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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jul. 31, 2018
Jul. 31, 2017
Jul. 31, 2018
Jul. 31, 2017
Revenues $ 456,712 $ 592,035 $ 1,376,422 $ 1,729,979
Inventory impairment loss and land option write-offs     3,183 9,334
Total expenses 463,100 596,069 1,417,586 1,742,565
Corporate general and administrative 16,393 15,698 51,672 47,425
Other interest [1],[2] 24,859 23,559 80,078 68,483
Other operations 495 (26) 1,287 1,466
Loss on extinguishment of debt (4,266) (42,258) (5,706) (34,854)
Income (loss) from unconsolidated joint ventures 10,732 (3,881) 6,899 (10,109)
Income (loss) before income taxes 78 (50,173) (39,971) (57,549)
Tax provision (benefit) 1,104 287,036 1,687 286,485
Net (loss) $ (1,026) $ (337,209) $ (41,658) $ (344,034)
Net (loss) per common share (in dollars per share) $ (0.01) $ (2.28) $ (0.28) $ (2.33)
Weighted-average number of common shares outstanding, basic (in shares) 148,669 147,748 148,377 147,628
Net (loss) per common share (in dollars per share) $ (0.01) $ (2.28) $ (0.28) $ (2.33)
Weighted-average number of common shares outstanding, assuming dilution (in shares) 148,669 147,748 148,377 147,628
State and Local Jurisdiction [Member]        
Tax provision (benefit) $ 1,104 $ 8,523 $ 1,687 $ 10,797
Domestic Tax Authority [Member]        
Tax provision (benefit) 278,513 275,688
Homebuilding [Member]        
Revenues 443,703 577,042 1,339,471 1,687,643
Cost of sales, excluding interest 361,303 478,886 1,083,842 1,399,353
Cost of sales interest 13,424 19,371 45,080 58,030
Inventory impairment loss and land option write-offs 96 4,197 3,183 9,334
Total cost of sales 374,823 502,454 1,132,105 1,466,717
Selling, general and administrative 37,544 45,517 126,319 135,392
Total expenses 412,367 547,971 1,258,424 1,602,109
Homebuilding [Member] | Home Building [Member]        
Revenues 442,859 574,282 1,312,553 1,673,250
Homebuilding [Member] | Land Sales and Other Revenues [Member]        
Revenues 844 2,760 26,918 14,393
Financial Services [Member]        
Revenues 13,009 14,993 36,951 42,336
Total expenses $ 8,986 $ 8,867 $ 26,125 $ 23,082
[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: Three Months Ended July 31, Nine Months Ended July 31, (In thousands) 2018 2017 2018 2017 Other interest expensed $24,859 $23,559 $80,078 $68,483 Interest paid by our mortgage and finance subsidiaries 616 465 1,802 1,549 Decrease in accrued interest 20,672 17,528 23,974 18,882 Cash paid for interest, net of capitalized interest $46,147 $41,552 $105,854 $88,914
[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 $20.2 million and $17.2 million for the three months ended July 31, 2018 and 2017, respectively, and $59.7 million and $46.5 million for the nine months ended July 31, 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 $4.6 million and $6.4 million for the three months ended July 31, 2018 and 2017, respectively, and $20.4 million and $22.0 million for the nine months ended July 31, 2018 and 2017, respectively.