v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Apr. 30, 2026
Apr. 30, 2025
Cash flow provided by (used in) operating activities:    
Net income $ 471,523 $ 530,150
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 33,495 37,940
Stock-based compensation 23,328 22,795
Income from unconsolidated entities (18,724) (2,746)
Distributions of earnings from unconsolidated entities 11,634 9,041
Deferred tax provision 5,188 5,001
Impairment charges and write-offs 47,843 32,462
Other - net 356 648
Changes in operating assets and liabilities:    
Inventory (571,899) (900,631)
Origination of mortgage loans (1,183,985) (1,112,249)
Sale of mortgage loans 1,243,631 1,110,378
Receivables, prepaid expenses, and other assets, including rental and commercial properties 250,359 4,670
Current income taxes – net (9,860) 42,631
Customer deposits – net 34,487 22,880
Accounts payable and accrued expenses (195,658) 139,101
Net cash provided by (used in) operating activities 141,718 (57,929)
Cash flow provided by (used in) investing activities:    
Purchase of property, construction, and office equipment – net (43,330) (32,916)
Investments in unconsolidated entities (105,574) (179,890)
Return of investments in unconsolidated entities 88,358 28,179
Proceeds from the sale of ownership interests in unconsolidated entities 204,295 0
Other – net (945) (3,130)
Net cash provided by (used in) investing activities 142,804 (187,757)
Cash flow used in financing activities:    
Proceeds from loans payable 1,207,447 2,107,956
Debt issuance costs (6,298) (7,996)
Principal payments of loans payable (1,366,084) (2,174,265)
Proceeds related to sales to land bank programs 19,797 22,071
Payments related to repurchases from land bank programs (10,206) (35,034)
Payments related to stock-based benefit plans – net (12,133) (22,241)
Purchase of treasury stock and excise tax payment (230,028) (204,905)
Dividends paid (49,425) (49,046)
(Payments) receipts related to noncontrolling interest – net (4,431) 386
Net cash used in financing activities (451,361) (363,074)
Net decrease in cash, cash equivalents, and restricted cash (166,839) (608,760)
Cash, cash equivalents, and restricted cash, beginning of period 1,338,938 1,370,435
Cash, cash equivalents, and restricted cash, end of period $ 1,172,099 $ 761,675