss) consist of operating income, equity in earnings (loss) of unconsolidated ventures, gain on sales of assets, interest income on loans secured by real estate and net (income) loss attributable to noncontrolling interests. Items not allocated to our business segments consist of general and administrative expense, share-based and long-term incentive compensation, gain on sale of strategic timberland and undeveloped land, interest expense and other corporate non-operating income and expense. The accounting policies of the segments are the same as those described in Note 1—Basis of Presentation . Our revenues are derived from U.S. operations and all of our assets are located in the U.S. Segment revenues and earnings are as follows: First Quarter 2017 2016 (In thousands) Revenues: Real estate $ 20,752 $ 36,098 Mineral resources 1,497 1,082 Other 56 438 Total revenues $ 22,305 $ 37,618 Segment earnings (loss): Real estate $ 10,473 $ 20,224 Mineral resources 37,816 553 Other (387 ) (581 ) Total segment earnings 47,902 20,196 Items not allocated to segments (a) (6,904 ) (14,204 ) Income (loss) from continuing operations before taxes attributable to Forestar Group Inc. $ 40,998 $ 5,992 _________________________ (a) Items not allocated to segments consist of: First Quarter 2017 2016 (In thousands) General and administrative expense $ (4,028 ) $ (4,973 ) Shared-based and long-term incentive compensation expense (895 ) (1,544 ) Interest expense (2,235 ) (7,639 ) Other corporate non-operating income 254 (48 ) $ (6,904 ) $ (14,204 )

Share-Based and Long-Term Incen

Share-Based and Long-Term Incentive Compensation	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation and Long-Term Incentive Compensation	Share-Based and Long-Term Incentive Compensation Share-based and long-term incentive compensation expense consists of: First Quarter 2017 2016 (In thousands) Cash-settled awards $ 87 $ 619 Equity-settled awards 618 479 Restricted stock — 6 Stock options 138 276 Total share-based compensation 843 1,380 Deferred cash 52 164 $ 895 $ 1,544 Share-based and long-term incentive compensation expense is included in: First Quarter 2017 2016 (In thousands) General and administrative expense $ 663 $ 1,506 Other operating expense 232 38 $ 895 $ 1,544 Share-Based Compensation We did not grant any new equity-settled or cash-settled awards to employees in first quarter 2017 . In first quarter 2017 , we granted 49,225 restricted stock units to our board of directors, of which 34,746 were annual restricted stock units which vest 25 percent at grant date and 25 percent at each subsequent quarterly board meeting. Expense associated with annual restricted stock units is included in share-based compensation expense. Excluded from share-based compensation expense in the table above are fees earned by our board of directors in the amount of $188,000 and $265,000 in first quarter of 2017 and 2016 for which they elected to defer payment until retirement in the form of share-settled units. These expenses are included in general and administrative expense. The fair value of awards granted to retirement eligible employees expensed at the date of grant was $600,000 in first quarter 2016 . Unrecognized share-based compensation expense related to non-vested equity-settled awards, restricted stock and stock options is $1,421,000 at first quarter-end 2017 . In first quarter 2017 and 2016 , we issued 182,152 and 165,167 shares out of our treasury stock associated with vesting of stock-based awards or exercise of stock options, net of 75,870 and 23,691 shares withheld having a value of $980,000 and $205,000 for payroll taxes in connection with vesting of stock-based awards or exercise of stock options. Long-Term Incentive Compensation We did not grant any long-term incentive compensation to employees in first quarter 2017 . In first quarter 2016 and 2015 , we granted $620,000 and $587,000 of long-term incentive compensation in the form of deferred cash compensation. The 2016 deferred cash awards vest annually over two years, and the 2015 deferred cash awards vest after three years. The awards provide for accelerated vesting upon retirement, disability, death, or if there is a change in control. Expense associated with deferred cash awards is recognized ratably over the vesting period. The accrued liability was $296,000 and $539,000 at first quarter-end 2017 and year-end 2016 and is included in other liabilities.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2017
Subsequent Event [Abstract]
Subsequent Event	Subsequent Events On April 13, 2017, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Terra Firma Merger Parent, L.P. (“Parent”), and Terra Firma Merger Sub, L.P. a wholly owned subsidiary of Parent (“Merger Sub”), both of which are affiliates of Starwood Capital Group. The Merger Agreement provides that, among other things and in accordance with the terms and subject to the conditions thereof, we will be merged with and into Merger Sub (the “Merger”) with Merger Sub continuing as the surviving entity. As a result of the Merger, we will become a wholly-owned subsidiary of Parent. At the effective time of the Merger, each share of our common stock, par value $1.00 per share, issued and outstanding immediately prior to the effective time (other than shares owned by (i) us as treasury stock or by us or Parent or any direct or indirect wholly-owned subsidiary of either (which will be canceled without any conversion), or (ii) stockholders who have properly exercised and perfected appraisal rights under Delaware law) will be converted into the right to receive $14.25 per share in cash, without interest. Subject to the terms of the Merger Agreement, at the effective time of the Merger, each equity award made or otherwise denominated in shares of our common stock that is outstanding immediately prior to the effective time of the Merger under our benefit plans will be canceled and of no further force or effect as of the effective time of the Merger. In exchange for the cancellation of such equity award, the holder of such equity award will receive the per share merger consideration ($14.25) for each share of our common stock underlying such equity award (plus payment of cash of all accrued dividend equivalents, if any, with respect to such equity awards and, in the case of equity awards that are stock options or stock appreciation rights, less the aggregate exercise or strike price thereunder, but not less than $0), whether or not otherwise vested as of the effective time of the Merger. With respect to any such equity awards that vest upon the achievement of performance-based metrics, the number of shares of our common stock subject to such equity awards shall be determined pursuant to the terms set forth in the applicable award agreements. The Merger Agreement contains specified termination rights for us and Parent, including a mutual termination right in the event that the Merger is not consummated by October 10, 2017 (the “Outside Date”). We must pay Parent a $20,000,000 termination fee if Parent terminates the Merger Agreement following a change of recommendation, or failure to reaffirm the recommendation, of the Merger by our board of directors, or if we terminate the Merger Agreement to enter into a definitive agreement with a third party with respect to a superior proposal, as set forth in, and subject to the conditions of, the Merger Agreement. Under certain additional circumstances described in the Merger Agreement, we must also pay Parent a $20,000,000 termination fee if the Merger Agreement is terminated in certain specified circumstances while an alternative acquisition proposal to the Merger has been publicly made or communicated to our board of directors and not withdrawn and, within twelve months following such termination, we enter into a definitive agreement with respect to a business combination transaction of the type described in the relevant provisions of the Merger Agreement, or such a transaction is consummated. The Merger Agreement further provides that, upon termination of the Merger Agreement (i) in the event our stockholders do not approve the Merger, (ii) by Parent in certain circumstances involving a material breach by us of any of our representations, warranties or covenants under the Merger Agreement, or (iii) at the Outside Date as a result of the failure of the condition to the Merger that we shall have consummated certain divestiture transactions or received a minimum amount of proceeds with respect thereto, we will be required to pay to Parent up to $4,000,000 (with respect to clauses (i) and (ii)) or $3,000,000 (with respect to clause (iii)) for expenses incurred by Parent (with such payment credited to any termination fee subsequently paid by us). In the event the Merger Agreement is terminated by us in certain circumstances involving a material breach by Parent or Merger Sub of any of its representations, warranties or covenants under the Merger Agreement or if Parent fails to consummate the closing within two business days of the date the closing should have occurred under the Merger Agreement, Parent is required to pay us a $40,000,000 termination fee. The Merger has been unanimously approved by our board of directors. Closing of the transaction is subject to the approval of our shareholders and certain other closing conditions and is expected to close in the third quarter of 2017. On April 26, 2017, we sold approximately 11,000 acres of timberland and undeveloped land, including the associated mitigation banking assets, in Georgia for $20,000,000 generating an estimated gain on sale of assets of approximately $8,600,000 . On May 8, 2017, we sold approximately 4,400 acres of timberland and undeveloped land, including the associated water rights, in Texas for $16,000,000 generating an estimated gain on sale of assets of approximately $12,000,000 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Our consolidated financial statements include the accounts of Forestar Group Inc., all subsidiaries, ventures and other entities in which we have a controlling interest. We account for our investment in other entities in which we have significant influence over operations and financial policies using the equity method. We eliminate all material intercompany accounts and transactions. Noncontrolling interests in consolidated pass-through entities are recognized before income taxes. We prepare our unaudited interim financial statements in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and Securities and Exchange Commission requirements for interim financial statements. As a result, they do not include all the information and disclosures required for complete financial statements. However, in our opinion, all adjustments considered necessary for a fair presentation have been included. Such adjustments consist only of normal recurring items unless otherwise noted. We make estimates and assumptions about future events. Actual results can, and probably will, differ from those we currently estimate including those principally related to allocating costs to real estate and measuring long-lived assets for impairment. These interim operating results are not necessarily indicative of the results that may be expected for the entire year. For further information, please read the financial statements included in our 2016 Annual Report on Form 10-K. At year-end 2016, we had divested substantially all of our oil and gas working interest properties. As a result of this significant change in our operations, we have reported the results of operations and financial position of these assets as discontinued operations within the consolidated statements of income (loss) and comprehensive income (loss) and consolidated balance sheets for all periods presented.

