Information on Operating Segments

3 Months Ended

Jan. 31, 2014

Geographic Segments [Abstract]

Segment Reporting Disclosure [Text Block]

Information on Operating Segments

At October 31, 2013, the Company determined that it operates in two segments: Traditional Home Building and Urban Infill ("City Living"). Amounts reported in the prior period have been reclassified to conform to the current period.

The Company has determined that its Traditional Home Building operations operate in four geographic segments: North, Mid-Atlantic, South and West. The states comprising each geographic segment are as follows:

North:    Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York

Mid-Atlantic:    Delaware, Maryland, Pennsylvania and Virginia

South:    Florida, North Carolina, South Carolina and Texas

West:    Arizona, California, Colorado, Nevada and Washington

Revenue and income (loss) before income taxes for each of the Company’s reportable segments, for the periods indicated, were as follows (amounts in thousands):

	Three months ended January 31,
	2014			2013
Revenues:
Traditional Home Building:
North	$	127,644		$	82,319
Mid-Atlantic	169,096			129,591
South	150,559			87,185
West	186,226			112,595
Traditional Home Building	633,525			411,690
City Living	10,156			12,911
Total	$	643,681		$	424,601
Income (loss) before income taxes:
Traditional Home Building:
North	$	8,346		$	4,720
Mid-Atlantic	21,551			14,850
South	17,368			2,814
West	34,668			8,047
Traditional Home Building	81,933			30,431
City Living	(1,058		)	2,697
Corporate and other	(9,640		)	(24,802		)
Total	$	71,235		$	8,326

“Corporate and other” is comprised principally of general corporate expenses such as the offices of the Executive Officers of the Company and the corporate finance, accounting, audit, tax, human resources, risk management, marketing and legal groups; interest income and income from certain of the Company’s ancillary businesses, including Gibraltar; and income from a number of the Company's unconsolidated entities.

Total assets for each of the Company’s geographic segments, as of the date indicated, are shown in the table below (amounts in thousands).

	January 31, 2014		October 31, 2013
Traditional Home Building:
North	$	1,000,985	$	963,597
Mid-Atlantic	1,254,409		1,231,438
South	1,126,470		953,955
West	1,547,449		1,290,388
Traditional Home Building	4,929,313		4,439,378
City Living	781,698		674,302
Corporate and other	2,049,244		1,713,779
Total	$	7,760,255	$	6,827,459

"Corporate and other" is comprised principally of cash and cash equivalents, marketable securities, restricted cash, deferred tax assets and the assets of the Company’s Gibraltar investments, manufacturing facilities and mortgage subsidiary.

The Company provided for inventory impairment charges and the expensing of costs that it believed not to be recoverable and recoveries of prior charges for the periods indicated, as shown in the table below; the net carrying value of inventory and investments in and advances to unconsolidated entities for each of the Company’s geographic segments, as of the dates indicated, are also shown in the table below (amounts in thousands):

	Net Carrying Value				Impairments
	At January 31,		At October 31,		Three months ended January 31,
	2014		2013		2014		2013
Inventory:
Land controlled for future communities:
Traditional Home Building:
North	$	14,937	$	16,267	$	180	$	88
Mid-Atlantic	28,172		29,423		246		16
South	15,163		14,606		249		355
West	169,919		13,371		7		(450		)
Traditional Home Building	228,191		73,667		682		9
City Living	26,358		26,135
	254,549		99,802		682		9
Land owned for future communities:
Traditional Home Building:
North	177,321		135,282
Mid-Atlantic	285,761		308,585
South	254,989		158,457
West	460,963		448,125
Traditional Home Building	1,179,034		1,050,449		—		—
City Living	312,171		237,181
	1,491,205		1,287,630		—		—
Operating communities:
Traditional Home Building:
North	788,391		785,175		1,300		500
Mid-Atlantic	911,138		866,256
South	729,757		690,302
West	819,421		697,573				200
Traditional Home Building	3,248,707		3,039,306		1,300		700
City Living	241,186		223,674
	3,489,893		3,262,980		1,300		700
Total	$	5,235,647	$	4,650,412	$	1,982	$	709
Investments in and advances to unconsolidated entities:
Traditional Home Building:
Mid-Atlantic	$	11,850	$	11,850
South	91,097		50,452
West	84,502		110,467
Traditional Home Building	187,449		172,769		—		—
City Living	145,748		135,950
Corporate and other	97,418		94,414
Total	$	430,615	$	403,133	$	—	$	—