Toll Brothers (TOL) 10-Q2 Mar 232023 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
Document and Entity Information Document - shares	Jan. 31, 2023	Feb. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2023
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		110,733,000
Entity Central Index Key	0000794170
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 31, 2023	Oct. 31, 2022
ASSETS
Cash and cash equivalents	$ 791,609	$ 1,346,754
Inventory	9,099,485	8,733,326
Property, construction and office equipment, net	293,727	287,827
Receivables, prepaid expenses and other assets	675,662	747,228
Mortgage loans held for sale, at fair value	82,518	185,150
Customer deposits held in escrow	132,933	136,115
Investments in unconsolidated entities	908,949	852,314
Total assets	11,984,883	12,288,714
Liabilities:
Loans payable	1,145,646	1,185,275
Senior notes	1,995,439	1,995,271
Mortgage company loan facility	71,187	148,863
Customer deposits	665,431	680,588
Accounts payable	510,491	619,411
Accrued expenses	1,250,546	1,345,987
Income taxes payable	129,149	291,479
Total liabilities	5,767,889	6,266,874
Stockholders' equity:
Preferred stock, none issued	0	0
Common stock, 127,937 shares issued January 31, 2023 and October 31, 2022, respectively	1,279	1,279
Additional paid-in capital	696,115	716,786
Retained earnings	6,335,574	6,166,732
Treasury stock, at cost - 17,165 and 18,312 shares at January 31, 2023 and October 31, 2022, respectively	(865,775)	(916,327)
Total AOCI ending balance	34,154	37,618
Total stockholders' equity	6,201,347	6,006,088
Noncontrolling interest	15,647	15,752
Total equity	6,216,994	6,021,840
Total liabilities and stockholders' equity	11,984,883	12,288,714
Variable Interest Entity, Primary Beneficiary [Member]
ASSETS
Investments in unconsolidated entities	$ 91,300	$ 81,300

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares shares in Thousands	Jan. 31, 2023	Oct. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, shares issued	0	0
Common stock, shares issued	127,937	127,937
Treasury stock, at cost	17,165	18,312

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Revenues	$ 1,780,169	$ 1,791,081
Cost of revenues	1,343,358	1,389,144
Selling, general and administrative	211,497	226,870
Income from operations	225,314	175,067
Other:
(Loss) income from unconsolidated entities	(4,433)	22,037
Other income - net	32,915	3,712
Income before income taxes	253,796	200,816
Income tax provision	62,266	48,912
Net income	191,530	151,904
Other comprehensive income, net of tax:
Other comprehensive (loss) income - net of tax	(3,464)	4,702
Total comprehensive income	$ 188,066	$ 156,606
Per share:
Basic earnings	$ 1.72	$ 1.26
Diluted earnings	$ 1.70	$ 1.24
Weighted average number of shares:
Basic	111,397	120,996
Diluted	112,336	122,858
Home Building [Member]
Revenues	$ 1,749,422	$ 1,687,352
Cost of revenues	1,300,923	1,289,527
Land [Member]
Revenues	30,747	103,729
Cost of revenues	$ 42,435	$ 99,617

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 [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]
Beginning balance at Oct. 31, 2021	$ 5,340,455	$ 1,279	$ 714,453	$ 4,969,839	$ (391,656)	$ 1,109	$ 45,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	151,904			151,904
Purchase of treasury stock	(185,768)				(185,768)
Exercise of stock options, stock based compensation issuances, and employee stock purchase plan issuances	(2,704)		(16,510)		13,806
Stock-based compensation	13,615		13,615
Dividends declared	(20,902)			(20,902)
Other Comprehensive Income (Loss), Net of Tax	4,702					4,702
Net income (loss) attributable to noncontrolling interest	21						21
Capital contributions (distributions) – net	127						127
Ending balance at Jan. 31, 2022	5,301,450	1,279	711,558	5,100,841	(563,618)	5,811	45,579
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	191,530			191,530
Purchase of treasury stock	(9,357)				(9,357)
Exercise of stock options, stock based compensation issuances, and employee stock purchase plan issuances	24,854		(35,055)		59,909
Stock-based compensation	14,384		14,384
Dividends declared	(22,688)			(22,688)
Other Comprehensive Income (Loss), Net of Tax	(3,464)					(3,464)
Net income (loss) attributable to noncontrolling interest	(105)						(105)
Ending balance at Jan. 31, 2023	$ 6,216,994	$ 1,279	$ 696,115	$ 6,335,574	$ (865,775)	$ 34,154	$ 15,647

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Cash flow provided by (used in) operating activities:
Net income	$ 191,530	$ 151,904
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	15,482	14,679
Stock-based compensation	14,384	13,615
Income (Loss) from unconsolidated entities	4,433	(22,037)
Distributions of earnings from unconsolidated entities	1,460	23,502
Deferred tax (benefit) provision	3,307	2,408
Inventory impairments and write-offs	8,004	2,233
Other	1,462	2,372
Changes in operating assets and liabilities
Inventory	(353,284)	(565,482)
Payments for Origination of Mortgage Loans Held-for-sale	(290,474)	(412,955)
Sale of mortgage loans	399,744	520,370
Receivables, prepaid expenses and other assets	25,875	(6,557)
Current income taxes, net	(164,463)	(48,074)
Customer deposits, net	(11,975)	77,618
Accounts payable and accrued expenses	(216,249)	(34,294)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	(357,764)	(280,698)
Cash flow (used in) provided by investing activities:
Purchase of property, construction and office equipment - net	(19,738)	(18,475)
Investments in and advances to unconsolidated entities	(74,550)	(109,866)
Return of investments in unconsolidated entities	15,866	65,792
Proceeds from the sale of assets	9,041	0
Other	0	194
Net Cash (Used in) Provided By Investing Activities, Continuing Operations	(69,381)	(62,355)
Cash flow used in financing activities:
Proceeds from loans payable	703,990	766,858
Repayments of loans payable	(829,134)	(822,142)
Redemption of senior notes	0	(409,856)
(Payments) proceeds from stock-based benefit plans	24,857	(2,701)
Purchase of treasury stock	(9,357)	(128,069)
Dividends paid	(22,878)	(21,077)
Proceeds from (Payments to) Noncontrolling Interests	0	(61)
Net Cash Used in Financing Activities, Continuing Operations	(132,522)	(617,048)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(559,667)	(960,101)
Cash, Cash Equivalents, and Restricted Cash , beginning of period	1,398,550	1,684,412
Cash, Cash Equivalents, and Restricted Cash, end of period	838,883	724,311
Land and Land Improvements
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Inventory impairments and write-offs	$ 13,000	$ 0

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
Significant Accounting Policies	Jan. 31, 2023
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, 2022 balance sheet amounts and disclosures have been derived from our October 31, 2022 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, 2022 (“2022 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 January 31, 2023; the results of our operations and changes in equity for the three-month periods ended January 31, 2023 and 2022; and our cash flows for the three-month periods ended January 31, 2023 and 2022. 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 January 31, 2023, 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 $665.4 million and $680.6 million at January 31, 2023 and October 31, 2022, respectively. Of the outstanding customer deposits held as of October 31, 2022, we recognized $122.9 million in home sales revenues during the three months ended January 31, 2023. Of the outstanding customer deposits held as of October 31, 2021, we recognized $110.9 million in home sales revenues during the three months ended January 31, 2022. 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 sales to third parties of land we have decided no longer meets our development criteria; and (4) sales of commercial and retail properties generally located at our high-rise urban luxury condominium buildings. 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. 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 March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, “Reference Rate Reform (Topic 848),” as amended by ASU 2021-01 in January 2021 and ASU 2022-06 in December 2022 (“ASC 848”), directly addressing the effects of reference rate reform on financial reporting as a result of the cessation of the publication of certain London Interbank Offered Rate (“LIBOR”) rates beginning December 31, 2021. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform by virtue of referencing LIBOR or another reference rate expected to be discontinued. This guidance became effective on March 12, 2020 and can be adopted no later than December 31, 2024, with early adoption permitted. We elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We continue to evaluate the impact of the guidance on our consolidated financial statements and may apply other elections as applicable as additional changes in the market occur. Reclassification

Inventory

Inventory	3 Months Ended
Inventory	Jan. 31, 2023
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory at January 31, 2023 and October 31, 2022 consisted of the following (amounts in thousands): January 31, October 31, Land controlled for future communities $ 229,844 $ 240,751 Land owned for future communities 850,056 808,851 Operating communities 8,019,585 7,683,724 $ 9,099,485 $ 8,733,326 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, for the periods indicated, which are included in home sales cost of revenues, are shown in the table below (amounts in thousands): Three months ended January 31, 2023 2022 Land controlled for future communities $ 2,604 $ 793 Land owned for future communities — 1,440 Operating communities 5,400 — $ 8,004 $ 2,233 We have also recognized $13.0 million of land impairment charges on land held for sale included in land sales and other cost of revenues during the three-month period ended January 31, 2023. No similar charges were recognized during the three-month period ended January 31, 2022. See Note 13, “Commitments and Contingencies,” for information regarding land purchase commitments. At January 31, 2023, 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 January 31, 2023, we determined that 228 land purchase contracts, with an aggregate purchase price of $3.67 billion, on which we had made aggregate deposits totaling $408.9 million, were VIEs, and that we were not the primary beneficiary of any VIE related to our land purchase contracts. At October 31, 2022, we determined that 237 land purchase contracts, with an aggregate purchase price of $3.89 billion, on which we had made aggregate deposits totaling $417.6 million, were VIEs and that we were not the primary beneficiary of any VIE related to our land purchase contracts. Interest incurred, capitalized, and expensed, for the periods indicated, was as follows (amounts in thousands): Three months ended January 31, 2023 2022 Interest capitalized, beginning of period $ 209,468 $ 253,938 Interest incurred 36,854 31,005 Interest expensed to home sales cost of revenues (25,080) (32,437) Interest expensed to land sales and other cost of revenues (3,477) (3,409) Interest capitalized on investments in unconsolidated entities (2,463) (1,290) Previously capitalized interest transferred to investments in unconsolidated entities (244) — Previously capitalized interest on investments in unconsolidated entities transferred to inventory 139 135 Interest capitalized, end of period $ 215,197 $ 247,942

