XML 36 R25.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Supplemental Guarantor Information | 9 Months Ended
--- | ---
Jul. 31, 2014
Supplemental Guarantor Information [Abstract] |
Supplemental Guarantor Information [Text Block] | Supplemental Guarantor Information Our 100% owned subsidiary, Toll Brothers Finance Corp. (the “Subsidiary Issuer”), has issued the following Senior Notes (amounts in thousands):
|  | Original amount issued and amount outstanding at
|  | July 31, 2014
5.15% Senior Notes due 2015 |  | $ | 300,000 |
8.91% Senior Notes due 2017 |  | $ | 400,000 |
6.75% Senior Notes due 2019 |  | $ | 250,000 |
5.875% Senior Notes due 2022 |  | $ | 419,876 |
4.375% Senior Notes due 2023 |  | $ | 400,000 |
0.50% Exchangeable Senior Notes due 2032 |  | $ | 287,500 |
4.0% Senior Notes due 2018 |  | $ | 350,000 |
5.625% Senior Notes due 2024 |  | $ | 250,000 |
The obligations of the Subsidiary Issuer to pay principal, premiums, if any, and interest are guaranteed jointly and severally on a senior basis by us and substantially all of our 100% owned home building subsidiaries (the “Guarantor Subsidiaries”). The guarantees are full and unconditional. Our non-home building subsidiaries and several of our home building subsidiaries (together, the “Non-Guarantor Subsidiaries”) do not guarantee the debt. The Subsidiary Issuer generates no operating revenues and does not have any independent operations other than the financing of our other subsidiaries by lending the proceeds from the above described debt issuances. The indentures under which the Senior Notes were issued provide that any of our subsidiaries that provide a guarantee of the Credit Facility will guarantee the Senior Notes. The indentures further provide that any Guarantor Subsidiary may be released from its guarantee so long as (i) no default or event of default exists or would result from release of such guarantee; (ii) the Guarantor Subsidiary being released has consolidated net worth of less than 5% of the Company’s consolidated net worth as of the end of the Company’s most recent fiscal quarter; (iii) the Guarantor Subsidiaries released from their guarantees in any fiscal year comprise in the aggregate less than 10% (or 15% if and to the extent necessary to permit the cure of a default) of the Company’s consolidated net worth as of the end of the Company’s most recent fiscal quarter; (iv) such release would not have a material adverse effect on the home building business of the Company and its subsidiaries; and (v) the Guarantor Subsidiary is released from its guaranty under the Credit Facility. If there are no guarantors under the Credit Facility, all Guarantor Subsidiaries under the indentures will be released from their guarantees. Separate financial statements and other disclosures concerning the Guarantor Subsidiaries are not presented because management has determined that such disclosures would not be material to users of these financial statements. 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, 2014:
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | — |  |  | — |  |  | 254,510 |  |  | 120,139 |  |  | — |  |  | 374,649 |
Marketable securities |  |  |  |  | 1,987 |  |  | 10,019 |  |  |  |  | 12,006 |
Restricted cash | 15,207 |  |  |  |  | 5,742 |  |  | 1,452 |  |  |  |  | 22,401 |
Inventory |  |  |  |  | 6,488,310 |  |  | 105,494 |  |  |  |  | 6,593,804 |
Property, construction and office equipment, net |  |  |  |  | 116,643 |  |  | 14,866 |  |  |  |  | 131,509 |
