Note 20 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors (Tables)

9 Months Ended

Jul. 31, 2017

Condensed Balance Sheet [Table Text Block]

	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Nonguarantor Subsidiaries		Eliminations			Consolidated
ASSETS:
Homebuilding	$	-		$	211,869		$	1,088,088		$	412,640	$	-		$	1,712,597
Financial services								19,018			90,704					109,722
Intercompany receivable					1,216,923						13,634		(1,230,557	)		-
Investments in and amounts due from consolidated subsidiaries								380,546					(380,546	)		-
Total assets	$	-		$	1,428,792		$	1,487,652		$	516,978	$	(1,611,103	)	$	1,822,319

LIABILITIES AND EQUITY:

Homebuilding, excluding Notes payable and term loan and Revolving credit facility	$	2,756		$	1,571		$	481,863		$	65,383	$	-		$	551,573
Financial services								19,021			70,548					89,569
Income taxes (receivable) payable		(2,233	)					4,029								1,796
Notes payable and term loan and Revolving credit facility					1,648,211			1,834			498					1,650,543
Intercompany payable		153,060						1,077,497					(1,230,557	)		-
Amounts due to consolidated subsidiaries		317,579			73,936								(391,515	)		-
Stockholders ’ (deficit) equity		(471,162	)		(294,926	)		(96,592	)		380,549		10,969			(471,162	)
Total liabilities and equity	$	-		$	1,428,792		$	1,487,652		$	516,978	$	(1,611,103	)	$	1,822,319

	Parent			Subsidiary Issuer			Guarantor Subsidiaries		Nonguarantor Subsidiaries		Eliminations			Consolidated
ASSETS:
Homebuilding	$	-		$	271,216		$	1,194,267	$	408,610	$	-		$	1,874,093
Financial services								13,453		183,777					197,230
Income taxes receivable		115,940			(58,597	)		226,258		32					283,633
Intercompany receivable					1,227,334					88,112		(1,315,446	)		-
Investments in and amounts due from consolidated subsidiaries					4,914			437,628				(442,542	)		-
Total assets	$	115,940		$	1,444,867		$	1,871,606	$	680,531	$	(1,757,988	)	$	2,354,956

LIABILITIES AND EQUITY:

Homebuilding, excluding Notes payable and term loan and Revolving credit facility	$	3,506		$	1,118		$	565,163	$	83,476	$	-		$	653,263
Financial services								13,338		159,107					172,445
Notes payable and term loan and Revolving credit facility					1,652,357			5,084		317					1,657,758
Intercompany payable		157,993						1,157,453				(1,315,446	)		-
Amounts due to consolidated subsidiaries		82,951										(82,951	)		-
Stockholders ’ (deficit) equity		(128,510	)		(208,608	)		130,568		437,631		(359,591	)		(128,510	)
Total liabilities and equity	$	115,940		$	1,444,867		$	1,871,606	$	680,531	$	(1,757,988	)	$	2,354,956

Condensed Income Statement [Table Text Block]

	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Nonguarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Homebuilding	$	-		$	-		$	489,346		$	87,696		$	-		$	577,042
Financial services								2,569			12,424						14,993
Intercompany charges					21,792									(21,792	)		-
Total revenues		-			21,792			491,915			100,120			(21,792	)		592,035

Expenses:
Homebuilding		375			33,132			477,253			76,442						587,202
Financial services		20						1,714			7,133						8,867
Intercompany charges								21,792						(21,792	)		-
Total expenses		395			33,132			500,759			83,575			(21,792	)		596,069
Loss on extinguishment of debt					(42,258	)											(42,258	)
Income (loss) from unconsolidated joint ventures								83			(3,964	)					(3,881	)
(Loss) income before income taxes		(395	)		(53,598	)		(8,761	)		12,581			-			(50,173	)
State and federal income tax provision (benefit)		129,825			(43,308	)		200,487			32						287,036
Equity in (loss) income of consolidated subsidiaries		(206,989	)		(49,961	)		12,549						244,401			-
Net (loss) income	$	(337,209	)	$	(60,251	)	$	(196,699	)	$	12,549		$	244,401		$	(337,209	)

