Other Income - Net (Tables)

12 Months Ended

Oct. 31, 2017

Other Income and Expenses [Abstract]

Other Income - net [Table Text Block]

The table below provides the components of “Other income – net” for the years ended October 31, 2017, 2016, and 2015 (amounts in thousands):

	2017		2016		2015
Interest income	$	5,988	$	2,443	$	1,939
Income from ancillary businesses	16,276		17,473		23,530
Gibraltar	2,658		6,646		10,168
Management fee income from home building unconsolidated entities, net	12,902		10,270		11,299
Retained customer deposits	5,801		5,866		5,224
Income from land sales	8,621		13,327		13,150
Other	1,063		2,193		2,263
Total other income – net	$	53,309	$	58,218	$	67,573

Revenues and Expenses of Non Core Ancillary Businesses [Table Text Block]

The table below provides revenues and expenses for these ancillary businesses for the years ended October 31, 2017, 2016, and 2015 (amounts in thousands):

	2017		2016		2015
Revenue	$	132,619	$	123,512	$	119,732
Expense	$	116,343	$	106,039	$	96,202

Schedule of revenues and expenses from land sales [Table Text Block]

The table below provides revenues and expenses recognized from land sales for the years ended October 31, 2017, 2016, and 2015 (amounts in thousands):

	2017			2016			2015
Revenue	$	284,928		$	85,268		$	183,870
Expense	(278,034		)	(70,488		)	(161,460		)
Deferred gains on land sales to joint ventures	(2,996		)	(2,999		)	(9,260		)
Deferred gains recognized	4,723			1,546
	$	8,621		$	13,327		$	13,150

Land sale revenues for the year ended October 31, 2017 included $257.8 million related to in substance real estate sale transactions with two new Home Building Joint Ventures and a Rental Property Joint Venture in which we have interests ranging from 20% to 25%. No gain or loss was realized on the sales related to the Home Building Joint Ventures. Due to our continued involvement in the new Rental Property Joint Venture through our retained ownership interest and guarantees provided on the joint venture’s debt, we deferred the $3.0 million gain realized on this sale. We will recognize the deferred gain into income as the guarantees provided expire and when we sell our ownership interest in the Rental Property Joint Venture.

Land sale revenues for the year ended October 31, 2016 included $38.1 million related to an in substance real estate sale transaction with a new Rental Property Joint Venture in which we have a 50% interest. Due to our continued involvement in the joint venture through our ownership interest, we deferred 50% of the gain realized on the sale. We will recognize the deferred gain into income when we sell our ownership interest in the Rental Property Joint Venture.

Land sale revenues for the year October 31, 2015, include $78.5 million related to property sold to a Home Building Joint Venture in which we had 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 recognized the gain as units were sold to the ultimate home buyers which is included in deferred gains recognized above. In the fourth quarter of fiscal 2017, we purchased the remaining inventory from this Home Building Joint Venture. The remaining unamortized deferred gain was used to reduce the basis of the inventory acquired.

See Note 4, “Investments in Unconsolidated Entities,” for more information on these transactions.