This document is Toll Brothers Inc.'s quarterly report filed with the SEC for the quarter ended July 31, 2001. It summarizes Toll Brothers' financial position, including an increase in total assets to $2.4 billion from $2 billion the prior year. Revenues increased to $1.5 billion from $1.2 billion the prior year. Net income increased to $145 million from $88 million the prior year. The report provides condensed financial statements, notes to the financial statements, and management's discussion of financial results.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ending January 31, 2001. It includes condensed financial statements showing increased revenues and net income compared to the prior year. Assets totaled $2.2 billion as of January 31, 2001, with inventory comprising most of the assets. Total liabilities were $1.4 billion, leaving stockholders' equity of $801.8 million. For the quarter, housing and land sales increased compared to the prior year, resulting in net income of $39.9 million, up significantly from $22.4 million in the previous year.
This document is Toll Brothers' quarterly report filed with the SEC for the period ending January 31, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. Revenues increased from the prior year due to higher housing sales. Net income increased to $44.5 million from $39.9 million a year ago. Earnings per share increased to $1.27 from $1.10 in the prior year period. The company issued $150 million in senior subordinated notes in November 2001 to fund general corporate purposes including land acquisition.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended April 30, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses forward-looking statements and risk factors that may affect future results.
This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended April 30, 2001. It summarizes Toll Brothers' financial position, including revenues of $989.8 million, total assets of $2.3 billion, and total liabilities of $1.5 billion. It also reports net income of $85.7 million and earnings per share of $2.36 for the six months ended April 30, 2001. Toll Brothers' inventory increased to $2.1 billion as of April 30, 2001.
This document is Toll Brothers Inc.'s Form 10-Q filing for the quarterly period ended July 31, 2000. It provides condensed financial statements and notes for the periods ended July 31, 2000 and 1999 including the balance sheet, income statement, and cash flow statement. Key details include revenues of $1.2 billion for the nine months ended July 31, 2000 compared to $1 billion for the same period in 1999. Net income was $87.6 million for the nine months of 2000 compared to $68.1 million in 1999.
This document is a Form 8-K filed by YRC Worldwide Inc. with the Securities and Exchange Commission on February 13, 2006. It summarizes that YRC is revising its previously reported diluted earnings per share for the three and twelve months ended December 31, 2005 due to an accounting error related to foreign currency entries at its Canadian subsidiary Reimer Express. The revision has no impact on operating income. YRC also reports lower than estimated capital expenditures for 2005.
This document is a Form 10-Q quarterly report filed by Toll Brothers, Inc. with the SEC for the quarter ended January 31, 2003. It includes:
1) Condensed consolidated balance sheets comparing assets/liabilities as of January 31, 2003 and October 31, 2002, showing increased cash/inventory and decreased debt.
2) Condensed consolidated statements of income for the quarters ended January 31, 2003 and 2002, though no financial figures are provided.
3) Notes to the condensed consolidated financial statements and standard sections including management's discussion of financial results, market risk, controls and procedures, and certifications. The document provides required regulatory financial disclosures for Toll Brothers' first fiscal
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ending January 31, 2001. It includes condensed financial statements showing increased revenues and net income compared to the prior year. Assets totaled $2.2 billion as of January 31, 2001, with inventory comprising most of the assets. Total liabilities were $1.4 billion, leaving stockholders' equity of $801.8 million. For the quarter, housing and land sales increased compared to the prior year, resulting in net income of $39.9 million, up significantly from $22.4 million in the previous year.
This document is Toll Brothers' quarterly report filed with the SEC for the period ending January 31, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. Revenues increased from the prior year due to higher housing sales. Net income increased to $44.5 million from $39.9 million a year ago. Earnings per share increased to $1.27 from $1.10 in the prior year period. The company issued $150 million in senior subordinated notes in November 2001 to fund general corporate purposes including land acquisition.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended April 30, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses forward-looking statements and risk factors that may affect future results.
This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended April 30, 2001. It summarizes Toll Brothers' financial position, including revenues of $989.8 million, total assets of $2.3 billion, and total liabilities of $1.5 billion. It also reports net income of $85.7 million and earnings per share of $2.36 for the six months ended April 30, 2001. Toll Brothers' inventory increased to $2.1 billion as of April 30, 2001.
This document is Toll Brothers Inc.'s Form 10-Q filing for the quarterly period ended July 31, 2000. It provides condensed financial statements and notes for the periods ended July 31, 2000 and 1999 including the balance sheet, income statement, and cash flow statement. Key details include revenues of $1.2 billion for the nine months ended July 31, 2000 compared to $1 billion for the same period in 1999. Net income was $87.6 million for the nine months of 2000 compared to $68.1 million in 1999.
This document is a Form 8-K filed by YRC Worldwide Inc. with the Securities and Exchange Commission on February 13, 2006. It summarizes that YRC is revising its previously reported diluted earnings per share for the three and twelve months ended December 31, 2005 due to an accounting error related to foreign currency entries at its Canadian subsidiary Reimer Express. The revision has no impact on operating income. YRC also reports lower than estimated capital expenditures for 2005.
This document is a Form 10-Q quarterly report filed by Toll Brothers, Inc. with the SEC for the quarter ended January 31, 2003. It includes:
1) Condensed consolidated balance sheets comparing assets/liabilities as of January 31, 2003 and October 31, 2002, showing increased cash/inventory and decreased debt.
2) Condensed consolidated statements of income for the quarters ended January 31, 2003 and 2002, though no financial figures are provided.
3) Notes to the condensed consolidated financial statements and standard sections including management's discussion of financial results, market risk, controls and procedures, and certifications. The document provides required regulatory financial disclosures for Toll Brothers' first fiscal
johnson controls FY2009 First Quarter Form 10-Q Report finance8
This document is Johnson Controls' quarterly report filed with the SEC for the quarter ended December 31, 2008. It includes their condensed consolidated financial statements, notes to the financial statements, and other disclosures. The financial statements show a net loss of $608 million for the quarter on net sales of $7.3 billion, compared to net income of $235 million on net sales of $9.5 billion in the prior year quarter. Current assets decreased to $8.7 billion from $10.7 billion at the end of the previous fiscal year.
This document is the quarterly report on Form 10-Q filed by A.M. Castle & Co. for the quarter ending March 31, 2009. It includes condensed consolidated financial statements and notes. The financial statements show that net sales were $252 million for the quarter, with net income of $480 thousand. Cash flow from operations was $4.7 million for the quarter. The report provides the company's condensed financial position, results of operations, and cash flows for the quarter, as well as notes regarding new accounting standards adopted and the company's acquisition of Metals U.K. Group in January 2008.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended July 31, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses items such as revenues, costs, assets, liabilities, and stockholders' equity. The report indicates that for the quarter ended July 31, 2003, Toll Brothers had revenues of $693.7 million, net income of $68.2 million, and basic earnings per share of $0.98.
johnson controls FY2007 1st Quarter Form 10-Q finance8
This document is a Form 10-Q quarterly report filed by Johnson Controls with the SEC for the quarter ended December 31, 2006. It includes:
1) Financial statements such as the balance sheet, income statement, and cash flow statement for the quarter.
2) A discussion of the company's financial condition and results of operations for the quarter.
3) Information on legal proceedings, risks, shareholder votes, and certifications by management.
