v3.25.4

Note 6 - Restricted Cash and Customers' Deposits | 12 Months Ended
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Oct. 31, 2025
Restricted Cash and Customers' Deposits |
Restricted Cash and Customers' Deposits | 6. Restricted Cash and Customers’ Deposits Homebuilding “Restricted cash and cash equivalents” on the Consolidated Balance Sheets totaled $12.6 million and $7.9 million as of October 31, 2025 and 2024, respectively, which primarily consists of cash collateralizing our letter of credit agreements and facilities (see Note 9). Financial services restricted cash and cash equivalents, which are included in “Financial services” assets on the Consolidated Balance Sheets, totaled $27.7 million and $42.3 million as of October 31, 2025 and 2024, respectively. Included in these balances were (1) financial services customers’ deposits of $25.4 million and $39.2 million as of October 31, 2025 and 2024, respectively, which are subject to restrictions on our use, and (2) restricted cash under the terms of our mortgage warehouse lines of credit of $2.3 million and $3.1 million as of October 31, 2025 and 2024, respectively. Homebuilding “Customers’ deposits” are shown as a liability on the Consolidated Balance Sheets. These liabilities are significantly more than the applicable periods’ restricted cash balances because in some states the deposits are not restricted from use and, in other states, we are able to release the majority of these customer deposits to cash by pledging letters of credit and surety bonds.

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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
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