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Stockholders' Equity
 6 Months Ended
Apr. 30, 2024
Stock Repurchase Program [Abstract]  
Stockholders’ Equity Stockholders’ Equity
Stock Repurchase Program
From time to time since fiscal 2017, our Board of Directors has renewed its authorization to repurchase up to 20 million shares of our common stock in open market transactions, privately negotiated transactions (including accelerated share repurchases), issuer tender offers or other financial arrangements or transactions. On December 13, 2023, our Board of Directors renewed its authorization to repurchase 20 million shares of our common stock. Shares may be repurchased for general corporate purposes, including to obtain shares for the Company’s equity awards and other employee benefit plans. This authorization terminated, effective December 13, 2023, the existing authorization that had been in effect since May 17, 2022. The Board of Directors did not fix any expiration date for this repurchase program.
The table below provides, for the periods indicated, information about our share repurchase programs:
 Three months ended April 30,Six months ended April 30,
 2024202320242023
Number of shares purchased (in thousands)1,502 1,443 1,503 1,630 
Average price per share (1)
$120.60 $58.14 $120.59 $57.20 
Remaining authorization at April 30 (in thousands)18,498 12,947 18,498 12,947 
(1)    Average price per share includes costs associated with the purchases, including the excise tax accrued on our share repurchases as a result of the Inflation Reduction Act of 2022, as applicable.
Cash Dividends
On March 12, 2024, our Board of Directors approved an increase in our quarterly cash dividend from $0.21 per share to $0.23 per share. During the three month periods ended April 30, 2024 and 2023, we declared and paid cash dividends of $0.23 and $0.21 per share, respectively, to our shareholders. During the six months ended April 30, 2024 and 2023, we declared and paid cash dividends of $0.44 and $0.41 per share, respectively, to our shareholders.
Accumulated Other Comprehensive Income
The changes in each component of accumulated other comprehensive income (“AOCI”), for the periods indicated, were as follows (amounts in thousands):
Three months ended April 30,Six months ended April 30,
2024202320242023
Employee Retirement Plans
Beginning balance$2,996 $2,492 $3,080 $2,475 
(Gains) losses reclassified from AOCI to net income (1)
(114)24 (227)47 
Less: Tax expense (benefit) (2)
29 (6)58 (12)
Net (gains) losses reclassified from AOCI to net income(85)18 (169)35 
Other comprehensive (loss) income – net of tax(85)18 (169)35 
Ending balance$2,911 $2,510 $2,911 $2,510 
Derivative Instruments
Beginning balance$34,016 $31,662 $37,830 $35,143 
Gains (losses) on derivative instruments6,378 588 2,810 (3,709)
Less: Tax (expense) benefit(1,964)(138)(1,059)948 
Net gains (losses) on derivative instruments4,414 450 1,751 (2,761)
Gains reclassified from AOCI to net income (3)
(2,496)(1,000)(4,039)(1,362)
Less: Tax expense (2)
982 253 1,374 345 
Net gains reclassified from AOCI to net income(1,514)(747)(2,665)(1,017)
Other comprehensive income (loss) – net of tax2,900 (297)(914)(3,778)
Ending balance$36,916 $31,365 $36,916 $31,365 
Total AOCI ending balance$39,827 $33,875 $39,827 $33,875 
(1) Reclassified to “Other income – net”
(2) Reclassified to “Income tax provision”
(3) Reclassified to “Cost of revenues – home sales”