This document is Toll Brothers, Inc.'s quarterly report filed with the SEC for the quarter ended January 31, 2004 on Form 10-Q. It includes Toll Brothers' condensed consolidated financial statements, management's discussion and analysis of financial condition and results of operations, and certifications regarding disclosure controls and procedures. The financial statements show that for the quarter ended January 31, 2004, Toll Brothers had revenues of $597.9 million, net income of $50.1 million, and earnings per share of $0.68 on a basic basis and $0.62 on a diluted basis. Inventory increased to $3.27 billion from $3.08 billion at the end of the prior fiscal year.
This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended April 30, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement, as well as notes to the financial statements. The financial statements show that for the quarter ended April 30, 2003, Toll Brothers had revenues of $607.9 million, net income of $52.9 million, and basic earnings per share of $0.76. Cash and cash equivalents increased to $211.3 million from $102.3 million at the end of the previous fiscal year.
johnson controls FY2007 3rd Quarter Form 10-Q finance8
This document is Johnson Controls' Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2007. It includes their condensed consolidated financial statements and notes for the periods. The financial statements show that for the quarter ended June 30, 2007, Johnson Controls reported net income of $396 million on sales of $8.9 billion, with basic earnings per share of $2.01. Management's discussion and analysis and certifications by the CEO and CFO are also included.
johnson controls FY2008 3rd Quarter Form 10-Q finance8
- The document is Johnson Controls' Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2008.
- It includes the company's condensed consolidated financial statements and notes for the quarter, including the balance sheet, income statement, and cash flow statement.
- It provides key financial data such as net sales, costs, expenses, earnings, assets, liabilities, and cash flows for the quarter.
johnson controls FY2007 2nd Quarter Form 10-Q finance8
This document is Johnson Controls' Form 10-Q filing for the quarterly period ended March 31, 2007. It includes:
1) Condensed financial statements including the consolidated statements of financial position as of March 31, 2007, September 30, 2006 and March 31, 2006, as well as the consolidated statements of income for the three and six month periods ended March 31, 2007 and 2006.
2) Management's discussion and analysis of the company's financial condition and results of operations.
3) Certification of controls and procedures stating that the company maintains disclosure controls and its internal controls over financial reporting are effective.
This document is an amendment to ConAgra Foods' annual report on Form 10-K for the 2005 fiscal year. It revises the selected financial data for fiscal year 2001 and makes corresponding changes to an exhibit regarding the ratio of earnings to fixed charges. It also adds an explanatory note about the selected financial data for fiscal years 1999 and 2000. The revisions are related to discussions between ConAgra and the SEC regarding a potential settlement of an SEC investigation into accounting matters.
- Southwestern Public Service Company (SPS) filed a quarterly report on Form 10-Q with the SEC for the quarter ended March 31, 2008.
- SPS operates as a public utility in Texas and New Mexico, providing electricity to residential, commercial, and industrial customers.
- For the quarter, SPS reported a net loss of $1.3 million compared to net income of $1.7 million in the prior year quarter. Total operating revenues increased 14.4% to $418.8 million due to higher electric fuel and purchased power costs.
This annual report summarizes Toll Brothers' strong financial performance in 1999, highlighting record earnings, revenues, backlog, and contracts. It discusses the company's growth strategies, including opportunistic land acquisitions, expanding into new markets and product lines, leveraging technology, and aligning its financial structure to support growth. The report expresses confidence that demographic trends will continue fueling demand for luxury homes.
The document is Toll Brothers Inc.'s quarterly report filed with the SEC for the quarter ended April 30, 2003. It summarizes Toll Brothers' financial position, including an increase in inventory and cash and cash equivalents compared to the prior fiscal year end. It also reports Toll Brothers' results of operations for the quarter, including housing and land sales revenues and net income. Finally, it provides a condensed consolidated statement of cash flows for the quarter showing cash used in operating activities, financing activities including new debt issuances, and an overall increase in cash and cash equivalents for the period.
This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended July 31, 2005. The summary includes:
1) Toll Brothers reported revenues of $3.8 billion for the nine months ended July 31, 2005, with net income of $495.8 million.
2) As of July 31, 2005, Toll Brothers had $5.9 billion in total assets, $3.4 billion in total liabilities, and $2.5 billion in total stockholders' equity.
3) For the three months ended July 31, 2005, Toll Brothers reported revenues of $1.6 billion and net income of $215.5 million.
- Toll Brothers is a publicly traded homebuilder that designs and builds single and attached homes catering to upper-income buyers.
- In fiscal 1999, Toll Brothers delivered 3,555 homes in 183 communities and had a backlog of 2,381 homes worth $1.067 billion at year-end.
- Toll Brothers operates in 18 states across 6 regions and offers homes priced between $127,000-$1,073,000, with an average base price of $421,000 for detached homes and $339,000 for attached homes.
This document is Toll Brothers' annual report filed with the SEC on Form 10-K. It summarizes Toll Brothers' business, including that they design and build single-family homes targeted towards middle to upper-income buyers. They operate in 21 states across the US. In fiscal year 2003, they delivered 4,911 homes from 213 communities. They had a backlog of $2.64 billion at the end of fiscal year 2003. The report provides an overview of their operations, communities, home prices, backlog, awards, and recent acquisitions.
This document is Toll Brothers Inc.'s quarterly report filed with the SEC for the quarter ending April 30, 2006. It includes the company's condensed consolidated financial statements, management's discussion and analysis of financial condition and results, and certifications of controls and procedures. Toll Brothers reports revenues, costs, assets, liabilities, cash flows, and other financial details for the quarter. It also discusses the company's performance, business outlook, risks, and other disclosures required by the SEC for public companies.
The document is Toll Brothers Inc.'s quarterly report filed with the SEC for the period ended January 31, 2001. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter ended January 31, 2001, Toll Brothers' housing sales revenues increased to $458.4 million compared to $334.2 million for the same period the previous year. Toll Brothers' net income for the quarter increased to $39.9 million compared to $22.4 million for the same quarter the previous year. The cash flow statement shows that Toll Brothers issued $200 million in senior subordinated notes in January 2001 to fund general corporate purposes including land acquisitions.
This document is Toll Brothers' quarterly report filed with the SEC, reporting financial results for the quarter ended January 31, 2002. It includes condensed consolidated balance sheets, statements of income, and cash flows. Revenues increased from the prior year due to higher housing sales, while costs and expenses also rose. Net income increased from the previous year's quarter, with earnings per share of $44.5 million compared to $39.9 million a year earlier.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended April 30, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses forward-looking statements and risk factors that may affect future results.
This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended April 30, 2001. It summarizes Toll Brothers' financial position, including revenues of $989.8 million, total assets of $2.3 billion, and total liabilities of $1.5 billion. It also reports net income of $85.7 million and earnings per share of $2.36 for the six months ended April 30, 2001. Toll Brothers' inventory increased to $2.1 billion as of April 30, 2001.
