Supplemental Guarantor Information (Tables)

3 Months Ended

Jan. 31, 2012

Supplemental Guarantor Information [Abstract]

Supplemental Consolidated Financial Information

	Toll								Non-
	Brothers,			Subsidiary		Guarantor			Guarantor
	Inc.			Issuer		Subsidiaries			Subsidiaries			Eliminations			Consolidated
ASSETS
Cash and cash equivalents							441,916			133,778						575,694
Marketable securities							143,729									143,729
Restricted cash		28,307					18,434			1,500						48,241
Inventory							3,496,927			158,173						3,655,100
Property, construction and office equipment, net							98,408			3,091						101,499
Receivables, prepaid expenses and other assets					6,444		75,622			17,827			(1,702	)		98,191
Mortgage loans receivable										36,911						36,911
Customer deposits held in escrow							23,309			1,780						25,089
Investments in and advances to unconsolidated entities							77,473			116,153						193,626
Investments in non-performing loan portfolios and foreclosed real estate										96,822						96,822
Investments in and advances to consolidated entities		2,671,770			1,513,343		(943,024	)		(236,201	)		(3,005,888	)		—
		2,700,077			1,519,787		3,432,794			329,834			(3,007,590	)		4,974,902
LIABILITIES AND EQUITY
Liabilities:
Loans payable							92,079			1,200						93,279
Senior notes					1,491,442											1,491,442
Mortgage company warehouse loan										31,864						31,864
Customer deposits							93,356			3,978						97,334
Accounts payable							103,491			1,820						105,311
Accrued expenses					28,345		306,994			117,857			(1,782	)		451,414
Income taxes payable		102,276								(2,000	)					100,276
Total liabilities		102,276			1,519,787		595,920			154,719			(1,782	)		2,370,920
Equity:
Stockholders’ equity:
Common stock		1,687					3,054			2,003			(5,057	)		1,687
Additional paid-in capital		399,743					1,366			2,734			(4,100	)		399,743
Retained earnings		2,231,465					2,836,017			164,197			(3,000,214	)		2,231,465
Treasury stock, at cost		(31,531	)													(31,531	)
Accumulated other comprehensive loss		(3,563	)				(3,563	)					3,563			(3,563	)
Total stockholders’ equity		2,597,801			—		2,836,874			168,934			(3,005,808	)		2,597,801
Noncontrolling interest										6,181						6,181
Total equity		2,597,801			—		2,836,874			175,115			(3,005,808	)		2,603,982
		2,700,077			1,519,787		3,432,794			329,834			(3,007,590	)		4,974,902

	Toll								Non-
	Brothers,			Subsidiary		Guarantor			Guarantor
	Inc.			Issuer		Subsidiaries			Subsidiaries			Eliminations			Consolidated
ASSETS
Cash and cash equivalents							775,300			131,040						906,340
Marketable securities							233,572									233,572
Restricted cash							19,084			676						19,760
Inventory							2,911,211			505,512						3,416,723
Property, construction and office equipment, net							77,001			22,711						99,712
Receivables, prepaid expenses and other assets					6,768		74,980			26,067			(2,239	)		105,576
Mortgage loans receivable										63,175						63,175
Customer deposits held in escrow							10,682			4,177						14,859
Investments in and advances to unconsolidated entities							86,481			39,874						126,355
Investments in non-performing loan portfolios and foreclosed real estate										69,174						69,174
Investments in and advances to consolidated entities		2,694,419			1,508,550		(727,258	)		(467,395	)		(3,008,316	)		—
		2,694,419			1,515,318		3,461,053			395,011			(3,010,555	)		5,055,246
LIABILITIES AND EQUITY
Liabilities:
Loans payable							61,994			44,562						106,556
Senior notes					1,490,972											1,490,972
Mortgage company warehouse loan										57,409						57,409
Customer deposits							71,388			12,436						83,824
Accounts payable							96,645			172						96,817
Accrued expenses					24,346		320,021			178,965			(2,281	)		521,051
Income taxes payable		108,066								(2,000	)					106,066
Total liabilities		108,066			1,515,318		550,048			291,544			(2,281	)		2,462,695
Equity:
Stockholders’ equity:
Common stock		1,687					3,054			2,003			(5,057	)		1,687
Additional paid-in capital		400,382					1,366			2,734			(4,100	)		400,382
Retained earnings		2,234,251					2,909,487			92,532			(3,002,019	)		2,234,251
Treasury stock, at cost		(47,065	)													(47,065	)
Accumulated other comprehensive loss		(2,902	)				(2,902	)					2,902			(2,902	)
Total stockholders’ equity		2,586,353			—		2,911,005			97,269			(3,008,274	)		2,586,353
Noncontrolling interest										6,198						6,198
Total equity		2,586,353			—		2,911,005			103,467			(3,008,274	)		2,592,551
		2,694,419			1,515,318		3,461,053			395,011			(3,010,555	)		5,055,246

