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Investments in Unconsolidated Entities (Tables)
 9 Months Ended
Jul. 31, 2021
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]  
Summary of Joint Venture Information The table below provides information as of July 31, 2021, regarding active joint ventures that we are invested in, by joint venture category ($ amounts in thousands):
 Land
Development
Joint Ventures		Home Building
Joint Ventures		Rental Property
Joint Ventures		Gibraltar
Joint Ventures		Total
Number of unconsolidated entities
13328448
Investment in unconsolidated entities$235,796 $16,508 $271,161 $26,967 $550,432 
Number of unconsolidated entities with funding commitments by the Company
6—61 13
Company’s remaining funding commitment to unconsolidated entities
$25,486 $— $26,964 $25,085 $77,535 
Summary of Joint Ventures Borrowing information Certain joint ventures in which we have investments obtained debt financing to finance a portion of their activities. The table below provides information at July 31, 2021, regarding the debt financing obtained by category ($ amounts in thousands):
 Land
Development
Joint Ventures		Rental Property
Joint Ventures		Total
Number of joint ventures with debt financing
62531
Aggregate loan commitments$326,735 $2,049,486 $2,376,221 
Amounts borrowed under loan commitments
$276,509 $1,403,337 $1,679,846 
New joint venture formations
The table below provides information on joint ventures entered into during the nine-months ended July 31, 2021 ($ amounts in thousands):
Land Development Joint VenturesRental Property Joint Ventures
Number of unconsolidated joint ventures entered into during the period44
Investment balance at July 31, 2021$102,700 $51,300 
The table below provides information on joint ventures entered into during the nine-months ended July 31, 2020 ($ amounts in thousands):
Land Development Joint VenturesRental Property Joint Ventures
Number of unconsolidated joint ventures entered into during the period1 6 
Investment balance at July 31, 2020$24,600 $62,600 
Summary of Unconsolidated Entities Debt Obligations, Loan Commitments and Guarantees Information with respect to certain of the Company’s unconsolidated entities’ outstanding debt obligations, loan commitments and our guarantees thereon are as follows ($ amounts in thousands):
July 31, 2021
Loan commitments in the aggregate$1,866,300 
Our maximum estimated exposure under repayment and carry cost guarantees if the full amount of the debt obligations were borrowed$340,600 
Debt obligations borrowed in the aggregate$1,169,900 
Our maximum estimated exposure under repayment and carry cost guarantees of the debt obligations borrowed$238,600 
Estimated fair value of guarantees provided by us related to debt and other obligations$9,400 
Terms of guarantees1 months -
3.9 years
Condensed balance sheet
Condensed Combined Balance Sheets:
 July 31,
2021		October 31,
2020
Cash and cash equivalents$150,668 $109,478 
Inventory748,938 511,000 
Loans receivable, net79,170 78,576 
Rental properties1,421,009 1,244,911 
Rental properties under development754,755 666,386 
Real estate owned2,332 6,752 
Other assets198,560 169,368 
Total assets$3,355,432 $2,786,471 
Debt, net of deferred financing costs$1,689,292 $1,368,065 
Other liabilities212,498 186,817 
Members’ equity1,453,642 1,231,173 
Noncontrolling interest— 416 
Total liabilities and equity$3,355,432 $2,786,471 
Company’s net investment in unconsolidated entities (1)
$550,432 $430,701 
(1)    Our underlying equity in the net assets of the unconsolidated entities exceeded our net investment in unconsolidated entities by $17.8 million and $29.4 million as of July 31, 2021 and October 31, 2020, respectively, and these differences are primarily a result of other than temporary impairments related to our investments in unconsolidated entities; interest capitalized on our investments; the estimated fair value of the guarantees provided to the joint ventures; unrealized gains on our retained joint venture interests; gains recognized from the sale of our ownership interests; and distributions from entities in excess of the carrying amount of our net investment.
Condensed statements of operations and comprehensive income
Condensed Combined Statements of Operations:
 Three months ended July 31,Nine months ended July 31,
 2021202020212020
Revenues$89,304 $78,897 $268,257 $291,179 
Cost of revenues (2)
52,414 56,830 209,273 197,192 
Other expenses (2)
37,497 28,185 107,968 106,422 
Total expenses89,911 85,015 317,241 303,614 
(Loss) gain on disposition of loans and real estate owned(2,575)1,053 (2,785)1,053 
Loss from operations(3,182)(5,065)(51,769)(11,382)
Other income44,065 448 79,398 977 
Income (loss) before income taxes40,883 (4,617)27,629 (10,405)
Income tax expense (benefit)27 37 (1,632)(111)
Net income (loss) including earnings from noncontrolling interests40,856 (4,654)29,261 (10,294)
Less: loss (income) attributable to noncontrolling interest— 34 (174)34 
Net income (loss) attributable to controlling interest$40,856 $(4,620)$29,087 $(10,260)
Company’s equity in earnings (losses) of unconsolidated entities (3)
$16,636 $(2,566)$28,313 $5,304 
(2)    Effective October 31, 2020, we reclassified sales commissions paid to third-party brokers from home sales cost of revenues to selling, general and administrative expense. Prior year periods have been reclassified to conform to the 2021 presentation.
(3)    Differences between our equity in earnings of unconsolidated entities and the underlying net income (loss) of the entities are primarily a result of distributions from entities in excess of the carrying amount of our investment; other than temporary impairments related to our investments in unconsolidated entities; recoveries of previously incurred charges; unrealized gains on our retained joint venture interests; gains recognized from the sale of our investment to our joint
venture partner; and our share of the entities’ profits related to home sites purchased by us which reduces our cost basis of the home sites acquired.
Consolidated Joint Venture Related Variable Interest Entities
The table below provide information as of July 31, 2021 and October 31, 2020, regarding our consolidated joint venture-related variable interests in VIEs ($ amounts in thousands):
Balance Sheet ClassificationJuly 31,
2021		October 31,
2020
Number of Joint Venture VIEs that the Company is the PB and consolidates
5 5 
Carrying value of consolidated VIEs assetsReceivables prepaid expenses, and other assets$120,000 $163,000 
Our partners’ interests in consolidated VIEsNoncontrolling interest$43,000 $46,200 
Our ownership interest in the above consolidated Joint Venture VIEs ranges from 50% to 98%.
Unconsolidated Joint Venture Related Variable Interest Entities
The table below provides information as of July 31, 2021 and October 31, 2020, regarding our unconsolidated joint venture-related variable interests in VIEs ($ amounts in thousands):
July 31,
2021		October 31,
2020
Number of Joint Venture VIEs that the Company is not the Primary Beneficiary (“PB”)
11 12 
Investment balance in unconsolidated Joint Venture VIEs included in Investments in unconsolidated entities in our Consolidated Balance Sheets$101,200 $63,100 
Our maximum exposure to losses related to loan guarantees and additional commitments provided to unconsolidated Joint Venture VIEs$279,300 $122,100 
Our ownership interest in the above unconsolidated Joint Venture VIEs ranges from 20% to 50%.