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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Jan. 31, 2019
Jan. 31, 2018
Revenues $ 380,594 $ 417,166
Inventory impairment loss and land option write-offs 704 414
Total expenses 407,262 442,461
Corporate general and administrative 17,664 19,135
Real Estate Inventory Expense Not Eligible for Capitalization [1],[2] 22,273 29,131
Other operations 242 390
Income (loss) from unconsolidated joint ventures 9,562 (5,176)
(Loss) before income taxes (17,106) (30,471)
Tax provision (benefit) 346 338
Net (loss) $ (17,452) $ (30,809)
Net (loss) per common share (in dollars per share) $ (0.12) $ (0.21)
Weighted-average number of common shares outstanding, basic (in shares) 148,958 148,028
Net (loss) per common share (in dollars per share) $ (0.12) $ (0.21)
Weighted-average number of common shares outstanding, assuming dilution (in shares) 148,958 148,028
State and Local Jurisdiction [Member]    
Tax provision (benefit) $ 346 $ 338
Domestic Tax Authority [Member]    
Tax provision (benefit)
Homebuilding [Member]    
Revenues 370,986 406,278
Cost of sales, excluding interest 304,927 329,527
Cost of sales interest 10,242 12,292
Inventory impairment loss and land option write-offs 704 414
Total cost of sales 315,873 342,233
Selling, general and administrative 42,736 43,231
Total expenses 358,609 385,464
Homebuilding [Member] | Home Building [Member]    
Revenues 362,135 401,577
Homebuilding [Member] | Land Sales and Other Revenues [Member]    
Revenues 8,851 4,701
Financial Services [Member]    
Revenues 9,608 10,888
Total expenses $ 8,474 $ 8,341
[1] Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows: Three Months Ended January 31, (In thousands) 2019 2018 Other interest expensed $22,273 $29,131 Interest paid by our mortgage and finance subsidiaries 689 601 Decrease in accrued interest 17,477 26,750 Cash paid for interest, net of capitalized interest $40,439 $56,482
[2] Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt, which amounted to $17.6 million and $19.6 million for the three months ended January 31, 2019 and 2018, respectively. Other interest also includes interest on completed homes, land in planning and fully developed lots without homes under construction, which does not qualify for capitalization, and therefore, is expensed. This component of other interest was $4.7 million and $9.6 million for the three months ended January 31, 2019 and 2018, respectively.