XML 73 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Oct. 31, 2012
Oct. 31, 2011
Oct. 31, 2010
Cash flow (used in) provided by operating activities:      
Net income (loss) $ 487,146 $ 39,795 $ (3,374)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:      
Depreciation and amortization 22,586 23,142 20,044
Stock-based compensation 15,575 12,494 11,677
(Recovery) impairment of investment in unconsolidated entities (2,311) 40,870 0
Excess tax benefits from stock-based compensation (5,776)    (4,954)
Income from unconsolidated entities (21,281) (39,676) (23,470)
Distributions of earnings from unconsolidated entities 5,258 12,081 10,297
Income from non-performing loan portfolios and foreclosed real estate (12,444) (5,113)   
Deferred tax benefit 41,810 (18,188) 60,697
Deferred tax valuation allowances (394,718) 18,188 (60,697)
Inventory impairments and write-offs 14,739 51,837 115,258
Change in fair value of mortgage loans receivable and derivative instruments (670) 475 (970)
Gain on marketable securities (40)      
Expenses related to early retirement of debt    3,827 1,208
Changes in operating assets and liabilities      
Increase in inventory (195,948) (215,738) (140,344)
Origination of mortgage loans (651,618) (630,294) (628,154)
Sale of mortgage loans 629,397 659,610 579,221
(Increase) decrease in restricted cash (27,516) 41,146 (60,906)
(Increase) decrease in receivables, prepaid expenses and other assets (33,922) (11,522) (3,115)
Increase in customer deposits 44,383 13,175 (15,182)
Decrease in accounts payable and accrued expenses (58,537) (28,624) (38,598)
Decrease in income tax refund recoverable 0 141,590 20,250
Decrease in income taxes payable (25,075) (56,225) 14,828
Net cash (used in) provided by operating activities (168,962) 52,850 (146,284)
Cash flow used in investing activities:      
Purchase of property and equipment - net (14,495) (9,553) (4,830)
Purchase of marketable securities (579,958) (452,864) (157,962)
Sale and redemption of marketable securities 368,253 408,831 60,000
Investment in and advances to unconsolidated entities (217,160) (132) (58,286)
Return of investments in unconsolidated entities 38,368 43,309 9,696
Investment in non-performing loan portfolios and foreclosed real estate (30,090) (66,867)   
Return of investments in non-performing loan portfolios and foreclosed real estate 16,707 2,806   
Acquisition of a business (144,746)      
Net cash used in investing activities (563,121) (74,470) (151,382)
Cash flow provided by (used in) financing activities:      
Net proceeds from issuance of senior notes 578,696      
Proceeds from loans payable 1,002,934 921,251 927,233
Principal payments of loans payable (1,016,081) (952,621) (1,316,514)
Redemption of senior notes       (47,872)
Redemption of senior notes    (58,837) (46,114)
Proceeds from stock-based benefit plans 33,747 25,531 7,589
Excess tax benefits from stock-based compensation 5,776    4,954
Purchase of treasury stock (505) (49,102) (588)
Change in noncontrolling interest    2,678 320
Net cash provided by (used in) financing activities 604,567 (111,100) (470,992)
Net decrease in cash and cash equivalents (127,516) (132,720) (768,658)
Cash and cash equivalents, beginning of period 906,340 1,039,060 1,807,718
Cash and cash equivalents, end of period $ 778,824 $ 906,340 $ 1,039,060