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Supplemental Guarantor Information (Tables) | 6 Months Ended
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Apr. 30, 2013
Supplemental Guarantor Information [Abstract] |
Senior Notes issued by Subsidiary Issuer [Table Text Block] | A 100% owned subsidiary of the Company, Toll Brothers Finance Corp. (the “Subsidiary Issuer”), has issued the following Senior Notes (amounts in thousands):
|  | Original Amount Issued |  | Amount outstanding at April 30, 2013
| 5.95% Senior Notes due 2013 | $ | 250,000 |  |  | $ | 104,785 |
| 4.95% Senior Notes due 2014 | $ | 300,000 |  |  | $ | 267,960 |
| 5.15% Senior Notes due 2015 | $ | 300,000 |  |  | $ | 300,000 |
| 8.91% Senior Notes due 2017 | $ | 400,000 |  |  | $ | 400,000 |
| 6.75% Senior Notes due 2019 | $ | 250,000 |  |  | $ | 250,000 |
| 5.875% Senior Notes due 2022 | $ | 419,876 |  |  | $ | 419,876 |
| 4.375% Senior Notes due 2023 | $ | 300,000 |  |  | $ | 300,000 |
| 0.5% Exchangeable Senior Notes due 2032 | $ | 287,500 |  |  | $ | 287,500 |
Summary financial information of new guarantors [Table Text Block] | Summary financial information related to the transfer of certain Non-Guarantor Subsidiaries to Guarantor Subsidiaries and the reclassification of guarantor and non-guarantor intercompany advances and equity balances, resulting in a decrease in Non-Guarantor Subsidiaries amounts, is presented below (amounts in thousands).
| April 30, 2013 |  | October 31, 2012
Inventory | $ | 214,313 |  |  | $ | 168,218 |
Investments in and advances to unconsolidated entities | $ | 103,871 |  |  | $ | 110,014 |
Total assets | $ | 327,574 |  |  | $ | 282,638 |
Loans payable | $ | 14,576 |  |  | $ | 30,424 |
Intercompany advances | $ | 303,879 |  |  | $ | 253,550 |
Total liabilities | $ | 333,865 |  |  | $ | 291,990 |
Equity | $ | (6,291 | ) |  | $ | (9,352 | )
| Six months ended April 30, |  | Three months ended April 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Revenue | $ | 24,316 |  |  | $ | — |  |  | $ | 13,872 |  |  | $ | — |
Operating income | $ | 2,930 |  |  | $ | (673 | ) |  | $ | 1,937 |  |  | $ | (428 | )
Income before income taxes | $ | 5,030 |  |  | $ | 958 |  |  | $ | 4,027 |  |  | $ | 1,187 |
Supplemental statement of cash flow reconciliation [Table Text Block] | Following is a reconciliation of the amounts previously reported to the reclassified amounts as stated in the following components of the revised condensed consolidating statements of cash flows for the six-month period ended April 30, 2012.
| As Previously Reported |  | Reclassification of intercompany activity |  | Change in status from Non-Guarantor to Guarantor |  | As Reclassified
Cash flow (used in) provided by operating activities: |  |  |  |  |  |  |
Net cash (used in) provided by operating activities: |  |  |  |  |  |  |
Toll Brothers, Inc. | $ | (16,905 | ) |  | $ | (9,460 | ) |  | $ | — |  |  | $ | (26,365 | )
Subsidiary Issuer | $ | (296,227 | ) |  | $ | 300,492 |  |  | $ | — |  |  | $ | 4,265 |
Guarantor Subsidiaries | $ | (61,438 | ) |  | $ | (268,885 | ) |  | $ | 95,972 |  |  | $ | (234,351 | )
Non-Guarantor Subsidiaries | $ | 101,711 |  |  | $ | (8,953 | ) |  | $ | (94,191 | ) |  | $ | (1,433 | )
Elimination | $ | — |  |  | $ | (13,194 | ) |  | $ | — |  |  | $ | (13,194 | )
Cash flow (used in) provided by investing activities: |  |  |  |  |  |  |