Receivables, prepaid expenses and other assets | 6 |  |  | 17,701 |  |  | 132,020 |  |  | 121,759 |  |  | (18,970 | ) |  | 252,516 |
Mortgage loans held for sale |  |  |  |  |  |  | 98,535 |  |  |  |  | 98,535 |
Customer deposits held in escrow |  |  |  |  | 55,820 |  |  |  |  |  |  |  | 55,820 |
Investments in and advances to unconsolidated entities |  |  |  |  | 151,612 |  |  | 291,673 |  |  |  |  | 443,285 |
Investments in distressed loans |  |  |  |  |  |  |  | 4,251 |  |  |  |  | 4,251 |
Investments in foreclosed real estate |  |  |  |  |  |  |  | 79,319 |  |  |  |  | 79,319 |
Investments in and advances to consolidated entities | 3,650,513 |  |  | 2,679,922 |  |  | 4,740 |  |  |  |  |  | (6,335,175 | ) |  | — |
Deferred tax assets, net of valuation allowances | 263,821 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 263,821 |
| 3,929,547 |  |  | 2,697,623 |  |  | 7,211,384 |  |  | 847,507 |  |  | (6,354,145 | ) |  | 8,331,916 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans payable |  |  |  |  | 636,126 |  |  |  |  |  |  |  | 636,126 |
Senior notes |  |  | 2,622,968 |  |  |  |  |  |  | 31,698 |  |  | 2,654,666 |
Mortgage company warehouse loan |  |  |  |  |  |  | 87,830 |  |  |  |  | 87,830 |
Customer deposits |  |  |  |  | 254,187 |  |  |  |  |  |  |  | 254,187 |
Accounts payable |  |  |  |  | 226,668 |  |  | 66 |  |  |  |  | 226,734 |
Accrued expenses |  |  | 36,634 |  |  | 367,334 |  |  | 152,089 |  |  | (19,387 | ) |  | 536,670 |
Advances from consolidated entities |  |  |  |  |  | 2,205,157 |  |  | 579,636 |  |  | (2,784,793 | ) |  | — |
Income taxes payable | 128,881 |  |  |  |  |  |  |  |  |  |  |  | 128,881 |
Total liabilities | 128,881 |  |  | 2,659,602 |  |  | 3,689,472 |  |  | 819,621 |  |  | (2,772,482 | ) |  | 4,525,094 |
Equity: |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |
Common stock | 1,779 |  |  |  |  | 48 |  |  | 3,006 |  |  | (3,054 | ) |  | 1,779 |
Additional paid-in capital | 700,337 |  |  | 49,400 |  |  |  |  |  | 1,734 |  |  | (51,134 | ) |  | 700,337 |
Retained earnings (deficits) | 3,100,511 |  |  | (11,379 | ) |  | 3,521,946 |  |  | 16,908 |  |  | (3,527,475 | ) |  | 3,100,511 |
Treasury stock, at cost | (2 | ) |  |  |  |  |  |  |  |  |  | (2 | )
Accumulated other comprehensive loss | (1,959 | ) |  |  |  | (82 | ) |  | (9 | ) |  |  |  |  | (2,050 | )
Total stockholders’ equity | 3,800,666 |  |  | 38,021 |  |  | 3,521,912 |  |  | 21,639 |  |  | (3,581,663 | ) |  | 3,800,575 |
Noncontrolling interest |  |  |  |  |  |  | 6,247 |  |  |  |  | 6,247 |
Total equity | 3,800,666 |  |  | 38,021 |  |  | 3,521,912 |  |  | 27,886 |  |  | (3,581,663 | ) |  | 3,806,822 |
| 3,929,547 |  |  | 2,697,623 |  |  | 7,211,384 |  |  | 847,507 |  |  | (6,354,145 | ) |  | 8,331,916 |
Condensed Consolidating Balance Sheet at October 31, 2013:
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | — |  |  | — |  |  | 670,102 |  |  | 102,870 |  |  | — |  |  | 772,972 |
Marketable securities |  |  |  |  | 42,491 |  |  | 10,017 |  |  |  |  | 52,508 |
Restricted cash | 15,182 |  |  |  |  | 16,007 |  |  | 847 |  |  |  |  | 32,036 |
Inventory |  |  |  |  | 4,625,252 |  |  | 25,160 |  |  |  |  | 4,650,412 |
Property, construction and office equipment, net |  |  |  |  | 116,809 |  |  | 14,511 |  |  |  |  | 131,320 |
Receivables, prepaid expenses and other assets | 33 |  |  | 15,675 |  |  | 101,321 |  |  | 131,701 |  |  | (19,435 | ) |  | 229,295 |
