Geographic Segments

6 Months Ended

Apr. 30, 2011

Geographic Segments [Abstract]

Geographic Segments

15. Geographic Segments

Revenue and (loss) income before income taxes for each of the Company’s geographic segments for the six-month and three month periods ended April 30, 2011 and 2010 were as follows (amounts in millions):

	Six months ended April 30,						Three months ended April 30,
	2011			2010			2011			2010
Revenue:
North	$	167.1		$	174.5		$	84.6		$	83.1
Mid-Atlantic		203.4			204.0			99.6			103.0
South		128.4			119.0			66.5			63.7
West		154.9			140.5			69.0			61.5
Total	$	653.8		$	638.0		$	319.7		$	311.3
(Loss) income before income taxes:
North	$	14.5		$	(4.3	)	$	7.4		$	(2.4	)
Mid-Atlantic		15.1			2.5			6.4			7.6
South		(13.6	)		(27.6	)		(12.3	)		(18.4	)
West		(27.1	)		(26.8	)		(11.9	)		(15.5	)
Corporate and other		(37.4	)		(52.3	)		(21.1	)		(23.1	)
Total	$	(48.5	)	$	(108.5	)	$	(31.5	)	$	(51.8	)

Corporate and other is comprised principally of general corporate expenses such as the offices of the Executive Chairman of the Board, Chief Executive Officer, and President, and the corporate finance, accounting, audit, tax, human resources, risk management, marketing and legal groups, directly expensed interest, offset in part by interest income, income from the Company’s ancillary businesses and income from Gibraltar.

Total assets for each of the Company’s geographic segments at April 30, 2011 and October 31, 2010 are shown in the table below (amounts in millions).

	April 30,		October 31,
	2011		2010
North	$	1,007.1	$	961.3
Mid-Atlantic		1,228.6		1,161.5
South		750.4		693.8
West		670.7		712.4
Corporate and other		1,427.1		1,642.6
Total	$	5,083.9	$	5,171.6

Corporate and other is comprised principally of cash and cash equivalents, marketable securities, restricted cash, income tax refund recoverable, the assets of the Company’s manufacturing facilities and mortgage subsidiary, and its Gibraltar investments.

The Company provided for inventory impairment charges and the expensing of costs that it believed not to be recoverable and write-downs of investments in unconsolidated entities that it believes to be other than temporarily impaired for the six-month and three-month periods ended April 30, 2011 and 2010 as shown in the table below; the carrying value of inventory and investments in and advances to unconsolidated entities for each of the Company’s geographic segments at April 30, 2011 and October 31, 2010 are also shown (amounts in millions).

					Impairment Charges Recognized
	Net Carrying Value				Six months ended					Three months ended
	April 30,		October 31,		April 30,					April 30,
	2011		2010		2011		2010			2011		2010
Inventory:
Land controlled for future communities:
North	$	11.4	$	3.6	$	0.4	$	1.8		$	0.3	$	0.2
Mid-Atlantic		16.8		14.8		0.1		0.2					0.2
South		8.5		11.0		0.3		(0.2	)
West		3.7		2.5		1.0		0.4			1.9		0.2
		40.4		31.9		1.8		2.2			2.2		0.6
Land owned for future communities:
North		230.1		208.5				5.3					5.3
Mid-Atlantic		426.9		452.9				9.0
South		136.5		119.8				8.1					8.1
West		183.3		142.8				13.3					13.3
		976.8		924.0		—		35.7			—		26.7
Operating communities:
North		692.2		685.3		2.7		4.8			1.4		0.1
Mid-Atlantic		720.9		662.4		3.7		1.6			3.7
South		498.7		443.3		3.8		17.3			3.8		11.2
West		455.7		494.8		6.0		14.1			1.8		3.7
		2,367.5		2,285.8		16.2		37.8			10.7		15.0
Total inventory	$	3,384.7	$	3,241.7	$	18.0	$	75.7		$	12.9	$	42.3
Investments in unconsolidated entities:
North	$	41.0	$	47.6
South		41.1		51.7	$	10.0				$	10.0
West		18.9		58.5		29.6					9.6
Corporate		84.3		40.6
Total	$	185.3	$	198.4	$	39.6		—		$	19.6		—