← Forestar Group Inc.
| Annual Trend | FY 2015 | FY 2016 | FY 2017 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | — | $178.8m | $166.9m | $203.4m | $167.9m | |
| Net Income (Loss) Attributable to Parent | ($213.0m) | $58.6m | $50.3m | $33.0m | $60.8m | $110.2m | $178.8m | $166.9m | $203.4m | $167.9m | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($213.0m) | $62.0m | $4.2m | $33.0m | $61.7m | $110.5m | $178.8m | $166.9m | $203.4m | $167.9m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($212.4m) | $60.2m | $52.3m | $36.3m | $61.7m | $110.5m | $178.8m | $166.9m | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | $77.0m | $6.3m | — | — | — | — | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | $36.3m | — | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | ($16.9m) | $46.0m | $0 | — | — | — | — | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $676k | $1.5m | $2.1m | $3.3m | $900k | $300k | $0 | $0 | — | — | |
| Depreciation, Depletion and Amortization | $45.1m | $11.4m | $5.5m | $6.7m | $4.9m | $2.7m | $2.7m | $3.0m | $3.0m | $3.5m | |
| Amortization of Debt Issuance Costs | $4.0m | $3.6m | $979k | — | — | — | — | — | — | — | |
| Depreciation | $45.1m | $11.4m | $5.5m | $300k | $300k | $400k | $700k | $1.0m | $1.1m | $1.3m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $2.7m | $3.0m | $3.0m | $3.5m | |
| Deferred Income Tax Expense (Benefit) | $41.3m | ($1.4m) | ($1.7m) | $9.4m | $23.1m | $19.2m | $12.5m | $13.8m | $16.8m | $18.6m | |
| Deferred Income Tax | — | — | — | — | — | — | $12.5m | $13.8m | $16.8m | $18.7m | |
| Deferred Tax | — | — | — | — | — | — | $12.5m | $13.8m | $16.8m | $18.7m | |
| Deferred income taxes | — | — | ($1.7m) | $9.5m | $23.1m | $19.2m | $12.5m | $13.8m | $16.8m | $18.7m | |
| Share-based Payment Arrangement, Noncash Expense | $4.2m | $4.0m | $6.6m | $1.3m | $2.0m | $2.6m | $3.3m | $4.3m | $5.3m | $7.3m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $762k | $222k | $981k | — | — | $600k | $500k | $700k | $3.4m | $1.8m | |
| Asset Impairment Charge | — | — | — | — | — | — | $12.5m | $24.0m | $4.1m | $7.2m | |
| Impairments and land option charges | — | — | — | $1.3m | $900k | $3.0m | $12.5m | $24.0m | $4.1m | $7.2m | |
| Income (Loss) from Equity Method Investments | $16.0m | $6.1m | $17.9m | $500k | $700k | $200k | $1.2m | $0 | $0 | $600k | |
| Gain (Loss) on Extinguishment of Debt | — | ($35.9m) | ($611k) | $0 | $0 | ($18.1m) | $0 | $0 | $0 | ($1.2m) | |
| Gain (Loss) on Disposition of Assets | $879k | $166.7m | $113.4m | $3.0m | $100k | $2.5m | $3.2m | $1.6m | $9.5m | $4.5m | |
| Income Tax Expense (Benefit) | $32.6m | $15.3m | $45.8m | $9.4m | $16.4m | $36.1m | $57.0m | $54.7m | $66.7m | $51.4m | |
| Operating Lease, Expense | — | — | — | — | — | $1.7m | $2.5m | $3.1m | $3.7m | $4.2m | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | ($1.2m) | $0 | $0 | ($600k) | |
| Loss on extinguishment of debt | — | — | $600k | $0 | $0 | ($18.1m) | $0 | $0 | $0 | ($1.2m) | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Inventories | — | — | — | $531.7m | $281.7m | $585.9m | $142.3m | ($206.3m) | $469.9m | $384.8m | |
| Increase (Decrease) in Other Operating Assets | — | — | — | ($300k) | $3.4m | $14.8m | $1.6m | $7.0m | $27.7m | $7.4m | |
| Payments of Financing Costs | $295k | $0 | $313k | $6.9m | $5.3m | $4.9m | $0 | $0 | — | $6.2m | |
| Asset Retirement Obligation, Accretion Expense | $144k | $56k | — | — | — | — | — | — | — | — | |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | — | ($13.7m) | ($197k) | — | — | — | — | — | — | — | |
| General and Administrative Expense | $27.3m | $21.6m | $56.5m | — | — | — | — | — | — | — | |
| Goodwill | $61.2m | $37.9m | $0 | — | — | — | — | — | — | — | |
| Inventory Write-down | — | — | — | $800k | $0 | $0 | $3.8m | — | — | — | |
