Other Income - Net

3 Months Ended

Jan. 31, 2019

Other Income and Expenses [Abstract]

Other Income - net

Other Income – Net

The table below provides the significant components of other income – net (amounts in thousands):

	Three months ended January 31,
	2019			2018
Interest income	$	5,872		$	2,080
Income from ancillary businesses	13,844			2,583
Management fee income from home building unconsolidated entities, net	1,608			3,071
Retained customer deposits	—			1,084
Income from land sales	—			700
Other	(463		)	(521		)
Total other income – net	$	20,861		$	8,997

As a result of our adoption of ASU 2014-09, as further discussed in Note 1, as of November 1, 2018, revenues and cost of revenues from land sales are presented as separate components on our Condensed Consolidated Statement of Operations and Comprehensive Income. In addition, retained customer deposits are presented in home sales revenues on our Condensed Consolidated Statement of Operations and Comprehensive Income. Because we elected to apply the modified retrospective method of adoption, prior periods have not been restated to reflect these changes in presentation.

Management fee income from home building unconsolidated entities presented above primarily represents fees earned by Toll Brothers City Living^® (“City Living”) and traditional home building operations. In addition, in the three-month periods ended January 31, 2019 and 2018, our apartment living operations earned fees from unconsolidated entities of $2.7 million and $2.3 million, respectively. Fees earned by our apartment living operations are included in income from ancillary businesses.

Income from ancillary businesses is generated by our mortgage, title, landscaping, security monitoring, Gibraltar, and golf course and country club operations. The table below provides, for the periods indicated, revenues and expenses for our ancillary businesses (amounts in thousands):

	Three months ended January 31,
	2019		2018
Revenues	$	32,283	$	31,323
Expenses	$	30,625	$	28,740
Other income	$	12,186	$	—

In December 2018, we sold one of our golf club properties to a third party for $18.2 million and we recognized a gain of $12.2 million in the first quarter of fiscal 2019.

The table below provides revenues and expenses recognized from land sales for the three months ended January 31, 2018 (amounts in thousands):

Revenues	$	6,968
Expenses	(6,268		)
Income from land sales	$	700