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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Oct. 31, 2025
Oct. 31, 2024
Oct. 31, 2023
Revenues $ 2,978,581 $ 3,004,918 $ 2,756,016
Inventory impairments and land option write-offs 39,571 11,556 1,536
Corporate general and administrative 137,476 139,740 103,196
Other interest [1] 35,441 30,752 54,082
Other (income) expenses, net [2] (37,371) (46,203) (17,148)
Total expenses 2,905,818 2,741,462 2,517,587
(Loss) gain on extinguishment of debt, net (33,113) 1,371 (25,638)
Income from unconsolidated joint ventures 46,437 52,262 43,160
Income before income taxes 86,087 317,089 255,951
Total income taxes 22,222 75,081 50,060
Net income 63,865 242,008 205,891
Less: preferred stock dividends 10,675 10,675 10,675
Net income available to common stockholders $ 53,190 $ 231,333 $ 195,216
Net income per common share (in dollars per share) $ 7.95 $ 34.4 $ 28.76
Weighted-average number of common shares outstanding basic (in shares) 6,449 6,479 6,230
Net income per common share (in dollars per share) $ 7.43 $ 31.79 $ 26.88
Weighted-average number of common shares outstanding (in shares) 6,892 7,007 6,666
State and Local Jurisdiction [Member]      
Total income taxes $ 12,521 $ 10,851 $ 3,239
Domestic Tax Authority [Member]      
Total income taxes 9,701 64,230 46,821
Home Building [Member]      
Revenues 2,883,606 2,930,854 2,695,928
Cost of sales, excluding interest 2,371,363 2,263,384 2,052,800
Cost of sales interest 90,975 89,807 80,820
Inventory impairments and land option write-offs 39,571 11,556 1,536
Total cost of sales 2,501,909 2,364,747 2,135,156
Selling, general and administrative 212,362 202,486 201,578
Total expenses excluding Corporate general and administrative, Other interest and Other expenses, net 2,714,271 2,567,233 2,336,734
Home Building [Member] | Sale of homes [Member]      
Revenues 2,852,908 2,875,488 2,630,457
Home Building [Member] | Land Sales and Other Revenues [Member]      
Revenues 30,698 55,366 65,471
Financial Services [Member]      
Revenues 94,975 74,064 60,088
Total expenses excluding Corporate general and administrative, Other interest and Other expenses, net $ 56,001 $ 49,940 $ 40,723
[1] Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) did not exceed our debt, which amounted to $17.7 million for the year ended October 31, 2023. During the years ended October 31, 2025 and 2024, our inventory under development exceeded our debt, therefore, all of the related interest incurred qualified for interest capitalization. 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 as incurred. This component of other interest was $35.4 million, $30.8 million and $36.4 million for the years ended October 31, 2025, 2024 and 2023, respectively.
[2] Includes gain on consolidation of a joint venture of $18.9 million, $45.7 million and $19.1 million for the years ended October 31, 2025, 2024 and 2023, respectively (see Note 20).