XML 47 R32.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Oct. 31, 2022
Income Tax Disclosure [Abstract] |
Reconciliation of Company's effective tax rate from federal statutory rate | The following table provides a reconciliation of our effective tax rate from the federal statutory tax rate for the fiscal years ended October 31, 2022, 2021, and 2020 ($ amounts in thousands):
| 2022 |  | 2021 |  | 2020
| $ |  | %* |  | $ |  | %* |  | $ |  | %*
Federal tax provision at statutory rate | 357,782 |  |  | 21.0 |  |  | 231,066 |  |  | 21.0 |  |  | 123,249 |  |  | 21.0 |
State tax provision, net of federal benefit | 75,465 |  |  | 4.4 |  |  | 50,153 |  |  | 4.6 |  |  | 25,793 |  |  | 4.4 |
Other permanent differences | 4,386 |  |  | 0.3 |  |  | 8,388 |  |  | 0.8 |  |  | 4,755 |  |  | 0.8 |
Reversal of accrual for uncertain tax positions | (1,690) |  |  | (0.1) |  |  | (993) |  |  | (0.1) |  |  | (1,749) |  |  | (0.3) |
Accrued interest on anticipated tax assessments | 234 |  |  | — |  |  | 297 |  |  | — |  |  | 404 |  |  | 0.1 |
Increase in unrecognized tax benefits | 658 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Excess stock compensation benefit | (3,012) |  |  | (0.2) |  |  | (4,698) |  |  | (0.4) |  |  | (3,339) |  |  | (0.6) |
Energy tax credits | (22,153) |  |  | (1.3) |  |  | (24,343) |  |  | (2.2) |  |  | (11,467) |  |  | (2.0) |
Other | 5,556 |  |  | 0.3 |  |  | 6,818 |  |  | 0.6 |  |  | 2,631 |  |  | 0.5 |
Income tax provision* | 417,226 |  |  | 24.5 |  |  | 266,688 |  |  | 24.2 |  |  | 140,277 |  |  | 23.9 |
* Due to rounding, percentages may not add
Schedule of Components of Income Tax Expense (Benefit) | The following table provides information regarding the provision (benefit) for income taxes for each of the fiscal years ended October 31, 2022, 2021, and 2020 (amounts in thousands):
| 2022 |  | 2021 |  | 2020
Federal | $ | 343,524 |  |  | $ | 213,314 |  |  | $ | 114,204 |
State | 73,702 |  |  | 53,374 |  |  | 26,073 |
| $ | 417,226 |  |  | $ | 266,688 |  |  | $ | 140,277 |
Current | $ | 513,075 |  |  | $ | 254,873 |  |  | $ | 42,497 |
Deferred | (95,849) |  |  | 11,815 |  |  | 97,780 |
| $ | 417,226 |  |  | $ | 266,688 |  |  | $ | 140,277 |
Schedule of Components of Income Taxes Payable | The components of income taxes payable at October 31, 2022 and 2021 are set forth below (amounts in thousands):
| 2022 |  | 2021
Current | $ | 168,548 |  |  | $ | 8,047 |
Deferred | 122,931 |  |  | 207,233 |
| $ | 291,479 |  |  | $ | 215,280 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table provides a reconciliation of the change in the unrecognized tax benefits for the years ended October 31, 2022, 2021, and 2020 (amounts in thousands):
| 2022 |  | 2021 |  | 2020
Balance, beginning of year | $ | 5,780 |  |  | $ | 6,591 |  |  | $ | 7,897 |
Increase in benefit as a result of tax positions taken in prior years | 296 |  |  | 624 |  |  | 512 |
Increase in benefit as a result of tax positions taken in current year | 833 |  |  | — |  |  | 306 |
Decrease in benefit as a result of lapse of statute of limitations | (1,987) |  |  | (1,435) |  |  | (2,124) |
Balance, end of year | $ | 4,922 |  |  | $ | 5,780 |  |  | $ | 6,591 |
Tax Benefits potential interest and penalties | The following table provides information as to the amounts recognized in our tax provision, before reduction for applicable taxes and reversal of previously accrued interest and penalties, of potential interest and penalties in the fiscal years ended October 31, 2022, 2021, and 2020, and the amounts accrued for potential interest and penalties at October 31, 2022 and 2021 (amounts in thousands):
Expense recognized in the Consolidated Statements of Operations and Comprehensive Income |
Fiscal year |
2022 | $ | 296 |
2021 | $ | 376 |
2020 | $ | 512 |
Accrued at: |
October 31, 2022 | $ | 1,157 |
October 31, 2021 | $ | 1,385 |
Schedule of Deferred Tax Assets and Liabilities | The components of net deferred tax assets and liabilities at October 31, 2022 and 2021 are set forth below (amounts in thousands):
| 2022 |  | 2021
Deferred tax assets: |  |  |
Accrued expenses | $ | 50,164 |  |  | $ | 55,904 |
Impairment charges | 37,418 |  |  | 40,410 |
Inventory valuation differences | 41,154 |  |  | 29,285 |
Stock-based compensation expense | 17,064 |  |  | 16,543 |
Amounts related to unrecognized tax benefits | 203 |  |  | 262 |
State tax, net operating loss carryforwards | 24,185 |  |  | 46,339 |
Other | 1,691 |  |  | 1,877 |
Total assets | 171,879 |  |  | 190,620 |
Deferred tax liabilities: |  |  |
Capitalized interest | 26,791 |  |  | 37,475 |
Deferred income | 226,929 |  |  | 319,587 |
Expenses taken for tax purposes not for book | 2,961 |  |  | 4,716 |
Depreciation | 19,391 |  |  | 18,689 |
Deferred marketing | 18,738 |  |  | 17,386 |
Total liabilities | 294,810 |  |  | 397,853 |
Net deferred tax liabilities | $ | (122,931) |  |  | $ | (207,233) |

X
- Definition Schedule of Components of Income Taxes Payable [Table Text Block] + References No definition available. + Details
Name: | tol_ScheduleofComponentsofIncomeTaxesPayableTableTextBlock
Namespace Prefix: | tol_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tax benefits potential interest and penalties expense recognized during the periods presented and accured at each balance sheet date. + References No definition available. + Details
Name: | tol_TaxBenefitsPotentialInterestAndPenaltiesExpenseRecognizedTableTextBlock
Namespace Prefix: | tol_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration