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Supplemental Guarantor Information (Tables) | 9 Months Ended
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Jul. 31, 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 July 31, 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 | $ | 400,000 |  |  | $ | 400,000 |
| 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):
|  | October 31, 2012
Inventory |  | $ | 212,504 |
Investments in and advances to unconsolidated entities |  | $ | 110,014 |
Total assets |  | $ | 326,924 |
Loans payable |  | $ | 30,424 |
Intercompany advances |  | $ | 281,584 |
Total liabilities |  | $ | 322,024 |
Equity |  | $ | 4,900 |
|  | Nine months ended July 31, 2012 |  | Three months ended July 31, 2012
Revenue |  | $ | — |  |  | $ | — |
Operating loss |  | $ | (1,294 | ) |  | $ | (508 | )
Income before income taxes |  | $ | 273 |  |  | $ | 1,232 |
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 statement of cash flows for the nine-month period ended July 31, 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. | $ | (24,131 | ) |  | $ | (18,177 | ) |  | $ | — |  |  | $ | (42,308 | )
Subsidiary Issuer | $ | (296,227 | ) |  | $ | 312,000 |  |  | $ | — |  |  | $ | 15,773 |
Guarantor Subsidiaries | $ | (4,319 | ) |  | $ | (169,156 | ) |  | $ | 4,753 |  |  | $ | (168,722 | )
Non-Guarantor Subsidiaries | $ | 90,581 |  |  | $ | (123,540 | ) |  | $ | (2,595 | ) |  | $ | (35,554 | )
Elimination | $ | — |  |  | $ | (1,127 | ) |  | $ | — |  |  | $ | (1,127 | )
Cash flow provided by (used in) investing activities: |  |  |  |  |  |  |
Intercompany advances |  |  |  |  |  |  |
Toll Brothers, Inc. | $ | — |  |  | $ | 18,177 |  |  | $ | — |  |  | $ | 18,177 |
Subsidiary Issuer | $ | — |  |  | $ | (312,000 | ) |  | $ | — |  |  | $ | (312,000 | )
Guarantor Subsidiaries | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Non-Guarantor Subsidiaries | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Elimination | $ | — |  |  | $ | 293,823 |  |  | $ | — |  |  | $ | 293,823 |
Net cash provided by (used in) investing activities |  |  |  |  |  |  |
Toll Brothers, Inc. | $ | — |  |  | $ | 18,177 |  |  | $ | — |  |  | $ | 18,177 |
Subsidiary Issuer | $ | — |  |  | $ | (312,000 | ) |  | $ | — |  |  | $ | (312,000 | )
Guarantor Subsidiaries | $ | (218,666 | ) |  | $ | — |  |  | $ | (5,929 | ) |  | $ | (224,595 | )
Non-Guarantor Subsidiaries | $ | (158,724 | ) |  | $ | — |  |  | $ | 3,771 |  |  | $ | (154,953 | )
Elimination | $ | — |  |  | $ | 293,823 |  |  | $ | — |  |  | $ | 293,823 |
Cash flow provided by (used in) financing activities: |  |  |  |  |  |  |
Intercompany advances |  |  |  |  |  |  |
Toll Brothers, Inc. | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Subsidiary Issuer | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Guarantor Subsidiaries | $ | — |  |  | $ | 169,156 |  |  | $ | — |  |  | $ | 169,156 |
Non-Guarantor Subsidiaries | $ | — |  |  | $ | 123,540 |  |  | $ | — |  |  | $ | 123,540 |
Elimination | $ | — |  |  | $ | (292,696 | ) |  | $ | — |  |  | $ | (292,696 | )
Net cash provided by (used in) financing activities |  |  |  |  |  |  |
Toll Brothers, Inc. | $ | 24,131 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,131 |
Subsidiary Issuer | $ | 296,227 |  |  | $ | — |  |  | $ | — |  |  | $ | 296,227 |
Guarantor Subsidiaries | $ | (18,944 | ) |  | $ | 169,156 |  |  | $ | (536 | ) |  | $ | 149,676 |
