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Note 22 | 9 Months Ended
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Jul. 31, 2012
Condensed Financial Statements Disclosure [Text Block] | 22. Hovnanian Enterprises, Inc., the parent company (the “Parent”), is the issuer of publicly traded common stock, preferred stock, which is represented by depository shares, and 7.25% Tangible Equity Units. One of its wholly owned subsidiaries, K. Hovnanian Enterprises, Inc. (the “Subsidiary Issuer”), acts as a finance entity that as of July 31, 2012, had issued and outstanding approximately $992.0 million of senior secured notes ($967.9 million, net of discount), $460.6 million senior notes ($458.6 million, net of discount), and $7.0 million senior subordinated amortizing notes (issued as a component of our 7.25% Tangible Equity Units). The senior secured notes, senior notes, and senior subordinated amortizing notes are fully and unconditionally guaranteed by the Parent. In addition to the Parent, each of the wholly owned subsidiaries of the Parent other than the Subsidiary Issuer (collectively, “Guarantor Subsidiaries”), with the exception of our home mortgage subsidiaries, certain of our title insurance subsidiaries, joint ventures, subsidiaries holding interests in our joint ventures and our foreign subsidiary (collectively, the “Nonguarantor Subsidiaries”), have guaranteed fully and unconditionally, on a joint and several basis, the obligations of the Subsidiary Issuer to pay principal and interest under the senior secured notes, senior notes, and senior subordinated amortizing notes other than the 2021 Notes. The 2021 Notes are guaranteed by the Guarantor Subsidiaries and the members of the Secured Group (see Note 11). All of the senior secured notes, senior notes and senior subordinated amortizing notes have been registered under the Securities Act of 1933, as amended, except the 2021 notes, which are not, pursuant to the indenture under which they were issued, required to be registered. The Condensed Consolidating Financial Statements presented below are in respect of our registered notes only and not the 2021 Notes. In lieu of providing separate financial statements for the Guarantor Subsidiaries of our registered senior secured, senior and senior subordinated amortizing notes, we have included the accompanying Condensed Consolidating Financial Statements. Management does not believe that separate financial statements of the Guarantor Subsidiaries of our registered notes are material to users of our Condensed Consolidated Financial Statements. Therefore, separate financial statements and other disclosures concerning such Guarantor Subsidiaries are not presented. The following Condensed Consolidating Financial Statements present the results of operations, financial position and cash flows of (i) the Parent, (ii) the Subsidiary Issuer, (iii) the Guarantor Subsidiaries, (iv) the Nonguarantor Subsidiaries and (v) the eliminations to arrive at the information for Hovnanian Enterprises, Inc. on a consolidated basis. HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING BALANCE SHEET JULY 31, 2012 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 10,793 |  |  | $ | 183,869 |  |  | $ | 1,076,088 |  |  | $ | 236,465 |  |  | $ | - |  |  | $ | 1,507,215 |
Financial services |  |  |  |  |  |  |  |  |  |  | 9,496 |  |  |  | 108,132 |  |  |  |  |  |  |  | 117,628 |
Investments in and amounts due to and from consolidated subsidiaries |  |  | (371,004 | ) |  |  | 2,027,698 |  |  |  | (2,420,053 | ) |  |  | 9,570 |  |  |  | 753,789 |  |  |  | - |
Total assets |  | $ | (360,211 | ) |  | $ | 2,211,567 |  |  | $ | (1,334,469 | ) |  | $ | 354,167 |  |  | $ | 753,789 |  |  | $ | 1,624,843 |
LIABILITIES AND EQUITY: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 4,329 |  |  | $ | (361 | ) |  | $ | 416,675 |  |  | $ | 36,918 |  |  | $ | - |  |  | $ | 457,561 |
Financial services |  |  |  |  |  |  |  |  |  |  | 9,341 |  |  |  | 90,563 |  |  |  |  |  |  |  | 99,904 |