	Toll									Non-
	Brothers,			Subsidiary			Guarantor			Guarantor
	Inc.			Issuer			Subsidiaries			Subsidiaries		Eliminations			Consolidated
Revenues								327,692			12,386		(18,123	)		321,955
Cost of revenues								271,277			2,281		(1,950	)		271,608
Selling, general and administrative		13			478			73,256			9,550		(13,660	)		69,637
Interest expense					25,286								(25,286	)		—
		13			25,764			344,533			11,831		(40,896	)		341,245
Loss from operations		(13	)		(25,764	)		(16,841	)		555		22,773			(19,290	)
Other
Income from unconsolidated entities								5,229			1,458					6,687
Interest and other		7			25,764			5,212			233		(25,021	)		6,195
Loss from subsidiaries		(6,402	)										6,402			—
Loss before income tax benefit		(6,408	)		—			(6,400	)		2,246		4,154			(6,408	)
Income tax (benefit) provision		(3,622	)					(3,618	)		1,269		2,349			(3,622	)
Net (loss) income		(2,786	)		—			(2,782	)		977		1,805			(2,786	)

	Toll									Non-
	Brothers,			Subsidiary			Guarantor			Guarantor
	Inc.			Issuer			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenues								325,055			25,150			(16,089	)		334,116
Cost of revenues								269,275			15,947			(3,257	)		281,965
Selling, general and administrative		28			341			63,988			8,528			(11,634	)		61,251
Interest expense					25,845			1,112						(25,845	)		1,112
		28			26,186			334,375			24,475			(40,736	)		344,328
Loss (income) from operations		(28	)		(26,186	)		(9,320	)		675			24,647			(10,212	)
Other
(Loss) income from unconsolidated entities								6,521			(17,523	)					(11,002	)
Interest and other					26,186			(14,220	)		(1,538	)		(6,261	)		4,167
Loss from subsidiaries		(17,019	)											17,019			—
Loss before income tax benefit		(17,047	)		—			(17,019	)		(18,386	)		35,405			(17,047	)
Income tax benefit		(20,464	)					(22,359	)		(22,058	)		44,417			(20,464	)
Net income		3,417			—			5,340			3,672			(9,012	)		3,417

