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

6 Months Ended

Apr. 30, 2018

Notes Tables

Equity Method Investments [Table Text Block]

(Dollars in thousands)	April 30, 2018
	Homebuilding			Land Development			Total
Assets:
Cash and cash equivalents	$	31,166		$	2,414		$	33,580
Inventories		651,968			6,923			658,891
Other assets		29,695			-			29,695
Total assets	$	712,829		$	9,337		$	722,166
Liabilities and equity:
Accounts payable and accrued liabilities	$	96,770		$	504		$	97,274
Notes payable		371,382			-			371,382
Total liabilities		468,152			504			468,656
Equity of:
Hovnanian Enterprises, Inc.		79,690			3,914			83,604
Others		164,987			4,919			169,906
Total equity		244,677			8,833			253,510
Total liabilities and equity	$	712,829		$	9,337		$	722,166
Debt to capitalization ratio		60	%		0	%		59	%

(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 April 30, 2018
(In thousands)	Homebuilding			Land Development			Total
Revenues	$	96,931		$	2,343		$	99,274
Cost of sales and expenses		(102,230	)		(2,123	)		(104,353	)
Joint venture net (loss) income	$	(5,299	)	$	220		$	(5,079	)
Our share of net income	$	1,296		$	109		$	1,405

	For the Three Months Ended April 30, 2017
(In thousands)	Homebuilding			Land Development			Total
Revenues	$	86,556		$	1,658		$	88,214
Cost of sales and expenses		(87,957	)		(1,841	)		(89,798	)
Joint venture net loss	$	(1,401	)	$	(183	)	$	(1,584	)
Our share of net loss	$	(4,583	)	$	(92	)	$	(4,675	)

	For the Six Months Ended April 30, 2018
(In thousands)	Homebuilding			Land Development			Total
Revenues	$	155,496		$	3,618		$	159,114
Cost of sales and expenses		(174,366	)		(3,281	)		(177,647	)
Joint venture net (loss) income	$	(18,870	)	$	337		$	(18,533	)
Our share of net (loss) income	$	(3,903	)	$	168		$	(3,735	)

	For the Six Months Ended April 30, 2017
(In thousands)	Homebuilding			Land Development			Total
Revenues	$	151,493		$	2,860		$	154,353
Cost of sales and expenses		(155,183	)		(2,823	)		(158,006	)
Joint venture net (loss) income	$	(3,690	)	$	37		$	(3,653	)
Our share of net (loss) income	$	(6,264	)	$	18		$	(6,246	)