Investments in Unconsolidated E

Investments in Unconsolidated Entities	3 Months Ended
Investments in Unconsolidated Entities	Jan. 31, 2023
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 January 31, 2023, regarding active joint ventures that we are invested in, by joint venture category ($ amounts in thousands): Land Home Building Rental Property Gibraltar Total Number of unconsolidated entities 16 3 42 4 65 Investment in unconsolidated entities (1) $ 355,513 $ 66,555 $ 469,358 $ 17,523 $ 908,949 Number of unconsolidated entities with funding commitments by the Company 10 1 20 1 32 Company’s remaining funding commitment to unconsolidated entities (2) $ 218,343 $ 1,255 $ 76,914 $ 11,791 $ 308,303 (1) Our total investment includes $103.2 million related to 13 unconsolidated joint venture-related variable interests in VIEs and our maximum exposure to losses related to these VIEs is approximately $199.0 million as of January 31, 2023. Our ownership interest in such unconsolidated Joint Venture VIEs ranges from 20% to 50% . (2) Our remaining funding commitment includes approximately $104.0 million related to our unconsolidated joint venture-related variable interests in VIEs. The table below provides information as of October 31, 2022, regarding active joint ventures that we are invested in, by joint venture category ($ amounts in thousands): Land Home Building Rental Property Gibraltar Total Number of unconsolidated entities 15 3 41 4 63 Investment in unconsolidated entities (1) $ 343,314 $ 49,385 $ 441,399 $ 18,216 $ 852,314 Number of unconsolidated entities with funding commitments by the Company 9 1 18 1 29 Company’s remaining funding commitment to unconsolidated entities (2) $ 180,812 $ 20,072 $ 90,900 $ 12,533 $ 304,317 (1) Our total investment includes $100.2 million related to 13 unconsolidated joint venture-related variable interests in VIEs and our maximum exposure to losses related to these VIEs is approximately $200.0 million as of October 31, 2022. Our ownership interest in such unconsolidated Joint Venture VIEs ranges from 20% to 50% . (2) Our remaining funding commitment includes approximately $105.0 million related to our unconsolidated joint venture-related variable interests in VIEs. Certain joint ventures in which we have investments obtained debt financing to finance a portion of their activities. The table below provides information at January 31, 2023, regarding the debt financing obtained by category ($ amounts in thousands): Land Home Building Rental Property Total Number of joint ventures with debt financing 11 2 37 50 Aggregate loan commitments $ 576,959 $ 219,650 $ 3,502,133 $ 4,298,742 Amounts borrowed under loan commitments $ 467,999 $ 40,355 $ 1,923,967 $ 2,432,321 The table below provides information at October 31, 2022, regarding the debt financing obtained by category ($ amounts in thousands): Land Home Building Rental Property Total Number of joint ventures with debt financing 10 2 35 47 Aggregate loan commitments $ 557,185 $ 219,650 $ 3,317,261 $ 4,094,096 Amounts borrowed under loan commitments $ 444,306 $ 17,583 $ 1,774,567 $ 2,236,456 More specific and/or recent information regarding our investments in, advances to, and future commitments to these entities is provided below. New Joint Ventures The table below provides information on joint ventures entered into during the three-months ended January 31, 2023 ($ amounts in thousands): Land Development Joint Ventures Rental Property Joint Ventures Number of unconsolidated joint ventures entered into during the period 1 1 Investment balance at January 31, 2023 $ 8,676 $ 3,215 The table below provides information on joint ventures entered into during the three-months ended January 31, 2022 ($ amounts in thousands): Land Development Joint Ventures Rental Property Joint Ventures Gibraltar Joint Ventures Number of unconsolidated joint ventures entered into during the period 2 4 1 Investment balance at January 31, 2022 $ 13,557 $ 47,569 $ 1,641 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 connection with these sales, we recognized a gain of $21.0 million in the three-month period ended January 31, 2022. No similar gains were recognized in the three-month period ended January 31, 2023. These gains ar e included in “Income from unconsolidated entities” on our Condensed Consolidated Statements of Operations and Comprehensive Income. There were no other-than-temporary impairment charges recognized during the three-month periods ended January 31, 2023 and 2022. In our first quarters of fiscal 2023 and 2022, we purchased land from unconsolidated entities, principally related to our acquisition of lots from our Land Development Joint Ventures, totaling $16.7 million and $23.8 million, respectively. Our share of income from the lots we acquired was insignificant in each period. We sold land to unconsolidated entities, which principally involved land sales to our Rental Property Joint Ventures, totaling $8.2 million and $78.0 million i n our first quarters of fiscal 2023 and 2022 , respectively. These amounts are 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. 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 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 January 31, 2023, 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): January 31, 2023 October 31, 2022 Loan commitments in the aggregate $ 3,044,300 $ 2,858,800 Our maximum estimated exposure under repayment and carry cost guarantees if the full amount of the debt obligations were borrowed (1) $ 627,300 $ 597,800 Debt obligations borrowed in the aggregate $ 1,288,500 $ 1,110,900 Our maximum estimated exposure under repayment and carry cost guarantees of the debt obligations borrowed $ 418,800 $ 390,500 Estimated fair value of guarantees provided by us related to debt and other obligations $ 18,200 $ 16,900 Terms of guarantees 1 month - 4.0 years 1 month - 3.7 years (1) At January 31, 2023 and October 31, 2022, our maximum estimated exposure under repayment and carry cost guarantees includes approximately $95.0 million and $95.0 million, respectively, related to our unconsolidated Joint Venture VIEs. The maximum exposure estimates presented above do not take into account any recoveries from the underlying collateral or any reimbursement from our partners. In addition, they do not include any potential exposures related to project completion guarantees or the indemnities noted above, which are not estimable. We have not made payments under any of the outstanding guarantees, nor have we been called upon to do so. Variable Interest Entities We have both unconsolidated and consolidated joint venture-related variable interests in VIEs. Information regarding our involvement in unconsolidated joint-venture related variable interests in VIEs has been disclosed throughout information presented above. The table below provides information as of January 31, 2023 and October 31, 2022, regarding our consolidated joint venture-related variable interests in VIEs ($ amounts in thousands): Balance Sheet Classification January 31, October 31, Number of Joint Venture VIEs that the Company is the primary beneficiary and consolidates 6 5 Carrying value of consolidated VIEs assets Inventory or investments in unconsolidated entities $ 91,300 $ 81,300 Our partners’ interests in consolidated VIEs Noncontrolling interest $ 9,600 $ 9,700 Our ownership interest in the above consolidated Joint Venture VIEs ranges from 80% 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 VIEs’ 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: January 31, October 31, Cash and cash equivalents $ 245,014 $ 254,884 Inventory 1,311,563 1,256,215 Loans receivable – net 48,342 48,217 Rental properties 1,795,600 1,702,690 Rental properties under development 1,498,838 1,413,607 Other assets 361,197 305,250 Total assets $ 5,260,554 $ 4,980,863 Debt – net of deferred financing costs $ 2,421,511 $ 2,248,754 Other liabilities 393,811 399,818 Partners’ equity 2,445,232 2,332,291 Total liabilities and equity $ 5,260,554 $ 4,980,863 Company’s net investment in unconsolidated entities (1) $ 908,949 $ 852,314 (1) Our underlying equity in the net assets of the unconsolidated entities was less than our net investment in unconsolidated entities by $17.5 million and $18.5 million as of January 31, 2023 and October 31, 2022, respectively, and these differences are primarily a result of unrealized gains on our retained joint venture interests; distributions from entities in excess of the carrying amount of our net investment; interest capitalized on our investments; other than temporary impairments we have recognized; gains recognized from the sale of our ownership interests; and the estimated fair value of the guarantees provided to the joint ventures. Condensed Combined Statements of Operations: Three months ended January 31, 2023 2022 Revenues $ 109,270 $ 155,752 Cost of revenues 59,353 108,483 Other expenses 63,074 43,603 Total expenses 122,427 152,086 Loss on disposition of loans and real estate owned — (113) (Loss) income from operations (13,157) 3,553 Other (loss) income (2) (1,356) 33,347 (Loss) income before income taxes (14,513) 36,900 Income tax (benefit) expense (18) 83 Net (loss) income (14,495) 36,817 Company’s (loss) income from unconsolidated entities (3) $ (4,433) $ 22,037 (2) The three months ending January 31, 2022 includes $29.9 million related to the sale of an asset by one Rental Property Joint Venture. (3) Differences between our (loss) income from unconsolidated entities and the underlying net (loss) income of the entities are primarily 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; and our share of the entities’ profits related to home sites purchased by us which reduces our cost basis of the home sites acquired.

Receivables, Prepaid Expenses,

Receivables, Prepaid Expenses, and Other Assets	3 Months Ended
Receivables, Prepaid Expenses, and Other Assets	Jan. 31, 2023
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 January 31, 2023 and October 31, 2022, consisted of the following (amounts in thousands): January 31, 2023 October 31, 2022 Expected recoveries from insurance carriers and others $ 36,654 $ 41,527 Improvement cost receivable 61,236 60,812 Escrow cash held by our wholly owned captive title company 47,274 51,796 Properties held for rental apartment and commercial development 230,691 224,593 Prepaid expenses 35,396 44,307 Right-of-use asset 121,381 116,660 Derivative assets 40,298 71,929 Other 102,732 135,604 $ 675,662 $ 747,228

Loans Payable, Senior Notes and

Loans Payable, Senior Notes and Mortgage Company Loan Facility	3 Months Ended
	Jan. 31, 2023
Debt Disclosure [Abstract]
Loans Payable, Senior Notes, and Mortgage Company Loan Facility	Loans Payable, Senior Notes, and Mortgage Company Loan Facility Loans Payable At January 31, 2023 and October 31, 2022, loans payable consisted of the following (amounts in thousands): January 31, October 31, Senior unsecured term loan $ 650,000 $ 650,000 Loans payable – other 497,284 537,043 Deferred issuance costs (1,638) (1,768) $ 1,145,646 $ 1,185,275 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. On October 31, 2021, we entered into term loan extension agreements to extend the maturity date of $548.4 million of outstanding term loans from November 1, 2025 to November 1, 2026, with the remainder of the term loans remaining due November 1, 2025. At January 31, 2023, other than $101.6 million of term loans that were scheduled to mature on November 1, 2025, there were no payments required before the final maturity date on the Term Loan Facility. At January 31, 2023, the interest rate on the Term Loan Facility was 5.37% per annum. We and substantially all of our 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. On February 14, 2023, we entered into an amendment to the Term Loan Facility to extend the maturity date of $487.5 million of outstanding term loans to February 14, 2028, with $60.9 million due on November 1, 2026 and the remaining $101.6 million due on November 1, 2025. In addition, this amendment replaced the LIBOR-based interest rate provisions applicable to borrowings under the Term Loan Facility with Secured Overnight Financing Rate (“SOFR”)-based interest rate provisions. 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 January 31, 2023 was 0.80%. These interest rate swaps were designated as cash flow hedges. Revolving Credit Facility At January 31, 2023, we had a $1.905 billion, senior unsecured revolving credit facility (the “Revolving Credit Facility”) with a syndicate of banks. On October 31, 2021, we entered into extension letter agreements which extended the maturity date of $1.78 billion of the revolving loans and commitments under the Revolving Credit Facility from November 1, 2025 to November 1, 2026, with the remainder of the revolving loans and commitments terminating on November 1, 2025. We and substantially all of our 100%-owned home building subsidiaries were guarantors under the Revolving Credit Facility. Under the terms of the Revolving Credit Facility, at January 31, 2023, our maximum leverage ratio, as defined, was not permitted to exceed 1.75 to 1.00, and we were required to maintain a minimum tangible net worth, as defined, of no less than approximately $4.00 billion. Under the terms of the Revolving Credit Facility, at January 31, 2023, our leverage ratio was approximately 0.38 to 1.00, and our tangible net worth was approximately $6.15 billion. Based upon the terms of the Revolving Credit Facility, our ability to repurchase our common stock was limited to approximately $3.55 billion as of January 31, 2023. In addition, under the provisions of the Revolving Credit Facility, our ability to pay cash dividends was limited to approximately $2.15 billion as of January 31, 2023. At January 31, 2023, we had no outstanding borrowings under the Revolving Credit Facility and had approximately $120.4 million of outstanding letters of credit that were issued under the Revolving Credit Facility. At January 31, 2023, the interest rate on outstanding borrowings under the Revolving Credit Facility would have been 5.67% per annum. On February 14, 2023, we entered into a new five-year senior unsecured revolving credit facility with a syndicate of banks that is scheduled to terminate on February 14, 2028. The new agreement provides for a revolving credit facility with committed borrowing capacity of $1.905 billion. The terms of the new credit facility are substantially the same as those of the Revolving Credit Facility, except that the LIBOR-based interest rate provisions have been replaced with SOFR-based provisions. As with the Revolving Credit Facility, Toll Brothers, Inc. and substantially all of its home building subsidiaries are guarantors of the borrower’s obligations under the new credit facility. In connection with the execution of the new revolving credit facility, the Revolving Credit Facility was terminated. 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 January 31, 2023, the weighted-average interest rate on “Loans payable – other” was 4.19% per annum. Senior Notes At January 31, 2023, we had five issues of senior notes outstanding with an aggregate principal amount of $2.00 billion. In our first quarter of fiscal 2022, we redeemed the remaining $409.9 million principal amount of 5.875% Senior Notes due February 15, 2022, at par, plus accrued interest. Mortgage Company Loan Facility