		000000			000000			000000			000000			000000			000000
	Toll									Non-
	Brothers,			Subsidiary			Guarantor			Guarantor
	Inc.			Issuer			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash flow used in operating activities:
Net (loss) income		(2,786	)					(2,782	)		977			1,805			(2,786	)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization					794			4,419			16						5,229
Stock-based compensation		5,626															5,626
Income (loss) from unconsolidated entities								(7,729	)		1,042						(6,687	)
Distributions of earnings from unconsolidated entities								872									872
Income from non-performing loan portfolios and foreclosed real estate											(4,138	)					(4,138	)
Deferred tax benefit		(1,246	)														(1,246	)
Deferred tax valuation allowances		1,246															1,246
Inventory impairments and write-offs								8,120									8,120
Change in fair value of mortgage loans receivable and derivative instruments											346						346
Gain on marketable securities								(39	)								(39	)
Changes in operating assets and liabilities
Increase in inventory								(100,509	)		(7,959	)					(108,468	)
Origination of mortgage loans											(120,662	)					(120,662	)
Sale of mortgage loans											146,895						146,895
(Increase) decrease in restricted cash		(28,307	)					650			(824	)					(28,481	)
Decrease (increase) in receivables, prepaid expenses and other assets		22,096			(4,793	)		(177,441	)		174,480			(2,413	)		11,929
Increase (decrease) in customer deposits								9,291			(6,061	)					3,230
(Decrease) increase in accounts payable and accrued expenses		(109	)		3,999			(11,553	)		(60,072	)		608			(67,127	)
Decrease in income taxes payable		(5,790	)														(5,790	)
Net cash (used in) provided by operating activities		(9,270	)		—			(276,701	)		124,040			—			(161,931	)
Cash flow used in investing activities:
Purchase of property and equipment—net								(2,711	)		(829	)					(3,540	)
Sale and redemption of marketable securities								88,217									88,217
Investment in and advances to unconsolidated entities								(256	)		(71,528	)					(71,784	)
Return of investments in unconsolidated entities								15,333									15,333
Investment in non-performing loan portfolios and foreclosed real estate											(26,410	)					(26,410	)
Return of investments in non-performing loan portfolios and foreclosed real estate											3,702						3,702
Acquisition of a business								(144,746	)								(144,746	)
Net cash used in investing activities								(44,163	)		(95,065	)					(139,228	)
Cash flow (used in) provided by financing activities:
Proceeds from loans payable											199,139						199,139
Principal payments of loans payable								(12,520	)		(225,376	)					(237,896	)
Proceeds from stock-based benefit plans		9,334															9,334
Purchase of treasury stock		(64	)														(64	)
Net cash (used in) provided by financing activities		9,270						(12,520	)		(26,237	)					(29,487	)
Net decrease (increase) in cash and cash equivalents		—			—			(333,384	)		2,738			—			(330,646	)
Cash and cash equivalents, beginning of year								775,300			131,040						906,340
Cash and cash equivalents, end of year		—			—			441,916			133,778			—			575,694

	Toll									Non-
	Brothers,			Subsidiary			Guarantor			Guarantor
	Inc.			Issuer			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash flow from operating activities:
Net income		3,417						5,340			3,672			(9,012	)		3,417
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization		28			807			3,239			313						4,387
Stock-based compensation		5,373															5,373
Impairments of investments in unconsolidated entities											20,000						20,000
Income from unconsolidated entities								(5,922	)		(3,076	)					(8,998	)
Distributions of earnings from unconsolidated entities								593			2,200						2,793
Inventory impairments and write-offs								5,126									5,126
Deferred tax benefit		(6,589	)														(6,589	)
Deferred tax valuation allowance		6,589															6,589
Change in fair value of mortgage loans receivable and derivative instruments											714						714
Changes in operating assets and liabilities
Decrease in inventory								(39,214	)		(81,661	)					(120,875	)
Origination of mortgage loans											(182,659	)					(182,659	)
Sale of mortgage loans											233,891						233,891
Decrease in restricted cash								8,498									8,498
Decrease (increase) in receivables, prepaid expenses and other assets		8,712			(3,709	)		(69,228	)		63,393			8,769			7,937
Increase (decrease) in customer deposits								(1,183	)		3,460						2,277
(Decrease) increase in accounts payable and accrued expenses		(608	)		2,902			(41,317	)		(207	)		243			(38,987	)
Decrease in income taxes payable		(20,082	)														(20,082	)
Net cash (used in) provided by operating activities		(3,160	)		—			(134,068	)		60,040			—			(77,188	)
Cash flow from investing activities:
Purchase of property and equipment								(1,189	)		(3,092	)					(4,281	)
Purchase of marketable securities								(119,238	)								(119,238	)
Sale of marketable securities								102,500									102,500
Return of investments from unconsolidated entities								6,305									6,305
Net cash used in investing activities								(11,622	)		(3,092	)					(14,714	)
Cash flow from financing activities:
Proceeds from loans payable											266,035						266,035
Principal payments of loans payable								(6,794	)		(322,960	)					(329,754	)
Proceeds from stock-based benefit plans		3,323															3,323
Purchase of treasury stock		(163	)														(163	)
Net cash (used in) provided by financing activities		3,160						(6,794	)		(56,925	)					(60,559	)
Net (decrease) increase in cash and cash equivalents		—			—			(152,484	)		23			—			(152,461	)
Cash and cash equivalents, beginning of period		—			—			930,387			108,673			—			1,039,060
Cash and cash equivalents, end of period		—			—			777,903			108,696			—			886,599