XML 22 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Oct. 31, 2013
Cash flows from operating activities:      
Net (loss) income $ (16,100) $ 307,144 $ 31,295
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation 3,388 3,417 4,712
Compensation from stock options and awards 8,816 10,279 6,842
Amortization of bond discounts and deferred financing costs 11,687 10,320 7,843
Gain on sale and retirement of property and assets (1,119) (483) (4,696)
Income from unconsolidated joint ventures (4,169) (7,897) (12,040)
Distributions of earnings from unconsolidated joint ventures 8,438 6,044 2,340
Loss on extinguishment of debt   1,155 760
Inventory impairment and land option write-offs 12,044 5,224 4,965
Deferred income tax benefit (4,691) (287,740)  
(Increase) decrease in assets:      
Origination of mortgage loans (1,042,407) (807,411) (893,960)
Sale of mortgage loans 1,007,425 825,026 898,031
Restricted cash, receivables, prepaids, deposits and other assets 10,855 (48,908) 52,940
Inventories (312,312) (270,770) (111,770)
(Decrease) increase in liabilities:      
State and federal income tax payable (1,045) (104) (3,581)
Customers’ deposits 9,249 4,850 6,273
Accounts payable, accrued interest and other accrued liabilities (10,594) 59,269 19,314
Net cash (used in) provided by operating activities (320,535) (190,585) 9,268
Cash flows from investing activities:      
Proceeds from sale of property and assets 1,573 515 7,369
Purchase of property, equipment, and other fixed assets and acquisitions (2,054) (3,423) (1,558)
Decrease (Increase) in Restricted Cash 1,555 (655)  
Investment in and advances to unconsolidated joint ventures (18,707) (21,699) (4,907)
Distributions of capital from unconsolidated joint ventures 17,112 11,107 24,806
Net cash provided by (used in) investing activities 2,472 (14,155) 30,285
Cash flows from financing activities:      
Proceeds from mortgages and notes 180,284 152,906 109,209
Payments related to mortgages and notes (140,901) (112,136) (76,142)
Proceeds from model sale leaseback financing programs 43,181 42,402 21,948
Payments related to model sale leaseback financing programs (20,197) (23,188) (9,193)
Proceeds from land bank financing programs 16,985 24,696 36,233
Payments related to land bank financing programs (24,330) (42,002) (39,669)
Proceeds from senior notes 250,000 121,447  
Payments related to senior notes (60,815) (22,593) (40,424)
Borrowings from revolving credit facility 47,000    
Net proceeds (payments) related to mortgage warehouse lines of credit 31,956 (14,744) (15,822)
Deferred financing cost from land banking financing programs and note issuances (9,015) (11,947) (5,071)
Principal payments and debt repurchases (4,238) (5,960) (6,231)
Net cash provided by financing activities 309,910 137,434 16,419
Net (decrease) increase in cash and cash equivalents (8,153) (67,306) 55,972
Cash and cash equivalents balance, beginning of year 261,898 329,204 273,232
Cash and cash equivalents balance, end of year 253,745 261,898 329,204
Cash paid during the period for:      
Interest, net of capitalized interest (see Note 3 to the Consolidated Financial Statements) 85,719 85,386 86,257
Income taxes 1,779 538 (5,780)
Related to Mortgage Company [Member]      
Cash flows from investing activities:      
Decrease (Increase) in Restricted Cash 1,555 (655) 4,575
Related to Letters of Credit [Member]      
Cash flows from investing activities:      
Decrease (Increase) in Restricted Cash 2,993    
Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]      
Cash flows from financing activities:      
Proceeds from senior notes $ 250,000 $ 150,000 $ 41,581