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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Cash flow used in operating activities:    
Net income $ 177,703 $ 239,558
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 17,165 16,143
Stock-based compensation 18,022 18,250
Loss from unconsolidated entities 8,743 9,172
Distributions of earnings from unconsolidated entities 4,810 2,737
Deferred tax provision 1,535 1,895
Impairment charges and write-offs 22,705 1,471
Other - net 1,196 (751)
Changes in operating assets and liabilities:    
Inventory (832,230) (499,047)
Origination of mortgage loans (430,692) (364,600)
Sale of mortgage loans 523,092 405,112
Receivables, prepaid expenses, and other assets (1,488) (21,587)
Current income taxes – net (50,822) (12,655)
Customer deposits – net 26,530 (14,722)
Accounts payable and accrued expenses 92,956 (87,958)
Net cash used in operating activities (420,775) (306,982)
Cash flow used in investing activities:    
Purchase of property, construction, and office equipment – net (17,325) (13,581)
Investments in unconsolidated entities (118,747) (58,925)
Return of investments in unconsolidated entities 18,428 13,142
Other – net (1,813) 0
Net cash used in investing activities (119,457) (59,364)
Cash flow used in financing activities:    
Proceeds from loans payable 823,131 744,565
Principal payments of loans payable (929,660) (890,178)
Payments related to stock-based benefit plans – net (22,887) (9,279)
Purchase of treasury stock and excise tax payment (23,748) (56)
Dividends paid (24,414) (23,264)
Receipts related to noncontrolling interest – net 386 167
Net cash used in financing activities (177,192) (178,045)
Net decrease in cash, cash equivalents, and restricted cash (717,424) (544,391)
Cash, cash equivalents, and restricted cash, beginning of period 1,370,435 1,344,341
Cash, cash equivalents, and restricted cash, end of period $ 653,011 $ 799,950