Accrued Expenses

Accrued Expenses	3 Months Ended
Accrued Expenses	Jan. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses at January 31, 2023 and October 31, 2022 consisted of the following (amounts in thousands): January 31, October 31, Land, land development, and construction $ 352,549 $ 334,975 Compensation and employee benefits 147,807 223,609 Escrow liability associated with our wholly owned captive title company 40,965 44,115 Self-insurance 251,529 251,576 Warranty 156,895 164,409 Lease liabilities 143,714 139,664 Deferred income 46,540 50,973 Interest 34,654 31,988 Commitments to unconsolidated entities 28,276 26,905 Other 47,617 77,773 $ 1,250,546 $ 1,345,987 The table below provides, for the periods indicated, a reconciliation of the changes in our warranty accrual (amounts in thousands): Three months ended January 31, 2023 2022 Balance, beginning of period $ 164,409 $ 145,062 Additions – homes closed during the period 7,186 9,455 Change in accruals for homes closed in prior years – net 2,096 2,957 Charges incurred (16,796) (14,431) Balance, end of period $ 156,895 $ 143,043 Since fiscal 2014, we have received water intrusion claims from owners of homes built since 2002 in communities located in Pennsylvania and Delaware. Our recorded estimated repair costs to resolve these claims were approximately $45.6 million at January 31, 2023 and $46.9 million at October 31, 2022, and are included in the Warranty accrued expense above. 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 and such differences could be material. In addition, due to such uncertainty, we are unable to estimate the range of any such differences.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Jan. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We recorded income tax provisions of $62.3 million and $48.9 million for the three months ended January 31, 2023 and 2022, respectively. The effective tax rate was 24.5% for the three months ended January 31, 2023, compared to 24.4% for the three months ended January 31, 2022. The income tax provisions for all periods included the provision for state income taxes, interest accrued on anticipated tax assessments, and excess tax benefits related to stock-based compensation. 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 2023 will be approximately 5.7%. Our state income tax rate for the full fiscal year 2022 was 5.6%. At January 31, 2023, we had $5.3 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	3 Months Ended
Stock-Based Benefit Plans	Jan. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Benefit Plans	Stock-Based Benefit Plans We grant stock options and various types of restricted stock units to our employees and our non-employee directors. 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 January 31, 2023 2022 Total stock-based compensation expense recognized $ 14,384 $ 13,615 Income tax benefit recognized $ 3,638 $ 3,413 At January 31, 2023 and October 31, 2022, the aggregate unamortized value of unvested stock-based compensation awards was approximately $25.7 million and $15.5 million, respectively.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Jan. 31, 2023
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 May 17, 2022, 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. 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 January 31, 2023 2022 Number of shares purchased (in thousands) 187 3,013 Average price per share $ 49.95 $ 61.65 Remaining authorization at January 31 (in thousands) 14,389 9,550 Cash Dividends During the three months ended January 31, 2023 and 2022, we declared and paid cash dividends of $0.20 and $0.17 per share, respectively, to our shareholders. Accumulated Other Comprehensive Income (Loss) The changes in each component of accumulated other comprehensive income (loss) (“AOCI”), for the periods indicated, were as follows (amounts in thousands): Three months ended January 31, 2023 2022 Employee Retirement Plans Beginning balance $ 2,475 $ (6,024) Gains reclassified from AOCI to net income (1) 23 451 Less: Tax benefit (2) (6) (113) Net gains reclassified from AOCI to net income 17 338 Other comprehensive income – net of tax 17 338 Ending balance $ 2,492 $ (5,686) Derivative Instruments Beginning balance $ 35,143 $ 7,133 (Losses) gains on derivative instruments (4,297) 5,748 Less: Tax benefit (expense) 1,086 (1,441) Net (losses) gains on derivative instruments (3,211) 4,307 (Losses) gains reclassified from AOCI to net income (3) (362) 76 Less: Tax expense (benefit) (2) 92 (19) Net (gains) losses reclassified from AOCI to net income (270) 57 Other comprehensive (loss) income – net of tax (3,481) 4,364 Ending balance $ 31,662 $ 11,497 Total AOCI ending balance $ 34,154 $ 5,811 (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	3 Months Ended
Earnings Per Share Information	Jan. 31, 2023
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 shares issued (amounts in thousands): Three months ended January 31, 2023 2022 Numerator: Net income as reported $ 191,530 $ 151,904 Denominator: Basic weighted-average shares 111,397 120,996 Common stock equivalents (1) 939 1,862 Diluted weighted-average shares 112,336 122,858 Other information: Weighted-average number of antidilutive options and restricted stock units (2) 501 204 Shares issued under stock incentive and employee stock purchase plans 1,334 408 (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	3 Months Ended
Fair Value Disclosures	Jan. 31, 2023
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 January 31, October 31, 2022 Residential Mortgage Loans Held for Sale Level 2 $ 82,518 $ 185,150 Forward Loan Commitments — Residential Mortgage Loans Held for Sale Level 2 $ 1,032 $ 9,184 Interest Rate Lock Commitments (“IRLCs”) Level 2 $ (2,359) $ (17,734) Forward Loan Commitments — IRLCs Level 2 $ 2,359 $ 17,734 Interest Rate Swap Contracts Level 2 $ 36,907 $ 45,010 At January 31, 2023 and October 31, 2022, 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 January 31, 2023, 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 January 31, 2023 $ 84,475 $ 82,518 $ (1,957) At October 31, 2022 $ 193,746 $ 185,150 $ (8,596) 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 2022 Form 10-K for additional information regarding our methodology for determining fair value. Impairments on operating communities were insignificant during the three-month periods ended January 31, 2023 and 2022 and, accordingly, we did not disclose the ranges of certain quantitative unobservable inputs utilized in determining the fair value of such 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): January 31, 2023 October 31, 2022 Fair value Book value Estimated Book value Estimated Loans payable (1) Level 2 $ 1,147,284 $ 1,136,368 $ 1,187,043 $ 1,180,893 Senior notes (2) Level 1 2,000,000 1,920,095 2,000,000 1,822,255 Mortgage company loan facility (3) Level 2 71,187 71,187 148,863 148,863 $ 3,218,471 $ 3,127,650 $ 3,335,906 $ 3,152,011 (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	3 Months Ended
Other Income - Net	Jan. 31, 2023
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 January 31, 2023 2022 (Loss) income from ancillary businesses $ (2,949) $ 1,960 Management fee income from Land Development and Home Building Joint Ventures – net 1,403 1,338 Gain on litigation settlements – net 27,683 — Other 6,778 414 Total other income – net $ 32,915 $ 3,712 Management fee income from Land Development and Home Building Joint Ventures - net includes fees earned by our home building operations. Income from ancillary businesses is generated by our mortgage, title, landscaping, smart home technology, Gibraltar, apartment 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 January 31, 2023 2022 Revenues $ 27,907 $ 27,697 Expenses $ 30,856 $ 25,737 In the three-month periods ended January 31, 2023 and 2022, our apartment living operations earned fees from unconsolidated entities of $6.2 million and $4.8 million, respectively. Fees earned by our apartment living operations are included in income from ancillary businesses.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Jan. 31, 2023
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): January 31, 2023 October 31, 2022 Aggregate purchase price: Unrelated parties $ 4,009,091 $ 4,279,660 Unconsolidated entities that the Company has investments in 44,753 42,057 Total $ 4,053,844 $ 4,321,717 Deposits against aggregate purchase price $ 446,989 $ 463,452 Additional cash required to acquire land 3,606,855 3,858,265 Total $ 4,053,844 $ 4,321,717 Amount of additional cash required to acquire land included in accrued expenses $ 56,733 $ 34,994 In addition, we expect to purchase approximately 7,200 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 January 31, 2023, we also had purchase contracts to acquire land for apartment developments of approximately $278.7 million, of which we had outstanding deposits in the amount of $11.8 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 January 31, 2023, 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 January 31, 2023, we had outstanding surety bonds amounting to $812.3 million, primarily related to our obligations to governmental entities to construct improvements in our communities. We estimate that approximately $371.5 million of work remains on these improvements. We have an additional $271.3 million of surety bonds outstanding that guarantee other obligations. We do not believe that it is probable that any outstanding bonds will be drawn upon. At January 31, 2023, we had outstanding letters of credit of $120.4 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 January 31, 2023, we had provided financial guarantees of $25.7 million related to fronted letters of credit to secure obligations related to certain of our insurance policy deductibles and other claims. Backlog At January 31, 2023, we had agreements of sale outstanding to deliver 7,733 homes with an aggregate sales value of $8.58 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): January 31, October 31, 2022 Aggregate mortgage loan commitments: IRLCs $ 588,052 $ 669,631 Non-IRLCs 2,105,078 2,429,063 Total $ 2,693,130 $ 3,098,694 Investor commitments to purchase: IRLCs $ 588,052 $ 669,631 Mortgage loans held for sale 73,974 186,666 Total $ 662,026 $ 856,297

Information on Segments

Information on Segments	3 Months Ended
Information on Segments	Jan. 31, 2023
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: Eastern Region: • 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; Western Region: • 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. At October 31, 2022, we concluded that our City Living operations were no longer a reportable operating segment, primarily due to their insignificance as a result of the change in structure and shift in strategy. Amounts reported in prior periods have been restated to conform to the fiscal 2023 presentation. The realignment did not have any impact on our consolidated financial position, results of operations, earnings per share or cash flows for the periods presented. 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 January 31, 2023 2022 (restated) Revenues: North $ 322,794 $ 355,134 Mid-Atlantic 189,117 242,877 South 392,881 243,519 Mountain 480,212 462,300 Pacific 364,768 384,949 Total home building 1,749,772 1,688,779 Corporate and other (350) (1,427) 1,749,422 1,687,352 Land sales and other revenues 30,747 103,729 Total consolidated $ 1,780,169 $ 1,791,081 Income (loss) before income taxes: North $ 36,634 $ 45,667 Mid-Atlantic 22,923 33,448 South 52,446 22,577 Mountain 87,304 71,011 Pacific 78,978 63,055 Total home building 278,285 235,758 Corporate and other (24,489) (34,942) Total consolidated $ 253,796 $ 200,816 “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 business, 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): January 31, October 31, North $ 1,426,233 $ 1,464,995 Mid-Atlantic 1,095,413 1,049,043 South 2,309,441 2,137,568 Mountain 2,816,386 2,785,603 Pacific 2,326,785 2,174,065 Total home building 9,974,258 9,611,274 Corporate and other 2,010,625 2,677,440 Total consolidated $ 11,984,883 $ 12,288,714 “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, 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 January 31, 2023 2022 (restated) North $ 141 $ 325 Mid-Atlantic 1,240 441 South 451 143 Mountain 131 102 Pacific 6,041 1,222 Total consolidated $ 8,004 $ 2,233 We have also recognized $13.0 million of land impairment charges included in land sales and other cost of revenues during the three-month period ended January 31, 2023, of which $2.7 million and $10.3 million, were in our North and Mid-Atlantic segments, respectively. No similar charges were recognized during the three-month period ended January 31, 2022.