This document is Toll Brothers Inc.'s Form 10-Q filing for the quarterly period ended July 31, 2000. It provides condensed financial statements and notes for the periods ended July 31, 2000 and 1999 including the balance sheet, income statement, and cash flow statement. Key details include revenues of $1.2 billion for the nine months ended July 31, 2000 compared to $1 billion for the same period in 1999. Net income was $87.6 million for the nine months of 2000 compared to $68.1 million in 1999.
johnson controls FY2009 First Quarter Form 10-Q Report finance8
This document is Johnson Controls' quarterly report filed with the SEC for the quarter ended December 31, 2008. It includes their condensed consolidated financial statements, notes to the financial statements, and other disclosures. The financial statements show a net loss of $608 million for the quarter on net sales of $7.3 billion, compared to net income of $235 million on net sales of $9.5 billion in the prior year quarter. Current assets decreased to $8.7 billion from $10.7 billion at the end of the previous fiscal year.
This document is the quarterly report on Form 10-Q filed by A.M. Castle & Co. for the quarter ending March 31, 2009. It includes condensed consolidated financial statements and notes. The financial statements show that net sales were $252 million for the quarter, with net income of $480 thousand. Cash flow from operations was $4.7 million for the quarter. The report provides the company's condensed financial position, results of operations, and cash flows for the quarter, as well as notes regarding new accounting standards adopted and the company's acquisition of Metals U.K. Group in January 2008.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended July 31, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses items such as revenues, costs, assets, liabilities, and stockholders' equity. The report indicates that for the quarter ended July 31, 2003, Toll Brothers had revenues of $693.7 million, net income of $68.2 million, and basic earnings per share of $0.98.
johnson controls FY2007 1st Quarter Form 10-Q finance8
This document is a Form 10-Q quarterly report filed by Johnson Controls with the SEC for the quarter ended December 31, 2006. It includes:
1) Financial statements such as the balance sheet, income statement, and cash flow statement for the quarter.
2) A discussion of the company's financial condition and results of operations for the quarter.
3) Information on legal proceedings, risks, shareholder votes, and certifications by management.
This document is Toll Brothers, Inc.'s quarterly report filed with the SEC for the quarter ended January 31, 2004 on Form 10-Q. It includes Toll Brothers' condensed consolidated financial statements, management's discussion and analysis of financial condition and results of operations, and certifications regarding disclosure controls and procedures. The financial statements show that for the quarter ended January 31, 2004, Toll Brothers had revenues of $597.9 million, net income of $50.1 million, and earnings per share of $0.68 on a basic basis and $0.62 on a diluted basis. Inventory increased to $3.27 billion from $3.08 billion at the end of the prior fiscal year.
This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended April 30, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement, as well as notes to the financial statements. The financial statements show that for the quarter ended April 30, 2003, Toll Brothers had revenues of $607.9 million, net income of $52.9 million, and basic earnings per share of $0.76. Cash and cash equivalents increased to $211.3 million from $102.3 million at the end of the previous fiscal year.
johnson controls FY2007 3rd Quarter Form 10-Q finance8
This document is Johnson Controls' Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2007. It includes their condensed consolidated financial statements and notes for the periods. The financial statements show that for the quarter ended June 30, 2007, Johnson Controls reported net income of $396 million on sales of $8.9 billion, with basic earnings per share of $2.01. Management's discussion and analysis and certifications by the CEO and CFO are also included.
johnson controls FY2008 3rd Quarter Form 10-Q finance8
- The document is Johnson Controls' Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2008.
- It includes the company's condensed consolidated financial statements and notes for the quarter, including the balance sheet, income statement, and cash flow statement.
- It provides key financial data such as net sales, costs, expenses, earnings, assets, liabilities, and cash flows for the quarter.
johnson controls FY2007 2nd Quarter Form 10-Q finance8
This document is Johnson Controls' Form 10-Q filing for the quarterly period ended March 31, 2007. It includes:
1) Condensed financial statements including the consolidated statements of financial position as of March 31, 2007, September 30, 2006 and March 31, 2006, as well as the consolidated statements of income for the three and six month periods ended March 31, 2007 and 2006.
2) Management's discussion and analysis of the company's financial condition and results of operations.
3) Certification of controls and procedures stating that the company maintains disclosure controls and its internal controls over financial reporting are effective.
This document is an amendment to ConAgra Foods' annual report on Form 10-K for the 2005 fiscal year. It revises the selected financial data for fiscal year 2001 and makes corresponding changes to an exhibit regarding the ratio of earnings to fixed charges. It also adds an explanatory note about the selected financial data for fiscal years 1999 and 2000. The revisions are related to discussions between ConAgra and the SEC regarding a potential settlement of an SEC investigation into accounting matters.
- Southwestern Public Service Company (SPS) filed a quarterly report on Form 10-Q with the SEC for the quarter ended March 31, 2008.
- SPS operates as a public utility in Texas and New Mexico, providing electricity to residential, commercial, and industrial customers.
- For the quarter, SPS reported a net loss of $1.3 million compared to net income of $1.7 million in the prior year quarter. Total operating revenues increased 14.4% to $418.8 million due to higher electric fuel and purchased power costs.
This annual report summarizes Toll Brothers' strong financial performance in 1999, highlighting record earnings, revenues, backlog, and contracts. It discusses the company's growth strategies, including opportunistic land acquisitions, expanding into new markets and product lines, leveraging technology, and aligning its financial structure to support growth. The report expresses confidence that demographic trends will continue fueling demand for luxury homes.
The document is Toll Brothers Inc.'s quarterly report filed with the SEC for the quarter ended April 30, 2003. It summarizes Toll Brothers' financial position, including an increase in inventory and cash and cash equivalents compared to the prior fiscal year end. It also reports Toll Brothers' results of operations for the quarter, including housing and land sales revenues and net income. Finally, it provides a condensed consolidated statement of cash flows for the quarter showing cash used in operating activities, financing activities including new debt issuances, and an overall increase in cash and cash equivalents for the period.
This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended July 31, 2005. The summary includes:
1) Toll Brothers reported revenues of $3.8 billion for the nine months ended July 31, 2005, with net income of $495.8 million.
2) As of July 31, 2005, Toll Brothers had $5.9 billion in total assets, $3.4 billion in total liabilities, and $2.5 billion in total stockholders' equity.
3) For the three months ended July 31, 2005, Toll Brothers reported revenues of $1.6 billion and net income of $215.5 million.
- Toll Brothers is a publicly traded homebuilder that designs and builds single and attached homes catering to upper-income buyers.
- In fiscal 1999, Toll Brothers delivered 3,555 homes in 183 communities and had a backlog of 2,381 homes worth $1.067 billion at year-end.
- Toll Brothers operates in 18 states across 6 regions and offers homes priced between $127,000-$1,073,000, with an average base price of $421,000 for detached homes and $339,000 for attached homes.
This document is Toll Brothers' annual report filed with the SEC on Form 10-K. It summarizes Toll Brothers' business, including that they design and build single-family homes targeted towards middle to upper-income buyers. They operate in 21 states across the US. In fiscal year 2003, they delivered 4,911 homes from 213 communities. They had a backlog of $2.64 billion at the end of fiscal year 2003. The report provides an overview of their operations, communities, home prices, backlog, awards, and recent acquisitions.
This document is Toll Brothers Inc.'s quarterly report filed with the SEC for the quarter ending April 30, 2006. It includes the company's condensed consolidated financial statements, management's discussion and analysis of financial condition and results, and certifications of controls and procedures. Toll Brothers reports revenues, costs, assets, liabilities, cash flows, and other financial details for the quarter. It also discusses the company's performance, business outlook, risks, and other disclosures required by the SEC for public companies.
