XML 84 R19.htm IDEA: XBRL DOCUMENT v2.4.1.9
Other Income - Net
3 Months Ended
Jan. 31, 2015
Other Income and Expenses [Abstract]  
Other Income - net
Other Income - Net
The table below provides, for the periods indicated, the components of other income - net (amounts in thousands):
 
Three months ended January 31,
 
2015
 
2014
Interest income
$
488

 
$
1,064

Income from ancillary businesses
10,839

 
1,613

Gibraltar
822

 
4,332

Management fee income from unconsolidated entities
2,979

 
1,227

Retained customer deposits
1,340

 
888

Income from land sales
4,817

 
6,258

Other
731

 
1,159

Total other income - net
$
22,016

 
$
16,541


In the three months ended January 31, 2015, our security monitoring business recognized an $8.1 million gain from a bulk sale of security monitoring accounts, which is included in income from ancillary businesses above. In the three month period ended January 31, 2014, income from land sales includes $2.9 million of previously deferred gains on our initial sales of the properties to Trust II as further described in Note 4, “Investments in and Advances to Unconsolidated Entities.”
Income from ancillary businesses includes the activity of our non-core businesses which include our mortgage, title, landscaping, security monitoring, and golf course and country club operations. The table below provides, for the periods indicated, revenues and expenses for our non-core ancillary businesses (amounts in thousands):
 
Three months ended January 31,
 
2015
 
2014
Revenue
$
31,280

 
$
20,940

Expense
$
20,441

 
$
19,327


The table below provides, for the periods indicated, revenues and expenses recognized from land sales (amounts in thousands):
 
Three months ended January 31,
 
2015
 
2014
Revenue
$
104,021

 
$
11,028

Deferred gain on land sale to joint venture
(9,260
)
 


Expense
(89,944
)
 
(4,770
)
Income from land sales
$
4,817

 
$
6,258


Land sale revenues, for the three months ended January 31, 2015, include $78.5 million related to property sold to a Home Building Joint Venture in which we have a 25% interest. Due to our continued involvement in the joint venture through our ownership interest and guarantees provided on the joint venture’s debt, we deferred the $9.3 million gain realized on the sale. We will recognize the gain as units are sold to the ultimate home buyer. See Note 4, “Investments in and Advances to Unconsolidated Entities” for more information on this transaction.