Toll Brothers (TOL) 10-Q 3 Sep 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Jul. 31, 2024	Aug. 29, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2024
Document Transition Report	false
Entity File Number	001-09186
Entity Registrant Name	Toll Brothers, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-2416878
Entity Address, Address Line One	1140 Virginia Drive
Entity Address, City or Town	Fort Washington
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19034
City Area Code	215
Local Phone Number	938-8000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	TOL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100,972,000
Entity Central Index Key	0000794170
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023
ASSETS
Cash and cash equivalents	$ 893,422	$ 1,300,068
Inventory	10,198,060	9,057,578
Property, construction and office equipment, net	459,234	323,990
Receivables, prepaid expenses and other assets	577,993	691,256
Mortgage loans held for sale, at fair value	137,627	110,555
Customer deposits held in escrow	109,783	84,530
Investments in unconsolidated entities	983,592	959,041
Total assets	13,359,711	12,527,018
Liabilities:
Loans payable	1,099,787	1,164,224
Senior notes	1,596,873	1,596,185
Mortgage company loan facility	125,417	100,058
Customer deposits	523,982	540,718
Accounts payable	675,471	597,582
Accrued expenses	1,777,553	1,548,781
Income taxes payable	129,582	166,268
Total liabilities	5,928,665	5,713,816
Stockholders' equity:
Preferred stock, none issued	0	0
Common stock, 112,937 shares issued July 31, 2024 and October 31, 2023, respectively	1,129	1,129
Additional paid-in capital	692,700	698,548
Retained earnings	7,701,274	6,675,719
Treasury stock, at cost — 11,998 and 9,146 shares at July 31, 2024 and October 31, 2023, respectively	(1,016,277)	(619,150)
Accumulated other comprehensive income ("AOCI")	36,038	40,910
Total stockholders' equity	7,414,864	6,797,156
Noncontrolling interest	16,182	16,046
Total equity	7,431,046	6,813,202
Total liabilities and stockholders' equity	$ 13,359,711	$ 12,527,018

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares shares in Thousands	Jul. 31, 2024	Oct. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, shares issued	0	0
Common stock, shares issued	112,937	112,937
Treasury Stock, Common, Shares	11,998	9,146

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Revenues	$ 2,727,944	$ 2,687,642	$ 7,513,278	$ 6,974,790
Cost of revenues	1,985,940	1,943,527	5,371,589	5,140,613
Selling, general and administrative	244,813	229,004	712,557	668,038
Income from operations	497,191	515,111	1,429,132	1,166,139
Other:
(Loss) income from unconsolidated entities	(10,514)	30,548	(13,799)	20,813
Other income - net	16,950	7,358	49,234	50,453
Income before income taxes	503,627	553,017	1,464,567	1,237,405
Income tax provision	129,016	138,228	368,781	310,870
Net income	374,611	414,789	1,095,786	926,535
Other comprehensive income, net of tax:
Other comprehensive (loss) income – net of tax	(3,789)	5,601	(4,872)	1,858
Total comprehensive income	$ 370,822	$ 420,390	$ 1,090,914	$ 928,393
Per share:
Basic earnings	$ 3.64	$ 3.77	$ 10.51	$ 8.36
Diluted earnings	$ 3.60	$ 3.73	$ 10.40	$ 8.28
Weighted average number of shares:
Basic	102,980	110,003	104,299	110,871
Diluted	104,014	111,123	105,361	111,881
Home Building [Member]
Revenues	$ 2,724,472	$ 2,674,602	$ 7,303,328	$ 6,914,122
Cost of revenues	1,977,162	1,931,949	5,339,671	5,065,750
Land [Member]
Revenues	3,472	13,040	209,950	60,668
Cost of revenues	$ 8,778	$ 11,578	$ 31,918	$ 74,863

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]
Beginning balance at Oct. 31, 2022	$ 6,021,840	$ 1,279	$ 716,786	$ 6,166,732	$ (916,327)	$ 37,618	$ 15,752
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	926,535			926,535
Purchase of treasury stock	(240,486)				(240,486)
Exercise of stock options, stock based compensation issuances, and employee stock purchase plan issuances	47,089		(42,319)		89,408
Stock-based compensation	21,290		21,290
Dividends declared	(68,981)			(68,981)
Other Comprehensive Income (Loss), Net of Tax	1,858					1,858
Net income (loss) attributable to noncontrolling interest	(446)						(446)
Capital contributions (distributions) – net	1,784						1,784
Ending balance at Jul. 31, 2023	6,710,483	1,279	695,757	7,024,286	(1,067,405)	39,476	17,090
Beginning balance at Apr. 30, 2023	6,435,726	1,279	697,583	6,632,502	(945,019)	33,875	15,506
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	414,789			414,789
Purchase of treasury stock	(147,283)				(147,283)
Exercise of stock options, stock based compensation issuances, and employee stock purchase plan issuances	18,806		(6,091)		24,897
Stock-based compensation	4,265		4,265
Dividends declared	(23,005)			(23,005)
Other Comprehensive Income (Loss), Net of Tax	5,601					5,601
Net income (loss) attributable to noncontrolling interest	(200)						(200)
Capital contributions (distributions) – net	1,784						1,784
Ending balance at Jul. 31, 2023	6,710,483	1,279	695,757	7,024,286	(1,067,405)	39,476	17,090
Beginning balance at Oct. 31, 2023	6,813,202	1,129	698,548	6,675,719	(619,150)	40,910	16,046
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,095,786			1,095,786
Purchase of treasury stock	(427,064)				(427,064)
Exercise of stock options, stock based compensation issuances, and employee stock purchase plan issuances	(1,862)		(31,799)		29,937
Stock-based compensation	25,951		25,951
Dividends declared	(70,231)			(70,231)
Other Comprehensive Income (Loss), Net of Tax	(4,872)					(4,872)
Net income (loss) attributable to noncontrolling interest	(667)						(667)
Capital contributions (distributions) – net	803						803
Ending balance at Jul. 31, 2024	7,431,046	1,129	692,700	7,701,274	(1,016,277)	36,038	16,182
Beginning balance at Apr. 30, 2024	7,324,194	1,129	689,259	7,350,235	(772,476)	39,827	16,220
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	374,611			374,611
Purchase of treasury stock	(245,852)				(245,852)
Exercise of stock options, stock based compensation issuances, and employee stock purchase plan issuances	1,680		(371)		2,051
Stock-based compensation	3,812		3,812
Dividends declared	(23,572)			(23,572)
Other Comprehensive Income (Loss), Net of Tax	(3,789)					(3,789)
Net income (loss) attributable to noncontrolling interest	(227)						(227)
Capital contributions (distributions) – net	189						189
Ending balance at Jul. 31, 2024	$ 7,431,046	$ 1,129	$ 692,700	$ 7,701,274	$ (1,016,277)	$ 36,038	$ 16,182

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Cash flow provided by (used in) operating activities:
Net income	$ 1,095,786	$ 926,535
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	55,428	54,249
Stock-based compensation	25,951	21,290
Loss (income) from unconsolidated entities	13,799	(20,813)
Distributions of earnings from unconsolidated entities	31,452	69,107
Deferred tax provision	12,035	5,764
Impairment charges and write offs	46,465	40,137
Gain (Loss) on Sale of Assets	(5,042)	0
Other	(1,572)	3,037
Changes in operating assets and liabilities
Inventory	(952,043)	(165,152)
Origination of mortgage loans	(1,450,854)	(1,137,893)
Sale of mortgage loans	1,427,645	1,248,621
Receivables, prepaid expenses and other assets	(12,759)	(34,667)
Current income taxes, net	(47,038)	(133,983)
Customer deposits, net	(41,989)	(26,384)
Accounts payable and accrued expenses	130,392	(174,815)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	327,656	675,033
Cash flow (used in) provided by investing activities:
Purchase of property, construction and office equipment - net	(55,453)	(54,100)
Investments in and advances to unconsolidated entities	(134,480)	(162,576)
Return of investments in unconsolidated entities	74,317	74,006
Proceeds from the sale of assets	556	9,041
Other	(974)	0
Net Cash (Used in) Provided By Investing Activities, Continuing Operations	(116,034)	(133,629)
Cash flow used in financing activities:
Proceeds from loans payable	2,768,938	2,413,016
Payments of Debt Issuance Costs	(193)	(5,324)
Principal payments of loans payable	(2,865,849)	(2,603,645)
Repayments of Senior Debt	0	(400,000)
(Payments) proceeds from stock-based benefit plans	(1,859)	47,091
Purchase of treasury stock	(423,559)	(239,320)
Dividends paid	(70,334)	(69,070)
Proceeds from (Payments to) Noncontrolling Interests	167	0
Net Cash Used in Financing Activities, Continuing Operations	(592,689)	(857,252)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(381,067)	(315,848)
Cash, Cash Equivalents, and Restricted Cash , beginning of period	1,344,341	1,398,550
Cash, Cash Equivalents, and Restricted Cash, end of period	$ 963,274	$ 1,082,702

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Jul. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Significant Accounting Policies Basis of Presentation Our condensed consolidated financial statements include the accounts of Toll Brothers, Inc. (the “Company,” “we,” “us,” or “our”), a Delaware corporation, and its majority owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Investments in 50% or less owned partnerships and affiliates are accounted for using the equity method unless it is determined that we have effective control of the entity, in which case we would consolidate the entity. Our unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. The October 31, 2023 balance sheet amounts and disclosures have been derived from our October 31, 2023 audited financial statements. Since the condensed consolidated financial statements do not include all the information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements, they should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023 (“2023 Form 10-K”). In the opinion of management, the unaudited condensed consolidated financial statements include all recurring adjustments necessary to present fairly our financial position as of July 31, 2024; the results of our operations and changes in equity for the three-month and nine-month periods ended July 31, 2024 and 2023; and our cash flows for the nine-month periods ended July 31, 2024 and 2023. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Use of Estimates The preparation of financial statements in accordance with GAAP requires estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates and assumptions may prove to be incorrect for a variety of reasons, whether as a result of the risks and uncertainties our business is subject to or for other reasons. In times of economic disruption when uncertainty regarding future economic conditions is heightened, our estimates and assumptions are subject to greater variability. Actual results could differ from the estimates and assumptions we make and such differences may be material. Revenue Recognition Home sales revenues: Revenues and cost of revenues from home sales are recognized at the time each home is delivered and title and possession are transferred to the buyer. For the majority of our home closings, our performance obligation to deliver a home is satisfied in less than one year from the date a binding sale agreement is signed. In certain states where we build, we are not able to complete certain outdoor features prior to the closing of the home. To the extent these separate performance obligations are not complete upon the home closing, we defer a portion of the home sales revenues related to these obligations and subsequently recognize the revenue upon completion of such obligations. As of July 31, 2024, the home sales revenues and related costs we deferred related to these obligations were immaterial. Our contract liabilities, consisting of deposits received from customers for sold but undelivered homes, totaled $524.0 million and $540.7 million at July 31, 2024 and October 31, 2023, respectively. Of the outstanding customer deposits held as of October 31, 2023, we recognized $120.0 million and $411.2 million in home sales revenues during the three months and nine months ended July 31, 2024, respectively. Of the outstanding customer deposits held as of October 31, 2022, we recognized $150.4 million and $425.5 million in home sales revenues during the three months and nine months ended July 31, 2023, respectively. Land sales and other revenues: Our revenues from land sales and other generally consist of: (1) land sales to joint ventures in which we retain an interest; (2) lot sales to third-party builders within our master-planned communities; (3) bulk lot sales to third parties of land we have decided no longer meets our development criteria; (4) sales of land parcels to third parties (typically because there is a superior economic use of the property); and (5) sales of commercial and retail properties generally located at our high-rise urban luxury condominium projects. In general, our performance obligation for each of these land sales is fulfilled upon the delivery of the land, which generally coincides with the receipt of cash consideration from the counterparty. For land sale transactions that contain repurchase options, revenues and related costs are not recognized until the repurchase option expires. In addition, when we sell land to a joint venture in which we retain an interest, we do not recognize revenue or gains on the sale to the extent of our retained interest in such joint venture. In February 2024, we sold a parcel of land to a commercial developer for net cash proceeds of $180.7 million, which resulted in a pre-tax gain of $175.2 million during the nine months ended July 31, 2024. Forfeited Customer Deposits: Forfeited customer deposits are recognized in “Home sales revenues” in our Condensed Consolidated Statements of Operations and Comprehensive Income in the period in which we determine that the customer will not complete the purchase of the home and we have the right to retain the deposit. Sales Incentives: In order to promote sales of our homes, we may offer our home buyers sales incentives. These incentives vary by type of incentive and by amount on a community-by-community and home-by-home basis. Incentives are reflected as a reduction in home sales revenues. Incentives are recognized at the time the home is delivered to the home buyer and we receive the sales proceeds. Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items to reconcile to segment profit or loss, and the title and position of the entity’s CODM. The amendments in this update also expand the interim segment disclosure requirements. ASU 2023-07 will be effective for our fiscal year ending October 31, 2025 and for interim periods starting in our first quarter of fiscal 2026. Early adoption is permitted and the amendments in this update are required to be applied on a retrospective basis. We are currently reviewing the impact that the adoption of ASU 2023-07 may have on our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which requires expanded disclosure of our income tax rate reconciliation and income taxes paid. ASU 2023-09 will be effective for our fiscal year ending October 31, 2026 and may be applied either retrospectively or prospectively. We are currently evaluating ASU 2023-09 and do not expect it to have a material effect on our consolidated financial statements and disclosures. In March 2024, the SEC issued final rules on the enhancement and standardization of climate-related disclosures. The rules require disclosure of material climate-related risks; activities to mitigate or adapt to such risks; governance and management of such risks; and material greenhouse gas (GHG) emissions from operations owned or controlled (Scope 1) and/or indirect emissions from purchased energy consumed in operations (Scope 2). Additionally, the rules require disclosures in the notes to the financial statements of the effects of severe weather events and other natural conditions, subject to certain materiality thresholds. On March 15, 2024, a federal appellate court imposed a temporary stay pending judicial review of these new rules and on April 4, 2024, the SEC voluntarily stayed implementation pending completion of the judicial review. We are currently evaluating the impact of this final rule on our disclosures. Reclassification Certain prior period amounts have been reclassified to conform to the fiscal 2024 presentation.

Inventory

Inventory	9 Months Ended
	Jul. 31, 2024
Inventory Disclosure [Abstract]
Inventory	Inventory Major components of inventory at July 31, 2024 and October 31, 2023 were (amounts in thousands): July 31, October 31, Land deposits and costs of future communities $ 571,400 $ 549,035 Land and land development costs 2,855,478 2,631,147 Land and land development costs associated with homes under construction 3,488,892 2,916,334 Total land and land development costs 6,915,770 6,096,516 Homes under construction 2,784,577 2,515,484 Model homes (1) 497,713 445,578 $ 10,198,060 $ 9,057,578 (1) Includes the allocated land and land development costs associated with each of our model homes in operation. The following table provides a summary of the composition of our inventory based on community status at July 31, 2024 and October 31, 2023 (amounts in thousands): July 31, October 31, Land controlled for future communities $ 204,529 $ 173,175 Land owned for future communities 614,473 663,413 Operating communities 9,379,058 8,220,990 $ 10,198,060 $ 9,057,578 Operating communities include communities offering homes for sale; communities that have sold all available home sites but have not completed delivery of the homes and communities preparing to open for sale. The carrying value attributable to operating communities includes the cost of homes under construction, land and land development costs, the carrying cost of home sites in current and future phases of these communities, and the carrying cost of model homes. Backlog consists of homes under contract but not yet delivered to our home buyers (“backlog”). The amounts we have provided for inventory impairment charges and the expensing of costs that we believe not to be recoverable, and which are included in home sales cost of revenues, are shown in the table below (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Land controlled for future communities $ 1,759 $ 895 $ 4,518 $ 9,343 Land owned for future communities — 369 — 694 Operating communities 3,700 2,100 30,840 12,400 $ 5,459 $ 3,364 $ 35,358 $ 22,437 In addition, we recognized $3.8 million and $4.4 million of impairment charges on land held for sale included in land sales and other cost of revenues during the three-month and nine-month periods ended July 31, 2024, respectively. We recognized $17.7 million of similar impairment charges during the nine-month period ended July 31, 2023. No impairment charges were recognized in land sales and other cost of revenues during the three-month period ended July 31, 2023. See Note 13, “Commitments and Contingencies,” for information regarding land purchase commitments. At July 31, 2024, we evaluated our land purchase contracts, including those to acquire land for apartment developments, to determine whether any of the selling entities were variable interest entities (“VIEs”) and, if they were, whether we were the primary beneficiary of any of them. Under these land purchase contracts, we do not possess legal title to the land; our risk is generally limited to deposits paid to the sellers and predevelopment costs incurred; and the creditors of the sellers generally have no recourse against us. At July 31, 2024, we determined that 260 land purchase contracts, with an aggregate purchase price of $4.79 billion, on which we had made aggregate deposits totaling $468.0 million, were VIEs, and that we were not the primary beneficiary of any VIE related to our land purchase contracts. At October 31, 2023, we determined that 251 land purchase contracts, with an aggregate purchase price of $3.79 billion, on which we had made aggregate deposits totaling $421.4 million, were VIEs and that we were not the primary beneficiary of any VIE related to our land purchase contracts. However, at July 31, 2024 and October 31, 2023, certain contracts were accrued as we concluded we were economically compelled to purchase the land. See Note 6, “Accrued Expenses,” for information regarding liabilities related to consolidated inventory not owned. Interest incurred, capitalized, and expensed, for the periods indicated, were as follows (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Interest capitalized, beginning of period $ 193,478 $ 211,760 $ 190,550 $ 209,468 Interest incurred 33,579 32,624 100,018 107,341 Interest expensed to home sales cost of revenues (32,803) (37,004) (91,121) (99,642) Interest expensed to land sales and other cost of revenues (802) (1,258) (1,821) (6,086) Interest capitalized on investments in unconsolidated entities (2,027) (2,271) (6,734) (7,432) Previously capitalized interest transferred to investments in unconsolidated entities — — — (244) Previously capitalized interest on investments in unconsolidated entities transferred to inventory 296 296 829 742 Interest capitalized, end of period $ 191,721 $ 204,147 $ 191,721 $ 204,147