Intercompany advances |  |  |  |  |  |  |
Toll Brothers, Inc. | $ | — |  |  | $ | 9,460 |  |  | $ | — |  |  | $ | 9,460 |
Subsidiary Issuer | $ | — |  |  | $ | (300,492 | ) |  | $ | — |  |  | $ | (300,492 | )
Guarantor Subsidiaries | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Non-Guarantor Subsidiaries | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Elimination | $ | — |  |  | $ | 291,032 |  |  | $ | — |  |  | $ | 291,032 |
Net cash (used in) provided by investing activities |  |  |  |  |  |  |
Toll Brothers, Inc. | $ | — |  |  | $ | 9,460 |  |  | $ | — |  |  | $ | 9,460 |
Subsidiary Issuer | $ | — |  |  | $ | (300,492 | ) |  | $ | — |  |  | $ | (300,492 | )
Guarantor Subsidiaries | $ | (58,270 | ) |  | $ | — |  |  | $ | (1,602 | ) |  | $ | (59,872 | )
Non-Guarantor Subsidiaries | $ | (149,688 | ) |  | $ | — |  |  | $ | (179 | ) |  | $ | (149,867 | )
Elimination | $ | — |  |  | $ | 291,032 |  |  | $ | — |  |  | $ | 291,032 |
Cash flow provided by (used in) financing activities: |  |  |  |  |  |  |
Intercompany advances |  |  |  |  |  |  |
Toll Brothers, Inc. | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Subsidiary Issuer | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Guarantor Subsidiaries | $ | — |  |  | $ | 268,885 |  |  | $ | (95,552 | ) |  | $ | 173,333 |
Non-Guarantor Subsidiaries | $ | — |  |  | $ | 8,953 |  |  | $ | 95,552 |  |  | $ | 104,505 |
Elimination | $ | — |  |  | $ | (277,838 | ) |  | $ | — |  |  | $ | (277,838 | )
Net cash provided by (used in) financing activities |  |  |  |  |  |  |
Toll Brothers, Inc. | $ | 16,905 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,905 |
Subsidiary Issuer | $ | 296,227 |  |  | $ | — |  |  | $ | — |  |  | $ | 296,227 |
Guarantor Subsidiaries | $ | (17,074 | ) |  | $ | 268,885 |  |  | $ | (96,083 | ) |  | $ | 155,728 |
Non-Guarantor Subsidiaries | $ | (12,543 | ) |  | $ | 8,953 |  |  | $ | 96,083 |  |  | $ | 92,493 |
Elimination | $ | — |  |  | $ | (277,838 | ) |  | $ | — |  |  | $ | (277,838 | )
Supplemental Consolidated Financial Information | Condensed Consolidating Balance Sheet at April 30, 2013:
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | — |  |  | — |  |  | 608,939 |  |  | 94,162 |  |  | — |  |  | 703,101 |
Marketable securities |  |  |  |  | 192,562 |  |  | 40,337 |  |  |  |  | 232,899 |
Restricted cash | 15,134 |  |  |  |  | 17,198 |  |  | 1,469 |  |  |  |  | 33,801 |
Inventory |  |  |  |  | 4,304,896 |  |  | 62,321 |  |  |  |  | 4,367,217 |
Property, construction and office equipment, net |  |  |  |  | 110,624 |  |  | 14,665 |  |  |  |  | 125,289 |
Receivables, prepaid expenses and other assets | 76 |  |  | 16,363 |  |  | 87,111 |  |  | 82,416 |  |  | (20,221 | ) |  | 165,745 |
Mortgage loans held for sale |  |  |  |  |  |  | 66,538 |  |  |  |  | 66,538 |
Customer deposits held in escrow |  |  |  |  | 45,304 |  |  |  |  |  |  |  | 45,304 |
Investments in and advances to unconsolidated entities |  |  |  |  | 183,475 |  |  | 174,057 |  |  |  |  | 357,532 |
Investments in distressed loans |  |  |  |  |  |  |  | 48,707 |  |  |  |  | 48,707 |
Investments in foreclosed real estate |  |  |  |  |  |  |  | 71,458 |  |  |  |  | 71,458 |
Investments in and advances to consolidated entities | 2,894,431 |  |  | 2,334,391 |  |  | 4,740 |  |  |  |  |  | (5,233,562 | ) |  | — |
Deferred tax assets, net of valuation allowances | 341,014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 341,014 |
