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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jan. 31, 2022
Jan. 31, 2021
Cash flows from operating activities:    
Net income $ 24,808 $ 18,959
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 1,175 1,338
Compensation from stock options and awards 1,635 902
Amortization of bond discounts, premiums and deferred financing costs (280) 209
Gain on sale and retirement of property and assets (5) (14)
Income from unconsolidated joint ventures (8,191) (1,916)
Distributions of earnings from unconsolidated joint venture 2,100 2,841
Noncontrolling interest in consolidated joint ventures 62 78
Inventory impairment and land option write-offs 99 1,877
(Increase) decrease in assets:    
Origination of mortgage loans (272,877) (334,272)
Sale of mortgage loans 342,090 312,794
Receivables, prepaids, deposits and other assets (2,139) (9,531)
Inventories (159,227) (87,251)
Deferred tax assets 9,465 0
Increase (decrease) in liabilities:    
State income tax payable 1,122 557
Customers’ deposits 14,924 8,975
Accounts payable, accrued interest and other accrued liabilities (70,490) (9,605)
Net cash used in operating activities (115,729) (94,059)
Cash flows from investing activities:    
Proceeds from sale of property and assets 5 16
Purchase of property, equipment, and other fixed assets and acquisitions (2,453) (964)
Investment in and advances to unconsolidated joint ventures (1,033) (3,214)
Distributions of capital from unconsolidated joint ventures 554 12,035
Net cash (used in) provided by investing activities (2,927) 7,873
Cash flows from financing activities:    
Proceeds from mortgages and notes 136,021 64,257
Payments related to mortgages and notes (63,892) (72,235)
Proceeds from model sale leaseback financing programs 8,737 1,360
Payments related to model sale leaseback financing programs (3,553) (3,583)
Proceeds from land bank financing programs 21,425 15,025
Payments related to land bank financing programs (13,642) (24,726)
Payments for partner distributions to consolidated joint venture (150) 0
Preferred dividends paid (2,669) 0
Deferred financing costs from land banking financing programs and note issuances (1,848) (590)
Net cash provided by financing activities 17,118 3,433
Net decrease in cash and cash equivalents, and restricted cash and cash equivalents (101,538) (82,753)
Cash and cash equivalents, and restricted cash and cash equivalents balance, beginning of period 311,396 309,460
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 209,858 226,707
Supplemental disclosures of cash flows:    
Interest, net of capitalized interest (see Note 3 to the Condensed Consolidated Financial Statements) (5,254) 9,922
Income taxes 7 69
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 209,858 226,707
Homebuilding [Member]    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Inventory impairment and land option write-offs 99 1,877
Supplemental disclosures of cash flows:    
Cash and cash equivalents 137,898 172,098
Restricted cash and cash equivalents 14,260 12,628
Financial Services [Member]    
Supplemental disclosures of cash flows:    
Cash and cash equivalents 6,846 4,531
Restricted cash and cash equivalents 50,854 37,450
Mortgage Warehouse Lines of Credit [Member]    
Cash flows from financing activities:    
Net (payments) proceeds related to mortgage warehouse lines of credit $ (63,311) $ 23,925