XML 25 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Oct. 31, 2013
Cash flow (used in) provided by operating activities:      
Net income $ 363,167 $ 340,032 $ 170,606
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation and amortization 23,557 22,999 25,210
Stock-based compensation 22,903 21,656 19,041
Excess tax benefits from stock-based compensation (1,628) (7,593) (24,417)
Income Loss from Unconsolidated Entities (21,119) (41,141) (14,392)
Distributions of earnings from unconsolidated entities 19,459 43,973 23,468
Income from distressed loans and foreclosed real estate (13,269) (15,833) (16,312)
Deferred tax provision 62,084 47,431 75,219
Change in deferred tax valuation allowances (12,642) (11,929) (1,337)
Inventory impairments and write-offs 35,709 20,678 4,523
Other (316) (22) 117
Changes in operating assets and liabilities      
Increase in inventory (351,983) (271,982) (941,314)
Origination of mortgage loans (1,029,112) (818,515) (743,497)
Sale of mortgage loans 1,007,671 829,948 716,586
Decrease in restricted cash 1,547 13,694 15,240
Increase in receivables, prepaid expenses and other assets (55,553) (5,214) (51,794)
Increase in customer deposits 46,478 10,516 52,383
Increase in accounts payable and accrued expenses 28,729 82,101 100,463
(Decrease)/Increase in income taxes payable (65,500) 52,401 21,244
Net cash provided by (used in) operating activities 60,182 313,200 (568,963)
Cash flow (used in) provided by investing activities:      
Purchase of property and equipment - net $ (9,447) $ (15,074) (26,567)
Purchase of marketable securities (36,202)
Sale and redemption of marketable securities $ 2,000 $ 40,242 417,846
Investment in unconsolidated entities (123,940) (113,029) (93,398)
Return of investments in unconsolidated entities 39,766 73,845 69,809
Investment in foreclosed real estate and distressed loans (2,624) (2,089) (26,155)
Return of investments in foreclosed real estate and distressed loans 37,625 $ 53,130 $ 27,370
Net increase in cash from purchase of joint venture interest $ 3,848
Acquisition of a business, net of cash acquired $ (1,489,116)
Net cash (used in) provided by investing activities $ (52,772) (1,452,091) $ 332,703
Cash flow provided by financing activities:      
Proceeds from issuance of senior notes 350,000 600,000 $ 400,383
Debt issuance costs for senior notes (3,175) (4,739)
Proceeds from loans payable $ 1,954,432 2,229,371 $ 1,164,531
Debt issuance costs for loans payable (3,063)
Principal payments of loans payable $ (1,659,458) (1,767,115) $ (1,195,524)
Repayments of Senior Debt $ (300,000) (267,960) $ (163,853)
Net proceeds from issuance of common stock 220,365
Proceeds from stock-based benefit plans $ 39,514 28,364 $ 15,798
Excess tax benefits from stock-based compensation 1,628 7,593 24,417
Purchase of treasury stock (56,888) (90,754) (15,377)
(Payments) receipts related to noncontrolling Interest, net (785) 172 33
Net cash provided by (used in) financing activities 325,268 952,234 230,408
Net increase (decrease) in cash and cash equivalents 332,678 (186,657) (5,852)
Cash and cash equivalents, beginning of period 586,315 772,972 778,824
Cash and cash equivalents, end of period $ 918,993 $ 586,315 $ 772,972