| 3,250,655 |  |  | 2,350,754 |  |  | 5,554,849 |  |  | 656,130 |  |  | (5,253,783 | ) |  | 6,558,605 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans payable |  |  |  |  | 96,572 |  |  |  |  |  |  |  | 96,572 |
Senior notes |  |  | 2,278,941 |  |  |  |  |  |  | 43,456 |  |  | 2,322,397 |
Mortgage company warehouse loan |  |  |  |  |  |  | 58,526 |  |  |  |  | 58,526 |
Customer deposits |  |  |  |  | 205,821 |  |  |  |  |  |  |  | 205,821 |
Accounts payable |  |  |  |  | 149,383 |  |  | 218 |  |  |  |  | 149,601 |
Accrued expenses |  |  | 26,527 |  |  | 327,662 |  |  | 135,412 |  |  | (20,368 | ) |  | 469,233 |
Advances from consolidated entities |  |  |  |  |  | 1,573,146 |  |  | 427,742 |  |  | (2,000,888 | ) |  | — |
Income taxes payable | 84,157 |  |  |  |  |  |  |  |  |  |  |  | 84,157 |
Total liabilities | 84,157 |  |  | 2,305,468 |  |  | 2,352,584 |  |  | 621,898 |  |  | (1,977,800 | ) |  | 3,386,307 |
Equity: |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |
Common stock | 1,693 |  |  |  |  | 48 |  |  | 3,006 |  |  | (3,054 | ) |  | 1,693 |
Additional paid-in capital | 418,844 |  |  | 49,400 |  |  |  |  |  | 1,734 |  |  | (51,134 | ) |  | 418,844 |
Retained earnings | 2,750,503 |  |  | (4,114 | ) |  | 3,202,547 |  |  | 23,362 |  |  | (3,221,795 | ) |  | 2,750,503 |
Treasury stock, at cost | (78 | ) |  |  |  |  |  |  |  |  |  | (78 | )
Accumulated other comprehensive loss | (4,464 | ) |  |  |  | (330 | ) |  | (67 | ) |  |  |  |  | (4,861 | )
Total stockholders’ equity | 3,166,498 |  |  | 45,286 |  |  | 3,202,265 |  |  | 28,035 |  |  | (3,275,983 | ) |  | 3,166,101 |
Noncontrolling interest |  |  |  |  |  |  | 6,197 |  |  |  |  | 6,197 |
Total equity | 3,166,498 |  |  | 45,286 |  |  | 3,202,265 |  |  | 34,232 |  |  | (3,275,983 | ) |  | 3,172,298 |
| 3,250,655 |  |  | 2,350,754 |  |  | 5,554,849 |  |  | 656,130 |  |  | (5,253,783 | ) |  | 6,558,605 |
Revised Condensed Consolidating Balance Sheet at October 31, 2012:
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | — |  |  | — |  |  | 712,024 |  |  | 66,800 |  |  | — |  |  | 778,824 |
Marketable securities |  |  |  |  | 378,858 |  |  | 60,210 |  |  |  |  | 439,068 |
Restricted cash | 28,268 |  |  |  |  | 17,561 |  |  | 1,447 |  |  |  |  | 47,276 |
Inventory |  |  |  |  | 3,695,895 |  |  | 65,292 |  |  |  |  | 3,761,187 |
Property, construction and office equipment, net |  |  |  |  | 106,963 |  |  | 3,008 |  |  |  |  | 109,971 |
Receivables, prepaid expenses and other assets | 134 |  |  | 15,130 |  |  | 80,932 |  |  | 64,543 |  |  | (16,181 | ) |  | 144,558 |
Mortgage loans held for sale |  |  |  |  |  |  | 86,386 |  |  |  |  | 86,386 |
Customer deposits held in escrow |  |  |  |  | 27,312 |  |  | 2,267 |  |  |  |  | 29,579 |
Investments in and advances to unconsolidated entities |  |  |  |  | 180,159 |  |  | 150,458 |  |  |  |  | 330,617 |
Investments in distressed loans |  |  |  |  |  |  |  | 37,169 |  |  |  |  | 37,169 |
Investments in foreclosed real estate |  |  |  |  |  |  |  |  |  | 58,353 |  |  |  |  |  | 58,353 |
Investments in and advances to consolidated entities | 2,816,607 |  |  | 2,092,810 |  |  | 4,740 |  |  |  |  |  | (4,914,157 | ) |  | — |
Deferred tax assets, net of valuation allowances | 358,056 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 358,056 |
