Receivables, Prepaid Expenses and Other Assets

12 Months Ended

Oct. 31, 2020

Receivables, prepaid expenses and other assets [Abstract]

Receivables, prepaid expenses and other assets [Text Block]

5. Receivables, Prepaid Expenses, and Other Assets

Receivables, prepaid expenses, and other assets at October 31, 2020 and 2019, consisted of the following (amounts in thousands):

	2020		2019
Expected recoveries from insurance carriers and others	$	79,269	$	114,162
Improvement cost receivable	86,116		100,864
Escrow cash held by our captive title company	24,712		32,863
Properties held for rental apartment and commercial development	542,796		367,072
Prepaid expenses	28,104		26,041
Right-of-use asset (1)	105,004		—
Other	90,293		74,439
	$	956,294	$	715,441

(1)    On November 1, 2019, we adopted ASU 2016-02 which resulted in the establishment of a right-of-use (“ROU”) asset on our Consolidated Balance Sheet as of October 31, 2020. The Consolidated Balance Sheet as of October 31, 2019 does not reflect any changes resulting from the adoption of the new standard. See Note 1, “Significant Accounting Policies – Recent Accounting Pronouncements” for additional information regarding the adoption of ASU 2016-02.

See Note 7, “Accrued Expenses,” for additional information regarding the expected recoveries from insurance carriers and others.

As of October 31, 2020 and 2019, properties held for rental apartment and commercial development include $163.0 million and $145.8 million, respectively, of assets related to consolidated VIEs. See Note 4, “Investments in Unconsolidated Entities” for additional information regarding VIEs.