XML 45 R43.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 21 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)
12 Months Ended
Oct. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments [Table Text Block]
   

October 31, 2013

 

(Dollars In Thousands)

 

Homebuilding

   

Land

Development

   

Total

 

Assets:

                       

Cash and cash equivalents

    $30,102       $639       $30,741  

Inventories

    101,735       11,080       112,815  

Other assets

    6,868       -       6,868  

Total assets

    $138,705       $11,719       $150,424  

Liabilities and equity:

                       

Accounts payable and accrued liabilities

    $28,016       $4,047       $32,063  

Notes payable

    23,904       -       23,904  

Total liabilities

    51,920       4,047       55,967  

Equity of:

                       

Hovnanian Enterprises, Inc.

    44,141       2,703       46,844  

Others

    42,644       4,969       47,613  

Total equity

    86,785       7,672       94,457  

Total liabilities and equity

    $138,705       $11,719       $150,424  

Debt to capitalization ratio

    22

%

    0

%

    20

%

   

October 31, 2012

 

(Dollars In Thousands)

 

Homebuilding

   

Land

Development

   

Total

 

Assets:

                       

Cash and cash equivalents

    $29,657       $1,686       $31,343  

Inventories

    177,170       14,853       192,023  

Other assets

    12,886       5       12,891  

Total assets

    $219,713       $16,544       $236,257  

Liabilities and equity:

                       

Accounts payable and accrued liabilities

    $24,651       $12,233       $36,884  

Notes payable

    79,675       -       79,675  

Total liabilities

    104,326       12,233       116,559  

Equity of:

                       

Hovnanian Enterprises, Inc.

    45,285       794       46,079  

Others

    70,102       3,517       73,619  

Total equity

    115,387       4,311       119,698  

Total liabilities and equity

    $219,713       $16,544       $236,257  

Debt to capitalization ratio

    41

%

    0

%

    40

%

   

For The Twelve Months Ended

 October 31, 2013

 

(Dollars In Thousands)

 

Homebuilding

   

Land

Development

   

Total

 

Revenues

    $307,993       $14,659       $322,652  

Cost of sales and expenses

    (276,795 )     (9,396

)

    (286,191 )

Joint venture net income

    $31,198       $5,263       $36,461  

Our share of net income

    $9,581       $2,631       $12,212  
   

For The Twelve Months Ended

October 31, 2012

 

(Dollars In Thousands)

 

Homebuilding

   

Land

Development

   

Total

 

Revenues

    $323,177       $11,531       $334,708  

Cost of sales and expenses

    (300,892

)

    (9,318

)

    (310,210

)

Joint venture net income

    $22,285       $2,213       $24,498  

Our share of net income

    $4,763       $1,108       $5,871  
   

For The Twelve Months Ended

October 31, 2011

 

(Dollars In Thousands)

 

Homebuilding

   

Land

Development

   

Total

 

Revenues

    $177,301       $12,226       $189,527  

Cost of sales and expenses

    (181,651

)

    (11,114

)

    (192,765

)

Joint venture net (loss) income

    $(4,350

)

    $1,112       $(3,238

)

Our share of net (loss) income

    $(8,395

)

    $647       $(7,748

)