Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)

6 Months Ended

Apr. 30, 2016

Notes Tables

Equity Method Investments [Table Text Block]

(Dollars in thousands)	April 30, 2016
	Homebuilding			Land Development			Total
Assets:
Cash and cash equivalents		$29,757			$1,642			$31,399
Inventories		400,785			11,692			412,477
Other assets		19,536			-			19,536
Total assets		$450,078			$13,334			$463,412
Liabilities and equity:
Accounts payable and accrued liabilities		$39,591			$992			$40,583
Notes payable		116,852			3,319			120,171
Total liabilities		156,443			4,311			160,754
Equity of:
Hovnanian Enterprises, Inc.		66,300			3,271			69,571
Others		227,335			5,752			233,087
Total equity		293,635			9,023			302,658
Total liabilities and equity		$450,078			$13,334			$463,412
Debt to capitalization ratio		28	%		27	%		28	%

(Dollars in thousands)	October 31, 2015
	Homebuilding			Land Development			Total
Assets:
Cash and cash equivalents		$27,856			$1,755			$29,611
Inventories		314,814			11,767			326,581
Other assets		11,225			-			11,225
Total assets		$353,895			$13,522			$367,417
Liabilities and equity:
Accounts payable and accrued liabilities		$29,994			$669			$30,663
Notes payable		112,554			3,774			116,328
Total liabilities		142,548			4,443			146,991
Equity of:
Hovnanian Enterprises, Inc.		57,336			3,122			60,458
Others		154,011			5,957			159,968
Total equity		211,347			9,079			220,426
Total liabilities and equity		$353,895			$13,522			$367,417
Debt to capitalization ratio		35	%		29	%		35	%

	For the Three Months Ended April 30, 2016
(In thousands)	Homebuilding			Land Development			Total
Revenues		$25,760			$521			$26,281
Cost of sales and expenses		(31,480	)		(96	)		(31,576	)
Joint venture net (loss) income		$(5,720	)		$425			$(5,295	)
Our share of net (loss) income		$(1,353	)		$213			$(1,140	)

	For the Three Months Ended April 30, 2015
(In thousands)	Homebuilding			Land Development			Total
Revenues		$27,648			$1,483			$29,131
Cost of sales and expenses		(29,258	)		(1,722	)		(30,980	)
Joint venture net loss		$(1,610	)		$(239	)		$(1,849	)
Our share of net income (loss)		$1,465			$(119	)		$1,346

	For the Six Months Ended April 30, 2016
(In thousands)	Homebuilding			Land Development			Total
Revenues		$46,026			$1,617			$47,643
Cost of sales and expenses		(55,659	)		(1,319	)		(56,978	)
Joint venture net (loss) income		$(9,633	)		$298			$(9,335	)
Our share of net (loss) income		$(2,849	)		$149			$(2,700	)

	For the Six Months Ended April 30, 2015
(In thousands)	Homebuilding			Land Development			Total
Revenues		$64,774			$2,615			$67,389
Cost of sales and expenses		(59,117	)		(2,807	)		(61,924	)
Joint venture net income (loss)		$5,657			$(192	)		$5,465
Our share of net income (loss)		$2,932			$(96	)		$2,836