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Note 3 - Interest - Interest Costs Incurred, Expensed and Capitalized (Details) - USD ($)
$ in Thousands
3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Interest    
Interest capitalized at beginning of period $ 43,263 $ 57,671
Plus interest incurred(1) [1] 29,567 29,855
Less cost of sales interest expensed (16,591) (19,356)
Less other interest expensed(2) [2] (12,158) (9,517)
Less interest contributed to unconsolidated joint ventures(3) [3] (1,109) (5,769)
Plus interest acquired from unconsolidated joint venture(4) [4] 425 0
Interest capitalized at end of period(4) [5] $ 43,397 $ 52,884
[1] Data does not include interest incurred by our mortgage and finance subsidiaries.
[2] During the three months ended January 31, 2026 and 2025, respectively, our inventory under development exceeded our debt, therefore, all of the related interest incurred qualified for interest capitalization. Other interest includes interest on completed homes, land in planning and fully developed lots without homes under construction, which does not qualify for capitalization, and therefore, is expensed as incurred.
[3] Represents capitalized interest which was included as part of the assets contributed to joint ventures, as discussed in Note 18. There was no impact to the Condensed Consolidated Statement of Operations as a result of these capitalized interest transactions.
[4] Represents capitalized interest which was included as part of the assets acquired from joint ventures, as discussed in Note 18. There was no impact to the Condensed Consolidated Statement of Operations as a result of these capitalized interest transactions.
[5] Capitalized interest amounts are shown gross before allocating a portion of impairments, if any, to capitalized interest.