XML 42 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jul. 31, 2016
Jul. 31, 2015
Jul. 31, 2016
Jul. 31, 2015
Homebuilding [Member]        
Sale of homes $ 640,386 $ 526,156 $ 1,823,318 $ 1,414,799
Land sales and other revenues 59,979 97 72,146 2,538
Total homebuilding 700,365 526,253 1,895,464 1,417,337
Total revenues 700,336 526,284 1,895,527 1,417,443
Cost of sales, excluding interest 583,783 432,625 1,583,979 1,169,576
Cost of sales interest 28,406 16,323 66,693 39,654
Inventory impairment loss and land option write-offs 1,565 1,077 22,915 7,618
Total cost of sales 613,754 450,025 1,673,587 1,216,848
Selling, general and administrative 51,685 51,998 155,560 152,258
Total homebuilding expenses 665,439 502,023 1,829,147 1,369,106
Total expenses 704,440 541,922 1,944,907 1,493,839
Income (loss) before income taxes 18,228 16,524 27,875 31,132
Financial Services [Member]        
Financial services 16,485 14,360 51,714 37,939
Total revenues 16,485 14,360 51,714 37,939
Financial services 8,916 8,244 26,749 23,069
Total expenses 8,916 8,244 26,749 23,069
Income (loss) before income taxes 7,569 6,116 24,965 14,870
State and Local Jurisdiction [Member]        
Tax provision (benefit) 1,434 999 4,995 3,717
Domestic Tax Authority [Member]        
Tax provision (benefit) 133 (3,316) (9,592) (21,260)
Total revenues 716,850 540,613 1,947,178 1,455,276
Inventory impairment loss and land option write-offs     22,915 7,618
Corporate general and administrative 14,885 15,874 43,804 49,275
Other interest [1],[2] 23,159 22,493 68,468 70,594
Other operations 957 1,532 3,488 4,864
Total expenses 713,356 550,166 1,971,656 1,516,908
(Loss) income from unconsolidated joint ventures (2,401) (448) (5,227) 2,470
Income (loss) before income taxes 1,093 (10,001) (29,705) (59,162)
Tax provision (benefit) 1,567 (2,317) (4,597) (17,543)
Net loss $ (474) $ (7,684) $ (25,108) $ (41,619)
Loss per common share (in dollars per share) $ 0 $ (0.05) $ (0.17) $ (0.28)
Weighted-average number of common shares outstanding (in shares) 147,412 147,010 147,383 146,846
Loss per common share (in dollars per share) $ 0 $ (0.05) $ (0.17) $ (0.28)
Weighted-average number of common shares outstanding (in shares) 147,412 147,010 147,383 146,846
[1] Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows:
[2] Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt. Also includes interest on completed homes and land in planning, which does not qualify for capitalization, and therefore, is expensed.