| 3,203,065 |  |  | 2,107,940 |  |  | 5,204,444 |  |  | 595,933 |  |  | (4,930,338 | ) |  | 6,181,044 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans payable |  |  |  |  | 99,817 |  |  |  |  |  |  |  | 99,817 |
Senior notes |  |  | 2,032,335 |  |  |  |  |  |  | 48,128 |  |  | 2,080,463 |
Mortgage company warehouse loan |  |  |  |  |  |  | 72,664 |  |  |  |  | 72,664 |
Customer deposits |  |  |  |  | 142,919 |  |  | 58 |  |  |  |  | 142,977 |
Accounts payable |  |  |  |  | 99,889 |  |  | 22 |  |  |  |  | 99,911 |
Accrued expenses |  |  | 27,476 |  |  | 344,555 |  |  | 115,922 |  |  | (11,603 | ) |  | 476,350 |
Advances from consolidated entities |  |  |  |  |  | 1,342,213 |  |  | 378,946 |  |  | (1,721,159 | ) |  | — |
Income taxes payable | 80,991 |  |  |  |  |  |  |  |  |  |  |  | 80,991 |
Total liabilities | 80,991 |  |  | 2,059,811 |  |  | 2,029,393 |  |  | 567,612 |  |  | (1,684,634 | ) |  | 3,053,173 |
Equity: |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |
Common stock | 1,687 |  |  |  |  | 48 |  |  | 3,006 |  |  | (3,054 | ) |  | 1,687 |
Additional paid-in capital | 404,418 |  |  | 49,400 |  |  |  |  |  | 1,734 |  |  | (51,134 | ) |  | 404,418 |
Retained earnings | 2,721,397 |  |  | (1,271 | ) |  | 3,175,370 |  |  | 17,417 |  |  | (3,191,516 | ) |  | 2,721,397 |
Treasury stock, at cost | (983 | ) |  |  |  |  |  |  |  |  |  | (983 | )
Accumulated other comprehensive loss | (4,445 | ) |  |  |  | (367 | ) |  | (7 | ) |  |  |  |  | (4,819 | )
Total stockholders’ equity | 3,122,074 |  |  | 48,129 |  |  | 3,175,051 |  |  | 22,150 |  |  | (3,245,704 | ) |  | 3,121,700 |
Noncontrolling interest |  |  |  |  |  |  | 6,171 |  |  |  |  | 6,171 |
Total equity | 3,122,074 |  |  | 48,129 |  |  | 3,175,051 |  |  | 28,321 |  |  | (3,245,704 | ) |  | 3,127,871 |
| 3,203,065 |  |  | 2,107,940 |  |  | 5,204,444 |  |  | 595,933 |  |  | (4,930,338 | ) |  | 6,181,044 |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the six months ended April 30, 2013 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 953,625 |  |  | 35,383 |  |  | (48,403 | ) |  | 940,605 |
Cost of revenues |  |  |  |  | 772,981 |  |  | 9,935 |  |  | (16,966 | ) |  | 765,950 |
Selling, general and administrative | 61 |  |  | 1,402 |  |  | 170,586 |  |  | 21,057 |  |  | (35,509 | ) |  | 157,597 |
| 61 |  |  | 1,402 |  |  | 943,567 |  |  | 30,992 |  |  | (52,475 | ) |  | 923,547 |
Income (loss) from operations | (61 | ) |  | (1,402 | ) |  | 10,058 |  |  | 4,391 |  |  | 4,072 |  |  | 17,058 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 5,040 |  |  | 3,036 |  |  |  |  | 8,076 |
Other income - net | 4,685 |  |  |  |  |  | 24,472 |  |  | 2,567 |  |  | (7,564 | ) |  | 24,160 |
Intercompany interest income |  |  | 60,060 |  |  |  |  |  |  |  |  | (60,060 | ) |  | — |
Interest expense |  |  | (63,330 | ) |  |  |  |  | (222 | ) |  | 63,552 |  |  | — |
Income from subsidiaries | 44,670 |  |  |  |  | 5,100 |  |  |  |  | (49,770 | ) |  | — |
Income (loss) before income taxes | 49,294 |  |  | (4,672 | ) |  | 44,670 |  |  | 9,772 |  |  | (49,770 | ) |  | 49,294 |
Income tax provision (benefit) | 20,188 |  |  | (1,830 | ) |  | 17,493 |  |  | 3,827 |  |  | (19,490 | ) |  | 20,188 |
Net income (loss) | 29,106 |  |  | (2,842 | ) |  | 27,177 |  |  | 5,945 |  |  | (30,280 | ) |  | 29,106 |
Other comprehensive (loss) income | (18 | ) |  |  |  |  | 36 |  |  | (60 | ) |  |  |  |  | (42 | )
