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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jul. 31, 2019
Jul. 31, 2018
Jul. 31, 2019
Jul. 31, 2018
Revenues $ 482,041 $ 456,712 $ 1,303,326 $ 1,376,422
Inventory impairment loss and land option write-offs     3,601 3,183
Total expenses 492,847 463,100 1,362,964 1,417,586
Corporate general and administrative 14,959 16,393 48,792 51,672
Other interest [1],[2] 22,377 24,859 67,313 80,078
Other operations 622 495 1,193 1,287
Loss on extinguishment of debt (4,266) (5,706)
Income from unconsolidated joint ventures 3,742 10,732 20,556 6,899
(Loss) income before income taxes (7,064) 78 (39,082) (39,971)
Tax provision (benefit) 537 1,104 1,228 1,687
Net (loss) $ (7,601) $ (1,026) $ (40,310) $ (41,658)
Net (loss) per common share (in dollars per share) $ (1.27) $ (0.18) $ (6.76) $ (7.03)
Weighted-average number of common shares outstanding, basic (in shares) 5,971 5,947 5,964 5,935
State and Local Jurisdiction [Member]        
Tax provision (benefit) $ 537 $ 1,104 $ 1,228 $ 1,687
Domestic Tax Authority [Member]        
Tax provision (benefit)
Homebuilding [Member]        
Revenues 469,277 443,703 1,268,647 1,339,471
Cost of sales, excluding interest 381,939 361,303 1,042,343 1,083,842
Cost of sales interest 19,029 13,424 43,169 45,080
Inventory impairment loss and land option write-offs 1,435 96 3,601 3,183
Total cost of sales 402,403 374,823 1,089,113 1,132,105
Selling, general and administrative 43,559 37,544 130,474 126,319
Total expenses 445,962 412,367 1,219,587 1,258,424
Homebuilding [Member] | Home Building [Member]        
Revenues 467,849 442,859 1,257,536 1,312,553
Homebuilding [Member] | Land Sales and Other Revenues [Member]        
Revenues 1,428 844 11,111 26,918
Financial Services [Member]        
Revenues 12,764 13,009 34,679 36,951
Total expenses $ 8,927 $ 8,986 $ 26,079 $ 26,125
[1] Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows: Three Months Ended July 31, Nine Months Ended July 31, (In thousands) 2019 2018 2019 2018 Other interest expensed $22,377 $24,859 $67,313 $80,078 Interest paid by our mortgage and finance subsidiaries 673 616 1,876 1,802 Decrease in accrued interest 15,404 20,672 13,105 23,974 Cash paid for interest, net of capitalized interest $38,454 $46,147 $82,294 $105,854
[2] Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt, which amounted to $13.7 million and $20.2 million for the three months ended July 31, 2019 and 2018, respectively, and $46.4 million and $59.7 million for the nine months ended July 31, 2019 and 2018, respectively. Other interest also includes interest on completed homes, land in planning and fully developed lots without homes under construction, which does not qualify for capitalization, and therefore, is expensed. This component of other interest was $8.7 million and $4.6 million for the three months ended July 31, 2019 and 2018, respectively, and $21.0 million and $20.4 million for the nine months ended July 31, 2019 and 2018, respectively.