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Information on Operating Segments
3 Months Ended
Jan. 31, 2015
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
Information on Operating Segments
We operate in two segments: traditional home building and urban infill. We build and sell homes in traditional home building markets consisting of detached and attached homes in luxury residential communities located in affluent suburban markets which cater to move-up, empty-nester, active-adult, age-qualified, and second-home buyers in the United States (“Traditional Home Building”). We also build and sell homes in urban infill markets through Toll Brothers City Living® (“City Living”).
We have determined that our Traditional Home Building operations operate in four geographic segments: North, Mid-Atlantic, South, and West. The states comprising each geographic segment are as follows:
North:    Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey, and New York
Mid-Atlantic:    Delaware, Maryland, Pennsylvania, and Virginia
South:    Florida, North Carolina, and Texas
West:    Arizona, California, Colorado, Nevada, and Washington
Revenue and income (loss) before income taxes for each of our reportable and geographic segments, for the periods indicated, were as follows (amounts in thousands): 
 
Three months ended January 31,
 
2015
 
2014
Revenues:
 
 
 
Traditional Home Building:
 
 
 
North
$
132,436

 
$
127,644

Mid-Atlantic
163,388

 
169,096

South
161,867

 
150,559

West
287,942

 
186,226

Traditional Home Building
745,633

 
633,525

City Living
107,819

 
10,156

Total
$
853,452

 
$
643,681

 
 
 
 
Income (loss) before income taxes:
 
 
 
Traditional Home Building:
 
 
 
North
$
10,567

 
$
8,346

Mid-Atlantic
18,724

 
21,551

South
23,324

 
17,368

West
45,359

 
34,668

Traditional Home Building
97,974

 
81,933

City Living
51,345

 
(1,058
)
Corporate and other
(25,296
)
 
(9,640
)
Total
$
124,023

 
$
71,235


“Corporate and other” is comprised principally of general corporate expenses such as the offices of our executive officers and the corporate finance, accounting, audit, tax, human resources, risk management, information technology, marketing, and legal groups; interest income and income from certain of our ancillary businesses, including Gibraltar; and income from a number of our unconsolidated entities.
Total assets for each of our reportable and geographic segments, as of the dates indicated, are shown in the table below (amounts in thousands). 
 
January 31,
2015
 
October 31,
2014
Traditional Home Building:
 
 
 
North
$
1,075,858

 
$
1,053,787

Mid-Atlantic
1,281,066

 
1,267,563

South
1,208,771

 
1,165,600

West
2,729,539

 
2,676,164

Traditional Home Building
6,295,234

 
6,163,114

City Living
866,462

 
834,949

Corporate and other
1,259,923

 
1,418,839

Total
$
8,421,619

 
$
8,416,902


“Corporate and other” is comprised principally of cash and cash equivalents, marketable securities, restricted cash, deferred tax assets, the assets of our Gibraltar investments, manufacturing facilities, and our mortgage subsidiary.
Inventory for each of our reportable and geographic segments, as of the dates indicated, is shown in the table below (amounts in thousands):
 
Land controlled for future communities
 
Land owned for future communities
 
Operating communities
 
Total
Balances at January 31, 2015:
 
 
 
 
 
 
 
Traditional Home Building:
 
 
 
 
 
 
 
North
$
10,388

 
$
180,634

 
$
864,404

 
$
1,055,426

Mid-Atlantic
31,206

 
213,218

 
1,004,616

 
1,249,040

South
9,032

 
211,894

 
853,102

 
1,074,028

West
15,521

 
1,400,454

 
1,225,709

 
2,641,684

Traditional Home Building
66,147

 
2,006,200

 
3,947,831

 
6,020,178

City Living
8,867

 
413,752

 
184,684

 
607,303

 
$
75,014

 
$
2,419,952

 
$
4,132,515

 
$
6,627,481

 
 
 
 
 
 
 
 
Balances at October 31, 2014:
 
 
 
 
 
 
 
Traditional Home Building:
 
 
 
 
 
 
 
North
$
12,007

 
$
171,780

 
$
834,266

 
$
1,018,053

Mid-Atlantic
29,169

 
209,506

 
994,859

 
1,233,534

South
10,971

 
219,904

 
793,835

 
1,024,710

West
22,122

 
1,391,028

 
1,177,820

 
2,590,970

Traditional Home Building
74,269

 
1,992,218

 
3,800,780

 
5,867,267

City Living
48,264

 
363,656

 
211,134

 
623,054

 
$
122,533

 
$
2,355,874

 
$
4,011,914

 
$
6,490,321


Investments in and advances to unconsolidated entities for each of our reportable and geographic segments, as of the dates indicated, are shown in the table below (amounts in thousands):
 
 
January 31,
2015
 
October 31,
2014
Traditional Home Building:
 
 
 
 
Mid-Atlantic
 
$
11,841

 
$
11,841

South
 
98,828

 
98,362

West
 
58,380

 
59,573

Traditional Home Building
 
169,049

 
169,776

City Living
 
178,223

 
159,953

Corporate and other
 
116,306

 
117,349

Total
 
$
463,578

 
$
447,078


“Corporate and other” is comprised of our investments in the Rental Property Joint Ventures, the Trust and Trust II, and the Structured Asset Joint Venture. In the first quarter of fiscal 2015, a Rental Property Joint Venture that was previously included in the Mid-Atlantic geographic segment was reclassified to “Corporate and other.” Our investment balance in this joint venture at October 31, 2014 of $12.4 million was reclassified in the table above to conform to the fiscal 2015 presentation.