Inventory (Tables)

12 Months Ended

Oct. 31, 2022

Inventory Disclosure [Abstract]

Inventory

Inventory at October 31, 2022 and 2021 consisted of the following (amounts in thousands):

	2022		2021
Land controlled for future communities	$	240,751	$	185,656
Land owned for future communities	808,851		564,737
Operating communities	7,683,724		7,165,491
	$	8,733,326	$	7,915,884

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 believed not to be recoverable in each of the three fiscal years ended October 31, 2022, 2021, and 2020, are shown in the table below (amounts in thousands):

Charge:	2022		2021		2020
Land controlled for future communities	$	13,051	$	5,620	$	23,539
Land owned for future communities	19,690		19,805		31,669
Operating communities	—		1,110		675
	$	32,741	$	26,535	$	55,883

Interest incurred, capitalized and expensed

Interest incurred, capitalized, and expensed in each of the three fiscal years ended October 31, 2022, 2021, and 2020, was as follows (amounts in thousands):

	2022		2021		2020
Interest capitalized, beginning of year	$	253,938	$	297,975	$	311,323
Interest incurred	135,029		152,986		172,530
Interest expensed to home sales cost of revenues	(164,831)		(187,237)		(174,375)
Interest expensed to land sales and other cost of revenues	(5,788)		(4,372)		(5,443)
Interest expensed in other income – net	—		—		(2,440)
Interest reclassified to property, construction and office equipment - net	—		(1,034)		—
Interest capitalized on investments in unconsolidated entities	(6,699)		(4,574)		(3,835)
Previously capitalized interest transferred to investments in unconsolidated entities	(2,412)		—		—
Previously capitalized interest on investments in unconsolidated entities transferred to inventory	231		194		215
Interest capitalized, end of year	$	209,468	$	253,938	$	297,975