Non-Guarantor Subsidiaries | $ | 5,183 |  |  | $ | 123,540 |  |  | $ | 536 |  |  | $ | 129,259 |
Elimination | $ | — |  |  | $ | (292,696 | ) |  | $ | — |  |  | $ | (292,696 | )
Supplemental Consolidated Financial Information | Supplemental consolidating financial information of Toll Brothers, Inc., the Subsidiary Issuer, the Guarantor Subsidiaries, the Non-Guarantor Subsidiaries and the eliminations to arrive at Toll Brothers, Inc. on a consolidated basis is presented below ($ amounts in thousands). Condensed Consolidating Balance Sheet at July 31, 2013:
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | — |  |  | — |  |  | 772,728 |  |  | 126,613 |  |  | — |  |  | 899,341 |
Marketable securities |  |  |  |  | 112,508 |  |  | 10,019 |  |  |  |  | 122,527 |
Restricted cash | 15,094 |  |  |  |  | 17,041 |  |  | 1,281 |  |  |  |  | 33,416 |
Inventory |  |  |  |  | 4,494,099 |  |  | 22,909 |  |  |  |  | 4,517,008 |
Property, construction and office equipment, net |  |  |  |  | 111,836 |  |  | 14,524 |  |  |  |  | 126,360 |
Receivables, prepaid expenses and other assets | 120 |  |  | 16,524 |  |  | 86,904 |  |  | 98,424 |  |  | (27,012 | ) |  | 174,960 |
Mortgage loans held for sale |  |  |  |  |  |  | 72,163 |  |  |  |  | 72,163 |
Customer deposits held in escrow |  |  |  |  | 48,878 |  |  |  |  |  |  |  | 48,878 |
Investments in and advances to unconsolidated entities |  |  |  |  | 173,118 |  |  | 183,719 |  |  |  |  | 356,837 |
Investments in distressed loans |  |  |  |  |  |  |  | 42,500 |  |  |  |  | 42,500 |
Investments in foreclosed real estate |  |  |  |  |  |  |  | 72,912 |  |  |  |  | 72,912 |
Investments in and advances to consolidated entities | 2,953,381 |  |  | 2,455,063 |  |  | 4,740 |  |  |  |  |  | (5,413,184 | ) |  | — |
Deferred tax assets, net of valuation allowances | 320,641 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 320,641 |
| 3,289,236 |  |  | 2,471,587 |  |  | 5,821,852 |  |  | 645,064 |  |  | (5,440,196 | ) |  | 6,787,543 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans payable |  |  |  |  | 97,679 |  |  |  |  |  |  |  | 97,679 |
Senior notes |  |  | 2,384,717 |  |  |  |  |  |  | 41,089 |  |  | 2,425,806 |
Mortgage company warehouse loan |  |  |  |  |  |  | 65,654 |  |  |  |  | 65,654 |
Customer deposits |  |  |  |  | 231,493 |  |  |  |  |  |  |  | 231,493 |
Accounts payable |  |  |  |  | 153,200 |  |  | (37 | ) |  |  |  | 153,163 |
Accrued expenses |  |  | 43,023 |  |  | 350,209 |  |  | 152,336 |  |  | (27,121 | ) |  | 518,447 |
Advances from consolidated entities |  |  |  |  |  | 1,750,366 |  |  | 402,694 |  |  | (2,153,060 | ) |  | — |
Income taxes payable | 78,973 |  |  |  |  |  |  |  |  |  |  |  | 78,973 |
Total liabilities | 78,973 |  |  | 2,427,740 |  |  | 2,582,947 |  |  | 620,647 |  |  | (2,139,092 | ) |  | 3,571,215 |
Equity: |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |
Common stock | 1,693 |  |  |  |  | 48 |  |  | 3,006 |  |  | (3,054 | ) |  | 1,693 |
Additional paid-in capital | 430,191 |  |  | 49,400 |  |  |  |  |  | 1,734 |  |  | (51,134 | ) |  | 430,191 |
Retained earnings (deficits) | 2,797,098 |  |  | (5,553 | ) |  | 3,238,967 |  |  | 13,502 |  |  | (3,246,916 | ) |  | 2,797,098 |
Treasury stock, at cost | (14,218 | ) |  |  |  |  |  |  |  |  |  | (14,218 | )
Accumulated other comprehensive loss | (4,501 | ) |  |  |  | (110 | ) |  | (19 | ) |  |  |  |  | (4,630 | )