Mortgage loans held for sale |  |  |  |  |  |  | 113,517 |  |  |  |  | 113,517 |
Customer deposits held in escrow |  |  |  |  | 46,888 |  |  |  |  |  |  |  | 46,888 |
Investments in and advances to unconsolidated entities |  |  |  |  | 175,159 |  |  | 227,974 |  |  |  |  | 403,133 |
Investments in distressed loans |  |  |  |  |  |  |  | 36,374 |  |  |  |  | 36,374 |
Investments in foreclosed real estate |  |  |  |  |  |  |  |  |  | 72,972 |  |  |  |  |  | 72,972 |
Investments in and advances to consolidated entities | 3,113,203 |  |  | 2,334,503 |  |  | 4,740 |  |  |  |  |  | (5,452,446 | ) |  | — |
Deferred tax assets, net of valuation allowances | 286,032 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 286,032 |
| 3,414,450 |  |  | 2,350,178 |  |  | 5,798,769 |  |  | 735,943 |  |  | (5,471,881 | ) |  | 6,827,459 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Loans payable |  |  |  |  | 107,222 |  |  |  |  |  |  |  | 107,222 |
Senior notes |  |  | 2,282,719 |  |  |  |  |  |  | 38,723 |  |  | 2,321,442 |
Mortgage company warehouse loan |  |  |  |  |  |  | 75,000 |  |  |  |  | 75,000 |
Customer deposits |  |  |  |  | 212,669 |  |  |  |  |  |  |  | 212,669 |
Accounts payable |  |  |  |  | 167,733 |  |  | 54 |  |  |  |  | 167,787 |
Accrued expenses |  |  | 25,045 |  |  | 355,590 |  |  | 161,402 |  |  | (19,050 | ) |  | 522,987 |
Advances from consolidated entities |  |  |  |  |  | 1,627,130 |  |  | 467,929 |  |  | (2,095,059 | ) |  | — |
Income taxes payable | 81,188 |  |  |  |  |  |  |  |  |  |  |  | 81,188 |
Total liabilities | 81,188 |  |  | 2,307,764 |  |  | 2,470,344 |  |  | 704,385 |  |  | (2,075,386 | ) |  | 3,488,295 |
Equity: |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |
Common stock | 1,694 |  |  |  |  | 48 |  |  | 3,006 |  |  | (3,054 | ) |  | 1,694 |
Additional paid-in capital | 441,677 |  |  | 49,400 |  |  |  |  |  | 1,734 |  |  | (51,134 | ) |  | 441,677 |
Retained earnings (deficits) | 2,892,003 |  |  | (6,986 | ) |  | 3,328,629 |  |  | 20,664 |  |  | (3,342,307 | ) |  | 2,892,003 |
Treasury stock, at cost |  |  |  |  |  |  |  |  |  |  |  | — |
Accumulated other comprehensive loss | (2,112 | ) |  |  |  | (252 | ) |  | (23 | ) |  |  |  |  | (2,387 | )
Total stockholders’ equity | 3,333,262 |  |  | 42,414 |  |  | 3,328,425 |  |  | 25,381 |  |  | (3,396,495 | ) |  | 3,332,987 |
Noncontrolling interest |  |  |  |  |  |  | 6,177 |  |  |  |  | 6,177 |
Total equity | 3,333,262 |  |  | 42,414 |  |  | 3,328,425 |  |  | 31,558 |  |  | (3,396,495 | ) |  | 3,339,164 |
| 3,414,450 |  |  | 2,350,178 |  |  | 5,798,769 |  |  | 735,943 |  |  | (5,471,881 | ) |  | 6,827,459 |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the nine months ended July 31, 2014:
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 2,587,940 |  |  | 53,075 |  |  | (80,103 | ) |  | 2,560,912 |
Cost of revenues |  |  |  |  | 2,029,097 |  |  | 6,809 |  |  | (16,644 | ) |  | 2,019,262 |
Selling, general and administrative | 98 |  |  | 2,762 |  |  | 330,591 |  |  | 40,898 |  |  | (62,178 | ) |  | 312,171 |
| 98 |  |  | 2,762 |  |  | 2,359,688 |  |  | 47,707 |  |  | (78,822 | ) |  | 2,331,433 |
Income (loss) from operations | (98 | ) |  | (2,762 | ) |  | 228,252 |  |  | 5,368 |  |  | (1,281 | ) |  | 229,479 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income (loss) from unconsolidated entities |  |  |  |  | 38,271 |  |  | (79 | ) |  |  |  | 38,192 |
Other income - net | 7,033 |  |  |  |  |  | 31,632 |  |  | 13,427 |  |  | (3,719 | ) |  | 48,373 |
