9.	Leases

We rent certain office space for use in our operations. Our lease population at July 31, 2024 is comprised of operating leases where we are the lessee, primarily for our corporate office and division offices.

Lease costs are included in our Condensed Consolidated Statements of Operations, primarily in "Selling, general and administrative" homebuilding expenses, and payments on our lease liabilities are presented in the table below.

	Three Months Ended				Nine Months Ended
	July 31,				July 31,
(In thousands)	2024		2023		2024		2023
Operating lease costs	$	2,743	$	2,646	$	8,131	$	8,510
Cash payments on lease liabilities	$	2,224	$	2,222	$	6,604	$	6,959

Operating right-of-use lease assets ("ROU assets") are included in "Prepaid expenses and other assets" on our Condensed Consolidated Balance Sheets, while lease liabilities are included in "Accounts payable and other liabilities". During the three and nine months ended July 31, 2024 the Company recorded a net increase to both its ROU assets and lease liabilities of $3.4 million and $6.4 million, respectively, as a result of new leases that commenced during the period. The following table contains additional information about our leases:

(In thousands)	July 31, 2024			October 31, 2023
ROU assets	$	24,900		$	25,745
Lease liabilities	$	26,926		$	26,470
Weighted-average remaining lease term (in years)		4.7			5.1
Weighted-average discount rate		10.3	%		10.0	%

Maturities of our operating lease liabilities as of July 31, 2024 are as follows:

Fiscal Year Ending October 31,	(In thousands)
2024 (excluding the nine months ended July 31, 2024)	$	2,512
2025		9,761
2026		8,340
2027		5,803
2028		2,283
2029 and thereafter		5,167
Total operating lease payments		33,866
Less: imputed interest		(6,940	)
Present value of operating lease liabilities	$	26,926