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Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)

6 Months Ended

Apr. 30, 2015

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments [Table Text Block]

(Dollars in thousands)		April 30, 2015
		Homebuilding			Land Development			Total
Assets:
Cash and cash equivalents		$17,682			$122			$17,804
Inventories		306,132			14,550			320,682
Other assets		9,132			-			9,132
Total assets		$332,946			$14,672			$347,618

Liabilities and equity:
Accounts payable and accrued liabilities		$23,428			$584			$24,012
Notes payable		91,397			4,915			96,312
Total liabilities		114,825			5,499			120,324
Equity of:
Hovnanian Enterprises, Inc.		66,691			3,014			69,705
Others		151,430			6,159			157,589
Total equity		218,121			9,173			227,294
Total liabilities and equity		$332,946			$14,672			$347,618
Debt to capitalization ratio		30	%		35	%		30	%

(Dollars in thousands)		October 31, 2014
		Homebuilding			Land Development			Total
Assets:
Cash and cash equivalents		$22,415			$205			$22,620
Inventories		208,620			16,194			224,814
Other assets		11,986			-			11,986
Total assets		$243,021			$16,399			$259,420

Liabilities and equity:
Accounts payable and accrued liabilities		$27,175			$1,039			$28,214
Notes payable		45,506			5,650			51,156
Total liabilities		72,681			6,689			79,370
Equity of:
Hovnanian Enterprises, Inc.		59,106			2,990			62,096
Others		111,234			6,720			117,954
Total equity		170,340			9,710			180,050
Total liabilities and equity		$243,021			$16,399			$259,420
Debt to capitalization ratio		21	%		37	%		22	%

		For the Three Months Ended April 30, 2015
(In thousands)		Homebuilding				Land Development				Total

Revenues		$	27,648			$	1,483			$	29,131
Cost of sales and expenses			(29,258	)			(1,722	)			(30,980	)
Joint venture net loss		$	(1,610	)		$	(239	)		$	(1,849	)
Our share of net income (loss)		$	1,465			$	(119	)		$	1,346

		For the Three Months Ended April 30, 2014
(In thousands)		Homebuilding				Land Development				Total

Revenues		$	33,746			$	3,355			$	37,101
Cost of sales and expenses			(31,644	)			(3,466	)			(35,110	)
Joint venture net income (loss)		$	2,102			$	(111	)		$	1,991
Our share of net income (loss)		$	1,030			$	(55	)		$	975

		For the Six Months Ended April 30, 2015
(In thousands)		Homebuilding				Land Development				Total

Revenues		$	64,774			$	2,615			$	67,389
Cost of sales and expenses			(59,117	)			(2,807	)			(61,924	)
Joint venture net income (loss)		$	5,657			$	(192	)		$	5,465
Our share of net income (loss)		$	2,932			$	(96	)		$	2,836

		For the Six Months Ended April 30, 2014
(In thousands)		Homebuilding				Land Development				Total

Revenues		$	85,019			$	5,269			$	90,288
Cost of sales and expenses			(77,725	)			(5,085	)			(82,810	)
Joint venture net income		$	7,294			$	184			$	7,478
Our share of net income		$	3,577			$	92			$	3,669