Investments in Unconsolidated E

Investments in Unconsolidated Entities	9 Months Ended
	Jul. 31, 2024
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities We have investments in various unconsolidated entities and our ownership interest in these investments ranges from 5.0% to 50%. These entities are structured as joint ventures and either: (i) develop land for the joint venture participants and for sale to outside builders (“Land Development Joint Ventures”); (ii) develop for-sale homes (“Home Building Joint Ventures”); (iii) develop luxury for-rent residential apartments and single family homes, commercial space, and a hotel (“Rental Property Joint Ventures”); or (iv) provide financing and land banking to residential builders and developers for the acquisition and development of land and home sites (“Gibraltar Joint Ventures”). The table below provides information as of July 31, 2024, regarding active joint ventures that we were invested in, by joint venture category ($ amounts in thousands): Land Home Building Rental Property Gibraltar Total Number of unconsolidated entities 15 2 42 2 61 Investment in unconsolidated entities (1) $ 373,025 $ 59,259 $ 539,587 $ 11,721 $ 983,592 Number of unconsolidated entities with funding commitments by the Company 6 — 24 1 31 Company’s remaining funding commitment to unconsolidated entities (2) $ 157,809 $ — $ 85,678 $ 4,132 $ 247,619 (1) Our total investment includes $147.9 million related to nine unconsolidated joint venture-related variable interests in VIEs and our maximum exposure to losses related to these VIEs is approximately $366.7 million as of July 31, 2024, inclusive of our investment in these joint ventures. Our ownership interest in such unconsolidated Joint Venture VIEs ranges from 25% to 50% . (2) Our remaining funding commitment includes approximately $116.5 million related to our unconsolidated joint venture-related variable interests in VIEs. The table below provides information as of October 31, 2023, regarding active joint ventures that we were invested in, by joint venture category ($ amounts in thousands): Land Home Building Rental Property Gibraltar Total Number of unconsolidated entities 16 2 43 3 64 Investment in unconsolidated entities (1) $ 351,154 $ 65,285 $ 531,823 $ 10,779 $ 959,041 Number of unconsolidated entities with funding commitments by the Company 9 — 19 1 29 Company’s remaining funding commitment to unconsolidated entities (2) $ 204,438 $ — $ 184,266 $ 12,066 $ 400,770 (1) Our total investment includes $121.6 million related to 11 unconsolidated joint venture-related variable interests in VIEs and our maximum exposure to losses related to these VIEs is approximately $329.3 million as of October 31, 2023, inclusive of our investment in joint ventures. Our ownership interest in such unconsolidated Joint Venture VIEs ranges from 25% to 50% . (2) Our remaining funding commitment includes approximately $105.4 million related to our unconsolidated joint venture-related variable interests in VIEs. Certain joint ventures in which we have investments obtained debt financing to finance a portion of their activities. The table below provides information at July 31, 2024, regarding the debt financing obtained by category ($ amounts in thousands): Land Home Building Rental Property Total Number of joint ventures with debt financing 9 1 39 49 Aggregate loan commitments $ 539,589 $ 98,150 $ 3,603,148 $ 4,240,887 Amounts borrowed under loan commitments $ 384,172 $ 77,141 $ 2,655,333 $ 3,116,646 The table below provides information at October 31, 2023, regarding the debt financing obtained by category ($ amounts in thousands): Land Home Building Rental Property Total Number of joint ventures with debt financing 12 2 42 56 Aggregate loan commitments $ 610,758 $ 219,650 $ 3,731,847 $ 4,562,255 Amounts borrowed under loan commitments $ 445,506 $ 135,723 $ 2,152,872 $ 2,734,101 More specific and/or recent information regarding our investments in, advances to, and future commitments to these entities is provided below. New Joint Ventures There were no new joint ventures entered into during the nine-months ended July 31, 2024. The table below provides information on joint ventures entered into during the nine-months ended July 31, 2023 ($ amounts in thousands): Land Development Joint Ventures Home Building Rental Property Joint Ventures Number of unconsolidated joint ventures entered into during the period 1 $ — 3 Investment balance at July 31, 2023 $ 12,808 $ — $ 7,096 Number of consolidated joint ventures entered into during the period — 1 1 Carrying value of consolidated joint ventures’ assets at July 31, 2023 $ — $ 5,000 $ 10,604 Noncontrolling interests in consolidated joint ventures at July 31, 2023 $ — $ 835 $ 2,651 Results of Operations and Intra-entity Transactions From time to time, certain of our land development and rental property joint ventures sell assets to unrelated parties or to our joint venture partners. In the nine-month period ended July 31, 2024, one of our Rental Property Joint Ventures sold its assets and we recognized $21.0 million in “Income (loss) from unconsolidated entities” on our Condensed Consolidated Statements of Operations and Comprehensive Income. No similar transactions occurred in the three-month period ended July 31, 2024. In the three-month and nine-month periods ended July 31, 2023, one of our joint ventures sold its assets and we recognized $35.0 million in “Income (loss) from unconsolidated entities” on our Condensed Consolidated Statements of Operations and Comprehensive Income In the three-month periods ended July 31, 2024 and 2023, we purchased land from unconsolidated entities, principally related to our acquisition of lots from our Land Development Joint Ventures, totaling $29.8 million and $25.7 million, respectively. In the nine-month periods ended July 31, 2024 and 2023, we purchased land from unconsolidated entities, principally related to our acquisition of lots from our Land Development Joint Ventures, totaling $91.7 million and $94.8 million, respectively. Our share of income from the lots we acquired was insignificant in each period. In the nine-month periods ended July 31, 2023, we sold land to unconsolidated entities, which principally involved land sales to our Rental Property Joint Ventures, for $8.2 million. This amount is included in “Land sales and other revenue” on our Condensed Consolidated Statements of Operations and Comprehensive Income and are generally sold at or near our land basis. No similar land sales to unconsolidated entities occurred in the three-month or nine-month periods ended July 31, 2024 or the three-month period ended July 31, 2023. Guarantees The unconsolidated entities in which we have investments generally finance their activities with a combination of partner equity and debt financing. In some instances, we have guaranteed portions of the debt of unconsolidated entities. These guarantees may include any or all of the following: (i) project completion guarantees, including any cost overruns; (ii) repayment guarantees, generally covering a percentage of the outstanding loan; (iii) carry cost guarantees, which cover costs such as interest, real estate taxes, and insurance; (iv) an environmental indemnity provided to the lender that holds the lender harmless from and against losses arising from the discharge of hazardous materials from the property and non-compliance with applicable environmental laws; and (v) indemnification of the lender from “bad boy acts” of the unconsolidated entity or its partners. In some instances, we and our joint venture partner have provided joint and several guarantees in connection with loans to unconsolidated entities. In these situations, we generally seek to implement a reimbursement agreement with our partner that provides that neither party is responsible for more than its proportionate share or agreed upon share of the guarantee; however, we are not always successful. In addition, if the joint venture partner does not have adequate financial resources to meet its obligations under such a reimbursement agreement, we may be liable for more than our proportionate share. We believe that, as of July 31, 2024, in the event we become legally obligated to perform under a guarantee of an obligation of an unconsolidated entity due to a triggering event, the collateral in such entity should be sufficient to repay a significant portion of the obligation. If it is not, we and our partners would need to contribute additional capital to the venture. Information with respect to certain of the Company’s unconsolidated entities’ outstanding debt obligations, loan commitments and our guarantees thereon are as follows ($ amounts in thousands): July 31, 2024 October 31, 2023 Loan commitments in the aggregate $ 3,099,500 $ 3,341,700 Our maximum estimated exposure under repayment and carry cost guarantees if the full amount of the debt obligations were borrowed (1) $ 665,500 $ 688,000 Debt obligations borrowed in the aggregate $ 2,118,100 $ 1,643,600 Our maximum estimated exposure under repayment and carry cost guarantees of the debt obligations borrowed $ 569,500 $ 544,100 Estimated fair value of guarantees provided by us related to debt and other obligations $ 18,000 $ 19,500 Terms of guarantees 1 month - 3.3 years 1 month - 4.0 years (1) At July 31, 2024 and October 31, 2023, our maximum estimated exposure under repayment and carry cost guarantees includes approximately $102.3 million related to our unconsolidated joint venture VIEs. The maximum exposure estimates presented above do not take into account any recoveries from the underlying collateral or any reimbursement from our partners, nor do they include any potential exposures related to project completion guarantees or the indemnities noted above, which are not estimable. We have not made payments under any of the outstanding guarantees, nor have we been called upon to do so. Variable Interest Entities We have both unconsolidated and consolidated joint venture-related variable interests in VIEs. Information regarding our involvement in unconsolidated joint-venture related variable interests in VIEs has been disclosed throughout information presented above. The table below provides information as of July 31, 2024 and October 31, 2023, regarding our consolidated joint venture-related variable interests in VIEs ($ amounts in thousands): Balance Sheet Classification July 31, October 31, Number of Joint Venture VIEs that the Company is the primary beneficiary and consolidates 5 5 Carrying value of consolidated VIEs assets Receivables, prepaid expenses and other assets and Investments in unconsolidated entities $ 104,600 $ 89,600 Our partners’ interests in consolidated VIEs Noncontrolling interest $ 10,200 $ 10,200 Our ownership interest in the above consolidated Joint Venture VIEs ranges from 75% to 98%. As shown above, we are the primary beneficiary of certain VIEs due to our controlling financial interest in such ventures as we have the power to direct the activities that most significantly impact the joint ventures’ performance and the obligation to absorb expected losses or receive benefits from the joint ventures. The assets of these VIEs can only be used to settle the obligations of the VIEs. In addition, in certain of the joint ventures, in the event additional contributions are required to be funded to the joint ventures prior to the admission of any additional investor at a future date, we will fund 100% of such contributions, including our partner’s pro rata share, which we expect would be funded through an interest-bearing loan. For other VIEs, we are not the primary beneficiary because the power to direct the activities of such VIEs that most significantly impact their performance was either shared by us and such VIE’s other partners or such activities were controlled by our partner. For VIEs where the power to direct significant activities is shared, business plans, budgets, and other major decisions are required to be unanimously approved by all partners. Management and other fees earned by us are nominal and believed to be at market rates, and there is no significant economic disproportionality between us and other partners. Joint Venture Condensed Combined Financial Information The Condensed Combined Balance Sheets, as of the dates indicated, and the Condensed Combined Statements of Operations, for the periods indicated, for the unconsolidated entities in which we have an investment are included below (in thousands): Condensed Combined Balance Sheets: July 31, October 31, Cash and cash equivalents $ 217,515 $ 161,274 Inventory 1,266,323 1,425,145 Loans receivable – net 26,355 17,024 Rental properties 2,827,765 1,907,604 Rental properties under development 1,565,392 1,804,664 Other assets 473,781 385,197 Total assets $ 6,377,131 $ 5,700,908 Debt – net of deferred financing costs $ 3,120,781 $ 2,711,986 Other liabilities 480,102 498,866 Partners’ equity 2,776,248 2,490,056 Total liabilities and equity $ 6,377,131 $ 5,700,908 Company’s net investment in unconsolidated entities (1) $ 983,592 $ 959,041 (1) Our underlying equity in the net assets of the unconsolidated entities was less than our net investment in unconsolidated entities by $9.7 million and $40.9 million as of July 31, 2024 and October 31, 2023, respectively, and these differences are primarily a result of interest capitalized on our investments; the estimated fair value of the guarantees provided to the joint ventures; distributions from entities in excess of the carrying amount of our net investment; unrealized gains on our retained joint venture interests; other than temporary impairments we have recognized; and gains recognized from the sale of our ownership interests. Condensed Combined Statements of Operations: Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Revenues $ 286,981 $ 186,669 $ 571,512 $ 429,647 Cost of revenues 199,012 124,414 365,813 266,593 Other expenses 71,271 67,195 210,670 187,336 Total expenses 270,283 191,609 576,483 453,929 Income (loss) from operations 16,698 (4,940) (4,971) (24,282) Other income (2) 45,543 79,857 155,452 76,251 Income before income taxes 62,241 74,917 150,481 51,969 Income tax expense 4,468 1,195 2,119 1,030 Net income 57,773 73,722 148,362 50,939 Company’s (loss) income from unconsolidated entities (3) $ (10,514) $ 30,548 $ (13,799) $ 20,813 (2) The nine months ended July 31, 2024 includes $112.7 million related to the gain on the sale of assets by one of our Rental Property Joint Ventures. The three and nine months ended July 31, 2023 includes gains of $78.8 million related to the sale of assets by one of our Rental Property Joint Ventures. (3) Differences between our loss from unconsolidated entities and our percentage interest in the underlying net income (loss) of the entities are generally a result of distributions from entities in excess of the carrying amount of our investment; promote earned on the gains recognized by joint ventures and those promoted cash flows being distributed; other than temporary impairments we have recognized; recoveries of previously incurred charges; unrealized gains on our retained joint venture interests; gains recognized from the sale of our investment to our joint venture partner; our share of the entities’ profits related to home sites purchased by us which reduces our cost basis of the home sites acquired; and amortization of other basis differences.

Receivables, Prepaid Expenses,

Receivables, Prepaid Expenses, and Other Assets	9 Months Ended
	Jul. 31, 2024
Receivables, prepaid expenses and other assets [Abstract]
Receivables, Prepaid Expenses, and Other Assets	Receivables, Prepaid Expenses, and Other Assets Receivables, prepaid expenses, and other assets at July 31, 2024 and October 31, 2023, consisted of the following (amounts in thousands): July 31, 2024 October 31, 2023 Expected recoveries from insurance carriers and others $ 85,692 $ 94,987 Improvement cost receivable 41,281 40,992 Escrow cash held by our wholly owned captive title company 68,210 44,273 Properties held for rental apartment and commercial development 116,146 225,261 Prepaid expenses 36,672 43,763 Right-of-use asset 107,005 102,787 Derivative assets 20,431 41,612 Other 102,556 97,581 $ 577,993 $ 691,256

