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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Cash flows from operating activities:    
Net income $ 23,904 $ 18,716
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 1,598 1,410
Stock-based compensation 4,073 2,070
Amortization of debt discounts, premiums and deferred financing costs 214 330
Gain on sale of property and assets (41) (14)
Income from unconsolidated joint ventures (14,952) (7,160)
Distributions of earnings from unconsolidated joint ventures 1,010 692
Gain on extinguishment of debt (1,371) 0
Inventory impairments and land option write-offs 302 477
(Increase) decrease in assets:    
Inventories (114,674) 11,669
Receivables, deposits and notes 4,694 5,772
Origination of mortgage loans (306,156) (215,477)
Sale of mortgage loans 337,346 251,923
Deferred tax assets 7,501 (2,576)
(Decrease) increase in liabilities:    
Accounts payable, accrued interest and other liabilities (33,553) (98,125)
Customers’ deposits 379 (2,777)
State income tax payable 722 1,824
Net cash used in operating activities (89,004) (31,246)
Cash flows from investing activities:    
Proceeds from sale of property and assets 43 69
Purchase of property, equipment, and other fixed assets (5,442) (3,740)
Investment in and advances to unconsolidated joint ventures, net of reimbursements 0 (22,238)
Distributions of capital from unconsolidated joint ventures 1,278 2,633
Net cash used in investing activities (4,121) (23,276)
Cash flows from financing activities:    
Proceeds from mortgages and notes 78,867 57,704
Payments related to mortgages and notes (71,257) (68,958)
Proceeds from model sale leaseback financing programs 0 1,310
Payments related to model sale leaseback financing programs (5,907) (3,303)
Proceeds from land bank financing programs 18,407 21,317
Payments related to land bank financing programs (22,296) (12,553)
Net payments related to mortgage warehouse lines of credit (27,004) (35,971)
Payments related to senior secured notes (113,502) 0
Preferred dividends paid (2,669) (2,669)
Treasury stock purchases 0 (4,800)
Deferred financing costs from land banking financing programs and note issuances (910) (464)
Net cash used in financing activities (146,271) (48,387)
Net decrease in cash and cash equivalents, and restricted cash and cash equivalents (239,396) (102,909)
Cash and cash equivalents, and restricted cash and cash equivalents balance, beginning of period 477,519 382,190
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 238,123 279,281
Supplemental disclosures of cash flows:    
Interest, net of capitalized interest (2,965) (3,904)
Income taxes 435 84
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 238,123 279,281
Home Building [Member]    
Supplemental disclosures of cash flows:    
Cash and cash equivalents 183,118 234,929
Restricted cash and cash equivalents 8,369 8,154
Financial Services [Member]    
Supplemental disclosures of cash flows:    
Cash and cash equivalents 4,522 4,682
Restricted cash and cash equivalents $ 42,114 $ 31,516