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Stockholders' Equity | 6 Months Ended
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Apr. 30, 2023
Stock Repurchase Program [Abstract] |
Stockholders’ Equity | Stockholders’ Equity Stock Repurchase Program From time to time since fiscal 2017, our Board of Directors has renewed its authorization to repurchase up to 20 million shares of our common stock in open market transactions, privately negotiated transactions (including accelerated share repurchases), issuer tender offers or other financial arrangements or transactions. Most recently, on May 17, 2022, our Board of Directors renewed its authorization to repurchase 20 million shares of our common stock. Shares may be repurchased for general corporate purposes, including to obtain shares for the Company’s equity awards and other employee benefit plans. The Board of Directors did not fix any expiration date for this repurchase program. The table below provides, for the periods indicated, information about our share repurchase programs:
| Three months ended April 30, | Six months ended April 30,
| 2023 |  | 2022 | 2023 |  | 2022
Number of shares purchased (in thousands) | 1,443 |  |  | 2,205 |  | 1,630 |  |  | 5,219 |
Average price per share | $ | 58.14 |  |  | $ | 48.30 |  | $ | 57.20 |  |  | $ | 56.01 |
Remaining authorization at April 30 (in thousands) | 12,947 |  |  | 7,344 |  | 12,947 |  |  | 7,344 |
Cash Dividends On March 9, 2023, our Board of Directors approved an increase in our quarterly cash dividend from $0.20 per share to $0.21 per share, which was previously increased from $0.17 to $0.20 in March 2022. During the three month periods ended April 30, 2023 and 2022, we declared and paid cash dividends of $0.21 and $0.20 per share, respectively, to our shareholders. During the six months ended April 30, 2023 and 2022, we declared and paid cash dividends of $0.41 and $0.37 per share, respectively, to our shareholders. Accumulated Other Comprehensive Income (Loss) The changes in each component of accumulated other comprehensive income (loss) (“AOCI”), for the periods indicated, were as follows (amounts in thousands):
| Three months ended April 30, |  | Six months ended April 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Employee Retirement Plans |  |  |  |  |  |  |
Beginning balance | $ | 2,492 |  |  | $ | (5,685) |  |  | $ | 2,475 |  |  | $ | (6,024) |
Losses reclassified from AOCI to net income (1) | 24 |  |  | 451 |  |  | 47 |  |  | 903 |
Less: Tax benefit (2) | (6) |  |  | (113) |  |  | (12) |  |  | (226) |
Net losses reclassified from AOCI to net income | 18 |  |  | 338 |  |  | 35 |  |  | 677 |
Other comprehensive loss – net of tax | 18 |  |  | 338 |  |  | 35 |  |  | 677 |
Ending balance | $ | 2,510 |  |  | $ | (5,347) |  |  | $ | 2,510 |  |  | $ | (5,347) |
Derivative Instruments |  |  |  |  |  |  |
Beginning balance | $ | 31,662 |  |  | $ | 11,496 |  |  | $ | 35,143 |  |  | $ | 7,133 |
Gains (losses) on derivative instruments | 588 |  |  | 17,616 |  |  | (3,709) |  |  | 23,363 |
Less: Tax (expense) benefit | (138) |  |  | (4,425) |  |  | 948 |  |  | (5,866) |
Net gains (losses) on derivative instruments | 450 |  |  | 13,191 |  |  | (2,761) |  |  | 17,497 |
(Gains) losses reclassified from AOCI to net income (3) | (1,000) |  |  | 106 |  |  | (1,362) |  |  | 182 |
Less: Tax expense (benefit) (2) | 253 |  |  | (27) |  |  | 345 |  |  | (46) |
Net (gains) losses reclassified from AOCI to net income | (747) |  |  | 79 |  |  | (1,017) |  |  | 136 |
Other comprehensive (income) loss – net of tax | (297) |  |  | 13,270 |  |  | (3,778) |  |  | 17,633 |
Ending balance | $ | 31,365 |  |  | $ | 24,766 |  |  | $ | 31,365 |  |  | $ | 24,766 |
Total AOCI ending balance | $ | 33,875 |  |  | $ | 19,419 |  |  | $ | 33,875 |  |  | $ | 19,419 |
(1) Reclassified to “Other income – net” (2) Reclassified to “Income tax provision” (3) Reclassified to “Cost of revenues – home sales”

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