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Investments in Unconsolidated Entities (Tables) | 12 Months Ended
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Oct. 31, 2019
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] |
Summary of Joint Venture Information [Table Text Block] | The table below provides information as of October 31, 2019, regarding active joint ventures that we are invested in, by joint venture category ($ amounts in thousands):
| Land Development Joint Ventures |  | Home Building Joint Ventures |  | Rental Property Joint Ventures |  | Gibraltar Joint Ventures |  | Total
Number of unconsolidated entities | 8 |  | 4 |  | 20 |  | 9 |  | 41
Investment in unconsolidated entities | $ | 110,306 |  |  | $ | 60,512 |  |  | $ | 174,292 |  |  | $ | 21,142 |  |  | $ | 366,252 |
Number of unconsolidated entities with funding commitments by the Company | 2 |  | 1 |  | 2 |  | 1 |  |  | 6
Company’s remaining funding commitment to unconsolidated entities | $ | 28,586 |  |  | $ | 1,400 |  |  | $ | 539 |  |  | $ | 8,271 |  |  | $ | 38,796 |
Summary of Joint Ventures Borrowing information [Table Text Block] | Certain joint ventures in which we have investments obtained debt financing to finance a portion of their activities. The table below provides information at October 31, 2019, regarding the debt financing obtained by category ($ amounts in thousands):
| Land Development Joint Ventures |  | Home Building Joint Ventures |  | Rental Property Joint Ventures |  | Total
Number of joint ventures with debt financing | 3 |  | 2 |  | 18 |  | 23
Aggregate loan commitments | $ | 100,859 |  |  | $ | 133,453 |  |  | $ | 1,393,838 |  |  | $ | 1,628,150 |
Amounts borrowed under commitments | $ | 88,252 |  |  | $ | 133,453 |  |  | $ | 1,017,788 |  |  | $ | 1,239,493 |
Condensed balance sheet aggregated by type of business | Condensed Balance Sheets:
| October 31, 2019
| Land Develop- ment Joint Ventures |  | Home Building Joint Ventures |  | Rental Property Joint Ventures |  | Gibraltar Joint Ventures |  | Total
Cash and cash equivalents | $ | 23,669 |  |  | $ | 38,115 |  |  | $ | 20,647 |  |  | $ | 3,388 |  |  | $ | 85,819 |
Inventory | 247,866 |  |  | 313,991 |  |  |  |  |  | 17,369 |  |  | 579,226 |
Loan receivables, net |  |  |  |  |  |  | 56,545 |  |  | 56,545 |
Rental properties |  |  |  |  | 1,021,848 |  |  |  |  | 1,021,848 |
Rental properties under development |  |  |  |  | 535,197 |  |  |  |  |  | 535,197 |
Real estate owned |  |  |  |  |  |  |  | 12,267 |  |  | 12,267 |
Other assets | 96,602 |  |  | 78,916 |  |  | 36,879 |  |  | 364 |  |  | 212,761 |
Total assets | $ | 368,137 |  |  | $ | 431,022 |  |  | $ | 1,614,571 |  |  | $ | 89,933 |  |  | $ | 2,503,663 |
Debt, net of deferred financing costs | $ | 88,050 |  |  | $ | 132,606 |  |  | $ | 1,006,201 |  |  |  |  |  | $ | 1,226,857 |
Other liabilities | 49,302 |  |  | 33,959 |  |  | 84,735 |  |  | 7,831 |  |  | 175,827 |
Members’ equity | 230,785 |  |  | 264,457 |  |  | 523,635 |  |  | 81,686 |  |  | 1,100,563 |
Noncontrolling interest |  |  |  |  |  |  | 416 |  |  | 416 |
Total liabilities and equity | $ | 368,137 |  |  | $ | 431,022 |  |  | $ | 1,614,571 |  |  | $ | 89,933 |  |  | $ | 2,503,663 |
Company’s net investment in unconsolidated entities (1) | $ | 110,306 |  |  | $ | 60,512 |  |  | $ | 174,292 |  |  | $ | 21,142 |  |  | $ | 366,252 |
| October 31, 2018
| Land Develop- ment Joint Ventures |  | Home Building Joint Ventures |  | Rental Property Joint Ventures |  | Gibraltar Joint Ventures |  | Total
