Other Income - Net

6 Months Ended

Apr. 30, 2020

Other Income and Expenses [Abstract]

Other Income - net

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,
	2020		2019		2020		2019
Interest income	$	6,798	$	10,210	$	1,896	$	4,338
Income from ancillary businesses	15,104		18,086		14,582		4,242
Management fee income from home building unconsolidated entities, net	1,553		4,727		207		3,119
Directly expensed interest	(2,440)				(2,440)
Other	(884)		(877)		(409)		(414)
Total other income – net	$	20,131	$	32,146	$	13,836	$	11,285

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 six-month periods ended April 30, 2020 and 2019, our apartment living operations earned fees from unconsolidated entities of $7.2 million and $4.7 million, respectively. In the three-months ended April 30, 2020 and 2019, our apartment living operations earned fees from unconsolidated entities of $3.5 million and $2.1 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):

	Six months ended April 30,				Three months ended April 30,
	2020		2019		2020		2019
Revenues	$	53,842	$	65,129	$	27,432	$	32,846
Expenses	$	51,708	$	60,374	$	25,820	$	29,749
Other income	$	12,970	$	13,331	$	12,970	$	1,145

In April 2020, we sold one of our golf club properties to a third party for $15.6 million and recognized a gain of $9.1 million in the second quarter of fiscal 2020. In addition, we recognized a previously deferred gain of $3.8 million in our second quarter of fiscal 2020 related to the sale of a golf club property. 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. In addition, in the fourth quarter of fiscal 2019, we sold six of our golf club properties to a third party.