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

3 Months Ended

Jan. 31, 2020

Notes Tables

Equity Method Investments [Table Text Block]

(Dollars in thousands)	January 31, 2020
			Land
	Homebuilding		Development		Total
Assets:
Cash and cash equivalents	$71,647		$1,758		$73,405
Inventories	450,493		3,266		453,759
Other assets	25,079		459		25,538
Total assets	$547,219		$5,483		$552,702
Liabilities and equity:
Accounts payable and accrued liabilities	$91,851		$447		$92,298
Notes payable	145,764		-		145,764
Total liabilities	237,615		447		238,062
Equity of:
Hovnanian Enterprises, Inc.	131,017		4,141		135,158
Others	178,587		895		179,482
Total equity	309,604		5,036		314,640
Total liabilities and equity	$547,219		$5,483		$552,702
Debt to capitalization ratio	32	%	0	%	32	%

(Dollars in thousands)	October 31, 2019
			Land
	Homebuilding		Development		Total
Assets:
Cash and cash equivalents	$108,520		$2,203		$110,723
Inventories	397,804		6,038		403,842
Other assets	24,896		233		25,129
Total assets	$531,220		$8,474		$539,694
Liabilities and equity:
Accounts payable and accrued liabilities	$71,297		$592		$71,889
Notes payable	186,882		-		186,882
Total liabilities	258,179		592		258,771
Equity of:
Hovnanian Enterprises, Inc.	120,891		4,747		125,638
Others	152,150		3,135		155,285
Total equity	273,041		7,882		280,923
Total liabilities and equity	$531,220		$8,474		$539,694
Debt to capitalization ratio	41	%	0	%	40	%

	For the Three Months Ended January 31, 2020
(In thousands)			Land
	Homebuilding		Development		Total
Revenues	$86,964		$3,740		$90,704
Cost of sales and expenses	(88,551	)	(4,953	)	(93,504	)
Joint venture net loss	$(1,587	)	$(1,213	)	$(2,800	)
Our share of net income (loss)	$1,470		$(606	)	$864

	For the Three Months Ended January 31, 2019
(In thousands)			Land
	Homebuilding		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