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Stockholders' Equity
 12 Months Ended
Oct. 31, 2023
Stockholders' Equity Note [Abstract]  
Stock Issuance and Stock Repurchase Program Stockholders’ Equity
Our authorized capital stock consists of 400 million shares of common stock, $0.01 par value per share (“common stock”), and 15 million shares of preferred stock, $0.01 par value per share. At October 31, 2023, we had 103.8 million shares of common stock issued and outstanding, 3.1 million shares of common stock reserved for outstanding stock options and restricted stock units, 3.7 million shares of common stock reserved for future stock option and award issuances, and 252,000 shares of common stock reserved for issuance under our employee stock purchase plan. As of October 31, 2023, no shares of preferred stock have been issued.
Cash Dividends
On February 21, 2017, our Board of Directors approved the initiation of quarterly cash dividends to shareholders. In March 2023, our Board of Directors approved an increase in the quarterly dividend from $0.20 to $0.21 per share, which was previously increased from $0.17 to $0.20 in March 2022. During fiscal years 2023, 2022 and 2021, we declared and paid aggregate cash dividends of $0.83, $0.77 and $0.62 per share, respectively, to our shareholders.
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 for general corporate purposes, including to obtain shares for the Company’s equity award and other employee benefit plans. On May 17, 2022, our Board of Directors renewed its authorization to repurchase 20 million shares of our common stock and terminated, effective the same date, the existing authorization that had been in effect since March 10, 2020. The Board of Directors did not fix any expiration date for this repurchase program. On December 13, 2023, the Board of Directors renewed its authorization to repurchase 20 million shares of our common stock and terminated, effective the same date, the existing authorization that had been in effect since May 17, 2022.
The following table provides information about the share repurchase programs for the fiscal years ended October 31, 2023, 2022, and 2021:
202320222021
Number of shares purchased (in thousands)7,860 11,000 7,421 
Average price per share (1)
$72.00 $49.34 $50.97 
Remaining authorization at October 31 (in thousands)6,716 14,577 12,563 
(1) Average price per share includes costs associated with the purchases. For the fiscal 2023 period, it also includes the excise tax accrued on our share repurchases as a result of the Inflation Reduction Act of 2022.
Transfer Restriction
On March 17, 2010, our Board of Directors adopted a Certificate of Amendment to the Second Restated Certificate of Incorporation of the Company (the “Certificate of Amendment”). The Certificate of Amendment includes an amendment approved by our stockholders at the 2010 Annual Meeting of Stockholders that restricts certain transfers of our common stock. The Certificate of Amendment’s transfer restrictions generally restrict any direct or indirect transfer of our common stock if the effect would be to increase the direct or indirect ownership of any Person (as defined in the Certificate of Amendment) from less than 4.95% to 4.95% or more of our common stock or increase the ownership percentage of a Person owning or deemed to own 4.95% or more of our common stock. Any direct or indirect transfer attempted in violation of this restriction would be void as of the date of the prohibited transfer as to the purported transferee.
Accumulated Other Comprehensive Income
The changes in each component of accumulated other comprehensive income (“AOCI”), for fiscal years ended October 31, 2023, 2022, and 2021, were as follows (amounts in thousands):

202320222021
Employee Retirement Plans
Beginning balance$2,475 $(6,024)$(7,198)
Gains arising during the period736 9,573 152 
Less: Tax expense(199)(2,424)(316)
Net gains (losses) arising during the period537 7,149 (164)
Losses reclassified from AOCI to net income (1)
92 1,805 1,801 
Less: Tax benefit (2)
(24)(455)(463)
Net losses reclassified from AOCI to net income68 1,350 1,338 
Other comprehensive income, net of tax605 8,499 1,174 
Ending balance$3,080 $2,475 $(6,024)
Derivative Instruments
Beginning balance$35,143 $7,133 $— 
Gains on derivative instruments8,369 37,539 9,383 
Less: Tax expense(2,110)(9,505)(2,408)
Net gains on derivative instruments6,259 28,034 6,975 
(Gains) losses reclassified from AOCI to net income (3)
(4,784)(32)211 
Less: Tax benefit (expense) (2)
1,212 8 (53)
Net (gains) losses reclassified from AOCI to net income(3,572)(24)158 
Other comprehensive income, net of tax2,687 28,010 7,133 
Ending balance$37,830 $35,143 $7,133 
Total AOCI ending balance$40,910 $37,618 $1,109 
(1) Reclassified to “Other income – net”
(2) Reclassified to “Income tax provision”
(3) Reclassified to “Cost of revenues – home sales”