XML 78 R33.htm IDEA: XBRL DOCUMENT
v3.19.2

Fair Value Disclosures (Tables) | 9 Months Ended
--- | ---
Jul. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
Summary of assets and (liabilities), measured at fair value on a recurring basis | The table below provides, as of the dates indicated, a summary of assets/(liabilities) related to our financial instruments, measured at fair value on a recurring basis (amounts in thousands):
|  |  |  | Fair value
Financial Instrument |  | Fair value hierarchy |  | July 31, 2019 |  | October 31, 2018
Mortgage Loans Held for Sale |  | Level 2 |  | $ | 169,251 |  |  | $ | 170,731 |
Forward Loan Commitments — Mortgage Loans Held for Sale |  | Level 2 |  | $ | 53 |  |  | $ | 1,750 |
Interest Rate Lock Commitments (“IRLCs”) |  | Level 2 |  | $ | 129 |  |  | $ | (4,366 | )
Forward Loan Commitments — IRLCs |  | Level 2 |  | $ | (129 | ) |  | $ | 4,366 |
Aggregate unpaid principal and fair value of mortgage loans held for sale | The table below provides, as of the dates indicated, the aggregate unpaid principal and fair value of mortgage loans held for sale (amounts in thousands):
| Aggregate unpaid principal balance |  | Fair value |  | Excess
At July 31, 2019 | $ | 167,015 |  |  | $ | 169,251 |  |  | $ | 2,236 |
At October 31, 2018 | $ | 170,728 |  |  | $ | 170,731 |  |  | $ | 3 |
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 2019: |  |  |  |  |  |  |
January 31 (1) | 49 |  | 5 |  | $ | 37,282 |  |  | $ | 5,785 |
April 30 (2) | 64 |  | 6 |  | $ | 36,159 |  |  | 17,495 |
July 31 | 69 |  | 3 |  | $ | 5,436 |  |  | 1,100 |
|  |  |  |  |  |  | $ | 24,380 |
Fiscal 2018: |  |  |  |  |  |  |
January 31 | 64 |  | 5 |  | $ | 13,318 |  |  | $ | 3,736 |
April 30 (2) | 65 |  | 4 |  | $ | 21,811 |  |  | 13,325 |
July 31 (3) | 55 |  | 5 |  | $ | 43,063 |  |  | 9,065 |
October 31 | 43 |  | 6 |  | $ | 24,692 |  |  | 4,025 |
|  |  |  |  |  |  | $ | 30,151 |
(1) | Includes impairments of $2.8 million (one community), $1.5 million (three communities), and $1.5 million (one community) located in our City Living, North, and South segments, respectively.
(2) | Includes impairments of $2.0 million (one community), $7.0 million (two communities), $8.0 million (two communities), and $0.5 million (one community) located in our City Living, North, Mid-Atlantic, and South segments, respectively, in our fiscal 2019 period. Includes $12.0 million of impairments from one community located in our North segment in our fiscal 2018 period.
(3) Includes $7.3 million of impairments from two communities located in our Mid-Atlantic segment.
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 (amounts in thousands):
|  |  | July 31, 2019 |  | October 31, 2018
| Fair value hierarchy |  | Book value |  | Estimated fair value |  | Book value |  | Estimated fair value
Loans payable (1) | Level 2 |  | $ | 1,091,884 |  |  | $ | 1,088,316 |  |  | $ | 688,115 |  |  | $ | 687,974 |
Senior notes (2) | Level 1 |  | 2,519,876 |  |  | 2,633,961 |  |  | 2,869,876 |  |  | 2,779,270 |
Mortgage company loan facility (3) | Level 2 |  | 150,000 |  |  | 150,000 |  |  | 150,000 |  |  | 150,000 |
|  |  | $ | 3,761,760 |  |  | $ | 3,872,277 |  |  | $ | 3,707,991 |  |  | $ | 3,617,244 |
(1) | 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.
(2) | The estimated fair value of our senior notes is based upon their market prices as of the applicable valuation date.
(3) 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 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 operating communities:
Three months ended: | Selling price per unit ($ in thousands) |  | Sales pace per year (in units) |  | Discount rate
Fiscal 2019: |  |  |  |  |
January 31 | 836 - 13,495 |  | 2 - 12 |  | 12.5% - 15.8%
April 30 | 372 - 1,915 |  | 2 - 19 |  | 12.0% - 26.0%
July 31 | 530 - 1,113 |  | 2 - 9 |  | 7.8% - 13%
Fiscal 2018: |  |  |  |  |
January 31 | 381 - 1,029 |  | 7 - 10 |  | 13.8% - 19.0%
April 30 | 485 - 522 |  | 10 - 16 |  | 16.9%
July 31 (1) | – |  | – |  | –
October 31 | 470 - 1071 |  | 4 - 23 |  | 13.5% - 16.3%
(1) The impairment charges recognized were related to our decisions to sell lots in a bulk sale in certain communities rather than sell and construct homes as previously intended. The sale price per lot used in the fair value determination for these bulk sales ranged from $10,000 to $155,000.

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 Fair value of inventory adjusted for impairment and the amount of impairment charges recognized. + References No definition available. + Details
Name: | tol_FairValueOfInventoryAdjustedForImpairmentTableTextBlock
Namespace Prefix: | tol_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&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 the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + 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: |