v3.23.1
Information on Segments
 6 Months Ended
Apr. 30, 2023
Segment Reporting [Abstract]  
Information on Segments Information on Segments
We operate in the following five geographic segments, with current operations generally located in the states listed below:
Eastern Region:
•The North region: Connecticut, Delaware, Illinois, Massachusetts, Michigan, New Jersey, New York and Pennsylvania;
•The Mid-Atlantic region: Georgia, Maryland, North Carolina, Tennessee and Virginia;
•The South region: Florida, South Carolina and Texas;
Western Region:
•The Mountain region: Arizona, Colorado, Idaho, Nevada and Utah;
•The Pacific region: California, Oregon and Washington.
Our geographic reporting segments are consistent with how our chief operating decision makers are assessing operating performance and allocating capital.
At October 31, 2022, we concluded that our City Living operations were no longer a reportable operating segment, primarily due to their insignificance as a result of the change in structure and shift in strategy. Amounts reported in prior periods have been restated to conform to the fiscal 2023 presentation. The realignment did not have any impact on our consolidated financial position, results of operations, earnings per share or cash flows for the periods presented.
Revenues and income (loss) before income taxes for each of our segments, for the periods indicated, were as follows (amounts in thousands):
 Three months ended April 30,Six months ended April 30,
 2023202220232022
(restated)(restated)
Revenues:
North$381,316 $398,907 $704,110 $754,041 
Mid-Atlantic309,587 268,250 498,704 511,127 
South519,351 326,351 912,232 569,870 
Mountain674,234 653,558 1,154,446 1,115,858 
Pacific605,870 541,495 970,638 926,444 
Total home building2,490,358 2,188,561 4,240,130 3,877,340 
Corporate and other(260)(2,032)(610)(3,459)
2,490,098 2,186,529 4,239,520 3,873,881 
Land sales and other revenues16,881 91,012 47,628 194,741 
Total consolidated$2,506,979 $2,277,541 $4,287,148 $4,068,622 
Income (loss) before income taxes:
North$50,922 $50,717 $87,556 $96,384 
Mid-Atlantic64,428 43,837 87,351 77,285 
South88,721 42,974 141,167 65,551 
Mountain133,942 104,962 221,246 175,973 
Pacific157,524 116,743 236,501 179,798 
Total home building495,537 359,233 773,821 594,991 
Corporate and other(64,945)(63,418)(89,433)(98,360)
Total consolidated$430,592 $295,815 $684,388 $496,631 

“Corporate and other” is comprised principally of general corporate expenses such as our executive offices; the corporate finance, accounting, audit, tax, human resources, risk management, information technology, marketing, and legal groups; interest income; income from certain of our ancillary businesses, including our apartment rental development business and our high-rise urban luxury condominium business, and income from our Rental Property Joint Ventures and Gibraltar Joint Ventures.
Total assets for each of our segments, as of the dates indicated, are shown in the table below (amounts in thousands):
April 30,
2023		October 31,
2022
North$1,394,986 $1,464,995 
Mid-Atlantic1,143,351 1,049,043 
South2,371,522 2,137,568 
Mountain2,781,482 2,785,603 
Pacific2,240,371 2,174,065 
Total home building9,931,712 9,611,274 
Corporate and other2,057,764 2,677,440 
Total consolidated$11,989,476 $12,288,714 
“Corporate and other” is comprised principally of cash and cash equivalents, restricted cash, investments in our Rental Property Joint Ventures, expected recoveries from insurance carriers and suppliers, our Gibraltar investments and operations, manufacturing facilities, and our mortgage and title subsidiaries.
The amounts we have provided for inventory impairment charges and the expensing of costs that we believe not to be recoverable, for the periods indicated, which are included in home sales cost of revenues, were as follows (amounts in thousands):
 Three months ended April 30,Six months ended April 30,
 2023202220232022
(restated)(restated)
North$290 $443 $431 $769 
Mid-Atlantic5,080 706 6,320 1,145 
South30 466 481 609 
Mountain5,487 342 5,618 444 
Pacific182 235 6,223 1,458 
Total consolidated$11,069 $2,192 $19,073 $4,425 
We have also recognized $4.7 million of land impairment charges included in land sales and other cost of revenues during the three-month period ended April 30, 2023, of which $2.2 million and $2.5 million were in our Pacific and Corporate and other segments, respectively. In the six-month period ended April 30, 2023, we recognized $17.7 million of land impairment charges included in land sales and other cost of revenues, of which $2.7 million, $10.3 million, $2.2 million, and $2.5 million were in our North, Mid-Atlantic, Pacific and Corporate and other segments, respectively. We recognized $5.2 million of similar charges in our North segment during the three-month or six-month periods ended April 30, 2022