Loans Payable, Senior Notes and

Loans Payable, Senior Notes and Mortgage Company Loan Facility	9 Months Ended
	Jul. 31, 2024
Debt Disclosure [Abstract]
Loans Payable, Senior Notes, and Mortgage Company Loan Facility	Loans Payable, Senior Notes, and Mortgage Company Loan Facility Loans Payable At July 31, 2024 and October 31, 2023, loans payable consisted of the following (amounts in thousands): July 31, October 31, Senior unsecured term loan $ 650,000 $ 650,000 Loans payable – other 452,201 517,378 Deferred issuance costs (2,414) (3,154) $ 1,099,787 $ 1,164,224 Senior Unsecured Term Loan We are party to a $650.0 million senior unsecured term loan facility (the “Term Loan Facility”) with a syndicate of banks of which $487.5 million matures February 14, 2028, $101.6 million matures on November 1, 2025 and the remaining $60.9 million matures on November 1, 2026. There are no payments required before these stated maturity dates. At July 31, 2024, the interest rate on the Term Loan Facility was 6.24% per annum. Toll Brothers, Inc. and substantially all of its 100%-owned home building subsidiaries are guarantors under the Term Loan Facility. The Term Loan Facility contains substantially the same financial covenants as the Revolving Credit Facility described below. In November 2020, we entered into five interest rate swap transactions to hedge $400.0 million of the Term Loan Facility. The interest rate swaps effectively fix the interest cost on the $400.0 million at 0.369% plus the spread set forth in the pricing schedule in the Term Loan Facility through October 2025. The spread at July 31, 2024 was 0.90%. These interest rate swaps were designated as cash flow hedges. Revolving Credit Facility At July 31, 2024, we had a $1.955 billion senior unsecured revolving credit facility (the “Revolving Credit Facility”) with a syndicate of banks that is scheduled to mature on February 14, 2028. The Revolving Credit Facility provides us with a committed borrowing capacity of $1.955 billion, which we have the ability to increase up to $3.00 billion with the consent of lenders. Toll Brothers, Inc. and substantially all of its 100%-owned home building subsidiaries are guarantors of the borrower’s obligations under the Revolving Credit Facility. Both our Revolving Credit Facility and Term Loan Facility require us to maintain certain financial covenants, which include not exceeding a defined maximum leverage ratio and maintaining a minimum tangible net worth. In addition, our ability to repurchase our common stock and pay cash dividends is limited by these agreements. However, during the three and nine months ended July 31, 2024, these limitations did not meaningfully restrict the amount of cash dividends paid or stock repurchased. We were in compliance with all covenants and requirements as of July 31, 2024. At July 31, 2024, we had no outstanding borrowings under the Revolving Credit Facility and had approximately $180.9 million of outstanding letters of credit that were issued under the Revolving Credit Facility. At July 31, 2024, the interest rate on outstanding borrowings under the Revolving Credit Facility would have been 6.54% per annum. Loans Payable – Other “Loans payable – other” primarily represents purchase money mortgages on properties we acquired that the seller had financed, project-level financing, and various revenue bonds that were issued by government entities on our behalf to finance community infrastructure and our manufacturing facilities. At July 31, 2024, the weighted-average interest rate on “Loans payable – other” was 5.61% per annum. Senior Notes At July 31, 2024, we had four issues of senior notes outstanding with an aggregate principal amount of $1.60 billion. In our second quarter of fiscal 2023, we redeemed all $400.0 million principal amount of 4.375% Senior Notes due April 15, 2023, at par, plus accrued interest. Mortgage Company Loan Facilities Toll Brothers Mortgage Company (“TBMC”), our wholly owned mortgage subsidiary, had a mortgage warehousing agreement (the “Warehousing Agreement”) with a bank to finance the origination of mortgage loans by TBMC. The Warehousing Agreement was accounted for as a secured borrowing under ASC 860, “Transfers and Servicing.” The Warehousing Agreement provided for loan purchases up to $75.0 million, subject to certain sublimits. In addition, the Warehousing Agreement provided for an accordion feature under which TBMC could request that the aggregate commitments under the Warehousing Agreement be increased to an amount up to $150.0 million for a short period of time. Borrowings under the Warehousing Agreement bore interest at BSBY plus 1.75% per annum (with a BSBY floor of 0.50%). The Warehousing Agreement was terminated in January 2024.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Jul. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses at July 31, 2024 and October 31, 2023 consisted of the following (amounts in thousands): July 31, October 31, Land, land development, and construction $ 341,866 $ 286,516 Liabilities related to consolidated inventory not owned 440,276 268,630 Compensation and employee benefits 193,924 212,684 Escrow liability associated with our wholly owned captive title company 66,199 42,451 Self-insurance 222,567 230,688 Warranty 210,980 206,171 Lease liabilities 127,423 123,866 Deferred income 52,650 52,907 Interest 30,368 30,044 Commitments to unconsolidated entities 38,069 29,212 Other 53,231 65,612 $ 1,777,553 $ 1,548,781 The table below provides, for the periods indicated, a reconciliation of the changes in our warranty accrual (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Balance, beginning of period $ 206,717 $ 149,395 $ 206,171 $ 164,409 Additions – homes closed during the period 9,748 12,395 24,714 29,666 Change in accruals for homes closed in prior years – net 6,132 3,995 18,277 6,018 Charges incurred (11,617) (20,334) (38,182) (54,642) Balance, end of period $ 210,980 $ 145,451 $ 210,980 $ 145,451 Since fiscal 2014, we have received water intrusion claims from owners of homes built since 2002 in communities located in Pennsylvania and Delaware (which are in our North region). Our recorded estimated repair costs to resolve these claims were approximately $39.6 million at July 31, 2024 and $41.1 million at October 31, 2023. We continue to perform review procedures to assess, among other things, the number of affected homes, whether repairs are likely to be required, and the extent of such repairs. Our review process, conducted quarterly, includes an analysis of many factors to determine whether a claim is likely to be received and the estimated costs to resolve any such claim, including: the closing dates of the homes; the number of claims received; our inspection of homes; an estimate of the number of homes we expect to repair; the type and cost of repairs that have been performed in each community; the estimated costs to remediate pending and future claims; the expected recovery from our insurance carriers and suppliers; and the previously recorded amounts related to these claims. We also monitor legal developments relating to these types of claims and review the volume, relative merits and adjudication of claims in litigation or arbitration. Our review process includes a number of estimates that are based on assumptions with uncertain outcomes. Due to the degree of judgment required in making these estimates and the inherent uncertainty in potential outcomes, it is reasonably possible that our actual costs and recoveries could differ from those recorded. However, based on the facts and circumstances currently known, we do not believe that any such differences would be material.

Income Taxes

Income Taxes	9 Months Ended
	Jul. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We recorded income tax provisions of $129.0 million and $138.2 million for the three months ended July 31, 2024 and 2023, respectively. The effective tax rate was 25.6% for the three months ended July 31, 2024, compared to 25.0% for the three months ended July 31, 2023. We recorded income tax provisions of $368.8 million and $310.9 million for the nine months ended July 31, 2024 and 2023, respectively. The effective tax rate was 25.2% for the nine months ended July 31, 2024, compared to 25.1% for the nine months ended July 31, 2023. The income tax provisions for all periods included the provision for state income taxes, interest accrued on anticipated tax assessments, excess tax benefits related to stock-based compensation, federal energy efficient home credits and other permanent differences. We are subject to state tax in the jurisdictions in which we operate. We estimate our state tax liability based upon the individual taxing authorities’ regulations, estimates of income by taxing jurisdiction, and our ability to utilize certain tax-saving strategies. Based on our estimate of the allocation of income or loss among the various taxing jurisdictions and changes in tax regulations and their impact on our tax strategies, we estimate that our state income tax rate for the full fiscal year 2024 will be approximately 6.1%. Our state income tax rate for the full fiscal year 2023 was 6.2%. At July 31, 2024, we had $10.5 million of gross unrecognized tax benefits, including interest and penalties. If these unrecognized tax benefits were to reverse in the future, they would have a beneficial impact on our effective tax rate at that time. During the next 12 months, it is reasonably possible that our unrecognized tax benefits will change, but we are not able to provide a range of such change. The possible changes would be principally due to the expiration of tax statutes, settlements with taxing jurisdictions, increases due to new tax positions taken, and the accrual of estimated interest and penalties.

Stock-Based Benefit Plans

Stock-Based Benefit Plans	9 Months Ended
	Jul. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Benefit Plans	Stock-Based Benefit Plans We grant various types of restricted stock units to our employees and our non-employee directors. We also granted stock options to certain of our employees and non-employee directors through fiscal year 2023. Additionally, we have an employee stock purchase plan that allows employees to purchase our stock at a discount. Information regarding the amount of total stock-based compensation expense and tax benefit recognized by us, for the periods indicated, is as follows (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Total stock-based compensation expense recognized $ 3,812 $ 4,265 $ 25,951 $ 21,290 Income tax benefit recognized $ 986 $ 1,076 $ 6,662 $ 5,380 At July 31, 2024 and October 31, 2023, the aggregate unamortized value of unvested stock-based compensation awards was approximately $25.4 million and $23.2 million, respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Jul. 31, 2024
Stock Repurchase Program [Abstract]
Stockholders’ Equity	Stockholders’ Equity Stock Repurchase Program From time to time since fiscal 2017, our Board of Directors has renewed its authorization to repurchase up to 20 million shares of our common stock in open market transactions, privately negotiated transactions (including accelerated share repurchases), issuer tender offers or other financial arrangements or transactions. Most recently, on December 13, 2023, our Board of Directors renewed its authorization to repurchase 20 million shares of our common stock. Shares may be repurchased for general corporate purposes, including to obtain shares for the Company’s equity awards and other employee benefit plans. This authorization terminated, effective December 13, 2023, the existing authorization that had been in effect since May 17, 2022. The Board of Directors did not fix any expiration date for this repurchase program. The table below provides, for the periods indicated, information about our share repurchase programs: Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Number of shares purchased (in thousands) 2,073 1,931 3,576 3,561 Average price per share (1) $ 118.57 $ 76.26 $ 119.42 $ 67.53 Remaining authorization at July 31 (in thousands) 16,424 11,016 16,424 11,016 (1) Average price per share includes costs associated with the purchases, including the excise tax accrued on our share repurchases as a result of the Inflation Reduction Act of 2022, as applicable. Cash Dividends On March 12, 2024, our Board of Directors approved an increase in our quarterly cash dividend from $0.21 per share to $0.23 per share. During the three month periods ended July 31, 2024 and 2023, we declared and paid cash dividends of $0.23 and $0.21 per share, respectively, to our shareholders. During the nine months ended July 31, 2024 and 2023, we declared and paid cash dividends of $0.67 and $0.62 per share, respectively, to our shareholders. Accumulated Other Comprehensive Income The changes in each component of accumulated other comprehensive income (“AOCI”), for the periods indicated, were as follows (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Employee Retirement Plans Beginning balance $ 2,911 $ 2,510 $ 3,080 $ 2,475 (Gains) losses reclassified from AOCI to net income (1) (115) 23 (342) 70 Less: Tax expense (benefit) (2) 29 (6) 87 (18) Net (gains) losses reclassified from AOCI to net income (86) 17 (255) 52 Other comprehensive (loss) income – net of tax (86) 17 (255) 52 Ending balance $ 2,825 $ 2,527 $ 2,825 $ 2,527 Derivative Instruments Beginning balance $ 36,916 $ 31,365 $ 37,830 $ 35,143 (Losses) gains on derivative instruments (2,151) 8,900 659 5,191 Less: Tax benefit (expense) 553 (2,250) (506) (1,302) Net (losses) gains on derivative instruments (1,598) 6,650 153 3,889 Gains reclassified from AOCI to net income (3) (2,832) (1,427) (6,871) (2,789) Less: Tax expense (2) 727 361 2,101 706 Net gains reclassified from AOCI to net income (2,105) (1,066) (4,770) (2,083) Other comprehensive (loss) income – net of tax (3,703) 5,584 (4,617) 1,806 Ending balance $ 33,213 $ 36,949 $ 33,213 $ 36,949 Total AOCI ending balance $ 36,038 $ 39,476 $ 36,038 $ 39,476 (1) Reclassified to “Other income – net” (2) Reclassified to “Income tax provision” (3) Reclassified to “Cost of revenues – home sales”

Earnings Per Share Information

Earnings Per Share Information	9 Months Ended
	Jul. 31, 2024
Earnings Per Share [Abstract]
Earnings per Share Information	Earnings per Share Information The table below provides, for the periods indicated, information pertaining to the calculation of earnings per share, common stock equivalents, weighted-average number of antidilutive options and restricted stock units, and shares issued (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Numerator: Net income as reported $ 374,611 $ 414,789 $ 1,095,786 $ 926,535 Denominator: Basic weighted-average shares 102,980 110,003 104,299 110,871 Common stock equivalents (1) 1,034 1,120 1,062 1,010 Diluted weighted-average shares 104,014 111,123 105,361 111,881 Other information: Weighted-average number of antidilutive options and restricted stock units (2) 9 121 51 395 Shares issued under stock incentive and employee stock purchase plans 50 548 725 1,984 (1) Common stock equivalents represent the dilutive effect of outstanding in-the-money stock options using the treasury stock method and shares expected to be issued upon the conversion of restricted stock units under our equity award programs. (2) Weighted-average number of antidilutive options and restricted stock units are based upon the average closing price of our common stock on the New York Stock Exchange for the period.

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Jul. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Disclosures Financial Instruments The table below provides, as of the dates indicated, a summary of assets/(liabilities) related to our financial instruments, measured at fair value on a recurring basis (amounts in thousands): Fair value Financial Instrument Fair value July 31, 2024 October 31, 2023 Mortgage Loans Held for Sale Level 2 $ 137,627 $ 110,555 Forward Loan Commitments — Mortgage Loans Held for Sale Level 2 $ (57) $ 2,234 Interest Rate Lock Commitments (“IRLCs”) Level 2 $ 5 $ (4,135) Forward Loan Commitments — IRLCs Level 2 $ (5) $ 4,135 Interest Rate Swap Contracts Level 2 $ 20,426 $ 35,243 At July 31, 2024 and October 31, 2023, the carrying value of cash and cash equivalents, escrow cash held by our wholly owned captive title company, and customer deposits held in escrow approximated fair value. The fair values of the interest rate swap contracts are included in “Receivables, prepaid expenses and other assets” in our Condensed Consolidated Balance Sheets and are determined using widely accepted valuation techniques including discounted cash flow analysis based on the expected cash flows of each swap contract. Although the Company has determined that the significant inputs, such as interest yield curve and discount rate, used to value its interest rate swap contracts fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our counterparties and our own credit risk utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. However, as of July 31, 2024, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our interest rate swap contract positions and have determined that the credit valuation adjustments were not significant to the overall valuation of our interest rate swap contracts. As a result, we have determined that our interest rate swap contracts valuations in their entirety are classified in Level 2 of the fair value hierarchy. Mortgage Loans Held for Sale At the end of the reporting period, we determine the fair value of our mortgage loans held for sale and the forward loan commitments we have entered into as a hedge against the interest rate risk of our mortgage loans and commitments using the market approach to determine fair value. The table below provides, as of the dates indicated, the aggregate unpaid principal and fair value of mortgage loans held for sale (amounts in thousands): Aggregate unpaid Fair value Fair value At July 31, 2024 $ 138,044 $ 137,627 $ (417) At October 31, 2023 $ 114,835 $ 110,555 $ (4,280) Inventory We recognize inventory impairment charges and land impairment charges based on the difference in the carrying value of the inventory and its fair value at the time of the evaluation. The fair value of the aforementioned inventory was determined using Level 3 criteria. Estimated fair value is primarily determined by discounting the estimated future cash flow of each community. In determining the fair value related to land impairments, we consider recent offers received, prices for land in recent comparable sales transactions, and other factors. We record land impairments related to land parcels we plan to sell to third parties within land sales and other cost of revenues. See Note 1, “Significant Accounting Policies – Inventory,” in our 2023 Form 10-K for additional information regarding our methodology for determining fair value. Impairments of inventory were insignificant during the three-month and nine-month periods ended July 31, 2024 and 2023 and, accordingly, we did not disclose the ranges of certain quantitative unobservable inputs utilized in determining the fair value of these impaired operating communities. Debt The table below provides, as of the dates indicated, the book value, excluding any bond discounts, premiums, and deferred issuance costs, and estimated fair value of our debt (amounts in thousands): July 31, 2024 October 31, 2023 Fair value Book value Estimated Book value Estimated Loans payable (1) Level 2 $ 1,102,201 $ 1,082,633 $ 1,167,378 $ 1,150,704 Senior notes (2) Level 1 1,600,000 1,566,910 1,600,000 1,481,220 Mortgage company loan facility (3) Level 2 125,417 125,417 100,058 100,058 $ 2,827,618 $ 2,774,960 $ 2,867,436 $ 2,731,982 (1) The estimated fair value of loans payable was based upon contractual cash flows discounted at interest rates that we believed were available to us for loans with similar terms and remaining maturities as of the applicable valuation date. (2) The estimated fair value of our senior notes is based upon their market prices as of the applicable valuation date. (3) We believe that the carrying value of our mortgage company loan borrowings approximates their fair value.

