XML 52 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Supplemental Disclosure of Noncash Investing and Financing Activities
6 Months Ended
Apr. 30, 2020
Notes to Financial Statements  
Cash Flow, Supplemental Disclosures [Text Block]
Supplemental disclosure of noncash investing and financing activities:
 
In accordance with the adoption of ASU
2016
-
02,
in the
first
quarter of fiscal
2020,
we recorded a beginning right-of-use asset of
$23.3
 million and a right-of-use lease liability of
$24.4
million. 
 
In the
first
quarter of fiscal
2020,
K. Hovnanian, the issuer of our notes, completed a debt for debt exchange whereby it issued
$158.5
million aggregate principal amount of
10.0%
1.75
Lien Notes due
2025
in exchange for
$23.2
million in aggregate principal amount of its outstanding
10.0%
Senior Secured Notes due
2022
and
$141.7
million in aggregate principal amount of its outstanding
10.5%
Senior Secured Notes due
2024.
K. Hovnanian also exchanged
$163.0
million in aggregate principal amount of its unsecured term loans for
$81.5
million in aggregate principal amount of
1.75
Lien secured term loans made under a new Senior Secured
1.75
Lien Term Loan Credit Facility due
January 31, 2028.
 
In the
second
quarter of fiscal
2020,
K. Hovnanian, the issuer of the notes, completed a debt for debt exchange whereby it issued
$59.1
million aggregate principal amount of
11.25%
1.5
Lien Notes due
2026
in exchange for
$59.1
million aggregate principal amount of
10.0%
Senior Secured Notes due
2022
Notes.
 
See Note
12
 for further information.