Toll brothers, inc. (TOL)
CashFlow / Quarterly
Jan'20Oct'19Jul'19Apr'19Jan'19Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11Jan'11Oct'10Jul'10Apr'10Jan'10
Cash flow provided by (used in) operating activities:
Net Income (Loss) Attributable to Parent

56,876

202,315

146,318

129,324

112,050

310,976

193,258

111,810

132,107

191,878

148,563

124,638

70,416

114,378

105,483

89,054

73,180

147,163

66,749

67,930

81,325

131,524

97,706

65,222

45,580

94,905

46,595

24,674

4,432

411,417

61,643

16,872

-2,786

15,043

42,108

-20,773

3,417

50,479

27,302

-40,401

-40,754

Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization

14,667

20,726

18,109

17,645

15,669

6,535

6,204

6,349

6,171

6,938

6,300

6,093

6,030

6,283

5,809

5,496

5,533

5,890

5,895

5,963

5,809

6,309

5,595

5,806

5,289

6,073

6,369

6,243

6,525

6,063

5,825

5,469

5,229

6,019

6,786

5,950

4,387

6,089

4,930

4,539

4,486

Stock-based compensation

13,383

6,829

5,435

5,331

8,585

6,433

6,532

6,458

8,889

6,378

6,503

6,256

9,329

5,673

5,925

5,858

9,223

5,209

5,142

5,106

7,446

4,671

4,691

4,625

7,669

4,592

4,422

4,343

5,684

3,348

3,396

3,205

5,626

2,347

2,430

2,344

5,373

2,311

2,016

2,406

4,944

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

466

368

297

-2,975

1,558

1,179

1,866

7,372

-1,620

1,052

789

24,417

0

0

0

-

-

-

-

-

-

-

-

-8,549

989

-88

2,694

Income (Loss) from Equity Method Investments

12,141

7,109

7,200

4,419

6,140

31,327

12,469

2,564

38,880

3,792

19,925

45,904

46,445

17,994

4,998

9,118

8,638

4,039

5,952

6,227

4,901

2,949

950

14,327

22,915

5,548

768

4,993

3,083

3,554

5,672

5,368

6,687

11,081

11,340

8,257

8,998

18,653

3,171

1,280

366

(Recovery) impairment of investment in unconsolidated entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,270

0

19,600

20,000

-

-

-

-

Distributions of earnings from unconsolidated entities

14,703

5,880

12,084

7,408

6,427

32,933

13,658

616

38,892

9,153

16,274

60,283

48,581

672

4,385

6,360

3,870

11,000

-3,031

7,097

4,393

2,393

2,109

17,328

22,143

11,274

3,339

6,442

2,413

1,230

2,478

678

872

4,766

526

3,996

2,793

-

-

-

-

Income from foreclosed real estate and distressed loans

285

460

136

181

170

282

243

578

448

650

269

3,388

630

6,797

178

-138

1,553

6,077

1,987

2,860

2,345

1,809

6,090

1,315

6,619

6,016

5,403

1,882

3,011

-281

2,721

5,866

4,138

-

-

-

-

-

-

-

-

Deferred tax (benefit) provision

751

95,719

4,488

936

1,621

-2,183

10,139

689

-30,575

158,598

55,450

1,488

2,328

29,059

-10,529

135

587

43,078

11,809

8,630

-1,433

22,778

5,789

17,153

1,711

28,779

28,092

16,042

2,306

40,333

4,795

-2,072

-1,246

-22,517

10,844

74

-6,589

75,384

-3,724

3,877

-14,840

Change in deferred tax valuation allowances

-

-

-

-

-

-

-

-

-

0

32,416

-226

-36

-512

-204

-154

-148

11,254

98

1,083

207

9,274

1,429

778

448

-1,796

1,856

1,061

216

393,241

4,795

-2,072

-1,246

-22,517

10,844

74

-6,589

75,384

-3,724

3,877

-14,840

Inventory impairments and write-offs

1,031

10,724

4,680

19,394

7,562

6,410

11,061

13,832

3,853

3,480

2,397

4,256

4,661

2,454

3,719

6,353

1,281

4,430

17,969

12,166

1,144

10,780

5,992

1,924

1,982

2,546

239

1,029

709

1,490

3,121

2,008

8,120

16,976

16,813

12,922

5,126

27,038

12,508

42,331

33,381

Gain on sales of golf club property and an office building

-

22,946

0

1,131

12,200

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

1,376

-506

-790

-449

703

2,903

-546

-252

1,006

-904

-202

-43

2,544

-1,070

-748

-579

658

-179

-382

-310

555

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of mortgage loans receivable and derivative instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-286