Intercompany interest income |  |  | 111,984 |  |  |  |  |  |  |  |  | (111,984 | ) |  | — |
Interest expense |  |  | (116,246 | ) |  |  |  |  | (738 | ) |  | 116,984 |  |  | — |
Income from subsidiaries | 309,109 |  |  |  |  | 10,954 |  |  |  |  | (320,063 | ) |  | — |
Income (loss) before income taxes | 316,044 |  |  | (7,024 | ) |  | 309,109 |  |  | 17,978 |  |  | (320,063 | ) |  | 316,044 |
Income tax provision (benefit) | 107,536 |  |  | (2,631 | ) |  | 115,792 |  |  | 6,734 |  |  | (119,895 | ) |  | 107,536 |
Net income (loss) | 208,508 |  |  | (4,393 | ) |  | 193,317 |  |  | 11,244 |  |  | (200,168 | ) |  | 208,508 |
Other comprehensive income | 153 |  |  |  |  |  | 170 |  |  | 14 |  |  |  |  |  | 337 |
Total comprehensive income (loss) | 208,661 |  |  | (4,393 | ) |  | 193,487 |  |  | 11,258 |  |  | (200,168 | ) |  | 208,845 |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the nine months ended July 31, 2013:
| 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 |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the three months ended July 31, 2014:
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 1,067,863 |  |  | 19,808 |  |  | (30,814 | ) |  | 1,056,857 |
Cost of revenues |  |  |  |  | 822,804 |  |  | 2,750 |  |  | (8,322 | ) |  | 817,232 |
Selling, general and administrative | 29 |  |  | 897 |  |  | 116,944 |  |  | 14,462 |  |  | (22,351 | ) |  | 109,981 |
| 29 |  |  | 897 |  |  | 939,748 |  |  | 17,212 |  |  | (30,673 | ) |  | 927,213 |
Income (loss) from operations | (29 | ) |  | (897 | ) |  | 128,115 |  |  | 2,596 |  |  | (141 | ) |  | 129,644 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 693 |  |  | 257 |  |  |  |  | 950 |
Other income - net | 2,373 |  |  |  |  |  | 13,817 |  |  | 6,219 |  |  | (1,678 | ) |  | 20,731 |
Intercompany interest income |  |  | 35,877 |  |  |  |  |  |  |  |  | (35,877 | ) |  | — |
Interest expense |  |  | (37,347 | ) |  |  |  |  | (349 | ) |  | 37,696 |  |  | — |
Income from subsidiaries | 148,981 |  |  |  |  | 6,356 |  |  |  |  | (155,337 | ) |  | — |
Income (loss) before income taxes | 151,325 |  |  | (2,367 | ) |  | 148,981 |  |  | 8,723 |  |  | (155,337 | ) |  | 151,325 |
Income tax provision (benefit) | 53,618 |  |  | (880 | ) |  | 55,568 |  |  | 3,253 |  |  | (57,941 | ) |  | 53,618 |
Net income (loss) | 97,707 |  |  | (1,487 | ) |  | 93,413 |  |  | 5,470 |  |  | (97,396 | ) |  | 97,707 |
Other comprehensive (loss) income | (3 | ) |  |  |  |  | (19 | ) |  | 2 |  |  |  |  |  | (20 | )
Total comprehensive income (loss) | 97,704 |  |  | (1,487 | ) |  | 93,394 |  |  | 5,472 |  |  | (97,396 | ) |  | 97,687 |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) for the three months ended July 31, 2013:
| 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 |
Condensed Consolidating Statement of Cash Flows for the nine months ended July 31, 2014:
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | 101,864 |  |  | 18,079 |  |  | (4,242 | ) |  | (64,371 | ) |  | (12,714 | ) |  | 38,616 |
Cash flow used in investing activities: |  |  |  |  |  |  |  |  |  |  |
Purchase of property and equipment - net |  |  |  |  | (9,145 | ) |  | (355 | ) |  |  |  | (9,500 | )
Sale and redemption of marketable securities |  |  |  |  | 40,243 |  |  |  |  |  |  | 40,243 |
Investments in and advances to unconsolidated entities |  |  |  |  | (15,604 | ) |  | (77,435 | ) |  |  |  | (93,039 | )
Return of investments in unconsolidated entities |  |  |  |  | 40,413 |  |  | 10,264 |  |  |  |  | 50,677 |