| Proceeds from Stock Options Exercised | $31k | — | $616k | — | — | — | — | — | — | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | — | — | — | — | — | $1.3b | $1.5b | $1.5b | |
| Operating Cash Flow | $35.1m | $66.9m | ($16.2m) | ($391.2m) | ($168.4m) | ($303.1m) | $108.7m | $364.1m | ($158.4m) | ($197.7m) | |
| Cash Flow From Continuing Operating Activities | $35.1m | $66.9m | ($16.2m) | ($391.2m) | ($168.4m) | ($303.1m) | $108.7m | $364.1m | ($158.4m) | ($197.7m) | |
| Beginning Cash Position | — | — | — | — | — | — | $153.6m | $264.8m | $616.0m | $481.2m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $1.2m | ($13.2m) | $16.3m | $92.5m | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | $1.3m | $300k | $7.3m | $3.2m | |
| Change In Account Payable | — | — | — | — | — | — | $40.9m | ($12.7m) | $24.7m | ($14.4m) | |
| Change In Accrued Expense | — | — | — | — | — | — | $17.8m | ($18.2m) | $40.5m | ($12.8m) | |
| Change In Other Current Assets | — | — | — | — | — | — | ($143.9m) | $199.3m | ($497.6m) | ($392.2m) | |
| Change In Other Working Capital | — | — | — | — | — | — | ($11.5m) | ($14.7m) | $50.9m | $21.0m | |
| Change In Payable | — | — | — | — | — | — | $40.9m | ($12.7m) | $24.7m | ($14.4m) | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $58.7m | ($30.9m) | $65.2m | ($27.2m) | |
| Change In Receivables | — | — | — | — | — | $6.3m | $0 | $0 | — | — | |
| Change In Working Capital | — | — | — | — | — | — | ($96.7m) | $153.7m | ($381.5m) | ($398.4m) | |
| Changes In Cash | — | — | — | — | — | — | $111.2m | $351.2m | ($134.8m) | ($102.0m) | |
| End Cash Position | — | — | — | — | — | — | $264.8m | $616.0m | $481.2m | $379.2m | |
| Financing Cash Flow | — | — | — | — | — | — | $1.2m | ($13.2m) | $16.3m | $92.5m | |
| Free Cash Flow | — | — | — | — | — | — | $105.2m | $362.8m | ($160.6m) | ($199.9m) | |
| Investing Cash Flow | — | — | — | — | — | — | $1.3m | $300k | $7.3m | $3.2m | |
| Issuance Of Capital Stock | — | — | — | — | — | — | $1.7m | $0 | $19.7m | $0 | |
| Net Business Purchase And Sale | — | — | — | — | — | — | $1.6m | $0 | $0 | $900k | |
| Operating Gains Losses | — | — | — | — | — | — | ($4.4m) | ($1.6m) | ($9.5m) | ($3.9m) | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | — | — | $0 | $0 | $500k | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($500k) | ($700k) | ($3.4m) | ($1.8m) | |
| Sale Of Business | — | — | — | — | — | — | $1.6m | $0 | $0 | $900k | |
| Stock Based Compensation | — | — | — | — | — | — | $3.3m | $4.3m | $5.3m | $7.3m | |
| Equity in earnings of unconsolidated ventures | ($16.0m) | ($6.1m) | ($17.9m) | ($500k) | ($700k) | ($200k) | ($1.2m) | $0 | $0 | ($600k) | |
| Stock-based compensation expense | $4.2m | $4.0m | $6.6m | $1.3m | $2.0m | $2.6m | $3.3m | $4.3m | $5.3m | $7.3m | |
| Gain on sale of assets | ($879k) | ($153.1m) | ($113.2m) | $3.0m | $100k | $2.5m | $3.2m | $1.6m | $9.5m | ($4.5m) | |
| (Increase) decrease in real estate | — | — | ($17.7m) | ($531.7m) | ($281.7m) | ($585.9m) | ($142.3m) | $206.3m | ($469.9m) | ($384.8m) | |
| Increase in other assets | — | — | $2.3m | $300k | ($3.4m) | ($14.8m) | ($1.6m) | ($7.0m) | ($27.7m) | ($7.4m) | |
| (Decrease) increase in accounts payable and other accrued liabilities | ($11.9m) | ($16.7m) | ($7.2m) | $41.9m | $24.0m | $28.0m | $40.9m | ($12.7m) | $24.7m | ($14.4m) | |
| (Decrease) increase in accrued development costs | — | — | — | $17.5m | $9.0m | $60.1m | $17.8m | ($18.2m) | $40.5m | ($12.8m) | |
| Increase (decrease) in earnest money deposits on sales contracts | — | — | — | $40.5m | $3.9m | $49.7m | ($11.5m) | ($14.7m) | $50.9m | $21.0m | |
| Expenditures for property, equipment, software and other | ($14.7m) | ($6.1m) | ($52k) | ($900k) | ($600k) | ($1.6m) | ($3.5m) | ($1.3m) | ($2.2m) | ($2.2m) | |
| Return of investment in unconsolidated ventures | $12.2m | $5.7m | $11.4m | $100k | $4.3m | $2.6m | $1.6m | $0 | $0 | $900k | |
