Note 17 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)

3 Months Ended

Jan. 31, 2018

Notes Tables

Equity Method Investments [Table Text Block]

(Dollars in thousands)	January 31, 2018
	Homebuilding			Land Development			Total
Assets:
Cash and cash equivalents	$	36,994		$	823		$	37,817
Inventories		652,030			8,370			660,400
Other assets		34,438			-			34,438
Total assets	$	723,462		$	9,193		$	732,655
Liabilities and equity:
Accounts payable and accrued liabilities	$	106,971		$	298		$	107,269
Notes payable		364,886			-			364,886
Total liabilities		471,857			298			472,155
Equity of:
Hovnanian Enterprises, Inc.		78,613			3,805			82,418
Others		172,992			5,090			178,082
Total equity		251,605			8,895			260,500
Total liabilities and equity	$	723,462		$	9,193		$	732,655
Debt to capitalization ratio		59	%		0	%		58	%

(Dollars in thousands)	October 31, 2017
	Homebuilding			Land Development			Total
Assets:
Cash and cash equivalents	$	60,580		$	194		$	60,774
Inventories		666,017			9,162			675,179
Other assets		36,026			-			36,026
Total assets	$	762,623		$	9,356		$	771,979
Liabilities and equity:
Accounts payable and accrued liabilities	$	121,646		$	429		$	122,075
Notes payable		330,642			-			330,642
Total liabilities		452,288			429			452,717
Equity of:
Hovnanian Enterprises, Inc.		88,884			3,746			92,630
Others		221,451			5,181			226,632
Total equity		310,335			8,927			319,262
Total liabilities and equity	$	762,623		$	9,356		$	771,979
Debt to capitalization ratio		52	%		0	%		51	%

	For the Three Months Ended January 31, 2018
(In thousands)	Homebuilding			Land Development			Total
Revenues	$	58,565		$	1,275		$	59,840
Cost of sales and expenses		(72,136	)		(1,158	)		(73,294	)
Joint venture net (loss) income	$	(13,571	)	$	117		$	(13,454	)
Our share of net (loss) income	$	(5,199	)	$	59		$	(5,140	)

	For the Three Months Ended January 31, 2017
(In thousands)	Homebuilding			Land Development			Total
Revenues	$	64,937		$	1,202		$	66,139
Cost of sales and expenses		(67,226	)		(982	)		(68,208	)
Joint venture net (loss) income	$	(2,289	)	$	220		$	(2,069	)
Our share of net (loss) income	$	(1,681	)	$	110		$	(1,571	)