| Nov'19 | Nov'18 | Nov'17 | Nov'16 | Nov'15 | Nov'14 | Nov'13 | Nov'12 | Nov'11 | Nov'10 | Nov'09 | Nov'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
268,775 | 170,365 | 180,595 | 105,615 | 84,643 | 918,349 | 39,963 | -58,953 | -178,768 | -69,368 | -101,784 | -976,131 |
Adjustments to reconcile net income to net cash used in operating activities: | |||||||||||
Income (Loss) from Equity Method Investments | |||||||||||
10,681 | 9,367 | 2,825 | -5,601 | 2,488 | 1,427 | -933 | 1,797 | -36,553 | 772 | -35,600 | -135,210 |
Distributions of earnings from unconsolidated joint ventures | |||||||||||
6,450 | 9,047 | 0 | 0 | 0 | 364 | 1,949 | 3,316 | 8,703 | 20,410 | 7,662 | 22,183 |
Loss on loan guaranty | |||||||||||
- | - | - | - | - | - | - | - | 30,765 | 0 | - | - |
Gain (Loss) on Disposition of Assets | |||||||||||
- | - | - | - | - | - | - | - | 8,825 | - | - | - |
Gain on sale of operating property | |||||||||||
- | - | - | - | - | - | - | - | - | 0 | - | - |
Amortization of discounts, premiums and issuance costs | |||||||||||
4,426 | 6,232 | 6,573 | 7,576 | 7,738 | 7,124 | 5,347 | 3,016 | 2,150 | 2,149 | 1,586 | 2,062 |
Depreciation and amortization | |||||||||||
27,200 | 2,500 | 2,800 | 3,637 | 3,411 | 2,420 | 1,857 | 1,622 | 2,031 | 3,289 | 5,235 | 9,317 |
Deferred income taxes | |||||||||||
-73,303 | -191,817 | -105,348 | -43,211 | -43,036 | 825,232 | 0 | -1,152 | 0 | 0 | - | - |
Gain (Loss) on Extinguishment of Debt | |||||||||||
-6,800 | 0 | -5,685 | 0 | 0 | - | -10,448 | -10,278 | 3,612 | -1,802 | -976 | - |
Loss on voluntary termination of revolving credit facility/early redemption of debt | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -10,388 |
Provision for deferred income taxes | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 221,306 |
Excess tax benefits from stock-based compensation | |||||||||||
0 | 0 | 958 | 186 | 157 | 0 | 0 | - | - | 583 | -4,093 | -2,097 |
Stock-based compensation | |||||||||||
18,312 | 15,861 | 14,633 | 16,850 | 17,143 | 9,099 | 5,699 | 6,713 | 8,054 | 8,074 | 3,977 | 5,018 |
Inventory impairments and land option contract abandonments | |||||||||||
17,291 | 28,994 | 25,232 | 52,812 | 9,591 | 39,431 | 3,581 | 28,533 | 25,791 | 19,925 | 168,149 | 606,791 |
Goodwill impairment | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 67,970 |
Changes in assets and liabilities: | |||||||||||
Receivables | |||||||||||
-44,428 | 49,778 | 12,508 | -18,965 | -9,143 | 4,998 | 11,153 | -24,994 | 2,220 | -211,318 | -35,667 | 60,565 |
Inventories | |||||||||||
165,347 | 270,126 | -126,085 | 98,321 | -34,852 | 780,131 | 563,189 | -30,347 | 12,345 | 129,334 | -433,075 | -545,850 |
Accounts payable, accrued expenses and other liabilities | |||||||||||
-40,583 | 126,710 | 66,594 | 32,723 | -27,615 | 9,219 | 59,763 | -2,143 | -253,547 | -199,205 | -252,620 | -282,781 |
Other, net | |||||||||||
-710 | 773 | 4,026 | -172 | -1,888 | 4,909 | -1,316 | 12,461 | 2,275 | 1,669 | -8,296 | -32,607 |
Net Cash Provided by (Used in) Operating Activities | |||||||||||
251,042 | 221,512 | 513,219 | 188,655 | 181,185 | -630,691 | -443,486 | 34,617 | -347,545 | -133,964 | 349,912 | 341,322 |
Cash flows from investing activities: | |||||||||||