| Proceeds from sale of assets | $18.3m | $427.8m | $130.1m | $0 | $1.3m | $0 | $3.2m | $1.6m | $9.5m | $4.5m | |
| Additions to debt | $11.5m | $3.2m | $3.0m | $435.0m | — | — | — | $0 | $0 | $780.0m | |
| Deferred financing fees | ($295k) | $0 | ($313k) | ($6.9m) | ($5.3m) | ($4.9m) | $0 | $0 | $0 | ($6.2m) | |
| Stock issued under employee benefit plans | — | — | — | — | — | — | — | $0 | $0 | $500k | |
| Note payable issued for real estate | — | — | — | $0 | $0 | $12.5m | $0 | $0 | $9.9m | $0 | |
| Net Cash Provided by (Used in) Operating Activities | $35.1m | $66.9m | ($16.2m) | ($391.2m) | $168.4m | ($303.1m) | $108.7m | $364.1m | ($158.4m) | ($197.7m) | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | — | — | — | — | $600k | $1.6m | $3.5m | $1.3m | $2.2m | $2.2m | |
| Capital Expenditure Reported | $14.7m | $6.1m | $52k | $900k | $600k | $1.6m | ($3.5m) | ($1.3m) | ($2.2m) | ($2.2m) | |
| Net Other Investing Changes | — | — | — | — | — | — | $3.2m | $1.6m | $9.5m | $4.5m | |
| Net Cash Provided by (Used in) Investing Activities | ($60.3m) | $420.7m | $134.5m | ($800k) | $5.0m | $1.0m | $1.3m | $300k | $7.3m | $3.2m | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $11.5m | $3.2m | $3.0m | $435.0m | — | — | — | — | — | — | |
| Issuance Of Debt | — | — | — | — | — | — | $0 | $0 | $0 | $780.0m | |
| Long Term Debt Issuance | — | — | — | — | — | — | $0 | $0 | $0 | $780.0m | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $0 | ($12.5m) | $0 | $100.0m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $0 | ($12.5m) | $0 | $100.0m | |
| Repayments of Long-term Debt | $58.2m | $315.2m | $10.0m | $85.0m | — | — | — | — | — | — | |
| Long Term Debt Payments | — | — | — | — | — | — | $0 | ($12.5m) | $0 | ($680.0m) | |
| Repayment Of Debt | — | — | — | — | — | — | $0 | ($12.5m) | $0 | ($680.0m) | |
| Repayment of debt | — | — | — | — | — | — | $0 | $12.5m | $0 | $680.0m | |
| Proceeds from Issuance of Common Stock | — | — | $0 | $100.7m | $0 | $33.4m | $1.7m | $0 | $19.7m | $0 | |
| Common Stock Issuance | — | — | — | — | — | — | $1.7m | $0 | $19.7m | $0 | |
| Net Common Stock Issuance | — | — | — | — | — | — | $1.2m | ($700k) | $16.3m | ($1.8m) | |
| Issuance of common stock | — | — | $0 | $100.7m | $0 | $33.4m | $1.7m | $0 | $19.7m | $0 | |
| Payments for Repurchase of Common Stock | $0 | $3.5m | $0 | — | — | — | — | — | — | — | |
| Common Stock Payments | — | — | — | — | — | — | ($500k) | ($700k) | ($3.4m) | ($1.8m) | |
| Proceeds from (Payments to) Noncontrolling Interests | — | — | — | — | — | ($2.4m) | $0 | $0 | — | — | |
| Proceeds from (Payments for) Other Financing Activities | — | ($103k) | $0 | — | — | — | — | — | — | — | |
| Net Other Financing Charges | — | — | — | — | — | ($7.4m) | — | — | — | ($6.2m) | |
| Net Cash Provided by (Used in) Financing Activities | ($48.5m) | ($318.3m) | ($62.3m) | $439.8m | $174.9m | $61.4m | $1.2m | ($13.2m) | $16.3m | $92.5m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $47.8m | $11.5m | ($240.7m) | $111.2m | $351.2m | ($134.8m) | ($102.0m) | |
| (Decrease) increase in cash and cash equivalents | — | — | $96.7m | $47.8m | $11.5m | ($240.7m) | $111.2m | $351.2m | ($134.8m) | ($102.0m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $363.0m | $382.8m | $394.3m | $153.6m | $264.8m | $616.0m | $481.2m | $379.2m | |
| Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance | — | — | $363.0m | $382.8m | $394.3m | $153.6m | $264.8m | $616.0m | $481.2m | $379.2m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $111.2m | $351.2m | ($134.8m) | ($102.0m) | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $27.3m | $14.8m | $4.9m | $0 | $0 | — | — | — | — | — | |
| Income Taxes Paid, Net | ($4.1m) | $10.2m | ($2.7m) | ($1.7m) | ($3.1m) | $4.3m | $42.4m | $44.7m | $45.7m | $30.8m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.