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Supplemental Guarantor Information | 12 Months Ended
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Oct. 31, 2019
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 October 31, 2019
5.875% Senior Notes due February 15, 2022 |  | $ | 419,876 |
4.375% Senior Notes due April 15, 2023 |  | $ | 400,000 |
5.625% Senior Notes due January 15, 2024 |  | $ | 250,000 |
4.875% Senior Notes due November 15, 2025 |  | $ | 350,000 |
4.875% Senior Notes due March 15, 2027 |  | $ | 450,000 |
4.350% Senior Notes due February 15, 2028 |  | $ | 400,000 |
3.80% Senior Notes due November 1, 2029 |  | $ | 400,000 |
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 “Nonguarantor 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 Revolving Credit Facility will guarantee the Senior Notes. The indentures further provide that any Guarantor Subsidiary may be released from its guarantee, so long as (1) no default or event of default exists or would result from release of such guarantee, (2) the Guarantor Subsidiary being released has consolidated net worth of less than 5% of our consolidated net worth as of the end of our most recent fiscal quarter, (3) 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 our consolidated net worth as of the end of our most recent fiscal quarter, (4) such release would not have a material adverse effect on our and our subsidiaries home building business, and (5) the Guarantor Subsidiary is released from its guarantee under the Revolving Credit Facility. If there are no guarantors under the Revolving 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 investors. Supplemental consolidating financial information of Toll Brothers, Inc., the Subsidiary Issuer, the Guarantor Subsidiaries, the Nonguarantor Subsidiaries, and the eliminations to arrive at Toll Brothers, Inc. on a consolidated basis is presented below ($ amounts in thousands). Consolidating Balance Sheet at October 31, 2019
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Nonguarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | — |  |  | — |  |  | 1,082,067 |  |  | 203,947 |  |  | — |  |  | 1,286,014 |
Inventory |  |  |  |  | 7,791,759 |  |  | 81,289 |  |  |  |  | 7,873,048 |
Property, construction, and office equipment, net |  |  |  |  | 263,140 |  |  | 10,272 |  |  |  |  | 273,412 |
Receivables, prepaid expenses, and other assets |  |  |  |  |  | 224,681 |  |  | 610,541 |  |  | (119,781 | ) |  | 715,441 |
Mortgage loans held for sale |  |  |  |  |  |  | 218,777 |  |  |  |  | 218,777 |
Customer deposits held in escrow |  |  |  |  | 74,303 |  |  | 100 |  |  |  |  | 74,403 |
Investments in unconsolidated entities |  |  |  |  | 50,594 |  |  | 315,658 |  |  |  |  | 366,252 |
Investments in and advances to consolidated entities | 5,172,737 |  |  | 2,704,551 |  |  | 163,371 |  |  | 147,413 |  |  | (8,188,072 | ) |  | — |
Income taxes receivable | 20,791 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 20,791 |
| 5,193,528 |  |  | 2,704,551 |  |  | 9,649,915 |  |  | 1,587,997 |  |  | (8,307,853 | ) |  | 10,828,138 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Loans payable |  |  |  |  | 1,109,614 |  |  | 36,092 |  |  | (34,257 | ) |  | 1,111,449 |