New and Pending Accounting Pr24

New and Pending Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
New and Pending Accounting Pronouncements	Adoption of New Accounting Standards In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , as part of its simplification initiative. The areas for simplification in this update involve several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and the classification on the statement of cash flows. The updated standard is effective for annual and interim periods beginning after December 31, 2016. Effective first quarter 2017, stock-based compensation (SBC) excess tax benefits or deficiencies are reflected in the consolidated statements of income (loss) and comprehensive income (loss) as a component of the provision for income taxes, whereas they previously were recognized in equity to the extent additional paid-in capital pool was available. Additionally, our consolidated statements of cash flows now presents excess tax benefits as an operating activity, with the prior periods adjusted accordingly. Finally, we have elected to account for forfeitures as they occur, rather than estimate expected forfeitures. As a result of the adoption of ASU 2016-09 in first quarter 2017, there were no material impacts to our consolidated financial statements. Pending Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. Early adoption is not permitted. The updated standard becomes effective for annual and interim periods beginning after December 15, 2017. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). We currently anticipate adopting the standard using the cumulative catch-up transition method. We anticipate this standard will not have a material impact on our consolidated financial statements. While we are continuing to assess all potential impacts of the standard, we expect revenue related to lot and tract sales to remain substantially unchanged. Due to the complexity of certain of our real estate sale transactions, the revenue recognition treatment required under the standard will be dependent on contract-specific terms, and may vary in some instances from recognition at the time of the sale closing. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , in order to provide increased transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The updated standard is effective for financial statements issued for annual periods beginning after December 15, 2019 and interim periods within fiscal years beginning after December 31, 2020 with early adoption permitted. We are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) , in order to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The updated standard is effective for financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those fiscal years with early adoption permitted. We are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures. In November, 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230). This ASU requires that a statement of cash flow explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash investments. This standard is effective for fiscal years beginning after December 15, 2017. The adoption of ASU 2016-18 will modify our current disclosures and reclassifications relating to the consolidated statements of cash flows, but we do not expect it to have a material effect on our consolidated financial statements.

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2017
Real Estate [Abstract]
Real Estate	Real estate consists of: First Year-End 2017 2016 (In thousands) Entitled, developed and under development projects $ 260,459 $ 263,859 Land in the entitlement process and other 29,450 29,144 $ 289,909 $ 293,003

