0000000000-21-002280.txt : 20210602 0000000000-21-002280.hdr.sgml : 20210602 20210225113007 ACCESSION NUMBER: 0000000000-21-002280 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20210225 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: HOVNANIAN ENTERPRISES INC CENTRAL INDEX KEY: 0000357294 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 221851059 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 90 MATAWAN ROAD, 5TH FLOOR CITY: MATAWAN STATE: NJ ZIP: 07747 BUSINESS PHONE: 7327477800 MAIL ADDRESS: STREET 1: 90 MATAWAN ROAD, 5TH FLOOR CITY: MATAWAN STATE: NJ ZIP: 07747 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4*)>+CS],*,2 P(&]B:@H\/"]4>7!E+UA/8FIE8W0O0V]L;W)3 M<&%C92]$979I8V5',Z%$;3 BU,"VEA6J % M6J %6J %6J %6J %6O ]*WOEK(,D*\X#9H:[]P]6<&19EAU+^GP>RR(B(B(B M(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B+_-A\?'^_O[V]O;Z^OKR\' MGI^?GP[$AY="%(AB43AV^=.M%A$1$1$1$9$?2,H4S\_/CX^/]_?WOP[<'=E- MR6+L]?OW[ZCAZ>GI]?5504-$1$1$1$1$+N;M[>WIZ>GAX6&_WS<"Q:]?O^[O M[^.KQW.(\K]__VZJBLJ1,EY>7M0Q1$1$1$1$1&3"Q\<'QA6_?__&K *98K_? 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end TEXT-EXTRACT 2 filename2.txt United States securities and exchange commission logo February 25, 2021 Larry Sorsby Chief Financial Officer Hovnanian Enterprises Inc. 90 Matawan Rd, Fifth Floor Matawan, NJ 07747 Re: Hovnanian Enterprises Inc. Form 10-K for the year ended October 31, 2020 Filed December 22, 2020 File No. 001-08551 Dear Mr. Sorsby: We have limited our review of your filing to the financial statements and related disclosures and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Form 10-K for the year ended October 31, 2020 Note 3. Summary of Significant Accounting Policies, page 64 1. We note your disclosure in your Form 10-K for the year ended October 31, 2019 that the adoption of ASC 606 did not result in any significant changes to your business processes, systems, or internal controls, or have a material impact on your Consolidated Financial Statements. Notwithstanding this, please tell us how you have met the disclosure requirements set forth in ASC 606-10-50, including but not limited to, disclosures related to performance obligations and significant judgments. Note 9. Senior Notes and Credit Facilities, page 73 2. We note your disclosure that your secured notes and term loan exchanges were accounted for in accordance with ASC 470-60 resulting in a net gain of extinguishment of debt of $9.2 million. Please explain in further detail why these transactions were accounted for as a troubled debt restructuring rather than a modification or extinguishment pursuant to Larry Sorsby Hovnanian Enterprises Inc. February 25, 2021 Page 2 ASC 470-50 and how the $9.2 million gain on extinguishment was calculated. Note 20. Investments in Unconsolidated Homebuilding and Land Development Joint Ventures, page 94 3. Please clarify why your share of net income in your unconsolidated joint ventures represents between 88-106% of the entities' net income for the years presented. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Ameen Hamady at 202-551-3891 or Kristi Marrone at 202-551-3429 with any questions. FirstName LastNameLarry Sorsby Sincerely, Comapany NameHovnanian Enterprises Inc. Division of Corporation Finance February 25, 2021 Page 2 Office of Real Estate & Construction FirstName LastName