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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Apr. 30, 2018
Apr. 30, 2017
Apr. 30, 2018
Apr. 30, 2017
Revenues $ 502,544 $ 585,935 $ 919,710 $ 1,137,944
Inventory impairment loss and land option write-offs     3,087 5,137
Total expenses 512,025 588,830 954,486 1,146,496
Corporate general and administrative 16,144 16,071 35,279 31,727
Other interest [1],[2] 26,088 22,297 55,219 44,924
Other operations 402 (95) 792 1,492
(Loss) gain on extinguishment of debt (1,440) (242) (1,440) 7,404
Income (loss) from unconsolidated joint ventures 1,343 (4,562) (3,833) (6,228)
Loss before income taxes (9,578) (7,699) (40,049) (7,376)
Tax provision (benefit) 245 (1,017) 583 (551)
Net (loss) $ (9,823) $ (6,682) $ (40,632) $ (6,825)
Net (loss) per common share, basic (in dollars per share) $ (0.07) $ (0.05) $ (0.27) $ (0.05)
Weighted-average number of common shares outstanding, basic (in shares) 148,435 147,558 148,228 147,556
Net (loss) per common share, assuming dilution (in dollars per share) $ (0.07) $ (0.05) $ (0.27) $ (0.05)
Weighted-average number of common shares outstanding, assuming dilution (in shares) 148,435 147,558 148,228 147,556
State and Local Jurisdiction [Member]        
Tax provision (benefit) $ 245 $ 2,292 $ 583 $ 2,274
Domestic Tax Authority [Member]        
Tax provision (benefit) (3,309) (2,825)
Homebuilding [Member]        
Revenues 489,490 571,441 895,768 1,110,601
Cost of sales, excluding interest 393,012 475,440 722,539 920,467
Cost of sales interest 19,364 20,337 31,656 38,659
Inventory impairment loss and land option write-offs 2,673 1,953 3,087 5,137
Total cost of sales 415,049 497,730 757,282 964,263
Selling, general and administrative 45,544 45,467 88,775 89,875
Total expenses 460,593 543,197 846,057 1,054,138
Homebuilding [Member] | Home Building [Member]        
Revenues 468,117 567,553 869,694 1,098,968
Homebuilding [Member] | Land Sales and Other Revenues [Member]        
Revenues 21,373 3,888 26,074 11,633
Financial Services [Member]        
Revenues 13,054 14,494 23,942 27,343
Total expenses $ 8,798 $ 7,360 $ 17,139 $ 14,215
[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: 8 Table of Contents Three Months Ended April 30, Six Months Ended April 30, (In thousands) 2018 2017 2018 2017 Other interest expensed $ 26,088 $ 22,297 $ 55,219 $ 44,924 Interest paid by our mortgage and finance subsidiaries 585 455 1,186 1,084 (Increase) decrease in accrued interest (23,448 ) 591 3,302 1,354 Cash paid for interest, net of capitalized interest $ 3,225 $ 23,343 $ 59,707 $ 47,362
[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 $19.9 million and $16.0 million for the three months ended April 30, 2018 and 2017, respectively, and $39.5 million and $29.3 million for the six months ended April 30, 2018 and 2017, 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 $6.2 million and $6.3 million for the three months ended April 30, 2018 and 2017, respectively, and $15.8 million and $15.6 million for the six months ended April 30, 2018 and 2017, respectively.