Notes payable |  |  |  |  |  |  | 1,464,809 |  |  |  | 78 |  |  |  |  |  |  |  |  |  |  |  | 1,464,887 |
Income taxes payable |  |  | 39,923 |  |  |  |  |  |  |  | (33,231 | ) |  |  |  |  |  |  |  |  |  |  | 6,692 |
Stockholders’ (deficit) equity |  |  | (404,463 | ) |  |  | 747,119 |  |  |  | (1,727,332 | ) |  |  | 226,424 |  |  |  | 753,789 |  |  |  | (404,463 | )
Non-controlling interest in consolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 262 |  |  |  |  |  |  |  | 262 |
Total liabilities and equity |  | $ | (360,211 | ) |  | $ | 2,211,567 |  |  | $ | (1,334,469 | ) |  | $ | 354,167 |  |  | $ | 753,789 |  |  | $ | 1,624,843 |
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING BALANCE SHEET OCTOBER 31, 2011 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 12,756 |  |  | $ | 200,281 |  |  | $ | 1,096,594 |  |  | $ | 207,443 |  |  | $ | - |  |  | $ | 1,517,074 |
Financial services |  |  |  |  |  |  |  |  |  |  | 4,537 |  |  |  | 80,569 |  |  |  |  |  |  |  | 85,106 |
Investments in and amounts due to and from consolidated subsidiaries |  |  | (467,562 | ) |  |  | 2,140,349 |  |  |  | (2,435,348 | ) |  |  | (9,364 | ) |  |  | 771,925 |  |  |  | - |
Total assets |  | $ | (454,806 | ) |  | $ | 2,340,630 |  |  | $ | (1,334,217 | ) |  | $ | 278,648 |  |  | $ | 771,925 |  |  | $ | 1,602,180 |
LIABILITIES AND EQUITY: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 2,172 |  |  | $ | (33 | ) |  | $ | 355,191 |  |  | $ | 11,276 |  |  | $ | - |  |  | $ | 368,606 |
Financial services |  |  |  |  |  |  |  |  |  |  | 4,231 |  |  |  | 60,015 |  |  |  |  |  |  |  | 64,246 |
Notes payable |  |  |  |  |  |  | 1,623,957 |  |  |  | 144 |  |  |  |  |  |  |  |  |  |  |  | 1,624,101 |
Income tax payable |  |  | 39,716 |  |  |  |  |  |  |  | 2,113 |  |  |  |  |  |  |  |  |  |  |  | 41,829 |
Stockholders’ (deficit) equity |  |  | (496,694 | ) |  |  | 716,706 |  |  |  | (1,695,896 | ) |  |  | 207,265 |  |  |  | 771,925 |  |  |  | (496,694 | )
Non-controlling interest in consolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 92 |  |  |  |  |  |  |  | 92 |
Total liabilities and equity |  | $ | (454,806 | ) |  | $ | 2,340,630 |  |  | $ | (1,334,217 | ) |  | $ | 278,648 |  |  | $ | 771,925 |  |  | $ | 1,602,180 |
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS THREE MONTHS ENDED JULY 31, 2012 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 4 |  |  | $ | (92 | ) |  | $ | 356,862 |  |  | $ | 20,701 |  |  | $ | (1,251 | ) |  | $ | 376,224 |
Financial services |  |  |  |  |  |  |  |  |  |  | 2,237 |  |  |  | 8,550 |  |  |  |  |  |  |  | 10,787 |
Intercompany charges |  |  |  |  |  |  | 53,026 |  |  |  | (15,107 | ) |  |  | (234 | ) |  |  | (37,685 | ) |  |  | - |
Total revenues |  | $ | 4 |  |  | $ | 52,934 |  |  | $ | 343,992 |  |  | $ | 29,017 |  |  | $ | (38,936 | ) |  | $ | 387,011 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | 1,640 |  |  |  | 88,266 |  |  |  | 352,332 |  |  |  | 14,572 |  |  |  | (67,011 | ) |  |  | 389,799 |
Financial services |  |  | 23 |  |  |  |  |  |  |  | 1,407 |  |  |  | 4,679 |  |  |  | 2 |  |  |  | 6,111 |
Total expenses |  |  | 1,663 |  |  |  | 88,266 |  |  |  | 353,739 |  |  |  | 19,251 |  |  |  | (67,009 | ) |  |  | 395,910 |
Gain on extinguishment of debt |  |  |  |  |  |  | 6,230 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,230 |
Income from unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  | 30 |  |  |  | 822 |  |  |  |  |  |  |  | 852 |
(Loss) income before income taxes |  |  | (1,659 | ) |  |  | (29,102 | ) |  |  | (9,717 | ) |  |  | 10,588 |  |  |  | 28,073 |  |  |  | (1,817 | )
State and federal income tax (benefit) |  |  | (4,261 | ) |  |  |  |  |  |  | (32,232 | ) |  |  |  |  |  |  |  |  |  |  | (36,493 | )
Equity in income (loss) of consolidated subsidiaries |  |  | 32,074 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (32,074 | ) |  |  | - |
Net income (loss) |  | $ | 34,676 |  |  | $ | (29,102 | ) |  | $ | 22,515 |  |  | $ | 10,588 |  |  | $ | (4,001 | ) |  | $ | 34,676 |