Senior notes |  |  | 2,659,898 |  |  |  |  |  |  |  |  | 2,659,898 |
Mortgage company loan facility |  |  |  |  |  |  | 150,000 |  |  |  |  | 150,000 |
Customer deposits |  |  |  |  | 383,583 |  |  | 2,013 |  |  |  |  | 385,596 |
Accounts payable |  |  |  |  | 347,715 |  |  | 884 |  |  |  |  | 348,599 |
Accrued expenses | 754 |  |  | 26,812 |  |  | 569,476 |  |  | 443,180 |  |  | (89,290 | ) |  | 950,932 |
Advances from consolidated entities |  |  |  |  |  | 1,052,370 |  |  | 503,058 |  |  | (1,555,428 | ) |  | — |
Income taxes payable | 102,971 |  |  |  |  |  |  |  |  |  |  |  | 102,971 |
Total liabilities | 103,725 |  |  | 2,686,710 |  |  | 3,462,758 |  |  | 1,135,227 |  |  | (1,678,975 | ) |  | 5,709,445 |
Equity |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity |  |  |  |  |  |  |  |  |  |  |
Common stock | 1,529 |  |  |  |  | 48 |  |  | 3,006 |  |  | (3,054 | ) |  | 1,529 |
Additional paid-in capital | 726,879 |  |  | 49,400 |  |  |  |  |  | 177,034 |  |  | (226,434 | ) |  | 726,879 |
Retained earnings (deficit) | 4,792,409 |  |  | (31,559 | ) |  | 6,187,109 |  |  | 225,853 |  |  | (6,399,390 | ) |  | 4,774,422 |
Treasury stock, at cost | (425,183 | ) |  |  |  |  |  |  |  |  |  | (425,183 | )
Accumulated other comprehensive loss | (5,831 | ) |  |  |  |  |  |  |  |  |  |  |  | (5,831 | )
Total stockholders’ equity | 5,089,803 |  |  | 17,841 |  |  | 6,187,157 |  |  | 405,893 |  |  | (6,628,878 | ) |  | 5,071,816 |
Noncontrolling interest |  |  |  |  |  |  | 46,877 |  |  |  |  | 46,877 |
Total equity | 5,089,803 |  |  | 17,841 |  |  | 6,187,157 |  |  | 452,770 |  |  | (6,628,878 | ) |  | 5,118,693 |
| 5,193,528 |  |  | 2,704,551 |  |  | 9,649,915 |  |  | 1,587,997 |  |  | (8,307,853 | ) |  | 10,828,138 |
Consolidating Balance Sheet at October 31, 2018
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Nonguarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | — |  |  | — |  |  | 1,011,863 |  |  | 170,332 |  |  | — |  |  | 1,182,195 |
Inventory |  |  |  |  | 7,493,205 |  |  | 105,014 |  |  |  |  | 7,598,219 |
Property, construction, and office equipment, net |  |  |  |  | 169,265 |  |  | 24,016 |  |  |  |  | 193,281 |
Receivables, prepaid expenses, and other assets |  |  |  |  |  |  | 291,299 |  |  | 392,559 |  |  | (133,080 | ) |  | 550,778 |
Mortgage loans held for sale |  |  |  |  |  |  | 170,731 |  |  |  |  | 170,731 |
Customer deposits held in escrow |  |  |  |  | 116,332 |  |  | 1,241 |  |  |  |  | 117,573 |
Investments in unconsolidated entities |  |  |  |  | 44,329 |  |  | 387,484 |  |  |  |  | 431,813 |
Investments in and advances to consolidated entities | 4,791,629 |  |  | 2,916,557 |  |  | 91,740 |  |  | 126,872 |  |  | (7,926,798 | ) |  | — |
| 4,791,629 |  |  | 2,916,557 |  |  | 9,218,033 |  |  | 1,378,249 |  |  | (8,059,878 | ) |  | 10,244,590 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Loans payable |  |  |  |  | 686,801 |  |  |  |  |  |  |  | 686,801 |
Senior notes |  |  | 2,861,375 |  |  |  |  |  |  |  |  | 2,861,375 |
Mortgage company loan facility |  |  |  |  |  |  | 150,000 |  |  |  |  | 150,000 |
Customer deposits |  |  |  |  | 405,318 |  |  | 5,546 |  |  |  |  | 410,864 |
Accounts payable |  |  |  |  | 361,655 |  |  | 443 |  |  |  |  | 362,098 |
