Other Income - Net (Tables)

12 Months Ended

Oct. 31, 2019

Other Income and Expenses [Abstract]

Other Income - net [Table Text Block]

The table below provides the components of “Other income – net” for the years ended October 31, 2019, 2018, and 2017 (amounts in thousands):

	2019			2018		2017
Interest income	$	19,017		$	8,570	$	5,988
Income from ancillary businesses	53,568			25,692		18,934
Management fee income from home building unconsolidated entities, net	9,948			11,740		12,902
Retained customer deposits	—			8,937		5,801
Income from land sales	—			6,331		8,621
Other	(1,031		)	1,190		(1,184		)
Total other income – net	$	81,502		$	62,460	$	51,062

Revenues and Expenses of Non Core Ancillary Businesses [Table Text Block]

The table below provides revenues and expenses for these ancillary businesses for the years ended October 31, 2019, 2018, and 2017 (amounts in thousands):

	2019		2018		2017
Revenues	$	150,114	$	158,051	$	134,116
Expenses	$	132,823	$	132,359	$	115,182
Other income	$	36,277

Schedule of revenues and expenses from land sales [Table Text Block]

The table below provides revenues and expenses recognized from land sales for the years ended October 31, 2018, and 2017 (amounts in thousands):

	2018		2017
Revenue	$	134,327	$	284,928
Expense	127,996		281,030
Deferred gains recognized			4,723
	$	6,331	$	8,621

Land sale revenues for the year ended October 31, 2018 included $80.3 million related to sale transactions with four Rental Property Joint Ventures in which we have interests ranging from 25% to 50%. On one of these transactions, we recognized a gain of $1.0 million in 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 the gain realized on this sale. We will recognize the deferred gain into income as the guarantees provided expire.

Land sale revenues for the year ended October 31, 2017 included $257.8 million related to sale transactions with two Home Building Joint Ventures and a Rental Property Joint Venture in which we have interests ranging from 20% to 25%. No gain or loss was realized on the sales related to the Home Building Joint Ventures.

The deferred gains recognized in the fiscal 2017 period 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.

See Note 4, “Investments in Unconsolidated Entities,” for more information on these transactions.