v3.23.1
Stockholders' Equity
 6 Months Ended
Apr. 30, 2023
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. Most recently, on May 17, 2022, 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. 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,
 2023202220232022
Number of shares purchased (in thousands)1,443 2,205 1,630 5,219 
Average price per share$58.14 $48.30 $57.20 $56.01 
Remaining authorization at April 30 (in thousands)12,947 7,344 12,947 7,344 
Cash Dividends
On March 9, 2023, our Board of Directors approved an increase in our quarterly cash dividend from $0.20 per share to $0.21 per share, which was previously increased from $0.17 to $0.20 in March 2022. During the three month periods ended April 30, 2023 and 2022, we declared and paid cash dividends of $0.21 and $0.20 per share, respectively, to our shareholders. During the six months ended April 30, 2023 and 2022, we declared and paid cash dividends of $0.41 and $0.37 per share, respectively, to our shareholders.
Accumulated Other Comprehensive Income (Loss)
The changes in each component of accumulated other comprehensive income (loss) (“AOCI”), for the periods indicated, were as follows (amounts in thousands):
Three months ended April 30,Six months ended April 30,
2023202220232022
Employee Retirement Plans
Beginning balance$2,492 $(5,685)$2,475 $(6,024)
Losses reclassified from AOCI to net income (1)
24 451 47 903 
Less: Tax benefit (2)
(6)(113)(12)(226)
Net losses reclassified from AOCI to net income18 338 35 677 
Other comprehensive loss – net of tax18 338 35 677 
Ending balance$2,510 $(5,347)$2,510 $(5,347)
Derivative Instruments
Beginning balance$31,662 $11,496 $35,143 $7,133 
Gains (losses) on derivative instruments588 17,616 (3,709)23,363 
Less: Tax (expense) benefit(138)(4,425)948 (5,866)
Net gains (losses) on derivative instruments450 13,191 (2,761)17,497 
(Gains) losses reclassified from AOCI to net income (3)
(1,000)106 (1,362)182 
Less: Tax expense (benefit) (2)
253 (27)345 (46)
Net (gains) losses reclassified from AOCI to net income(747)79 (1,017)136 
Other comprehensive (income) loss – net of tax(297)13,270 (3,778)17,633 
Ending balance$31,365 $24,766 $31,365 $24,766 
Total AOCI ending balance$33,875 $19,419 $33,875 $19,419 
(1) Reclassified to “Other income – net”
(2) Reclassified to “Income tax provision”
(3) Reclassified to “Cost of revenues – home sales”