Accrued expenses | 471 |  |  | 37,341 |  |  | 600,907 |  |  | 462,128 |  |  | (127,266 | ) |  | 973,581 |
Advances from consolidated entities |  |  |  |  |  | 1,551,196 |  |  | 476,040 |  |  | (2,027,236 | ) |  | — |
Income taxes payable | 30,959 |  |  |  |  |  |  |  |  |  |  |  | 30,959 |
Total liabilities | 31,430 |  |  | 2,898,716 |  |  | 3,605,877 |  |  | 1,094,157 |  |  | (2,154,502 | ) |  | 5,475,678 |
Equity |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity |  |  |  |  |  |  |  |  |  |  |
Common stock | 1,779 |  |  |  |  | 48 |  |  | 3,006 |  |  | (3,054 | ) |  | 1,779 |
Additional paid-in capital | 727,053 |  |  | 49,400 |  |  |  |  |  | 93,734 |  |  | (143,134 | ) |  | 727,053 |
Retained earnings (deficit) | 5,161,551 |  |  | (31,559 | ) |  | 5,612,108 |  |  | 178,639 |  |  | (5,759,188 | ) |  | 5,161,551 |
Treasury stock, at cost | (1,130,878 | ) |  |  |  |  |  |  |  |  |  | (1,130,878 | )
Accumulated other comprehensive loss | 694 |  |  |  |  |  |  |  |  |  |  |  |  | 694 |
Total stockholders’ equity | 4,760,199 |  |  | 17,841 |  |  | 5,612,156 |  |  | 275,379 |  |  | (5,905,376 | ) |  | 4,760,199 |
Noncontrolling interest |  |  |  |  |  |  | 8,713 |  |  |  |  | 8,713 |
Total equity | 4,760,199 |  |  | 17,841 |  |  | 5,612,156 |  |  | 284,092 |  |  | (5,905,376 | ) |  | 4,768,912 |
| 4,791,629 |  |  | 2,916,557 |  |  | 9,218,033 |  |  | 1,378,249 |  |  | (8,059,878 | ) |  | 10,244,590 |
Consolidating Statement of Operations and Comprehensive Income (Loss) for the fiscal year ended October 31, 2019
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Nonguarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Home sales |  |  |  |  | 6,980,549 |  |  | 99,830 |  |  |  |  |  | 7,080,379 |
Land sales and other |  |  |  |  | 112,972 |  |  | 260,843 |  |  | (230,228 | ) |  | 143,587 |
| — |  |  | — |  |  | 7,093,521 |  |  | 360,673 |  |  | (230,228 | ) |  | 7,223,966 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |
Home sales |  |  |  |  |  |  | 5,595,685 |  |  | 79,400 |  |  | 3,829 |  |  | 5,678,914 |
Land sales and other |  |  |  |  |  |  | 59,338 |  |  | 180,162 |  |  | (109,796 | ) |  | 129,704 |
| — |  |  | — |  |  | 5,655,023 |  |  | 259,562 |  |  | (105,967 | ) |  | 5,808,618 |
Selling, general and administrative | 542 |  |  | 2,715 |  |  | 775,030 |  |  | 75,905 |  |  | (119,644 | ) |  | 734,548 |
Income (loss) from operations | (542 | ) |  | (2,715 | ) |  | 663,468 |  |  | 25,206 |  |  | (4,617 | ) |  | 680,800 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 12,930 |  |  | 11,938 |  |  |  |  | 24,868 |
Other income - net |  |  |  |  |  | 48,052 |  |  | 26,352 |  |  | 7,098 |  |  | 81,502 |
Intercompany interest income |  |  |  | 135,087 |  |  | 2,616 |  |  | 5,781 |  |  | (143,484 | ) |  | — |
Interest expense |  |  |  | (132,372 | ) |  | (5,781 | ) |  | (2,850 | ) |  | 141,003 |  |  | — |
Income from consolidated subsidiaries | 787,712 |  |  |  |  | 66,427 |  |  |  |  | (854,139 | ) |  | — |
Income (loss) before income taxes | 787,170 |  |  | — |  |  | 787,712 |  |  | 66,427 |  |  | (854,139 | ) |  | 787,170 |
Income tax provision (benefit) | 197,163 |  |  |  |  | 197,298 |  |  | 16,637 |  |  | (213,935 | ) |  | 197,163 |
