Stockholders' Equity

3 Months Ended

Jan. 31, 2023

Stock Repurchase Program [Abstract]

Stockholders’ Equity

Stockholders’ Equity

Stock Repurchase Program

From time to time since fiscal 2017, our Board of Directors has renewed its authorization to repurchase up to 20 million shares of our common stock in open market transactions, privately negotiated transactions (including accelerated share repurchases), issuer tender offers or other financial arrangements or transactions. Most recently, on May 17, 2022, our Board of Directors renewed its authorization to repurchase 20 million shares of our common stock. Shares may be repurchased for general corporate purposes, including to obtain shares for the Company’s equity awards and other employee benefit plans. The Board of Directors did not fix any expiration date for this repurchase program.

The table below provides, for the periods indicated, information about our share repurchase programs:

	Three months ended January 31,
	2023		2022
Number of shares purchased (in thousands)	187		3,013
Average price per share	$	49.95	$	61.65
Remaining authorization at January 31 (in thousands)	14,389		9,550

Cash Dividends

During the three months ended January 31, 2023 and 2022, we declared and paid cash dividends of $0.20 and $0.17 per share, respectively, to our shareholders.

Accumulated Other Comprehensive Income (Loss)

The changes in each component of accumulated other comprehensive income (loss) (“AOCI”), for the periods indicated, were as follows (amounts in thousands):

	Three months ended January 31,
	2023		2022
Employee Retirement Plans
Beginning balance	$	2,475	$	(6,024)
Gains reclassified from AOCI to net income (1)	23		451
Less: Tax benefit (2)	(6)		(113)
Net gains reclassified from AOCI to net income	17		338
Other comprehensive income – net of tax	17		338
Ending balance	$	2,492	$	(5,686)
Derivative Instruments
Beginning balance	$	35,143	$	7,133
(Losses) gains on derivative instruments	(4,297)		5,748
Less: Tax benefit (expense)	1,086		(1,441)
Net (losses) gains on derivative instruments	(3,211)		4,307
(Losses) gains reclassified from AOCI to net income (3)	(362)		76
Less: Tax expense (benefit) (2)	92		(19)
Net (gains) losses reclassified from AOCI to net income	(270)		57
Other comprehensive (loss) income – net of tax	(3,481)		4,364
Ending balance	$	31,662	$	11,497
Total AOCI ending balance	$	34,154	$	5,811

(1) Reclassified to “Other income – net”

(2) Reclassified to “Income tax provision”

(3) Reclassified to “Cost of revenues – home sales”