XML 47 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)
Jan. 31, 2015
Oct. 31, 2014
ASSETS    
Cash $ 273,299,000us-gaap_CashAndCashEquivalentsAtCarryingValue $ 261,898,000us-gaap_CashAndCashEquivalentsAtCarryingValue
Restricted cash and cash equivalents 24,500,000us-gaap_RestrictedCashAndCashEquivalents 29,300,000us-gaap_RestrictedCashAndCashEquivalents
Consolidated inventory not owned:    
Total assets 2,461,435,000us-gaap_Assets 2,289,930,000us-gaap_Assets [1]
Income taxes receivable – including net deferred tax benefits 290,213,000us-gaap_DeferredTaxAssetsNet 284,543,000us-gaap_DeferredTaxAssetsNet [1]
LIABILITIES AND EQUITY    
Total liabilities 2,591,419,000us-gaap_Liabilities 2,407,729,000us-gaap_Liabilities [1]
Notes payable:    
Accrued interest 31,212,000us-gaap_InterestPayableCurrentAndNoncurrent 32,222,000us-gaap_InterestPayableCurrentAndNoncurrent [1]
Total notes payable 1,938,141,000hov_NotesPayableAndAccruedInterest 1,689,779,000hov_NotesPayableAndAccruedInterest [1]
Stockholders’ equity deficit:    
Preferred stock, $0.01 par value - authorized 100,000 shares; issued and outstanding 5,600 shares with a liquidation preference of $140,000 at January 31, 2015 and at October 31, 2014 135,299,000us-gaap_PreferredStockValue 135,299,000us-gaap_PreferredStockValue [1]
Paid in capital – common stock 700,128,000us-gaap_AdditionalPaidInCapitalCommonStock 697,943,000us-gaap_AdditionalPaidInCapitalCommonStock [1]
Accumulated deficit (851,640,000)us-gaap_RetainedEarningsAccumulatedDeficit (837,264,000)us-gaap_RetainedEarningsAccumulatedDeficit [1]
Treasury stock – at cost (115,360,000)us-gaap_TreasuryStockValue (115,360,000)us-gaap_TreasuryStockValue [1]
Total stockholders’ equity deficit (129,984,000)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest (117,799,000)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest [1]
Total liabilities and equity 2,461,435,000us-gaap_LiabilitiesAndStockholdersEquity 2,289,930,000us-gaap_LiabilitiesAndStockholdersEquity [1]
Common Class A [Member]    
Stockholders’ equity deficit:    
Common stock 1,432,000us-gaap_CommonStockValue
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonClassAMember
1,428,000us-gaap_CommonStockValue
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonClassAMember
[1]
Common Class B [Member]    
Stockholders’ equity deficit:    
Common stock 157,000us-gaap_CommonStockValue
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonClassBMember
155,000us-gaap_CommonStockValue
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonClassBMember
[1]
Homebuilding [Member] | Nonrecourse Mortgages [Member] | Mortgages [Member]    
LIABILITIES AND EQUITY    
Secured debt 100,638,000us-gaap_SecuredDebt
/ us-gaap_DebtInstrumentAxis
= hov_NonrecourseMortgagesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_MortgagesMember
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
103,908,000us-gaap_SecuredDebt
/ us-gaap_DebtInstrumentAxis
= hov_NonrecourseMortgagesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_MortgagesMember
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Homebuilding [Member] | Nonrecourse Mortgages Secured By Operating Properties [Member] | Mortgages [Member]    
LIABILITIES AND EQUITY    
Secured debt 16,350,000us-gaap_SecuredDebt
/ us-gaap_DebtInstrumentAxis
= hov_NonrecourseMortgagesSecuredByOperatingPropertiesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_MortgagesMember
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
16,619,000us-gaap_SecuredDebt
/ us-gaap_DebtInstrumentAxis
= hov_NonrecourseMortgagesSecuredByOperatingPropertiesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_MortgagesMember
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Homebuilding [Member]    
ASSETS    
Cash 269,282,000us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
255,117,000us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Restricted cash and cash equivalents 12,478,000us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
13,086,000us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Inventories:    
Sold and unsold homes and lots under development 1,076,374,000hov_InventoryRealEstateSoldAndUnsoldHomesAndLotsUnderDevelopment
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
961,994,000hov_InventoryRealEstateSoldAndUnsoldHomesAndLotsUnderDevelopment
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Land and land options held for future development or sale 315,504,000hov_InventoryRealEstateLandHeldForFutureDevelopmentAndSale
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
273,463,000hov_InventoryRealEstateLandHeldForFutureDevelopmentAndSale
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Consolidated inventory not owned:    
Specific performance options 2,724,000hov_InventoryRealEstateSpecificPerformanceOptions
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
3,479,000hov_InventoryRealEstateSpecificPerformanceOptions
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Other options 87,374,000hov_InventoryRealEstateOtherOptions
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
105,374,000hov_InventoryRealEstateOtherOptions
