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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Cash flows from operating activities:    
Net income $ 52,862 $ 87,243
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 5,924 2,489
Stock-based compensation 4,235 3,394
Amortization of debt discounts, premiums and deferred financing costs 722 (194)
Loss (gain) on sale of property and assets 15 (37)
Income from unconsolidated joint ventures (12,568) (11,362)
Distributions of earnings from unconsolidated joint ventures 4,522 2,743
Loss on extinguishment of debt 0 6,795
Noncontrolling interest in consolidated joint ventures 11 139
Decrease (increase) in assets:    
Inventories 48,453 (238,571)
Receivables, deposits and notes 4,516 (4,337)
Origination of mortgage loans (516,798) (598,600)
Sale of mortgage loans 548,722 656,300
Deferred tax assets 8,101 25,121
(Decrease) increase in liabilities:    
Accounts payable, accrued interest and other liabilities (77,536) (25,227)
Customers’ deposits (2,661) 32,150
State income tax payable (3,167) (913)
Net cash provided by (used in) operating activities 65,967 (62,203)
Cash flows from investing activities:    
Proceeds from sale of property and assets 93 63
Purchase of property, equipment, and other fixed assets (8,169) (5,335)
Investment in and advances to unconsolidated joint ventures, net of reimbursements (20,042) (152)
Distributions of capital from unconsolidated joint ventures 7,663 2,324
Net cash used in investing activities (20,455) (3,100)
Cash flows from financing activities:    
Proceeds from mortgages and notes 152,519 230,984
Payments related to mortgages and notes (163,190) (158,608)
Proceeds from model sale leaseback financing programs 11,830 26,982
Payments related to model sale leaseback financing programs (5,587) (8,551)
Proceeds from land bank financing programs 30,335 69,741
Payments related to land bank financing programs (39,063) (25,953)
Proceeds from partner distributions to consolidated joint venture 0 40
Payments for partner distributions to consolidated joint venture 0 (270)
Payments related to senior secured notes 0 (103,875)
Preferred dividends paid (5,338) (5,338)
Treasury stock purchases (4,800) 0
Deferred financing costs from land banking financing programs and note issuances (1,815) (3,962)
Net cash used in financing activities (56,988) (39,244)
Net decrease in cash and cash equivalents, and restricted cash and cash equivalents (11,476) (104,547)
Cash and cash equivalents, and restricted cash and cash equivalents balance, beginning of period 382,190 311,396
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 370,714 206,849
Supplemental disclosures of cash flows:    
Interest, net of capitalized interest (see Note 3 to the Condensed Consolidated Financial Statements) 27,098 26,434
Income taxes 6,888 4,895
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 370,714 206,849
Homebuilding [Member]    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Inventory impairments and land option write-offs 614 664
Supplemental disclosures of cash flows:    
Cash and cash equivalents 333,254 149,431
Restricted cash and cash equivalents 7,916 14,283
Financial Services [Member]    
Cash flows from financing activities:    
Net payments related to mortgage warehouse lines of credit (31,879) (60,434)
Supplemental disclosures of cash flows:    
Cash and cash equivalents 3,790 3,939
Restricted cash and cash equivalents $ 25,754 $ 39,196