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS THREE MONTHS ENDED JULY 31, 2011 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 17 |  |  | $ | (25 | ) |  | $ | 277,591 |  |  | $ | 1,425 |  |  | $ | (1,240 | ) |  | $ | 277,768 |
Financial services |  |  |  |  |  |  |  |  |  |  | 1,409 |  |  |  | 6,441 |  |  |  |  |  |  |  | 7,850 |
Intercompany charges |  |  |  |  |  |  | 28,679 |  |  |  | (31,769 | ) |  |  | (71 | ) |  |  | 3,161 |  |  |  | - |
Total revenues |  |  | 17 |  |  |  | 28,654 |  |  |  | 247,231 |  |  |  | 7,795 |  |  |  | 1,921 |  |  |  | 285,618 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | 1,159 |  |  |  | 40,672 |  |  |  | 291,688 |  |  |  | (525 | ) |  |  | (994 | ) |  |  | 332,000 |
Financial services |  |  | 76 |  |  |  |  |  |  |  | 1,241 |  |  |  | 4,230 |  |  |  |  |  |  |  | 5,547 |
Total expenses |  |  | 1,235 |  |  |  | 40,672 |  |  |  | 292,929 |  |  |  | 3,705 |  |  |  | (994 | ) |  |  | 337,547 |
Loss on extinguishment of debt |  |  |  |  |  |  | (1,391 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,391 | )
Loss from unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  | (100 | ) |  |  | (2,155 | ) |  |  |  |  |  |  | (2,255 | )
(Loss) income before income taxes |  |  | (1,218 | ) |  |  | (13,409 | ) |  |  | (45,798 | ) |  |  | 1,935 |  |  |  | 2,915 |  |  |  | (55,575 | )
State and federal income tax (benefit) |  |  | (4,631 | ) |  |  |  |  |  |  | (14 | ) |  |  |  |  |  |  |  |  |  |  | (4,645 | )
Equity in (loss) income of consolidated subsidiaries |  |  | (54,343 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 54,343 |  |  |  | - |
Net (loss) income |  | $ | (50,930 | ) |  | $ | (13,409 | ) |  | $ | (45,784 | ) |  | $ | 1,935 |  |  | $ | 57,258 |  |  | $ | (50,930 | )
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS NINE MONTHS ENDED JULY 31, 2012 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 8 |  |  | $ | (197 | ) |  | $ | 934,330 |  |  | $ | 41,907 |  |  | $ | (3,729 | ) |  | $ | 972,319 |
Financial services |  |  |  |  |  |  |  |  |  |  | 5,232 |  |  |  | 20,758 |  |  |  |  |  |  |  | 25,990 |
Intercompany charges |  |  |  |  |  |  | 76,975 |  |  |  | (46,238 | ) |  |  | (3,682 | ) |  |  | (27,055 | ) |  |  | - |
Total revenues |  | $ | 8 |  |  | $ | 76,778 |  |  | $ | 893,324 |  |  | $ | 58,983 |  |  | $ | (30,784 | ) |  | $ | 998,309 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | 5,815 |  |  |  | 112,342 |  |  |  | 954,080 |  |  |  | 29,144 |  |  |  | (42,392 | ) |  |  | 1,058,989 |
Financial services |  |  | 103 |  |  |  |  |  |  |  | 3,967 |  |  |  | 12,592 |  |  |  | (11 | ) |  |  | 16,651 |
Total expenses |  |  | 5,918 |  |  |  | 112,342 |  |  |  | 958,047 |  |  |  | 41,736 |  |  |  | (42,403 | ) |  |  | 1,075,640 |
Gain on extinguishment of d ebt |  |  |  |  |  |  | 57,966 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 57,966 |
Income from unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  | 521 |  |  |  | 1,803 |  |  |  |  |  |  |  | 2,324 |
(L(Loss) income before income taxes |  |  | (5,910 | ) |  |  | 22,402 |  |  |  | (64,202 | ) |  |  | 19,050 |  |  |  | 11,619 |  |  |  | (17,041 | )
State and federal income tax benefit |  |  | 12,929 |  |  |  |  |  |  |  | 22,325 |  |  |  |  |  |  |  |  |  |  |  | 35,254 |
Equity in income (loss) of consolidated subsidiaries |  |  | 11,194 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (11,194 | ) |  |  | - |
Net income (loss) |  | $ | 18,213 |  |  | $ | 22,402 |  |  | $ | (41,877 | ) |  | $ | 19,050 |  |  | $ | 425 |  |  | $ | 18,213 |
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS NINE MONTHS ENDED JULY 31, 2011 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 24 |  |  | $ | (223 | ) |  | $ | 773,299 |  |  | $ | 3,652 |  |  | $ | (3,719 | ) |  | $ | 773,033 |
Financial services |  |  |  |  |  |  |  |  |  |  | 3,951 |  |  |  | 16,298 |  |  |  |  |  |  |  | 20,249 |
Intercompany charges |  |  |  |  |  |  | 85,294 |  |  |  | (98,066 | ) |  |  | (428 | ) |  |  | 13,200 |  |  |  | - |