Investment in Unconsolidated 26

Investment in Unconsolidated Ventures (Tables)	3 Months Ended
	Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Summarized Balance Sheet Information	Combined summarized balance sheet information for our ventures accounted for using the equity method follows: Venture Assets Venture Borrowings (a) Venture Equity Our Investment First Year-End First Year-End First Year-End First Year-End 2017 2016 2017 2016 2017 2016 2017 2016 (In thousands) 242, LLC (b) $ 23,530 $ 26,503 $ — $ 1,107 $ 22,905 $ 23,136 $ 10,904 $ 10,934 CL Ashton Woods, LP (c) 3,064 2,653 — — 2,948 2,198 2,067 1,107 CL Realty, LLC 8,056 8,048 — — 7,964 7,899 3,982 3,950 CREA FMF Nashville LLC (b) 54,071 56,081 36,018 37,446 17,470 17,091 4,894 4,923 Elan 99, LLC 49,539 49,652 36,391 36,238 12,447 13,100 11,202 11,790 FMF Littleton LLC 70,434 70,282 45,744 44,446 23,634 23,798 6,086 6,128 FMF Peakview LLC — — — — — — — — FOR/SR Forsyth LLC 10,794 10,672 1,569 1,568 9,233 8,990 8,310 8,091 HM Stonewall Estates, Ltd (c) 1,184 852 — — 1,096 852 579 477 LM Land Holdings, LP (c) 26,424 25,538 3,851 3,477 21,573 20,945 9,900 9,685 MRECV DT Holdings LLC 4,318 4,155 — — 4,318 4,144 3,886 3,729 MRECV Edelweiss LLC 5,276 3,484 — — 5,276 3,484 5,027 3,358 MRECV Juniper Ridge LLC 4,169 4,156 — — 4,169 4,156 3,428 3,741 MRECV Meadow Crossing II LLC 2,615 2,492 — — 2,614 2,491 2,352 2,242 Miramonte Boulder Pass, LLC 9,333 10,738 3,126 4,006 4,710 5,265 4,505 5,330 Temco Associates, LLC 4,387 4,368 — — 4,280 4,253 2,140 2,126 Other ventures — — — — — — — — $ 277,194 $ 279,674 $ 126,699 $ 128,288 $ 144,637 $ 141,802 $ 79,262 $ 77,611
Summarized Income Statement Information	Combined summarized income statement information for our ventures accounted for using the equity method follows: Venture Revenues Venture Earnings (Loss) Our Share of Earnings (Loss) First Quarter First Quarter First Quarter 2017 2016 2017 2016 2017 2016 (In thousands) 242, LLC (b) $ 12,738 $ — $ 8,465 $ (300 ) $ 4,318 $ (150 ) CL Ashton Woods, LP (c) 1,782 696 750 367 959 439 CL Realty, LLC 199 133 2,465 47 1,232 23 CREA FMF Nashville LLC (b) 1,405 901 (170 ) (571 ) (54 ) (171 ) Elan 99, LLC 902 20 (653 ) (410 ) (588 ) (369 ) FMF Littleton LLC 1,415 321 (165 ) (170 ) (41 ) (42 ) FMF Peakview LLC — 939 — (248 ) — (50 ) FOR/SR Forsyth LLC — — (32 ) — (28 ) — HM Stonewall Estates, Ltd (c) 496 546 243 220 103 103 LM Land Holdings, LP (c) 1,053 1,000 628 640 215 144 MRECV DT Holdings LLC 301 98 299 98 269 88 MRECV Edelweiss LLC 185 87 185 87 166 78 MRECV Juniper Ridge LLC 13 3 13 3 12 3 MRECV Meadow Crossing II LLC 122 — 122 (34 ) 110 (31 ) Miramonte Boulder Pass, LLC 1,642 — 44 (125 ) (325 ) (62 ) Temco Associates, LLC 48 99 27 67 14 34 Other ventures — — — 26 — 10 $ 22,301 $ 4,843 $ 12,221 $ (303 ) $ 6,362 $ 47 _____________________ (a) Total includes current maturities of $125,498,000 at first quarter-end 2017 , of which $108,675,000 is non-recourse to us, and $89,756,000 at year-end 2016 , of which $78,557,000 is non-recourse to us. (b) Includes unamortized deferred gains on real estate we contributed to ventures. We recognize deferred gains as income as the real estate is sold to third parties. Deferred gains of $1,372,000 are reflected as a reduction to our investment in unconsolidated ventures at first quarter-end 2017 . (c) Includes unrecognized basis difference of $578,000 which is reflected as an increase of our investment in unconsolidated ventures at first quarter-end 2017 . The difference will be accreted as income or expense over the life of the investment and included in our share of earnings (loss) from the respective ventures.

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of goodwill and other intangible assets	Carrying value of goodwill follows: First Year-End 2017 2016 (In thousands) Goodwill $ — $ 37,900

Held for Sale (Tables)

Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities of Properties Held for Sale	The major classes of assets and liabilities of the properties held for sale are as follows: First Year-End 2017 2016 (In thousands) Assets Held for Sale: Real estate $ 20,070 $ 19,931 Timber 1,666 1,682 Other intangible assets (a) 1,681 1,681 Oil and gas properties and equipment, net 149 782 Property and equipment, net (b) 6,301 6,301 $ 29,867 $ 30,377 Liabilities Held for Sale: Accrued interest 44 — Earnest money deposits 415 — Other liabilities — 103 $ 459 $ 103 ___________________ (a) Related to indefinite lived groundwater leases associated with our central Texas water assets. (b) Related to water wells associated with our central Texas water assets.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Summarized Results from Discontinued Operations	Summarized results from discontinued operations were as follows: First Quarter 2017 2016 (In thousands) Revenues $ 9 $ 4,270 Cost of sales (6 ) (4,964 ) Other operating expenses (54 ) (1,323 ) Loss from discontinued operations before income taxes $ (51 ) $ (2,017 ) Loss on sale of assets before income taxes — (10,977 ) Income tax benefit 469 4,778 Income (loss) from discontinued operations, net of taxes $ 418 $ (8,216 )
Schedule of Assets and Liabilities of Discontinued Operations	The major classes of assets and liabilities of discontinued operations at first quarter-end 2017 and year-end 2016 are as follows: First Year-End 2017 2016 (In thousands) Assets of Discontinued Operations: Receivables, net of allowance for bad debt $ 5 $ 6 Prepaid expenses — 8 $ 5 $ 14 Liabilities of Discontinued Operations: Accounts payable $ — $ 67 Other accrued expenses 1,163 5,228 $ 1,163 $ 5,295
Significant Operation and Investing Activities of DIscontinued Operations	Significant operating activities and investing activities of discontinued operations are as follows: First Quarter 2017 2016 (In thousands) Operating activities: Accounts payable and other accrued liabilities (3,000 ) — Loss on sale of assets — 10,977 Depreciation, depletion and amortization — 1,809 $ (3,000 ) $ 12,786 Investing activities: Oil and gas properties and equipment $ — $ (426 ) Proceeds from sales of assets — 28,958 $ — $ 28,532

