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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Oct. 31, 2024
Oct. 31, 2023
Oct. 31, 2022
Cash flows from operating activities:      
Net income $ 242,008 $ 205,891 $ 225,490
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 7,730 8,798 5,457
Stock-based compensation 25,269 14,227 10,276
(Accretion) amortization of debt discounts, premiums and debt issuance costs (1,041) 1,645 376
Gain on sale of property and assets (1,143) (1,106) (34)
Gain on consolidation of joint ventures (45,653) (19,102) 0
Income from unconsolidated joint ventures (52,262) (43,160) (29,033)
Distributions of earnings from unconsolidated joint ventures 3,919 18,650 3,990
(Gain) loss on extinguishment of debt (1,371) 25,638 6,795
Noncontrolling interest in consolidated joint ventures 0 38 270
Inventory impairments and land option write-offs 11,556 1,536 14,076
(Increase) decrease in assets:      
Inventories (183,522) 278,672 (279,000)
Receivables, deposits and notes (11,901) 11,296 (2,632)
Origination of mortgage loans (1,567,961) (1,216,923) (1,205,604)
Sale of mortgage loans 1,549,272 1,197,988 1,245,408
Deferred tax assets 61,769 41,960 80,885
(Decrease) increase in liabilities:      
Accounts payable, accrued interest and other liabilities (349) (59,554) 7,705
Customers’ deposits (16,298) (29,913) 5,725
State income tax payable 3,618 (1,306) (684)
Net cash provided by operating activities 23,640 435,275 89,466
Cash flows from investing activities:      
Proceeds from sale of property and assets 1,419 1,961 63
Purchase of property, equipment, and other fixed assets (17,859) (18,821) (12,592)
Investment in and advances to unconsolidated joint ventures, net of reimbursements (34,436) (77,822) 35
Distributions of capital from unconsolidated joint ventures 4,404 16,447 10,342
Net cash used in investing activities (46,472) (78,235) (2,152)
Cash flows from financing activities:      
Proceeds from mortgages and notes 301,017 324,849 438,883
Payments related to mortgages and notes (340,093) (382,933) (418,383)
Proceeds from model sale leaseback financing programs 27,136 12,412 35,030
Payments related to model sale leaseback financing programs (22,564) (21,875) (14,857)
Proceeds from land bank financing programs 98,735 53,115 189,952
Payments related to land bank financing programs (86,624) (123,109) (68,746)
Proceeds from partner distributions to consolidated joint venture 0 0 40
Payments for partner distributions to consolidated joint venture 0 0 (782)
Net proceeds (payments) related to mortgage warehouse lines of credit 20,643 16,432 (40,618)
Net borrowings from senior secured notes 0 640,925 0
Payments related to senior secured notes (145,000) (752,182) (103,875)
Preferred dividends paid (10,675) (10,675) (10,675)
Treasury stock purchases (26,528) (4,800) (12,222)
Debt issuance costs from note issuances, land banking financing programs and model sale leaseback financing programs (3,973) (13,870) (10,267)
Net cash used in financing activities (187,926) (261,711) (16,520)
Net (decrease) increase in cash and cash equivalents, and restricted cash and cash equivalents (210,758) 95,329 70,794
Cash and cash equivalents, and restricted cash and cash equivalents balance, beginning of period 477,519 382,190 311,396
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 266,761 477,519 382,190
Supplemental disclosures of cash flows:      
Interest, net of capitalized interest (see Note 3 to the Consolidated Financial Statements) 47,803 62,576 44,872
Income taxes 9,694 9,407 14,062
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 266,761 477,519 382,190
Home Building [Member]      
Supplemental disclosures of cash flows:      
Cash and cash equivalents 209,976 434,119 326,198
Restricted Cash and Cash Equivalents 7,875 8,431 13,382
Financial Services [Member]      
Supplemental disclosures of cash flows:      
Cash and cash equivalents 6,589 4,519 6,468
Restricted Cash and Cash Equivalents $ 42,321 $ 30,450 $ 36,142