Other Income – Net

The table below provides the significant components of other income – net (amounts in thousands):



	Six months ended April 30,						Three months ended April 30,
	2018			2017			2018			2017
Interest income	$	3,292		$	1,930		$	1,212		$	989
Income from ancillary businesses	7,456			9,716			4,873			7,481
Management fee income from home building unconsolidated entities, net	7,425			7,971			4,354			3,682
Retained customer deposits	4,155			3,054			3,071			1,308
Income from land and other sales	3,287			5,086			2,587			1,527
Other	(824		)	(1,068		)	(303		)	(1,001		)
Total other income – net	$	24,791		$	26,689		$	15,794		$	13,986

Management fee income from home building unconsolidated entities presented above primarily represents fees earned by Toll Brothers City Living^® (“City Living”) and home building operations. In addition, in the six-month periods ended April 30, 2018 and 2017, our apartment living operations earned fees from unconsolidated entities of $4.0 million and $2.8 million, respectively. In the three-month periods ended April 30, 2018 and 2017, our apartment living operations earned fees from unconsolidated entities of $1.7 million and $1.3 million, respectively. Fees earned by our apartment living operations are included in income from ancillary businesses.

Income from ancillary businesses includes our mortgage, title, landscaping, security monitoring, Gibraltar, and golf course and country club operations. The table below provides, for the periods indicated, revenues and expenses for our ancillary businesses (amounts in thousands):



	Six months ended April 30,				Three months ended April 30,
	2018		2017		2018		2017
Revenues	$	65,234	$	61,294	$	33,911	$	32,414
Expenses	$	57,778	$	51,578	$	29,038	$	24,933

The table below provides, for the periods indicated, revenues and expenses recognized from land and other sales (amounts in thousands):



	Six months ended April 30,						Three months ended April 30,
	2018			2017			2018			2017
Revenues	$	45,186		$	146,837		$	38,218		$	2,123
Expenses	(38,065		)	(146,205		)	(31,797		)	(1,932		)
Deferred gain on land sale to joint venture	(3,834		)				(3,834		)
Deferred gain recognized				4,454						1,336
Income from land and other sales	$	3,287		$	5,086		$	2,587		$	1,527

Land sale revenues for the six months and three months ended April 30, 2018 include $28.8 million related to in substance real estate sale transactions which resulted in two Rental Property Joint Ventures in which we have a 50% interest in each. On one of these transactions, we recognized a gain of $1.0 million in the second quarter of fiscal 2018. In addition, due to our continued involvement in the joint venture primarily through guarantees provided on the joint venture’s debt, we deferred $3.8 million of gain from the sale. We expect to recognize this deferred gain as the related guarantees expire.

Land sale revenues for the six months ended April 30, 2017 include $143.3 million related to an in substance real estate sale transaction which resulted in a new Home Building Joint Venture in which we have a 20% interest. No gain or loss was realized on the sale. The deferred gains recognized in the fiscal 2017 periods relate to the sale of a property in fiscal 2015 to a Home Building Joint Venture in which we had a 25% interest. Due to our continued involvement in this unconsolidated entity through our ownership interest and guarantees provided on the entity’s debt, we deferred the $9.3 million gain realized on the sale. We recognized the gain as units were sold to the ultimate home buyers which is included in deferred gains recognized above. In the fourth quarter of fiscal 2017, we purchased the remaining inventory from this Home Building Joint Venture. The remaining unamortized deferred gain was used to reduce the basis of the inventory acquired.