Other Income - Net

Other Income - Net	9 Months Ended
	Jul. 31, 2024
Other Income and Expenses [Abstract]
Other Income - net	Other Income – Net The table below provides the significant components of other income – net (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Interest income $ 9,033 $ 8,109 $ 28,508 $ 22,187 Income (loss) from ancillary businesses 5,405 (1,451) 11,152 (1,543) Management fee income earned by home building operations 985 839 3,291 2,901 Gain on litigation settlements – net — — — 27,683 Other 1,527 (139) 6,283 (775) Total other income – net $ 16,950 $ 7,358 $ 49,234 $ 50,453 Income (loss) from ancillary businesses is generated by our mortgage, title, landscaping, smart home technology, Gibraltar, apartment living, city living, and golf course and country club operations. The table below provides, for the periods indicated, revenues and expenses for our ancillary businesses (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Revenues $ 43,850 $ 36,057 $ 115,309 $ 97,238 Expenses $ 38,445 $ 37,508 $ 104,157 $ 98,781 In the nine-month period ended July 31, 2024, our smart home technology business recognized a $4.4 million gain from a bulk sale of security monitoring accounts, which is included in income from ancillary businesses above. No similar amounts were recognized in the nine-month period ended July 31, 2023. In the three-month and nine-month periods ending July 31, 2024, we recognized $1.8 million and $6.7 million of write-offs related to previously incurred costs that we believed not to be recoverable in our apartment rental development business operations, respectively. In the three-month and nine-month periods ending July 31, 2023, we recognized $3.3 million and $3.8 million of write-offs related to previously incurred costs that we believed not to be recoverable in our apartment rental development business operations, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jul. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies Legal Proceedings We are involved in various claims and litigation arising principally in the ordinary course of business. We believe that adequate provision for resolution of all current claims and pending litigation has been made and that the disposition of these matters will not have a material adverse effect on our results of operations and liquidity or on our financial condition. Land Purchase Contracts Generally, our agreements to acquire land parcels do not require us to purchase those land parcels, although we, in some cases, forfeit any deposit balance outstanding if and when we terminate an agreement. Information regarding our land purchase contracts, as of the dates indicated, is provided in the table below (amounts in thousands): July 31, 2024 October 31, 2023 Aggregate purchase price: Unrelated parties $ 5,239,397 $ 4,191,160 Unconsolidated entities that the Company has investments in 35,731 31,477 Total $ 5,275,128 $ 4,222,637 Deposits against aggregate purchase price $ 506,304 $ 449,925 Additional cash required to acquire land 4,768,824 3,772,712 Total $ 5,275,128 $ 4,222,637 Amount of additional cash required to acquire land included in accrued expenses $ 433,755 $ 254,030 In addition, we expect to purchase approximately 8,100 additional home sites over a number of years from several joint ventures in which we have interests; the purchase prices of these home sites will be determined at a future date. At July 31, 2024, we also had purchase contracts to acquire land for apartment developments of approximately $215.4 million, of which we had outstanding deposits in the amount of $11.2 million. We intend to acquire and develop these projects in joint ventures with unrelated parties in the future. We have additional land parcels under option that have been excluded from the aggregate purchase price since we do not believe that we will complete the purchase of these land parcels and no additional funds will be required from us to terminate these contracts. Investments in Unconsolidated Entities At July 31, 2024, we had investments in a number of unconsolidated entities, were committed to invest or advance additional funds, and had guaranteed a portion of the indebtedness and/or loan commitments of these entities. See Note 3, “Investments in Unconsolidated Entities,” for more information regarding our commitments to these entities. Surety Bonds and Letters of Credit At July 31, 2024, we had outstanding surety bonds amounting to $909.2 million, primarily related to our obligations to governmental entities to construct improvements in our communities. We have an additional $319.1 million of surety bonds outstanding that guarantee other obligations. Although significant construction and development activities have been completed related to these improvements, the bonds are generally not released until all construction and development activities are completed and acceptance by the counterparty is received. The aggregate amount of surety bonds outstanding is in excess of the estimated cost of the remaining work to be performed. We do not believe that it is probable that any outstanding bonds will be drawn upon. At July 31, 2024, we had outstanding letters of credit of $180.9 million under our Revolving Credit Facility. These letters of credit were issued to secure various financial obligations, including insurance policy deductibles and other claims, land deposits, and security to complete improvements in communities in which we are operating. We do not believe that it is probable that any outstanding letters of credit will be drawn upon. At July 31, 2024, we had provided financial guarantees of $28.6 million related to fronted letters of credit to secure obligations related to certain of our insurance policy deductibles and other claims. Backlog At July 31, 2024, we had agreements of sale outstanding to deliver 6,769 homes with an aggregate sales value of $7.07 billion. Mortgage Commitments Our mortgage subsidiary provides mortgage financing for a portion of our home closings. For those home buyers to whom our mortgage subsidiary provides mortgages, we determine whether the home buyer qualifies for the mortgage based upon information provided by the home buyer and other sources. For those home buyers who qualify, our mortgage subsidiary provides the home buyer with a mortgage commitment that specifies the terms and conditions of a proposed mortgage loan based upon then-current market conditions. Prior to the actual closing of the home and funding of the mortgage, the home buyer will lock in an interest rate based upon the terms of the commitment. At the time of rate lock, our mortgage subsidiary agrees to sell the proposed mortgage loan to one of several outside recognized mortgage financing institutions (“investors”) that is willing to honor the terms and conditions, including interest rate, committed to the home buyer. We believe that these investors have adequate financial resources to honor their commitments to our mortgage subsidiary. Mortgage loans are sold to investors with limited recourse provisions derived from industry-standard representations and warranties in the relevant agreements. These representations and warranties primarily involve the absence of misrepresentations by the borrower or other parties, the appropriate underwriting of the loan and in some cases, a required minimum number of payments to be made by the borrower. The Company generally does not retain any other continuing interest related to mortgage loans sold in the secondary market. Information regarding our mortgage commitments, as of the dates indicated, is provided in the table below (amounts in thousands): July 31, 2024 October 31, 2023 Aggregate mortgage loan commitments: IRLCs $ 296,717 $ 354,716 Non-IRLCs 1,765,688 1,818,486 Total $ 2,062,405 $ 2,173,202 Investor commitments to purchase: IRLCs $ 296,717 $ 354,716 Mortgage loans held for sale 127,889 104,703 Total $ 424,606 $ 459,419

Information on Segments

Information on Segments	9 Months Ended
	Jul. 31, 2024
Segment Reporting [Abstract]
Information on Segments	Information on Segments We operate in the following five geographic segments, with current operations generally located in the states listed below: • The North region: Connecticut, Delaware, Illinois, Massachusetts, Michigan, New Jersey, New York and Pennsylvania; • The Mid-Atlantic region: Georgia, Maryland, North Carolina, Tennessee and Virginia; • The South region: Florida, South Carolina and Texas; • The Mountain region: Arizona, Colorado, Idaho, Nevada and Utah; • The Pacific region: California, Oregon and Washington. Our geographic reporting segments are consistent with how our chief operating decision makers are assessing operating performance and allocating capital. Revenues and income (loss) before income taxes for each of our segments, for the periods indicated, were as follows (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Revenues: North $ 375,119 $ 377,744 $ 982,991 $ 1,081,854 Mid-Atlantic 335,721 288,480 975,985 787,184 South 776,262 632,572 1,967,522 1,544,804 Mountain 670,027 726,004 1,726,976 1,880,450 Pacific 566,336 648,447 1,650,015 1,619,085 Total home building 2,723,465 2,673,247 7,303,489 6,913,377 Corporate and other 1,007 1,355 (161) 745 2,724,472 2,674,602 7,303,328 6,914,122 Land sales and other revenues (1) 3,472 13,040 209,950 60,668 Total consolidated $ 2,727,944 $ 2,687,642 $ 7,513,278 $ 6,974,790 Income (loss) before income taxes: North $ 64,615 $ 49,087 $ 149,058 $ 136,643 Mid-Atlantic 73,470 71,132 377,513 158,482 South 161,177 126,861 386,072 268,028 Mountain 113,785 146,757 275,899 368,003 Pacific 145,911 183,371 420,445 419,872 Total home building 558,958 577,208 1,608,987 1,351,028 Corporate and other (55,331) (24,191) (144,420) (113,623) Total consolidated $ 503,627 $ 553,017 $ 1,464,567 $ 1,237,405 (1) Included in the nine months ended July 31, 2024 is a $185.0 million land sale related to our Mid-Atlantic segment, as further discussed in Note 1, “Significant Accounting Policies”. “Corporate and other” is comprised principally of general corporate expenses such as our executive offices; the corporate finance, accounting, audit, tax, human resources, risk management, information technology, marketing, and legal groups; interest income; income from certain of our ancillary businesses, including our apartment rental development business and our high-rise urban luxury condominium operations, and income from our Rental Property Joint Ventures and Gibraltar Joint Ventures. Total assets for each of our segments, as of the dates indicated, are shown in the table below (amounts in thousands): July 31, October 31, North $ 1,533,394 $ 1,281,479 Mid-Atlantic 1,505,684 1,323,381 South 2,627,920 2,399,055 Mountain 3,038,021 2,666,874 Pacific 2,345,041 2,175,776 Total home building 11,050,060 9,846,565 Corporate and other 2,309,651 2,680,453 Total consolidated $ 13,359,711 $ 12,527,018 “Corporate and other” is comprised principally of cash and cash equivalents, restricted cash, investments in our Rental Property Joint Ventures, expected recoveries from insurance carriers and suppliers, our Gibraltar investments and operations, manufacturing facilities, our apartment rental development and high-rise urban luxury condominium operations, and our mortgage and title subsidiaries. The amounts we have provided for inventory impairment charges and the expensing of costs that we believe not to be recoverable, for the periods indicated, which are included in home sales cost of revenues, were as follows (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 North $ 390 $ 158 $ 923 $ 590 Mid-Atlantic 2,690 2,225 5,585 8,545 South 2,289 921 3,016 1,402 Mountain 32 42 25,706 5,659 Pacific 58 18 128 6,241 Total consolidated $ 5,459 $ 3,364 $ 35,358 $ 22,437 We have also recognized $3.8 million of land impairment charges included in land sales and other cost of revenues during the three-month period ended July 31, 2024, which was in our Corporate and other segment. No land impairment charges were recognized in land sales and other costs of revenues in the three-month period ended July 31, 2023. In the nine-month period ended July 31, 2024, we recognized land impairment charges of $4.4 million of which $3.8 million and $0.6 million were in our Corporate and other and Mid-Atlantic segments, respectively. In the nine-month period ended July 31, 2023, we recognized $17.7 million of similar charges of which $2.7 million, $10.3 million, $2.2 million, and $2.5 million were in our North, Mid-Atlantic, Pacific and Corporate and other segments, respectively.

Supplemental Disclosure to Cond

Supplemental Disclosure to Condensed Consolidated Statements of Cash Flows	9 Months Ended
	Jul. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosure to Statements of Cash Flows	Supplemental Disclosure to Condensed Consolidated Statements of Cash Flows The following are supplemental disclosures to the Condensed Consolidated Statements of Cash Flows, for the periods indicated (amounts in thousands): Nine months ended July 31, 2024 2023 Cash flow information: Income tax paid – net $ 397,666 $ 427,153 Noncash activity: Cost of inventory acquired through seller financing, municipal bonds, or included in accrued expenses - net $ 228,660 $ 342,073 Changes in investments in unconsolidated entities due to net increase in accrued liabilities $ 5,626 $ 1,987 Transfer of other assets to property, construction and office equipment - net $ 133,020 $ 13,738 Unrealized loss on derivatives $ (14,816) $ (7,767) At July 31, 2024 2023 Cash, cash equivalents, and restricted cash Cash and cash equivalents $ 893,422 $ 1,033,369 Restricted cash included in receivables, prepaid expenses, and other assets 69,852 49,333 Total cash, cash equivalents, and restricted cash shown on the Condensed Consolidated Statements of Cash Flows $ 963,274 $ 1,082,702

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Pay vs Performance Disclosure
Net income	$ 374,611	$ 414,789	$ 1,095,786	$ 926,535

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jul. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Jul. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our condensed consolidated financial statements include the accounts of Toll Brothers, Inc. (the “Company,” “we,” “us,” or “our”), a Delaware corporation, and its majority owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Investments in 50% or less owned partnerships and affiliates are accounted for using the equity method unless it is determined that we have effective control of the entity, in which case we would consolidate the entity.
Use of Estimates, Policy	Use of Estimates The preparation of financial statements in accordance with GAAP requires estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates and assumptions may prove to be incorrect for a variety of reasons, whether as a result of the risks and uncertainties our business is subject to or for other reasons. In times of economic disruption when uncertainty regarding future economic conditions is heightened, our estimates and assumptions are subject to greater variability. Actual results could differ from the estimates and assumptions we make and such differences may be material.
Revenue Recognition	Revenue Recognition Home sales revenues: Revenues and cost of revenues from home sales are recognized at the time each home is delivered and title and possession are transferred to the buyer. For the majority of our home closings, our performance obligation to deliver a home is satisfied in less than one year from the date a binding sale agreement is signed. In certain states where we build, we are not able to complete certain outdoor features prior to the closing of the home. To the extent these separate performance obligations are not complete upon the home closing, we defer a portion of the home sales revenues related to these obligations and subsequently recognize the revenue upon completion of such obligations. As of July 31, 2024, the home sales revenues and related costs we deferred related to these obligations were immaterial. Our contract liabilities, consisting of deposits received from customers for sold but undelivered homes, totaled $524.0 million and $540.7 million at July 31, 2024 and October 31, 2023, respectively. Of the outstanding customer deposits held as of October 31, 2023, we recognized $120.0 million and $411.2 million in home sales revenues during the three months and nine months ended July 31, 2024, respectively. Of the outstanding customer deposits held as of October 31, 2022, we recognized $150.4 million and $425.5 million in home sales revenues during the three months and nine months ended July 31, 2023, respectively. Land sales and other revenues: Our revenues from land sales and other generally consist of: (1) land sales to joint ventures in which we retain an interest; (2) lot sales to third-party builders within our master-planned communities; (3) bulk lot sales to third parties of land we have decided no longer meets our development criteria; (4) sales of land parcels to third parties (typically because there is a superior economic use of the property); and (5) sales of commercial and retail properties generally located at our high-rise urban luxury condominium projects. In general, our performance obligation for each of these land sales is fulfilled upon the delivery of the land, which generally coincides with the receipt of cash consideration from the counterparty. For land sale transactions that contain repurchase options, revenues and related costs are not recognized until the repurchase option expires. In addition, when we sell land to a joint venture in which we retain an interest, we do not recognize revenue or gains on the sale to the extent of our retained interest in such joint venture. In February 2024, we sold a parcel of land to a commercial developer for net cash proceeds of $180.7 million, which resulted in a pre-tax gain of $175.2 million during the nine months ended July 31, 2024. Forfeited Customer Deposits: Forfeited customer deposits are recognized in “Home sales revenues” in our Condensed Consolidated Statements of Operations and Comprehensive Income in the period in which we determine that the customer will not complete the purchase of the home and we have the right to retain the deposit. Sales Incentives: In order to promote sales of our homes, we may offer our home buyers sales incentives. These incentives vary by type of incentive and by amount on a community-by-community and home-by-home basis. Incentives are reflected as a reduction in home sales revenues. Incentives are recognized at the time the home is delivered to the home buyer and we receive the sales proceeds.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items to reconcile to segment profit or loss, and the title and position of the entity’s CODM. The amendments in this update also expand the interim segment disclosure requirements. ASU 2023-07 will be effective for our fiscal year ending October 31, 2025 and for interim periods starting in our first quarter of fiscal 2026. Early adoption is permitted and the amendments in this update are required to be applied on a retrospective basis. We are currently reviewing the impact that the adoption of ASU 2023-07 may have on our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which requires expanded disclosure of our income tax rate reconciliation and income taxes paid. ASU 2023-09 will be effective for our fiscal year ending October 31, 2026 and may be applied either retrospectively or prospectively. We are currently evaluating ASU 2023-09 and do not expect it to have a material effect on our consolidated financial statements and disclosures. In March 2024, the SEC issued final rules on the enhancement and standardization of climate-related disclosures. The rules require disclosure of material climate-related risks; activities to mitigate or adapt to such risks; governance and management of such risks; and material greenhouse gas (GHG) emissions from operations owned or controlled (Scope 1) and/or indirect emissions from purchased energy consumed in operations (Scope 2). Additionally, the rules require disclosures in the notes to the financial statements of the effects of severe weather events and other natural conditions, subject to certain materiality thresholds. On March 15, 2024, a federal appellate court imposed a temporary stay pending judicial review of these new rules and on April 4, 2024, the SEC voluntarily stayed implementation pending completion of the judicial review. We are currently evaluating the impact of this final rule on our disclosures.
Reclassification	Reclassification Certain prior period amounts have been reclassified to conform to the fiscal 2024 presentation.

