Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)

9 Months Ended

Jul. 31, 2016

Notes Tables

Equity Method Investments [Table Text Block]

(Dollars in thousands)	July 31, 2016
	Homebuilding		Land Development		Total
Assets:
Cash and cash equivalents	$39,129		$860		$39,989
Inventories	504,730		12,299		517,029
Other assets	24,832		-		24,832
Total assets	$568,691		$13,159		$581,850
Liabilities and equity:
Accounts payable and accrued liabilities	$50,686		$1,222		$51,908
Notes payable	209,868		2,864		212,732
Total liabilities	260,554		4,086		264,640
Equity of:
Hovnanian Enterprises, Inc.	80,747		3,309		84,056
Others	227,390		5,764		233,154
Total equity	308,137		9,073		317,210
Total liabilities and equity	$568,691		$13,159		$581,850
Debt to capitalization ratio	41	%	24	%	40	%

(Dollars in thousands)	October 31, 2015
	Homebuilding		Land Development		Total
Assets:
Cash and cash equivalents	$27,856		$1,755		$29,611
Inventories	314,814		11,767		326,581
Other assets	11,225		-		11,225
Total assets	$353,895		$13,522		$367,417
Liabilities and equity:
Accounts payable and accrued liabilities	$29,994		$669		$30,663
Notes payable	112,554		3,774		116,328
Total liabilities	142,548		4,443		146,991
Equity of:
Hovnanian Enterprises, Inc.	57,336		3,122		60,458
Others	154,011		5,957		159,968
Total equity	211,347		9,079		220,426
Total liabilities and equity	$353,895		$13,522		$367,417
Debt to capitalization ratio	35	%	29	%	35	%

	For the Three Months Ended July 31, 2016
(In thousands)	Homebuilding		Land Development		Total
Revenues	$31,145		$1,219		$32,364
Cost of sales and expenses	(37,245	)	(1,143	)	(38,388	)
Joint venture net (loss) income	$(6,100	)	$76		$(6,024	)
Our share of net (loss) income	$(2,418	)	$38		$(2,380	)

	For the Three Months Ended July 31, 2015
(In thousands)	Homebuilding		Land Development		Total
Revenues	$27,459		$1,394		$28,853
Cost of sales and expenses	(29,705	)	(1,296	)	(31,001	)
Joint venture net (loss) income	$(2,246	)	$98		$(2,148	)
Our share of net (loss) income	$(488	)	$49		$(439	)

	For the Nine Months Ended July, 2016
(In thousands)	Homebuilding		Land Development		Total
Revenues	$77,171		$2,836		$80,007
Cost of sales and expenses	(92,904	)	(2,462	)	(95,366	)
Joint venture net (loss) income	$(15,733	)	$374		$(15,359	)
Our share of net (loss) income	$(5,267	)	$187		$(5,080	)

	For the Nine Months Ended July 31, 2015
(In thousands)	Homebuilding		Land Development		Total
Revenues	$91,300		$4,009		$95,309
Cost of sales and expenses	(53,821	)	(4,103	)	(57,924	)
Joint venture net income (loss)	$37,479		$(94	)	$37,385
Our share of net income (loss)	$728		$(47	)	$681