The document is Toll Brothers Inc.'s quarterly report filed with the SEC for the period ended January 31, 2001. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter ended January 31, 2001, Toll Brothers' housing sales revenues increased to $458.4 million compared to $334.2 million for the same period the previous year. Toll Brothers' net income for the quarter increased to $39.9 million compared to $22.4 million for the same quarter the previous year. The cash flow statement shows that Toll Brothers issued $200 million in senior subordinated notes in January 2001 to fund general corporate purposes including land acquisitions.
This document is Toll Brothers' quarterly report filed with the SEC, reporting financial results for the quarter ended January 31, 2002. It includes condensed consolidated balance sheets, statements of income, and cash flows. Revenues increased from the prior year due to higher housing sales, while costs and expenses also rose. Net income increased from the previous year's quarter, with earnings per share of $44.5 million compared to $39.9 million a year earlier.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended April 30, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses forward-looking statements and risk factors that may affect future results.
This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended April 30, 2001. It summarizes Toll Brothers' financial position, including revenues of $989.8 million, total assets of $2.3 billion, and total liabilities of $1.5 billion. It also reports net income of $85.7 million and earnings per share of $2.36 for the six months ended April 30, 2001. Toll Brothers' inventory increased to $2.1 billion as of April 30, 2001.
This document is Toll Brothers Inc.'s Form 10-Q filing for the quarterly period ended July 31, 2000. It provides condensed financial statements and notes for the periods ended July 31, 2000 and 1999 including the balance sheet, income statement, and cash flow statement. Key details include revenues of $1.2 billion for the nine months ended July 31, 2000 compared to $1 billion for the same period in 1999. Net income was $87.6 million for the nine months of 2000 compared to $68.1 million in 1999.
- The document is a Form 10-Q quarterly report filed with the SEC by Toll Brothers, Inc. for the quarterly period ended January 31, 2003.
- It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement for the periods ended January 31, 2003 and January 31, 2002.
- It also includes notes to the financial statements and disclosures on inventory, accounting policies, earnings per share, stock splits, and forward-looking statements.
This document is Toll Brothers' Form 10-Q/A filed with the SEC, which provides quarterly financial results and other information. It summarizes that for the quarter ended July 31, 2002, Toll Brothers reported housing and land sales revenues of $577.8 million, net income of $53.5 million, and basic earnings per share of $0.76. It also discloses total assets of $2.77 billion and total liabilities of $1.71 billion as of the end of the reported quarter.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended July 31, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses items such as revenues, costs, assets, liabilities, earnings per share, and cash flows. In summary, it presents Toll Brothers' financial performance and position for the quarter and provides important disclosures regarding its business and accounting.
This document is an SEC filing by YRC Worldwide Inc. announcing revisions to its previously reported financial results for the three and twelve months ended December 31, 2005. Specifically, YRC revised its diluted EPS downward from $5.12 to $5.07 for the full year, and from $1.34 to $1.30 for the quarter. YRC also revised its adjusted diluted EPS downward slightly. The revisions were due to an accounting error related to foreign currency treatment at a Canadian subsidiary. YRC stated the error was corrected and would not impact future results.
johnson controls FY2009 1st Quarter Form 10-Q finance8
This document is a Form 10-Q quarterly report filed by Johnson Controls with the SEC for the quarter ended December 31, 2008. It includes Johnson Controls' condensed consolidated financial statements and notes for the quarter, as well as a management discussion and analysis. The financial statements show that net sales were $7.3 billion for the quarter, with a net loss of $608 million. Total assets were $22.3 billion as of December 31, 2008. The report provides required quarterly disclosures and financial information to the SEC and shareholders.
This document is Toll Brothers' quarterly report filed with the SEC for the period ended July 31, 2004. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and disclosures on forward-looking statements, accounting policies, and subsequent events. The financial statements show that for the nine months ended July 31, 2004, Toll Brothers increased its revenues over the same period the prior year and reported net income of $228.5 million.
This document is Toll Brothers' quarterly report filed with the SEC for the period ended July 31, 2004. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and disclosures on forward-looking statements, accounting policies, and subsequent events. The financial statements show that for the nine months ended July 31, 2004, Toll Brothers increased its revenues over the same period the prior year and reported net income of $228.5 million.
This 10-Q filing provides Central Pacific Financial Corp.'s quarterly financial statements and disclosures for the period ending March 31, 2009. Some key details include:
- Net income for the quarter was $2.6 million compared to $1.7 million for the same period in 2008.
- Total assets were $5.4 billion as of March 31, 2009, similar to the total as of December 31, 2008.
- Total deposits increased by $91 million compared to the previous quarter.
- The provision for loan and lease losses was $26.8 million for the quarter due to increasing credit costs.
- Constellation Brands filed a quarterly report that provides financial information as of May 31, 2009
- As of May 31, 2009, Constellation Brands had total assets of $8.4 billion including $1.8 billion in inventories and $2.5 billion in goodwill
- As of the same date, the company had total liabilities of $6.1 billion including $3.7 billion in long-term debt less current maturities
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2001. It includes:
1) Financial statements including the consolidated statement of earnings, balance sheet, cash flows, and shareholders' equity for the quarter. Revenues were $6.9 billion and net loss was $44 million.
2) Notes to the financial statements providing additional details on earnings per share calculations, recent mergers and acquisitions, and basis of presentation of the interim financial statements.
3) Management's discussion and analysis of financial condition and results of operations including details of business segment performance.
4) Certification that all required SEC filings have been made
This document is a Form 10-Q quarterly report filed by Aon Corporation with the SEC for the quarter ended June 30, 2008. The report includes Aon's condensed consolidated financial statements and notes. It provides Aon's unaudited financial position, results of operations, and cash flows for the quarter. Significant items include total revenues of $1.98 billion, net income of $1.13 billion including $965 million from discontinued operations, and cash provided by operating activities of $268 million. The report also notes that Aon will adopt new accounting standards for business combinations and noncontrolling interests as of January 1, 2009.
This 10-Q filing provides Constellation Brands' financial statements and disclosures for the quarterly period ended August 31, 2009. It includes a balance sheet, income statement, cash flow statement, and notes to the financial statements. It also discusses items such as accounting policies, details of business segments, commitments and contingencies, and recent accounting pronouncements.
family dollar stores First Quarter 10Q 2006finance33
This document is Family Dollar Stores' quarterly report filed with the SEC for the quarter ended November 26, 2005. It provides the company's consolidated condensed balance sheets, statements of income, and statements of cash flows for the quarters ended November 26, 2005 and November 27, 2004. It also includes notes to the financial statements and sections on management's discussion of financial conditions, quantitative and qualitative market risk disclosures, and controls and procedures.
- Southwestern Public Service Company (SPS) filed a quarterly report on Form 10-Q with the SEC for the quarter ended March 31, 2008.
- SPS operates as a public utility in Texas and New Mexico, providing electricity to residential, commercial, and industrial customers.
- For the quarter, SPS reported a net loss of $1.3 million compared to net income of $1.7 million in the prior year quarter. Total operating revenues increased 14.4% to $418.8 million due to higher electric fuel and purchased power costs.
This document is a Form 10-Q quarterly report filed by Tenet Healthcare Corporation with the SEC for the quarter ended August 31, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. The balance sheet shows the company had total assets of $13.7 billion as of August 31, 2002, including $3.4 billion in goodwill. The income statement shows net income of $338 million for the quarter. Cash flow from operations was $696 million for the quarter.