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Total consolidated inventory not owned 90,098,000hov_TotalConsolidatedInventoryNotOwned
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
108,853,000hov_TotalConsolidatedInventoryNotOwned
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Total inventories 1,481,976,000us-gaap_InventoryRealEstate
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
1,344,310,000us-gaap_InventoryRealEstate
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Investments in and advances to unconsolidated joint ventures 73,403,000us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
63,883,000us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Receivables, deposits and notes, net 96,538,000hov_AccountsAndNotesReceivableNetAndDeposits
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
92,546,000hov_AccountsAndNotesReceivableNetAndDeposits
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Property, plant and equipment, net 46,967,000us-gaap_PropertyPlantAndEquipmentNet
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
46,744,000us-gaap_PropertyPlantAndEquipmentNet
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Prepaid expenses and other assets 78,915,000us-gaap_PrepaidExpenseAndOtherAssets
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
69,358,000us-gaap_PrepaidExpenseAndOtherAssets
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Total assets 2,059,559,000us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
1,885,044,000us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
LIABILITIES AND EQUITY    
Liabilities from inventory not owned 78,668,000hov_LiabilitiesFromInventoryRealEstateNotOwned
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
92,381,000hov_LiabilitiesFromInventoryRealEstateNotOwned
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Total liabilities 566,617,000us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
618,753,000us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Accounts payable and other liabilities 337,060,000us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
370,876,000us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Customers’ deposits 33,901,000us-gaap_CustomerAdvancesAndDeposits
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
34,969,000us-gaap_CustomerAdvancesAndDeposits
/ us-gaap_StatementBusinessSegmentsAxis
= hov_HomebuildingMember
[1]
Financial Services [Member]    
ASSETS    
Cash 4,017,000us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
6,781,000us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
[1]
Restricted cash and cash equivalents 12,010,000us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
16,236,000us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
[1]
Mortgage loans held for sale at fair value 93,768,000us-gaap_LoansHeldForSaleMortgages
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
95,338,000us-gaap_LoansHeldForSaleMortgages
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
[1]
Other assets 1,868,000us-gaap_OtherAssets
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
1,988,000us-gaap_OtherAssets
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
[1]
Consolidated inventory not owned:    
Total assets 111,663,000us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
120,343,000us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
[1]
LIABILITIES AND EQUITY    
Total liabilities 86,661,000us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
99,197,000us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
[1]
Accounts payable and other liabilities 17,895,000us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
22,278,000us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
[1]
Mortgage warehouse lines of credit 68,766,000us-gaap_WarehouseAgreementBorrowings
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
76,919,000us-gaap_WarehouseAgreementBorrowings
/ us-gaap_StatementBusinessSegmentsAxis
= hov_FinancialServicesMember
[1]
Senior Secured Notes [Member]    
Notes payable:    
Senior notes 980,282,000us-gaap_SeniorNotes
/ us-gaap_LongtermDebtTypeAxis
= hov_SeniorSecuredNotesMember
979,935,000us-gaap_SeniorNotes
/ us-gaap_LongtermDebtTypeAxis
= hov_SeniorSecuredNotesMember
[1]
Unsecured Senior Notes Excluding Senior Amortizing Notes And Senior Exchangeable Notes [Member]    
Notes payable:    
Senior notes 840,657,000us-gaap_SeniorNotes
/ us-gaap_LongtermDebtTypeAxis
= hov_UnsecuredSeniorNotesExcludingSeniorAmortizingNotesAndSeniorExchangeableNotesMember
590,472,000us-gaap_SeniorNotes
/ us-gaap_LongtermDebtTypeAxis
= hov_UnsecuredSeniorNotesExcludingSeniorAmortizingNotesAndSeniorExchangeableNotesMember
[1]
Senior Amortizing Notes [Member]    
Notes payable:    
Senior notes 14,987,000us-gaap_SeniorNotes
/ us-gaap_LongtermDebtTypeAxis
= hov_SeniorAmortizingNotesMember
17,049,000us-gaap_SeniorNotes
/ us-gaap_LongtermDebtTypeAxis
= hov_SeniorAmortizingNotesMember
[1]
Senior Exchangeable Notes [Member]    
Notes payable:    
Senior notes $ 71,003,000us-gaap_SeniorNotes
/ us-gaap_LongtermDebtTypeAxis
= hov_SeniorExchangeableNotesMember
$ 70,101,000us-gaap_SeniorNotes
/ us-gaap_LongtermDebtTypeAxis
= hov_SeniorExchangeableNotesMember
[1]
[1] Derived from the audited balance sheet as of October 31, 2014.