	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Nonguarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Homebuilding	$	-		$	-		$	595,124		$	105,241		$	-		$	700,365
Financial services								2,645			13,840						16,485
Intercompany charges					26,433									(26,433	)		-
Total revenues		-			26,433			597,769			119,081			(26,433	)		716,850

Expenses:
Homebuilding		1,277			32,225			565,447			105,491						704,440
Financial services		16						1,761			7,139						8,916
Intercompany charges								27,239			(806	)		(26,433	)		-
Total expenses		1,293			32,225			594,447			111,824			(26,433	)		713,356
Income (loss) from unconsolidated joint ventures								17			(2,418	)					(2,401	)
(Loss) income before income taxes		(1,293	)		(5,792	)		3,339			4,839			-			1,093
State and federal income tax (benefit) provision		(484	)		(6,936	)		8,987									1,567
Equity in income (loss) of consolidated subsidiaries		335			93			4,839						(5,267	)		-
Net (loss) income	$	(474	)	$	1,237		$	(809	)	$	4,839		$	(5,267	)	$	(474	)

	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Nonguarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Homebuilding	$	-		$	-		$	1,428,660		$	258,983		$	-		$	1,687,643
Financial services								7,816			34,520						42,336
Intercompany charges					67,950									(67,950	)		-
Total revenues		-			67,950			1,436,476			293,503			(67,950	)		1,729,979

Expenses:
Homebuilding		2,374			99,161			1,394,594			223,354						1,719,483
Financial services		20						5,187			17,875						23,082
Intercompany charges								67,950						(67,950	)		-
Total expenses		2,394			99,161			1,467,731			241,229			(67,950	)		1,742,565
Loss on extinguishment of debt					(34,854	)											(34,854	)
Income (loss) from unconsolidated joint ventures								119			(10,228	)					(10,109	)
(Loss) income before income taxes		(2,394	)		(66,065	)		(31,136	)		42,046			-			(57,549	)
State and federal income tax provision (benefit)		107,012			(58,597	)		238,038			32						286,485
Equity in (loss) income of consolidated subsidiaries		(234,628	)		(78,850	)		42,014						271,464			-
Net (loss) income	$	(344,034	)	$	(86,318	)	$	(227,160	)	$	42,014		$	271,464		$	(344,034	)

	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Nonguarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Homebuilding	$	-		$	-		$	1,593,452		$	302,012		$	-		$	1,895,464
Financial services								7,566			44,148						51,714
Intercompany charges					87,540									(87,540	)		-
Total revenues		-			87,540			1,601,018			346,160			(87,540	)		1,947,178

Expenses:
Homebuilding		2,874			101,432			1,557,620			282,981						1,944,907
Financial services		16						5,208			21,525						26,749
Intercompany charges								87,540						(87,540	)		-
Total expenses		2,890			101,432			1,650,368			304,506			(87,540	)		1,971,656
Income (loss) from unconsolidated joint ventures								40			(5,267	)					(5,227	)
(Loss) income before income taxes		(2,890	)		(13,892	)		(49,310	)		36,387			-			(29,705	)
State and federal income tax (benefit) provision		(19,919	)		(22,264	)		37,586									(4,597	)
Equity in (loss) income of consolidated subsidiaries		(42,137	)		(26,979	)		36,387						32,729			-
Net (loss) income	$	(25,108	)	$	(18,607	)	$	(50,509	)	$	36,387		$	32,729		$	(25,108	)

Condensed Cash Flow Statement [Table Text Block]

