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Inventory (Tables)
12 Months Ended
Oct. 31, 2024
Inventory Disclosure [Abstract]  
Inventory
Major components of inventory at October 31, 2024 and 2023 consisted of the following (amounts in thousands):
October 31, 2024October 31, 2023
Land deposits and costs of future communities$620,040 $549,035 
Land and land development costs2,532,221 2,631,147 
Land and land development costs associated with homes under construction3,617,266 2,916,334 
Total land and land development costs6,769,527 6,096,516 
Homes under construction2,458,541 2,515,484 
Model homes (1)
484,857 445,578 
 $9,712,925 $9,057,578 
(1)    Includes the allocated land and land development costs associated with each of our model homes in operation.
The following table provides a summary of the composition of our inventory based on community status at October 31, 2024 and October 31, 2023 (amounts in thousands):
October 31, 2024October 31,
2023
Land controlled for future communities$200,166 $173,175 
Land owned for future communities353,030 663,413 
Operating communities9,159,729 8,220,990 
$9,712,925 $9,057,578 
Inventory impairment charges and expensing of costs that it is believed not to be recoverable
The amounts we have provided for inventory impairment charges and the expensing of costs that we believed not to be recoverable, included in home sales cost of revenues, in each of the three fiscal years ended October 31, 2024, 2023, and 2022, are shown in the table below (amounts in thousands):
202420232022
Land controlled for future communities$6,676 $10,712 $13,051 
Land owned for future communities— 1,493 19,690 
Operating communities52,765 18,501 — 
 $59,441 $30,706 $32,741 
Interest incurred, capitalized and expensed
Interest incurred, capitalized, and expensed in each of the three fiscal years ended October 31, 2024, 2023, and 2022, was as follows (amounts in thousands):
202420232022
Interest capitalized, beginning of year$190,550 $209,468 $253,938 
Interest incurred128,743 140,426 135,029 
Interest expensed to home sales cost of revenues(128,962)(139,410)(164,831)
Interest expensed to land sales and other cost of revenues(3,142)(10,787)(5,788)
Interest capitalized on investments in unconsolidated entities(8,404)(9,783)(6,699)
Previously capitalized interest transferred to investments in unconsolidated entities— (244)(2,412)
Previously capitalized interest on investments in unconsolidated entities transferred to inventory1,012 880 231 
Interest capitalized, end of year$179,797 $190,550 $209,468