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Jul. 31, 2024
Inventory Disclosure [Abstract]
Inventory	Major components of inventory at July 31, 2024 and October 31, 2023 were (amounts in thousands): July 31, October 31, Land deposits and costs of future communities $ 571,400 $ 549,035 Land and land development costs 2,855,478 2,631,147 Land and land development costs associated with homes under construction 3,488,892 2,916,334 Total land and land development costs 6,915,770 6,096,516 Homes under construction 2,784,577 2,515,484 Model homes (1) 497,713 445,578 $ 10,198,060 $ 9,057,578 (1) Includes the allocated land and land development costs associated with each of our model homes in operation. The following table provides a summary of the composition of our inventory based on community status at July 31, 2024 and October 31, 2023 (amounts in thousands): July 31, October 31, Land controlled for future communities $ 204,529 $ 173,175 Land owned for future communities 614,473 663,413 Operating communities 9,379,058 8,220,990 $ 10,198,060 $ 9,057,578
Inventory impairment charges and expensing of costs that it is believed not to be recoverable	The amounts we have provided for inventory impairment charges and the expensing of costs that we believe not to be recoverable, and which are included in home sales cost of revenues, are shown in the table below (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Land controlled for future communities $ 1,759 $ 895 $ 4,518 $ 9,343 Land owned for future communities — 369 — 694 Operating communities 3,700 2,100 30,840 12,400 $ 5,459 $ 3,364 $ 35,358 $ 22,437
Interest incurred, capitalized and expensed	Interest incurred, capitalized, and expensed, for the periods indicated, were as follows (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Interest capitalized, beginning of period $ 193,478 $ 211,760 $ 190,550 $ 209,468 Interest incurred 33,579 32,624 100,018 107,341 Interest expensed to home sales cost of revenues (32,803) (37,004) (91,121) (99,642) Interest expensed to land sales and other cost of revenues (802) (1,258) (1,821) (6,086) Interest capitalized on investments in unconsolidated entities (2,027) (2,271) (6,734) (7,432) Previously capitalized interest transferred to investments in unconsolidated entities — — — (244) Previously capitalized interest on investments in unconsolidated entities transferred to inventory 296 296 829 742 Interest capitalized, end of period $ 191,721 $ 204,147 $ 191,721 $ 204,147

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Tables)	9 Months Ended
	Jul. 31, 2024
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Summary of Joint Venture Information	The table below provides information as of July 31, 2024, regarding active joint ventures that we were invested in, by joint venture category ($ amounts in thousands): Land Home Building Rental Property Gibraltar Total Number of unconsolidated entities 15 2 42 2 61 Investment in unconsolidated entities (1) $ 373,025 $ 59,259 $ 539,587 $ 11,721 $ 983,592 Number of unconsolidated entities with funding commitments by the Company 6 — 24 1 31 Company’s remaining funding commitment to unconsolidated entities (2) $ 157,809 $ — $ 85,678 $ 4,132 $ 247,619 (1) Our total investment includes $147.9 million related to nine unconsolidated joint venture-related variable interests in VIEs and our maximum exposure to losses related to these VIEs is approximately $366.7 million as of July 31, 2024, inclusive of our investment in these joint ventures. Our ownership interest in such unconsolidated Joint Venture VIEs ranges from 25% to 50% . (2) Our remaining funding commitment includes approximately $116.5 million related to our unconsolidated joint venture-related variable interests in VIEs. The table below provides information as of October 31, 2023, regarding active joint ventures that we were invested in, by joint venture category ($ amounts in thousands): Land Home Building Rental Property Gibraltar Total Number of unconsolidated entities 16 2 43 3 64 Investment in unconsolidated entities (1) $ 351,154 $ 65,285 $ 531,823 $ 10,779 $ 959,041 Number of unconsolidated entities with funding commitments by the Company 9 — 19 1 29 Company’s remaining funding commitment to unconsolidated entities (2) $ 204,438 $ — $ 184,266 $ 12,066 $ 400,770 (1) Our total investment includes $121.6 million related to 11 unconsolidated joint venture-related variable interests in VIEs and our maximum exposure to losses related to these VIEs is approximately $329.3 million as of October 31, 2023, inclusive of our investment in joint ventures. Our ownership interest in such unconsolidated Joint Venture VIEs ranges from 25% to 50% . (2) Our remaining funding commitment includes approximately $105.4 million related to our unconsolidated joint venture-related variable interests in VIEs.
Summary of Joint Ventures Borrowing information	Certain joint ventures in which we have investments obtained debt financing to finance a portion of their activities. The table below provides information at July 31, 2024, regarding the debt financing obtained by category ($ amounts in thousands): Land Home Building Rental Property Total Number of joint ventures with debt financing 9 1 39 49 Aggregate loan commitments $ 539,589 $ 98,150 $ 3,603,148 $ 4,240,887 Amounts borrowed under loan commitments $ 384,172 $ 77,141 $ 2,655,333 $ 3,116,646 The table below provides information at October 31, 2023, regarding the debt financing obtained by category ($ amounts in thousands): Land Home Building Rental Property Total Number of joint ventures with debt financing 12 2 42 56 Aggregate loan commitments $ 610,758 $ 219,650 $ 3,731,847 $ 4,562,255 Amounts borrowed under loan commitments $ 445,506 $ 135,723 $ 2,152,872 $ 2,734,101
New joint venture formations	There were no new joint ventures entered into during the nine-months ended July 31, 2024. The table below provides information on joint ventures entered into during the nine-months ended July 31, 2023 ($ amounts in thousands): Land Development Joint Ventures Home Building Rental Property Joint Ventures Number of unconsolidated joint ventures entered into during the period 1 $ — 3 Investment balance at July 31, 2023 $ 12,808 $ — $ 7,096 Number of consolidated joint ventures entered into during the period — 1 1 Carrying value of consolidated joint ventures’ assets at July 31, 2023 $ — $ 5,000 $ 10,604 Noncontrolling interests in consolidated joint ventures at July 31, 2023 $ — $ 835 $ 2,651
Summary of Unconsolidated Entities Debt Obligations, Loan Commitments and Guarantees	Information with respect to certain of the Company’s unconsolidated entities’ outstanding debt obligations, loan commitments and our guarantees thereon are as follows ($ amounts in thousands): July 31, 2024 October 31, 2023 Loan commitments in the aggregate $ 3,099,500 $ 3,341,700 Our maximum estimated exposure under repayment and carry cost guarantees if the full amount of the debt obligations were borrowed (1) $ 665,500 $ 688,000 Debt obligations borrowed in the aggregate $ 2,118,100 $ 1,643,600 Our maximum estimated exposure under repayment and carry cost guarantees of the debt obligations borrowed $ 569,500 $ 544,100 Estimated fair value of guarantees provided by us related to debt and other obligations $ 18,000 $ 19,500 Terms of guarantees 1 month - 3.3 years 1 month - 4.0 years (1) At July 31, 2024 and October 31, 2023, our maximum estimated exposure under repayment and carry cost guarantees includes approximately $102.3 million related to our unconsolidated joint venture VIEs.
Consolidated Joint Venture Related Variable Interest Entities	The table below provides information as of July 31, 2024 and October 31, 2023, regarding our consolidated joint venture-related variable interests in VIEs ($ amounts in thousands): Balance Sheet Classification July 31, October 31, Number of Joint Venture VIEs that the Company is the primary beneficiary and consolidates 5 5 Carrying value of consolidated VIEs assets Receivables, prepaid expenses and other assets and Investments in unconsolidated entities $ 104,600 $ 89,600 Our partners’ interests in consolidated VIEs Noncontrolling interest $ 10,200 $ 10,200 Our ownership interest in the above consolidated Joint Venture VIEs ranges from 75% to 98%.
Condensed balance sheet	Condensed Combined Balance Sheets: July 31, October 31, Cash and cash equivalents $ 217,515 $ 161,274 Inventory 1,266,323 1,425,145 Loans receivable – net 26,355 17,024 Rental properties 2,827,765 1,907,604 Rental properties under development 1,565,392 1,804,664 Other assets 473,781 385,197 Total assets $ 6,377,131 $ 5,700,908 Debt – net of deferred financing costs $ 3,120,781 $ 2,711,986 Other liabilities 480,102 498,866 Partners’ equity 2,776,248 2,490,056 Total liabilities and equity $ 6,377,131 $ 5,700,908 Company’s net investment in unconsolidated entities (1) $ 983,592 $ 959,041 (1) Our underlying equity in the net assets of the unconsolidated entities was less than our net investment in unconsolidated entities by $9.7 million and $40.9 million as of July 31, 2024 and October 31, 2023, respectively, and these differences are primarily a result of interest capitalized on our investments; the estimated fair value of the guarantees provided to the joint ventures; distributions from entities in excess of the carrying amount of our net investment; unrealized gains on our retained joint venture interests; other than temporary impairments we have recognized; and gains recognized from the sale of our ownership interests.
Condensed statements of operations and comprehensive income	Condensed Combined Statements of Operations: Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Revenues $ 286,981 $ 186,669 $ 571,512 $ 429,647 Cost of revenues 199,012 124,414 365,813 266,593 Other expenses 71,271 67,195 210,670 187,336 Total expenses 270,283 191,609 576,483 453,929 Income (loss) from operations 16,698 (4,940) (4,971) (24,282) Other income (2) 45,543 79,857 155,452 76,251 Income before income taxes 62,241 74,917 150,481 51,969 Income tax expense 4,468 1,195 2,119 1,030 Net income 57,773 73,722 148,362 50,939 Company’s (loss) income from unconsolidated entities (3) $ (10,514) $ 30,548 $ (13,799) $ 20,813 (2) The nine months ended July 31, 2024 includes $112.7 million related to the gain on the sale of assets by one of our Rental Property Joint Ventures. The three and nine months ended July 31, 2023 includes gains of $78.8 million related to the sale of assets by one of our Rental Property Joint Ventures. (3) Differences between our loss from unconsolidated entities and our percentage interest in the underlying net income (loss) of the entities are generally a result of distributions from entities in excess of the carrying amount of our investment; promote earned on the gains recognized by joint ventures and those promoted cash flows being distributed; other than temporary impairments we have recognized; recoveries of previously incurred charges; unrealized gains on our retained joint venture interests; gains recognized from the sale of our investment to our joint venture partner; our share of the entities’ profits related to home sites purchased by us which reduces our cost basis of the home sites acquired; and amortization of other basis differences.

Receivables, Prepaid Expenses_2

Receivables, Prepaid Expenses, and Other Assets (Tables)	9 Months Ended
	Jul. 31, 2024
Receivables, prepaid expenses and other assets [Abstract]
Receivables, Prepaid Expenses, and Other Assets [Table Text Block]	Receivables, prepaid expenses, and other assets at July 31, 2024 and October 31, 2023, consisted of the following (amounts in thousands): July 31, 2024 October 31, 2023 Expected recoveries from insurance carriers and others $ 85,692 $ 94,987 Improvement cost receivable 41,281 40,992 Escrow cash held by our wholly owned captive title company 68,210 44,273 Properties held for rental apartment and commercial development 116,146 225,261 Prepaid expenses 36,672 43,763 Right-of-use asset 107,005 102,787 Derivative assets 20,431 41,612 Other 102,556 97,581 $ 577,993 $ 691,256

Loans Payable, Senior Notes a_2

Loans Payable, Senior Notes and Mortgage Company Loan Facility Loans Payable (Tables)	9 Months Ended
	Jul. 31, 2024
Debt Disclosure [Abstract]
Loans Payable [Text Block]	At July 31, 2024 and October 31, 2023, loans payable consisted of the following (amounts in thousands): July 31, October 31, Senior unsecured term loan $ 650,000 $ 650,000 Loans payable – other 452,201 517,378 Deferred issuance costs (2,414) (3,154) $ 1,099,787 $ 1,164,224

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Jul. 31, 2024
Payables and Accruals [Abstract]
Accrued expenses	Accrued expenses at July 31, 2024 and October 31, 2023 consisted of the following (amounts in thousands): July 31, October 31, Land, land development, and construction $ 341,866 $ 286,516 Liabilities related to consolidated inventory not owned 440,276 268,630 Compensation and employee benefits 193,924 212,684 Escrow liability associated with our wholly owned captive title company 66,199 42,451 Self-insurance 222,567 230,688 Warranty 210,980 206,171 Lease liabilities 127,423 123,866 Deferred income 52,650 52,907 Interest 30,368 30,044 Commitments to unconsolidated entities 38,069 29,212 Other 53,231 65,612 $ 1,777,553 $ 1,548,781
Changes in the warranty accrual	The table below provides, for the periods indicated, a reconciliation of the changes in our warranty accrual (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Balance, beginning of period $ 206,717 $ 149,395 $ 206,171 $ 164,409 Additions – homes closed during the period 9,748 12,395 24,714 29,666 Change in accruals for homes closed in prior years – net 6,132 3,995 18,277 6,018 Charges incurred (11,617) (20,334) (38,182) (54,642) Balance, end of period $ 210,980 $ 145,451 $ 210,980 $ 145,451

Stock-Based Benefit Plans (Tabl

Stock-Based Benefit Plans (Tables)	9 Months Ended
	Jul. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense and income tax benefit recognized	Information regarding the amount of total stock-based compensation expense and tax benefit recognized by us, for the periods indicated, is as follows (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Total stock-based compensation expense recognized $ 3,812 $ 4,265 $ 25,951 $ 21,290 Income tax benefit recognized $ 986 $ 1,076 $ 6,662 $ 5,380

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Jul. 31, 2024
Stock Repurchase Program [Abstract]
Stock repurchase program	The table below provides, for the periods indicated, information about our share repurchase programs: Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Number of shares purchased (in thousands) 2,073 1,931 3,576 3,561 Average price per share (1) $ 118.57 $ 76.26 $ 119.42 $ 67.53 Remaining authorization at July 31 (in thousands) 16,424 11,016 16,424 11,016 (1) Average price per share includes costs associated with the purchases, including the excise tax accrued on our share repurchases as a result of the Inflation Reduction Act of 2022, as applicable.
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income The changes in each component of accumulated other comprehensive income (“AOCI”), for the periods indicated, were as follows (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Employee Retirement Plans Beginning balance $ 2,911 $ 2,510 $ 3,080 $ 2,475 (Gains) losses reclassified from AOCI to net income (1) (115) 23 (342) 70 Less: Tax expense (benefit) (2) 29 (6) 87 (18) Net (gains) losses reclassified from AOCI to net income (86) 17 (255) 52 Other comprehensive (loss) income – net of tax (86) 17 (255) 52 Ending balance $ 2,825 $ 2,527 $ 2,825 $ 2,527 Derivative Instruments Beginning balance $ 36,916 $ 31,365 $ 37,830 $ 35,143 (Losses) gains on derivative instruments (2,151) 8,900 659 5,191 Less: Tax benefit (expense) 553 (2,250) (506) (1,302) Net (losses) gains on derivative instruments (1,598) 6,650 153 3,889 Gains reclassified from AOCI to net income (3) (2,832) (1,427) (6,871) (2,789) Less: Tax expense (2) 727 361 2,101 706 Net gains reclassified from AOCI to net income (2,105) (1,066) (4,770) (2,083) Other comprehensive (loss) income – net of tax (3,703) 5,584 (4,617) 1,806 Ending balance $ 33,213 $ 36,949 $ 33,213 $ 36,949 Total AOCI ending balance $ 36,038 $ 39,476 $ 36,038 $ 39,476 (1) Reclassified to “Other income – net” (2) Reclassified to “Income tax provision” (3) Reclassified to “Cost of revenues – home sales”

Earnings Per Share Information

Earnings Per Share Information (Tables)	9 Months Ended
	Jul. 31, 2024
Earnings Per Share [Abstract]
Income per share calculation	The table below provides, for the periods indicated, information pertaining to the calculation of earnings per share, common stock equivalents, weighted-average number of antidilutive options and restricted stock units, and shares issued (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Numerator: Net income as reported $ 374,611 $ 414,789 $ 1,095,786 $ 926,535 Denominator: Basic weighted-average shares 102,980 110,003 104,299 110,871 Common stock equivalents (1) 1,034 1,120 1,062 1,010 Diluted weighted-average shares 104,014 111,123 105,361 111,881 Other information: Weighted-average number of antidilutive options and restricted stock units (2) 9 121 51 395 Shares issued under stock incentive and employee stock purchase plans 50 548 725 1,984 (1) Common stock equivalents represent the dilutive effect of outstanding in-the-money stock options using the treasury stock method and shares expected to be issued upon the conversion of restricted stock units under our equity award programs. (2) Weighted-average number of antidilutive options and restricted stock units are based upon the average closing price of our common stock on the New York Stock Exchange for the period.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
	Jul. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Summary of assets and (liabilities), measured at fair value on a recurring basis	The table below provides, as of the dates indicated, a summary of assets/(liabilities) related to our financial instruments, measured at fair value on a recurring basis (amounts in thousands): Fair value Financial Instrument Fair value July 31, 2024 October 31, 2023 Mortgage Loans Held for Sale Level 2 $ 137,627 $ 110,555 Forward Loan Commitments — Mortgage Loans Held for Sale Level 2 $ (57) $ 2,234 Interest Rate Lock Commitments (“IRLCs”) Level 2 $ 5 $ (4,135) Forward Loan Commitments — IRLCs Level 2 $ (5) $ 4,135 Interest Rate Swap Contracts Level 2 $ 20,426 $ 35,243
Aggregate unpaid principal and fair value of mortgage loans held for sale	The table below provides, as of the dates indicated, the aggregate unpaid principal and fair value of mortgage loans held for sale (amounts in thousands): Aggregate unpaid Fair value Fair value At July 31, 2024 $ 138,044 $ 137,627 $ (417) At October 31, 2023 $ 114,835 $ 110,555 $ (4,280)
Book value and estimated fair value of the Company's debt	The table below provides, as of the dates indicated, the book value, excluding any bond discounts, premiums, and deferred issuance costs, and estimated fair value of our debt (amounts in thousands): July 31, 2024 October 31, 2023 Fair value Book value Estimated Book value Estimated Loans payable (1) Level 2 $ 1,102,201 $ 1,082,633 $ 1,167,378 $ 1,150,704 Senior notes (2) Level 1 1,600,000 1,566,910 1,600,000 1,481,220 Mortgage company loan facility (3) Level 2 125,417 125,417 100,058 100,058 $ 2,827,618 $ 2,774,960 $ 2,867,436 $ 2,731,982 (1) The estimated fair value of loans payable was based upon contractual cash flows discounted at interest rates that we believed were available to us for loans with similar terms and remaining maturities as of the applicable valuation date. (2) The estimated fair value of our senior notes is based upon their market prices as of the applicable valuation date. (3) We believe that the carrying value of our mortgage company loan borrowings approximates their fair value.