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Receivables	Receivables consist of: First Year-End 2017 2016 (In thousands) Funds held by escrow agent related to owned mineral assets sold, net of adjustments $ 7,689 $ — Other receivables and accrued interest 1,466 1,505 Other loans secured by real estate, average interest rates of 4.85% at first quarter-end 2017 and 4.94% at year-end 2016 9,406 7,452 18,561 8,957 Allowance for bad debts (26 ) (26 ) $ 18,535 $ 8,931

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Reconciliation of Changes in Equity	A reconciliation of changes in equity at first quarter-end 2017 follows: Forestar Group Inc. Noncontrolling Interests Total (In thousands) Balance at year-end 2016 $ 560,651 $ 1,467 $ 562,118 Net income 25,205 40 25,245 Other (primarily share-based compensation) (35 ) — (35 ) $ 585,821 $ 1,507 $ 587,328

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt	Debt (a) consists of: First Year-End 2017 2016 (In thousands) 8.50% senior secured notes due 2022, net $ 5,205 $ 5,200 3.75% convertible senior notes due 2020, net of discount 105,787 104,673 Other indebtedness — interest rates ranging from 5.0% to 5.50% 791 485 $ 111,783 $ 110,358 ___________________ (a) At first quarter-end 2017 and year-end 2016 , $1,513,000 and $1,633,000 of unamortized deferred financing fees are deducted from our outstanding debt.

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Information About Our Fixed Rate Financial Instruments Not Measured at Fair Value	Information about our fixed rate financial instruments not measured at fair value follows: First Quarter-End 2017 Year-End 2016 Carrying Amount Fair Value Carrying Amount Fair Value Valuation Technique (In thousands) Fixed rate debt $ (112,505 ) $ (112,116 ) $ (111,506 ) $ (109,789 ) Level 2

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Attributable to Common Shareholders and Weighted Average Common Shares Outstanding	The computations of basic and diluted earnings per share are as follows: First Quarter 2017 2016 (In thousands) Numerator: Continuing operations Net income from continuing operations $ 24,827 $ 3,920 Less: Net (income) loss attributable to noncontrolling interest (40 ) (80 ) Earnings available for diluted earnings per share $ 24,787 $ 3,840 Less: Undistributed net income from continuing operations allocated to participating securities — — Earnings from continuing operations available to common shareholders for basic earnings per share $ 24,787 $ 3,840 Discontinued operations Net income (loss) from discontinued operations available for diluted earnings per share $ 418 $ (8,216 ) Less: Undistributed net income from discontinued operations allocated to participating securities — — Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share $ 418 $ (8,216 ) Denominator: Weighted average common shares outstanding — basic 42,097 34,302 Weighted average common shares upon conversion of participating securities — 7,857 Dilutive effect of stock options, restricted stock and equity-settled awards 309 161 Total weighted average shares outstanding — diluted 42,406 42,320 Anti-dilutive awards excluded from diluted weighted average shares 1,808 2,450

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Assets Allocated by Segment	Total assets allocated by segment are as follows: First Year-End 2017 2016 (In thousands) Real estate $ 404,322 $ 403,062 Mineral resources 7,921 38,907 Other 11,509 11,531 Assets of discontinued operations 5 14 Assets not allocated to segments (a) 339,837 279,694 $ 763,594 $ 733,208 _________________________ (a) Assets not allocated to segments at first quarter-end 2017 principally consist of cash and cash equivalents of $337,432,000 . Assets not allocated to segments at year-end 2016 principally consist of cash and cash equivalents of $265,798,000 and an income tax receivable of $10,867,000 .
Segment Revenues and Earnings	Segment revenues and earnings are as follows: First Quarter 2017 2016 (In thousands) Revenues: Real estate $ 20,752 $ 36,098 Mineral resources 1,497 1,082 Other 56 438 Total revenues $ 22,305 $ 37,618 Segment earnings (loss): Real estate $ 10,473 $ 20,224 Mineral resources 37,816 553 Other (387 ) (581 ) Total segment earnings 47,902 20,196 Items not allocated to segments (a) (6,904 ) (14,204 ) Income (loss) from continuing operations before taxes attributable to Forestar Group Inc. $ 40,998 $ 5,992 _________________________ (a) Items not allocated to segments consist of: First Quarter 2017 2016 (In thousands) General and administrative expense $ (4,028 ) $ (4,973 ) Shared-based and long-term incentive compensation expense (895 ) (1,544 ) Interest expense (2,235 ) (7,639 ) Other corporate non-operating income 254 (48 ) $ (6,904 ) $ (14,204 )

Share-Based and Long-Term Inc36

Share-Based and Long-Term Incentive Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Components of Share-Based Compensation Expense (Income)	Share-based and long-term incentive compensation expense consists of: First Quarter 2017 2016 (In thousands) Cash-settled awards $ 87 $ 619 Equity-settled awards 618 479 Restricted stock — 6 Stock options 138 276 Total share-based compensation 843 1,380 Deferred cash 52 164 $ 895 $ 1,544
Share-Based Compensation Expense (Income) Included in Operating Expense	Share-based and long-term incentive compensation expense is included in: First Quarter 2017 2016 (In thousands) General and administrative expense $ 663 $ 1,506 Other operating expense 232 38 $ 895 $ 1,544

Real Estate - Real Estate (Deta

Real Estate - Real Estate (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	$ 289,909	$ 293,003
Entitled, developed and under development projects
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	260,459	263,859
Land in the entitlement process and other
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	$ 29,450	$ 29,144

Real Estate - Additional Inform

Real Estate - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Real Estate Properties [Line Items]
Reimbursements from utility and improvement districts	$ (1,180)	$ (306)
Utility and Improvement District
Real Estate Properties [Line Items]
Cost of asset in developed and under development projects	46,660		$ 45,157
Reimbursements from utility and improvement districts	1,180
San Antonio, Texas | Cibolo Canyons Project
Real Estate Properties [Line Items]
Cost of asset in developed and under development projects	15,344		$ 14,749
Cumulative reimbursable cost associated with real estate projects in development	54,376
Return of reimbursements received in relation to direct costs and expenses previously paid or incurred for development of real estate projects	$ 45,132