Total stockholders’ equity | 3,210,263 |  |  | 43,847 |  |  | 3,238,905 |  |  | 18,223 |  |  | (3,301,104 | ) |  | 3,210,134 |
Noncontrolling interest |  |  |  |  |  |  | 6,194 |  |  |  |  | 6,194 |
Total equity | 3,210,263 |  |  | 43,847 |  |  | 3,238,905 |  |  | 24,417 |  |  | (3,301,104 | ) |  | 3,216,328 |
| 3,289,236 |  |  | 2,471,587 |  |  | 5,821,852 |  |  | 645,064 |  |  | (5,440,196 | ) |  | 6,787,543 |
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 |  |  |  |  | 3,740,181 |  |  | 21,006 |  |  |  |  | 3,761,187 |
Property, construction and office equipment, net |  |  |  |  | 106,963 |  |  | 3,008 |  |  |  |  | 109,971 |
Receivables, prepaid expenses and other assets | 134 |  |  | 15,130 |  |  | 76,192 |  |  | 64,543 |  |  | (11,441 | ) |  | 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 |  |  | 5,243,990 |  |  | 551,647 |  |  | (4,925,598 | ) |  | 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 |  |  |  |  |  | 1,385,475 |  |  | 348,909 |  |  | (1,734,384 | ) |  | — |
Income taxes payable | 80,991 |  |  |  |  |  |  |  |  |  |  |  | 80,991 |
Total liabilities | 80,991 |  |  | 2,059,811 |  |  | 2,072,655 |  |  | 537,575 |  |  | (1,697,859 | ) |  | 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 (deficits) | 2,721,397 |  |  | (1,271 | ) |  | 3,171,654 |  |  | 3,168 |  |  | (3,173,551 | ) |  | 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 |  |  | 3,171,335 |  |  | 7,901 |  |  | (3,227,739 | ) |  | 3,121,700 |
Noncontrolling interest |  |  |  |  |  |  | 6,171 |  |  |  |  | 6,171 |
Total equity | 3,122,074 |  |  | 48,129 |  |  | 3,171,335 |  |  | 14,072 |  |  | (3,227,739 | ) |  | 3,127,871 |
| 3,203,065 |  |  | 2,107,940 |  |  | 5,243,990 |  |  | 551,647 |  |  | (4,925,598 | ) |  | 6,181,044 |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the nine months ended July 31, 2013 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 1,658,184 |  |  | 48,186 |  |  | (76,605 | ) |  | 1,629,765 |
Cost of revenues |  |  |  |  | 1,322,437 |  |  | 7,083 |  |  | (18,481 | ) |  | 1,311,039 |
Selling, general and administrative | 151 |  |  | 2,203 |  |  | 267,627 |  |  | 34,244 |  |  | (57,758 | ) |  | 246,467 |
| 151 |  |  | 2,203 |  |  | 1,590,064 |  |  | 41,327 |  |  | (76,239 | ) |  | 1,557,506 |
Income (loss) from operations | (151 | ) |  | (2,203 | ) |  | 68,120 |  |  | 6,859 |  |  | (366 | ) |  | 72,259 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 5,766 |  |  | 3,078 |  |  |  |  | 8,844 |
Other income - net | 7,059 |  |  |  |  |  | 26,807 |  |  | 7,460 |  |  | (4,882 | ) |  | 36,444 |
Intercompany interest income |  |  | 94,055 |  |  |  |  |  |  |  |  | (94,055 | ) |  | — |
Interest expense |  |  | (98,891 | ) |  |  |  |  | (412 | ) |  | 99,303 |  |  | — |
Income from subsidiaries | 110,639 |  |  |  |  | 9,946 |  |  |  |  | (120,585 | ) |  | — |
Income (loss) before income taxes | 117,547 |  |  | (7,039 | ) |  | 110,639 |  |  | 16,985 |  |  | (120,585 | ) |  | 117,547 |
Income tax provision (benefit) | 41,846 |  |  | (2,757 | ) |  | 43,326 |  |  | 6,651 |  |  | (47,220 | ) |  | 41,846 |
Net income (loss) | 75,701 |  |  | (4,282 | ) |  | 67,313 |  |  | 10,334 |  |  | (73,365 | ) |  | 75,701 |
Other comprehensive income (loss) | (55 | ) |  |  |  |  | 256 |  |  | (12 | ) |  |  |  |  | 189 |
Total comprehensive income (loss) | 75,646 |  |  | (4,282 | ) |  | 67,569 |  |  | 10,322 |  |  | (73,365 | ) |  | 75,890 |