Total revenues |  | $ | 24 |  |  | $ | 85,071 |  |  | $ | 679,184 |  |  | $ | 19,522 |  |  | $ | 9,481 |  |  | $ | 793,282 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | 4,261 |  |  |  | 119,657 |  |  |  | 838,298 |  |  |  | 330 |  |  |  | (1,152 | ) |  |  | 961,394 |
Financial services |  |  | 246 |  |  |  |  |  |  |  | 3,717 |  |  |  | 12,234 |  |  |  | (3 | ) |  |  | 16,194 |
Total expenses |  |  | 4,507 |  |  |  | 119,657 |  |  |  | 842,015 |  |  |  | 12,564 |  |  |  | (1,155 | ) |  |  | 977,588 |
Loss on extinguishment of debt |  |  |  |  |  |  | (3,035 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,035 | )
Loss from unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  | (801 | ) |  |  | (5,678 | ) |  |  |  |  |  |  | (6,479 | )
(Loss) income before income taxes |  |  | (4,483 | ) |  |  | (37,621 | ) |  |  | (163,632 | ) |  |  | 1,280 |  |  |  | 10,636 |  |  |  | (193,820 | )
State and federal income tax (benefit) provision |  |  | (15,599 | ) |  |  |  |  |  |  | 9,518 |  |  |  |  |  |  |  |  |  |  |  | (6,081 | )
Equity in (loss) income of consolidated subsidiaries |  |  | (198,855 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 198,855 |  |  |  | - |
Net (loss) income |  | $ | (187,739 | ) |  | $ | (37,621 | ) |  | $ | (173,150 | ) |  | $ | 1,280 |  |  | $ | 209,491 |  |  | $ | (187,739 | )
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS NINE MONTHS ENDED JULY 31, 2012 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 18,213 |  |  | $ | 22,402 |  |  | $ | (41,877 | ) |  | $ | 19,050 |  |  | $ | 425 |  |  | $ | 18,213 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities |  |  | 31,198 |  |  |  | (28,260 | ) |  |  | (4,336 | ) |  |  | (78,465 | ) |  |  | (425 | ) |  |  | (80,288 | )
Net cash provided by (used in) operating activities |  |  | 49,411 |  |  |  | (5,858 | ) |  |  | (46,213 | ) |  |  | (59,415 | ) |  |  | - |  |  |  | (62,075 | )
Net cash provided by (used in) investing activities |  |  |  |  |  |  | 26 |  |  |  | (2,178 | ) |  |  | 242 |  |  |  |  |  |  |  | (1,910 | )
Net cash provided by (used in) financing activities |  |  | 47,147 |  |  |  | (94,309 | ) |  |  | 50,954 |  |  |  | 43,423 |  |  |  |  |  |  |  | 47,215 |
Intercompany investing and financing activities – net |  |  | (96,558 | ) |  |  | 112,651 |  |  |  | 2,841 |  |  |  | (18,934 | ) |  |  |  |  |  |  | - |
Net increase (decrease) in cash |  |  | - |  |  |  | 12,510 |  |  |  | 5,404 |  |  |  | (34,684 | ) |  |  | - |  |  |  | (16,770 | )
Cash and cash equivalents balance, beginning of period |  |  | - |  |  |  | 112,122 |  |  |  | (4,989 | ) |  |  | 143,607 |  |  |  | - |  |  |  | 250,740 |
Cash and cash equivalents balance, end of period |  | $ | - |  |  | $ | 124,632 |  |  | $ | 415 |  |  | $ | 108,923 |  |  | $ | - |  |  | $ | 233,970 |
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS NINE MONTHS ENDED JULY 31, 2011 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (187,739 | ) |  | $ | (37,621 | ) |  | $ | (173,150 | ) |  | $ | 1,280 |  |  | $ | 209,491 |  |  | $ | (187,739 | )
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities |  |  | 85,787 |  |  |  | (15,216 | ) |  |  | 148,195 |  |  |  | (777 | ) |  |  | (209,491 | ) |  |  | 8,498 |
Net cash (used in) provided by operating activities |  |  | (101,952 | ) |  |  | (52,837 | ) |  |  | (24,955 | ) |  |  | 503 |  |  |  | - |  |  |  | (179,241 | )
Net cash provided by (used in) investing activities |  |  |  |  |  |  |  |  |  |  | 577 |  |  |  | (659 | ) |  |  |  |  |  |  | (82 | )
Net cash provided by (used in) financing activities |  |  | 54,899 |  |  |  | 71,552 |  |  |  | 61 |  |  |  | (31,984 | ) |  |  |  |  |  |  | 94,528 |
Intercompany investing and financing activities – net |  |  | 47,043 |  |  |  | (82,916 | ) |  |  | 31,484 |  |  |  | 4,389 |  |  |  |  |  |  |  | - |
Net (decrease) increase in cash |  |  | (10 | ) |  |  | (64,201 | ) |  |  | 7,167 |  |  |  | (27,751 | ) |  |  | - |  |  |  | (84,795 | )
Cash and cash equivalents balance, beginning of period |  |  | 10 |  |  |  | 212,370 |  |  |  | (12,812 | ) |  |  | 167,612 |  |  |  | - |  |  |  | 367,180 |
