v3.25.4

Note 10 - Operating and Reporting Segments (Tables) | 12 Months Ended
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Oct. 31, 2025
Operating and Reporting Segments |
Schedule of financial information relating to our reportable segments |
| Year Ended October 31, 2025 |
(In thousands) |  | Northeast |  |  |  | Southeast |  |  |  | West |  |  |  | Financial Services |  |  |  | Total |
Homebuilding revenues | $ | 1,146,746 |  |  | $ | 349,448 |  |  | $ | 1,356,714 |  |  | $ | - |  |  | $ | 2,852,908 |
Financial services revenues |  | - |  |  |  | - |  |  |  | - |  |  |  | 94,975 |  |  |  | 94,975 |
All other revenues (1) |  | 4,895 |  |  |  | 532 |  |  |  | 20,359 |  |  |  | - |  |  |  | 25,786 |
Total |  | 1,151,641 |  |  |  | 349,980 |  |  |  | 1,377,073 |  |  |  | 94,975 |  |  |  | 2,973,669 |
Cost of sales (2) |  | 945,566 |  |  |  | 308,978 |  |  |  | 1,243,226 |  |  |  | - |  |  |  | 2,497,770 |
Selling, general and administrative |  | 63,117 |  |  |  | 33,970 |  |  |  | 97,685 |  |  |  | - |  |  |  | 194,772 |
Financial services expenses |  | - |  |  |  | - |  |  |  | - |  |  |  | 56,001 |  |  |  | 56,001 |
Other segment items (3) |  | (22,572 | ) |  |  | (8,427 | ) |  |  | 21,047 |  |  |  | - |  |  |  | (9,952 | )
Total segment profit | $ | 165,530 |  |  | $ | 15,459 |  |  | $ | 15,115 |  |  | $ | 38,974 |  |  | $ | 235,078 |
Corporate and unallocated (4) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 148,991 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 86,087 |
| Year Ended October 31, 2024 |
(In thousands) |  | Northeast |  |  |  | Southeast |  |  |  | West |  |  |  | Financial Services |  |  |  | Total |
Homebuilding revenues | $ | 1,007,595 |  |  | $ | 447,804 |  |  | $ | 1,420,088 |  |  | $ | - |  |  | $ | 2,875,487 |
Financial services revenues |  | - |  |  |  | - |  |  |  | - |  |  |  | 74,064 |  |  |  | 74,064 |
All other revenues (1) |  | 28,453 |  |  |  | 1,098 |  |  |  | 17,806 |  |  |  | - |  |  |  | 47,357 |
Total |  | 1,036,048 |  |  |  | 448,902 |  |  |  | 1,437,894 |  |  |  | 74,064 |  |  |  | 2,996,908 |
Cost of sales (2) |  | 799,549 |  |  |  | 351,152 |  |  |  | 1,214,675 |  |  |  | - |  |  |  | 2,365,376 |
Selling, general and administrative |  | 62,665 |  |  |  | 34,607 |  |  |  | 85,317 |  |  |  | - |  |  |  | 182,589 |
Financial services expenses |  | - |  |  |  | - |  |  |  | - |  |  |  | 49,940 |  |  |  | 49,940 |
Other segment items (3) |  | (17,219 | ) |  |  | (14,532 | ) |  |  | 11,189 |  |  |  | - |  |  |  | (20,562 | )
Total segment profit | $ | 191,053 |  |  | $ | 77,675 |  |  | $ | 126,713 |  |  | $ | 24,124 |  |  | $ | 419,565 |
Corporate and unallocated (4) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 102,476 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 317,089 |
| Year Ended October 31, 2023 |
(In thousands) |  | Northeast |  |  |  | Southeast |  |  |  | West |  |  |  | Financial Services |  |  |  | Total |
Homebuilding revenues | $ | 933,156 |  |  | $ | 419,656 |  |  | $ | 1,277,645 |  |  | $ | - |  |  | $ | 2,630,457 |
Financial services revenues |  | - |  |  |  | - |  |  |  | - |  |  |  | 60,088 |  |  |  | 60,088 |
All other revenues (1) |  | 35,697 |  |  |  | 639 |  |  |  | 18,347 |  |  |  | - |  |  |  | 54,683 |
Total |  | 968,853 |  |  |  | 420,295 |  |  |  | 1,295,992 |  |  |  | 60,088 |  |  |  | 2,745,228 |
Cost of sales (2) |  | 740,829 |  |  |  | 323,228 |  |  |  | 1,071,256 |  |  |  | - |  |  |  | 2,135,313 |
Selling, general and administrative |  | 63,793 |  |  |  | 29,562 |  |  |  | 84,367 |  |  |  | - |  |  |  | 177,722 |
Financial services expenses |  | - |  |  |  | - |  |  |  | - |  |  |  | 40,724 |  |  |  | 40,724 |
Other segment items (3) |  | (16,033 | ) |  |  | (10,893 | ) |  |  | 21,087 |  |  |  | - |  |  |  | (5,839 | )
Total Segment Profit | $ | 180,264 |  |  | $ | 78,398 |  |  | $ | 119,282 |  |  | $ | 19,364 |  |  | $ | 397,308 |
Corporate and unallocated (4) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 141,357 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 255,951 |
(1) | Consists primarily of land sales revenue, interest income, and income from forfeited customer deposits due to contract cancellations.
(2) | Consists primarily of homebuilding and land sale costs, amortization of capitalized interest, inventory impairments and land option write-offs.
(3) | Consists primarily of other interest expensed, and income (loss) from unconsolidated joint ventures.
(4) | Consists primarily of corporate costs and shared services functions that are not allocated to the homebuilding or financial services reportable segments.
|  | October 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Assets: |  |  |  |  |  |  |  |
Northeast |  | $ | 672,021 |  |  | $ | 664,064 |
Southeast |  |  | 358,383 |  |  |  | 296,058 |
West |  |  | 829,683 |  |  |  | 889,704 |
Financial services |  |  | 151,211 |  |  |  | 203,589 |
Total |  | $ | 2,011,298 |  |  | $ | 2,053,415 |
|  | October 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Investments in and advances to unconsolidated joint ventures: |  |  |  |  |  |  |  |
Northeast |  | $ | 97,024 |  |  | $ | 79,659 |
Southeast |  |  | 29,765 |  |  |  | 55,344 |
West |  |  | 34,065 |  |  |  | 6,348 |
Total |  | $ | 160,854 |  |  | $ | 141,351 |

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