Note 4 - Leases |
12 Months Ended | ||||||||||||||||||||||||||||||||
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Oct. 31, 2016 | |||||||||||||||||||||||||||||||||
Notes to Financial Statements | |||||||||||||||||||||||||||||||||
Leases of Lessee Disclosure [Text Block] | 4. LeasesWe lease certain property under non cancelable leases. Office leases are generally for terms of three to five years and generally provide renewal options. Model home leases are generally for shorter terms of approximately one to three years with renewal options on a month to month basis. In most cases, we expect that in the normal course of business, leases that will expire will be renewed or replaced by other leases. The future lease payments required under operating leases that have initial or remaining non cancelable terms in excess of one year are as follows:
Net rental expense for the three years ended October 31, 2016, 2015 and 2014, was $12.8 million, $11.6 million and $11.6 million, respectively. These amounts include rent expense for various month to month leases on model homes, furniture and equipment. These amounts also include the amortization of abandoned lease costs for leased space that we have abandoned due to our reduction in size and consolidation of certain locations. Certain leases contain renewal or purchase options and generally provide that the Company shall pay for insurance, taxes and maintenance. |