-176

605

-

242

-262

554

-426

-528

-62

346

-153

-190

104

714

-

-

-

-

(Gain) loss on marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-15

21

-

-152

137

0

0

1

0

39

-

-

-

-

-

-

-

-

Expenses related to early retirement of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-516

-658

0

-34

Changes in operating assets and liabilities
Increase in inventory

303,384

-224,729

49,824

56,883

158,258

-398,291

991

124,134

416,764

-358,553

38,762

54,343

135,782

-276,361

377,804

116,295

173,440

2,309

147,759

87,499

114,416

-80,844

33,000

-44,088

363,914

189,896

134,058

238,645

378,715

-26,473

19,955

93,998

108,468

7,534

53,764

33,565

120,875

-1,765

-50,695

140,542

52,262

Origination of mortgage loans

316,852

537,104

401,360

366,681

306,351

508,158

366,051

343,849

231,436

396,009

307,429

281,115

232,721

448,989

335,779

274,605

215,674

353,469

292,925

215,655

167,063

272,114

237,935

162,112

146,354

252,589

188,956

160,804

141,148

216,838

180,914

133,204

120,662

172,911

155,605

119,119

182,659

210,169

176,354

117,949

123,682

Sale of mortgage loans

422,376

487,839

357,874

330,257

389,974

430,912

384,782

301,987

292,946

352,582

307,726

278,506

393,393

369,648

291,618

223,187

265,703

358,207

246,267

190,841

212,356

269,547

208,052

151,519

200,830

214,181

180,245

145,330

176,830

202,838

159,846

119,818

146,895

154,886

139,396

131,437

233,891

184,030

157,120

102,712

135,359

Decrease in restricted cash and investments

-

-

-

-

-

-

-

-

-

-

-16

-11,648

-797

-

14,286

-453

12,555

-1,125

-42

500

-880

-4,059

-141

-9,633

139

-1,380

-385

44

-13,519

268

-390

-843

28,481

-4,465

-7,900

-20,283

-8,498

-

-

-

-

(Increase) decrease in receivables, prepaid expenses and other assets

172,153

29,418

61,006

47,014

47,823

-23,917

26,133

80,794

16,594

107,885

9,093

27,781

-83,815

310,739

22,529

-20,967

9,546

23,102

18,064

14,132

255

-2,008

2,635

-2,687

7,274

32,978

3,644

6,916

8,256

16,480

-9,752

41,550

-11,781

2,664

10,127

765

-7,937

11,258

-5,057

366

-3,452

Increase (Decrease) in Income Taxes Receivable

36,131

-

-

-

14,363

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

91,891

-150,881

18,303

20,437

Increase in customer deposits, net

34,058

-30,685

16,000

15,696

13,030

-40,618

-605

32,367

8,138

-26,285

6,847

27,309

30,096

-15,569

10,991

17,640

14,776

-23,111

20,367

35,183

14,039

-16,641

-1,837

21,862

7,132

-16,834

22,098

35,060

12,059

2,606

12,939

25,608

3,230

-4,915

536

15,277

2,277

-5,447

-3,328

-2,641

-3,766

Decrease in accounts payable and accrued expenses

-84,691

45,257

33,184

23,792

-166,751

33,499

10,224

68,233

-54,029

-6,618

-5,211

41,489

-170,123

486,480

5,228

15,322

17,523

20,319

-26

18,583

-10,147

45,502

14,626

36,255

-14,282

27,494

109,374

-35,103

-1,302

-328

-8,924

662

67,127

-9,149

1,227

75,533

-38,987

87,002

-48,099

14,104

-14,409

Decrease in income taxes payable

-

-35,799

30,283

12,173

-28,804

-7,994

23,412

13,386

-33,100

-79,243

28,156

69,274

-42,157

-41,743

24,582

17,193

5,996

-4,423

24,233

-26,948

-58,362

4,487

42,642

-14,154

19,426

23,262

-5,184

892

2,274

1,267

-19,383

-1,169

-5,790

236

-38,220

1,841

-20,082

31,238

-24,799

4,133

4,256

Net Cash Provided by (Used in) Operating Activities, Continuing Operations

