Inventory (Tables)

9 Months Ended

Jul. 31, 2021

Inventory Disclosure [Abstract]

Inventory

Inventory at July 31, 2021 and October 31, 2020 consisted of the following (amounts in thousands):

	July 31, 2021		October 31, 2020
Land controlled for future communities	$	167,038	$	223,525
Land owned for future communities	574,042		1,036,843
Operating communities	7,552,200		6,398,538
	$	8,293,280	$	7,658,906

Temporarily Closed communities

Information regarding the classification, number, and carrying value of these temporarily closed communities, as of the dates indicated, is provided in the table below:

	July 31, 2021		October 31, 2020
Land owned for future communities:
Number of communities	6		10
Carrying value (in thousands)	$	41,787	$	68,064
Operating communities:
Number of communities	1		4
Carrying value (in thousands)	$	6,921	$	32,112

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

The amounts we have provided for inventory impairment charges and the expensing of costs that we believe not to be recoverable, for the periods indicated, are shown in the table below (amounts in thousands):

	Three months ended July 31,				Nine months ended July 31,
	2021		2020		2021		2020
Land controlled for future communities	$	2,045	$	3,926	$	3,792	$	16,765
Land owned for future communities	11,105		2,764		11,105		4,869
Operating communities	—		—		1,100		300
	$	13,150	$	6,690	$	15,997	$	21,934

Interest incurred, capitalized and expensed

Interest incurred, capitalized, and expensed, for the periods indicated, was as follows (amounts in thousands): 

	Three months ended July 31,				Nine months ended July 31,
	2021		2020		2021		2020
Interest capitalized, beginning of period	$	295,145	$	324,864	$	297,975	$	311,323
Interest incurred	37,133		41,794		116,447		131,547
Interest expensed to home sales cost of revenues	(49,995)		(40,467)		(127,412)		(111,278)
Interest expensed to land sales and other cost of revenues	(1,064)		(2,820)		(3,482)		(4,124)
Interest expensed in other income – net	—		—		—		(2,440)
Interest reclassified to property, construction and office equipment	(1,034)		—		(1,034)		—
Interest capitalized on investments in unconsolidated entities	(1,078)		(1,013)		(3,403)		(2,790)
Previously capitalized interest on investments in unconsolidated entities transferred to inventory	76		88		92		208
Interest capitalized, end of period	$	279,183	$	322,446	$	279,183	$	322,446