Total comprehensive income (loss) | 29,088 |  |  | (2,842 | ) |  | 27,213 |  |  | 5,885 |  |  | (30,280 | ) |  | 29,064 |
Revised Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the six months ended April 30, 2012 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 711,351 |  |  | 25,622 |  |  | (41,337 | ) |  | 695,636 |
Cost of revenues |  |  |  |  | 581,320 |  |  | 2,744 |  |  | (5,635 | ) |  | 578,429 |
Selling, general and administrative | 27 |  |  | 1,782 |  |  | 149,441 |  |  | 18,961 |  |  | (32,318 | ) |  | 137,893 |
| 27 |  |  | 1,782 |  |  | 730,761 |  |  | 21,705 |  |  | (37,953 | ) |  | 716,322 |
Loss from operations | (27 | ) |  | (1,782 | ) |  | (19,410 | ) |  | 3,917 |  |  | (3,384 | ) |  | (20,686 | )
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 10,803 |  |  | 2,873 |  |  |  |  | 13,676 |
Other income - net | 20 |  |  |  |  |  | 7,594 |  |  | 3,471 |  |  | 5,166 |  |  | 16,251 |
Intercompany interest income |  |  | 57,891 |  |  |  |  |  |  |  |  | (57,891 | ) |  | — |
Interest expense |  |  | (56,109 | ) |  |  |  |  |  |  |  | 56,109 |  |  | — |
Income from subsidiaries | 9,248 |  |  |  |  | 10,261 |  |  |  |  | (19,509 | ) |  | — |
Income before income taxes | 9,241 |  |  | — |  |  | 9,248 |  |  | 10,261 |  |  | (19,509 | ) |  | 9,241 |
Income tax benefit | (4,845 | ) |  |  |  | (4,849 | ) |  | (5,380 | ) |  | 10,229 |  |  | (4,845 | )
Net income | 14,086 |  |  | — |  |  | 14,097 |  |  | 15,641 |  |  | (29,738 | ) |  | 14,086 |
Other comprehensive (loss) income | 92 |  |  |  |  |  | (534 | ) |  | (38 | ) |  |  |  |  | (480 | )
Total comprehensive income | 14,178 |  |  | — |  |  | 13,563 |  |  | 15,603 |  |  | (29,738 | ) |  | 13,606 |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the three months ended April 30, 2013 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 523,403 |  |  | 20,337 |  |  | (27,736 | ) |  | 516,004 |
Cost of revenues |  |  |  |  | 424,278 |  |  | 5,704 |  |  | (9,969 | ) |  | 420,013 |
Selling, general and administrative | 45 |  |  | 715 |  |  | 86,079 |  |  | 10,916 |  |  | (18,205 | ) |  | 79,550 |
| 45 |  |  | 715 |  |  | 510,357 |  |  | 16,620 |  |  | (28,174 | ) |  | 499,563 |
Income (loss) from operations | (45 | ) |  | (715 | ) |  | 13,046 |  |  | 3,717 |  |  | 438 |  |  | 16,441 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 3,890 |  |  | 1,103 |  |  |  |  | 4,993 |
Other income - net | 2,299 |  |  |  |  |  | 18,477 |  |  | 833 |  |  | (2,075 | ) |  | 19,534 |
Intercompany interest income |  |  | 30,333 |  |  |  |  |  |  |  |  | (30,333 | ) |  | — |
Interest expense |  |  | (31,908 | ) |  |  |  |  | (62 | ) |  | 31,970 |  |  | — |
Income from subsidiaries | 38,714 |  |  |  |  | 3,301 |  |  |  |  | (42,015 | ) |  | — |
Income (loss) before income taxes | 40,968 |  |  | (2,290 | ) |  | 38,714 |  |  | 5,591 |  |  | (42,015 | ) |  | 40,968 |
Income tax provision (benefit) | 16,294 |  |  | (897 | ) |  | 15,160 |  |  | 2,189 |  |  | (16,452 | ) |  | 16,294 |
Net income (loss) | 24,674 |  |  | (1,393 | ) |  | 23,554 |  |  | 3,402 |  |  | (25,563 | ) |  | 24,674 |
Other comprehensive (loss) income | 155 |  |  |  |  |  | (189 | ) |  | (24 | ) |  |  |  |  | (58 | )
Total comprehensive income (loss) | 24,829 |  |  | (1,393 | ) |  | 23,365 |  |  | 3,378 |  |  | (25,563 | ) |  | 24,616 |