Supplemental Disclosure to Cond

Supplemental Disclosure to Condensed Consolidated Statements of Cash Flows	3 Months Ended
	Jan. 31, 2023
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): Three months ended January 31, 2023 2022 Cash flow information: Income tax paid – net $ 223,424 $ 94,577 Noncash activity: Cost of inventory acquired through seller financing, municipal bonds, or included in accrued expenses - net $ 33,086 $ 123,176 Accrued treasury share purchases $ — $ 57,699 Transfer of other assets to investment in unconsolidated entities, net $ 2,115 $ 36,154 Transfer of other assets to property, construction and office equipment - net $ 10,518 $ — Unrealized (loss) gain on derivatives $ (8,103) $ 6,022 At January 31, 2023 2022 Cash, cash equivalents, and restricted cash Cash and cash equivalents $ 791,609 $ 671,365 Restricted cash included in receivables, prepaid expenses, and other assets 47,274 52,946 Total cash, cash equivalents, and restricted cash shown on the Condensed Consolidated Statements of Cash Flows $ 838,883 $ 724,311

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Jan. 31, 2023
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. 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, 2022 balance sheet amounts and disclosures have been derived from our October 31, 2022 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, 2022 (“2022 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 January 31, 2023; the results of our operations and changes in equity for the three-month periods ended January 31, 2023 and 2022; and our cash flows for the three-month periods ended January 31, 2023 and 2022. 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	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 January 31, 2023, 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 $665.4 million and $680.6 million at January 31, 2023 and October 31, 2022, respectively. Of the outstanding customer deposits held as of October 31, 2022, we recognized $122.9 million in home sales revenues during the three months ended January 31, 2023. Of the outstanding customer deposits held as of October 31, 2021, we recognized $110.9 million in home sales revenues during the three months ended January 31, 2022. 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 sales to third parties of land we have decided no longer meets our development criteria; and (4) sales of commercial and retail properties generally located at our high-rise urban luxury condominium buildings. 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. 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 March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, “Reference Rate Reform (Topic 848),” as amended by ASU 2021-01 in January 2021 and ASU 2022-06 in December 2022 (“ASC 848”), directly addressing the effects of reference rate reform on financial reporting as a result of the cessation of the publication of certain London Interbank Offered Rate (“LIBOR”) rates beginning December 31, 2021. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform by virtue of referencing LIBOR or another reference rate expected to be discontinued. This guidance became effective on March 12, 2020 and can be adopted no later than December 31, 2024, with early adoption permitted. We elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We continue to evaluate the impact of the guidance on our consolidated financial statements and may apply other elections as applicable as additional changes in the market occur.
Reclassification	ReclassificationCertain prior period amounts have been reclassified to conform to the fiscal 2023 presentation.

Inventory (Tables)

Inventory (Tables)	3 Months Ended
Inventory (Tables)	Jan. 31, 2023
Inventory Disclosure [Abstract]
Inventory	Inventory at January 31, 2023 and October 31, 2022 consisted of the following (amounts in thousands): January 31, October 31, Land controlled for future communities $ 229,844 $ 240,751 Land owned for future communities 850,056 808,851 Operating communities 8,019,585 7,683,724 $ 9,099,485 $ 8,733,326
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, for the periods indicated, which are included in home sales cost of revenues, are shown in the table below (amounts in thousands): Three months ended January 31, 2023 2022 Land controlled for future communities $ 2,604 $ 793 Land owned for future communities — 1,440 Operating communities 5,400 — $ 8,004 $ 2,233
Interest incurred, capitalized and expensed	Interest incurred, capitalized, and expensed, for the periods indicated, was as follows (amounts in thousands): Three months ended January 31, 2023 2022 Interest capitalized, beginning of period $ 209,468 $ 253,938 Interest incurred 36,854 31,005 Interest expensed to home sales cost of revenues (25,080) (32,437) Interest expensed to land sales and other cost of revenues (3,477) (3,409) Interest capitalized on investments in unconsolidated entities (2,463) (1,290) Previously capitalized interest transferred to investments in unconsolidated entities (244) — Previously capitalized interest on investments in unconsolidated entities transferred to inventory 139 135 Interest capitalized, end of period $ 215,197 $ 247,942

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Tables)	3 Months Ended
Investments in Unconsolidated Entities (Tables)	Jan. 31, 2023
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Summary of Joint Venture Information	The table below provides information as of January 31, 2023, regarding active joint ventures that we are invested in, by joint venture category ($ amounts in thousands): Land Home Building Rental Property Gibraltar Total Number of unconsolidated entities 16 3 42 4 65 Investment in unconsolidated entities (1) $ 355,513 $ 66,555 $ 469,358 $ 17,523 $ 908,949 Number of unconsolidated entities with funding commitments by the Company 10 1 20 1 32 Company’s remaining funding commitment to unconsolidated entities (2) $ 218,343 $ 1,255 $ 76,914 $ 11,791 $ 308,303 (1) Our total investment includes $103.2 million related to 13 unconsolidated joint venture-related variable interests in VIEs and our maximum exposure to losses related to these VIEs is approximately $199.0 million as of January 31, 2023. Our ownership interest in such unconsolidated Joint Venture VIEs ranges from 20% to 50% . (2) Our remaining funding commitment includes approximately $104.0 million related to our unconsolidated joint venture-related variable interests in VIEs. The table below provides information as of October 31, 2022, regarding active joint ventures that we are invested in, by joint venture category ($ amounts in thousands): Land Home Building Rental Property Gibraltar Total Number of unconsolidated entities 15 3 41 4 63 Investment in unconsolidated entities (1) $ 343,314 $ 49,385 $ 441,399 $ 18,216 $ 852,314 Number of unconsolidated entities with funding commitments by the Company 9 1 18 1 29 Company’s remaining funding commitment to unconsolidated entities (2) $ 180,812 $ 20,072 $ 90,900 $ 12,533 $ 304,317 (1) Our total investment includes $100.2 million related to 13 unconsolidated joint venture-related variable interests in VIEs and our maximum exposure to losses related to these VIEs is approximately $200.0 million as of October 31, 2022. Our ownership interest in such unconsolidated Joint Venture VIEs ranges from 20% to 50% . (2) Our remaining funding commitment includes approximately $105.0 million related to our unconsolidated joint venture-related variable interests in VIEs.
Summary of Joint Ventures Borrowing information	Certain joint ventures in which we have investments obtained debt financing to finance a portion of their activities. The table below provides information at January 31, 2023, regarding the debt financing obtained by category ($ amounts in thousands): Land Home Building Rental Property Total Number of joint ventures with debt financing 11 2 37 50 Aggregate loan commitments $ 576,959 $ 219,650 $ 3,502,133 $ 4,298,742 Amounts borrowed under loan commitments $ 467,999 $ 40,355 $ 1,923,967 $ 2,432,321 The table below provides information at October 31, 2022, regarding the debt financing obtained by category ($ amounts in thousands): Land Home Building Rental Property Total Number of joint ventures with debt financing 10 2 35 47 Aggregate loan commitments $ 557,185 $ 219,650 $ 3,317,261 $ 4,094,096 Amounts borrowed under loan commitments $ 444,306 $ 17,583 $ 1,774,567 $ 2,236,456
New joint venture formations	The table below provides information on joint ventures entered into during the three-months ended January 31, 2023 ($ amounts in thousands): Land Development Joint Ventures Rental Property Joint Ventures Number of unconsolidated joint ventures entered into during the period 1 1 Investment balance at January 31, 2023 $ 8,676 $ 3,215 The table below provides information on joint ventures entered into during the three-months ended January 31, 2022 ($ amounts in thousands): Land Development Joint Ventures Rental Property Joint Ventures Gibraltar Joint Ventures Number of unconsolidated joint ventures entered into during the period 2 4 1 Investment balance at January 31, 2022 $ 13,557 $ 47,569 $ 1,641
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): January 31, 2023 October 31, 2022 Loan commitments in the aggregate $ 3,044,300 $ 2,858,800 Our maximum estimated exposure under repayment and carry cost guarantees if the full amount of the debt obligations were borrowed (1) $ 627,300 $ 597,800 Debt obligations borrowed in the aggregate $ 1,288,500 $ 1,110,900 Our maximum estimated exposure under repayment and carry cost guarantees of the debt obligations borrowed $ 418,800 $ 390,500 Estimated fair value of guarantees provided by us related to debt and other obligations $ 18,200 $ 16,900 Terms of guarantees 1 month - 4.0 years 1 month - 3.7 years (1) At January 31, 2023 and October 31, 2022, our maximum estimated exposure under repayment and carry cost guarantees includes approximately $95.0 million and $95.0 million, respectively, related to our unconsolidated Joint Venture VIEs.
Consolidated Joint Venture Related Variable Interest Entities	The table below provides information as of January 31, 2023 and October 31, 2022, regarding our consolidated joint venture-related variable interests in VIEs ($ amounts in thousands): Balance Sheet Classification January 31, October 31, Number of Joint Venture VIEs that the Company is the primary beneficiary and consolidates 6 5 Carrying value of consolidated VIEs assets Inventory or investments in unconsolidated entities $ 91,300 $ 81,300 Our partners’ interests in consolidated VIEs Noncontrolling interest $ 9,600 $ 9,700 Our ownership interest in the above consolidated Joint Venture VIEs ranges from 80% to 98%.
Condensed balance sheet	Condensed Combined Balance Sheets: January 31, October 31, Cash and cash equivalents $ 245,014 $ 254,884 Inventory 1,311,563 1,256,215 Loans receivable – net 48,342 48,217 Rental properties 1,795,600 1,702,690 Rental properties under development 1,498,838 1,413,607 Other assets 361,197 305,250 Total assets $ 5,260,554 $ 4,980,863 Debt – net of deferred financing costs $ 2,421,511 $ 2,248,754 Other liabilities 393,811 399,818 Partners’ equity 2,445,232 2,332,291 Total liabilities and equity $ 5,260,554 $ 4,980,863 Company’s net investment in unconsolidated entities (1) $ 908,949 $ 852,314 (1) Our underlying equity in the net assets of the unconsolidated entities was less than our net investment in unconsolidated entities by $17.5 million and $18.5 million as of January 31, 2023 and October 31, 2022, respectively, and these differences are primarily a result of unrealized gains on our retained joint venture interests; distributions from entities in excess of the carrying amount of our net investment; interest capitalized on our investments; other than temporary impairments we have recognized; gains recognized from the sale of our ownership interests; and the estimated fair value of the guarantees provided to the joint ventures.
Condensed statements of operations and comprehensive income	Condensed Combined Statements of Operations: Three months ended January 31, 2023 2022 Revenues $ 109,270 $ 155,752 Cost of revenues 59,353 108,483 Other expenses 63,074 43,603 Total expenses 122,427 152,086 Loss on disposition of loans and real estate owned — (113) (Loss) income from operations (13,157) 3,553 Other (loss) income (2) (1,356) 33,347 (Loss) income before income taxes (14,513) 36,900 Income tax (benefit) expense (18) 83 Net (loss) income (14,495) 36,817 Company’s (loss) income from unconsolidated entities (3) $ (4,433) $ 22,037 (2) The three months ending January 31, 2022 includes $29.9 million related to the sale of an asset by one Rental Property Joint Venture. (3) Differences between our (loss) income from unconsolidated entities and the underlying net (loss) income of the entities are primarily 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; and our share of the entities’ profits related to home sites purchased by us which reduces our cost basis of the home sites acquired.