-366,416

415,200

108,139

99,547

-185,225

662,247

252,232

3,556

-329,824

453,713

164,925

218,892

24,168

476,138

-309,373

7,345

-23,225

171,433

-73,309

-4,894

-33,048

274,584

104,801

184,203

-250,388

-112,428

-11,127

-139,586

-305,822

60,401

39,140

-108,999

-162,079

12,386

-51,278

174,833

-77,188

-83,758

161,367

-151,435

-72,458

Cash flow provided by (used in) investing activities:
Purchase of property and equipment - net

26,839

25,693

16,337

25,365

19,576

6,531

15,200

4,807

1,694

6,471

10,692

5,395

6,314

5,146

15,956

5,731

1,593

2,202

1,361

3,000

2,884

5,574

3,733

2,914

2,853

2,383

3,920

14,873

5,391

2,444

2,948

3,136

3,392

8,529

1,815

831

4,281

3,378

704

472

276

Purchase of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

40

10,143

26,019

262,389

139,736

177,833

0

32,777

90,982

209,867

119,238

52,512

20,000

0

85,450

Sale and redemption of marketable securities and restricted investments - net

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

10,000

0

0

0

2,000

-1

1,000

0

39,243

69,251

109,111

200,709

38,775

97,750

80,787

101,499

88,217

90,459

91,292

124,580

102,500

-

-

-

-

Investments in and advances to unconsolidated entities

4,909

13,300

11,700

14,355

17,205

12,302

4,389

6,378

4,422

2,620

6,199

13,574

99,941

29,028

19,244

9,545

11,838

84,659

11,576

9,021

18,684

19,990

12,385

20,246

60,408

44,188

17,216

24,380

7,614

21,347

120,805

3,224

71,784

132

0

0

0

2,658

29,697

20,979

4,952

Return of investments in unconsolidated entities

28,983

35,554

41,908

27,788

42,677

39,521

39,354

18,062

36,253

56,159

41,259

64,834

33,253

13,037

6,291

13,674

14,804

4,963

24,166

4,297

6,340

23,168

11,663

6,585

32,429

19,356

15,767

17,375

17,311

5,137

12,663

5,235

15,333

17,024

10,534

9,446

6,305

2,450

2,800

3,746

700

Investment in distressed loans and foreclosed real estate

234

129

80

392

130

447

324

103

92

22

175

239

274

169

98

172

694

528

399

229

1,468

962

370

566

191

0

0

9,903

16,252

0

2,600

1,080

26,410

-

-

-

-

-

-

-

-

Return of investments in distressed loans and foreclosed real estate

883

1,498

435

732

482

831

812

1,617

1,505

1,336

8,053

2,524

1,852

15,018

1,166

28,114

5,321

14,253

8,780

8,000

6,592

12,455

18,251

4,850

17,574

11,974

9,282

3,099

3,015

2,295

2,830

7,880

3,702

-

-

-

-

-

-

-

-

Proceeds from sales of golf club property and an office building

-

46,108

0

15,319

18,220

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposit - acquisition of a business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

161,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments to Acquire Businesses, Net of Cash Acquired

-

-

-

-

-

-

-

-

-

-2,095

0

0

85,183

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

144,746

0

0

0

0

-

-

-

-

Net Cash (Used in) Provided By Investing Activities, Continuing Operations

-2,116

-25,495

-78,614

3,727

24,468

21,072

20,253

8,391

31,550

50,477

32,246

48,150

-138,558

-6,288

-27,841

26,340

16,000

-68,173

19,610

3,895

-8,104

9,096

14,426

-1,340,407

-135,206

54,010

112,984

161,884

3,825

-180,998

-169,809

-70,659

-139,080

44,024

9,130

-118,813

-14,714

3,902

-47,601

-17,705

-89,978

Cash flow (used in) provided by financing activities:
Proceeds from issuance of senior notes

