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Note 3 - Interest - Interest Costs Incurred, Expensed and Capitalized (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Apr. 30, 2021 | Apr. 30, 2020 | Apr. 30, 2021 | Apr. 30, 2020
Interest capitalized at beginning of period |  | $ 65,327 | $ 67,879 | $ 65,010 | $ 71,264
Plus interest incurred(1) | [1] | 41,870 | 45,323 | 83,327 | 89,657
Less cost of sales interest expensed |  | 21,725 | 18,589 | 38,890 | 36,725
Less other interest expensed(2)(3) | [2],[3] | 22,033 | 26,869 | 46,008 | 51,872
Less interest contributed to unconsolidated joint venture(4) | [4] | 3,667 | 0 | 3,667 | 4,580
Interest capitalized at end of period(5) | [5] | $ 59,772 | $ 67,744 | $ 59,772 | $ 67,744
[1] | Data does not include interest incurred by our mortgage and finance subsidiaries.
[2] | Cash paid for interest, net of capitalized interest, is the sum of other interest expensed, as defined above, and interest paid by our mortgage and finance subsidiaries adjusted for the change in accrued interest on notes payable, which is calculated as follows:
[3] | Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) do not exceed our debt, which amounted to $17.5 million and $13.8 million for the three months ended April 30, 2021 and 2020, respectively, and $33.7 million and $28.7 million for the six months ended April 30, 2021 and 2020, respectively. Other interest also includes interest on completed homes, land in planning and fully developed lots without homes under construction, which does not qualify for capitalization and therefore is expensed. This component of other interest was $4.5 million and $13.1 million for the three months ended April 30, 2021 and 2020, respectively, and $12.3 million and $23.2 million for the six months ended April 30, 2021 and 2020, respectively.
[4] | Represents capitalized interest which was included as part of the assets contributed to joint ventures, as discussed in Note 18. There was no impact to the Condensed Consolidated Statement of Operations as a result of these transactions.
[5] | Capitalized interest amounts are shown gross before allocating any portion of impairments, if any, to capitalized interest.

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- Definition The amount of interest contributed to unconsolidated joint ventures during period. + References No definition available. + Details
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- Definition Interest cost which does not qualify for interest capitalization. + References No definition available. + Details
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- Definition Carrying amount as of the balance sheet date of interest costs that were capitalized to properties under development during the land development and construction period of a project, and which are included in inventory. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 + Details
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- Definition Amount of interest cost charged to cost of sales that had been previously capitalized to inventory. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 + Details
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- Definition The amount of interest capitalized to an operative builder's inventory during the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 + Details
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