Receivables, Prepaid Expenses_2

Receivables, Prepaid Expenses, and Other Assets (Tables)	3 Months Ended
Receivables, Prepaid Expenses, and Other Assets (Tables)	Jan. 31, 2023
Receivables, prepaid expenses and other assets [Abstract]
Receivables, Prepaid Expenses, and Other Assets [Table Text Block]	Receivables, prepaid expenses, and other assets at January 31, 2023 and October 31, 2022, consisted of the following (amounts in thousands): January 31, 2023 October 31, 2022 Expected recoveries from insurance carriers and others $ 36,654 $ 41,527 Improvement cost receivable 61,236 60,812 Escrow cash held by our wholly owned captive title company 47,274 51,796 Properties held for rental apartment and commercial development 230,691 224,593 Prepaid expenses 35,396 44,307 Right-of-use asset 121,381 116,660 Derivative assets 40,298 71,929 Other 102,732 135,604 $ 675,662 $ 747,228

Loans Payable, Senior Notes a_2

Loans Payable, Senior Notes and Mortgage Company Loan Facility Loans Payable (Tables)	3 Months Ended
	Jan. 31, 2023
Debt Disclosure [Abstract]
Loans Payable [Text Block]	At January 31, 2023 and October 31, 2022, loans payable consisted of the following (amounts in thousands): January 31, October 31, Senior unsecured term loan $ 650,000 $ 650,000 Loans payable – other 497,284 537,043 Deferred issuance costs (1,638) (1,768) $ 1,145,646 $ 1,185,275

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
Accrued Expenses (Tables)	Jan. 31, 2023
Payables and Accruals [Abstract]
Accrued expenses	Accrued expenses at January 31, 2023 and October 31, 2022 consisted of the following (amounts in thousands): January 31, October 31, Land, land development, and construction $ 352,549 $ 334,975 Compensation and employee benefits 147,807 223,609 Escrow liability associated with our wholly owned captive title company 40,965 44,115 Self-insurance 251,529 251,576 Warranty 156,895 164,409 Lease liabilities 143,714 139,664 Deferred income 46,540 50,973 Interest 34,654 31,988 Commitments to unconsolidated entities 28,276 26,905 Other 47,617 77,773 $ 1,250,546 $ 1,345,987
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 January 31, 2023 2022 Balance, beginning of period $ 164,409 $ 145,062 Additions – homes closed during the period 7,186 9,455 Change in accruals for homes closed in prior years – net 2,096 2,957 Charges incurred (16,796) (14,431) Balance, end of period $ 156,895 $ 143,043

Stock-Based Benefit Plans (Tabl

Stock-Based Benefit Plans (Tables)	3 Months Ended
Stock-Based Benefit Plans (Tables)	Jan. 31, 2023
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 January 31, 2023 2022 Total stock-based compensation expense recognized $ 14,384 $ 13,615 Income tax benefit recognized $ 3,638 $ 3,413

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
Stockholders' Equity (Tables)	Jan. 31, 2023
Stock Repurchase Program [Abstract]
Stock repurchase program	The table below provides, for the periods indicated, information about our share repurchase programs: Three months ended January 31, 2023 2022 Number of shares purchased (in thousands) 187 3,013 Average price per share $ 49.95 $ 61.65 Remaining authorization at January 31 (in thousands) 14,389 9,550
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The changes in each component of accumulated other comprehensive income (loss) (“AOCI”), for the periods indicated, were as follows (amounts in thousands): Three months ended January 31, 2023 2022 Employee Retirement Plans Beginning balance $ 2,475 $ (6,024) Gains reclassified from AOCI to net income (1) 23 451 Less: Tax benefit (2) (6) (113) Net gains reclassified from AOCI to net income 17 338 Other comprehensive income – net of tax 17 338 Ending balance $ 2,492 $ (5,686) Derivative Instruments Beginning balance $ 35,143 $ 7,133 (Losses) gains on derivative instruments (4,297) 5,748 Less: Tax benefit (expense) 1,086 (1,441) Net (losses) gains on derivative instruments (3,211) 4,307 (Losses) gains reclassified from AOCI to net income (3) (362) 76 Less: Tax expense (benefit) (2) 92 (19) Net (gains) losses reclassified from AOCI to net income (270) 57 Other comprehensive (loss) income – net of tax (3,481) 4,364 Ending balance $ 31,662 $ 11,497 Total AOCI ending balance $ 34,154 $ 5,811 (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)	3 Months Ended
Earnings Per Share Information (Tables)	Jan. 31, 2023
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 shares issued (amounts in thousands): Three months ended January 31, 2023 2022 Numerator: Net income as reported $ 191,530 $ 151,904 Denominator: Basic weighted-average shares 111,397 120,996 Common stock equivalents (1) 939 1,862 Diluted weighted-average shares 112,336 122,858 Other information: Weighted-average number of antidilutive options and restricted stock units (2) 501 204 Shares issued under stock incentive and employee stock purchase plans 1,334 408 (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)	3 Months Ended
Fair Value Disclosures (Tables)	Jan. 31, 2023
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 January 31, October 31, 2022 Residential Mortgage Loans Held for Sale Level 2 $ 82,518 $ 185,150 Forward Loan Commitments — Residential Mortgage Loans Held for Sale Level 2 $ 1,032 $ 9,184 Interest Rate Lock Commitments (“IRLCs”) Level 2 $ (2,359) $ (17,734) Forward Loan Commitments — IRLCs Level 2 $ 2,359 $ 17,734 Interest Rate Swap Contracts Level 2 $ 36,907 $ 45,010
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 January 31, 2023 $ 84,475 $ 82,518 $ (1,957) At October 31, 2022 $ 193,746 $ 185,150 $ (8,596)
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): January 31, 2023 October 31, 2022 Fair value Book value Estimated Book value Estimated Loans payable (1) Level 2 $ 1,147,284 $ 1,136,368 $ 1,187,043 $ 1,180,893 Senior notes (2) Level 1 2,000,000 1,920,095 2,000,000 1,822,255 Mortgage company loan facility (3) Level 2 71,187 71,187 148,863 148,863 $ 3,218,471 $ 3,127,650 $ 3,335,906 $ 3,152,011 (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)	3 Months Ended
Other Income - Net (Tables)	Jan. 31, 2023
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 January 31, 2023 2022 (Loss) income from ancillary businesses $ (2,949) $ 1,960 Management fee income from Land Development and Home Building Joint Ventures – net 1,403 1,338 Gain on litigation settlements – net 27,683 — Other 6,778 414 Total other income – net $ 32,915 $ 3,712
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 January 31, 2023 2022 Revenues $ 27,907 $ 27,697 Expenses $ 30,856 $ 25,737

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Jan. 31, 2023
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): January 31, 2023 October 31, 2022 Aggregate purchase price: Unrelated parties $ 4,009,091 $ 4,279,660 Unconsolidated entities that the Company has investments in 44,753 42,057 Total $ 4,053,844 $ 4,321,717 Deposits against aggregate purchase price $ 446,989 $ 463,452 Additional cash required to acquire land 3,606,855 3,858,265 Total $ 4,053,844 $ 4,321,717 Amount of additional cash required to acquire land included in accrued expenses $ 56,733 $ 34,994
Company mortgage commitments	Information regarding our mortgage commitments, as of the dates indicated, is provided in the table below (amounts in thousands): January 31, October 31, 2022 Aggregate mortgage loan commitments: IRLCs $ 588,052 $ 669,631 Non-IRLCs 2,105,078 2,429,063 Total $ 2,693,130 $ 3,098,694 Investor commitments to purchase: IRLCs $ 588,052 $ 669,631 Mortgage loans held for sale 73,974 186,666 Total $ 662,026 $ 856,297

Information on Segments (Tables

Information on Segments (Tables)	3 Months Ended
Information on Segments (Tables)	Jan. 31, 2023
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 January 31, 2023 2022 (restated) Revenues: North $ 322,794 $ 355,134 Mid-Atlantic 189,117 242,877 South 392,881 243,519 Mountain 480,212 462,300 Pacific 364,768 384,949 Total home building 1,749,772 1,688,779 Corporate and other (350) (1,427) 1,749,422 1,687,352 Land sales and other revenues 30,747 103,729 Total consolidated $ 1,780,169 $ 1,791,081 Income (loss) before income taxes: North $ 36,634 $ 45,667 Mid-Atlantic 22,923 33,448 South 52,446 22,577 Mountain 87,304 71,011 Pacific 78,978 63,055 Total home building 278,285 235,758 Corporate and other (24,489) (34,942) Total consolidated $ 253,796 $ 200,816 “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 business, 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): January 31, October 31, North $ 1,426,233 $ 1,464,995 Mid-Atlantic 1,095,413 1,049,043 South 2,309,441 2,137,568 Mountain 2,816,386 2,785,603 Pacific 2,326,785 2,174,065 Total home building 9,974,258 9,611,274 Corporate and other 2,010,625 2,677,440 Total consolidated $ 11,984,883 $ 12,288,714
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 January 31, 2023 2022 (restated) North $ 141 $ 325 Mid-Atlantic 1,240 441 South 451 143 Mountain 131 102 Pacific 6,041 1,222 Total consolidated $ 8,004 $ 2,233 We have also recognized $13.0 million of land impairment charges included in land sales and other cost of revenues during the three-month period ended January 31, 2023, of which $2.7 million and $10.3 million, were in our North and Mid-Atlantic segments, respectively. No similar charges were recognized during the three-month period ended January 31, 2022.

Supplemental Disclosure to Co_2

Supplemental Disclosure to Condensed Consolidated Statements of Cash Flows (Tables)	3 Months Ended
	Jan. 31, 2023
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): Three months ended January 31, 2023 2022 Cash flow information: Income tax paid – net $ 223,424 $ 94,577 Noncash activity: Cost of inventory acquired through seller financing, municipal bonds, or included in accrued expenses - net $ 33,086 $ 123,176 Accrued treasury share purchases $ — $ 57,699 Transfer of other assets to investment in unconsolidated entities, net $ 2,115 $ 36,154 Transfer of other assets to property, construction and office equipment - net $ 10,518 $ — Unrealized (loss) gain on derivatives $ (8,103) $ 6,022 At January 31, 2023 2022 Cash, cash equivalents, and restricted cash Cash and cash equivalents $ 791,609 $ 671,365 Restricted cash included in receivables, prepaid expenses, and other assets 47,274 52,946 Total cash, cash equivalents, and restricted cash shown on the Condensed Consolidated Statements of Cash Flows $ 838,883 $ 724,311

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Oct. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract liabilities consisting of customer deposits	$ 665,431		$ 680,588
Home Building [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract liabilities, revenue recognized	$ 122,900	$ 110,900

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Oct. 31, 2022
Total Inventory
Inventory	$ 9,099,485	$ 8,733,326
Land controlled for future communities [Member]
Total Inventory
Inventory	229,844	240,751
Land Owned for Future Communities [Member]
Total Inventory
Inventory	850,056	808,851
Operating communities [Member]
Total Inventory
Inventory	$ 8,019,585	$ 7,683,724

Inventory (Details 1)