Revised Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the nine months ended July 31, 2012 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 1,273,494 |  |  | 42,581 |  |  | (66,120 | ) |  | 1,249,955 |
Cost of revenues |  |  |  |  | 1,034,761 |  |  | 4,550 |  |  | (12,954 | ) |  | 1,026,357 |
Selling, general and administrative | 54 |  |  | 2,355 |  |  | 233,502 |  |  | 28,598 |  |  | (51,724 | ) |  | 212,785 |
| 54 |  |  | 2,355 |  |  | 1,268,263 |  |  | 33,148 |  |  | (64,678 | ) |  | 1,239,142 |
Income (loss) from operations | (54 | ) |  | (2,355 | ) |  | 5,231 |  |  | 9,433 |  |  | (1,442 | ) |  | 10,813 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 15,475 |  |  | 3,873 |  |  |  |  | 19,348 |
Other income - net | 39 |  |  |  |  |  | 15,209 |  |  | 3,397 |  |  | 3,387 |  |  | 22,032 |
Intercompany interest income |  |  | 86,466 |  |  |  |  |  |  |  |  | (86,466 | ) |  | — |
Interest expense |  |  | (84,111 | ) |  |  |  |  | (410 | ) |  | 84,521 |  |  | — |
Income from subsidiaries | 52,208 |  |  |  |  | 16,293 |  |  |  |  | (68,501 | ) |  | — |
Income before income taxes | 52,193 |  |  | — |  |  | 52,208 |  |  | 16,293 |  |  | (68,501 | ) |  | 52,193 |
Income tax benefit | (23,536 | ) |  |  |  | (23,541 | ) |  | (7,346 | ) |  | 30,887 |  |  | (23,536 | )
Net income | 75,729 |  |  | — |  |  | 75,749 |  |  | 23,639 |  |  | (99,388 | ) |  | 75,729 |
Other comprehensive (loss) income | 293 |  |  |  |  |  | (509 | ) |  | (19 | ) |  |  |  |  | (235 | )
Total comprehensive income | 76,022 |  |  | — |  |  | 75,240 |  |  | 23,620 |  |  | (99,388 | ) |  | 75,494 |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the three months ended July 31, 2013 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 704,559 |  |  | 18,906 |  |  | (34,305 | ) |  | 689,160 |
Cost of revenues |  |  |  |  | 549,456 |  |  | 2,439 |  |  | (6,806 | ) |  | 545,089 |
Selling, general and administrative | 90 |  |  | 801 |  |  | 97,041 |  |  | 13,187 |  |  | (22,249 | ) |  | 88,870 |
| 90 |  |  | 801 |  |  | 646,497 |  |  | 15,626 |  |  | (29,055 | ) |  | 633,959 |
Income (loss) from operations | (90 | ) |  | (801 | ) |  | 58,062 |  |  | 3,280 |  |  | (5,250 | ) |  | 55,201 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 726 |  |  | 42 |  |  |  |  | 768 |
Other income - net | 2,374 |  |  |  |  |  | 2,335 |  |  | 4,081 |  |  | 3,494 |  |  | 12,284 |
Intercompany interest income |  |  | 33,995 |  |  |  |  |  |  |  |  | (33,995 | ) |  | — |
Interest expense |  |  | (35,561 | ) |  |  |  |  | (190 | ) |  | 35,751 |  |  | — |
Income from subsidiaries | 65,969 |  |  |  |  | 4,846 |  |  |  |  | (70,815 | ) |  | — |
Income (loss) before income taxes | 68,253 |  |  | (2,367 | ) |  | 65,969 |  |  | 7,213 |  |  | (70,815 | ) |  | 68,253 |
Income tax provision (benefit) | 21,658 |  |  | (927 | ) |  | 25,833 |  |  | 2,824 |  |  | (27,730 | ) |  | 21,658 |
Net income (loss) | 46,595 |  |  | (1,440 | ) |  | 40,136 |  |  | 4,389 |  |  | (43,085 | ) |  | 46,595 |
Other comprehensive income (loss) | (37 | ) |  |  |  |  | 220 |  |  | 48 |  |  |  |  |  | 231 |
Total comprehensive income (loss) | 46,558 |  |  | (1,440 | ) |  | 40,356 |  |  | 4,437 |  |  | (43,085 | ) |  | 46,826 |
Revised Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the three months ended July 31, 2012 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 562,143 |  |  | 16,959 |  |  | (24,783 | ) |  | 554,319 |
