XML 60 R37.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Fair Value Disclosures (Tables) | 12 Months Ended
--- | ---
Oct. 31, 2017
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, 2017 and 2016, 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, 2017 |  | October 31, 2016
Residential Mortgage Loans Held for Sale |  | Level 2 |  | $ | 132,922 |  |  | $ | 248,601 |
Forward Loan Commitments – Residential Mortgage Loans Held for Sale |  | Level 2 |  | $ | 861 |  |  | $ | 1,390 |
Interest Rate Lock Commitments (“IRLCs”) |  | Level 2 |  | $ | (1,293 | ) |  | $ | (921 | )
Forward Loan Commitments – IRLCs |  | Level 2 |  | $ | 1,293 |  |  | $ | 921 |
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):
At October 31, |  | Aggregate unpaid principal balance |  | Fair value |  | Excess
2017 |  | $ | 131,861 |  |  | $ | 132,922 |  |  | $ | 1,061 |
2016 |  | $ | 246,794 |  |  | $ | 248,601 |  |  | $ | 1,807 |
Fair value of inventory adjusted for impairment | The table below provides, for the periods indicated, the number of operating communities that we reviewed for potential impairment, the number of operating communities in which we recognized impairment charges, the amount of impairment charges recognized, and, as of the end of the period indicated, the fair value of those communities, net of impairment charges ($ 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 2017: |  |  |  |  |  |  |  |
January 31 |  | 57 |  |  | 2 |  |  | $ | 8,372 |  |  | $ | 4,000 |
April 30 |  | 46 |  |  | 6 |  |  | $ | 25,092 |  |  | 2,935 |
July 31 |  | 53 |  |  | 4 |  |  | $ | 5,965 |  |  | 1,360 |
October 31 |  | 51 |  |  | 1 |  |  | $ | 6,982 |  |  | 1,500 |
|  |  |  |  |  |  |  | $ | 9,795 |
Fiscal 2016: |  |  |  |  |  |  |  |
January 31 |  | 43 |  |  | 2 |  |  | $ | 1,713 |  |  | $ | 600 |
April 30 |  | 41 |  |  | 2 |  |  | $ | 10,103 |  |  | 6,100 |
July 31 |  | 51 |  |  | 2 |  |  | $ | 11,714 |  |  | 1,250 |
October 31 |  | 59 |  |  | 2 |  |  | $ | 1,126 |  |  | 415 |
|  |  |  |  |  |  |  | $ | 8,365 |
Fiscal 2015: |  |  |  |  |  |  |  |
January 31 |  | 58 |  |  | 4 |  |  | $ | 24,968 |  |  | $ | 900 |
April 30 |  | 52 |  |  | 1 |  |  | $ | 16,235 |  |  | 11,100 |
July 31 |  | 40 |  |  | 3 |  |  | $ | 13,527 |  |  | 6,000 |
October 31 |  | 44 |  |  | 3 |  |  | $ | 8,726 |  |  | 4,300 |
|  |  |  |  |  |  |  | $ | 22,300 |
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, 2017 and 2016 (amounts in thousands):
|  |  | 2017 |  | 2016
| Fair value hierarchy |  | Book value |  | Estimated fair value |  | Book value |  | Estimated fair value
Loans payable (a) | Level 2 |  | $ | 639,116 |  |  | $ | 639,088 |  |  | $ | 872,809 |  |  | $ | 870,384 |
Senior notes (b) | Level 1 |  | 2,469,876 |  |  | 2,626,131 |  |  | 2,707,376 |  |  | 2,843,177 |
Mortgage company loan facility (c) | Level 2 |  | 120,145 |  |  | 120,145 |  |  | 210,000 |  |  | 210,000 |
|  |  | $ | 3,229,137 |  |  | $ | 3,385,364 |  |  | $ | 3,790,185 |  |  | $ | 3,923,561 |
(a) | The estimated fair value of loans payable was based upon contractual cash flows discounted at interest rates that we believed were available to us 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 market prices as of the applicable valuation date.
(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, 2017 | 467 - 540 |  | 12 - 30 |  | 16.4%
July 31, 2017 | 465 - 754 |  | 3 - 10 |  | 16.5% - 19.5%
April 30, 2017 | 827 - 856 |  | 6 - 11 |  | 16.3%
January 31, 2017 | 692 - 880 |  | 4 - 12 |  | 16.3%
October 31, 2016 | — |  | — |  | —
July 31, 2016 | — |  | — |  | —
April 30, 2016 | 369 - 394 |  | 18 - 23 |  | 16.3%
January 31, 2016 | — |  | — |  | —

X
- Definition Aggregate unpaid principal and fair value of mortgage loans held for sale. + References No definition available. + Details
Name: | tol_AggregateUnpaidPrincipalAndFairValueOfMortgageLoansHeldForSaleTableTextBlock
Namespace Prefix: | tol_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + 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=66048111&loc=d3e19207-110258 Reference 2: 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=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=tol_OperatingcommunitiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |