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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Cash flows from operating activities:    
Net income $ 147,659 $ 108,626
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation 5,679 7,223
Stock-based compensation 20,208 9,553
Amortization of debt discounts, premiums and deferred financing costs (366) 1,561
Gain on sale of property and assets (941) (81)
Gain on consolidation of joint venture (45,653) (19,102)
Income from unconsolidated joint ventures (36,814) (20,969)
Distributions of earnings from unconsolidated joint ventures 3,170 13,382
(Gain) loss on extinguishment of debt (1,371) 4,082
Noncontrolling interest in consolidated joint ventures 0 22
Inventory impairments and land option write-offs 3,638 922
(Increase) decrease in assets:    
Inventories (181,270) 217,211
Receivables, deposits and notes (25,138) 12,638
Origination of mortgage loans (1,083,465) (811,015)
Sale of mortgage loans 1,065,098 841,659
Deferred tax assets 44,924 20,095
Increase (decrease) in liabilities:    
Accounts payable, accrued interest and other liabilities 3,819 (74,050)
Customers’ deposits (9,146) (17,425)
State income tax payable (2,215) (2,733)
Net cash (used in) provided by operating activities (92,184) 291,599
Cash flows from investing activities:    
Proceeds from sale of property and assets 951 459
Purchase of property, equipment, and other fixed assets (13,437) (13,203)
Investment in and advances to unconsolidated joint ventures, net of reimbursements (32,162) (78,560)
Distributions of capital from unconsolidated joint ventures 4,353 12,889
Net cash used in investing activities (40,295) (78,415)
Cash flows from financing activities:    
Proceeds from mortgages and notes 227,612 249,041
Payments related to mortgages and notes (241,496) (269,453)
Proceeds from model sale leaseback financing programs 25,619 12,412
Payments related to model sale leaseback financing programs (17,728) (14,551)
Proceeds from land bank financing programs 75,969 34,713
Payments related to land bank financing programs (72,132) (90,056)
Net proceeds (payments) related to mortgage warehouse lines of credit 23,688 (32,468)
Payments related to senior notes, senior secured notes and senior unsecured term loans (145,000) (101,937)
Preferred dividends paid (8,007) (8,007)
Treasury stock purchases (26,539) (4,800)
Deferred financing costs from land banking financing programs and note issuances (3,155) (2,891)
Net cash used in financing activities (161,169) (227,997)
Net decrease in cash and cash equivalents, and restricted cash and cash equivalents (293,648) (14,813)
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 183,871 367,377
Supplemental disclosures of cash flows:    
Interest, net of capitalized interest 23,091 26,630
Income taxes 8,856 8,571
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 183,871 367,377
Home Building [Member]    
Supplemental disclosures of cash flows:    
Cash and cash equivalents 122,036 325,182
Restricted Cash and Cash Equivalents 9,615 8,623
Financial Services [Member]    
Supplemental disclosures of cash flows:    
Cash and cash equivalents 5,847 4,119
Restricted Cash and Cash Equivalents $ 46,373 $ 29,453