The interim report summarizes the company's financial performance in the first half of 2008. Key points include record profitability with an operating margin of 16.6% and net margin of 12.1%. Vehicle and service sales grew 15% and 30% respectively. Earnings per share increased 36% to SEK 12.52. The outlook predicts earnings in 2008 will be higher than 2007 due to continued strong demand outside of Europe.
1) Scania reported record earnings in the first half of 2008, with operating margin reaching 16.6% and net margin at 12.1%.
2) Scania is pursuing profitable growth through increasing vehicle and service sales. Revenue grew 15% while EBIT grew 30% in the first half of 2008.
3) Scania's vision is to reach annual production of 150,000 vehicles while maintaining a flexible cost structure and focus on customer productivity and uptime.
The interim report summarizes the company's performance in the first three quarters of 2008. Key highlights include operating margins reaching an all-time high of 15.8% and EBIT growth of 25%. Revenue and profitability increased due to higher vehicle and service volumes, price increases, and favorable product mix. However, order bookings for trucks have declined 51% in Western Europe and 34% in Central and Eastern Europe. While flexible production has helped, earnings forecasts for 2009 are not provided due to economic uncertainty. The service business continues growing with increased traffic and workshop utilization.
HQ Bank has experienced volume driven growth in its credit portfolio over the past 9 months of 2008. While the portfolio increased 8% in local currencies, bad debt provisions increased in several markets. The bank has a well balanced portfolio that is diversified across exposure levels, geographic areas, and products. It maintains a conservative refinancing policy and manages risks through matched funding and credit risk management.
1) Scania reported all-time high earnings in 2008 with operating income of SEK 12,512 million. However, deliveries declined 18% in Q4 as the company adjusted production rates due to decreased demand in Europe.
2) While the trucks and services segment grew profits through price increases, this was partially offset by negative impacts from lower deliveries, used vehicles, raw materials, and R&D spending.
3) Scania's flexible production system and focus on reducing inventory and postponing investments helped cash flow, but tied up capital increased with capacity investments. Outlook remains uncertain given rapid demand fall in Q4 2008 and high industry inventory levels.
The interim report summarizes the company's performance in the first three quarters of 2008. Key highlights include operating margins reaching an all-time high of 15.8% and EBIT growth of 25%. Vehicle deliveries increased 4% while service revenue grew due to the large installed base of vehicles. The outlook acknowledges earnings will be higher in 2008 than 2007 but provides no forecast for 2009 due to uncertainty.
- Scania's operating margin and net margin increased in the first nine months of 2008 compared to the same period in 2007. Net sales rose 11% while order bookings declined 29% due to lower demand in Europe.
- Earnings per share increased and the forecast for higher full-year 2008 earnings remains unchanged. However, due to lower order bookings and higher inventories, Scania will adjust production rates.
- Service revenue continued to show strong growth of 8%, while trucks deliveries increased 4% and various restructuring efforts are expected to generate annual cost savings of SEK 300 million from 2009.
1) Scania reported all-time high earnings in 2008 with operating income of SEK 12,512 million. However, deliveries declined 18% in Q4 as the company adjusted production rates due to decreased demand in Europe.
2) While the trucks and services segment grew profits through price increases, this was partially offset by negative impacts from lower deliveries, used vehicles, raw materials, and R&D spending.
3) Scania's flexible production system and focus on reducing inventory and postponing investments helped cash flow, but tied up capital increased with capacity investments. Outlook for 2009 is uncertain due to rapid demand fall in Q4 and high industry inventory levels.
This document is Scania's annual report for 2008. It discusses Scania's vision to be a leading company in its industry by creating value for customers, employees, shareholders, and society. The report outlines Scania's mission to supply high-quality vehicles and services for transporting goods and passengers in a sustainable way. It provides an overview of Scania's operations in trucks, buses, coaches, engines, and financial services. The financial reports indicate that Scania delivered 66,516 trucks, 7,277 buses and coaches, and 6,671 engines in 2008.
Our Chief Executive Officer is required to annually certify to the New York Stock Exchange that the company is in compliance with NYSE corporate governance listing standards or note any violations. On June 6, 2007, our Chief Executive Officer submitted this unqualified certification, indicating the company was in full compliance with NYSE standards as of that date.
Our Chief Executive Officer is required to annually certify to the New York Stock Exchange that the company is in compliance with NYSE corporate governance listing standards, though he may qualify the certification if needed. On June 6, 2007, our Chief Executive Officer submitted the certification with no qualification, indicating full compliance with NYSE standards as of that date.
The document outlines the corporate governance guidelines of Perini Corporation. It discusses (1) the composition and responsibilities of the Board of Directors, including director qualifications and independence, (2) the roles and responsibilities of Board committees, and (3) policies regarding Board performance evaluation, director orientation, management succession planning, and the company's code of business conduct. The guidelines are intended to assist the Board in exercising its duties to stakeholders.
The document outlines the corporate governance guidelines of Perini Corporation. It discusses (1) the composition and responsibilities of the Board of Directors, including director qualifications and independence, (2) the roles and responsibilities of Board committees, and (3) policies regarding Board performance evaluation, director orientation, management succession planning, and the company's code of business conduct. The guidelines are intended to assist the Board in exercising its duties to stakeholders.
The Perini Corporation Code of Business Conduct and Ethics outlines guidelines for ethical behavior. It applies to all directors, officers, and employees. The code establishes rules regarding conflicts of interest, procurement ethics, accounting practices, use of company property, environmental compliance, and insider trading. Any violations of the code are taken seriously and can result in disciplinary action up to dismissal.
The Perini Corporation Code of Business Conduct and Ethics outlines guidelines for ethical behavior. It applies to all directors, officers, and employees. The code establishes rules regarding conflicts of interest, procurement ethics, accounting practices, use of company property, environmental compliance, and insider trading. Any violations of the code are taken seriously and can result in disciplinary action up to dismissal.
The document outlines the Corporate Governance and Nominating Committee Charter for Perini Corporation. The purpose of the committee is to identify and evaluate potential board candidates and lead corporate governance efforts. The committee must consist of at least two independent directors appointed by the board. It has authority to retain outside advisors and meet at least twice per year. Regarding nominations, the committee evaluates candidates, recommends nominees, and assesses board independence. For corporate governance, the committee develops guidelines, reviews committee performance, and recommends criteria for director tenure.
The document is the Compensation Committee Charter for Perini Corporation. It outlines the committee's purpose of ensuring compensation programs attract and retain employees while representing fair value for shareholders. It details the committee's composition, duties, and responsibilities which include annually reviewing executive compensation programs, recommending director and CEO compensation, overseeing incentive plans, and preparing required compensation disclosures.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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tollbrothers 10-Q_jul_2001
1. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(Mark One)
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED July 31, 2001
OR
___ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______TO_______
Commission file number 1-9186
TOLL BROTHERS INC.
(Exact name of registrant as specified in its charter)
Delaware 23-2416878
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
3103 Philmont Avenue, Huntingdon Valley, Pennsylvania 19006
(Address of principal executive offices) (Zip Code)
(215) 938-8000
(Registrant’s telephone number, including area code)
Not applicable
(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of
the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes X No ___
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest
practicable date:
Common Stock, $.01 par value: 34,811,774 shares as of September 4, 2001
2. TOLL BROTHERS, INC. AND SUBSIDIARIES
INDEX
Page
No.