Cash and cash equivalents balance, end of period |  | $ | - |  |  | $ | 148,169 |  |  | $ | (5,645 | ) |  | $ | 139,861 |  |  | $ | - |  |  | $ | 282,385 |
In connection with a proposed issuance of units (the "Proposed Units") by the Subsidiary Issuer, it is anticipated that certain of the Parent’s wholly owned subsidiaries (collectively "Units Guarantor Subsidiaries") will fully and unconditionally guarantee, on a joint and several basis, the components of such Proposed Units. Each Units Guarantor Subsidiaries is 100% owned by the Parent. The following Condensed Consolidating Financial Statements presents the results of operations, financial position and cash flows of (i) the Parent, (ii) the Subsidiary Issuer, (iii) the Units Guarantor Subsidiaries, (iv) the Parent's subsidiaries that do not guarantee the components of the Proposed Units and (v) the elimination to arrive at the information for Hovnanian Enterprises, Inc. on a consolidated basis. HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING BALANCE SHEET JULY 31, 2012 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Units Guarantor Subsidiaries |  |  | Units Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 10,793 |  |  | $ | 183,869 |  |  | $ | 1,025,979 |  |  | $ | 286,574 |  |  | $ | - |  |  | $ | 1,507,215 |
Financial services |  |  |  |  |  |  |  |  |  |  | 9,496 |  |  |  | 108,132 |  |  |  |  |  |  |  | 117,628 |
Investments in and amounts due to and from consolidated subsidiaries |  |  | (371,004 | ) |  |  | 2,027,698 |  |  |  | (2,425,600 | ) |  |  | 15,117 |  |  |  | 753,789 |  |  |  | - |
Total assets |  | $ | (360,211 | ) |  | $ | 2,211,567 |  |  | $ | (1,390,125 | ) |  | $ | 409,823 |  |  | $ | 753,789 |  |  | $ | 1,624,843 |
LIABILITIES AND EQUITY: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 4,329 |  |  | $ | (361 | ) |  | $ | 379,412 |  |  | $ | 74,181 |  |  | $ | - |  |  | $ | 457,561 |
Financial services |  |  |  |  |  |  |  |  |  |  | 9,341 |  |  |  | 90,563 |  |  |  |  |  |  |  | 99,904 |
Notes payable |  |  |  |  |  |  | 1,464,809 |  |  |  | 78 |  |  |  |  |  |  |  |  |  |  |  | 1,464,887 |
Income taxes payable |  |  | 39,923 |  |  |  |  |  |  |  | (33,231 | ) |  |  |  |  |  |  |  |  |  |  | 6,692 |
Stockholders’ (deficit) equity |  |  | (404,463 | ) |  |  | 747,119 |  |  |  | (1,745,725 | ) |  |  | 244,817 |  |  |  | 753,789 |  |  |  | (404,463 | )
Non-controlling interest in consolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 262 |  |  |  |  |  |  |  | 262 |
Total liabilities and equity |  | $ | (360,211 | ) |  | $ | 2,211,567 |  |  | $ | (1,390,125 | ) |  | $ | 409,823 |  |  | $ | 753,789 |  |  | $ | 1,624,843 |
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING BALANCE SHEET OCTOBER 31, 2011 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Units Guarantor Subsidiaries |  |  | Units Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 12,756 |  |  | $ | 200,281 |  |  | $ | 1,091,511 |  |  | $ | 212,526 |  |  | $ | - |  |  | $ | 1,517,074 |
Financial services |  |  |  |  |  |  |  |  |  |  | 4,537 |  |  |  | 80,569 |  |  |  |  |  |  |  | 85,106 |
Investments in and amounts due to and from consolidated subsidiaries |  |  | (467,562 | ) |  |  | 2,140,349 |  |  |  | (2,430,491 | ) |  |  | (14,221 | ) |  |  | 771,925 |  |  |  | - |
Total assets |  | $ | (454,806 | ) |  | $ | 2,340,630 |  |  | $ | (1,334,443 | ) |  | $ | 278,874 |  |  | $ | 771,925 |  |  | $ | 1,602,180 |
LIABILITIES AND EQUITY: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 2,172 |  |  | $ | (33 | ) |  | $ | 354,528 |  |  | $ | 11,939 |  |  | $ | - |  |  | $ | 368,606 |
Financial services |  |  |  |  |  |  |  |  |  |  | 4,231 |  |  |  | 60,015 |  |  |  |  |  |  |  | 64,246 |
Notes payable |  |  |  |  |  |  | 1,623,957 |  |  |  | 144 |  |  |  |  |  |  |  |  |  |  |  | 1,624,101 |
Income tax payable |  |  | 39,716 |  |  |  |  |  |  |  | 2,113 |  |  |  |  |  |  |  |  |  |  |  | 41,829 |
Stockholders’ (deficit) equity |  |  | (496,694 | ) |  |  | 716,706 |  |  |  | (1,695,459 | ) |  |  | 206,828 |  |  |  | 771,925 |  |  |  | (496,694 | )