Inventory (Details 1) - USD ($) $ in Thousands	3 Months Ended
Inventory (Details 1) - USD ($) $ in Thousands	Jan. 31, 2023	Jan. 31, 2022
Schedule of inventory [Line Items]
Inventory Write-down	$ 8,004	$ 2,233
Land and Land Improvements
Schedule of inventory [Line Items]
Inventory Write-down	13,000	0
Land controlled for future communities [Member]
Schedule of inventory [Line Items]
Inventory Write-down	2,604	793
Land Owned for Future Communities [Member]
Schedule of inventory [Line Items]
Inventory Write-down	0	1,440
Operating communities [Member]
Schedule of inventory [Line Items]
Inventory Write-down	$ 5,400	$ 0

Inventory (Details 2)

Inventory (Details 2) - USD ($) $ in Thousands	3 Months Ended
Inventory (Details 2) - USD ($) $ in Thousands	Jan. 31, 2023	Jan. 31, 2022
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest capitalized, beginning of period	$ 209,468	$ 253,938
Interest incurred	36,854	31,005
Interest capitalized on investments in unconsolidated entities	(2,463)	(1,290)
Real Estate Inventory Capitalized Interest Transferred to Unconsolidated Entities	(244)	0
Previously capitalized interest on investments in unconsolidated entities transferred to inventory	139	135
Interest capitalized, end of period	215,197	247,942
Home Building [Member]
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest expensed to cost of revenues	(25,080)	(32,437)
Land [Member]
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest expensed to cost of revenues	$ (3,477)	$ (3,409)

Inventory (Details Textual)

Inventory (Details Textual) $ in Thousands	3 Months Ended
Inventory (Details Textual) $ in Thousands	Jan. 31, 2023 USD ($)	Jan. 31, 2022 USD ($)	Oct. 31, 2022 USD ($)
Variable Interest Entity [Line Items]
Purchase obligation	$ 4,053,844		$ 4,321,717
Home Building [Member]
Real estate inventory capitalized interest costs [Line Items]
Interest expensed to cost of revenues	$ 25,080	$ 32,437
VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember [Member]
Variable Interest Entity [Line Items]
Number of VIE Land Purchase Contracts (in ones)	228		237
Interest Rate Swap [Member] \| Home Building [Member]
Real estate inventory capitalized interest costs [Line Items]
Interest expensed to cost of revenues	$ (362)	76
Interest Rate Swap [Member] \| AOCI Attributable to Parent [Member]
Real estate inventory capitalized interest costs [Line Items]
Interest costs incurred	(3,800)	$ 274
Land Purchase Commitment To Unrelated Party [Member]
Variable Interest Entity [Line Items]
Purchase obligation	4,009,091		$ 4,279,660
Land Purchase Commitment To Unrelated Party [Member] \| VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember [Member]
Variable Interest Entity [Line Items]
Purchase obligation	3,670,000		3,890,000
Land Parcel Purchase Commitment [Member]
Variable Interest Entity [Line Items]
Deposits against aggregate purchase commitments	446,989		463,452
Land Parcel Purchase Commitment [Member] \| VariableInterestEntityNotPrimaryBeneficiaryAggregatedDisclosureMember [Member]
Variable Interest Entity [Line Items]
Deposits against aggregate purchase commitments	$ 408,900		$ 417,600

Investments in Unconsolidated_3

Investments in Unconsolidated Entities (Details 1) $ in Thousands	Jan. 31, 2023 USD ($) joint_ventures	Oct. 31, 2022 USD ($) joint_ventures
Schedule of Equity Method Investments [Line Items]
Number of joint ventures \| joint_ventures	65	63
Investment in unconsolidated entities (1)	$ 908,949	$ 852,314
Number of joint venture with funding commitments \| joint_ventures	32	29
Other commitment	$ 308,303	$ 304,317
Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures \| joint_ventures	16	15
Investment in unconsolidated entities (1)	$ 355,513	$ 343,314
Number of joint venture with funding commitments \| joint_ventures	10	9
Home Building Joint Ventures, Total [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures \| joint_ventures	3	3
Investment in unconsolidated entities (1)	$ 66,555	$ 49,385
Number of joint venture with funding commitments \| joint_ventures	1	1
Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures \| joint_ventures	42	41
Investment in unconsolidated entities (1)	$ 469,358	$ 441,399
Number of joint venture with funding commitments \| joint_ventures	20	18
Gibraltar Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures \| joint_ventures	4	4
Investment in unconsolidated entities (1)	$ 17,523	$ 18,216
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	13	13
Investment in unconsolidated entities (1)	$ 103,200	$ 100,200
Other commitment	$ 104,000	$ 105,000
Variable Interest Entity, Not Primary Beneficiary [Member] \| Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest	20%	20%
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	$ 218,343	$ 180,812
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	1,255	20,072
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	76,914	90,900
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	11,791	12,533
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	$ 199,000	$ 200,000

Investments in Unconsolidated_4

Investments in Unconsolidated Entities (Details 2) $ in Thousands	Jan. 31, 2023 USD ($) joint_ventures	Oct. 31, 2022 USD ($) joint_ventures
Schedule of Equity Method Investments [Line Items]
Number of joint ventures with loan commitments \| joint_ventures	50	47
Line of credit facility, maximum borrowing capacity	$ 4,298,742	$ 4,094,096
Amounts borrowed under commitments	$ 2,432,321	$ 2,236,456
Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures with loan commitments \| joint_ventures	11	10
Line of credit facility, maximum borrowing capacity	$ 576,959	$ 557,185
Amounts borrowed under commitments	$ 467,999	$ 444,306
Home Building Joint Ventures, Total [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures with loan commitments \| joint_ventures	2	2
Line of credit facility, maximum borrowing capacity	$ 219,650	$ 219,650
Amounts borrowed under commitments	$ 40,355	$ 17,583
Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures with loan commitments \| joint_ventures	37	35
Line of credit facility, maximum borrowing capacity	$ 3,502,133	$ 3,317,261
Amounts borrowed under commitments	$ 1,923,967	$ 1,774,567

Investments in Unconsolidated_5

Investments in Unconsolidated Entities (Details 3) $ in Thousands	3 Months Ended
	Jan. 31, 2023 USD ($) joint_ventures	Jan. 31, 2022 USD ($) joint_ventures	Oct. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)	$ 908,949		$ 852,314
Variable Interest Entity, Primary Beneficiary [Member]
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)	91,300		81,300
Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)	355,513		343,314
Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)	469,358		441,399
Gibraltar Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated entities (1)	$ 17,523		$ 18,216
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	2
Investment in unconsolidated entities (1)	$ 8,676	$ 13,557
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	1	4
Investment in unconsolidated entities (1)	$ 3,215	$ 47,569
Newly Formed Joint Ventures [Member] \| Gibraltar 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)		$ 1,641

Investments in Unconsolidated_6

Investments in Unconsolidated Entities (Details 4) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jan. 31, 2023	Oct. 31, 2022
Schedule of Equity Method Investments [Line Items]
Line of credit facility, maximum borrowing capacity	$ 4,298,742	$ 4,094,096
Long-term line of credit	2,432,321	2,236,456
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)	95,000	95,000
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	18,200	16,900
Indirect Guarantee of Indebtedness [Member] \| Equity Method Investee [Member]
Schedule of Equity Method Investments [Line Items]
Line of credit facility, maximum borrowing capacity	3,044,300	2,858,800
Our maximum estimated exposure under repayment and carry cost guarantees if the full amount of the debt obligations were borrowed (1)	627,300	597,800
Long-term line of credit	1,288,500	1,110,900
Maximum repapyment and carry cost guarantee obligation for borrowings by JV	$ 418,800	$ 390,500
Indirect Guarantee of Indebtedness [Member] \| Equity Method Investee [Member] \| Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Terms of guarantees	1 month	1 month
Indirect Guarantee of Indebtedness [Member] \| Equity Method Investee [Member] \| Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Terms of guarantees	4.0 years	3.7 years

Investments in Unconsolidated_7

Investments in Unconsolidated Entities (Details 5) $ in Thousands	3 Months Ended
	Jan. 31, 2023 USD ($) joint_ventures	Jan. 31, 2022 USD ($) joint_ventures	Oct. 31, 2022 USD ($) joint_ventures
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures \| joint_ventures	65		63
Investment in unconsolidated entities (1)	$ 908,949		$ 852,314
Other commitment	$ 308,303		$ 304,317
Variable Interest Entity, Not Primary Beneficiary [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures \| joint_ventures	13		13
Investment in unconsolidated entities (1)	$ 103,200		$ 100,200
Other commitment	104,000		105,000
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	$ 199,000		$ 200,000
Rental Joint Ventures, including the Trust [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures \| joint_ventures	42		41
Investment in unconsolidated entities (1)	$ 469,358		$ 441,399
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)	$ 3,215	$ 47,569
Number of JVs formed in the period \| joint_ventures	1	4
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	$ 76,914		$ 90,900
Land Development Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures \| joint_ventures	16		15
Investment in unconsolidated entities (1)	$ 355,513		$ 343,314
Land Development Joint Ventures [Member] \| Newly Formed Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Investment in unconsolidated entities (1)	$ 8,676	$ 13,557
Number of JVs formed in the period \| joint_ventures	1	2
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	$ 218,343		$ 180,812
Gibraltar Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Number of joint ventures \| joint_ventures	4		4
Investment in unconsolidated entities (1)	$ 17,523		$ 18,216
Gibraltar Joint Ventures [Member] \| Newly Formed Joint Ventures [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Investment in unconsolidated entities (1)		$ 1,641
Number of JVs formed in the period \| joint_ventures		1
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	$ 11,791		$ 12,533
Minimum [Member] \| Variable Interest Entity, Not Primary Beneficiary [Member]
Investments in and Advances to Unconsolidated Entities (Textual) [Abstract]
Ownership interest	20%		20%
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	Jan. 31, 2023 USD ($) joint_ventures	Oct. 31, 2022 USD ($) joint_ventures
Statement of Investments in and Advances to Unconsolidated Entities [Line Items]
Number of joint ventures \| joint_ventures	65	63
Investment in unconsolidated entities (1)	$ 908,949	$ 852,314
Total assets	$ 11,984,883	$ 12,288,714
Variable Interest Entity, Primary Beneficiary [Member]
Statement of Investments in and Advances to Unconsolidated Entities [Line Items]
Number of joint ventures \| joint_ventures	6	5
Investment in unconsolidated entities (1)	$ 91,300	$ 81,300
Noncontrolling Interest in Variable Interest Entity	$ 9,600	$ 9,700
Variable Interest Entity, Primary Beneficiary [Member] \| Minimum [Member]
Statement of Investments in and Advances to Unconsolidated Entities [Line Items]
Ownership interest	80%
Variable Interest Entity, Primary Beneficiary [Member] \| Maximum [Member]
Statement of Investments in and Advances to Unconsolidated Entities [Line Items]
Ownership interest	98%

Investments in Unconsolidated_9

Investments in Unconsolidated Entities (Details 7) - USD ($) $ in Thousands	Jan. 31, 2023	Oct. 31, 2022	Jan. 31, 2022	Oct. 31, 2021
Condensed Balance Sheets:
Total cash, cash equivalents, and restricted cash shown on the Condensed Consolidated Statements of Cash Flows	$ 838,883	$ 1,398,550	$ 724,311	$ 1,684,412
Inventory	9,099,485	8,733,326
Other	102,732	135,604
Total assets	11,984,883	12,288,714
Stockholders' Equity Attributable to Noncontrolling Interest	15,647	15,752
Total liabilities and stockholders' equity	11,984,883	12,288,714
Investments in unconsolidated entities	908,949	852,314
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity	(17,500)	(18,500)
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Condensed Balance Sheets:
Total cash, cash equivalents, and restricted cash shown on the Condensed Consolidated Statements of Cash Flows	245,014	254,884
Inventory	1,311,563	1,256,215
Loans Receivable, Net	48,342	48,217
Rental Properties	1,795,600	1,702,690
Rental properties under development	1,498,838	1,413,607
Other	361,197	305,250
Total assets	5,260,554	4,980,863
Debt, net of deferred financing costs	2,421,511	2,248,754
Accrued Liabilities and Other Liabilities	393,811	399,818
Members' Equity	2,445,232	2,332,291
Total liabilities and stockholders' equity	5,260,554	4,980,863
Investments in unconsolidated entities	$ 908,949	$ 852,314

