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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Jan. 31, 2020
Jan. 31, 2019
Revenues $ 494,056 $ 380,594
Inventory impairment loss and land option write-offs 2,828 704
Total expenses 512,488 407,262
Corporate general and administrative 19,744 17,664
Other interest expensed [1],[2] 25,003 22,273
Other operations 194 242
Gain on extinguishment of debt 9,456
Income from unconsolidated joint ventures 1,540 9,562
(Loss) before income taxes (7,436) (17,106)
Tax provision (benefit) 1,712 346
Net (loss) $ (9,148) $ (17,452)
Net (loss) per common share (in dollars per share) $ (1.49) $ (2.93)
Weighted-average number of common shares outstanding (in shares) 6,161 5,958
State and Local Jurisdiction [Member]    
Tax provision (benefit) $ 1,712 $ 346
Domestic Tax Authority [Member]    
Tax provision (benefit)
Homebuilding [Member]    
Revenues 480,042 370,986
Cost of sales, excluding interest 396,355 304,927
Cost of sales interest 18,136 10,242
Inventory impairment loss and land option write-offs 2,828 704
Total cost of sales 417,319 315,873
Selling, general and administrative 40,674 42,736
Total expenses 457,993 358,609
Homebuilding [Member] | Home Building [Member]    
Revenues 479,233 362,135
Homebuilding [Member] | Land Sales and Other Revenues [Member]    
Revenues 809 8,851
Financial Services [Member]    
Revenues 14,014 9,608
Total expenses $ 9,554 $ 8,474
[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 January 31, (In thousands) 2020 2019 Other interest expensed $25,003 $22,273 Interest paid by our mortgage and finance subsidiaries 770 689 (Increase) decrease in accrued interest (11,818 ) 17,477 Cash paid for interest, net of capitalized interest $13,955 $40,439
[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 $14.9 million and $17.6 million for the three months ended January 31, 2020 and 2019, 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 $10.1 million and $4.7 million for the three months ended January 31, 2020 and 2019, respectively.