Investments in and Advances to Unconsolidated Entities (Tables)

3 Months Ended

Jan. 31, 2013

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Condensed balance sheet aggregated by type of business

Condensed Balance Sheets:

	January 31, 2013
	Develop- ment Joint Ventures		Home Building Joint Ventures		Trust and Trust II			Structured Asset Joint Venture		Total
Cash and cash equivalents	$	21,573	$	33,450	$	10,166		$	63,753	$	128,942
Inventory	263,743		310,002		5,676					579,421
Non-performing loan portfolio								185,142		185,142
Rental properties					170,406					170,406
Real estate owned (“REO”)					1,036			261,237		262,273
Other assets (1)	10,389		71,319		9,030			277,305		368,043
Total assets	$	295,705	$	414,771	$	196,314		$	787,437	$	1,694,227
Debt (1)	$	121,435	$	33,859	$	194,439		$	311,801	$	661,534
Other liabilities	14,174		8,225		5,348			501		28,248
Members’ equity (deficit)	160,096		372,687		(3,473		)	190,054		719,364
Noncontrolling interest								285,081		285,081
Total liabilities and equity	$	295,705	$	414,771	$	196,314		$	787,437	$	1,694,227
Company’s net investment in unconsolidated entities (2)	$	106,368	$	174,967	$	2,982		$	37,534	$	321,851

	October 31, 2012
	Develop- ment Joint Ventures		Home Building Joint Ventures		Trust and Trust II			Structured Asset Joint Venture		Total
Cash and cash equivalents	$	17,189	$	40,126	$	11,005		$	44,176	$	112,496
Inventory	255,561		294,724		5,643					555,928
Non-performing loan portfolio								226,315		226,315
Rental properties					173,767					173,767
Real estate owned (“REO”)								254,250		254,250
Other assets (1)	12,427		72,301		9,182			237,476		331,386
Total assets	$	285,177	$	407,151	$	199,597		$	762,217	$	1,654,142
Debt (1)	$	96,862	$	34,184	$	195,359		$	311,801	$	638,206
Other liabilities	13,890		5,707		5,202			561		25,360
Members’ equity (deficit)	174,425		367,260		(964		)	179,942		720,663
Noncontrolling interest								269,913		269,913
Total liabilities and equity	$	285,177	$	407,151	$	199,597		$	762,217	$	1,654,142
Company’s net investment in unconsolidated entities (2)	$	116,452	$	173,465	$	3,357		$	37,343	$	330,617

(1) Included in other assets of the Structured Asset Joint Venture at January 31, 2013 and October 31, 2012 is $277.3 million and $237.5 million, respectively, of restricted cash held in a defeasance account which will be used to repay debt of the Structured Asset Joint Venture.

(2) Differences between the Company’s net investment in unconsolidated entities and its underlying equity in the net assets of the entities is primarily a result of the acquisition price of an investment in an entity in fiscal 2012 which was in excess of the Company's pro-rata share of the underlying equity, impairments related to the Company’s investments in unconsolidated entities, a loan made to one of the entities by the Company, and distributions from entities in excess of the carrying amount of the Company’s net investment.

Condensed statements of operations aggregate by type of business

Condensed Statements of Operations and Comprehensive Income (Loss):

	For the three months ended January 31, 2013
	Develop- ment Joint Ventures			Home Building Joint Ventures		Trust and Trust II			Structured Asset Joint Venture			Total
Revenues	$	1,627		$	8,970	$	9,682		$	9,705		$	29,984
Cost of revenues	1,219			7,105		4,293			10,338			22,955
Other expenses	191			193		5,766			1,058			7,208
Total expenses—net	1,410			7,298		10,059			11,396			30,163
Gain on disposition of loans and REO									26,892			26,892
Income (loss) from operations	217			1,672		(377		)	25,201			26,713
Other income	3			19					79			101
Net income (loss) before noncontrolling interest	220			1,691		(377		)	25,280			26,814
Less: Net income attributable to noncontrolling interest									(15,168		)	(15,168		)
Net income (loss)	220			1,691		(377		)	10,112			11,646
Other comprehensive income						302						302
Total comprehensive income (loss)	$	220		$	1,691	$	(75	)	$	10,112		$	11,948
Company’s equity in earnings (losses) of unconsolidated entities (3)	$	(98	)	$	843	$	425		$	1,913		$	3,083

	For the three months ended January 31, 2012
	Develop- ment Joint Ventures		Home Building Joint Ventures		Trust and Trust II			Structured Asset Joint Venture			Total
Revenues	$	33,584	$	23,430	$	9,476		$	8,133		$	74,623
Cost of revenues	31,771		17,794		3,343			11,067			63,975
Other expenses	225		945		6,785			2,631			10,586
Total expenses—net	31,996		18,739		10,128			13,698			74,561
Loss on disposition of loans and REO								(44		)	(44		)
Income (loss) from operations	1,588		4,691		(652		)	(5,609		)	18
Other income	2,653		5					137			2,795
Net income (loss) before noncontrolling interest	4,241		4,696		(652		)	(5,472		)	2,813
Less: Net loss attributable to noncontrolling interest								3,283			3,283
Net income (loss)	4,241		4,696		(652		)	(2,189		)	6,096
Other comprehensive loss					(447		)				(447		)
Total comprehensive income (loss)	$	4,241	$	4,696	$	(1,099	)	$	(2,189	)	$	5,649
Company’s equity in earnings (losses) of unconsolidated entities (3)	$	1,996	$	4,520	$	623		$	(452	)	$	6,687

(3) Differences between the Company’s equity in earnings (losses) of unconsolidated entities and the Company's percentage interest in the underlying net income (loss) of the entities is primarily a result of impairments related to the Company’s investment in unconsolidated entities, distributions from entities in excess of the carrying amount of the Company’s net investment, and the Company’s share of the entities’ profits related to home sites purchased by the Company which reduces the Company’s cost basis of the home sites.