Cost of revenues |  |  |  |  | 453,441 |  |  | 1,806 |  |  | (7,319 | ) |  | 447,928 |
Selling, general and administrative | 27 |  |  | 573 |  |  | 84,061 |  |  | 9,637 |  |  | (19,406 | ) |  | 74,892 |
| 27 |  |  | 573 |  |  | 537,502 |  |  | 11,443 |  |  | (26,725 | ) |  | 522,820 |
Income (loss) from operations | (27 | ) |  | (573 | ) |  | 24,641 |  |  | 5,516 |  |  | 1,942 |  |  | 31,499 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 4,672 |  |  | 1,000 |  |  |  |  | 5,672 |
Other income - net | 19 |  |  |  |  |  | 7,615 |  |  | (134 | ) |  | (1,719 | ) |  | 5,781 |
Intercompany interest income |  |  | 28,575 |  |  |  |  |  |  |  |  | (28,575 | ) |  | — |
Interest expense |  |  | (28,002 | ) |  |  |  |  | (350 | ) |  | 28,352 |  |  | — |
Income from subsidiaries | 42,960 |  |  |  |  | 6,032 |  |  |  |  | (48,992 | ) |  | — |
Income before income taxes | 42,952 |  |  | — |  |  | 42,960 |  |  | 6,032 |  |  | (48,992 | ) |  | 42,952 |
Income tax benefit | (18,691 | ) |  |  |  | (18,692 | ) |  | (1,966 | ) |  | 20,658 |  |  | (18,691 | )
Net income | 61,643 |  |  | — |  |  | 61,652 |  |  | 7,998 |  |  | (69,650 | ) |  | 61,643 |
Other comprehensive income | 201 |  |  |  |  |  | 25 |  |  | 19 |  |  |  |  |  | 245 |
Total comprehensive income | 61,844 |  |  | — |  |  | 61,677 |  |  | 8,017 |  |  | (69,650 | ) |  | 61,888 |
Condensed Consolidating Statement of Cash Flows for the nine months ended July 31, 2013 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash (used in) provided by operating activities | 77,313 |  |  | 20,938 |  |  | (541,461 | ) |  | (3,430 | ) |  | (9,895 | ) |  | (456,535 | )
Cash flow provided by (used in) investing activities: |  |  |  |  |  |  |  |  |  |  |
Purchase of property and equipment - net |  |  |  |  | (12,646 | ) |  | (11,538 | ) |  |  |  | (24,184 | )
Purchase of marketable securities |  |  |  |  | (25,938 | ) |  | (10,264 | ) |  |  |  | (36,202 | )
Sale and redemption of marketable securities |  |  |  |  | 288,332 |  |  | 60,263 |  |  |  |  | 348,595 |
Investments in and advances to unconsolidated entities |  |  |  |  | (25,517 | ) |  | (23,693 | ) |  |  |  | (49,210 | )
Return of investments in unconsolidated entities |  |  |  |  | 38,811 |  |  | 11,642 |  |  |  |  | 50,453 |
Investments in distressed loans and foreclosed real estate |  |  |  |  |  |  |  | (26,155 | ) |  |  |  | (26,155 | )
Return of investments in distressed loans and foreclosed real estate |  |  |  |  |  |  | 15,396 |  |  |  |  | 15,396 |
Intercompany advances | (72,369 | ) |  | (362,253 | ) |  |  |  |  |  |  | 434,622 |  |  | — |
Net cash provided by (used in) investing activities | (72,369 | ) |  | (362,253 | ) |  | 263,042 |  |  | 15,651 |  |  | 434,622 |  |  | 278,693 |
Cash flow provided by (used in) financing activities: |  |  |  |  |  |  |  |  |  |  |
Net proceeds from issuance of senior notes |  |  | 400,383 |  |  |  |  |  |  |  |  |  | 400,383 |
Proceeds from loans payable |  |  |  |  |  |  | 796,791 |  |  |  |  | 796,791 |
Principal payments of loans payable |  |  |  |  | (31,035 | ) |  | (803,801 | ) |  |  |  | (834,836 | )
Redemption of senior notes |  |  |  | (59,068 | ) |  |  |  |  |  |  |  | (59,068 | )
Proceeds from stock-based benefit plans | 10,365 |  |  |  |  |  |  |  |  |  |  | 10,365 |