Investments in distressed loans and foreclosed real estate |  |  |  |  |  |  |  | (1,127 | ) |  |  |  | (1,127 | )
Return of investments in distressed loans and foreclosed real estate |  |  |  |  |  |  | 40,675 |  |  |  |  | 40,675 |
Acquisition of a business |  |  |  |  | (1,489,116 | ) |  |  |  |  |  |  | (1,489,116 | )
Dividend received - intercompany |  |  |  |  | 15,000 |  |  |  |  |  | (15,000 | ) |  | — |
Intercompany advances | (348,664 | ) |  | (345,419 | ) |  |  |  |  |  |  | 694,083 |  |  | — |
Net cash used in investing activities | (348,664 | ) |  | (345,419 | ) |  | (1,418,209 | ) |  | (27,978 | ) |  | 679,083 |  |  | (1,461,187 | )
Cash flow provided by financing activities: |  |  |  |  |  |  |  |  |  |  |
Net proceeds from issuance of senior notes |  |  | 600,000 |  |  |  |  |  |  |  |  |  | 600,000 |
Debt issuance costs for senior notes |  |  | (4,700 | ) |  |  |  |  |  |  |  |  | (4,700 | )
Proceeds from loans payable |  |  |  |  | 1,141,300 |  |  | 729,580 |  |  |  |  | 1,870,880 |
Debt issuance costs for loans payable |  |  |  |  | (3,005 | ) |  |  |  |  |  |  | (3,005 | )
Principal payments of loans payable |  |  |  |  | (701,098 | ) |  | (716,750 | ) |  |  |  | (1,417,848 | )
Redemption of senior notes |  |  |  | (267,960 | ) |  |  |  |  |  |  |  | (267,960 | )
Net proceeds from issuance of common stock | 220,365 |  |  |  |  |  |  |  |  |  |  | 220,365 |
Proceeds from stock-based benefit plans | 26,555 |  |  |  |  |  |  |  |  |  |  | 26,555 |
Excess tax benefits from stock-based compensation | 221 |  |  |  |  |  |  |  |  |  |  | 221 |
Purchase of treasury stock | (341 | ) |  |  |  |  |  |  |  |  |  | (341 | )
Receipts related to noncontrolling interest |  |  |  |  |  |  |  | 81 |  |  |  |  | 81 |
Dividend paid - intercompany |  |  |  |  |  |  |  | (15,000 | ) |  | 15,000 |  |  | — |
Intercompany advances |  |  |  |  |  | 569,662 |  |  | 111,707 |  |  | (681,369 | ) |  | — |
Net cash provided by financing activities | 246,800 |  |  | 327,340 |  |  | 1,006,859 |  |  | 109,618 |  |  | (666,369 | ) |  | 1,024,248 |
Net (decrease) increase in cash and cash equivalents | — |  |  | — |  |  | (415,592 | ) |  | 17,269 |  |  | — |  |  | (398,323 | )
Cash and cash equivalents, beginning of period | — |  |  | — |  |  | 670,102 |  |  | 102,870 |  |  | — |  |  | 772,972 |
Cash and cash equivalents, end of period | — |  |  | — |  |  | 254,510 |  |  | 120,139 |  |  | — |  |  | 374,649 |
Condensed Consolidating Statement of Cash Flows for the nine months ended July 31, 2013:
| 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: |  |  |  |  |  |  |  |  |  |  |
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 |
Purchase of treasury stock | (15,309 | ) |  |  |  |  |  |  |  |  |  | (15,309 | )
Receipts related to noncontrolling interest |  |  |  |  |  |  |  | 33 |  |  |  |  | 33 |
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 |

X
- Details
Name: | tol_SupplementalGuarantorInformationAbstract
Namespace Prefix: | tol_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of supplemental consolidating financial information of the Parent, the Subsidiary Issuer, the Guarantor Subsidiaries, and the Non-Guarantor Subsidiaries and the eliminations to arrive at the Company on a consolidated basis. + References No definition available. + Details
Name: | tol_SupplementalGuarantorInformationTextBlock
Namespace Prefix: | tol_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration