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Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)
9 Months Ended
Jul. 31, 2020
Notes Tables  
Equity Method Investments [Table Text Block]

(Dollars in thousands)

 

July 31, 2020

 
      

Land

     
  

Homebuilding

  

Development

  

Total

 

Assets:

            

Cash and cash equivalents

 $103,972  $1,940  $105,912 

Inventories

  399,863   -   399,863 

Other assets

  25,728   461   26,189 

Total assets

 $529,563  $2,401  $531,964 
             

Liabilities and equity:

            

Accounts payable and accrued liabilities

 $156,753  $2,199  $158,952 

Notes payable

  91,692   -   91,692 

Total liabilities

  248,445   2,199   250,644 

Equity of:

            

Hovnanian Enterprises, Inc.

  122,501   660   123,161 

Others

  158,617   (458)  158,159 

Total equity

  281,118   202   281,320 

Total liabilities and equity

 $529,563  $2,401  $531,964 

Debt to capitalization ratio

  25%  0%  25%

(Dollars in thousands)

 

October 31, 2019

 
      

Land

     
  

Homebuilding

  

Development

  

Total

 

Assets:

            

Cash and cash equivalents

 $108,520  $2,203  $110,723 

Inventories

  397,804   6,038   403,842 

Other assets

  24,896   233   25,129 

Total assets

 $531,220  $8,474  $539,694 
             

Liabilities and equity:

            

Accounts payable and accrued liabilities

 $71,297  $592  $71,889 

Notes payable

  186,882   -   186,882 

Total liabilities

  258,179   592   258,771 

Equity of:

            

Hovnanian Enterprises, Inc.

  120,891   4,747   125,638 

Others

  152,150   3,135   155,285 

Total equity

  273,041   7,882   280,923 

Total liabilities and equity

 $531,220  $8,474  $539,694 

Debt to capitalization ratio

  41%  0%  40%
  

Three Months Ended July 31, 2020

 

(In thousands)

     

Land

     
  

Homebuilding

  

Development

  

Total

 
             

Revenues

 $132,511  $3,688  $136,199 

Cost of sales and expenses

  (127,653)  (2,719)  (130,372)

Joint venture net income

 $4,858  $969  $5,827 

Our share of net income (loss)

 $6,337  $(238) $6,099 
  

Three Months Ended July 31, 2019

 

(In thousands)

     

Land

     
  

Homebuilding

  

Development

  

Total

 
             

Revenues

 $121,156  $1,383  $122,539 

Cost of sales and expenses

  (112,749)  (846)  (113,595)

Joint venture net income

 $8,407  $537  $8,944 

Our share of net income

 $3,578  $268  $3,846 
  

Nine Months Ended July 31, 2020

 

(In thousands)

     

Land

     
  

Homebuilding

  

Development

  

Total

 
             

Revenues

 $332,287  $11,240  $343,527 

Cost of sales and expenses

  (323,657)  (11,120)  (334,777)

Joint venture net income

 $8,630  $120  $8,750 

Our share of net income (loss)

 $13,952  $(663) $13,289 
  

Nine Months Ended July 31, 2019

 

(In thousands)

     

Land

     
  

Homebuilding

  

Development

  

Total

 
             

Revenues

 $342,669  $4,979  $347,648 

Cost of sales and expenses

  (320,080)  (3,963)  (324,043)

Joint venture net income

 $22,589  $1,016  $23,605 

Our share of net income

 $20,202  $508  $20,710