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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Cash flows from operating activities:    
Net income $ 74,740 $ 52,862
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,612 5,924
Stock-based compensation 11,018 4,235
Amortization of debt discounts, premiums and deferred financing costs 570 722
(Gain) loss on sale of property and assets (958) 15
Income from unconsolidated joint ventures (26,116) (12,568)
Distributions of earnings from unconsolidated joint ventures 1,688 4,522
Gain on extinguishment of debt (1,371) 0
Noncontrolling interest in consolidated joint ventures 0 11
Inventory impairments and land option write-offs 539 614
(Increase) decrease in assets:    
Inventories (68,411) 48,453
Receivables, deposits and notes (1,920) 4,516
Origination of mortgage loans (681,335) (516,798)
Sale of mortgage loans 714,495 548,722
Deferred tax assets 23,129 8,101
(Decrease) increase in liabilities:    
Accounts payable, accrued interest and other liabilities (41,694) (77,536)
Customers’ deposits (5,800) (2,661)
State income tax payable (2,087) (3,167)
Net cash provided by operating activities 99 65,967
Cash flows from investing activities:    
Proceeds from sale of property and assets 1,000 93
Purchase of property, equipment, and other fixed assets (9,883) (8,169)
Investment in and advances to unconsolidated joint ventures, net of reimbursements (32,480) (20,042)
Distributions of capital from unconsolidated joint ventures 4,163 7,663
Net cash used in investing activities (37,200) (20,455)
Cash flows from financing activities:    
Proceeds from mortgages and notes 151,283 152,519
Payments related to mortgages and notes (157,996) (163,190)
Proceeds from model sale leaseback financing programs 0 11,830
Payments related to model sale leaseback financing programs (12,111) (5,587)
Proceeds from land bank financing programs 25,854 30,335
Payments related to land bank financing programs (51,813) (39,063)
Net payments related to mortgage warehouse lines of credit (29,103) (31,879)
Payments related to senior secured notes (113,502) 0
Preferred dividends paid (5,338) (5,338)
Treasury stock purchases (15,147) (4,800)
Deferred financing costs from land banking financing programs and note issuances (1,624) (1,815)
Net cash used in financing activities (209,497) (56,988)
Net decrease in cash and cash equivalents, and restricted cash and cash equivalents (246,598) (11,476)
Cash and cash equivalents, and restricted cash and cash equivalents balance, beginning of period 477,519 382,190
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 230,921 370,714
Supplemental disclosures of cash flows:    
Interest, net of capitalized interest 30,302 27,098
Income taxes 6,173 6,888
Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period 230,921 370,714
Home Building [Member]    
Supplemental disclosures of cash flows:    
Cash and cash equivalents 181,966 333,254
Restricted cash and cash equivalents 8,370 7,916
Financial Services [Member]    
Supplemental disclosures of cash flows:    
Cash and cash equivalents 4,729 3,790
Restricted cash and cash equivalents $ 35,856 $ 25,754