XML 109 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Oct. 31, 2013
Oct. 31, 2012
Oct. 31, 2011
Cash flow (used in) provided by operating activities:      
Net income $ 170,606 $ 487,146 $ 39,795
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:      
Depreciation and amortization 25,210 22,586 23,142
Stock-based compensation 19,041 15,575 12,494
Excess tax benefits from stock-based compensation (24,417) (5,776)   
(Recovery) impairment of investment in unconsolidated entities 0 (2,311) 40,870
Income from unconsolidated entities (14,392) (21,281) (39,676)
Distributions of earnings from unconsolidated entities 23,468 5,258 12,081
Income from non-performing loan portfolios and foreclosed real estate (16,312) (12,444) (5,113)
Deferred tax benefit (provision) 75,219 41,810 (18,188)
Deferred tax valuation allowances (1,337) (394,718) 18,188
Inventory impairments and write-offs 4,523 14,739 51,837
Change in fair value of mortgage loans receivable and derivative instruments 174 (670) 475
Gain on marketable securities (57) (40)   
Expenses related to early retirement of debt       3,827
Changes in operating assets and liabilities      
Increase in inventory (941,314) (195,948) (215,738)
Origination of mortgage loans (743,497) (651,618) (630,294)
Sale of mortgage loans 716,586 629,397 659,610
(Increase) decrease in restricted cash 15,240 (27,516) 41,146
(Increase) decrease in receivables, prepaid expenses and other assets (51,794) (36,497) (5,619)
Increase in customer deposits 52,383 44,383 13,175
Decrease in accounts payable and accrued expenses 100,463 (58,537) (28,624)
Decrease in income tax refund recoverable    0 141,590
Decrease in income taxes payable 21,244 (25,075) (56,225)
Net cash (used in) provided by operating activities (568,963) (171,537) 58,753
Cash flow used in investing activities:      
Purchase of property and equipment - net (26,567) (11,920) (15,456)
Purchase of marketable securities (36,202) (579,958) (452,864)
Sale and redemption of marketable securities 417,846 368,253 408,831
Investment in and advances to unconsolidated entities (93,398) (217,160) (132)
Return of investments in unconsolidated entities 69,809 38,368 43,309
Investment in non-performing loan portfolios and foreclosed real estate (26,155) (30,090) (66,867)
Return of investments in non-performing loan portfolios and foreclosed real estate 27,370 16,707 2,806
Acquisition of a business 0 (144,746) 0
Net cash used in investing activities 332,703 (560,546) (80,373)
Cash flow provided by (used in) financing activities:      
Net proceeds from issuance of senior notes 400,383 578,696 0
Proceeds from loans payable 1,164,531 1,002,934 921,251
Principal payments of loans payable (1,195,524) (1,016,081) (952,621)
Repayments of Senior Debt (163,853) 0 (58,837)
Proceeds from stock-based benefit plans 15,798 33,747 25,531
Excess tax benefits from stock-based compensation 24,417 5,776 0
Purchase of treasury stock (15,377) (505) (49,102)
Change in noncontrolling interest 33    2,678
Net cash provided by (used in) financing activities 230,408 604,567 (111,100)
Net decrease in cash and cash equivalents (5,852) (127,516) (132,720)
Cash and cash equivalents, beginning of period 778,824 906,340 1,039,060
Cash and cash equivalents, end of period $ 772,972 $ 778,824 $ 906,340