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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Apr. 30, 2019
Apr. 30, 2018
Apr. 30, 2019
Apr. 30, 2018
Revenues $ 440,691 $ 502,544 $ 821,285 $ 919,710
Inventory impairment loss and land option write-offs     2,166 3,087
Total expenses 462,855 512,025 870,117 954,486
Corporate general and administrative 16,169 16,144 33,833 35,279
Other interest [1],[2] 22,663 26,088 44,936 55,219
Other operations 329 402 571 792
Loss on extinguishment of debt (1,440) (1,440)
Income (loss) from unconsolidated joint ventures 7,252 1,343 16,814 (3,833)
Loss before income taxes (14,912) (9,578) (32,018) (40,049)
Tax provision (benefit) 345 245 691 583
Net (loss) $ (15,257) $ (9,823) $ (32,709) $ (40,632)
Net (loss) per common share (in dollars per share) $ (2.56) $ (1.65) $ (5.49) $ (6.85)
Weighted-average number of common shares outstanding, basic (in shares) 5,962 5,937 5,960 5,929
State and Local Jurisdiction [Member]        
Tax provision (benefit) $ 345 $ 245 $ 691 $ 583
Domestic Tax Authority [Member]        
Tax provision (benefit)
Homebuilding [Member]        
Revenues 428,384 489,490 799,370 895,768
Cost of sales, excluding interest 355,477 393,012 660,404 722,539
Cost of sales interest 13,898 19,364 24,140 31,656
Inventory impairment loss and land option write-offs 1,462 2,673 2,166 3,087
Total cost of sales 370,837 415,049 686,710 757,282
Selling, general and administrative 44,179 45,544 86,915 88,775
Total expenses 415,016 460,593 773,625 846,057
Homebuilding [Member] | Home Building [Member]        
Revenues 427,552 468,117 789,687 869,694
Homebuilding [Member] | Land Sales and Other Revenues [Member]        
Revenues 832 21,373 9,683 26,074
Financial Services [Member]        
Revenues 12,307 13,054 21,915 23,942
Total expenses $ 8,678 $ 8,798 $ 17,152 $ 17,139
[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 and Six Months Ended April 30, (In thousands) 2019 2018 Other interest expensed $22,663 $26,088 $44,936 $55,219 Interest paid by our mortgage and finance subsidiaries $514 $585 $1,203 $1,186 Decrease in accrued interest $19,776 $23,448 $2,299 $3,302 Cash paid for interest, net of capitalized interest $3,401 $3,225 $43,840 $59,707
[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 $15.1 million and $19.9 million for the three months ended April 30, 2019 and 2018, respectively, and $32.7 million and $39.5 million for the six months ended April 30, 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 $7.6 million and $6.2 million for the three months ended April 30, 2019 and 2018, respectively, and $12.3 million and $15.8 million for the six months ended April 30, 2019 and 2018, respectively.