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Other Income - Net | 12 Months Ended
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Oct. 31, 2024
Other Income and Expenses [Abstract] |
Other Income - net [Text Block] | Other Income – Net The table below provides the significant components of “Other income – net” for the years ended October 31, 2024, 2023, and 2022 (amounts in thousands):
| 2024 |  | 2023 |  | 2022
Interest income | $ | 38,497 |  |  | $ | 35,133 |  |  | $ | 6,180 |
Income from ancillary businesses | 19,534 |  |  | 2,846 |  |  | 24,668 |
Management fee income earned by home building operations | 4,297 |  |  | 4,462 |  |  | 7,968 |
Gain on litigation settlements – net | — |  |  | 27,683 |  |  | 141,234 |
Other | 6,968 |  |  | (2,606) |  |  | (8,673) |
Total other income – net | $ | 69,296 |  |  | $ | 67,518 |  |  | $ | 171,377 |
In fiscal 2022, we entered into a $192.5 million settlement agreement with Southern California Gas Company to resolve our claims associated with a natural gas leak that occurred from October 2015 through February 2016 at the Aliso Canyon underground storage facility located near certain of our communities in southern California. As a result, net of legal fees and expenses, we recorded a pre-tax gain of $148.4 million, of which $141.2 million was recorded in Other Income - net in our Consolidated Statements of Operations and Comprehensive Income in fiscal 2022. The remainder was recorded as an offset to previously incurred expenses. Coincident with this settlement, we seeded a new Toll Brothers charitable foundation with $10.0 million which was recorded in Selling, general and administrative in our Consolidated Statements of Operations and Comprehensive Income in fiscal 2022. Income from ancillary businesses is generated by our mortgage, title, landscaping, smart home technology, apartment living, city living, and golf course and country club operations. The table below provides revenues and expenses for these ancillary businesses for the years ended October 31, 2024, 2023, and 2022 (amounts in thousands):
| 2024 |  | 2023 |  | 2022
Revenues | $ | 165,615 |  |  | $ | 140,272 |  |  | $ | 135,510 |
Expenses | $ | 146,081 |  |  | $ | 137,426 |  |  | $ | 110,842 |
In fiscal 2024 and 2022, our smart home technology business recognized gains of $4.4 million and $9.0 million, respectively, from bulk sales of security monitoring accounts, which is included in income from ancillary businesses above. No similar gains were recognized in fiscal 2023. In fiscal 2024, 2023 and 2022, we recognized $8.9 million and $8.4 million, and $0.3 million, of write-offs related to previously incurred costs that we believed not to be recoverable in our apartment rental development business operations, respectively. In fiscal 2024 and 2023, income from ancillary businesses included management fees earned on our apartment rental development, high-rise urban luxury condominium, and other unconsolidated entities and operations totaling $35.7 million and $34.7 million, respectively. In fiscal 2022, income from ancillary businesses included management fees earned on our apartment rental development and other unconsolidated entities and operations totaling $25.9 million. Prior to fiscal 2023, management fees earned on our high-rise luxury condominium unconsolidated entities were included in “Management fees earned by home building operations” above.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/720/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 610 -Publisher FASB -URI https://asc.fasb.org/610/tableOfContent + Details
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