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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Cash flows from operating activities:    
Net income $ 28,191 $ 23,904
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation 2,298 1,598
Stock-based compensation 3,649 4,073
Amortization of debt discounts, premiums and deferred financing costs (772) 214
Gain on sale of property and assets (778) (41)
Gain on assets contributed to joint venture (22,683) 0
Income from unconsolidated joint ventures (9,205) (14,952)
Distributions of earnings from unconsolidated joint ventures 1,700 1,010
Gain on extinguishment of debt 0 (1,371)
Inventory impairments and land option write-offs 1,040 302
(Increase) decrease in assets:    
Inventories (43) (114,674)
Receivables, deposits and notes (41,934) 4,694
Origination of mortgage loans (379,898) (306,156)
Sale of mortgage loans 412,670 337,346
Deferred tax assets 10,937 7,501
(Decrease) increase in liabilities:    
Accounts payable, accrued interest and other liabilities (62,842) (33,553)
Customers’ deposits 912 379
State income tax payable 879 722
Net cash used in operating activities (55,879) (89,004)
Cash flows from investing activities:    
Proceeds from sale of property and assets 882 43
Purchase of property, equipment, and other fixed assets (3,685) (5,442)
Investment in and advances to unconsolidated joint ventures, net of reimbursements (26,088) 0
Distributions of capital from unconsolidated joint ventures 3,825 1,278
Net cash used in investing activities (25,066) (4,121)
Cash flows from financing activities:    
Proceeds from mortgages and notes 58,171 78,867
Payments related to mortgages and notes (61,587) (71,257)
Proceeds from model sale leaseback financing programs 18,492 0
Payments related to model sale leaseback financing programs (2,785) (5,907)
Proceeds from land bank financing programs 14,896 18,407
Payments related to land bank financing programs (14,103) (22,296)
Net payments related to mortgage warehouse lines of credit (32,789) (27,004)
Payments related to senior notes, senior secured notes and senior unsecured term loan 0 (113,502)
Preferred dividends paid (2,669) (2,669)
Treasury stock purchases (18,050) 0
Deferred financing costs from land banking financing programs and note issuances (1,151) (910)
Net cash used in financing activities (41,575) (146,271)
Net decrease in cash and cash equivalents, and restricted cash and cash equivalents (122,520) (239,396)
Cash and cash equivalents, and restricted cash and cash equivalents balance, beginning of period 266,761 477,519
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 144,241 238,123
Supplemental disclosures of cash flows:    
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 144,241 238,123
Home Building [Member]    
Supplemental disclosures of cash flows:    
Cash and cash equivalents 94,258 183,118
Restricted Cash and Cash Equivalents 8,449 8,369
Financial Services [Member]    
Supplemental disclosures of cash flows:    
Cash and cash equivalents 4,529 4,522
Restricted Cash and Cash Equivalents $ 37,005 $ 42,114