Other Income - Net (Tables)

Other Income - Net (Tables)	9 Months Ended
	Jul. 31, 2024
Other Income and Expenses [Abstract]
Other Income - net	The table below provides the significant components of other income – net (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Interest income $ 9,033 $ 8,109 $ 28,508 $ 22,187 Income (loss) from ancillary businesses 5,405 (1,451) 11,152 (1,543) Management fee income earned by home building operations 985 839 3,291 2,901 Gain on litigation settlements – net — — — 27,683 Other 1,527 (139) 6,283 (775) Total other income – net $ 16,950 $ 7,358 $ 49,234 $ 50,453
Revenues and expenses of non-core ancillary businesses	The table below provides, for the periods indicated, revenues and expenses for our ancillary businesses (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Revenues $ 43,850 $ 36,057 $ 115,309 $ 97,238 Expenses $ 38,445 $ 37,508 $ 104,157 $ 98,781

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Jul. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Company land purchase commitments	Information regarding our land purchase contracts, as of the dates indicated, is provided in the table below (amounts in thousands): July 31, 2024 October 31, 2023 Aggregate purchase price: Unrelated parties $ 5,239,397 $ 4,191,160 Unconsolidated entities that the Company has investments in 35,731 31,477 Total $ 5,275,128 $ 4,222,637 Deposits against aggregate purchase price $ 506,304 $ 449,925 Additional cash required to acquire land 4,768,824 3,772,712 Total $ 5,275,128 $ 4,222,637 Amount of additional cash required to acquire land included in accrued expenses $ 433,755 $ 254,030
Company mortgage commitments	Information regarding our mortgage commitments, as of the dates indicated, is provided in the table below (amounts in thousands): July 31, 2024 October 31, 2023 Aggregate mortgage loan commitments: IRLCs $ 296,717 $ 354,716 Non-IRLCs 1,765,688 1,818,486 Total $ 2,062,405 $ 2,173,202 Investor commitments to purchase: IRLCs $ 296,717 $ 354,716 Mortgage loans held for sale 127,889 104,703 Total $ 424,606 $ 459,419

Information on Segments (Tables

Information on Segments (Tables)	9 Months Ended
	Jul. 31, 2024
Segment Reporting [Abstract]
Revenue and income (loss) before income taxes and total assets	Revenues and income (loss) before income taxes for each of our segments, for the periods indicated, were as follows (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 Revenues: North $ 375,119 $ 377,744 $ 982,991 $ 1,081,854 Mid-Atlantic 335,721 288,480 975,985 787,184 South 776,262 632,572 1,967,522 1,544,804 Mountain 670,027 726,004 1,726,976 1,880,450 Pacific 566,336 648,447 1,650,015 1,619,085 Total home building 2,723,465 2,673,247 7,303,489 6,913,377 Corporate and other 1,007 1,355 (161) 745 2,724,472 2,674,602 7,303,328 6,914,122 Land sales and other revenues (1) 3,472 13,040 209,950 60,668 Total consolidated $ 2,727,944 $ 2,687,642 $ 7,513,278 $ 6,974,790 Income (loss) before income taxes: North $ 64,615 $ 49,087 $ 149,058 $ 136,643 Mid-Atlantic 73,470 71,132 377,513 158,482 South 161,177 126,861 386,072 268,028 Mountain 113,785 146,757 275,899 368,003 Pacific 145,911 183,371 420,445 419,872 Total home building 558,958 577,208 1,608,987 1,351,028 Corporate and other (55,331) (24,191) (144,420) (113,623) Total consolidated $ 503,627 $ 553,017 $ 1,464,567 $ 1,237,405 (1) Included in the nine months ended July 31, 2024 is a $185.0 million land sale related to our Mid-Atlantic segment, as further discussed in Note 1, “Significant Accounting Policies”. “Corporate and other” is comprised principally of general corporate expenses such as our executive offices; the corporate finance, accounting, audit, tax, human resources, risk management, information technology, marketing, and legal groups; interest income; income from certain of our ancillary businesses, including our apartment rental development business and our high-rise urban luxury condominium operations, and income from our Rental Property Joint Ventures and Gibraltar Joint Ventures. Total assets for each of our segments, as of the dates indicated, are shown in the table below (amounts in thousands): July 31, October 31, North $ 1,533,394 $ 1,281,479 Mid-Atlantic 1,505,684 1,323,381 South 2,627,920 2,399,055 Mountain 3,038,021 2,666,874 Pacific 2,345,041 2,175,776 Total home building 11,050,060 9,846,565 Corporate and other 2,309,651 2,680,453 Total consolidated $ 13,359,711 $ 12,527,018
Schedule of inventory impairments by segment	The amounts we have provided for inventory impairment charges and the expensing of costs that we believe not to be recoverable, for the periods indicated, which are included in home sales cost of revenues, were as follows (amounts in thousands): Three months ended July 31, Nine months ended July 31, 2024 2023 2024 2023 North $ 390 $ 158 $ 923 $ 590 Mid-Atlantic 2,690 2,225 5,585 8,545 South 2,289 921 3,016 1,402 Mountain 32 42 25,706 5,659 Pacific 58 18 128 6,241 Total consolidated $ 5,459 $ 3,364 $ 35,358 $ 22,437 We have also recognized $3.8 million of land impairment charges included in land sales and other cost of revenues during the three-month period ended July 31, 2024, which was in our Corporate and other segment. No land impairment charges were recognized in land sales and other costs of revenues in the three-month period ended July 31, 2023. In the nine-month period ended July 31, 2024, we recognized land impairment charges of $4.4 million of which $3.8 million and $0.6 million were in our Corporate and other and Mid-Atlantic segments, respectively. In the nine-month period ended July 31, 2023, we recognized $17.7 million of similar charges of which $2.7 million, $10.3 million, $2.2 million, and $2.5 million were in our North, Mid-Atlantic, Pacific and Corporate and other segments, respectively.

Supplemental Disclosure to Co_2

Supplemental Disclosure to Condensed Consolidated Statements of Cash Flows (Tables)	9 Months Ended
	Jul. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental disclosures to the statements of cash flows	The following are supplemental disclosures to the Condensed Consolidated Statements of Cash Flows, for the periods indicated (amounts in thousands): Nine months ended July 31, 2024 2023 Cash flow information: Income tax paid – net $ 397,666 $ 427,153 Noncash activity: Cost of inventory acquired through seller financing, municipal bonds, or included in accrued expenses - net $ 228,660 $ 342,073 Changes in investments in unconsolidated entities due to net increase in accrued liabilities $ 5,626 $ 1,987 Transfer of other assets to property, construction and office equipment - net $ 133,020 $ 13,738 Unrealized loss on derivatives $ (14,816) $ (7,767) At July 31, 2024 2023 Cash, cash equivalents, and restricted cash Cash and cash equivalents $ 893,422 $ 1,033,369 Restricted cash included in receivables, prepaid expenses, and other assets 69,852 49,333 Total cash, cash equivalents, and restricted cash shown on the Condensed Consolidated Statements of Cash Flows $ 963,274 $ 1,082,702

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Oct. 31, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract liabilities consisting of customer deposits		$ 523,982		$ 523,982		$ 540,718
Revenues		2,727,944	$ 2,687,642	7,513,278	$ 6,974,790
Gain on disposition of assets				5,042	0
Home Building [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract liabilities, revenue recognized		120,000	150,400	411,200	425,500
Revenues		2,724,472	2,674,602	7,303,328	6,914,122
Land [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	$ 180,700	$ 3,472	$ 13,040	209,950	$ 60,668
Gain on disposition of assets				$ 175,200

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023
Total Inventory
Inventory, Real Estate, Land and Land Development Costs	$ 6,915,770	$ 6,096,516
Inventory, Homes under Construction	2,784,577	2,515,484
Model homes	497,713	445,578
Inventory	10,198,060	9,057,578
Land controlled for future communities [Member]
Total Inventory
Land deposits and costs of future development	571,400	549,035
Inventory	204,529	173,175
Land Owned for Future Communities [Member]
Total Inventory
Inventory, Real Estate, Land and Land Development Costs	2,855,478	2,631,147
Inventory	614,473	663,413
Operating communities [Member]
Total Inventory
Inventory, Real Estate, Land and Land Development Costs	3,488,892	2,916,334
Inventory	$ 9,379,058	$ 8,220,990

Inventory (Details 1)

Inventory (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Schedule of inventory [Line Items]
Inventory Write-down	$ 5,459	$ 3,364	$ 35,358	$ 22,437
Land and Land Improvements
Schedule of inventory [Line Items]
Inventory Write-down		0	4,400	17,700
Land and Land Improvements | North [Member]
Schedule of inventory [Line Items]
Inventory Write-down				2,700
Land controlled for future communities [Member]
Schedule of inventory [Line Items]
Inventory Write-down	1,759	895	4,518	9,343
Land Owned for Future Communities [Member]
Schedule of inventory [Line Items]
Inventory Write-down	0	369	0	694
Operating communities [Member]
Schedule of inventory [Line Items]
Inventory Write-down	$ 3,700	$ 2,100	$ 30,840	$ 12,400

Inventory (Details 2)

Inventory (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest capitalized, beginning of period	$ 193,478	$ 211,760	$ 190,550	$ 209,468
Interest incurred	33,579	32,624	100,018	107,341
Interest capitalized on investments in unconsolidated entities	(2,027)	(2,271)	(6,734)	(7,432)
Real Estate Inventory Capitalized Interest Transferred to Unconsolidated Entities	0	0	0	(244)
Previously capitalized interest on investments in unconsolidated entities transferred to inventory	296	296	829	742
Interest capitalized, end of period	191,721	204,147	191,721	204,147
Home Building [Member]
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest expensed to cost of revenues	(32,803)	(37,004)	(91,121)	(99,642)
Land [Member]
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest expensed to cost of revenues	$ (802)	$ (1,258)	$ (1,821)	$ (6,086)

Inventory (Details Textual)

Inventory (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024 USD ($)	Jul. 31, 2023 USD ($)	Jul. 31, 2024 USD ($)	Jul. 31, 2023 USD ($)	Oct. 31, 2023 USD ($)
Variable Interest Entity [Line Items]
Purchase obligation	$ 5,275,128		$ 5,275,128		$ 4,222,637
Home Building [Member]
Real estate inventory capitalized interest costs [Line Items]
Interest expensed to cost of revenues	$ 32,803	$ 37,004	$ 91,121	$ 99,642
VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember [Member]
Variable Interest Entity [Line Items]
Number of VIE Land Purchase Contracts (in ones)	260		260		251
Land Purchase Commitment To Unrelated Party [Member]
Variable Interest Entity [Line Items]
Purchase obligation	$ 5,239,397		$ 5,239,397		$ 4,191,160
Land Purchase Commitment To Unrelated Party [Member] | VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember [Member]
Variable Interest Entity [Line Items]
Purchase obligation	4,790,000		4,790,000		3,790,000
Land Parcel Purchase Commitment [Member]
Variable Interest Entity [Line Items]
Deposits against aggregate purchase commitments	506,304		506,304		449,925
Land Parcel Purchase Commitment [Member] | VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember [Member]
Variable Interest Entity [Line Items]
Deposits against aggregate purchase commitments	$ 468,000		$ 468,000		$ 421,400

Investments in Unconsolidated_3

Investments in Unconsolidated Entities (Details 1) $ in Thousands	Jul. 31, 2024 USD ($) joint_ventures	Oct. 31, 2023 USD ($) joint_ventures
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_ventures	61	64
Investment in unconsolidated entities (1)	$ 983,592	$ 959,041
Number of joint venture with funding commitments | joint_ventures	31	29
Other commitment	$ 247,619	$ 400,770
Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_ventures	15	16
Investment in unconsolidated entities (1)	$ 373,025	$ 351,154
Number of joint venture with funding commitments | joint_ventures	6	9
Home Building Joint Ventures, Total [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_ventures	2	2
Investment in unconsolidated entities (1)	$ 59,259	$ 65,285
Number of joint venture with funding commitments | joint_ventures	0	0
Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_ventures	42	43
Investment in unconsolidated entities (1)	$ 539,587	$ 531,823
Number of joint venture with funding commitments | joint_ventures	24	19
Gibraltar Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_ventures	2	3
Investment in unconsolidated entities (1)	$ 11,721	$ 10,779
Number of joint venture with funding commitments | joint_ventures	1	1
Variable Interest Entity, Not Primary Beneficiary [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_ventures	9	11
Investment in unconsolidated entities (1)	$ 147,900	$ 121,600
Other commitment	$ 116,500	$ 105,400
Variable Interest Entity, Not Primary Beneficiary [Member] | Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest	25%	25%
Variable Interest Entity, Not Primary Beneficiary [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest	50%	50%
Commitment To Advance Or Invest In Affiliates Subsidiaries And Joint Venture [Member] | Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Other commitment	$ 157,809	$ 204,438
Commitment To Advance Or Invest In Affiliates Subsidiaries And Joint Venture [Member] | Home Building Joint Ventures, Total [Member]
Schedule of Equity Method Investments [Line Items]
Other commitment	0	0
Commitment To Advance Or Invest In Affiliates Subsidiaries And Joint Venture [Member] | Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Other commitment	85,678	184,266
Commitment To Advance Or Invest In Affiliates Subsidiaries And Joint Venture [Member] | Gibraltar Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Other commitment	4,132	12,066
Commitment To Advance Or Invest In Affiliates Subsidiaries And Joint Venture [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Schedule of Equity Method Investments [Line Items]
Other commitment	$ 366,700	$ 329,300

Investments in Unconsolidated_4

Investments in Unconsolidated Entities (Details 2) $ in Thousands	Jul. 31, 2024 USD ($) joint_ventures	Oct. 31, 2023 USD ($) joint_ventures
Schedule of Equity Method Investments [Line Items]
Number of joint ventures with loan commitments | joint_ventures	49	56
Line of credit facility, maximum borrowing capacity	$ 4,240,887	$ 4,562,255
Amounts borrowed under commitments	$ 3,116,646	$ 2,734,101
Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures with loan commitments | joint_ventures	9	12
Line of credit facility, maximum borrowing capacity	$ 539,589	$ 610,758
Amounts borrowed under commitments	$ 384,172	$ 445,506
Home Building Joint Ventures, Total [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures with loan commitments | joint_ventures	1	2
Line of credit facility, maximum borrowing capacity	$ 98,150	$ 219,650
Amounts borrowed under commitments	$ 77,141	$ 135,723
Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures with loan commitments | joint_ventures	39	42
Line of credit facility, maximum borrowing capacity	$ 3,603,148	$ 3,731,847
Amounts borrowed under commitments	$ 2,655,333	$ 2,152,872

Investments in Unconsolidated_5

Investments in Unconsolidated Entities (Details 3) $ in Thousands	3 Months Ended	9 Months Ended
	Jul. 31, 2023 USD ($) joint_ventures	Jul. 31, 2024 USD ($) joint_ventures	Jul. 31, 2023 USD ($) joint_ventures	Oct. 31, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)		$ 983,592		$ 959,041
Total assets		13,359,711		12,527,018
Variable Interest Entity, Primary Beneficiary [Member]
Schedule of Equity Method Investments [Line Items]
Noncontrolling Interest in Variable Interest Entity		10,200		10,200
Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)		373,025		351,154
Home Building Joint Ventures, Total [Member]
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)		59,259		65,285
Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)		539,587		531,823
Gibraltar Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)		$ 11,721		$ 10,779
Newly Formed Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of JVs formed in the period | joint_ventures		0
Newly Formed Joint Ventures [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of JVs formed in the period | joint_ventures	0
Total assets	$ 0		$ 0
Noncontrolling Interest in Variable Interest Entity	0		$ 0
Newly Formed Joint Ventures [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Home Building Joint Ventures, Total [Member]
Schedule of Equity Method Investments [Line Items]
Number of JVs formed in the period | joint_ventures			1
Total assets	5,000		$ 5,000
Noncontrolling Interest in Variable Interest Entity	835		$ 835
Newly Formed Joint Ventures [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Number of JVs formed in the period | joint_ventures			1
Total assets	10,604		$ 10,604
Noncontrolling Interest in Variable Interest Entity	2,651		$ 2,651
Newly Formed Joint Ventures [Member] | Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of JVs formed in the period | joint_ventures			1
Investment in unconsolidated entities (1)	12,808		$ 12,808
Newly Formed Joint Ventures [Member] | Home Building Joint Ventures, Total [Member]
Schedule of Equity Method Investments [Line Items]
Number of JVs formed in the period | joint_ventures			0
Investment in unconsolidated entities (1)	0		$ 0
Newly Formed Joint Ventures [Member] | Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Number of JVs formed in the period | joint_ventures			3
Investment in unconsolidated entities (1)	$ 7,096		$ 7,096

Investments in Unconsolidated_6

Investments in Unconsolidated Entities (Details 4) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jul. 31, 2024	Oct. 31, 2023
Schedule of Equity Method Investments [Line Items]
Line of credit facility, maximum borrowing capacity	$ 4,240,887	$ 4,562,255
Long-term line of credit	3,116,646	2,734,101
Variable Interest Entity, Not Primary Beneficiary [Member]
Schedule of Equity Method Investments [Line Items]
Our maximum estimated exposure under repayment and carry cost guarantees if the full amount of the debt obligations were borrowed (1)	102,300	102,300
Equity Method Investee [Member]
Schedule of Equity Method Investments [Line Items]
Estimated fair value of guarantees provided by us related to debt and other obligations	18,000	19,500
Indirect Guarantee of Indebtedness [Member] | Equity Method Investee [Member]
Schedule of Equity Method Investments [Line Items]
Line of credit facility, maximum borrowing capacity	3,099,500	3,341,700
Our maximum estimated exposure under repayment and carry cost guarantees if the full amount of the debt obligations were borrowed (1)	665,500	688,000
Long-term line of credit	2,118,100	1,643,600
Maximum repapyment and carry cost guarantee obligation for borrowings by JV	$ 569,500	$ 544,100
Indirect Guarantee of Indebtedness [Member] | Equity Method Investee [Member] | Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Guarantor Obligation, Term	1 month	1 month
Indirect Guarantee of Indebtedness [Member] | Equity Method Investee [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Guarantor Obligation, Term	3 years 3 months 18 days	4 years

