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Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables) | 9 Months Ended
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Jul. 31, 2024
Investments in Unconsolidated Homebuilding and Land Development Joint Ventures |
Equity Method Investments [Table Text Block] |
|  | July 31, 2024 |
|  |  |  |  |  | Land |  |  |  |  |
(In thousands) |  | Homebuilding |  |  | Development |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 129,396 |  |  | $ | 331 |  |  | $ | 129,727 |
Inventories |  |  | 410,777 |  |  |  | - |  |  |  | 410,777 |
Other assets |  |  | 350,532 |  |  |  | - |  |  |  | 350,532 |
Total assets |  | $ | 890,705 |  |  | $ | 331 |  |  | $ | 891,036 |
Liabilities and equity: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 514,266 |  |  | $ | 31 |  |  | $ | 514,297 |
Notes payable |  |  | 94,478 |  |  |  | - |  |  |  | 94,478 |
Total liabilities |  |  | 608,744 |  |  |  | 31 |  |  |  | 608,775 |
Equity of: |  |  |  |  |  |  |  |  |  |  |  |
Hovnanian Enterprises, Inc. |  |  | 124,213 |  |  |  | 1 |  |  |  | 124,214 |
Others |  |  | 157,748 |  |  |  | 299 |  |  |  | 158,047 |
Total equity |  |  | 281,961 |  |  |  | 300 |  |  |  | 282,261 |
Total liabilities and equity |  | $ | 890,705 |  |  | $ | 331 |  |  | $ | 891,036 |
Debt to capitalization ratio |  |  | 25 | % |  |  | 0 | % |  |  | 25 | %
|  | October 31, 2023 |
|  |  |  |  |  | Land |  |  |  |  |
(In thousands) |  | Homebuilding |  |  | Development |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 127,547 |  |  | $ | 822 |  |  | $ | 128,369 |
Inventories |  |  | 375,022 |  |  |  | - |  |  |  | 375,022 |
Other assets |  |  | 380,989 |  |  |  | - |  |  |  | 380,989 |
Total assets |  | $ | 883,558 |  |  | $ | 822 |  |  | $ | 884,380 |
Liabilities and equity: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 524,586 |  |  | $ | 605 |  |  | $ | 525,191 |
Notes payable |  |  | 101,126 |  |  |  | - |  |  |  | 101,126 |
Total liabilities |  |  | 625,712 |  |  |  | 605 |  |  |  | 626,317 |
Equity of: |  |  |  |  |  |  |  |  |  |  |  |
Hovnanian Enterprises, Inc. |  |  | 96,281 |  |  |  | 210 |  |  |  | 96,491 |
Others |  |  | 161,565 |  |  |  | 7 |  |  |  | 161,572 |
Total equity |  |  | 257,846 |  |  |  | 217 |  |  |  | 258,063 |
Total liabilities and equity |  | $ | 883,558 |  |  | $ | 822 |  |  | $ | 884,380 |
Debt to capitalization ratio |  |  | 28 | % |  |  | 0 | % |  |  | 28 | %
|  | Three Months Ended July 31, 2024 |
|  |  |  |  |  | Land |  |  |  |  |
(In thousands) |  | Homebuilding |  |  | Development |  |  | Total |
Revenues |  | $ | 155,930 |  |  | $ | - |  |  | $ | 155,930 |
Cost of sales and expenses |  |  | (134,612 | ) |  |  | 414 |  |  |  | (134,198 | )
Joint venture net income |  | $ | 21,318 |  |  | $ | 414 |  |  | $ | 21,732 |
Our share of net income |  | $ | 10,698 |  |  | $ | - |  |  | $ | 10,698 |
|  | Three Months Ended July 31, 2023 |
|  |  |  |  |  | Land |  |  |  |  |
(In thousands) |  | Homebuilding |  |  | Development |  |  | Total |
Revenues |  | $ | 122,579 |  |  | $ | - |  |  | $ | 122,579 |
Cost of sales and expenses |  |  | (106,873 | ) |  |  | (1 | ) |  |  | (106,874 | )
Joint venture net income (loss) |  | $ | 15,706 |  |  | $ | (1 | ) |  | $ | 15,705 |
Our share of net income (loss) |  | $ | 8,401 |  |  | $ | - |  |  | $ | 8,401 |
|  | Nine Months Ended July 31, 2024 |
|  |  |  |  |  | Land |  |  |  |  |
(In thousands) |  | Homebuilding |  |  | Development |  |  | Total |
Revenues |  | $ | 406,399 |  |  | $ | - |  |  | $ | 406,399 |
Cost of sales and expenses |  |  | (354,388 | ) |  |  | 414 |  |  |  | (353,974 | )
Joint venture net income |  | $ | 52,011 |  |  | $ | 414 |  |  | $ | 52,425 |
Our share of net income |  | $ | 36,814 |  |  | $ | - |  |  | $ | 36,814 |
|  | Nine Months Ended July 31, 2023 |
|  |  |  |  |  | Land |  |  |  |  |
(In thousands) |  | Homebuilding |  |  | Development |  |  | Total |
Revenues |  | $ | 283,710 |  |  | $ | - |  |  | $ | 283,710 |
Cost of sales and expenses |  |  | (260,110 | ) |  |  | (4 | ) |  |  | (260,114 | )
Joint venture net income (loss) |  | $ | 23,600 |  |  | $ | (4 | ) |  | $ | 23,596 |
Our share of net income (loss) |  | $ | 20,969 |  |  | $ | - |  |  | $ | 20,969 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 + Details
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