Fair Value Disclosures (Tables)

12 Months Ended

Oct. 31, 2011

Fair Value Disclosures (Tables) [Abstract]

Summary of assets and (liabilities), measured at fair value on a recurring basis


		Fair value
	Fair value	October 31,			October 31,
Financial Instrument	hierarchy	2011			2010
Corporate Securities	Level 1	$	233,572
U.S. Treasury Securities	Level 1				$	175,370
U.S. Agency Securities	Level 1				$	22,497
Residential Mortgage Loans Held for Sale	Level 2	$	63,175		$	93,644
Forward Loan Commitments — Residential Mortgage Loans Held for Sale	Level 2	$	218		$	(459	)
Interest Rate Lock Commitments (“IRLCs”)	Level 2	$	(147	)	$	130
Forward Loan Commitments — IRLCs	Level 2	$	147		$	(130	)

Aggregate unpaid principal and fair value of mortgage loans held for sale


	Aggregate unpaid
	principal balance		Fair value		Excess
At October 31, 2011	$	62,765	$	63,175	$	410
At October 31, 2010	$	92,082	$	93,644	$	1,562

Summary of amortized cost gross unrealized holding gains and losses


	October 31,			October 31,
	2011			2010
Amortized cost	$	233,852		$	197,699
Gross unrealized holding gains		28			180
Gross unrealized holding losses		(308	)		(12	)

Fair value	$	233,572		$	197,867

Fair value of inventory adjusted for impairment


	Fair value of
	communities, net
	of impairment		Impairment
Three months ended:	charges		charges
Fiscal 2011:
January 31	$	56,105	$	5,475
April 30	$	40,765		10,725
July 31	$	4,769		16,175
October 31	$	5,718		1,710

			$	34,085

Fiscal 2010:
January 31	$	82,509	$	31,750
April 30	$	64,964		41,770
July 31	$	40,071		12,450
October 31	$	67,850		23,219

			$	109,189

Book value and estimated fair value of the Company's debt


	October 31, 2011				October 31, 2010
			Estimated				Estimated
	Book value		fair value		Book value		fair value
Loans payable (a)	$	106,556	$	98,950	$	94,491	$	87,751
Senior notes (b)		1,499,371		1,614,010		1,554,460		1,679,052
Mortgage company warehouse loan (c)		57,409		57,409		72,367		72,367

	$	1,663,336	$	1,770,369	$	1,721,318	$	1,839,170


(a)		The estimated fair value of loans payable was based upon their indicated market prices or the interest rates that the Company believed were available to it for loans with similar terms and remaining maturities as of the applicable valuation date.

(b)		The estimated fair value of the Company’s senior notes is based upon their indicated market prices.

(c)		The Company believes that the carrying value of its mortgage company loan borrowings approximates their fair value.

- Definition

This item represents the entire disclosure related to Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale.

+ References+ Details

- Definition

This item represents certain of the disclosures concerning the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References+ Details