Other Income - Net

9 Months Ended

Jul. 31, 2019

Other Income and Expenses [Abstract]

Other Income – Net

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



	Nine months ended July 31,					Three months ended July 31,
	2019			2018		2019			2018
Interest income	$	13,980		$	5,259	$	3,770		$	1,967
Income from ancillary businesses	21,622			10,209		3,536			2,753
Management fee income from home building unconsolidated entities, net	6,374			9,600		1,647			2,175
Retained customer deposits				4,951					796
Income from land sales				4,175					888
Other	(1,109		)	1,562		(232		)	2,386
Total other income – net	$	40,867		$	35,756	$	8,721		$	10,965

As a result of our adoption of ASC 606 as of November 1, 2018, revenues and cost of revenues from land sales are presented as separate components on our Condensed Consolidated Statement of Operations and Comprehensive Income. In addition, retained customer deposits are presented in home sales revenues on our Condensed Consolidated Statement of Operations and Comprehensive Income. Because we elected to apply the modified retrospective method of adoption, prior periods have not been restated to reflect these changes in presentation. See Note 1, “Significant Accounting Policies – Recent Accounting Pronouncements” for additional information regarding the impact of the adoption of ASC 606.

Management fee income from home building unconsolidated entities presented above primarily represents fees earned by Toll Brothers City Living^® (“City Living”) and traditional home building operations. In addition, in the nine-month periods ended July 31, 2019 and 2018, our apartment living operations earned fees from unconsolidated entities of $6.8 million and $5.8 million, respectively. In the three-month periods ended July 31, 2019 and 2018, our apartment living operations earned fees from unconsolidated entities of $2.1 million and $1.9 million, respectively. Fees earned by our apartment living operations are included in income from ancillary businesses.

Income from ancillary businesses is generated by 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):



	Nine months ended July 31,				Three months ended July 31,
	2019		2018		2019		2018
Revenues	$	102,670	$	103,049	$	37,541	$	37,815
Expenses	$	94,379	$	92,840	$	34,005	$	35,062
Other income	$	13,331

In December 2018, we sold one of our golf club properties to a third party for $18.2 million and we recognized a gain of $12.2 million in the first quarter of fiscal 2019.

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



	Nine months ended July 31, 2018		Three months ended July 31, 2018
Revenues	$	52,302	$	10,949
Expenses	48,127		10,061
Income from land sales	$	4,175	$	888