Investments in Unconsolidate_10

Investments in Unconsolidated Entities (Details 8) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Condensed Statements of Operations and Comprehensive Income:
Income before income taxes	$ 253,796	$ 200,816
Income Tax Expense (Benefit)	62,266	48,912
Net Income (Loss) Attributable to Noncontrolling Interest	105	(21)
Net income	191,530	151,904
Income (loss) from equity method investments	(4,433)	22,037
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Condensed Statements of Operations and Comprehensive Income:
Revenues	109,270	155,752
Cost of Revenue	59,353	108,483
Other Cost and Expense, Operating	63,074	43,603
Costs and Expenses	122,427	152,086
Income From Non Performing Loan Portfolios and Foreclosed Real Estate	0	(113)
Income before income taxes	(13,157)	3,553
Other Income	(1,356)	33,347
Net Income Before Noncontrolling Interest	(14,513)	36,900
Income Tax Expense (Benefit)	(18)	83
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(14,495)	36,817
Income (loss) from equity method investments	$ (4,433)	22,037
Gain (Loss) on Disposition of Property Plant Equipment		$ 29,900

Investments in Unconsolidate_11

Investments in Unconsolidated Entities (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Oct. 31, 2022
Schedule of Equity Method Investments [Line Items]
Line of credit facility, maximum borrowing capacity	$ 4,298,742		$ 4,094,096
Long-term line of credit	2,432,321		2,236,456
Investment in unconsolidated entities (1)	908,949		$ 852,314
Revenues	1,780,169	$ 1,791,081
Land [Member]
Schedule of Equity Method Investments [Line Items]
Revenues	$ 30,747	$ 103,729

Investments in Unconsolidate_12

Investments in Unconsolidated Entities (Details Textual 1) $ in Thousands	3 Months Ended
	Jan. 31, 2023 USD ($) joint_ventures	Jan. 31, 2022 USD ($)	Oct. 31, 2022 USD ($) joint_ventures
Schedule of Equity Method Investments [Line Items]
Number of joint ventures \| joint_ventures	65		63
Line of credit facility, maximum borrowing capacity	$ 4,298,742		$ 4,094,096
Proceeds from Equity Method Investment, Distribution	1,460	$ 23,502
Long-term line of credit	2,432,321		2,236,456
Total assets	$ 11,984,883		$ 12,288,714
Co-venturer [Member] \| Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	5%
Co-venturer [Member] \| Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50%
Land Development Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures \| joint_ventures	16		15
Land Development Joint Ventures [Member] \| Equity Method Investee [Member]
Schedule of Equity Method Investments [Line Items]
Revenues	$ 16,700	23,800
Rental Joint Ventures, including the Trust [Member]
Schedule of Equity Method Investments [Line Items]
Number of joint ventures \| joint_ventures	42		41
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	21,000
Land sales earnings, net	8,200	78,000
Home Building Joint Ventures, Total [Member]
Schedule of Equity Method Investments [Line Items]
Other than Temporary Impairment Losses, Investments	$ 0	$ 0

Receivables, Prepaid Expenses_3

Receivables, Prepaid Expenses, and Other Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Oct. 31, 2022
Receivables, prepaid expenses and other assets [Abstract]
Expected recoveries from insurance carriers and others	$ 36,654	$ 41,527
Improvement cost receivable	61,236	60,812
Escrow cash held by our wholly owned captive title company	47,274	51,796
Properties held for rental apartment and commercial development	230,691	224,593
Prepaid expenses	35,396	44,307
Right-of-use asset	121,381	116,660
Derivative assets	40,298	71,929
Other	102,732	135,604
Receivables, prepaid expenses and other assets	$ 675,662	$ 747,228
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets	Prepaid Expense and Other Assets

Loans Payable, Senior Notes a_3

Loans Payable, Senior Notes and Mortgage Company Loan Facility Loans Payable (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Oct. 31, 2022
Debt Instrument [Line Items]
Other Loans Payable	$ 497,284	$ 537,043
Loans payable	1,145,646	1,185,275
Senior unsecured term loan [Member]
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent	650,000	650,000
Deferred Finance Costs, Net	$ (1,638)	$ (1,768)

Loans Payable, Senior Notes a_4

Loans Payable, Senior Notes and Mortgage Company Loan Facility Term Loan Facility (Details Textual 1) $ in Thousands	3 Months Ended
	Jan. 31, 2023 USD ($)	Feb. 14, 2023 USD ($)	Oct. 31, 2022 USD ($)	Oct. 31, 2021 USD ($)	Nov. 30, 2020 USD ($) numberOfInterestRateSwaps
Senior unsecured term loan due November 1 2026
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	0.80%
Senior unsecured term loan due November 1 2026
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent	$ 650,000			$ 548,400
Debt Instrument, Interest Rate at Period End	5.37%
Senior unsecured term loan due November 1 2026 \| Debt Instrument, Redemption, Period Four \| Subsequent Event [Member]
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 November 1 2025 \| Debt Instrument, Redemption, Period Four \| Subsequent Event [Member]
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent		101,600
Senior unsecured term loan due February 14 2028 \| Subsequent Event [Member]
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	3 Months Ended
	Jan. 31, 2023	Feb. 14, 2023	Oct. 31, 2022	Oct. 31, 2021
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 4,298,742		$ 4,094,096
Long-term line of credit	2,432,321		$ 2,236,456
Oct 2021 Revolving Credit Facility Extension Agreement
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,905,000			$ 1,780,000
Maximum Permissible Leverage Ratio	175%
Minimum Net Worth Required for Compliance	$ 4,000,000
Existing Leverage Ratio	0.38
Tangible Net Worth	$ 6,150,000
Ability to repurchase common stock	3,550,000
Ability to pay dividends	2,150,000
Long-term line of credit	0
Letters of Credit Outstanding, Amount	$ 120,400
Debt Instrument, Interest Rate at Period End	5.67%
Feb 2023 Revolving Credit Facility Extension Agreement \| Subsequent Event [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,905,000

Loans Payable, Senior Notes a_6

Loans Payable, Senior Notes and Mortgage Company Loan Facility Loans Payable - Other (Details Textual 3)	Jan. 31, 2023
Loans Payable [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	4.19%

Loans Payable, Senior Notes a_7

Loans Payable, Senior Notes and Mortgage Company Loan Facility Senior Notes Payable (Details Textual 4) $ in Thousands		3 Months Ended
	Nov. 15, 2021 USD ($)	Jan. 31, 2023 USD ($) debtissuances	Jan. 31, 2022 USD ($)	Oct. 31, 2022 USD ($)
Senior Note Payable (Textual) [Abstract]
Number of issuances of senior debt \| debtissuances		5
Repayments of Senior Debt		$ 0	$ 409,856
Senior notes		1,995,439		$ 1,995,271
Senior Notes [Member]
Senior Note Payable (Textual) [Abstract]
Debt Instrument, Face Amount		$ 2,000,000
5.875% Senior Notes due 2022
Senior Note Payable (Textual) [Abstract]
Repayments of Senior Debt	$ 409,900
Interest rate on notes			5.875%

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
	Apr. 30, 2022	Jan. 31, 2023	Oct. 31, 2022
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 4,298,742	$ 4,094,096
Warehouse Agreement Borrowings [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity		75,000
Line of credit facility, maximum borrowing capacity		$ 150,000
Debt Instrument, Interest Rate, Effective Percentage		6.26%
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%

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Oct. 31, 2022	Jan. 31, 2022	Oct. 31, 2021
Accrued expenses
Land, land development, and construction	$ 352,549	$ 334,975
Compensation and employee benefits	147,807	223,609
Escrow liability associated with our wholly owned captive title company	40,965	44,115
Self-insurance	251,529	251,576
Warranty	156,895	164,409	$ 143,043	$ 145,062
Lease Liabilities	$ 143,714	$ 139,664
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses, Total	Accrued expenses, Total
Deferred income	$ 46,540	$ 50,973
Interest	34,654	31,988
Commitments to unconsolidated entities	28,276	26,905
Other	47,617	77,773
Accrued expenses, Total	$ 1,250,546	$ 1,345,987

Accrued Expenses (Detail Textua

Accrued Expenses (Detail Textuals) - USD ($) $ in Thousands	45 Months Ended
Accrued Expenses (Detail Textuals) - USD ($) $ in Thousands	Jul. 31, 2020	Jan. 31, 2023	Oct. 31, 2022	Jan. 31, 2022	Oct. 31, 2021	Oct. 31, 2019
Loss Contingencies [Line Items]
Standard and Extended Product Warranty Accrual		$ 156,895	$ 164,409	$ 143,043	$ 145,062
Loss Contingency, Receivable		36,654	41,527
Water intrusion related [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss						$ 324,400
Standard and Extended Product Warranty Accrual		$ 45,600	$ 46,900
Other Assets [Member] \| Water intrusion related [Member]
Loss Contingencies [Line Items]
Product Liability Contingency, Third Party Recovery	$ 152,600

Accrued Expenses (Details 1)

Accrued Expenses (Details 1) - USD ($) $ in Thousands	3 Months Ended
Accrued Expenses (Details 1) - USD ($) $ in Thousands	Jan. 31, 2023	Jan. 31, 2022
Changes in the warranty accrual
Balance, beginning of year	$ 164,409	$ 145,062
Additions - homes closed during the period	7,186	9,455
Charges incurred	(16,796)	(14,431)
Balance, end of year	156,895	143,043
Warranty change, homes closed in prior period, other [Member]
Changes in the warranty accrual
Increase in accruals for homes closed in prior years - net	$ 2,096	$ 2,957

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Thousands	Jan. 31, 2023	Jan. 31, 2022	Oct. 31, 2022
Income Taxes (Textual) [Abstract]
Income tax provision	$ 62,266	$ 48,912
Effective Income Tax Rate Reconciliation, Percent	24.50%	24.40%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	5.70%		5.60%
Unrecognized Tax Benefits	$ 5,300

Stock-Based Benefit Plans (Deta

Stock-Based Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense recognized	$ 14,384	$ 13,615
Income tax benefit recognized	$ 3,638	$ 3,413

Stock-Based Benefit Plans (De_2

Stock-Based Benefit Plans (Details Textual) - USD ($) $ in Millions	Jan. 31, 2023	Oct. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized value of unvested stock-based compensation awards	$ 25.7	$ 15.5

Stockholders' Equity (Details)

Stockholders' Equity (Details) - $ / shares shares in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Stock Repurchase Program [Abstract]
Number of shares purchased	187	3,013
Average price per share	$ 49.95	$ 61.65
Remaining authorization at January 31:	14,389	9,550

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - $ / shares shares in Millions	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	May 17, 2022	Oct. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, dividends, declared and paid (in dollars per share)	$ 0.20	$ 0.17
December 2019 Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, number of shares authorized to be repurchased (in shares)				20
May 2022 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