Net income (loss) | 590,007 |  |  | — |  |  | 590,414 |  |  | 49,790 |  |  | (640,204 | ) |  | 590,007 |
Other comprehensive income | (6,525 | ) |  |  |  |  |  |  |  |  |  |  |  |  | (6,525 | )
Total comprehensive income (loss) | 583,482 |  |  | — |  |  | 590,414 |  |  | 49,790 |  |  | (640,204 | ) |  | 583,482 |
Consolidating Statement of Operations and Comprehensive Income (Loss) for the fiscal year ended October 31, 2018
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Nonguarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 6,899,891 |  |  | 453,073 |  |  | (209,706 | ) |  | 7,143,258 |
Cost of revenues |  |  |  |  | 5,427,753 |  |  | 303,962 |  |  | (58,708 | ) |  | 5,673,007 |
Selling, general and administrative | 77 |  |  | 3,162 |  |  | 709,265 |  |  | 83,003 |  |  | (111,472 | ) |  | 684,035 |
| 77 |  |  | 3,162 |  |  | 6,137,018 |  |  | 386,965 |  |  | (170,180 | ) |  | 6,357,042 |
Income (loss) from operations | (77 | ) |  | (3,162 | ) |  | 762,873 |  |  | 66,108 |  |  | (39,526 | ) |  | 786,216 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 44,646 |  |  | 40,594 |  |  |  |  | 85,240 |
Other income - net |  |  |  |  |  | 30,561 |  |  | (2,950 | ) |  | 34,849 |  |  | 62,460 |
Intercompany interest income |  |  | 142,084 |  |  | 1,649 |  |  | 4,422 |  |  | (148,155 | ) |  | — |
Interest expense |  |  | (138,922 | ) |  | (4,422 | ) |  | (2,111 | ) |  | 145,455 |  |  | — |
Income from consolidated subsidiaries | 933,993 |  |  |  |  | 106,063 |  |  |  |  | (1,040,056 | ) |  | — |
Income (loss) before income taxes | 933,916 |  |  | — |  |  | 941,370 |  |  | 106,063 |  |  | (1,047,433 | ) |  | 933,916 |
Income tax provision (benefit) | 185,765 |  |  |  |  |  | 187,248 |  |  | 21,097 |  |  | (208,345 | ) |  | 185,765 |
Net income (loss) | 748,151 |  |  | — |  |  | 754,122 |  |  | 84,966 |  |  | (839,088 | ) |  | 748,151 |
Other comprehensive income | 2,926 |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,926 |
Total comprehensive income (loss) | 751,077 |  |  | — |  |  | 754,122 |  |  | 84,966 |  |  | (839,088 | ) |  | 751,077 |
Consolidating Statement of Operations and Comprehensive Income (Loss) for the fiscal year ended October 31, 2017
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Nonguarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues |  |  |  |  | 5,668,610 |  |  | 336,671 |  |  | (190,223 | ) |  | 5,815,058 |
Cost of revenues |  |  |  |  | 4,414,461 |  |  | 223,243 |  |  | (75,401 | ) |  | 4,562,303 |
Selling, general and administrative | 58 |  |  | 4,033 |  |  | 633,000 |  |  | 77,115 |  |  | (108,634 | ) |  | 605,572 |
| 58 |  |  | 4,033 |  |  | 5,047,461 |  |  | 300,358 |  |  | (184,035 | ) |  | 5,167,875 |
Income (loss) from operations | (58 | ) |  | (4,033 | ) |  | 621,149 |  |  | 36,313 |  |  | (6,188 | ) |  | 647,183 |
Other: |  |  |  |  |  |  |  |  |  |  |
Income from unconsolidated entities |  |  |  |  | 12,271 |  |  | 103,795 |  |  |  |  | 116,066 |
Other income - net | 10,574 |  |  |  |  |  | 26,653 |  |  | 10,674 |  |  | 3,161 |  |  | 51,062 |
Intercompany interest income |  |  | 156,366 |  |  | 48 |  |  | 4,365 |  |  | (160,779 | ) |  | — |
Interest expense |  |  | (162,882 | ) |  | (4,365 | ) |  | (1,819 | ) |  | 169,066 |  |  | — |
Income from consolidated subsidiaries | 803,795 |  |  |  |  | 142,779 |  |  |  |  | (946,574 | ) |  | — |