Investment in Unconsolidated 39

Investment in Unconsolidated Ventures - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)aventure	Mar. 31, 2016USD ($)multifamily_site
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated ventures	$ 1,915	$ 3,019
Distributions of return on investments and earnings	6,485	2,871
Earnings (loss)	12,221	(303)
Equity in earnings of unconsolidated ventures	6,362	47
Gain on sale of assets	$ 74,215	2,604
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Number of ventures under ownership interest using equity method | venture	16
Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Number of ventures that are a VIE | venture	0
FMF Peakview LLC | Multi Family Property
Schedule of Equity Method Investments [Line Items]
Net proceeds		$ 13,167
Number of units of multifamily project | multifamily_site		304
Gain on sale of assets		$ 9,613
CL Realty, LLC
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	$ 2,465	47
Equity in earnings of unconsolidated ventures	1,232	23
CL Realty, LLC | Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Net proceeds	$ 2,400
Equity method investment, ownership percentage	50.00%
Equity in earnings of unconsolidated ventures	$ 1,200
242, LLC
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	8,465	(300)
Equity in earnings of unconsolidated ventures	4,318	$ (150)
242, LLC | Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Distributions of return on investments and earnings	$ 4,348
Area of land (in acres) | a	46
Net proceeds	$ 9,719
Earnings (loss)	$ 6,612
Equity method investment, ownership percentage	50.00%
Equity in earnings of unconsolidated ventures	$ 3,306

Investment in Unconsolidated 40

Investment in Unconsolidated Ventures - Summarized Balance Sheet Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Venture Assets	$ 277,194	$ 279,674
Venture Borrowings	126,699	128,288
Venture Equity	144,637	141,802
Investment in venture	79,262	77,611
242, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	23,530	26,503
Venture Borrowings	0	1,107
Venture Equity	22,905	23,136
Investment in venture	10,904	10,934
CL Ashton Woods, LP
Schedule of Equity Method Investments [Line Items]
Venture Assets	3,064	2,653
Venture Borrowings	0	0
Venture Equity	2,948	2,198
Investment in venture	2,067	1,107
CL Realty, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	8,056	8,048
Venture Borrowings	0	0
Venture Equity	7,964	7,899
Investment in venture	3,982	3,950
CREA FMF Nashville LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	54,071	56,081
Venture Borrowings	36,018	37,446
Venture Equity	17,470	17,091
Investment in venture	4,894	4,923
Elan 99, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	49,539	49,652
Venture Borrowings	36,391	36,238
Venture Equity	12,447	13,100
Investment in venture	11,202	11,790
FOR/SR Forsyth LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	10,794	10,672
Venture Borrowings	1,569	1,568
Venture Equity	9,233	8,990
Investment in venture	8,310	8,091
FMF Littleton LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	70,434	70,282
Venture Borrowings	45,744	44,446
Venture Equity	23,634	23,798
Investment in venture	6,086	6,128
FMF Peakview LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	0	0
Venture Borrowings	0	0
Venture Equity	0	0
Investment in venture	0	0
HM Stonewall Estates, Ltd
Schedule of Equity Method Investments [Line Items]
Venture Assets	1,184	852
Venture Borrowings	0	0
Venture Equity	1,096	852
Investment in venture	579	477
LM Land Holdings, LP
Schedule of Equity Method Investments [Line Items]
Venture Assets	26,424	25,538
Venture Borrowings	3,851	3,477
Venture Equity	21,573	20,945
Investment in venture	9,900	9,685
MRECV DT Holdings LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,318	4,155
Venture Borrowings	0	0
Venture Equity	4,318	4,144
Investment in venture	3,886	3,729
MRECV Edelweiss LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	5,276	3,484
Venture Borrowings	0	0
Venture Equity	5,276	3,484
Investment in venture	5,027	3,358
MREC VH Juniper Ridge LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,169	4,156
Venture Borrowings	0	0
Venture Equity	4,169	4,156
Investment in venture	3,428	3,741
MRECV Meadow Crossing II LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	2,615	2,492
Venture Borrowings	0	0
Venture Equity	2,614	2,491
Investment in venture	2,352	2,242
Miramonte Boulder Pass, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	9,333	10,738
Venture Borrowings	3,126	4,006
Venture Equity	4,710	5,265
Investment in venture	4,505	5,330
Temco Associates, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,387	4,368
Venture Borrowings	0	0
Venture Equity	4,280	4,253
Investment in venture	2,140	2,126
Other ventures
Schedule of Equity Method Investments [Line Items]
Venture Assets	0	0
Venture Borrowings	0	0
Venture Equity	0	0
Investment in venture	$ 0	$ 0