Non-controlling interest in consolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 92 |  |  |  |  |  |  |  | 92 |
Total liabilities and equity |  | $ | (454,806 | ) |  | $ | 2,340,630 |  |  | $ | (1,334,443 | ) |  | $ | 278,874 |  |  | $ | 771,925 |  |  | $ | 1,602,180 |
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS THREE MONTHS ENDED JULY 31, 2012 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Units Guarantor Subsidiaries |  |  | Units Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 4 |  |  | $ | (92 | ) |  | $ | 345,957 |  |  | $ | 31,606 |  |  | $ | (1,251 | ) |  | $ | 376,224 |
Financial services |  |  |  |  |  |  |  |  |  |  | 2,237 |  |  |  | 8,550 |  |  |  |  |  |  |  | 10,787 |
Intercompany charges |  |  |  |  |  |  | 53,026 |  |  |  | (14,924 | ) |  |  | (417 | ) |  |  | (37,685 | ) |  |  | - |
Total revenues |  | $ | 4 |  |  | $ | 52,934 |  |  | $ | 333,270 |  |  | $ | 39,739 |  |  | $ | (38,936 | ) |  | $ | 387,011 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | 1,640 |  |  |  | 88,266 |  |  |  | 342,291 |  |  |  | 24,613 |  |  |  | (67,011 | ) |  |  | 389,799 |
Financial services |  |  | 23 |  |  |  |  |  |  |  | 1,407 |  |  |  | 4,679 |  |  |  | 2 |  |  |  | 6,111 |
Total expenses |  |  | 1,663 |  |  |  | 88,266 |  |  |  | 343,698 |  |  |  | 29,292 |  |  |  | (67,009 | ) |  |  | 395,910 |
Gain on extinguishment of debt |  |  |  |  |  |  | 6,230 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,230 |
Income from unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  | 30 |  |  |  | 822 |  |  |  |  |  |  |  | 852 |
(Loss) income before income taxes |  |  | (1,659 | ) |  |  | (29,102 | ) |  |  | (10,398 | ) |  |  | 11,269 |  |  |  | 28,073 |  |  |  | (1,817 | )
State and federal income tax (benefit) |  |  | (4,261 | ) |  |  |  |  |  |  | (32,016 | ) |  |  | (216 | ) |  |  |  |  |  |  | (36,493 | )
Equity in income (loss) of consolidated subsidiaries |  |  | 32,074 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (32,074 | ) |  |  | - |
Net income (loss) |  | $ | 34,676 |  |  | $ | (29,102 | ) |  | $ | 21,618 |  |  | $ | 11,485 |  |  | $ | (4,001 | ) |  | $ | 34,676 |
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS THREE MONTHS ENDED JULY 31, 2011 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Units Guarantor Subsidiaries |  |  | Units Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 17 |  |  | $ | (25 | ) |  | $ | 277,591 |  |  | $ | 1,425 |  |  | $ | (1,240 | ) |  | $ | 277,768 |
Financial services |  |  |  |  |  |  |  |  |  |  | 1,409 |  |  |  | 6,441 |  |  |  |  |  |  |  | 7,850 |
Intercompany charges |  |  |  |  |  |  | 28,679 |  |  |  | (31,754 | ) |  |  | (86 | ) |  |  | 3,161 |  |  |  | - |
Total revenues |  |  | 17 |  |  |  | 28,654 |  |  |  | 247,246 |  |  |  | 7,780 |  |  |  | 1,921 |  |  |  | 285,618 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | 1,159 |  |  |  | 40,672 |  |  |  | 291,579 |  |  |  | (416 | ) |  |  | (994 | ) |  |  | 332,000 |
Financial services |  |  | 76 |  |  |  |  |  |  |  | 1,241 |  |  |  | 4,230 |  |  |  |  |  |  |  | 5,547 |
Total expenses |  |  | 1,235 |  |  |  | 40,672 |  |  |  | 292,820 |  |  |  | 3,814 |  |  |  | (994 | ) |  |  | 337,547 |
Loss on extinguishment of debt |  |  |  |  |  |  | (1,391 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,391 | )
Loss from unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  | (100 | ) |  |  | (2,155 | ) |  |  |  |  |  |  | (2,255 | )
(Loss) income before income taxes |  |  | (1,218 | ) |  |  | (13,409 | ) |  |  | (45,674 | ) |  |  | 1,811 |  |  |  | 2,915 |  |  |  | (55,575 | )
State and federal income tax (benefit) |  |  | (4,631 | ) |  |  |  |  |  |  | (14 | ) |  |  |  |  |  |  |  |  |  |  | (4,645 | )
Equity in (loss) income of consolidated subsidiaries |  |  | (54,343 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 54,343 |  |  |  | - |
Net (loss) income |  | $ | (50,930 | ) |  | $ | (13,409 | ) |  | $ | (45,660 | ) |  | $ | 1,811 |  |  | $ | 57,258 |  |  | $ | (50,930 | )