Income (loss) before income taxes | 814,311 |  |  | (10,549 | ) |  | 798,535 |  |  | 153,328 |  |  | (941,314 | ) |  | 814,311 |
Income tax provision (benefit) | 278,816 |  |  | (3,612 | ) |  | 273,418 |  |  | 52,500 |  |  | (322,306 | ) |  | 278,816 |
Net income (loss) | 535,495 |  |  | (6,937 | ) |  | 525,117 |  |  | 100,828 |  |  | (619,008 | ) |  | 535,495 |
Other comprehensive income | 1,426 |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,426 |
Total comprehensive income (loss) | 536,921 |  |  | (6,937 | ) |  | 525,117 |  |  | 100,828 |  |  | (619,008 | ) |  | 536,921 |
Consolidating Statement of Cash Flows for the fiscal year ended October 31, 2019
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Nonguarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | 76,828 |  |  | (8,413 | ) |  | 559,660 |  |  | (180,837 | ) |  | (9,577 | ) |  | 437,661 |
Cash flow provided by (used in) investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Purchase of property and equipment — net |  |  |  |  | (86,936 | ) |  | (35 | ) |  |  |  | (86,971 | )
Investment in unconsolidated entities |  |  |  |  | (11,202 | ) |  | (45,358 | ) |  |  |  | (56,560 | )
Return of investments in unconsolidated entities |  |  |  |  | 3,304 |  |  | 144,623 |  |  |  |  | 147,927 |
Investment in distressed loans and foreclosed real estate |  |  |  |  |  |  | (731 | ) |  |  |  | (731 | )
Return of investments in distressed loans and foreclosed real estate |  |  |  |  |  |  | 3,147 |  |  |  |  | 3,147 |
Proceeds from sales of golf club properties and an office building |  |  |  |  |  |  | 58,154 |  |  | 21,493 |  |  |  |  |  | 79,647 |
Acquisitions of businesses |  |  |  |  |  |  | (162,373 | ) |  |  |  |  |  |  |  | (162,373 | )
Investment paid intercompany |  |  |  |  |  |  | (71,631 | ) |  |  |  |  | 71,631 |  |  | — |
Intercompany advances | 202,967 |  |  | 212,005 |  |  |  |  |  |  |  |  | (414,972 | ) |  | — |
Net cash provided by (used in) investing activities | 202,967 |  |  | 212,005 |  |  | (270,684 | ) |  | 123,139 |  |  | (343,341 | ) |  | (75,914 | )
Cash flow (used in) provided by financing activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of senior notes |  |  | 400,000 |  |  |  |  |  |  |  |  | 400,000 |
Proceeds from loans payable |  |  |  |  | 300,000 |  |  | 2,399,028 |  |  |  |  | 2,699,028 |
Debt issuance costs |  |  | (3,592 | ) |  | (2,588 | ) |  |  |  |  |  | (6,180 | )
Principal payments of loans payable |  |  |  |  | (72,588 | ) |  | (2,399,028 | ) |  |  |  | (2,471,616 | )
Redemption of senior notes |  |  | (600,000 | ) |  |  |  |  |  |  |  | (600,000 | )
Proceeds from stock-based benefit plans | 17,369 |  |  |  |  |  |  |  |  |  |  | 17,369 |
Purchase of treasury stock | (233,523 | ) |  |  |  |  |  |  |  |  |  | (233,523 | )
Dividends paid | (63,641 | ) |  |  |  |  |  |  |  |  |  | (63,641 | )
Receipts related to noncontrolling interest |  |  |  |  |  |  | 49 |  |  |  |  | 49 |
Investment received intercompany |  |  |  |  |  |  | 71,628 |  |  | (71,628 | ) |  | — |
Intercompany advances |  |  |  |  | (443,577 | ) |  | 19,031 |  |  | 424,546 |  |  | — |
Net cash (used in) provided by financing activities | (279,795 | ) |  | (203,592 | ) |  | (218,753 | ) |  | 90,708 |  |  | 352,918 |  |  | (258,514 | )