Statement of Forward-Looking Information 1
PART I. Financial Information
ITEM 1. Financial Statements
Condensed Consolidated Balance Sheets (Unaudited)
as of July 31, 2001 and October 31, 2000 2
Condensed Consolidated Statements of Income
(Unaudited) For the Nine Months and Three
Months Ended July 31, 2001 and 2000 3
Condensed Consolidated Statements of Cash Flows
(Unaudited) For the Nine Months Ended
July 31, 2001 and 2000 4
Notes to Condensed Consolidated Financial Statements
(Unaudited) 5
ITEM 2. Management’s Discussion and Analysis of Financial
Condition and Results of Operations 7
ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 11
PART II. Other Information 12
SIGNATURES 13
3. STATEMENT OF FORWARD-LOOKING INFORMATION
Certain information included herein and in other Company reports, SEC filings, statements and presentations is
forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not
limited to, statements concerning the Company’s anticipated operating results, financial resources, changes in
revenues, changes in profitability, interest expense, growth and expansion, ability to acquire land, ability to sell
homes and properties, ability to deliver homes from backlog, ability to secure materials, and subcontractors and
stock market valuations. Such forward-looking information involves important risks and uncertainties that could
significantly affect actual results and cause them to differ materially from expectations expressed herein and in other
Company reports, SEC filings, statements and presentations. These risks and uncertainties include local, regional
and national economic conditions, the effects of governmental regulation, the competitive environment in which the
Company operates, fluctuations in interest rates, changes in home prices, the availability and cost of land for future
growth, the availability and cost of capital, fluctuations in capital and securities markets, the availability and cost of
labor and materials, and weather conditions.
Additional information concerning potential factors that the Company believes could cause its actual results to differ
materially from expected and historical results is included under the caption “Factors That May Affect Our Future
Results” in Item 1 of our Annual Report on Form 10-K for the fiscal year ended October 31, 2000. If one or more of
the assumptions underlying our forward-looking statements proves incorrect, then the Company’s actual results,
performance or achievements could differ materially from those expressed in, or implied by the forward-looking
statements contained in this report. Therefore, we caution you not to place undue reliance on our forward-looking
statements. This statement is provided as permitted by the Private Securities Litigation Reform.
1
4. TOLL BROTHERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
July 31, October 31,
2001 2000
(Unaudited)
ASSETS
Cash and cash equivalents $ 125,528 $ 161,860
Inventory 2,129,122 1,712,383
Property, construction and office
equipment, net 31,972 24,075
Receivables, prepaid expenses and
other assets 127,211 113,025
Investments in unconsolidated entities 14,973 18,911
$ 2,428,806 $ 2,030,254
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Loans payable $ 364,261 $ 326,537
Subordinated notes 669,561 469,499
Customer deposits on sales contracts 115,240 104,924
Accounts payable 100,817 110,927
Accrued expenses 214,131 185,141
Income taxes payable 87,763 88,081
Total liabilities 1,551,773 1,285,109
Stockholders’ equity:
Preferred stock
Common stock 357 359
Additional paid-in capital 108,351 105,454
Retained earnings 813,755 668,608
Treasury stock (45,430) (29,276)
Total stockholders’ equity 877,033 745,145
$ 2,428,806 $ 2,030,254
See accompanying notes
2
5. TOLL BROTHERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share data)
(Unaudited)
Nine Months Three Months
ended July 31 ended July 31
2001 2000 2001 2000
Revenues:
Housing sales $ 1,529,394 $ 1,160,379 $ 573,479 $ 452,174
Land sales 25,166 30,061 2,749 9,544
Equity earnings of
unconsolidated joint ventures 7,575 3,069 2,314
Interest and other 11,718 6,060 5,526 2,814
1,573,853 1,199,569 584,068 464,532
Costs and expenses:
Housing sales 1,131,136 887,303 417,756 342,030
Land sales 19,611 23,266 2,073 7,618
Selling, general
& administrative 152,894 119,307 54,555 44,177
Interest 40,506 31,211 15,524 11,916
1,344,147 1,061,087 489,908 405,741
Income before income taxes 229,706 138,482 94,160 58,791
Income taxes 84,559 50,905 34,716 21,557
Net Income $ 145,147 $ 87,577 $ 59,444 $ 37,234
Earnings per share
Basic $ 4.02 $ 2.41 $ 1.66 $ 1.03
Diluted $ 3.71 $ 2.36 $ 1.54 $ 1.00
Weighted average number
of shares
Basic 36,143 36,338 35,838 36,146
Diluted 39,134 37,055 38,706 37,219
See accompanying notes
3
6. TOLL BROTHERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands, except per share data)
(Unaudited)
Nine months
ended July 31
2001 2000
Cash flows from operating activities:
Net income $ 145,147 $ 87,577
Adjustments to reconcile net income to net
cash used in operating activities:
Depreciation and amortization 7,233 6,115
Equity in the earnings of unconsolidated
joint ventures (7,575) (3,069)
Deferred tax provision 5,732 3,434
Changes in operating assets and liabilities:
Increase in inventory (394,925) (220,160)
Origination of mortgage loans (121,358)
Sale of mortgage loans 110,348
Decrease (increase) in receivables, prepaid
expenses and other assets 559 (18,554)
Increase in customer deposits on
sales contracts 10,316 29,989
Increase in accounts payable,
accrued expenses and other liabilities 24,084 26,723
(Decrease) increase in current income
taxes payable (923) 11,546
Net cash used in operating activities (221,362) (76,399)
Cash flows from investing activities:
Purchase of property, construction and office equipment, net (12,262) (7,412)
Distribution from unconsolidated entities 14,017 2,699
Net cash provided (used) in investing activities 1,755 (4,713)
Cash flows from financing activities:
Proceeds from loans payable 108,869 560,132
Principal payments of loans payable (98,978) (436,635)
Net proceeds from the issuance of senior subordinated notes 196,975
Proceeds from stock-based benefit plans 12,909 615
Purchase of treasury stock (36,500) (15,430)
Net cash provided by financing activities 183,275 108,682
Net (decrease) increase in cash and cash equivalents (36,332) 27,570
Cash and cash equivalents, beginning of period 161,860 96,484
Cash and cash equivalents, end of period $ 125,528 $ 124,054
See accompanying notes
4
7. TOLL BROTHERS, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Amounts in thousands)
(Unaudited)
1. Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance
with the rules and regulations of the Securities and Exchange Commission for interim financial information.
The October 31, 2000 balance sheet amounts and disclosures included herein have been derived from the
October 31, 2000 audited financial statements of the Registrant. Since the accompanying condensed
consolidated financial statements do not include all the information and footnotes required by accounting
principles generally accepted in the United States for complete financial statements, it is suggested that they
be read in conjunction with the financial statements and notes thereto included in the Registrant’s October
31, 2000 Annual Report on Form 10K. In the opinion of management, the accompanying unaudited
condensed consolidated financial statements include all adjustments, which are of a normal recurring nature,
necessary to present fairly the Company’s financial position as of July 31, 2001, the results of its operations
for the nine months and three months ended July 31, 2001 and 2000 and its cash flows for the nine months
ended July 31, 2001 and 2000. The results of operations for such interim periods are not necessarily
indicative of the results to be expected for the full year.
