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Other Income – Net | 6 Months Ended
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Apr. 30, 2025
Other Income and Expenses [Abstract] |
Other Income – Net | Other Income – Net The table below provides the significant components of “Other income – net” (amounts in thousands):
| Three months ended April 30, |  | Six months ended April 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Interest income | $ | 7,054 |  |  | $ | 9,007 |  |  | $ | 16,023 |  |  | $ | 19,475 |
Income from ancillary businesses | 9,068 |  |  | 4,907 |  |  | 8,189 |  |  | 5,747 |
Management fee income earned by home building operations | 972 |  |  | 1,157 |  |  | 1,771 |  |  | 2,306 |
Other | (758) |  |  | 5,295 |  |  | 1,347 |  |  | 4,756 |
Total other income – net | $ | 16,336 |  |  | $ | 20,366 |  |  | $ | 27,330 |  |  | $ | 32,284 |
Income from ancillary businesses is generated by our mortgage, title, landscaping, smart home technology, apartment living, city living, and golf course and country club operations. The table below provides, for the periods indicated, revenues and expenses for our ancillary businesses (amounts in thousands):
| Three months ended April 30, |  | Six months ended April 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenues | $ | 47,580 |  |  | $ | 39,159 |  |  | $ | 84,363 |  |  | $ | 71,460 |
Expenses | $ | 38,512 |  |  | $ | 34,252 |  |  | $ | 76,174 |  |  | $ | 65,713 |
In the three-month and six-month periods ending April 30, 2024, our smart home technology business recognized a $4.4 million gain from a bulk sale of security monitoring accounts, which is included in income from ancillary businesses above. No similar amounts were recognized in the three-month and six-month periods ending April 30, 2025. In the six-month period ending April 30, 2025, we recognized $4.4 million of net write-offs related to previously incurred costs that we believed not to be recoverable in our apartment rental development business operations. In the three-month and six-month periods ending April 30, 2024, we recognized $5.0 million of net write-offs related to previously incurred costs that we believed not to be recoverable in our apartment rental development business operations. No similar charges were recognized in the three-month period ending April 30, 2025. In the three-month periods ended April 30, 2025 and 2024, income from ancillary businesses included management fees earned on our apartment rental development, high-rise urban luxury condominium, and other unconsolidated entities and operations totaling $6.1 million and $9.5 million, respectively. In the six-month periods ended April 30, 2025 and 2024, income from ancillary businesses included management fees earned on our apartment rental development, high-rise urban luxury condominium, and other unconsolidated entities and operations totaling $13.2 million and $17.1 million, respectively. In the three-month and six-month periods ending April 30, 2024, we recognized a $5.0 million gain related to an investment we held in a privately held company which sold substantially all of its assets to a third party, which is included in “Other” above. No similar amounts were recognized in the three-month and six-month periods ending April 30, 2025.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/720/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 610 -Publisher FASB -URI https://asc.fasb.org/610/tableOfContent + Details
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