The following table summarizes the Company’s interest costs incurred, capitalized and expensed during the three and nine months ended June 30, 2026 and 2025:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2026		2025		2026		2025
	(In millions)
Capitalized interest, beginning of period	$	485.8	$	394.5	$	438.7	$	355.1
Interest incurred (1)	73.4		71.3		189.9		173.2
Interest charged to cost of sales	(46.1)		(38.4)		(115.5)		(100.9)
Capitalized interest, end of period	$	513.1	$	427.4	$	513.1	$	427.4

(1) Interest incurred includes (a) interest on the Company’s mortgage repurchase facilities of $7.6 million and $16.6 million in the three and nine months ended June 30, 2026, respectively, and $10.3 million and $25.8 million in the prior year periods; (b) Forestar interest of $12.4 million and $37.4 million in the three and nine months ended June 30, 2026, respectively, and $13.4 million and $32.3 million in the prior year periods; and (c) interest on the rental revolving credit facility of $10.1 million and $29.5 million in the three and nine months ended June 30, 2026, respectively, and $16.6 million and $45.3 million in the prior year periods.