Investments in Unconsolidated_7

Investments in Unconsolidated Entities (Details 5) $ in Thousands	3 Months Ended	9 Months Ended
	Jul. 31, 2023 USD ($) joint_ventures	Jul. 31, 2024 USD ($) joint_ventures	Jul. 31, 2023 USD ($) joint_ventures	Oct. 31, 2023 USD ($) joint_ventures
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures | joint_ventures		61		64
Investment in unconsolidated entities (1)		$ 983,592		$ 959,041
Other commitment		247,619		400,770
Total assets		$ 13,359,711		$ 12,527,018
Variable Interest Entity, Primary Beneficiary [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures | joint_ventures		5		5
Noncontrolling Interest in Variable Interest Entity		$ 10,200		$ 10,200
Newly Formed Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of JVs formed in the period | joint_ventures		0
Newly Formed Joint Ventures [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Home Building Joint Ventures, Total [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of JVs formed in the period | joint_ventures			1
Total assets	$ 5,000		$ 5,000
Noncontrolling Interest in Variable Interest Entity	$ 835		835
Newly Formed Joint Ventures [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Land Development Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of JVs formed in the period | joint_ventures	0
Total assets	$ 0		0
Noncontrolling Interest in Variable Interest Entity	0		0
Variable Interest Entity, Not Primary Beneficiary [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures | joint_ventures		9		11
Investment in unconsolidated entities (1)		$ 147,900		$ 121,600
Other commitment		116,500		105,400
Variable Interest Entity, Not Primary Beneficiary [Member] | Commitment To Advance Or Invest In Affiliates Subsidiaries And Joint Venture [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Other commitment		$ 366,700		$ 329,300
Rental Joint Ventures, including the Trust [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures | joint_ventures		42		43
Investment in unconsolidated entities (1)		$ 539,587		$ 531,823
Rental Joint Ventures, including the Trust [Member] | Newly Formed Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Investment in unconsolidated entities (1)	7,096		$ 7,096
Number of JVs formed in the period | joint_ventures			3
Rental Joint Ventures, including the Trust [Member] | Commitment To Advance Or Invest In Affiliates Subsidiaries And Joint Venture [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Other commitment		$ 85,678		$ 184,266
Land Development Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures | joint_ventures		15		16
Investment in unconsolidated entities (1)		$ 373,025		$ 351,154
Land Development Joint Ventures [Member] | Newly Formed Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Investment in unconsolidated entities (1)	12,808		$ 12,808
Number of JVs formed in the period | joint_ventures			1
Land Development Joint Ventures [Member] | Commitment To Advance Or Invest In Affiliates Subsidiaries And Joint Venture [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Other commitment		$ 157,809		$ 204,438
Gibraltar Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures | joint_ventures		2		3
Investment in unconsolidated entities (1)		$ 11,721		$ 10,779
Gibraltar Joint Ventures [Member] | Commitment To Advance Or Invest In Affiliates Subsidiaries And Joint Venture [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Other commitment		4,132		12,066
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Investment in unconsolidated entities (1)		983,592		959,041
Total assets		$ 6,377,131		$ 5,700,908
Home Building Joint Ventures, Total [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures | joint_ventures		2		2
Investment in unconsolidated entities (1)		$ 59,259		$ 65,285
Home Building Joint Ventures, Total [Member] | Newly Formed Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Investment in unconsolidated entities (1)	$ 0		$ 0
Number of JVs formed in the period | joint_ventures			0
Home Building Joint Ventures, Total [Member] | Commitment To Advance Or Invest In Affiliates Subsidiaries And Joint Venture [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Other commitment		$ 0		$ 0
Minimum [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Ownership interest		75%		75%
Minimum [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Ownership interest		25%		25%
Maximum [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Ownership interest		98%		98%
Maximum [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Ownership interest		50%		50%

Investments in Unconsolidated_8

Investments in Unconsolidated Entities (Details 6) $ in Thousands	Jul. 31, 2024 USD ($) joint_ventures	Oct. 31, 2023 USD ($) joint_ventures
Statement of Investments in and Advances to Unconsolidated Entities [Line Items]
Number of joint ventures | joint_ventures	61	64
Total assets	$ 13,359,711	$ 12,527,018
Variable Interest Entity, Primary Beneficiary [Member]
Statement of Investments in and Advances to Unconsolidated Entities [Line Items]
Number of joint ventures | joint_ventures	5	5
Noncontrolling Interest in Variable Interest Entity	$ 10,200	$ 10,200
Assets related to consolidated VIEs	$ 104,600	$ 89,600
Variable Interest Entity, Primary Beneficiary [Member] | Minimum [Member]
Statement of Investments in and Advances to Unconsolidated Entities [Line Items]
Ownership interest	75%	75%
Variable Interest Entity, Primary Beneficiary [Member] | Maximum [Member]
Statement of Investments in and Advances to Unconsolidated Entities [Line Items]
Ownership interest	98%	98%

Investments in Unconsolidated_9

Investments in Unconsolidated Entities (Details 7) - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023	Jul. 31, 2023	Oct. 31, 2022
Condensed Balance Sheets:
Cash and cash equivalents	$ 963,274	$ 1,344,341	$ 1,082,702	$ 1,398,550
Inventory	10,198,060	9,057,578
Other Assets	102,556	97,581
Total assets	13,359,711	12,527,018
Stockholders' Equity Attributable to Noncontrolling Interest	16,182	16,046
Total liabilities and stockholders' equity	13,359,711	12,527,018
Investments in unconsolidated entities	983,592	959,041
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity	9,700	40,900
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Condensed Balance Sheets:
Cash and cash equivalents	217,515	161,274
Inventory	1,266,323	1,425,145
Loans Receivable, Net	26,355	17,024
Rental Properties	2,827,765	1,907,604
Rental properties under development	1,565,392	1,804,664
Other Assets	473,781	385,197
Total assets	6,377,131	5,700,908
Debt, net of deferred financing costs	3,120,781	2,711,986
Other Liabilities	480,102	498,866
Members' Equity	2,776,248	2,490,056
Total liabilities and stockholders' equity	6,377,131	5,700,908
Investments in unconsolidated entities	$ 983,592	$ 959,041

Investments in Unconsolidate_10

Investments in Unconsolidated Entities (Details 8) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Condensed Statements of Operations and Comprehensive Income:
Income before income taxes	$ 503,627	$ 553,017	$ 1,464,567	$ 1,237,405
Income Tax Expense (Benefit)	129,016	138,228	368,781	310,870
Net Income (Loss) Attributable to Noncontrolling Interest	227	200	667	446
Net income	374,611	414,789	1,095,786	926,535
Company's (loss) income from unconsolidated entities	(10,514)	30,548	(13,799)	20,813
Rental Joint Ventures, including the Trust [Member]
Condensed Statements of Operations and Comprehensive Income:
Equity Method Investment, Realized Gain (Loss) on Disposal	112,700	78,800	112,700	78,800
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Condensed Statements of Operations and Comprehensive Income:
Revenues	286,981	186,669	571,512	429,647
Cost of Revenue	199,012	124,414	365,813	266,593
Other expenses	71,271	67,195	210,670	187,336
Total expenses	270,283	191,609	576,483	453,929
Income before income taxes	16,698	(4,940)	(4,971)	(24,282)
Other Income	45,543	79,857	155,452	76,251
Net Income Before Noncontrolling Interest	62,241	74,917	150,481	51,969
Income Tax Expense (Benefit)	4,468	1,195	2,119	1,030
Net income (loss)	57,773	73,722	148,362	50,939
Company's (loss) income from unconsolidated entities	$ (10,514)	$ 30,548	$ (13,799)	$ 20,813

Investments in Unconsolidate_11

Investments in Unconsolidated Entities (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Oct. 31, 2023
Schedule of Equity Method Investments [Line Items]
Inventory, Real Estate, Land and Land Development Costs		$ 6,915,770		$ 6,915,770		$ 6,096,516
Line of credit facility, maximum borrowing capacity		4,240,887		4,240,887		4,562,255
Long-term line of credit		3,116,646		3,116,646		2,734,101
Investment in unconsolidated entities (1)		983,592		983,592		959,041
Revenues		2,727,944	$ 2,687,642	7,513,278	$ 6,974,790
Land [Member]
Schedule of Equity Method Investments [Line Items]
Revenues	$ 180,700	3,472	13,040	209,950	60,668
Variable Interest Entity, Not Primary Beneficiary [Member]
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)		147,900		147,900		121,600
Our maximum estimated exposure under repayment and carry cost guarantees if the full amount of the debt obligations were borrowed (1)		102,300		102,300		102,300
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)		983,592		983,592		$ 959,041
Rental Joint Ventures, including Trusts i and II [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Realized Gain (Loss) on Disposal		0	35,000	21,000	35,000
Land sales earnings, net		$ 0	$ 0	$ 0	$ 8,200

Investments in Unconsolidate_12

Investments in Unconsolidated Entities (Details Textual 1) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024 USD ($) joint_ventures	Jul. 31, 2023 USD ($)	Jul. 31, 2024 USD ($) joint_ventures	Jul. 31, 2023 USD ($)	Oct. 31, 2023 USD ($) joint_ventures
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_ventures	61		61		64
Line of credit facility, maximum borrowing capacity	$ 4,240,887		$ 4,240,887		$ 4,562,255
Proceeds from Equity Method Investment, Distribution			31,452	$ 69,107
Long-term line of credit	3,116,646		3,116,646		2,734,101
Total assets	13,359,711		13,359,711		$ 12,527,018
(Loss) income from unconsolidated entities	$ (10,514)	$ 30,548	$ (13,799)	20,813
Co-venturer [Member] | Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	5%		5%
Co-venturer [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50%		50%
Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_ventures	15		15		16
Land Development Joint Ventures [Member] | Equity Method Investee [Member]
Schedule of Equity Method Investments [Line Items]
Revenues	$ 29,800	25,700	$ 91,700	94,800
Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_ventures	42		42		43
Variable Interest Entity, Not Primary Beneficiary [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | joint_ventures	9		9		11
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Revenues	$ 286,981	186,669	$ 571,512	429,647
Total assets	6,377,131		6,377,131		$ 5,700,908
(Loss) income from unconsolidated entities	(10,514)	30,548	(13,799)	20,813
Rental Joint Ventures, including Trusts i and II [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Realized Gain (Loss) on Disposal	0	35,000	21,000	35,000
Land sales earnings, net	0	0	0	8,200
Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Realized Gain (Loss) on Disposal	$ 112,700	$ 78,800	$ 112,700	$ 78,800

Receivables, Prepaid Expenses_3

Receivables, Prepaid Expenses, and Other Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023
Receivables, prepaid expenses and other assets [Abstract]
Expected recoveries from insurance carriers and others	$ 85,692	$ 94,987
Improvement cost receivable	41,281	40,992
Escrow cash held by our wholly owned captive title company	68,210	44,273
Properties held for rental apartment and commercial development	116,146	225,261
Prepaid expenses	36,672	43,763
Right-of-use asset	107,005	102,787
Derivative assets	20,431	41,612
Other Assets	102,556	97,581
Receivables, prepaid expenses and other assets	$ 577,993	$ 691,256
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Receivables, prepaid expenses and other assets	Receivables, prepaid expenses and other assets

Loans Payable, Senior Notes a_3

Loans Payable, Senior Notes and Mortgage Company Loan Facility Loans Payable (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023
Debt Instrument [Line Items]
Other Loans Payable	$ 452,201	$ 517,378
Loans payable	1,099,787	1,164,224
Senior unsecured term loan [Member]
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent	650,000	650,000
Deferred Finance Costs, Net	$ (2,414)	$ (3,154)

Loans Payable, Senior Notes a_4

Loans Payable, Senior Notes and Mortgage Company Loan Facility Term Loan Facility (Details Textual 1) $ in Thousands	9 Months Ended
	Jul. 31, 2024 USD ($)	Oct. 31, 2023 USD ($)	Feb. 14, 2023 USD ($)	Nov. 30, 2020 USD ($) numberOfInterestRateSwaps
Senior unsecured term loan due February 14 2028
Debt Instrument [Line Items]
Repayments of Debt	$ 0
Senior unsecured term loan [Member]
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent	$ 650,000	$ 650,000
Senior unsecured term loan [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent				$ 400,000
Number of Interest Rate Derivatives Held | numberOfInterestRateSwaps				5
Derivative, Fixed Interest Rate				0.369%
Fixed interest rate spread	0.90%
Senior unsecured term loan due November 1 2026
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent	$ 650,000
Debt Instrument, Interest Rate at Period End	6.24%
Senior unsecured term loan due November 1 2026 | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent			$ 60,900
Senior unsecured term loan due November 1 2025 | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent			101,600
Senior unsecured term loan due February 14 2028
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent			$ 487,500
Guarantor Subsidiaries [Member] | Toll Brothers
Debt Instrument [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	100%

Loans Payable, Senior Notes a_5

Loans Payable, Senior Notes and Mortgage Company Loan Facility Credit Facility (Details Textual 2) - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023	Feb. 14, 2023
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 4,240,887	$ 4,562,255
Long-term line of credit	3,116,646	$ 2,734,101
Feb 2023 Revolving Credit Facility Extension Agreement
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 1,955,000
Line of credit facility, additional borrowing capacity amount			$ 3,000,000
Long-term line of credit	0
Letters of Credit Outstanding, Amount	$ 180,900
Debt Instrument, Interest Rate at Period End	6.54%

Loans Payable, Senior Notes a_6

Loans Payable, Senior Notes and Mortgage Company Loan Facility Loans Payable - Other (Details Textual 3)	Jul. 31, 2024
Loans Payable [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	5.61%

Loans Payable, Senior Notes a_7

Loans Payable, Senior Notes and Mortgage Company Loan Facility Senior Notes Payable (Details Textual 4) $ in Thousands		9 Months Ended
	Apr. 17, 2023 USD ($)	Jul. 31, 2024 USD ($) debtissuances	Jul. 31, 2023 USD ($)
Senior Note Payable (Textual) [Abstract]
Number of issuances of senior debt | debtissuances		4
Repayments of Senior Debt		$ 0	$ 400,000
Senior Notes [Member]
Senior Note Payable (Textual) [Abstract]
Debt Instrument, Face Amount		$ 1,600,000
4.375% Senior Notes due 2023
Senior Note Payable (Textual) [Abstract]
Repayments of Senior Debt	$ 400,000
Interest rate on notes			4.375%

Loans Payable, Senior Notes a_8

Loans Payable, Senior Notes and Mortgage Company Loan Facility Mortgage Company Loan Facility (Details Textual 5) - USD ($) $ in Thousands		1 Months Ended
	Dec. 05, 2023	Apr. 30, 2022	Jul. 31, 2024	Oct. 31, 2023
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 4,240,887	$ 4,562,255
Warehouse Agreement Borrowings [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 75,000		75,000
Line of credit facility, maximum borrowing capacity	$ 150,000		$ 150,000
Debt Instrument, Interest Rate, Effective Percentage			7.09%
Bloomsberg Short-Term Bank Yield Index (BSBY) | Warehouse Agreement Borrowings [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.75%
Bloomsberg Short-Term Bank Yield Index (BSBY) | Warehouse Agreement Borrowings [Member] | Interest Rate Floor
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Warehouse Agreement Borrowings [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Warehouse Agreement Borrowings [Member] | Interest Rate Floor
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.50%

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Oct. 31, 2022
Accrued expenses [Line Items]
Land, land development, and construction	$ 341,866		$ 286,516
Compensation and employee benefits	193,924		212,684
Escrow liability associated with our wholly owned captive title company	66,199		42,451
Self-insurance	222,567		230,688
Warranty	210,980	$ 206,717	206,171	$ 145,451	$ 149,395	$ 164,409
Lease Liabilities	$ 127,423		$ 123,866
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses, Total		Accrued expenses, Total
Deferred income	$ 52,650		$ 52,907
Interest	30,368		30,044
Other	53,231		65,612
Accrued expenses, Total	1,777,553		1,548,781
Liabilities related to consolidated inventory not owned	440,276		268,630
Affiliated Entity
Accrued expenses [Line Items]
Commitments to unconsolidated entities	$ 38,069		$ 29,212

Accrued Expenses (Detail Textua

Accrued Expenses (Detail Textuals) - USD ($) $ in Thousands	Jul. 31, 2024	Apr. 30, 2024	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Oct. 31, 2022
Loss Contingencies [Line Items]
Standard and Extended Product Warranty Accrual	$ 210,980	$ 206,717	$ 206,171	$ 145,451	$ 149,395	$ 164,409
Water intrusion related [Member]
Loss Contingencies [Line Items]
Standard and Extended Product Warranty Accrual	$ 39,600		$ 41,100

Accrued Expenses (Details 1)

Accrued Expenses (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Changes in the warranty accrual
Balance, beginning of year	$ 206,717	$ 149,395	$ 206,171	$ 164,409
Additions - homes closed during the period	9,748	12,395	24,714	29,666
Charges incurred	(11,617)	(20,334)	(38,182)	(54,642)
Balance, end of year	210,980	145,451	210,980	145,451
Warranty change, homes closed in prior period, other [Member]
Changes in the warranty accrual
Increase in accruals for homes closed in prior years - net	$ 6,132	$ 3,995	$ 18,277	$ 6,018