Revised Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the three months ended April 30, 2012 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 383,659 |  |  | 13,236 |  |  | (23,214 | ) |  | 373,681 |
Cost of revenues |  |  |  |  | 308,436 |  |  | 824 |  |  | (2,439 | ) |  | 306,821 |
Selling, general and administrative | 14 |  |  | 1,304 |  |  | 75,909 |  |  | 9,687 |  |  | (18,658 | ) |  | 68,256 |
| 14 |  |  | 1,304 |  |  | 384,345 |  |  | 10,511 |  |  | (21,097 | ) |  | 375,077 |
(Loss) income from operations | (14 | ) |  | (1,304 | ) |  | (686 | ) |  | 2,725 |  |  | (2,117 | ) |  | (1,396 | )
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 5,574 |  |  | 1,415 |  |  |  |  | 6,989 |
Other income - net | 13 |  |  |  |  |  | 4,614 |  |  | 2,678 |  |  | 2,751 |  |  | 10,056 |
Intercompany interest income |  |  | 32,127 |  |  |  |  |  |  |  |  | (32,127 | ) |  | — |
Interest expense |  |  | (30,823 | ) |  |  |  |  |  |  |  | 30,823 |  |  | — |
Income from subsidiaries | 15,650 |  |  |  |  | 6,148 |  |  |  |  | (21,798 | ) |  | — |
Income before income taxes | 15,649 |  |  | — |  |  | 15,650 |  |  | 6,818 |  |  | (22,468 | ) |  | 15,649 |
Income tax benefit | (1,223 | ) |  |  |  | (1,231 | ) |  | (7,326 | ) |  | 8,557 |  |  | (1,223 | )
Net income | 16,872 |  |  | — |  |  | 16,881 |  |  | 14,144 |  |  | (31,025 | ) |  | 16,872 |
Other comprehensive income (loss) | 201 |  |  |  |  |  | 18 |  |  | (38 | ) |  |  |  |  | 181 |
Total comprehensive income | 17,073 |  |  | — |  |  | 16,899 |  |  | 14,106 |  |  | (31,025 | ) |  | 17,053 |
Condensed Consolidating Statement of Cash Flows for the six months ended April 30, 2013 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash (used in) provided by operating activities | 45,380 |  |  | 2,599 |  |  | (484,680 | ) |  | 3,688 |  |  | (12,395 | ) |  | (445,408 | )
Cash flow provided by (used in) investing activities: |  |  |  |  |  |  |  |  |  |  |
Purchase of property and equipment - net |  |  |  |  | (8,588 | ) |  | (11,676 | ) |  |  |  | (20,264 | )
Purchase of marketable securities |  |  |  |  | (25,938 | ) |  | (10,224 | ) |  |  |  | (36,162 | )
Sale and redemption of marketable securities |  |  |  |  | 209,484 |  |  | 30,000 |  |  |  |  | 239,484 |
Investments in and advances to unconsolidated entities |  |  |  |  | (21,637 | ) |  | (10,357 | ) |  |  |  | (31,994 | )
Return of investments in unconsolidated entities |  |  |  |  | 23,437 |  |  | 11,249 |  |  |  |  | 34,686 |
Investments in distressed loans and foreclosed real estate |  |  |  |  |  |  |  | (26,155 | ) |  |  |  | (26,155 | )
Return of investments in distressed loans and foreclosed real estate |  |  |  |  |  |  | 6,114 |  |  |  |  | 6,114 |
Intercompany advances | (53,632 | ) |  | (241,581 | ) |  |  |  |  |  |  | 295,213 |  |  | — |
Net cash provided by (used in) investing activities | (53,632 | ) |  | (241,581 | ) |  | 176,758 |  |  | (11,049 | ) |  | 295,213 |  |  | 165,709 |
Cash flow provided by (used in) financing activities: |  |  |  |  |  |  |  |  |  |  |
Net proceeds from issuance of senior notes |  |  | 298,050 |  |  |  |  |  |  |  |  |  | 298,050 |
Proceeds from loans payable |  |  |  |  |  |  | 501,884 |  |  |  |  | 501,884 |
Principal payments of loans payable |  |  |  |  | (29,153 | ) |  | (516,022 | ) |  |  |  | (545,175 | )
Redemption of senior notes |  |  |  | (59,068 | ) |  |  |  |  |  |  |  | (59,068 | )
Proceeds from stock-based benefit plans | 8,430 |  |  |  |  |  |  |  |  |  |  | 8,430 |