-

-

-

-

-

0

0

0

400,000

0

155,483

300,000

0

-

-

-

-

-

-

-

-

0

0

0

600,000

0

102,333

298,050

0

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs for senior notes

-

-

-

-

-

-

121

0

3,410

-

1,616

2,830

0

-

-8

-21

64

-

0

0

0

39

0

0

4,700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from loans payable

702,729

758,030

601,357

530,135

809,506

722,750

669,802

648,464

589,819

537,571

314,018

409,072

360,382

686,968

934,544

482,130

339,854

738,338

687,041

314,429

214,624

358,491

273,318

1,322,228

275,334

367,740

294,907

257,054

244,830

327,453

275,389

200,953

199,139

254,592

227,946

172,678

266,035

317,162

263,599

168,035

178,437

Debt issuance costs for loans payable

-

4,232

0

-110

2,058

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of loans payable

608,481

774,789

565,032

498,202

633,593

669,669

744,347

588,408

687,740

486,279

339,198

657,047

516,833

809,498

568,176

349,372

770,539

615,916

470,704

300,504

272,334

349,267

371,171

739,482

307,195

360,688

289,661

245,313

299,862

326,839

259,533

191,813

237,896

237,490

216,171

169,206

329,754

624,738

272,655

205,848

213,273

Redemption of senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

47,872

Redemption of senior notes

-

250,000

0

0

350,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

104,785

0

0

59,068

0

0

0

0

-

-

-

-

-

-

-

-

(Payments) proceeds from stock-based benefit plans

4,235

11,928

4,139

3,133

-1,831

3,661

598

1,553

7,580

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

8

0

220,357

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from stock-based benefit plans

-

-

-

-

-

-

-

-

-

-

17,330

14,797

25,831

1,650

333

234

4,769

4,268

1,189

16,284

17,773

1,809

3,222

4,804

18,529

5,433

1,935

2,322

6,108

9,232

7,326

7,855

9,334

1,800

19,055

1,353

3,323

316

3,149

1,280

2,844

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

466

368

297

-2,975

1,558

1,179

1,866

7,372

-1,620

1,052

789

24,417

0

0

0

-

-

-

-

-

-

-

-

1,359

989

-88

2,694

Purchase of treasury stock

476,024

66,049

142,230

101

25,143

76,264

135,417

91,221

200,257

200,165

75,294

186

15,236

65,160

97,349

80,128

150,135

50,142

130

374

6,242

90,413

156

101

84

68

15,131

99

79

121

100

220

64

48,639

74

226

163

88

118

240

142

Dividends paid

14,956

15,501

15,706

16,065

16,369

16,185

16,429

16,797

12,293

12,571

12,965

13,051

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from (Payments to) Noncontrolling Interests

44

-

-

-

-

-

-

-

-

-

-

-

-

114

0

-4

294

527

-2,604

1,242

50

91

0

0

81

0

0

33

0

-

-

-

-

-

-

-

-

-

-

-

-

Net Cash Used in Financing Activities, Continuing Operations

-392,453

59,387

-117,436

19,023

-219,488

-35,699

-225,892

-46,409

93,699

-840,905

57,758

50,755

-145,856

-187,989

265,890

53,249

-575,524

420,925

-83,650

32,256

-44,263

-72,014

-96,399

317,536

803,111

-67,951

94,383

312,047

-108,071

297,970

23,082

313,002

-29,487

-40,137

-17,681

7,277

-60,559

-315,719

-41,100

-36,861

-77,312

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect

-760,985

449,092

-87,911

122,297

-380,245

647,620

46,593

-34,462

-204,575

-336,715

254,929

317,797

-260,246

281,861

-71,324

86,934

-582,749

524,185

-137,349

31,257

-85,415

211,666

22,828

-838,668

417,517

-126,369

196,240

334,345

-410,068

177,373

-107,587

133,344

-330,646

16,273

-59,829

63,297

-152,461

-395,575

72,666

-206,001

-239,748