XML 56 R37.htm IDEA: XBRL DOCUMENT

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

9 Months Ended

Jul. 31, 2021

Notes Tables

Equity Method Investments [Table Text Block]

(Dollars in thousands)		July 31, 2021
						Land
		Homebuilding				Development				Total
Assets:
Cash and cash equivalents		$	118,606			$	2,165			$	120,771
Inventories			442,657				-				442,657
Other assets			32,271				-				32,271
Total assets		$	593,534			$	2,165			$	595,699

Liabilities and equity:
Accounts payable and accrued liabilities		$	345,144			$	1,873			$	347,017
Notes payable			78,767				-				78,767
Total liabilities			423,911				1,873				425,784
Equity of:
Hovnanian Enterprises, Inc.			66,303				266				66,569
Others			103,320				26				103,346
Total equity			169,623				292				169,915
Total liabilities and equity		$	593,534			$	2,165			$	595,699
Debt to capitalization ratio			32	%			0	%			32	%

(Dollars in thousands)		October 31, 2020
						Land
		Homebuilding				Development				Total
Assets:
Cash and cash equivalents		$	120,107			$	3,454			$	123,561
Inventories			389,001				91				389,092
Other assets			27,062				488				27,550
Total assets		$	536,170			$	4,033			$	540,203

Liabilities and equity:
Accounts payable and accrued liabilities		$	207,277			$	2,152			$	209,429
Notes payable			117,179				-				117,179
Total liabilities			324,456				2,152				326,608
Equity of:
Hovnanian Enterprises, Inc.			102,908				1,340				104,248
Others			108,806				541				109,347
Total equity			211,714				1,881				213,595
Total liabilities and equity		$	536,170			$	4,033			$	540,203
Debt to capitalization ratio			36	%			0	%			35	%

		Three Months Ended July 31, 2021
(In thousands)						Land
		Homebuilding				Development				Total

Revenues		$	102,576			$	-			$	102,576
Cost of sales and expenses			(96,622	)			(31	)			(96,653	)
Joint venture net income (loss)		$	5,954			$	(31	)		$	5,923
Our share of net income		$	5,012			$	-			$	5,012

		Three Months Ended July 31, 2020
(In thousands)						Land
		Homebuilding				Development				Total

Revenues		$	132,511			$	3,688			$	136,199
Cost of sales and expenses			(127,653	)			(2,719	)			(130,372	)
Joint venture net income		$	4,858			$	969			$	5,827
Our share of net income (loss)		$	6,337			$	(238	)		$	6,099

		Nine Months Ended July 31, 2021
(In thousands)						Land
		Homebuilding				Development				Total

Revenues		$	265,566			$	691			$	266,257
Cost of sales and expenses			(255,591	)			(208	)			(255,799	)
Joint venture net income		$	9,975			$	483			$	10,458
Our share of net income		$	9,560			$	208			$	9,768

		Nine Months Ended July 31, 2020
(In thousands)						Land
		Homebuilding				Development				Total

Revenues		$	332,287			$	11,240			$	343,527
Cost of sales and expenses			(323,657	)			(11,120	)			(334,777	)
Joint venture net income		$	8,630			$	120			$	8,750
Our share of net income (loss)		$	13,952			$	(663	)		$	13,289