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Note 3 - Summary of Significant Accounting Policies - Interest Costs Incurred, Expensed and Capitalized (Details) - USD ($)
$ in Thousands
 12 Months Ended
Oct. 31, 2023
Oct. 31, 2022
Oct. 31, 2021
Interest capitalized at beginning of year $ 59,600 $ 58,159 $ 65,010
Plus interest incurred(1) [1] 136,535 134,024 155,514
Less cost of sales interest expensed (80,820) (85,240) (84,100)
Less other interest expensed(2) [2],[3] (54,082) (47,343) (77,716)
Less interest contributed to unconsolidated joint ventures(3) (9,456) 0 (3,667)
Plus interest acquired from unconsolidated joint ventures(4) 283 0 3,118
Interest capitalized at end of year(5) $ 52,060 $ 59,600 $ 58,159
[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 $2.6 million and $5.0 million for the three months ended July 31, 2023 and 2022, respectively, and $14.5 million and $25.5 million for the nine months ended July 31, 2023 and 2022, 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 as incurred. This component of other interest was $10.9 million and $4.6 million for the three months ended July 31, 2023 and 2022, respectively, and $28.6 million and $9.9 million for the nine months ended July 31, 2023 and 2022, respectively.