Inventory (Tables)

12 Months Ended

Oct. 31, 2020

Inventory at October 31, 2020 and 2019 consisted of the following (amounts in thousands):


	2020		2019
Land controlled for future communities	$	223,525	$	182,929
Land owned for future communities	1,036,843		868,202
Operating communities	6,398,538		6,821,917
	$	7,658,906	$	7,873,048

Temporarily Closed communities

Information regarding the classification, number, and carrying value of these temporarily closed communities at October 31, 2020, 2019, and 2018, is provided in the table below ($ amounts in thousands):


	2020		2019		2018
Land owned for future communities:
Number of communities	10		16		17
Carrying value (in thousands)	$	68,064	$	120,857	$	124,426
Operating communities:
Number of communities	4		1		1
Carrying value (in thousands)	$	32,112	$	2,871	$	2,622

Inventory impairment charges and expensing of costs that it is believed not to be recoverable

We provided for inventory impairment charges and the expensing of costs that we believed not to be recoverable in each of the three fiscal years ended October 31, 2020, 2019, and 2018, as shown in the table below (amounts in thousands):


Charge:	2020		2019		2018
Land controlled for future communities	$	23,539	$	11,285	$	2,820
Land owned for future communities	31,669		—		2,185
Operating communities	675		31,075		30,151
	$	55,883	$	42,360	$	35,156

Interest incurred, capitalized and expensed

Interest incurred, capitalized, and expensed in each of the three fiscal years ended October 31, 2020, 2019, and 2018, was as follows (amounts in thousands):


	2020		2019		2018
Interest capitalized, beginning of year	$	311,323	$	319,364	$	352,049
Interest incurred	172,530		178,035		165,977
Interest expensed to home sales cost of revenues	(174,375)		(185,045)		(190,734)
Interest expensed to land sales and other cost of revenues	(5,443)		(1,787)		—
Interest expensed in other income – net	(2,440)		—		(3,760)

Interest capitalized on investments in unconsolidated entities	(3,835)		(4,571)		(7,220)

Previously capitalized interest on investments in unconsolidated entities transferred to inventory	215		5,327		3,052
Interest capitalized, end of year	$	297,975	$	311,323	$	319,364