XML 36 R24.htm IDEA: XBRL DOCUMENT v3.25.2
Inventory (Tables)
 9 Months Ended
Jul. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventory
Major components of inventory at July 31, 2025 and October 31, 2024 were (amounts in thousands):
July 31,
2025		October 31,
2024
Land deposits and costs of future communities$866,503 $620,040 
Land and land development costs2,982,669 2,532,221 
Land and land development costs associated with homes under construction3,828,611 3,617,266 
Total land and land development costs7,677,783 6,769,527 
Homes under construction2,851,445 2,458,541 
Model homes (1)
542,321 484,857 
$11,071,549 $9,712,925 
(1)    Includes the allocated land and land development costs associated with each of our model homes in operation.
The following table provides a summary of the composition of our inventory based on community status at July 31, 2025 and October 31, 2024 (amounts in thousands):
July 31,
2025		October 31,
2024
Land controlled for future communities$275,929 $200,166 
Land owned for future communities422,007 353,030 
Operating communities10,373,613 9,159,729 
$11,071,549 $9,712,925 
Schedule of Inventory Impairment Charges
The amounts we have provided for inventory impairment charges and the expensing of costs that we believed not to be recoverable, included in home sales cost of revenues, are shown in the table below (amounts in thousands):
 Three months ended July 31,Nine months ended July 31,
 2025202420252024
Land controlled for future communities$15,815 $1,759 $21,446 $4,518 
Operating communities7,500 3,700 28,085 30,840 
$23,315 $5,459 $49,531 $35,358 
Schedule of Interest Incurred, Capitalized and Expensed
Interest incurred, capitalized, and expensed, for the periods indicated, were as follows (amounts in thousands):
 Three months ended July 31,Nine months ended July 31,
 2025202420252024
Interest capitalized, beginning of period$196,023 $193,478 $179,797 $190,550 
Interest incurred31,379 33,579 101,235 100,018 
Interest expensed to home sales cost of revenues(30,163)(32,803)(80,550)(91,121)
Interest expensed to land sales and other cost of revenues(1,712)(802)(2,351)(1,821)
Interest capitalized on investments in unconsolidated entities(1,369)(2,027)(4,653)(6,734)
Previously capitalized interest on investments in unconsolidated entities transferred to inventory649 296 1,329 829 
Interest capitalized, end of period$194,807 $191,721 $194,807 $191,721