Net increase in cash, cash equivalents, and restricted cash | — |  |  | — |  |  | 70,223 |  |  | 33,010 |  |  | — |  |  | 103,233 |
Cash, cash equivalents, and restricted cash, beginning of period | — |  |  | — |  |  | 1,011,867 |  |  | 204,543 |  |  | — |  |  | 1,216,410 |
Cash, cash equivalents, and restricted cash, end of period | — |  |  | — |  |  | 1,082,090 |  |  | 237,553 |  |  | — |  |  | 1,319,643 |
Consolidating Statement of Cash Flows for the fiscal year ended October 31, 2018
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Nonguarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | (4,270 | ) |  | 5,439 |  |  | 521,640 |  |  | 56,301 |  |  | 9,101 |  |  | 588,211 |
Cash flow provided by (used in) investing activities: |  |  |  |  |  |  |  |  |  |  |
Purchase of property and equipment — net |  |  |  |  | (28,064 | ) |  | (168 | ) |  |  |  | (28,232 | )
Investment in unconsolidated entities |  |  |  |  | (1,676 | ) |  | (25,815 | ) |  |  |  | (27,491 | )
Return of investments in unconsolidated entities |  |  |  |  | 29,242 |  |  | 103,948 |  |  |  |  | 133,190 |
Investment in distressed loans and foreclosed real estate |  |  |  |  |  |  | (966 | ) |  |  |  | (966 | )
Return of investments in distressed loans and foreclosed real estate |  |  |  |  |  |  | 4,765 |  |  |  |  | 4,765 |
Intercompany advances | 555,741 |  |  | (401,908 | ) |  |  |  |  |  | (153,833 | ) |  | — |
Net cash provided by (used in) investing activities | 555,741 |  |  | (401,908 | ) |  | (498 | ) |  | 81,764 |  |  | (153,833 | ) |  | 81,266 |
Cash flow (used in) provided by financing activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of senior notes |  |  | 400,000 |  |  |  |  |  |  |  |  | 400,000 |
Proceeds from loans payable |  |  |  |  | 590,000 |  |  | 2,040,835 |  |  |  |  | 2,630,835 |
Debt issuance costs |  |  | (3,531 | ) |  |  |  |  |  |  |  | (3,531 | )
Principal payments of loans payable |  |  |  |  | (679,184 | ) |  | (2,010,980 | ) |  |  |  | (2,690,164 | )
Proceeds from stock-based benefit plans | 13,392 |  |  |  |  |  |  |  |  |  |  | 13,392 |
Purchase of treasury stock | (503,159 | ) |  |  |  |  |  |  |  |  |  | (503,159 | )
Payments related to noncontrolling interest |  |  |  |  |  |  | 30 |  |  |  |  | 30 |
Dividends paid intercompany |  |  |  |  |  |  | (6,000 | ) |  | 6,000 |  |  | — |
Dividends paid | (61,704 | ) |  |  |  |  |  |  |  |  |  | (61,704 | )
Intercompany advances |  |  |  |  | 45,205 |  |  | (183,937 | ) |  | 138,732 |  |  | — |
Net cash (used in) provided by financing activities | (551,471 | ) |  | 396,469 |  |  | (43,979 | ) |  | (160,052 | ) |  | 144,732 |  |  | (214,301 | )
Net increase (decrease) in cash, cash equivalents, and restricted cash | — |  |  | — |  |  | 477,163 |  |  | (21,987 | ) |  | — |  |  | 455,176 |
Cash, cash equivalents, and restricted cash, beginning of period | — |  |  | — |  |  | 534,704 |  |  | 226,530 |  |  | — |  |  | 761,234 |
Cash, cash equivalents, and restricted cash, end of period | — |  |  | — |  |  | 1,011,867 |  |  | 204,543 |  |  | — |  |  | 1,216,410 |
Consolidating Statement of Cash Flows for the fiscal year ended October 31, 2017