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Oct. 31, 2023
Income Taxes (Textual) [Abstract]
Income tax provision	$ 129,016	$ 138,228	$ 368,781	$ 310,870
Effective Income Tax Rate Reconciliation, Percent	25.60%	25%	25.20%	25.10%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent			6.10%		6.20%
Unrecognized Tax Benefits	$ 10,500		$ 10,500

Stock-Based Benefit Plans (Deta

Stock-Based Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense recognized	$ 3,812	$ 4,265	$ 25,951	$ 21,290
Income tax benefit recognized	$ 986	$ 1,076	$ 6,662	$ 5,380

Stock-Based Benefit Plans (De_2

Stock-Based Benefit Plans (Details Textual) - USD ($) $ in Millions	Jul. 31, 2024	Oct. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized value of unvested stock-based compensation awards	$ 25.4	$ 23.2

Stockholders' Equity (Details)

Stockholders' Equity (Details) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Stock Repurchase Program [Abstract]
Number of shares purchased	2,073	1,931	3,576	3,561
Average price per share	$ 118.57	$ 76.26	$ 119.42	$ 67.53
Remaining authorization at July 31:	16,424	11,016	16,424	11,016

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - $ / shares shares in Thousands			3 Months Ended		9 Months Ended
	Mar. 12, 2024	Mar. 09, 2023	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Dec. 13, 2023	Dec. 13, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, dividends, declared and paid (in dollars per share)	$ 0.23	$ 0.21	$ 0.23	$ 0.21	$ 0.67	$ 0.62
2017 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, number of shares authorized to be repurchased (in shares)								20,000
Dec 2023 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, number of shares authorized to be repurchased (in shares)							20,000

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 40,910
(Gains) losses reclassified from AOCI to net income (1)	$ (115)	$ 23	(342)	$ 70
Less: Tax expense (benefit) (2)	29	(6)	87	(18)
Net (gains) losses reclassified from AOCI to net income	(86)	17	(255)	52
Other Comprehensive Income (Loss), Net of Tax	(3,789)	5,601	(4,872)	1,858
Ending balance	36,038	39,476	36,038	39,476
Accumulated other comprehensive income ("AOCI")	36,038	39,476	$ 36,038	39,476
Defined Benefit Plan, Funding Status [Extensible Enumeration]			Defined Benefit Plan, Unfunded Plan [Member]
Defined Benefit Plan, Unfunded Plan [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,911	2,510	$ 3,080	2,475
Other Comprehensive Income (Loss), Net of Tax	(86)	17	(255)	52
Ending balance	2,825	2,527	2,825	2,527
Accumulated other comprehensive income ("AOCI")	2,825	2,527	2,825	2,527
Interest Rate Swap [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	36,916	31,365	37,830	35,143
Other Comprehensive Income (Loss), Net of Tax	(3,703)	5,584	(4,617)	1,806
Ending balance	33,213	36,949	33,213	36,949
(Losses) gains on derivative instruments	(2,151)	8,900	659	5,191
Less: Tax benefit (expense)	553	(2,250)	(506)	(1,302)
Net (losses) gains on derivative instruments	(1,598)	6,650	153	3,889
Gains reclassified from AOCI to net income (3)	(2,832)	(1,427)	(6,871)	(2,789)
Less: Tax expense (2)	727	361	2,101	706
Net gains reclassified from AOCI to net income	(2,105)	(1,066)	(4,770)	(2,083)
Accumulated other comprehensive income ("AOCI")	$ 33,213	$ 36,949	$ 33,213	$ 36,949

Earnings Per Share Informatio_2

Earnings Per Share Information (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Earnings Per Share [Abstract]
Net income as reported	$ 374,611	$ 414,789	$ 1,095,786	$ 926,535
Basic weighted-average shares (in shares)	102,980	110,003	104,299	110,871
Common stock equivalents (in shares)	1,034	1,120	1,062	1,010
Diluted weighted-average shares (in shares)	104,014	111,123	105,361	111,881
Debt Instrument [Line Items]
Shares issued under stock incentive and employee stock purchase plans (in shares)	50	548	725	1,984
Restricted Stock Units RSU And Employee Stock Option Member [Member]
Debt Instrument [Line Items]
Weighted-average number of antidilutive options and restricted stock units (in shares)	9	121	51	395

Fair Value Disclosures (Level 4

Fair Value Disclosures (Level 4 FV of Fin Instr) (Details) - Fair Value, Recurring [Member] - Level 2 [Member] - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023
Forward Contracts [Member] | Residential Mortgage [Member]
Summary of assets and (liabilities), measured at fair value on a recurring basis
Derivative Asset		$ 2,234
Derivative Liability	$ (57)
Interest Rate Swap [Member]
Summary of assets and (liabilities), measured at fair value on a recurring basis
Derivative Asset	20,426	35,243
Assets Held-for-sale [Member] | Residential Mortgage [Member]
Summary of assets and (liabilities), measured at fair value on a recurring basis
Loans Held-for-sale, Fair Value Disclosure	137,627	110,555
Interest Rate Lock Commitments [Member] | Forward Contracts [Member]
Summary of assets and (liabilities), measured at fair value on a recurring basis
Derivative Asset		4,135
Derivative Liability	(5)
Interest Rate Lock Commitments [Member]
Summary of assets and (liabilities), measured at fair value on a recurring basis
Derivative Asset	$ 5
Derivative Liability		$ (4,135)

Fair Value Disclosures (Level_2

Fair Value Disclosures (Level 4 loan UPB vs FV) (Details 1) - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023
Aggregate unpaid principal and fair value of mortgage loans held for sale
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 137,627	$ 110,555
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Assets Held-for-sale [Member] | Residential Mortgage [Member]
Aggregate unpaid principal and fair value of mortgage loans held for sale
Aggregate unpaid principal balance	138,044	114,835
Mortgage Loans on Real Estate, Commercial and Consumer, Net	137,627	110,555
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables	$ (417)	$ (4,280)

Fair Value Disclosures (Level_3

Fair Value Disclosures (Level 4 debt fv) (Details 2) - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023
Book value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 2,827,618	$ 2,867,436
Book value [Member] | Fair Value, Inputs, Level 2 [Member] | Loans Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	1,102,201	1,167,378
Book value [Member] | Fair Value, Inputs, Level 2 [Member] | Warehouse Agreement Borrowings [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	125,417	100,058
Book value [Member] | Fair Value, Inputs, Level 1 [Member] | Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	1,600,000	1,600,000
Estimate fair value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	2,774,960	2,731,982
Estimate fair value [Member] | Fair Value, Inputs, Level 2 [Member] | Loans Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	1,082,633	1,150,704
Estimate fair value [Member] | Fair Value, Inputs, Level 2 [Member] | Warehouse Agreement Borrowings [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	125,417	100,058
Estimate fair value [Member] | Fair Value, Inputs, Level 1 [Member] | Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 1,566,910	$ 1,481,220

Other Income - Net (Details)

Other Income - Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Other Nonoperating Income By Component [Line Items]
Interest income	$ 9,033	$ 8,109	$ 28,508	$ 22,187
Income (loss) from ancillary businesses	5,405	(1,451)	11,152	(1,543)
Management fee income earned by home building operations	2,727,944	2,687,642	7,513,278	6,974,790
Other	1,527	(139)	6,283	(775)
Total other income - net	16,950	7,358	49,234	50,453
Revenues and expenses of non-core ancillary businesses
Revenues	43,850	36,057	115,309	97,238
Expenses	38,445	37,508	104,157	98,781
Other Income
Other Nonoperating Income By Component [Line Items]
Gain (Loss) Related to Litigation Settlement	0	0	0	27,683
Management Fee [Member]
Other Nonoperating Income By Component [Line Items]
Management fee income earned by home building operations	$ 985	$ 839	$ 3,291	$ 2,901

Other Income - Net (Details Tex

Other Income - Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Schedule of Equity Method Investments [Line Items]
Impairment charges and write offs			$ 46,465	$ 40,137
Income from Ancillary Businesses, net	$ 5,405	$ (1,451)	11,152	(1,543)
Security Monitoring Business
Schedule of Equity Method Investments [Line Items]
Gain (Loss) on Disposition of Other Assets	4,400		4,400	0
Apartment Living, City Living and Gibraltar
Schedule of Equity Method Investments [Line Items]
Income from Ancillary Businesses, net	11,000	8,900	28,100	25,700
Apartment living [Member]
Schedule of Equity Method Investments [Line Items]
Impairment charges and write offs	$ 1,800	$ 3,300	$ 6,700	$ 3,800

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023
Company's land purchase commitments
Purchase obligation	$ 5,275,128	$ 4,222,637
Land Purchase Commitment To Unrelated Party [Member]
Company's land purchase commitments
Purchase obligation	5,239,397	4,191,160
Land Purchase Commitment To JV [Member]
Company's land purchase commitments
Purchase obligation	35,731	31,477
Land Parcel Purchase Commitment [Member]
Company's land purchase commitments
Deposits against aggregate purchase commitments	506,304	449,925
Additional cash required to acquire land	4,768,824	3,772,712
Amount of Additional Cash Required to Acquire Land Included in Accrued Expenses	$ 433,755	$ 254,030

Commitments and Contingencies_3

Commitments and Contingencies (Details Textual 1) $ in Thousands	Jul. 31, 2024 USD ($) home_sites	Oct. 31, 2023 USD ($)
Long-term Purchase Commitment [Line Items]
Purchase obligation	$ 5,275,128	$ 4,222,637
Land for Apartment Development Purchase Commitment [Member]
Long-term Purchase Commitment [Line Items]
Purchase obligation	215,400
Deposits against aggregate purchase commitments	$ 11,200
Land Development Joint Ventures [Member] | Commitment To Acquire Home Sites [Member]
Long-term Purchase Commitment [Line Items]
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | home_sites	8,100

Commitments and Contingencies_4

Commitments and Contingencies (Details Textual 2) $ in Thousands	Jul. 31, 2024 USD ($) luxury_homes
Backlog Information [Abstract]
Number of homes to be delivered (in ones) | luxury_homes	6,769
Aggregate sales value of outstanding homes to be delivered	$ 7,070,000
Feb 2023 Revolving Credit Facility Extension Agreement
Loss Contingencies [Line Items]
Outstanding letter of credit	180,900
Surety Bond Construction Improvements [Member]
Loss Contingencies [Line Items]
Outstanding Surety Bonds Amount	909,200
Surety Bond Other Obligations [Member]
Loss Contingencies [Line Items]
Additional outstanding surety bonds	319,100
Financial Guarantee
Loss Contingencies [Line Items]
Outstanding Surety Bonds Amount	$ 28,600

Commitments and Contingencies_5

Commitments and Contingencies (Details 1) - Loan Origination Commitments [Member] - USD ($) $ in Thousands	Jul. 31, 2024	Oct. 31, 2023
Company's mortgage commitments
Unused Commitments to Extend Credit	$ 2,062,405	$ 2,173,202
Investor commitments to purchase	424,606	459,419
Interest Rate Lock Commitments [Member]
Company's mortgage commitments
Unused Commitments to Extend Credit	296,717	354,716
Investor commitments to purchase	296,717	354,716
Non Interest Rate Lock Commitments [Member]
Company's mortgage commitments
Unused Commitments to Extend Credit	1,765,688	1,818,486
Mortgage Receivable [Member]
Company's mortgage commitments
Investor commitments to purchase	$ 127,889	$ 104,703

Information on Segments (Detail

Information on Segments (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Segment Reporting Information [Line Items]
Inventory Write-down	$ 5,459	$ 3,364	$ 35,358	$ 22,437
North [Member] | Traditional Homebuilding [Member]
Segment Reporting Information [Line Items]
Inventory Write-down	390	158	923	590
Mid-Atlantic [Member] | Traditional Homebuilding [Member]
Segment Reporting Information [Line Items]
Inventory Write-down	2,690	2,225	5,585	8,545
Pacific [Member] | Traditional Homebuilding [Member]
Segment Reporting Information [Line Items]
Inventory Write-down	58	18	128	6,241
Land and Land Improvements
Segment Reporting Information [Line Items]
Inventory Write-down		$ 0	4,400	17,700
Land and Land Improvements | Corporate and other [Member]
Segment Reporting Information [Line Items]
Inventory Write-down	$ 3,800		3,800	2,500
Land and Land Improvements | North [Member]
Segment Reporting Information [Line Items]
Inventory Write-down				2,700
Land and Land Improvements | Mid-Atlantic [Member]
Segment Reporting Information [Line Items]
Inventory Write-down			$ 600	10,300
Land and Land Improvements | Pacific [Member]
Segment Reporting Information [Line Items]
Inventory Write-down				$ 2,200

Information on Segments (Deta_2

Information on Segments (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Oct. 31, 2023
Revenues
Revenues		$ 2,727,944	$ 2,687,642	$ 7,513,278	$ 6,974,790
Income (loss) before income taxes
Income before income taxes		503,627	553,017	1,464,567	1,237,405
Total assets
Total assets		13,359,711		13,359,711		$ 12,527,018
Inventory Write-down		5,459	3,364	35,358	22,437
Corporate and other [Member]
Revenues
Revenues		1,007	1,355	(161)	745
Income (loss) before income taxes
Income before income taxes		(55,331)	(24,191)	(144,420)	(113,623)
Total assets
Total assets		2,309,651		2,309,651		2,680,453
Traditional Homebuilding [Member] | Operating Segments
Revenues
Revenues		2,723,465	2,673,247	7,303,489	6,913,377
Income (loss) before income taxes
Income before income taxes		558,958	577,208	1,608,987	1,351,028
Total assets
Total assets		11,050,060		11,050,060		9,846,565
Inventory Write-down		5,459	3,364	35,358	22,437
North [Member] | Traditional Homebuilding [Member]
Revenues
Revenues		375,119	377,744	982,991	1,081,854
Income (loss) before income taxes
Income before income taxes		64,615	49,087	149,058	136,643
Total assets
Total assets		1,533,394		1,533,394		1,281,479
Inventory Write-down		390	158	923	590
Mid-Atlantic [Member] | Traditional Homebuilding [Member]
Revenues
Revenues		335,721	288,480	975,985	787,184
Income (loss) before income taxes
Income before income taxes		73,470	71,132	377,513	158,482
Total assets
Total assets		1,505,684		1,505,684		1,323,381
Inventory Write-down		2,690	2,225	5,585	8,545
South [Member] | Traditional Homebuilding [Member]
Revenues
Revenues		776,262	632,572	1,967,522	1,544,804
Income (loss) before income taxes
Income before income taxes		161,177	126,861	386,072	268,028
Total assets
Total assets		2,627,920		2,627,920		2,399,055
Inventory Write-down		2,289	921	3,016	1,402
Mountain [Member] | Traditional Homebuilding [Member]
Revenues
Revenues		670,027	726,004	1,726,976	1,880,450
Income (loss) before income taxes
Income before income taxes		113,785	146,757	275,899	368,003
Total assets
Total assets		3,038,021		3,038,021		2,666,874
Inventory Write-down		32	42	25,706	5,659
Pacific [Member] | Traditional Homebuilding [Member]
Revenues
Revenues		566,336	648,447	1,650,015	1,619,085
Income (loss) before income taxes
Income before income taxes		145,911	183,371	420,445	419,872
Total assets
Total assets		2,345,041		2,345,041		$ 2,175,776
Inventory Write-down		58	18	128	6,241
Home Building [Member]
Revenues
Revenues		2,724,472	2,674,602	7,303,328	6,914,122
Land and Land Improvements
Total assets
Inventory Write-down			0	4,400	17,700
Land and Land Improvements | Corporate and other [Member]
Total assets
Inventory Write-down		3,800		3,800	2,500
Land and Land Improvements | North [Member]
Total assets
Inventory Write-down					2,700
Land and Land Improvements | Mid-Atlantic [Member]
Total assets
Inventory Write-down				600	10,300
Land and Land Improvements | Pacific [Member]
Total assets
Inventory Write-down					2,200
Land [Member]
Revenues
Revenues	$ 180,700	$ 3,472	$ 13,040	209,950	$ 60,668
Land [Member] | Mid-Atlantic [Member]
Revenues
Revenues				$ 185,000

Supplemental Disclosure to Co_3

Supplemental Disclosure to Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Oct. 31, 2023	Oct. 31, 2022
Cash flow information:
Income Taxes Paid, Net	$ 397,666	$ 427,153
Noncash activity:
Cost of inventory acquired through seller financing, municipal bonds, or included in accrued expenses - net	228,660	342,073
Noncash increase/decrease in investments unconsolidated entities due to net change in accrued liabilities	5,626	1,987
Transfer of other assets to property, construction and office equipment - net	133,020	13,738
Unrealized loss on derivatives	(14,816)	(7,767)
Cash, cash equivalents, and restricted cash
Cash and cash equivalents	893,422	1,033,369	$ 1,300,068
Restricted cash included in receivables, prepaid expenses, and other assets	69,852	49,333
Total cash, cash equivalents, and restricted cash shown on the Condensed Consolidated Statements of Cash Flows	$ 963,274	$ 1,082,702	$ 1,344,341	$ 1,398,550