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS NINE MONTHS ENDED JULY 31, 2012 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Units Guarantor Subsidiaries |  |  | Units Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 8 |  |  | $ | (197 | ) |  | $ | 922,078 |  |  | $ | 54,159 |  |  | $ | (3,729 | ) |  | $ | 972,319 |
Financial services |  |  |  |  |  |  |  |  |  |  | 5,232 |  |  |  | 20,758 |  |  |  |  |  |  |  | 25,990 |
Intercompany charges |  |  |  |  |  |  | 76,975 |  |  |  | (45,952 | ) |  |  | (3,968 | ) |  |  | (27,055 | ) |  |  | - |
Total revenues |  | $ | 8 |  |  | $ | 76,778 |  |  | $ | 881,358 |  |  | $ | 70,949 |  |  | $ | (30,784 | ) |  | $ | 998,309 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | 5,815 |  |  |  | 112,342 |  |  |  | 942,758 |  |  |  | 40,466 |  |  |  | (42,392 | ) |  |  | 1,058,989 |
Financial services |  |  | 103 |  |  |  |  |  |  |  | 3,967 |  |  |  | 12,592 |  |  |  | (11 | ) |  |  | 16,651 |
Total expenses |  |  | 5,918 |  |  |  | 112,342 |  |  |  | 946,725 |  |  |  | 53,058 |  |  |  | (42,403 | ) |  |  | 1,075,640 |
Gain on extinguishment of d ebt |  |  |  |  |  |  | 57,966 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 57,966 |
Income from unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  | 521 |  |  |  | 1,803 |  |  |  |  |  |  |  | 2,324 |
(L(Loss) income before income taxes |  |  | (5,910 | ) |  |  | 22,402 |  |  |  | (64,846 | ) |  |  | 19,694 |  |  |  | 11,619 |  |  |  | (17,041 | )
State and federal income tax benefit |  |  | 12,929 |  |  |  |  |  |  |  | 22,109 |  |  |  | 216 |  |  |  |  |  |  |  | 35,254 |
Equity in income (loss) of consolidated subsidiaries |  |  | 11,194 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (11,194 | ) |  |  | - |
Net income (loss) |  | $ | 18,213 |  |  | $ | 22,402 |  |  | $ | (42,737 | ) |  | $ | 19,910 |  |  | $ | 425 |  |  | $ | 18,213 |
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS NINE MONTHS ENDED JULY 31, 2011 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Units Guarantor Subsidiaries |  |  | Units Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $ | 24 |  |  | $ | (223 | ) |  | $ | 773,299 |  |  | $ | 3,652 |  |  | $ | (3,719 | ) |  | $ | 773,033 |
Financial services |  |  |  |  |  |  |  |  |  |  | 3,951 |  |  |  | 16,298 |  |  |  |  |  |  |  | 20,249 |
Intercompany charges |  |  |  |  |  |  | 85,294 |  |  |  | (98,026 | ) |  |  | (468 | ) |  |  | 13,200 |  |  |  | - |
Total revenues |  | $ | 24 |  |  | $ | 85,071 |  |  | $ | 679,224 |  |  | $ | 19,482 |  |  | $ | 9,481 |  |  | $ | 793,282 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | 4,261 |  |  |  | 119,657 |  |  |  | 838,169 |  |  |  | 459 |  |  |  | (1,152 | ) |  |  | 961,394 |
Financial services |  |  | 246 |  |  |  |  |  |  |  | 3,717 |  |  |  | 12,234 |  |  |  | (3 | ) |  |  | 16,194 |
Total expenses |  |  | 4,507 |  |  |  | 119,657 |  |  |  | 841,886 |  |  |  | 12,693 |  |  |  | (1,155 | ) |  |  | 977,588 |
Loss on extinguishment of debt |  |  |  |  |  |  | (3,035 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,035 | )
Loss from unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  | (801 | ) |  |  | (5,678 | ) |  |  |  |  |  |  | (6,479 | )
(Loss) income before income taxes |  |  | (4,483 | ) |  |  | (37,621 | ) |  |  | (163,463 | ) |  |  | 1,111 |  |  |  | 10,636 |  |  |  | (193,820 | )
State and federal income tax (benefit) provision |  |  | (15,599 | ) |  |  |  |  |  |  | 9,518 |  |  |  |  |  |  |  |  |  |  |  | (6,081 | )
Equity in (loss) income of consolidated subsidiaries |  |  | (198,855 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 198,855 |  |  |  | - |
Net (loss) income |  | $ | (187,739 | ) |  | $ | (37,621 | ) |  | $ | (172,981 | ) |  | $ | 1,111 |  |  | $ | 209,491 |  |  | $ | (187,739 | )