| Toll Brothers, Inc. |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Nonguarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | 200,721 |  |  | 9,955 |  |  | 294,302 |  |  | 366,144 |  |  | (9,424 | ) |  | 861,698 |
Cash flow (used in) provided by investing activities: |  |  |  |  |  |  |  |  |  |  |
Purchase of property and equipment — net |  |  |  |  | (20,439 | ) |  | (8,433 | ) |  |  |  | (28,872 | )
Sale and redemption of marketable securities and restricted investments - net | 10,631 |  |  |  |  |  |  | 7,418 |  |  |  |  | 18,049 |
Investment in unconsolidated entities |  |  |  |  | (3,744 | ) |  | (118,590 | ) |  |  |  | (122,334 | )
Return of investments in unconsolidated entities |  |  |  |  | 58,610 |  |  | 136,895 |  |  |  |  | 195,505 |
Investment in distressed loans and foreclosed real estate |  |  |  |  |  |  | (710 | ) |  |  |  | (710 | )
Return of investments in distressed loans and foreclosed real estate |  |  |  |  |  |  | 13,765 |  |  |  |  | 13,765 |
Acquisition of a business |  |  |  |  |  |  | (83,088 | ) |  |  |  |  |  |  |  | (83,088 | )
Investment paid intercompany |  |  |  |  |  |  | (45,000 | ) |  |  |  |  | 45,000 |  |  | — |
Intercompany advances | 51,071 |  |  | 226,511 |  |  |  |  |  |  |  |  | (277,582 | ) |  | — |
Net cash (used in) provided by investing activities | 61,702 |  |  | 226,511 |  |  | (93,661 | ) |  | 30,345 |  |  | (232,582 | ) |  | (7,685 | )
Cash flow (used in) provided by financing activities: |  |  |  |  |  |  |  |  |  |  |
Net proceeds from issuance of senior notes |  |  | 455,483 |  |  |  |  |  |  |  |  | 455,483 |
Proceeds from loans payable |  |  |  |  | 250,068 |  |  | 1,370,975 |  |  |  |  | 1,621,043 |
Debt issuance costs |  |  | (4,449 | ) |  |  |  |  |  |  |  | (4,449 | )
Principal payments of loans payable |  |  |  |  | (538,527 | ) |  | (1,460,830 | ) |  |  |  | (1,999,357 | )
Redemption of senior notes |  |  | (687,500 | ) |  |  |  |  |  |  |  | (687,500 | )
Proceeds from stock-based benefit plans | 66,000 |  |  |  |  |  |  |  |  |  |  | 66,000 |
Purchase of treasury stock | (290,881 | ) |  |  |  |  |  |  |  |  |  | (290,881 | )
Dividends paid | (38,587 | ) |  |  |  |  |  |  |  |  |  | (38,587 | )
Investment received intercompany |  |  |  |  |  |  | 45,000 |  |  | (45,000 | ) |  | — |
Intercompany advances |  |  |  |  | 39,082 |  |  | (326,088 | ) |  | 287,006 |  |  | — |
Net cash (used in) provided by financing activities | (263,468 | ) |  | (236,466 | ) |  | (249,377 | ) |  | (370,943 | ) |  | 242,006 |  |  | (878,248 | )
Net increase (decrease) in cash, cash equivalents, and restricted cash | (1,045 | ) |  | — |  |  | (48,736 | ) |  | 25,546 |  |  | — |  |  | (24,235 | )
Cash, cash equivalents, and restricted cash, beginning of period | 1,045 |  |  | — |  |  | 583,440 |  |  | 200,984 |  |  | — |  |  | 785,469 |
Cash, cash equivalents, and restricted cash, end of period | — |  |  | — |  |  | 534,704 |  |  | 226,530 |  |  | — |  |  | 761,234 |
`

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- Definition Supplemental guarantor information. + References No definition available. + Details
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- 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
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