Investment in Unconsolidated 41

Investment in Unconsolidated Ventures - Summarized Income Statement Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Schedule of Equity Method Investments [Line Items]
Revenues	$ 22,301	$ 4,843
Earnings (loss)	12,221	(303)
Equity in earnings of unconsolidated ventures	6,362	47
242, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	12,738	0
Earnings (loss)	8,465	(300)
Equity in earnings of unconsolidated ventures	4,318	(150)
CL Ashton Woods, LP
Schedule of Equity Method Investments [Line Items]
Revenues	1,782	696
Earnings (loss)	750	367
Equity in earnings of unconsolidated ventures	959	439
CL Realty, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	199	133
Earnings (loss)	2,465	47
Equity in earnings of unconsolidated ventures	1,232	23
CREA FMF Nashville LLC
Schedule of Equity Method Investments [Line Items]
Revenues	1,405	901
Earnings (loss)	(170)	(571)
Equity in earnings of unconsolidated ventures	(54)	(171)
Elan 99, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	902	20
Earnings (loss)	(653)	(410)
Equity in earnings of unconsolidated ventures	(588)	(369)
FOR/SR Forsyth LLC
Schedule of Equity Method Investments [Line Items]
Revenues	0	0
Earnings (loss)	(32)	0
Equity in earnings of unconsolidated ventures	(28)	0
FMF Littleton LLC
Schedule of Equity Method Investments [Line Items]
Revenues	1,415	321
Earnings (loss)	(165)	(170)
Equity in earnings of unconsolidated ventures	(41)	(42)
FMF Peakview LLC
Schedule of Equity Method Investments [Line Items]
Revenues	0	939
Earnings (loss)	0	(248)
Equity in earnings of unconsolidated ventures	0	(50)
HM Stonewall Estates, Ltd
Schedule of Equity Method Investments [Line Items]
Revenues	496	546
Earnings (loss)	243	220
Equity in earnings of unconsolidated ventures	103	103
LM Land Holdings, LP
Schedule of Equity Method Investments [Line Items]
Revenues	1,053	1,000
Earnings (loss)	628	640
Equity in earnings of unconsolidated ventures	215	144
MRECV DT Holdings LLC
Schedule of Equity Method Investments [Line Items]
Revenues	301	98
Earnings (loss)	299	98
Equity in earnings of unconsolidated ventures	269	88
MRECV Edelweiss LLC
Schedule of Equity Method Investments [Line Items]
Revenues	185	87
Earnings (loss)	185	87
Equity in earnings of unconsolidated ventures	166	78
MREC VH Juniper Ridge LLC
Schedule of Equity Method Investments [Line Items]
Revenues	13	3
Earnings (loss)	13	3
Equity in earnings of unconsolidated ventures	12	3
MRECV Meadow Crossing II LLC
Schedule of Equity Method Investments [Line Items]
Revenues	122	0
Earnings (loss)	122	(34)
Equity in earnings of unconsolidated ventures	110	(31)
Miramonte Boulder Pass, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	1,642	0
Earnings (loss)	44	(125)
Equity in earnings of unconsolidated ventures	(325)	(62)
Temco Associates, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	48	99
Earnings (loss)	27	67
Equity in earnings of unconsolidated ventures	14	34
Other ventures
Schedule of Equity Method Investments [Line Items]
Revenues	0	0
Earnings (loss)	0	26
Equity in earnings of unconsolidated ventures	$ 0	$ 10

Investment in Unconsolidated 42

Investment in Unconsolidated Ventures - Summarized Income Statement Information additional information (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Long-term debt, current maturities	$ 125,498	$ 89,756
Equity Method Investments | Non-recourse Debt
Schedule of Equity Method Investments [Line Items]
Long-term debt, current maturities	108,675	$ 78,557
242, LLC
Schedule of Equity Method Investments [Line Items]
Unrecognized basis difference on equity method investment	1,372
LM Land Holdings, LP
Schedule of Equity Method Investments [Line Items]
Unrecognized basis difference on equity method investment	$ 578

Goodwill - Carrying Value of Go

Goodwill - Carrying Value of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 0	$ 37,900

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 0		$ 37,900
Non-cash impairment charges	37,900	$ 0
Credo
Business Acquisition [Line Items]
Goodwill	0		$ 37,900
the Mineral Companies | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Non-cash impairment charges	37,900
Disposal group, consideration	85,700
Gain on disposition of oil and gas property	74,215
Deferred gain on sale of property	$ 8,200

Held for Sale - Narrative (Deta

Held for Sale - Narrative (Details)	Mar. 31, 2017a
Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of land (in acres)	19,000

Held for Sale (Assets and Liabi

Held for Sale (Assets and Liabilities of Properties Held for Sale) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets Held for Sale [Abstract]
Assets	$ 5	$ 14
Liabilities Held for Sale [Abstract]
Accrued interest	1,163	5,228
Liabilities	1,163	5,295
Disposal Group, Held-for-sale, Not Discontinued Operations
Assets Held for Sale [Abstract]
Property and equipment	6,301	6,301
Other intangible assets	1,681	1,681
Assets	29,867	30,377
Liabilities Held for Sale [Abstract]
Accrued interest	44	0
Earnest money deposits	415	0
Other liabilities	0	103
Liabilities	459	103
Real Estate | Disposal Group, Held-for-sale, Not Discontinued Operations
Assets Held for Sale [Abstract]
Property and equipment	20,070	19,931
Timber Properties | Disposal Group, Held-for-sale, Not Discontinued Operations
Assets Held for Sale [Abstract]
Property and equipment	1,666	1,682
Oil and Gas Properties | Disposal Group, Held-for-sale, Not Discontinued Operations
Assets Held for Sale [Abstract]
Property and equipment	$ 149	$ 782

Discontinued Operations (Summar

Discontinued Operations (Summarized Results from Discontinued Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Revenues	$ 9	$ 4,270
Cost of sales	(6)	(4,964)
Other operating expenses	(54)	(1,323)
Loss from discontinued operations before income taxes	(51)	(2,017)
Loss on sale of assets before income taxes	0	(10,977)
Income tax benefit	469	4,778
Income (loss) from discontinued operations, net of taxes	$ 418	$ (8,216)

Discontinued Operations (Additi

Discontinued Operations (Additional Information) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)awell
Discontinued Operations and Disposal Groups [Abstract]
Gain (loss) on disposition of proved property	$ (10,977)
Net mineral acres leased from others sold | a	190,960
Gross producing oil and gas wells sold | well	185
Net producing oil and gas wells sold | well	66
Proceeds from sale of oil and gas property and equipment	$ 32,227
Reimbursement of capital costs related to sale of in progress wells	3,269
Loss related to write-off of allocated goodwill	$ 7,244

Discontinued Operations (Assets

Discontinued Operations (Assets and Liabilities of Discontinued Operations) (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets of Discontinued Operations:
Receivables, net of allowance for bad debt	$ 5	$ 6
Prepaid expenses	0	8
Assets	5	14
Liabilities of Discontinued Operations:
Accounts payable	0	67
Other accrued expenses	1,163	5,228
Liabilities	$ 1,163	$ 5,295

Discontinued Operations (Signif

Discontinued Operations (Significant Operating and Investing Activities of Discontinued Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities:
Accounts payable and other accrued liabilities	$ (5,764)	$ (6,702)
Loss on sale of assets	0	10,977
Depreciation, depletion and amortization	1,485	4,785
Cash provided by (used in) operating activities, discontinued operations	(3,000)	12,786
Investing activities:
Oil and gas properties and equipment	(2,400)	(426)
Proceeds from sales of assets	77,510	56,828
Cash provided by (used in) investing activities, discontinued operations	0	28,532
Discontinued Operations
Operating activities:
Accounts payable and other accrued liabilities	(3,000)	0
Loss on sale of assets	0	10,977
Depreciation, depletion and amortization	0	1,809
Investing activities:
Oil and gas properties and equipment	0	(426)
Proceeds from sales of assets	$ 0	$ 28,958

