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Note 18
 9 Months Ended
Jul. 31, 2013
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

18.  Our operating segments are components of our business for which discrete financial information is available and reviewed regularly by the chief operating decision-maker, our Chief Executive Officer, to evaluate performance and make operating decisions.  Based on this criteria, each of our communities qualifies as an operating segment, and therefore, it is impractical to provide segment disclosures for this many segments.  As such, we have aggregated the homebuilding operating segments into six reportable segments.


 Our homebuilding operating segments are aggregated into reportable segments based primarily upon geographic proximity, similar regulatory environments, land acquisition characteristics and similar methods used to construct and sell homes.  The Company’s reportable segments consist of the following six homebuilding segments and a financial services segment:


Homebuilding:


 (1) Northeast (New Jersey and Pennsylvania)


 (2) Mid-Atlantic (Delaware, Maryland, Virginia, West Virginia and Washington D.C.)


 (3) Midwest (Illinois, Minnesota and Ohio)


 (4) Southeast (Florida, Georgia, North Carolina and South Carolina)


 (5) Southwest (Arizona and Texas)


 (6) West (California)


Financial Services


Operations of the Company’s Homebuilding segments primarily include the sale and construction of single-family attached and detached homes, attached townhomes and condominiums, urban infill and active adult homes in planned residential developments.  In addition, from time to time, operations of the homebuilding segments include sales of land.  Operations of the Company’s Financial Services segment include mortgage banking and title services provided to the homebuilding operations’ customers.  We do not retain or service mortgages that we originate but rather sell the mortgages and related servicing rights to investors.


Corporate and unallocated primarily represents operations at our headquarters in Red Bank, New Jersey.  This includes our executive offices, information services, human resources, corporate accounting, training, treasury, process redesign, internal audit, construction services, and administration of insurance, quality, and safety.  It also includes interest income and interest expense resulting from interest incurred that cannot be capitalized in inventory in the Homebuilding segments, as well as the gains or losses on extinguishment of debt from debt repurchases.


Evaluation of segment performance is based primarily on operating earnings from continuing operations before provision for income taxes (“Income (loss) before income taxes”).  Income (loss) before income taxes for the Homebuilding segments consists of revenues generated from the sales of homes and land, income (loss) from unconsolidated entities, management fees and other income, less the cost of homes and land sold, selling, general and administrative expenses, interest expense and non-controlling interest expense.  Income before income taxes for the Financial Services segment consists of revenues generated from mortgage financing, title insurance and closing services, less the cost of such services and certain selling, general and administrative expenses incurred by the Financial Services segment.


Operational results of each segment are not necessarily indicative of the results that would have occurred had the segment been an independent stand-alone entity during the periods presented.


Financial information relating to the Company’s segment operations was as follows:


   

Three Months Ended July 31,

   

Nine Months Ended July 31,

 

(In thousands)

 

2013

   

2012

   

2013

   

2012

 
                                 

Revenues:

                               

Northeast

  $ 67,214     $ 65,742     $ 176,285     $ 159,049  

Mid-Atlantic

    89,365       77,131       200,489       196,302  

Midwest

    38,478       28,271       110,204       70,100  

Southeast

    35,731       24,660       101,884       81,215  

Southwest

    182,699       139,790       476,136       346,331  

West

    52,062       40,559       159,491       119,322  

Total homebuilding

    465,549       376,153       1,224,489       972,319  

Financial services

    12,878       10,787       35,219       25,990  

Corporate and unallocated

    (70

)

    71       (142

)

    -  

Total revenues

  $ 478,357     $ 387,011     $ 1,259,566     $ 998,309  
                                 

Income (loss) before income taxes:

                               

Northeast

  $ 1,028     $ 1,435     $ (8,510

)

  $ (4,338

)

Mid-Atlantic

    8,036       4,946       12,305       12,615  

Midwest

    1,941       294       5,420       (953

)

Southeast

    276       (2,417

)

    3,585       (9,150

)

Southwest

    22,230       11,815       46,871       24,600  

West

    3,757       (1,342

)

    5,084       (5,262

)

Homebuilding income before income taxes

    37,268       14,731       64,755       17,512  

Financial services

    6,238       4,676       14,014       9,339  

Corporate and unallocated

    (33,118

)

    (21,224

)

    (90,448

)

    (43,892

)

Income (loss) before income taxes

  $ 10,388     $ (1,817

)

  $ (11,679

)

  $ (17,041

)


(In thousands)

 

July 31, 2013

   

October 31, 2012

 
                 

Assets:

               

Northeast

  $ 360,882     $ 396,073  

Mid-Atlantic

    239,832       200,969  

Midwest

    88,922       73,305  

Southeast

    97,897       90,132  

Southwest

    313,986       235,367  

West

    154,049       143,851  

Total homebuilding

    1,255,568       1,139,697  

Financial services

    104,758       164,634  

Corporate and unallocated

    303,800       379,919  

Total assets

  $ 1,664,126     $ 1,684,250