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Subsequent Event/Senior Notes Payable
3 Months Ended
Jan. 31, 2012
Senior Notes Payable [Abstract]  
Subsequent Event/Senior Notes Payable

6. Subsequent Event/Senior Notes Payable

On February 7, 2012, the Company, through Toll Brothers Finance Corp., issued $300 million principal amount of 5.875% Senior Notes due 2022 (the “5.875% Senior Notes”). The Company received $296.2 million of net proceeds from the issuance of the 5.875% Senior Notes.

On March 5, 2012, the Company, through Toll Brothers Finance Corp., issued an additional $119.9 million principal amount of its 5.875% Senior Notes in exchange for $80.7 million principal amount of its 6.875% Senior Notes due 2012 and for $36.9 million principal amount of its 5.95% Senior Notes due 2013. The Company expects to recognize a charge of approximately $1.1 million in the quarter ending April 30, 2012 representing the aggregate costs associated with the exchange of both series of notes.