Contributions to unconsolidated joint ventures | |||||||||||
11,290 | 22,671 | 18,694 | 5,602 | 20,626 | 49,097 | 14,359 | -989 | 67,260 | 15,669 | 19,922 | 59,625 |
Return of investments in unconsolidated joint ventures | |||||||||||
5,001 | 9,934 | 11,035 | 4,307 | 14,000 | 0 | 0 | - | - | - | - | - |
Proceeds from sale of building | |||||||||||
5,804 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from sale of investment in unconsolidated joint venture | |||||||||||
- | - | - | - | - | 10,110 | 0 | 0 | - | - | - | - |
Proceeds from sale of operating property | |||||||||||
- | - | - | - | - | - | - | - | 80,600 | 0 | - | - |
Purchases of property and equipment, net | |||||||||||
40,459 | 7,370 | 8,085 | 4,784 | 4,677 | 5,795 | 2,391 | 1,749 | 242 | 420 | 1,375 | -7,073 |
Net cash used in investing activities | |||||||||||
-40,944 | -20,107 | -15,744 | -6,079 | -11,303 | -44,782 | -16,750 | -760 | 13,098 | -16,089 | -21,297 | -52,552 |
Cash flows from financing activities: | |||||||||||
Proceeds from issuance of debt | |||||||||||
705,250 | 0 | 0 | - | 250,000 | 400,000 | 680,000 | 694,831 | 0 | 0 | 259,737 | - |
Issuance costs for unsecured revolving credit facility | |||||||||||
11,128 | 0 | 1,711 | 0 | 4,561 | 5,448 | 16,525 | 12,445 | 0 | 0 | 4,294 | - |
Proceeds from (Repayments of) Restricted Cash, Financing Activities | |||||||||||
- | - | - | 9,344 | 17,891 | 14,671 | 456 | 22,119 | 50,996 | -1,185 | 1,112 | -115,404 |
Repayment of senior notes | |||||||||||
986,231 | 300,000 | 270,326 | 0 | 199,906 | 0 | 225,394 | 592,645 | 100,000 | 0 | 453,105 | 305,814 |
Borrowings under revolving credit facility | |||||||||||
610,000 | 70,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Repayments under revolving credit facility | |||||||||||
610,000 | 70,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Payments on mortgages and land contracts due to land sellers and other loans | |||||||||||
-41,116 | -14,751 | -106,382 | -67,845 | -22,877 | -36,918 | -66,296 | -26,298 | -89,461 | -101,154 | -78,983 | -12,800 |
Proceeds from issuance of common stock, net | |||||||||||
- | - | - | - | - | 137,045 | 109,503 | 0 | 0 | - | - | - |
Issuance of common stock under employee stock plans | |||||||||||
30,524 | 20,011 | 23,162 | 5,343 | 740 | 1,896 | 2,181 | 593 | 1,796 | 1,851 | 3,074 | 6,958 |
Excess Tax Benefit from Share-based Compensation, Financing Activities | |||||||||||
0 | 0 | 958 | 186 | 157 | 0 | 0 | - | - | 583 | 0 | - |
Stock repurchases | |||||||||||
0 | 35,039 | 0 | 85,938 | 567 | 546 | 8,488 | 1,799 | 0 | 350 | 616 | 967 |
Payment, Tax Withholding, Share-based Payment Arrangement | |||||||||||
7,288 | 8,476 | 6,673 | 2,421 | - | - | - | - | - | - | - | - |
Payments of cash dividends | |||||||||||
20,370 | 8,892 | 8,642 | 8,586 | 9,186 | 8,982 | 8,366 | 10,599 | 19,240 | 19,223 | 19,097 | 62,967 |
Net cash provided by (used in) financing activities | |||||||||||
-330,359 | -347,147 | -369,614 | -149,917 | 31,691 | 501,718 | 467,071 | 73,757 | -155,909 | -119,478 | -292,172 | -490,994 |
Net decrease in cash and cash equivalents | |||||||||||
-120,261 | -145,742 | 127,861 | 32,659 | 201,573 | -173,755 | 6,835 | 107,614 | -490,356 | -269,531 | 36,443 | -202,224 |