XML 60 R46.htm IDEA: XBRL DOCUMENT
v3.23.2

Note 3 - Interest - Interest Costs Incurred, Expensed and Capitalized (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022
Interest capitalized at beginning of period |  | $ 60,274 | $ 63,573 | $ 59,600 | $ 58,159
Plus interest incurred(1) | [1] | 34,214 | 32,644 | 103,662 | 99,299
Less cost of sales interest expensed |  | (19,272) | (22,453) | (55,719) | (57,876)
Less other interest expensed(2)(3) | [2],[3] | (13,502) | (9,624) | (43,096) | (35,442)
Less interest contributed to unconsolidated joint venture(4) | [4] | (6,440) | 0 | (9,456) | 0
Plus interest acquired from unconsolidated joint venture(5) | [5] | 0 | 0 | 283 | 0
Interest capitalized at end of period(6) | [6] | $ 55,274 | $ 64,140 | $ 55,274 | $ 64,140
[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.
[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] | Represents capitalized interest which was included as part of the assets purchased from joint ventures, as discussed in Note 18. There was no impact to the Condensed Consolidated Statement of Operations as a result of these transactions.
[6] | Capitalized interest amounts are shown gross before allocating a portion of impairments, if any, to capitalized interest.

X
- Definition The amount of interest acquired from unconsolidated joint ventures during period. + References No definition available. + Details
Name: | hov_RealEstateInventoryCapitalizedInterestCostsInterestAcquiredFromJointVenture
Namespace Prefix: | hov_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The amount of interest contributed to unconsolidated joint ventures during period. + References No definition available. + Details
Name: | hov_RealEstateInventoryCapitalizedInterestCostsInterestContributedToJointVenture
Namespace Prefix: | hov_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Interest cost which does not qualify for interest capitalization. + References No definition available. + Details
Name: | hov_RealEstateInventoryExpenseNotEligibleForCapitalization
Namespace Prefix: | hov_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483013/835-20-50-1 + Details
Name: | us-gaap_RealEstateInventoryCapitalizedInterestCosts
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- 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 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 835 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483013/835-20-50-1 + Details
Name: | us-gaap_RealEstateInventoryCapitalizedInterestCostsCostOfSales1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483013/835-20-50-1 + Details
Name: | us-gaap_RealEstateInventoryCapitalizedInterestCostsIncurred
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration