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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Apr. 30, 2017
Apr. 30, 2016
Apr. 30, 2017
Apr. 30, 2016
Total revenues $ 585,935 $ 654,723 $ 1,137,944 $ 1,230,328
Inventory impairment loss and land option write-offs     5,137 21,350
Corporate general and administrative 16,071 12,598 31,727 28,919
Other interest [1],[2] 22,297 24,084 44,924 45,309
Other operations (95) 1,147 1,492 2,531
Total expenses 588,830 670,981 1,146,496 1,258,300
(Loss) gain on extinguishment of debt (242) 7,404
Loss from unconsolidated joint ventures (4,562) (1,346) (6,228) (2,826)
Loss before income taxes (7,699) (17,604) (7,376) (30,798)
Tax provision (benefit) (1,017) (9,143) (551) (6,164)
Net loss $ (6,682) $ (8,461) $ (6,825) $ (24,634)
Loss per common share, basic (in dollars per share) $ (0.05) $ (0.06) $ (0.05) $ (0.17)
Weighted-average number of common shares outstanding, basic (in shares) 147,558 147,334 147,556 147,301
Loss per common share, assuming dilution (in dollars per share) $ (0.05) $ (0.06) $ (0.05) $ (0.17)
Weighted-average number of common shares outstanding, assuming dilution (in shares) 147,558 147,334 147,556 147,301
State and Local Jurisdiction [Member]        
Tax provision (benefit) $ 2,292 $ (758) $ 2,274 $ 3,561
Domestic Tax Authority [Member]        
Tax provision (benefit) (3,309) (8,385) (2,825) (9,725)
Homebuilding [Member]        
Sale of homes 567,553 626,157 1,098,968 1,182,932
Land sales and other revenues 3,888 11,563 11,633 12,167
Total homebuilding 571,441 637,720 1,110,601 1,195,099
Cost of sales, excluding interest 475,440 536,050 920,467 1,000,196
Cost of sales interest 20,337 21,444 38,659 38,287
Inventory impairment loss and land option write-offs 1,953 9,669 5,137 21,350
Total cost of sales 497,730 567,163 964,263 1,059,833
Selling, general and administrative 45,467 56,371 89,875 103,875
Total homebuilding expenses 543,197 623,534 1,054,138 1,163,708
Total expenses 581,470 661,363 1,132,281 1,240,467
Financial Services [Member]        
Financial services 14,494 17,003 27,343 35,229
Financial services 7,360 9,618 14,215 17,833
Total expenses $ 7,360 $ 9,618 $ 14,215 $ 17,833
[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, which amounted to $16.0 million and $12.2 million for the three months ended April 30, 2017 and 2016, respectively, and $29.3 million and $26.7 million for the six months ended April 30, 2017 and 2016, respectively. Other interest also includes interest on completed homes, land in planning and fully developed lots without homes under construction, which does not qualify for capitalization, and therefore, is expensed. This component of other interest was $6.3 million and $11.9 million for the three months ended April 30, 2017 and 2016, respectively, and $15.6 million and $18.6 million for the six months ended April 30, 2017 and 2016, respectively.