Receipts related to noncontrolling interest |  |  |  |  |  |  |  | 33 |  |  |  |  | 33 |
Purchase of treasury stock | (15,309 | ) |  |  |  |  |  |  |  |  |  | (15,309 | )
Intercompany advances |  |  |  |  |  | 370,158 |  |  | 54,569 |  |  | (424,727 | ) |  | — |
Net cash provided by (used in) financing activities | (4,944 | ) |  | 341,315 |  |  | 339,123 |  |  | 47,592 |  |  | (424,727 | ) |  | 298,359 |
Net increase in cash and cash equivalents | — |  |  | — |  |  | 60,704 |  |  | 59,813 |  |  | — |  |  | 120,517 |
Cash and cash equivalents, beginning of period | — |  |  | — |  |  | 712,024 |  |  | 66,800 |  |  | — |  |  | 778,824 |
Cash and cash equivalents, end of period | — |  |  | — |  |  | 772,728 |  |  | 126,613 |  |  | — |  |  | 899,341 |
Revised Condensed Consolidating Statement of Cash Flows for the nine months ended July 31, 2012 ($ in thousands):
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash (used in) provided by operating activities | (42,308 | ) |  | 15,773 |  |  | (168,722 | ) |  | (35,554 | ) |  | (1,127 | ) |  | (231,938 | )
Cash flow (used in) provided by investing activities: |  |  |  |  |  |  |  |  |  |  |
Purchase of property and equipment — net |  |  |  |  | (9,485 | ) |  | 9 |  |  |  |  | (9,476 | )
Purchase of marketable securities |  |  |  |  | (257,431 | ) |  | (60,138 | ) |  |  |  | (317,569 | )
Sale and redemption of marketable securities |  |  |  |  | 270,503 |  |  |  |  |  |  |  | 270,503 |
Investments in and advances to unconsolidated entities |  |  |  |  | (112,717 | ) |  | (83,096 | ) |  |  |  | (195,813 | )
Return of investments in unconsolidated entities |  |  |  |  | 29,281 |  |  | 3,950 |  |  |  |  | 33,231 |
Investments in distressed loans and foreclosed real estate |  |  |  |  |  |  |  | (30,090 | ) |  |  |  | (30,090 | )
Return of investments in distressed loans and foreclosed real estate |  |  |  |  |  |  |  | 14,412 |  |  |  |  | 14,412 |
Acquisition of a business |  |  |  |  | (144,746 | ) |  |  |  |  |  | (144,746 | )
Intercompany advances | 18,177 |  |  | (312,000 | ) |  |  |  |  |  | 293,823 |  |  | — |
Net cash (used in) provided by investing activities | 18,177 |  |  | (312,000 | ) |  | (224,595 | ) |  | (154,953 | ) |  | 293,823 |  |  | (379,548 | )
Cash flow provided by (used in) financing activities: |  |  |  |  |  |  |  |  |  |  |
Net proceeds from issuance of senior notes |  |  | 296,227 |  |  |  |  |  |  |  |  |  | 296,227 |
Proceeds from loans payable |  |  |  |  |  |  | 675,481 |  |  |  |  | 675,481 |
Principal payments of loans payable |  |  |  |  | (19,480 | ) |  | (669,762 | ) |  |  |  | (689,242 | )
Proceeds from stock-based benefit plans | 24,515 |  |  |  |  |  |  |  |  |  |  | 24,515 |
Purchase of treasury stock | (384 | ) |  |  |  |  |  |  |  |  |  | (384 | )
Intercompany advances |  |  |  |  |  | 169,156 |  |  | 123,540 |  |  | (292,696 | ) |  | — |
Net cash provided by financing activities | 24,131 |  |  | 296,227 |  |  | 149,676 |  |  | 129,259 |  |  | (292,696 | ) |  | 306,597 |
Net decrease in cash and cash equivalents | — |  |  | — |  |  | (243,641 | ) |  | (61,248 | ) |  | — |  |  | (304,889 | )
Cash and cash equivalents, beginning of period | — |  |  | — |  |  | 777,012 |  |  | 129,328 |  |  | — |  |  | 906,340 |
Cash and cash equivalents, end of period | — |  |  | — |  |  | 533,371 |  |  | 68,080 |  |  | — |  |  | 601,451 |

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