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - USD ($) $ in Thousands	3 Months Ended
Stockholders' Equity (Details 1) - USD ($) $ in Thousands	Jan. 31, 2023	Jan. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 37,618
Other Comprehensive Income (Loss), Net of Tax	(3,464)	$ 4,702
Ending balance	34,154	5,811
Total AOCI ending balance	34,154	5,811
Defined Benefit Plan, Unfunded Plan [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,475	(6,024)
Gains reclassified from AOCI to net income (1)	23	451
Less: Tax benefit (2)	(6)	(113)
Net gains reclassified from AOCI to net income	17	338
Other Comprehensive Income (Loss), Net of Tax	17	338
Ending balance	2,492	(5,686)
Total AOCI ending balance	2,492	(5,686)
Interest Rate Swap [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	35,143	7,133
Other Comprehensive Income (Loss), Net of Tax	(3,481)	4,364
Ending balance	31,662	11,497
(Losses) gains on derivative instruments	(4,297)	5,748
Less: Tax benefit (expense)	1,086	(1,441)
Net (losses) gains on derivative instruments	(3,211)	4,307
(Losses) gains reclassified from AOCI to net income (3)	(362)	76
Less: Tax expense (benefit) (2)	92	(19)
Net (gains) losses reclassified from AOCI to net income	(270)	57
Total AOCI ending balance	$ 31,662	$ 11,497

Earnings Per Share Informatio_2

Earnings Per Share Information (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Earnings Per Share [Abstract]
Net income as reported	$ 191,530	$ 151,904
Basic weighted-average shares (in shares)	111,397	120,996
Common stock equivalents (in shares)	939	1,862
Diluted weighted-average shares (in shares)	112,336	122,858
Debt Instrument [Line Items]
Shares issued under stock incentive and employee stock purchase plans (in shares)	1,334	408
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)	501	204

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	Jan. 31, 2023	Oct. 31, 2022
Forward Contracts [Member] \| Residential Mortgage [Member]
Summary of assets and (liabilities), measured at fair value on a recurring basis
Derivative Asset	$ 1,032	$ 9,184
Interest Rate Swap [Member]
Summary of assets and (liabilities), measured at fair value on a recurring basis
Derivative Asset	36,907	45,010
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	82,518	185,150
Interest Rate Lock Commitments [Member] \| Forward Contracts [Member]
Summary of assets and (liabilities), measured at fair value on a recurring basis
Derivative Asset	2,359	17,734
Interest Rate Lock Commitments [Member]
Summary of assets and (liabilities), measured at fair value on a recurring basis
Derivative Liability	$ (2,359)	$ (17,734)

Fair Value Disclosures (Level_2

Fair Value Disclosures (Level 4 loan UPB vs FV) (Details 1) - USD ($) $ in Thousands	Jan. 31, 2023	Oct. 31, 2022
Aggregate unpaid principal and fair value of mortgage loans held for sale
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 82,518	$ 185,150
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	84,475	193,746
Mortgage Loans on Real Estate, Commercial and Consumer, Net	82,518	185,150
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables	$ (1,957)	$ (8,596)

Fair Value Disclosures (Level_3

Fair Value Disclosures (Level 4 debt fv) (Details 2) - USD ($) $ in Thousands	Jan. 31, 2023	Oct. 31, 2022
Book value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 3,218,471	$ 3,335,906
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	1,147,284	1,187,043
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	71,187	148,863
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	2,000,000	2,000,000
Estimate fair value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	3,127,650	3,152,011
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	1,136,368	1,180,893
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	71,187	148,863
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	$ 1,920,095	$ 1,822,255

Fair Value Disclosures (Details

Fair Value Disclosures (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Fair value inputs, assets, quantitative information [Line Items]
Inventory Write-down	$ 8,004	$ 2,233
Land Owned for Future Communities [Member]
Fair value inputs, assets, quantitative information [Line Items]
Inventory Write-down	$ 0	$ 1,440

Other Income - Net (Details)

Other Income - Net (Details) - USD ($) $ in Thousands	3 Months Ended
Other Income - Net (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Jan. 31, 2022
Other Nonoperating Income By Component [Line Items]
(Loss) income from ancillary businesses	$ (2,949)	$ 1,960
Management fee income from Land Development and Home Building Joint Ventures – net	1,780,169	1,791,081
Other	6,778	414
Total other income - net	32,915	3,712
Revenues and expenses of non-core ancillary businesses
Revenues	27,907	27,697
Expenses	30,856	25,737
Other Income
Other Nonoperating Income By Component [Line Items]
Gain (Loss) Related to Litigation Settlement	27,683	0
Management Fee [Member]
Other Nonoperating Income By Component [Line Items]
Management fee income from Land Development and Home Building Joint Ventures – net	$ 1,403	$ 1,338

Other Income - Net (Details Tex

Other Income - Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Schedule of Equity Method Investments [Line Items]
Income from Ancillary Businesses, net	$ (2,949)	$ 1,960
Apartment living [Member]
Schedule of Equity Method Investments [Line Items]
Income from Ancillary Businesses, net	$ 6,200	$ 4,800

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Oct. 31, 2022
Company's land purchase commitments
Purchase obligation	$ 4,053,844	$ 4,321,717
Land Purchase Commitment To Unrelated Party [Member]
Company's land purchase commitments
Purchase obligation	4,009,091	4,279,660
Land Purchase Commitment To JV [Member]
Company's land purchase commitments
Purchase obligation	44,753	42,057
Land Parcel Purchase Commitment [Member]
Company's land purchase commitments
Deposits against aggregate purchase commitments	446,989	463,452
Additional cash required to acquire land	3,606,855	3,858,265
Amount of Additional Cash Required to Acquire Land Included in Accrued Expenses	$ 56,733	$ 34,994

Commitments and Contingencies_3

Commitments and Contingencies (Details Textual 1) $ in Thousands	Jan. 31, 2023 USD ($) home_sites	Oct. 31, 2022 USD ($)
Long-term Purchase Commitment [Line Items]
Purchase obligation	$ 4,053,844	$ 4,321,717
Minimum [Member] \| Co-venturer [Member]
Long-term Purchase Commitment [Line Items]
Equity Method Investment, Ownership Percentage	5%
Land for Apartment Development Purchase Commitment [Member]
Long-term Purchase Commitment [Line Items]
Purchase obligation	$ 278,700
Deposits against aggregate purchase commitments	$ 11,800
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	7,200

Commitments and Contingencies_4

Commitments and Contingencies (Details Textual 2) $ in Thousands	Jan. 31, 2023 USD ($) luxury_homes
Backlog Information [Abstract]
Number of homes to be delivered (in ones) \| luxury_homes	7,733
Aggregate sales value of outstanding homes to be delivered	$ 8,580,000
Oct 2021 Revolving Credit Facility Extension Agreement
Loss Contingencies [Line Items]
Outstanding letter of credit	120,400
Surety Bond Construction Improvements [Member]
Loss Contingencies [Line Items]
Outstanding Surety Bonds Amount	812,300
Amount of work remains on improvements in the Company's various communities	371,500
Surety Bond Other Obligations [Member]
Loss Contingencies [Line Items]
Additional outstanding surety bonds	271,300
Financial Guarantee
Loss Contingencies [Line Items]
Outstanding Surety Bonds Amount	$ 25,700

Commitments and Contingencies_5

Commitments and Contingencies (Details 1) - Loan Origination Commitments [Member] - USD ($) $ in Thousands	Jan. 31, 2023	Oct. 31, 2022
Company's mortgage commitments
Unused Commitments to Extend Credit	$ 2,693,130	$ 3,098,694
Investor commitments to purchase	662,026	856,297
Interest Rate Lock Commitments [Member]
Company's mortgage commitments
Unused Commitments to Extend Credit	588,052	669,631
Investor commitments to purchase	588,052	669,631
Non Interest Rate Lock Commitments [Member]
Company's mortgage commitments
Unused Commitments to Extend Credit	2,105,078	2,429,063
Mortgage Receivable [Member]
Company's mortgage commitments
Investor commitments to purchase	$ 73,974	$ 186,666

Information on Segments (Detail

Information on Segments (Details) - USD ($) $ in Thousands	3 Months Ended
Information on Segments (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Jan. 31, 2022	Oct. 31, 2022
Revenues
Revenues	$ 1,780,169	$ 1,791,081
Income (loss) before income taxes
Income before income taxes	253,796	200,816
Total assets
Total assets	11,984,883		$ 12,288,714
Inventory Write-down	8,004	2,233
Corporate and other [Member]
Revenues
Revenues	(350)	(1,427)
Income (loss) before income taxes
Income before income taxes	(24,489)	(34,942)
Total assets
Total assets	2,010,625		2,677,440
Traditional Homebuilding [Member]
Revenues
Revenues	1,749,772	1,688,779
Income (loss) before income taxes
Income before income taxes	278,285	235,758
Total assets
Total assets	9,974,258		9,611,274
Inventory Write-down	8,004	2,233
North [Member] \| Traditional Homebuilding [Member]
Revenues
Revenues	322,794	355,134
Income (loss) before income taxes
Income before income taxes	36,634	45,667
Total assets
Total assets	1,426,233		1,464,995
Inventory Write-down	141	325
Mid-Atlantic [Member] \| Traditional Homebuilding [Member]
Revenues
Revenues	189,117	242,877
Income (loss) before income taxes
Income before income taxes	22,923	33,448
Total assets
Total assets	1,095,413		1,049,043
Inventory Write-down	1,240	441
South [Member] \| Traditional Homebuilding [Member]
Revenues
Revenues	392,881	243,519
Income (loss) before income taxes
Income before income taxes	52,446	22,577
Total assets
Total assets	2,309,441		2,137,568
Inventory Write-down	451	143
Mountain [Member] \| Traditional Homebuilding [Member]
Revenues
Revenues	480,212	462,300
Income (loss) before income taxes
Income before income taxes	87,304	71,011
Total assets
Total assets	2,816,386		2,785,603
Inventory Write-down	131	102
Pacific [Member] \| Traditional Homebuilding [Member]
Revenues
Revenues	364,768	384,949
Income (loss) before income taxes
Income before income taxes	78,978	63,055
Total assets
Total assets	2,326,785		$ 2,174,065
Inventory Write-down	6,041	1,222
Home Building [Member]
Revenues
Revenues	1,749,422	1,687,352
Land [Member]
Revenues
Revenues	30,747	103,729
Land and Land Improvements
Total assets
Inventory Write-down	13,000	$ 0
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	$ 10,300

Supplemental Disclosure to Co_3

Supplemental Disclosure to Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Oct. 31, 2022	Oct. 31, 2021
Cash flow information:
Income tax paid – net	$ 223,424	$ 94,577
Noncash activity:
Cost of inventory acquired through seller financing, municipal bonds, or included in accrued expenses - net	33,086	123,176
Accrued treasury share purchases	0	57,699
Transfer of other assets to investment in unconsolidated entities, net	2,115	36,154
Transfer of other assets to property, construction and office equipment - net	10,518	0
Unrealized (loss) gain on derivatives	(8,103)	6,022
Cash, cash equivalents, and restricted cash
Cash and cash equivalents	791,609	671,365	$ 1,346,754
Restricted cash included in receivables, prepaid expenses, and other assets	47,274	52,946
Total cash, cash equivalents, and restricted cash shown on the Condensed Consolidated Statements of Cash Flows	$ 838,883	$ 724,311	$ 1,398,550	$ 1,684,412