Inventory (Tables)
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6 Months Ended |
Apr. 30, 2018 |
Inventory Disclosure [Abstract] |
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Inventory |
Inventory at April 30, 2018 and October 31, 2017 consisted of the following (amounts in thousands): | | | | | | | | | | April 30, 2018 | | October 31, 2017 | Land controlled for future communities | $ | 164,206 |
| | $ | 87,158 |
| Land owned for future communities | 1,064,967 |
| | 1,142,870 |
| Operating communities | 6,642,396 |
| | 6,051,425 |
| | $ | 7,871,569 |
| | $ | 7,281,453 |
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Temporarily Closed communities |
Information regarding the classification, number, and carrying value of these temporarily closed communities, as of the dates indicated, is provided in the table below: | | | | | | | | | | April 30, 2018 | | October 31, 2017 | Land owned for future communities: | | | | Number of communities | 16 |
| | 14 |
| Carrying value (in thousands) | $ | 126,998 |
| | $ | 110,732 |
| Operating communities: | | | | Number of communities | 2 |
| | 6 |
| Carrying value (in thousands) | $ | 14,493 |
| | $ | 26,749 |
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Inventory impairment charges and expensing of costs that it is believed not to be recoverable |
The amounts we have provided for inventory impairment charges and the expensing of costs that we believed not to be recoverable, for the periods indicated, are shown in the table below (amounts in thousands): | | | | | | | | | | | | | | | | | | Six months ended April 30, | | Three months ended April 30, | | 2018 | | 2017 | | 2018 | | 2017 | Land controlled for future communities | $ | 377 |
| | $ | 782 |
| | $ | 260 |
| | $ | 121 |
| Land owned for future communities | 247 |
| | 1,200 |
| | 247 |
| | 1,200 |
| Operating communities | 17,061 |
| | 6,935 |
| | 13,325 |
| | 2,935 |
| | $ | 17,685 |
| | $ | 8,917 |
| | $ | 13,832 |
| | $ | 4,256 |
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Interest incurred, capitalized and expensed |
Interest incurred, capitalized, and expensed, for the periods indicated, was as follows (amounts in thousands): | | | | | | | | | | | | | | | | | | Six months ended April 30, | | Three months ended April 30, | | 2018 | | 2017 | | 2018 | | 2017 | Interest capitalized, beginning of period | $ | 352,049 |
| | $ | 369,419 |
| | $ | 354,496 |
| | $ | 376,880 |
| Interest incurred | 81,269 |
| | 85,310 |
| | 42,582 |
| | 43,536 |
| Interest expensed to cost of revenues | (78,912 | ) | | (68,486 | ) | | (45,027 | ) | | (40,558 | ) | Interest expensed in other income | (1,001 | ) | | (1,995 | ) | | (285 | ) | | (1,953 | ) | Interest capitalized on investments in unconsolidated entities | (3,602 | ) | | (4,214 | ) | | (1,891 | ) | | (1,820 | ) | Previously capitalized interest transferred to investments in unconsolidated entities |
| | (4,030 | ) | |
| |
| Previously capitalized interest on investments in unconsolidated entities transferred to inventory | 115 |
| | 209 |
| | 43 |
| | 128 |
| Interest capitalized, end of period | $ | 349,918 |
| | $ | 376,213 |
| | $ | 349,918 |
| | $ | 376,213 |
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