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Note 3 - Interest - Cash Paid for Interest, Net of Capitalized Interest (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Jul. 31, 2024

Jul. 31, 2023

Jul. 31, 2024

Jul. 31, 2023

Interest

Less other interest expensed(2)

^[1]

$ (6,262)

$ (13,502)

$ (25,682)

$ (43,096)

[1]

Other interest expensed includes interest that does not qualify for interest capitalization because our assets that qualify for interest capitalization (inventory under development) did not exceed our debt, which amounted to $2.6 million and $14.5 million for the three and nine months ended July 31, 2023. During the three and nine months ended July 31, 2024, our inventory under development exceeded our debt, therefore, all of the related interest incurred qualified for interest capitalization. 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 $6.3 million and $10.9 million for the three months ended July 31, 2024 and 2023, respectively, and $25.7 million and $28.6 million for the nine months ended July 31, 2024 and 2023, respectively.