Receipts related to non-controlling interest |  |  |  |  |  |  |  | 33 |  |  |  |  | 33 |
Purchase of treasury stock | (178 | ) |  |  |  |  |  |  |  |  |  | (178 | )
Intercompany advances |  |  |  |  |  | 233,990 |  |  | 48,828 |  |  | (282,818 | ) |  | — |
Net cash provided by financing activities | 8,252 |  |  | 238,982 |  |  | 204,837 |  |  | 34,723 |  |  | (282,818 | ) |  | 203,976 |
Net (decrease) increase in cash and cash equivalents | — |  |  | — |  |  | (103,085 | ) |  | 27,362 |  |  | — |  |  | (75,723 | )
Cash and cash equivalents, beginning of period | — |  |  | — |  |  | 712,024 |  |  | 66,800 |  |  | — |  |  | 778,824 |
Cash and cash equivalents, end of period | — |  |  | — |  |  | 608,939 |  |  | 94,162 |  |  | — |  |  | 703,101 |
Revised Condensed Consolidating Statement of Cash Flows for the six months ended April 30, 2012 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash (used in) provided by operating activities | (26,365 | ) |  | 4,265 |  |  | (234,351 | ) |  | (1,433 | ) |  | (13,194 | ) |  | (271,078 | )
Cash flow (used in) provided by investing activities: |  |  |  |  |  |  |  |  |  |  |
Purchase of property and equipment — net |  |  |  |  | (6,487 | ) |  | (41 | ) |  |  |  | (6,528 | )
Purchase of marketable securities |  |  |  |  | (117,781 | ) |  | (60,052 | ) |  |  |  | (177,833 | )
Sale and redemption of marketable securities |  |  |  |  | 189,716 |  |  |  |  |  |  |  | 189,716 |
Investments in and advances to unconsolidated entities |  |  |  |  | (1,142 | ) |  | (73,866 | ) |  |  |  | (75,008 | )
Return of investments in unconsolidated entities |  |  |  |  | 20,568 |  |  |  |  |  |  | 20,568 |
Investments in distressed loans and foreclosed real estate |  |  |  |  |  |  |  | (27,490 | ) |  |  |  | (27,490 | )
Return of investments in distressed loans and foreclosed real estate |  |  |  |  |  |  |  | 11,582 |  |  |  |  | 11,582 |
Acquisition of a business |  |  |  |  | (144,746 | ) |  |  |  |  |  | (144,746 | )
Intercompany advances | 9,460 |  |  | (300,492 | ) |  |  |  |  |  | 291,032 |  |  | — |
Net cash (used in) provided by investing activities | 9,460 |  |  | (300,492 | ) |  | (59,872 | ) |  | (149,867 | ) |  | 291,032 |  |  | (209,739 | )
Cash flow provided by (used in) financing activities: |  |  |  |  |  |  |  |  |  |  |
Net proceeds from issuance of senior notes |  |  | 296,227 |  |  |  |  |  |  |  |  |  | 296,227 |
Proceeds from loans payable |  |  |  |  |  |  | 400,092 |  |  |  |  | 400,092 |
Principal payments of loans payable |  |  |  |  | (17,605 | ) |  | (412,104 | ) |  |  |  | (429,709 | )
Proceeds from stock-based benefit plans | 17,189 |  |  |  |  |  |  |  |  |  |  | 17,189 |
Purchase of treasury stock | (284 | ) |  |  |  |  |  |  |  |  |  | (284 | )
Intercompany advances |  |  |  |  |  | 173,333 |  |  | 104,505 |  |  | (277,838 | ) |  | — |
Net cash provided by financing activities | 16,905 |  |  | 296,227 |  |  | 155,728 |  |  | 92,493 |  |  | (277,838 | ) |  | 283,515 |
Net decrease in cash and cash equivalents | — |  |  | — |  |  | (138,495 | ) |  | (58,807 | ) |  | — |  |  | (197,302 | )
Cash and cash equivalents, beginning of period | — |  |  | — |  |  | 777,013 |  |  | 129,327 |  |  | — |  |  | 906,340 |
Cash and cash equivalents, end of period | — |  |  | — |  |  | 638,518 |  |  | 70,520 |  |  | — |  |  | 709,038 |

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