Receivables - Receivables (Deta

Receivables - Receivables (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 18,561	$ 8,957
Allowance for bad debts	(26)	(26)
Receivables, net	18,535	8,931
Funds held by escrow agent
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	7,689	0
Receivables and accrued interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,466	1,505
Notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 9,406	$ 7,452
Average interest rates	4.85%	4.94%

Receivables - Additional Inform

Receivables - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Due period of notes receivable as secured by deed of trust	3 years
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Due period of notes receivable as secured by deed of trust	5 years

Equity - Reconciliation of Chan

Equity - Reconciliation of Changes in Equity (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 562,118
Consolidated net income (loss)	25,245	$ (4,296)
Other (primarily share-based compensation)	(35)
Ending balance	587,328
Forestar Group Inc.
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	560,651
Consolidated net income (loss)	25,205
Other (primarily share-based compensation)	(35)
Ending balance	585,821
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,467
Consolidated net income (loss)	40
Ending balance	$ 1,507

Debt, net - Schedule of Debt (D

Debt, net - Schedule of Debt (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Debt, net	$ 111,783	$ 110,358
Deferred finance costs, net	$ 1,513	$ 1,633
Senior Notes
Line of Credit Facility [Line Items]
Interest rate percentage	8.50%	8.50%
Debt, net	$ 5,205	$ 5,200
Debt instrument, maturity date	Jun. 1, 2022
Convertible Debt
Line of Credit Facility [Line Items]
Debt, net	$ 105,787	104,673
Other indebtedness
Line of Credit Facility [Line Items]
Debt, net	$ 791	$ 485
Convertible Debt
Line of Credit Facility [Line Items]
Interest rate percentage	3.75%	3.75%
Debt instrument, maturity date	Mar. 1, 2020
Minimum | Other indebtedness
Line of Credit Facility [Line Items]
Interest rate percentage	5.00%
Maximum | Other indebtedness
Line of Credit Facility [Line Items]
Interest rate percentage	5.50%

Debt, net - Additional Informat

Debt, net - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017USD ($)extension	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
Line of Credit Facility [Line Items]
Deferred finance costs, net	$ 1,513,000		$ 1,633,000
Amortization of deferred financing fees	330,000	$ 927,000
Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity under term loan facility	$ 125,000,000
Line of credit facility, expiration date	May 15, 2017
Number of extensions | extension	2
Length of extensions	1 year
Amount drawn on	$ 0
Sublimit for letters of credit outstanding	14,543,000
Net unused borrowing capacity	$ 53,665,000
Percentage of spread on federal funds effective rate	0.50%
Minimum net worth required for compliance	$ 445,215,000
Minimum net worth required for compliance, computed as (as a percent)	$ 379,044,000
Minimum net worth required for compliance (as a percent)	85.00%
Positive net income requirement for net worth compliance (as a percent)	75.00%
Effective leverage ratio (less than)	40.00%
Stockholders distribution covenant, interest coverage ratio	3
Minimum liquidity required by covenant (less than)	$ 125,000,000
Payments of capital distribution	$ 50,000,000
Percentage from sales of properties and non-core assets (up to)	65.00%
Deferred finance costs, net	$ 105,000		$ 314,000
Senior Notes
Line of Credit Facility [Line Items]
Interest rate percentage	8.50%		8.50%
Letter of Credit | Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, letters of credit sublimit	$ 100,000,000
LIBOR | Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	4.00%
Base Rate | Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Percentage of variable spread on base rate	3.00%
30 day LIBOR rate | Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.00%

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairments	$ 37,900	$ 0
the Mineral Companies | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairments	37,900
Disposal group, consideration	$ 85,700

Fair Value - Information About

Fair Value - Information About Our Fixed Rate Financial Instruments Not Measured at Fair Value (Detail) - Fair Value, Inputs, Level 2 - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate debt	$ (112,116)	$ (109,789)
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate debt	$ (112,505)	$ (111,506)

Net Income (Loss) per Share - A

Net Income (Loss) per Share - Additional Information (Detail) - $ / shares	Dec. 15, 2016	Mar. 31, 2017	Dec. 31, 2016
Six Percent Tangible Equity Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate percentage			6.00%
Convertible Debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate percentage		3.75%	3.75%
Conversion price of convertible notes		$ 24.49
Maximum | Six Percent Tangible Equity Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Settlement of tangible equity units, shares	7,857,000

Net Income (Loss) per Share - E

Net Income (Loss) per Share - Earnings Attributable to Common Shareholders and Weighted Average Common Shares Outstanding (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Continuing operations
Net income from continuing operations	$ 24,827	$ 3,920
Less: Net (income) loss attributable to noncontrolling interests	(40)	(80)
Earnings available for diluted earnings per share	24,787	3,840
Less: Undistributed net income from continuing operations allocated to participating securities	0	0
Earnings from continuing operations available to common shareholders for basic earnings per share	24,787	3,840
Discontinued operations
Income (loss) from discontinued operations, net of taxes	418	(8,216)
Less: Undistributed net income from discontinued operations allocated to participating securities	0	0
Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share	$ 418	$ (8,216)
Denominator:
Weighted average common shares outstanding — basic	42,097	34,302
Weighted average common shares upon conversion of participating securities (TEU's)	0	7,857
Dilutive effect of stock options, restricted stock and equity-settled awards	309	161
Total weighted average shares outstanding — diluted	42,406	42,320
Anti-dilutive awards excluded from diluted weighted average shares (in shares)	1,808	2,450

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	(40.00%)	35.00%
Valuation allowance, deferred tax asset, amount	$ 68,944		$ 73,405
Unrecognized tax benefits	$ 811

Commitments and Contingencies -

Commitments and Contingencies - Litigation (Details)	3 Months Ended
	Mar. 31, 2017USD ($)
Huffman vs. Forestar Petroleum Corporation | Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount	$ 3,000,000