Cash and cash equivalents | $ | 47,409 |  |  | $ | 22,834 |  |  | $ | 23,750 |  |  | $ | 8,469 |  |  | $ | 102,462 |
Inventory | 403,670 |  |  | 557,157 |  |  |  |  |  | 13,163 |  |  | 973,990 |
Loan receivables, net |  |  |  |  |  |  | 40,065 |  |  | 40,065 |
Rental properties |  |  |  |  | 808,785 |  |  |  |  | 808,785 |
Rental properties under development |  |  |  |  | 437,586 |  |  |  |  |  | 437,586 |
Real estate owned |  |  |  |  |  |  |  | 14,838 |  |  | 14,838 |
Other assets | 93,322 |  |  | 49,723 |  |  | 21,917 |  |  | 1,067 |  |  | 166,029 |
Total assets | $ | 544,401 |  |  | $ | 629,714 |  |  | $ | 1,292,038 |  |  | $ | 77,602 |  |  | $ | 2,543,755 |
Debt, net of deferred financing costs | $ | 125,557 |  |  | $ | 284,959 |  |  | $ | 735,482 |  |  | $ | — |  |  | $ | 1,145,998 |
Other liabilities | 29,096 |  |  | 72,897 |  |  | 51,992 |  |  | 4,585 |  |  | 158,570 |
Members’ equity | 389,748 |  |  | 271,858 |  |  | 504,564 |  |  | 69,804 |  |  | 1,235,974 |
Noncontrolling interest |  |  |  |  |  |  | 3,213 |  |  | 3,213 |
Total liabilities and equity | $ | 544,401 |  |  | $ | 629,714 |  |  | $ | 1,292,038 |  |  | $ | 77,602 |  |  | $ | 2,543,755 |
Company’s net investment in unconsolidated entities (1) | $ | 176,593 |  |  | $ | 65,936 |  |  | $ | 171,216 |  |  | $ | 18,068 |  |  | $ | 431,813 |
(1) Differences between our net investment in unconsolidated entities and our underlying equity in the net assets of the entities are primarily a result of impairments related to our investments in unconsolidated entities; interest capitalized on our investments; the estimated fair value of the guarantees provided to the joint ventures; unrealized gains on our retained joint venture interests; gains recognized from the sale of our ownership interests; and distributions from entities in excess of the carrying amount of our net investment.
Condensed statements of operations aggregate by type of business | Condensed Statements of Operations and Comprehensive Income:
| For the year ended October 31, 2019
| Land Develop- ment Joint Ventures |  | Home Building Joint Ventures |  | Rental Property Joint Ventures |  | Gibraltar Joint Ventures |  | Total
Revenues | $ | 261,677 |  |  | $ | 374,587 |  |  | $ | 99,401 |  |  | $ | 21,377 |  |  | $ | 757,042 |
Cost of revenues | 247,070 |  |  | 333,008 |  |  | 68,502 |  |  | 13,234 |  |  | 661,814 |
Other expenses | 4,662 |  |  | 15,389 |  |  | 58,928 |  |  | 1,880 |  |  | 80,859 |
Total expenses | 251,732 |  |  | 348,397 |  |  | 127,430 |  |  | 15,114 |  |  | 742,673 |
Gain on disposition of loans and REO |  |  |  |  |  |  |  | 4,383 |  |  | 4,383 |
Income (loss) from operations | 9,945 |  |  | 26,190 |  |  | (28,029 | ) |  | 10,646 |  |  | 18,752 |
Other income | 3,079 |  |  | 6,144 |  |  | 16,651 |  |  | 12,793 |  |  | 38,667 |
Income (loss) before income taxes | 13,024 |  |  | 32,334 |  |  | (11,378 | ) |  | 23,439 |  |  | 57,419 |
Income tax provision | 193 |  |  | 457 |  |  |  |  |  |  |  | 650 |
Net income (loss) including earnings from noncontrolling interests | 12,831 |  |  | 31,877 |  |  | (11,378 | ) |  | 23,439 |  |  | 56,769 |
Less: income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  | (9,593 | ) |  | (9,593 | )
Net income (loss) attributable to controlling interest | $ | 12,831 |  |  | $ | 31,877 |  |  | $ | (11,378 | ) |  | $ | 13,846 |  |  | $ | 47,176 |
Company’s equity (deficit) in earnings of unconsolidated entities (2) | $ | 6,160 |  |  | $ | 17,004 |  |  | $ | (824 | ) |  | $ | 2,528 |  |  | $ | 24,868 |
| For the year ended October 31, 2018
