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Fair Value Disclosures (Tables) | 12 Months Ended
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Oct. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
Summary of assets and (liabilities), measured at fair value on a recurring basis | A summary of assets and (liabilities) at October 31, 2014 and 2013, related to our financial instruments, measured at fair value on a recurring basis, is set forth below (amounts in thousands):
|  |  |  | Fair value
Financial Instrument |  | Fair value hierarchy |  | October 31, 2014 |  | October 31, 2013
Corporate Securities |  | Level 2 |  | $ | 12,026 |  |  | $ | 52,508 |
Residential Mortgage Loans Held for Sale |  | Level 2 |  | $ | 101,944 |  |  | $ | 113,517 |
Forward Loan Commitments – Residential Mortgage Loans Held for Sale |  | Level 2 |  | $ | (341 | ) |  | $ | (496 | )
Interest Rate Lock Commitments (“IRLCs”) |  | Level 2 |  | $ | (108 | ) |  | $ | (181 | )
Forward Loan Commitments – IRLCs |  | Level 2 |  | $ | 108 |  |  | $ | 181 |
Aggregate unpaid principal and fair value of mortgage loans held for sale | The table below provides, for the periods indicated, the aggregate unpaid principal and fair value of mortgage loans held for sale as of the date indicated (amounts in thousands):
| Aggregate unpaid principal balance |  | Fair value |  | Excess
At October 31, 2014 | $ | 100,463 |  |  | $ | 101,944 |  |  | $ | 1,481 |
At October 31, 2013 | $ | 111,896 |  |  | $ | 113,517 |  |  | $ | 1,621 |
Summary of amortized cost gross unrealized holding gains and losses | As of October 31, 2014 and 2013, the amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value of marketable securities were as follows (amounts in thousands):
| October 31, 2014 |  | October 31, 2013
Amortized cost | $ | 12,028 |  |  | $ | 52,502 |
Gross unrealized holding gains | 1 |  |  | 71 |
Gross unrealized holding losses | (3 | ) |  | (65 | )
Fair value | $ | 12,026 |  |  | $ | 52,508 |
Fair value of inventory adjusted for impairment | The table below provides, for the periods indicated, the fair value of operating communities whose carrying value was adjusted and the amount of impairment charges recognized on operating communities ($ amounts in thousands):
|  |  |  | Impaired operating communities
Three months ended: |  | Number of communities tested |  | Number of communities |  | Fair value of communities, net of impairment charges |  | Impairment charges recognized
Fiscal 2014: |  |  |  |  |  |  |  |
January 31 |  | 67 |  |  | 1 |  |  | $ | 7,131 |  |  | $ | 1,300 |
April 30 |  | 65 |  |  | 2 |  |  | $ | 6,211 |  |  | 1,600 |
July 31 |  | 63 |  |  | 1 |  |  | $ | 14,122 |  |  | 4,800 |
October 31 |  | 55 |  |  | 7 |  |  | $ | 38,473 |  |  | 9,855 |
|  |  |  |  |  |  |  | $ | 17,555 |
Fiscal 2013: |  |  |  |  |  |  |  |
January 31 |  | 60 |  |  | 2 |  |  | $ | 5,377 |  |  | $ | 700 |
April 30 |  | 79 |  |  | 1 |  |  | $ | 749 |  |  | 340 |
July 31 |  | 76 |  |  | 1 |  |  | $ | 191 |  |  | 100 |
October 31 |  | 63 |  |  | 2 |  |  | $ | 6,798 |  |  | 2,200 |
|  |  |  |  |  |  |  | $ | 3,340 |
Fiscal 2012: |  |  |  |  |  |  |  |
January 31 |  | 113 |  |  | 8 |  |  | $ | 49,758 |  |  | $ | 6,425 |
April 30 |  | 115 |  |  | 2 |  |  | $ | 22,962 |  |  | 2,560 |
July 31 |  | 115 |  |  | 4 |  |  | $ | 6,609 |  |  | 2,685 |
October 31 |  | 108 |  |  | 3 |  |  | $ | 9,319 |  |  | 1,400 |
|  |  |  |  |  |  |  | $ | 13,070 |
Book value and estimated fair value of the Company's debt | The table below provides, as of the dates indicated, the book value and estimated fair value of our debt at October 31, 2014 and 2013 (amounts in thousands):
|  |  | October 31, 2014 |  | October 31, 2013
| Fair value hierarchy |  | Book value |  | Estimated fair value |  | Book value |  | Estimated fair value
Loans payable (a) | Level 2 |  | $ | 654,261 |  |  | $ | 652,944 |  |  | $ | 107,222 |  |  | $ | 106,988 |
Senior notes (b) | Level 1 |  | 2,657,376 |  |  | 2,821,559 |  |  | 2,325,336 |  |  | 2,458,737 |
Mortgage company loan facility (c) | Level 2 |  | 90,281 |  |  | 90,281 |  |  | 75,000 |  |  | 75,000 |
|  |  | $ | 3,401,918 |  |  | $ | 3,564,784 |  |  | $ | 2,507,558 |  |  | $ | 2,640,725 |
(a) | The estimated fair value of loans payable was based upon contractual cash flows discounted at interest rates that we believed were available to it for loans with similar terms and remaining maturities as of the applicable valuation date.
(b) | The estimated fair value of our senior notes is based upon their indicated market prices.
(c) | We believe that the carrying value of our mortgage company loan borrowings approximates their fair value.
Operating communities [Member] |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
Fair Value, Assets and Liabilities Measured on a Nonrecurring Basis, Valuation Techniques [Table Text Block] | The table below summarizes, for the periods indicated, the ranges of certain quantitative unobservable inputs utilized in determining the fair value of impaired communities:
| Selling price per unit (in thousands) |  | Sales pace per year (in units) |  | Discount rate
Three months ended October 31, 2014 | $337 - $902 |  | 7 - 23 |  | 12.5% - 16.5%
Three months ended July 31, 2014 | $698 - $1,233 |  | 10 - 22 |  | 15.9%
Three months ended April 30, 2014 | $634 - $760 |  | 4 - 7 |  | 12.0% - 15.3%
Three months ended January 31, 2014 | $388 - $405 |  | 21 - 23 |  | 16.6%
Three months ended October 31, 2013 | $315 - $362 |  | 2 - 7 |  | 15.0%
Three months ended July 31, 2013 | $475 - $500 |  | 2 |  | 15.0%
Three months ended April 30, 2013 | — |  | — |  | —%
Three months ended January 31, 2013 | $303 - $307 |  | 15 |  | 15.3%
Distress Loans [Member] |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
Fair Value, Assets and Liabilities Measured on a Nonrecurring Basis, Valuation Techniques [Table Text Block] | The table below provides, as of the dates indicated, the carrying amount and estimated fair value of distressed loans (amounts in thousands):
| October 31, 2014 |  | October 31, 2013
Carrying amount | $ | 4,001 |  |  | $ | 36,374 |
Estimated fair value | $ | 4,001 |  |  | $ | 45,355 |

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27337-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27198-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 + Details
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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, used to measure similar assets in prior periods (non-recurring basis) by class of asset or liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
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