Commitments and Contingencies62

Commitments and Contingencies - Environmental (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Environmental Exit Cost [Line Items]
Asset retirement obligation	$ 1,155	$ 1,258
Discontinued Operations
Environmental Exit Cost [Line Items]
Asset retirement obligation	$ 1,155

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017segment
Segment Reporting [Abstract]
Number of business segments	3

Segment Information - Assets Al

Segment Information - Assets Allocated by Segment (Detail) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total Assets		$ 763,594	$ 733,208
Cash and cash equivalents		337,432	265,798	$ 142,646	$ 96,442
Income taxes receivable		0	10,867
Continuing Operations | Operating Segments | Real estate
Segment Reporting Information [Line Items]
Total Assets		404,322	403,062
Continuing Operations | Operating Segments | Mineral resources
Segment Reporting Information [Line Items]
Total Assets		7,921	38,907
Continuing Operations | Operating Segments | Other
Segment Reporting Information [Line Items]
Total Assets		11,509	11,531
Continuing Operations | Items Not Allocated to Segments
Segment Reporting Information [Line Items]
Total Assets	[1]	339,837	279,694
Cash and cash equivalents		337,432	265,798
Income taxes receivable			10,867
Discontinued Operations
Segment Reporting Information [Line Items]
Total Assets		$ 5	$ 14
[1]	Assets not allocated to segments at first quarter-end 2017 principally consist of cash and cash equivalents of $337,432,000. Assets not allocated to segments at year-end 2016 principally consist of cash and cash equivalents of $265,798,000 and an income tax receivable of $10,867,000.

Segment Information - Segment R

Segment Information - Segment Revenues and Earnings (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Total revenues	$ 22,305	$ 37,618
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	40,998	5,992
General and administrative expense	(4,691)	(6,479)
Interest expense	(2,235)	(7,639)
Other corporate non-operating income	676	74
Segment Earnings
Segment Reporting Information [Line Items]
Total revenues	22,305	37,618
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	47,902	20,196
Segment Earnings | Real estate
Segment Reporting Information [Line Items]
Total revenues	20,752	36,098
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	10,473	20,224
Segment Earnings | Mineral resources
Segment Reporting Information [Line Items]
Total revenues	1,497	1,082
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	37,816	553
Segment Earnings | Other
Segment Reporting Information [Line Items]
Total revenues	56	438
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	(387)	(581)
Items Not Allocated to Segments
Segment Reporting Information [Line Items]
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	(6,904)	(14,204)
General and administrative expense	(4,028)	(4,973)
Shared-based and long-term incentive compensation expense	(895)	(1,544)
Interest expense	(2,235)	(7,639)
Other corporate non-operating income	$ 254	$ (48)

Share-Based and Long-Term Inc66

Share-Based and Long-Term Incentive Compensation - Components of Share-Based Compensation Expense (Income) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	$ 843	$ 1,380
Compensation expense	52	164
Share based and Long Term Incentive Compensation	895	1,544
Cash Settled Awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	87	619
Equity-settled awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	618	479
Restricted Stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	0	6
Employee Stock Option
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	138	276
General and Administrative Expense
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share based and Long Term Incentive Compensation	663	1,506
Other Operating Expenses
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share based and Long Term Incentive Compensation	$ 232	$ 38

Share-Based and Long-Term Inc67

Share-Based and Long-Term Incentive Compensation - Share Based Compensation Expense (Income) Included in Operating Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	$ 895	$ 1,544
General and administrative expense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	663	1,506
Other Operating Expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	$ 232	$ 38

Share-Based and Long-Term Inc68

Share-Based and Long-Term Incentive Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 52	$ 164
Fair value of awards granted to retirement eligible employees and expensed at date of grant		$ 600
Unrecognized share-based compensation expense related to non-vested equity-settled awards, restricted stock and stock options	$ 1,421
Shares issued out of treasury stock	182,152	165,167
Shares withheld for payroll taxes	75,870	23,691
Value of shares withheld for payroll taxes	$ 980	$ 205
Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 188	265
Board of Directors | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, equivalent units	49,225
Long-Term Incentive Compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement with individual, cash award granted, amount		$ 620	$ 587
Deferred compensation arrangement with individual, service period (in years)		2 years	3 years
Deferred compensation cash-based arrangements, liability, current and noncurrent	$ 296			$ 539
2017 | Board of Directors | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, equivalent units	34,746
Vesting percentage	25.00%

Subsequent Event (Details)

Subsequent Event (Details)	May 08, 2017USD ($)a	Apr. 26, 2017USD ($)a	Apr. 13, 2017USD ($)$ / shares	Mar. 31, 2017USD ($)a$ / shares	Mar. 31, 2016USD ($)	Dec. 31, 2016$ / shares
Subsequent Event [Line Items]
Common stock, par value (in dollars per share) | $ / shares				$ 1		$ 1
Gain on sale of assets				$ 74,215,000	$ 2,604,000
Forestar Group Inc. | Terra Firma Merger Parent, L.P | Subsequent Event
Subsequent Event [Line Items]
Sale of stock, price per share (in usd per share) | $ / shares			$ 14.25
Termination fee			$ 20,000,000
Forestar Group Inc. | Scenario One | Terra Firma Merger Parent, L.P | Subsequent Event
Subsequent Event [Line Items]
Termination fee			4,000,000
Forestar Group Inc. | Scenario Two | Terra Firma Merger Parent, L.P | Subsequent Event
Subsequent Event [Line Items]
Termination fee			3,000,000
Forestar Group Inc. | Scenario Three | Terra Firma Merger Parent, L.P | Subsequent Event
Subsequent Event [Line Items]
Termination fee			$ 40,000,000
Disposal Group, Held-for-sale, Not Discontinued Operations
Subsequent Event [Line Items]
Area of land (in acres) | a				19,000
Disposal Group, Held-for-sale, Not Discontinued Operations | Georgia | Subsequent Event
Subsequent Event [Line Items]
Area of land (in acres) | a		11,000
Disposal group, consideration		$ 20,000,000
Gain on sale of assets		$ 8,600,000
Disposal Group, Held-for-sale, Not Discontinued Operations | Texas | Subsequent Event
Subsequent Event [Line Items]
Area of land (in acres) | a	4,400
Disposal group, consideration	$ 16,000,000
Gain on sale of assets	$ 12,000,000