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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Cash flow provided by operating activities:    
Net income $ 899,771 $ 1,095,786
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,277 55,428
Stock-based compensation 27,110 25,951
(Income) loss from unconsolidated entities (1,734) 13,799
Distributions of earnings from unconsolidated entities 26,312 31,452
Deferred tax provision 15,510 12,035
Impairment charges and write-offs 56,634 46,465
Gain on sale of assets 0 (5,042)
Other - net 549 (1,572)
Changes in operating assets and liabilities:    
Inventory (902,805) (952,043)
Origination of mortgage loans (1,817,128) (1,450,854)
Sale of mortgage loans 1,825,165 1,427,645
Receivables, prepaid expenses, and other assets (12,159) (12,759)
Current income taxes – net 28,971 (47,038)
Customer deposits – net (9,078) (41,989)
Accounts payable and accrued expenses 114,986 130,392
Net cash provided by operating activities 312,381 327,656
Cash flow used in investing activities:    
Purchase of property, construction, and office equipment – net (58,363) (55,453)
Investments in unconsolidated entities (250,377) (134,480)
Return of investments in unconsolidated entities 64,935 74,317
Net increase in cash from consolidation of joint ventures 5,348 0
Other – net (1,712) (418)
Net cash used in investing activities (240,169) (116,034)
Cash flow used in financing activities:    
Proceeds from issuance of senior notes 498,180 0
Proceeds from loans payable 3,459,151 2,768,938
Debt issuance costs (13,095) (193)
Principal payments of loans payable (3,560,059) (2,865,849)
Redemption of senior notes (350,020) 0
Proceeds related to sales to land bank programs 22,071 0
Payments related to repurchases from land bank programs (62,292) 0
Payments related to stock-based benefit plans – net (21,272) (1,859)
Purchase of treasury stock and excise tax payment (404,296) (423,559)
Dividends paid (73,303) (70,334)
Receipts related to noncontrolling interest – net 579 167
Net cash used in financing activities (504,356) (592,689)
Net decrease in cash, cash equivalents, and restricted cash (432,144) (381,067)
Cash, cash equivalents, and restricted cash, beginning of period 1,370,435 1,344,341
Cash, cash equivalents, and restricted cash, end of period $ 938,291 $ 963,274