Receivables, Prepaid Expenses, and Other Assets

9 Months Ended

Jul. 31, 2020

Receivables, prepaid expenses and other assets [Abstract]

Receivables, Prepaid Expenses, and Other Assets [Text Block]

Receivables, Prepaid Expenses, and Other Assets

Receivables, prepaid expenses, and other assets at July 31, 2020 and October 31, 2019, consisted of the following (amounts in thousands):

	July 31, 2020		October 31, 2019
Expected recoveries from insurance carriers and others	$	79,818	$	114,162
Improvement cost receivable	108,006		100,864
Escrow cash held by our captive title company	25,590		32,863
Properties held for rental apartment and commercial development	534,843		367,072
Prepaid expenses	25,475		26,041
Right-of-use asset (1)	106,049		—
Other	88,635		74,439
	$	968,416	$	715,441

(1)  On November 1, 2019, we adopted ASU 2016-02 which resulted in the establishment of an ROU asset on our Condensed Consolidated Balance Sheet as of January 31, 2020. The Condensed Consolidated Balance Sheet as of October 31, 2019 does not reflect any changes resulting from the adoption of the new standard. See Note 1, “Significant Accounting Policies – Recent Accounting Pronouncements” for additional information regarding the adoption of ASU 2016-02.

See Note 7, “Accrued Expenses,” for additional information regarding the expected recoveries from insurance carriers and others.

As of July 31, 2020 and October 31, 2019, properties held for rental apartment and commercial development include $155.0 million and $145.8 million, respectively, of assets related to consolidated VIEs. See Note 4, “Investments in Unconsolidated Entities” for additional information regarding VIEs.