2. Inventory
Inventory consisted of the following:
July 31, October 31,
2001 2000
Land and land development costs $ 692,801 $ 558,503
Construction in progress 1,242,538 992,098
Sample homes 75,402 60,511
Land deposits and costs of future development 80,857 68,560
Deferred marketing 37,524 32,711
$ 2,129,122 $ 1,712,383
Construction in progress includes the cost of homes under construction, land and land development costs and
the carrying costs of lots that have been substantially improved.
The Company capitalizes certain interest costs to inventory during the development and construction period.
Capitalized interest is charged to interest expense when the related inventory is closed. Interest incurred,
capitalized and expensed is summarized as follows:
Nine months Three months
ended July 31 ended July 31
2001 2000 2001 2000
Interest capitalized, beginning of period $ 78,443 $ 64,984 $ 90,426 $ 74,171
Interest incurred 58,110 43,602 20,711 14,971
Interest expensed (40,506) (31,211) (15,524) (11,916)
Write off to cost of sales (755) (596) (321) (447)
Interest capitalized, end of period $ 95,292 $ 76,779 $ 95,292 $ 76,779
5
8. 3. Earnings per Share Information
Information pertaining to the calculation of earnings per share for the nine months and three months ended July
31, 2001 is as follows:
Nine months Three months
ended July 31 ended July 31
2001 2000 2001 2000
Basic weighted average shares outstanding 36,143 36,338 35,838 36,146
Stock options 2,991 717 2,868 1,073
Diluted weighted average shares 39,134 37,055 38,706 37,219
4. Subordinated Notes
In January 2001, the Company issued $200,000,000 of 8 ¼% Senior Subordinated Notes due 2011. The
Company used the proceeds for general corporate purposes including the acquisition of inventory.
5. Stock Repurchase Program
The Company’s Board of Directors has authorized the repurchase of up to 5,000,000 shares of its Common
Stock, par value $.01, from time to time, in open market transactions or otherwise, for the purpose of providing
shares for the Company’s various employee benefit plans. As of July 31, 2001, the Company had repurchased
approximately 1,061,000 shares under the program. As of July 31, 2001, the Company held 1,358,643 shares in
Treasury.
6. Supplemental Disclosure to Statements of Cash Flows
The following are supplemental disclosures to the statements of cash flow for the nine months ended July 31,
2001 and 2000:
2001 2000
Supplemental disclosures of cash flow information:
Interest paid, net of capitalized amount $ 8,987 $ 8,827
Income taxes paid $ 79,750 $ 35,924
Supplemental disclosures of non-cash activities:
Cost of inventories acquired through seller financing $ 28,982 $ 6,751
Investment in unconsolidated subsidiary acquired through
seller financing $ 4,500
Income tax benefit relating to exercise of employee stock options $ 5,128 $ 472
Stock bonus awards $ 4,413 $ 1,395
Contributions to employee retirement plans $ 791 $ 641
6
9. PART I. ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
RESULTS OF OPERATIONS
The following table sets forth, for the periods indicated, comparisons of certain income statement items related to
the Company’s operations (amounts in millions):
Nine months ended July 31, Three months ended July 31,
2001 2000 2001 2000
$ % $ % $ % $ %
Housing sales
Revenues 1,529.4 1,160.4 573.5 452.2
Costs 1,131.1 74.0 887.3 76.5 417.8 72.8 342.0 75.6
Land sales
Revenues 25.2 30.1 2.7 9.5
Costs 19.6 77.9 23.3 77.4 2.1 75.4 7.6 79.8
Equity earnings of
unconsolidated
joint ventures 7.6 3.1 2.3
Interest and other 11.7 6.0 5.5 2.8
Total revenues 1,573.9 1,199.6 584.1 464.5
Selling, general
& administrative
expense* 152.9 9.7 119.3 10.0 54.6 9.3 44.2 9.5
Interest expense* 40.5 2.6 31.2 2.6 15.5 2.7 11.9 2.6
Total costs and
expenses* 1,344.1 85.4 1,061.1 88.5 489.9 83.9 405.7 87.3
Income before
income taxes 229.7 14.6 138.5 11.5 94.2 16.1 58.8 12.7
*Percentages are based on total revenues.
Note: Amounts may not add due to rounding
HOUSING SALES
Housing revenues for the nine month and three month periods ended July 31, 2001 were higher than those of the
comparable periods of 2000 by approximately $369 million, or 32%, and $121 million, or 27%, respectively. The
revenue increase in the nine month period was attributable to a 15% increase in the number of homes delivered and
a 14% increase in the average price of the homes delivered. The increase in revenues in the three month period of
fiscal 2001 was attributable to a 14% increase in the average price of the homes delivered and a 12% increase in the
number of homes delivered. The increase in the average price of the homes delivered in both periods of fiscal 2001
was the result of increased selling prices and a shift in the location of homes delivered to more expensive areas. The
increase in the number of homes delivered is primarily due to the larger backlog of homes to be delivered at the
beginning of fiscal 2001 as compared to fiscal 2000.
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10. The value of new sales contracts signed amounted to $1.69 billion (3,396 homes) in the nine month period of fiscal
2001, a 7% increase over the value of contracts signed in the nine month period of fiscal 2000 of $1.57 billion
(3,322 homes). This increase is attributable to a 5% increase in the average selling price of the homes (due primarily
to the location and size and the increase in base selling prices) and a 2% increase in the number of units sold. For the
three months ended July 31, 2001, the value of contracts signed increased 2% over the comparable period of fiscal
2000. This increase was primarily attributable to an increase in the number of units sold.
The increase in the number of signed contracts for the nine month and three month periods of fiscal 2001 was
negatively impacted by temporary delays in the opening of a number of new communities and in the opening of new
sections of several existing communities. These delays were caused by an increase in government regulation in
many of the Company’s markets. The Company expects to have approximately 160 selling communities as of
October 31, 2001 compared to 142 as of July 31, 2001 and 146 as of October 31, 2000.
As of July 31, 2001, the backlog of homes under contract was $1.58 billion (3,055 homes), approximately 8% higher
than the $1.47 billion (2,983 homes) backlog as of July 31, 2000 and approximately 10% higher than the $1.43
billion (2,779 homes) backlog as of October 31, 2000. The increase in backlog at July 31, 2001 is primarily
attributable to the increase in the number of new contracts signed and price increases in fiscal 2001, as previously
discussed. Based on the Company’s current backlog, we believe that fiscal 2001 will be another record year.
Housing costs as a percentage of housing sales decreased in both periods of fiscal 2001 as compared to the
comparable periods of fiscal 2000. The decreases were largely the result of selling prices increasing at a greater rate
than costs, lower land and improvement costs and improved operating efficiencies offset in part by higher inventory
write-offs. The Company incurred $6.6 million and $2.3 million in write-offs in the nine month and three month
periods of fiscal 2001, respectively, as compared to $5.0 million and $.9 million in the comparable periods of fiscal
2000.
LAND SALES
The Company operates a land development and sales operation in Loudoun County, Virginia. The Company is also
developing several master planned communities in which it may sell land to other builders. The amount of land sales
will vary from quarter to quarter depending upon the scheduled timing of the delivery of the land parcels. Land sales
amounted to $25.2 million and $2.7 million for the nine months and three months ended July 31, 2001, respectively,
as compared to $30.1 million and $9.5 million for the comparable periods of 2000.
EQUITY EARNINGS IN UNCONSOLIDATED JOINT VENTURES
In fiscal 1998, the Company entered into a joint venture to develop and sell land owned by its venture partner.
Under the terms of the agreement, the Company has the right to purchase up to a specified number of lots with the
majority of the lots to be sold to other builders. In the quarter ended April 30, 2000, the joint venture sold its first
group of lots to other builders and to the Company. The Company recognizes its share of earnings from the sale of
lots to other builders but does not recognize earnings from lots it purchases. It reduces its cost basis in the lots it
purchases from the joint venture by its share of the earnings on those lots. Earnings from this joint venture will vary
significantly from quarter to quarter.
INTEREST AND OTHER INCOME
Interest and other income increased $5.7 million in the nine month period ended July 31, 2001 as compared to the
same period of fiscal 2000. The increase was principally due to an increase in interest income, the gain from the sale
of an office building constructed by the Company, an increase in earnings from the Company’s ancillary businesses,
offset in part by reduced management fee income in fiscal 2001 compared to fiscal 2000 and gains from the sale of
miscellaneous assets recognized in fiscal 2000.
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11. For the three months ended July 31, 2001, interest and other income increased $2.7 million as compared to the three
months ended July 31, 2000. This increase was primarily the result of a gain realized on the sale of an office
building constructed by the Company, an increase in interest income, an increase in earnings from the Company’s
ancillary businesses, offset in part by reduced management fees in fiscal 2001 compared to 2000 and gains from the
sale of miscellaneous assets recognized in fiscal 2000.
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (“SG&A”)
SG&A spending increased by $33.6 million or 28% and $10.4 million or 23% in the nine month and three month
periods ended July 31, 2001 as compared to the same periods of fiscal 2000. This increased spending was primarily
due to the increase in housing revenues in fiscal 2001 as compared to 2000 and spending related to the development
of its master planned communities.
INTEREST EXPENSE
The Company determines interest expense on a specific lot-by-lot basis for its homebuilding operations and on a
parcel-by-parcel basis for its land sales. As a percentage of total revenues, interest expense will vary depending on
many factors including the period of time that the land was owned, the length of time that the homes delivered
during the period were under construction, and the interest rates and the amount of debt carried by the Company in
proportion to the amount of its inventory during those periods. Interest expense as a percentage of revenues was
approximately the same in both periods of fiscal 2001 and 2000.
INCOME BEFORE INCOME TAXES
Income before taxes increased 66% in the nine month and 60% in the three month period of fiscal 2001 over the
same periods of fiscal 2000.
INCOME TAXES
Income taxes were provided at an effective rate of 36.8% for the nine month periods of fiscal 2001 and 2000. For the
three month periods of fiscal 2001 and 2000, income taxes were provided at 36.9% and 36.7%, respectively. The
difference in rates in the three month periods was due primarily to higher tax free income in fiscal 2000 as compared
to fiscal 2001.
CAPITAL RESOURCES AND LIQUIDITY
Funding for the Company’s operations has been principally provided by cash flows from operations, unsecured bank
borrowings and the public debt and equity markets.
Cash flow from operations, before inventory additions, has improved as operating results have improved. The
Company has used the cash flow from operations, bank borrowings and public debt to acquire additional land for
new communities, to fund additional expenditures for land development and construction costs needed to meet the
requirements of the increased backlog and continuing expansion of the number of communities in which the
Company is offering homes for sale, to repurchase Company stock and to repay debt. The Company expects that
inventory will continue to increase and is currently negotiating and searching for additional opportunities to obtain
control of land for future communities.
The Company has a $485 million unsecured revolving credit facility with fourteen banks of which $445 million
extends to March 2006 and $40 million extends to February 2003. As of July 31, 2001, the Company had $80
million of loans and approximately $43 million of letters of credit outstanding under the facility.
The Company believes that it will be able to continue to fund its activities through a combination of existing cash
resources, cash flow from operations and existing sources of credit.
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13. Three months settlements
2001 2000
units $000 units $000
Northeast (MA,RI,NH,CT,NY,NJ) 243 $ 125,875 290 $ 137,987
Mid-Atlantic (PA,DE,MD,VA) 355 163,381 327 149,203
Midwest (OH,IL,MI) 116 58,965 90 32,613
Southeast (FL,NC,TN) 141 59,844 64 31,377
Southwest (AZ,NV,TX) 155 80,256 187 71,826
West Coast (CA) 119 85,158 53 29,168
Total (1) 1,129 $ 573,479 1,011 $ 452,174
July 31 Backlog
2001 2000
units $000 units $000
Northeast (MA,RI,NH,CT,NY,NJ) 657 $ 331,540 734 $ 367,132
Mid-Atlantic (PA,DE,MD,VA) 946 443,268 813 373,580
Midwest (OH,IL,MI) 349 158,808 313 139,932
Southeast (FL,NC,TN) 377 178,071 308 148,163
Southwest (AZ,NV,TX) 404 215,864 443 209,036
West Coast (CA) 322 251,559 372 230,411
Total (1) 3,055 $ 1,579,110 2,983 $ 1,468,254
(1)Contracts for the three month and nine month periods ended July 31, 2001 include $1,861,000 (6 homes) and
$11,638,000 (41 homes), respectively, from an unconsolidated 50% owned joint venture. Contracts for the three
month and nine month periods ended July 31, 2000 include $4,445,000 (15 homes) and $12,339,000 (45 homes)
from this joint venture. Backlog as of July 31, 2001 and July 31, 2000 includes $9,081,000 (30 homes), and
$13,229,000 (47 homes), respectively, from this joint venture.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Not applicable
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14. PART II. Other Information
ITEM 1. Legal Proceedings
None.
ITEM 2. Changes in Securities and Use of Proceeds
None.
ITEM 3. Defaults upon Senior Securities
None.
ITEM 4. Submission of Matters to a Vote of Security Holders
None.
ITEM 5. Other Information
None.
ITEM 6. Exhibits and Reports on Form 8-K
(a) Exhibits
Exhibit 10.1* Amendment to the Toll Brothers, Inc. Stock Option Plan (1986) effective June 14, 2001.
Exhibit 10.2* Amendment to the Toll Brothers, Inc. Key Executives and Non-Employee Directors Stock
Option Plan (1993) effective June 14, 2001.
Exhibit 10.3* Amendment to the Toll Brothers, Inc. Stock Option and Incentive Plan (1995) effective
March 22, 2001.
Exhibit 10.4* Amendment to the Toll Brothers, Inc. Stock Incentive Plan (1998) effective March 22,
2001.
*Filed electronically herewith.
(b) Reports on form 8-K
During the quarter ended July 31, 2001, the Registrant did not file a current report on Form 8-K
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15. SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned thereunto duly authorized.
TOLL BROTHERS, INC.
(Registrant)
Date: September 6, 2000 By: /s/ Joel H. Rassman
Joel H. Rassman
Senior Vice President,
Treasurer and Chief
Financial Officer
Date: September 6, 2000 By: /s/ Joseph R. Sicree
Joseph R. Sicree
Vice President -
Chief Accounting Officer
(Principal Accounting Officer)
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