| Land Develop- ment Joint Ventures |  | Home Building Joint Ventures |  | Rental Property Joint Ventures |  | Gibraltar Joint Ventures |  | Total
Revenues | $ | 351,397 |  |  | $ | 148,002 |  |  | $ | 121,276 |  |  | $ | 19,592 |  |  | $ | 640,267 |
Cost of revenues | 317,363 |  |  | 112,469 |  |  | 74,946 |  |  | 17,817 |  |  | 522,595 |
Other expenses | 9,125 |  |  | 8,630 |  |  | 61,502 |  |  | 3,201 |  |  | 82,458 |
Total expenses | 326,488 |  |  | 121,099 |  |  | 136,448 |  |  | 21,018 |  |  | 605,053 |
Gain on disposition of loans and REO |  |  |  |  |  |  |  | 53,192 |  |  | 53,192 |
Income (loss) from operations | 24,909 |  |  | 26,903 |  |  | (15,172 | ) |  | 51,766 |  |  | 88,406 |
Other income | 5,939 |  |  | 2,134 |  |  | 222,744 |  |  | 1,937 |  |  | 232,754 |
Income before income taxes | 30,848 |  |  | 29,037 |  |  | 207,572 |  |  | 53,703 |  |  | 321,160 |
Income tax provision | 86 |  |  | 767 |  |  |  |  |  |  |  |  | 853 |
Net income including earnings from noncontrolling interests | 30,762 |  |  | 28,270 |  |  | 207,572 |  |  | 53,703 |  |  | 320,307 |
Less: income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  | (28,297 | ) |  | (28,297 | )
Net income attributable to controlling interest | $ | 30,762 |  |  | $ | 28,270 |  |  | $ | 207,572 |  |  | $ | 25,406 |  |  | $ | 292,010 |
Company’s equity in earnings of unconsolidated entities (2) | $ | 3,392 |  |  | $ | 14,069 |  |  | $ | 62,204 |  |  | $ | 5,575 |  |  | $ | 85,240 |
| For the year ended October 31, 2017
| Land Develop- ment Joint Ventures |  | Home Building Joint Ventures |  | Rental Property Joint Ventures |  | Gibraltar Joint Ventures |  | Total
Revenues | $ | 288,440 |  |  | $ | 475,260 |  |  | $ | 115,519 |  |  | $ | 10,090 |  |  | $ | 889,309 |
Cost of revenues | 191,965 |  |  | 286,446 |  |  | 70,108 |  |  | 14,428 |  |  | 562,947 |
Other expenses | 6,508 |  |  | 13,102 |  |  | 59,503 |  |  | 3,942 |  |  | 83,055 |
Total expenses | 198,473 |  |  | 299,548 |  |  | 129,611 |  |  | 18,370 |  |  | 646,002 |
Gain on disposition of loans and REO |  |  |  |  |  |  |  | 48,079 |  |  | 48,079 |
Income (loss) from operations | 89,967 |  |  | 175,712 |  |  | (14,092 | ) |  | 39,799 |  |  | 291,386 |
Other income | 4,723 |  |  | 7,317 |  |  | 1,556 |  |  | 432 |  |  | 14,028 |
Income (loss) before income taxes | 94,690 |  |  | 183,029 |  |  | (12,536 | ) |  | 40,231 |  |  | 305,414 |
Income tax provision | 94 |  |  | 7,473 |  |  | 95 |  |  |  |  |  | 7,662 |
Net income (loss) including earnings from noncontrolling interests | 94,596 |  |  | 175,556 |  |  | (12,631 | ) |  | 40,231 |  |  | 297,752 |
Less: income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  | (20,439 | ) |  | (20,439 | )
Net income (loss) attributable to controlling interest | 94,596 |  |  | 175,556 |  |  | (12,631 | ) |  | 19,792 |  |  | 277,313 |
Company’s equity in earnings of unconsolidated entities (2) | $ | 13,007 |  |  | $ | 77,339 |  |  | $ | 21,458 |  |  | $ | 4,262 |  |  | $ | 116,066 |
(2) Differences between our equity in earnings of unconsolidated entities and the underlying net income (loss) of the entities are primarily a result of a basis difference of an acquired joint venture interest; distributions from entities in excess of the carrying amount of our net investment; recoveries of previously incurred charges; unrealized gains on our retained joint venture interests; and our share of the entities’ profits related to home sites purchased by us which reduces our cost basis of the home sites acquired.

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