Information on Operating Segments

6 Months Ended

Apr. 30, 2016

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Information on Operating Segments

We operate in two segments: Traditional Home Building and Urban Infill. We build and sell detached and attached homes in luxury residential communities located in affluent suburban markets that cater to move-up, empty-nester, active-adult, age-qualified, and second-home buyers in the United States (“Traditional Home Building”). We also build and sell homes in urban infill markets through Toll Brothers City Living^® (“City Living”).

We have determined that our Traditional Home Building operations operate in five geographic segments: North, Mid-Atlantic, South, West, and California. 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, and Texas

West:    Arizona, Colorado, Nevada, and Washington

California:    California

Before October 31, 2015, California was included in the West geographic segment. Due to the increase in our assets and operations in California, effective October 31, 2015, California is presented as a separate geographic segment. Amounts reported in priors years have been reclassified herein to conform to this current presentation.

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

	Six months ended April 30,						Three months ended April 30,
	2016			2015			2016			2015
Revenues:
Traditional Home Building:
North	$	286,492		$	282,454		$	165,674		$	150,018
Mid-Atlantic	356,395			350,891			186,587			187,503
South	339,246			377,784			192,448			215,917
West	325,625			276,418			188,367			154,065
California	545,341			293,991			328,439			128,402
Traditional Home Building	1,853,099			1,581,538			1,061,515			835,905
City Living	191,024			124,497			54,042			16,678
Total	$	2,044,123		$	1,706,035		$	1,115,557		$	852,583
Income (loss) before income taxes:
Traditional Home Building:
North	$	16,306		$	13,431		$	8,273		$	2,864
Mid-Atlantic	37,870			40,819			20,887			22,095
South	52,379			62,600			31,134			39,276
West	43,851			44,975			24,163			24,554
California	118,483			46,644			74,948			21,716
Traditional Home Building	268,889			208,469			159,405			110,505
City Living	59,916			58,005			16,235			6,660
Corporate and other	(71,591		)	(55,919		)	(35,243		)	(30,633		)
Total	$	257,214		$	210,555		$	140,397		$	86,532

“Corporate and other” is comprised principally of general corporate expenses such as the offices of our executive officers; the corporate finance, accounting, audit, tax, human resources, risk management, information technology, marketing, and legal groups; interest income; income from certain of our ancillary businesses, including Gibraltar; and income from a number of our unconsolidated entities.

Total assets for each of our segments, as of the dates indicated, are shown in the table below (amounts in thousands):

	April 30, 2016		October 31, 2015
Traditional Home Building:
North	$	1,111,095	$	1,061,777
Mid-Atlantic	1,237,266		1,225,988
South	1,264,039		1,196,650
West	1,060,473		949,566
California	2,289,180		2,243,309
Traditional Home Building	6,962,053		6,677,290
City Living	858,087		873,013
Corporate and other	1,144,085		1,656,212
Total	$	8,964,225	$	9,206,515

“Corporate and other” is comprised principally of cash and cash equivalents, marketable securities, restricted cash, deferred tax assets, the assets of our Gibraltar investments, manufacturing facilities, and our mortgage subsidiary.