	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Nonguarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss) income	$	(344,034	)	$	(86,318	)	$	(227,160	)	$	42,014		$	271,464		$	(344,034	)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities		114,339			(28,510	)		674,835			286			(271,464	)		489,486
Net cash (used in) provided by operating activities		(229,695	)		(114,828	)		447,675			42,300			-			145,452
Cash flows from investing activities:
Proceeds from sale of property and assets								199			10						209
Purchase of property, equipment & other fixed assets and acquisitions								(5,034	)								(5,034	)
Decrease in restricted cash related to mortgage company											1,686						1,686
Increase in restricted cash related to letters of credit					(2	)											(2	)
Investments in and advances to unconsolidated joint ventures					(624	)		(467	)		(32,312	)					(33,403	)
Distributions of capital from unconsolidated joint ventures											13,976						13,976
Intercompany investing activities					89,261									(89,261	)		-
Net cash provided by (used in) investing activities		-			88,635			(5,302	)		(16,640	)		(89,261	)		(22,568	)
Cash flows from financing activities:
Net payments related to mortgages and notes								(8,618	)		(3,800	)					(12,418	)
Net payments from model sale leaseback financing programs								(4,094	)		(3,273	)					(7,367	)
Net payments from land bank financing programs								(36,047	)		(9,973	)					(46,020	)
Proceeds from senior secured notes					840,000												840,000
Payments related to senior secured, senior, senior amortizing and senior exchangeable notes					(861,976	)											(861,976	)
Net payments related to mortgage warehouse lines of credit											(83,525	)					(83,525	)
Deferred financing costs from land bank financing programs and note issuances					(11,295	)		(1,150	)		(166	)					(12,611	)
Intercompany financing activities		229,695						(393,434	)		74,478			89,261			-
Net cash provided by (used in) financing activities		229,695			(33,271	)		(443,343	)		(26,259	)		89,261			(183,917	)
Net decrease in cash and cash equivalents		-			(59,464	)		(970	)		(599	)		-			(61,033	)
Cash and cash equivalents balance, beginning of period					261,553			(395	)		85,607						346,765
Cash and cash equivalents balance, end of period	$	-		$	202,089		$	(1,365	)	$	85,008		$	-		$	285,732

	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Nonguarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss) income	$	(25,108	)	$	(18,607	)	$	(50,509	)	$	36,387		$	32,729		$	(25,108	)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities		(9,089	)		(25,300	)		289,872			(3,090	)		(32,729	)		219,664
Net cash (used in) provided by operating activities		(34,197	)		(43,907	)		239,363			33,297			-			194,556
Cash flows from investing activities:
Proceeds from sale of property and assets								622			21						643
Purchase of property, equipment & other fixed assets and acquisitions								(5,064	)		(30	)					(5,094	)
Decrease in restricted cash related to mortgage company											88						88
Decrease in restricted cash related to letters of credit					873												873
Investments in and advances to unconsolidated joint ventures					(110	)		(1,395	)		(37,584	)					(39,089	)
Distributions of capital from unconsolidated joint ventures					(186	)		1,087			5,502						6,403
Intercompany investing activities					231,254									(231,254	)		-
Net cash (used in) provided by investing activities		-			231,831			(4,750	)		(32,003	)		(231,254	)		(36,176	)
Cash flows from financing activities:
Net (payments) proceeds related to mortgages and notes								(53,780	)		677						(53,103	)
Net (payments) proceeds from model sale leaseback financing programs								(977	)		357						(620	)
Net proceeds from land bank financing programs								69,388			22,331						91,719
Payments related to senior notes and senior amortizing notes					(263,994	)											(263,994	)
Net proceeds from revolving credit facility					5,000												5,000
Net proceeds related to mortgage warehouse lines of credit											6,781						6,781
Deferred financing costs from land bank financing programs and note issuances					(2,139	)		(4,180	)		(1,547	)					(7,866	)
Intercompany financing activities		34,197						(245,387	)		(20,064	)		231,254			-
Net cash provided by (used in) financing activities		34,197			(261,133	)		(234,936	)		8,535			231,254			(222,083	)
Net (decrease) increase in cash and cash equivalents		-			(73,209	)		(323	)		9,829			-			(63,703	)
Cash and cash equivalents balance, beginning of period					199,318			(4,800	)		59,227						253,745
Cash and cash equivalents balance, end of period	$	-		$	126,109		$	(5,123	)	$	69,056		$	-		$	190,042