Note 17 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)

3 Months Ended

Jan. 31, 2019

Notes Tables

Equity Method Investments [Table Text Block]

(Dollars in thousands)	January 31, 2019
	Homebuilding		Land Development		Total
Assets:
Cash and cash equivalents	$65,736		$1,415		$67,151
Inventories	498,886		9,264		508,150
Other assets	30,522		-		30,522
Total assets	$595,144		$10,679		$605,823
Liabilities and equity:
Accounts payable and accrued liabilities	$70,995		$1,246		$72,241
Notes payable	250,925		-		250,925
Total liabilities	321,920		1,246		323,166
Equity of:
Hovnanian Enterprises, Inc.	120,115		4,385		124,500
Others	153,109		5,048		158,157
Total equity	273,224		9,433		282,657
Total liabilities and equity	$595,144		$10,679		$605,823
Debt to capitalization ratio	48	%	0	%	47	%

(Dollars in thousands)	October 31, 2018
	Homebuilding		Land Development		Total
Assets:
Cash and cash equivalents	$50,010		$2,275		$52,285
Inventories	506,650		8,004		514,654
Other assets	35,105		-		35,105
Total assets	$591,765		$10,279		$602,044
Liabilities and equity:
Accounts payable and accrued liabilities	$79,108		$746		$79,854
Notes payable	236,665		-		236,665
Total liabilities	315,773		746		316,519
Equity of:
Hovnanian Enterprises, Inc.	114,950		4,369		119,319
Others	161,042		5,164		166,206
Total equity	275,992		9,533		285,525
Total liabilities and equity	$591,765		$10,279		$602,044
Debt to capitalization ratio	46	%	0	%	45	%

	For the Three Months Ended January 31, 2019
(In thousands)	Homebuilding		Land Development		Total
Revenues	$95,774		$1,005		$96,779
Cost of sales and expenses	(89,312	)	(971	)	(90,283	)
Joint venture net income	$6,462		$34		$6,496
Our share of net income	$9,541		$17		$9,558

	For the Three Months Ended January 31, 2018
(In thousands)	Homebuilding		Land Development		Total
Revenues	$58,565		$1,275		$59,840
Cost of sales and expenses	(72,136	)	(1,158	)	(73,294	)
Joint venture net (loss) income	$(13,571	)	$117		$(13,454	)
Our share of net (loss) income	$(5,199	)	$59		$(5,140	)