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS NINE MONTHS ENDED JULY 31, 2012 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Units Guarantor Subsidiaries |  |  | Units Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 18,213 |  |  | $ | 22,402 |  |  | $ | (42,737 | ) |  | $ | 19,910 |  |  | $ | 425 |  |  | $ | 18,213 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities |  |  | 31,198 |  |  |  | (28,260 | ) |  |  | (680 | ) |  |  | (82,121 | ) |  |  | (425 | ) |  |  | (80,288 | )
Net cash provided by (used in) operating activities |  |  | 49,411 |  |  |  | (5,858 | ) |  |  | (43,417 | ) |  |  | (62,211 | ) |  |  | - |  |  |  | (62,075 | )
Net cash provided by (used in) investing activities |  |  |  |  |  |  | 26 |  |  |  | 735 |  |  |  | (2,671 | ) |  |  |  |  |  |  | (1,910 | )
Net cash provided by (used in) financing activities |  |  | 47,147 |  |  |  | (94,309 | ) |  |  | 50,954 |  |  |  | 43,423 |  |  |  |  |  |  |  | 47,215 |
Intercompany investing and financing activities – net |  |  | (96,558 | ) |  |  | 112,651 |  |  |  | (2,868 | ) |  |  | (13,225 | ) |  |  |  |  |  |  | - |
Net increase (decrease) in cash |  |  | - |  |  |  | 12,510 |  |  |  | 5,404 |  |  |  | (34,684 | ) |  |  | - |  |  |  | (16,770 | )
Cash and cash equivalents balance, beginning of period |  |  | - |  |  |  | 112,122 |  |  |  | (4,989 | ) |  |  | 143,607 |  |  |  | - |  |  |  | 250,740 |
Cash and cash equivalents balance, end of period |  | $ | - |  |  | $ | 124,632 |  |  | $ | 415 |  |  | $ | 108,923 |  |  | $ | - |  |  | $ | 233,970 |
HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS NINE MONTHS ENDED JULY 31, 2011 (In Thousands)
|  | Parent |  |  | Subsidiary Issuer |  |  | Units Guarantor Subsidiaries |  |  | Units Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (187,739 | ) |  | $ | (37,621 | ) |  | $ | (172,981 | ) |  | $ | 1,111 |  |  | $ | 209,491 |  |  | $ | (187,739 | )
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities |  |  | 85,787 |  |  |  | (15,216 | ) |  |  | 152,122 |  |  |  | (4,704 | ) |  |  | (209,491 | ) |  |  | 8,498 |
Net cash (used in) provided by operating activities |  |  | (101,952 | ) |  |  | (52,837 | ) |  |  | (20,859 | ) |  |  | (3,593 | ) |  |  | - |  |  |  | (179,241 | )
Net cash provided by (used in) investing activities |  |  |  |  |  |  |  |  |  |  | 577 |  |  |  | (659 | ) |  |  |  |  |  |  | (82 | )
Net cash provided by (used in) financing activities |  |  | 54,899 |  |  |  | 71,552 |  |  |  | 61 |  |  |  | (31,984 | ) |  |  |  |  |  |  | 94,528 |
Intercompany investing and financing activities – net |  |  | 47,043 |  |  |  | (82,916 | ) |  |  | 27,388 |  |  |  | 8,485 |  |  |  |  |  |  |  | - |
Net (decrease) increase in cash |  |  | (10 | ) |  |  | (64,201 | ) |  |  | 7,167 |  |  |  | (27,751 | ) |  |  | - |  |  |  | (84,795 | )
Cash and cash equivalents balance, beginning of period |  |  | 10 |  |  |  | 212,370 |  |  |  | (12,812 | ) |  |  | 167,612 |  |  |  | - |  |  |  | 367,180 |
Cash and cash equivalents balance, end of period |  | $ | - |  |  | $ | 148,169 |  |  | $ | (5,645 | ) |  | $ | 139,861 |  |  | $ | - |  |  | $ | 282,385 |

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- Definition Text block that encapsulates the detailed table comprising the condensed financial statements (balance sheet, income statement and statement of cash flows), normally using the registrant (parent) as the sole domain member. If condensed consolidating financial statements are being presented, other domain members (in addition to parent) such as guarantor subsidiaries, non-guarantor subsidiaries, and the consolidation eliminations, will be included in order that the respective monetary amounts for each of the domains will aggregate to the respective amounts on the consolidated financial statements. The line items are the various captions used to compile the condensed financial statements. Using extensions, most, if not all, of the elements representing condensed financial statement captions will be the same as those used for the consolidated financial statements captions. + References No definition available. + Details
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Namespace Prefix: | hov_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration