Full Description

Toll Brothers, Inc. is engaged in designing, building, marketing and arranging finance for single-family detached and attached homes in luxury residential communities. The Company is also involved, directly and through joint ventures, in projects where it is building, or converting existing rental apartment buildings into high-, mid- and low-rise luxury homes. The Company caters to the move-up, empty-nester, active-adult, age-qualified and second-home buyers in 21 states of the United States. During the fiscal year ended October 31, 2008 (fiscal 2008), the Company delivered 4,831 homes from 370 communities. The Company operates its own land development, architectural, engineering, mortgage, title, landscaping, lumber distribution, house component assembly, and manufacturing operations. It also develops, owns and operates golf courses and clubs.

In fiscal 2008, the Company were operating from 323 communities containing approximately 22,560 home sites that are owned or controlled through the options. Of the 22,560 home sites, 20,514 were available for sale and 2,046 were under agreement of sale but not delivered. Of the 323 communities, 273 were offering homes for sale, 21 had been offering homes for sale but were temporarily closed due to business conditions or the lack of availability of improved home sites, two were preparing to open and 27 were sold out but not all homes had been completed and delivered. In fiscal 2008, the Company also owned or controlled through options approximately 17,224 home sites in 137 proposed communities. In fiscal 2008, the Company were offering single-family detached homes in 194 communities. In fiscal 2008, the Company were offering attached homes in 79 communities.

In the single-family detached home communities, the Company offers at least four different house floor plans with different architectural styles. In addition, the exterior of each basic floor plan may be varied further by the use of stone, stucco, brick or siding. The attached home communities offer different floor plans with two, three or four bedrooms.