Geographic Segments

3 Months Ended

Jan. 31, 2012

Geographic Segments [Abstract]

Geographic Segments

18. Geographic Segments

Revenue and (loss) income before income taxes for each of the Company’s geographic segments, for the periods indicated, were as follows (amounts in thousands):

		September 30,			September 30,
	Three months ended January 31,
	2012			2011
Revenue:
North	$	75,580		$	82,497
Mid-Atlantic		100,799			103,815
South		76,466			61,903
West		69,110			85,901
Total	$	321,955		$	334,116
(Loss) income before income taxes:
North	$	1,201		$	7,068
Mid-Atlantic		10,642			8,088
South		(2,077	)		(1,348	)
West		5,603			(15,240	)
Corporate and other		(21,777	)		(15,615	)
Total	$	(6,408	)	$	(17,047	)

“Corporate and other” is comprised principally of general corporate expenses such as the Offices of the Executive Chairman, the Chief Executive Officer and President, and the corporate finance, accounting, audit, tax, human resources, risk management, marketing and legal groups, directly expensed interest, interest income and income from the Company’s ancillary businesses and income (loss) from a number of its unconsolidated entities.

Total assets for each of the Company’s geographic segments, as of the date indicated, are shown in the table below (amounts in thousands).

		September 30,		September 30,
	January 31, 2012		October 31, 2011
North	$	1,102,276	$	1,060,215
Mid-Atlantic		1,305,586		1,235,847
South		771,461		760,097
West		785,085		650,844
Corporate and other		1,010,494		1,348,243
Total	$	4,974,902	$	5,055,246

Corporate and other is comprised principally of cash and cash equivalents, marketable securities, restricted cash, 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 its investments in unconsolidated entities (including its pro-rata share of impairment charges recognized by the unconsolidated entities in which it has an investment) for the periods indicated, is shown in the table below; the net carrying value of inventory and investments in and advances to unconsolidated entities for each of the Company’s geographic segments, as of the date indicated, is also shown (amounts in thousands).

		September 30,		September 30,		September 30,			September 30,
	Net Carrying Value				Three months ended
	At January 31,		At October 31,		January 31,
	2012		2011		2012			2011
Inventory:
Land controlled for future communities:
North	$	11,462	$	19,390	$	24		$	158
Mid-Atlantic		22,045		21,592		199			66
South		5,016		3,812		555			306
West		4,692		1,787		(1	)		(879	)
		43,215		46,581		777			(349	)
Land owned for future communities:
North		244,835	$	231,085
Mid-Atlantic		473,981		455,818
South		132,936		125,461		918
West		216,995		166,781
		1,068,747		979,145		918			—
Operating communities:
North		764,010		738,473		2,265			1,275
Mid-Atlantic		682,497		659,081
South		551,990		539,582		4,160
West		544,641		453,861					4,200
		2,543,138		2,390,997		6,425			5,475
Total	$	3,655,100	$	3,416,723	$	8,120		$	5,126
Investments in and advances to unconsolidated entities:
North	$	119,389	$	40,734
South		30,746		32,000
West		8,592		17,098				$	20,000
Corporate		34,899		36,523
Total	$	193,626	$	126,355	$	—		$	20,000