XML 30 R13.htm IDEA: XBRL DOCUMENT v3.20.4
Note 6 - Restricted Cash and Deposits
12 Months Ended
Oct. 31, 2020
Notes to Financial Statements  
Cash and Cash Equivalents Disclosure [Text Block]

6. Restricted Cash and Deposits

 

Homebuilding - Restricted cash and cash equivalents on the Consolidated Balance Sheets totaled $14.7 million and $20.9 million as of October 31, 2020 and 2019, respectively, which primarily consists of cash collateralizing our letter of credit agreements and facilities as discussed in Note 9.

 

Financial services restricted cash and cash equivalents, which are included in Financial services other assets on the Consolidated Balance Sheets, totaled $27.4 million and $24.8 million as of October 31, 2020 and 2019, respectively. Included in these balances were (1) financial services customers’ deposits of $25.4 million at October 31, 2020 and $22.8 million as of October 31, 2019, which are subject to restrictions on our use, and (2) $2.0 million at both October 31, 2020 and 2019 of restricted cash under the terms of our mortgage warehouse lines of credit.

 

Total Homebuilding Customers’ deposits are shown as a liability on the Consolidated Balance Sheets. These liabilities are significantly more than the applicable periods’ restricted cash balances because in some states the deposits are not restricted from use and, in other states, we are able to release the majority of these customer deposits to cash by pledging letters of credit and surety bonds.