Inventory (Tables)

12 Months Ended

Oct. 31, 2023

Inventory at October 31, 2023 and 2022 consisted of the following (amounts in thousands):


	2023		2022
Land controlled for future communities	$	173,175	$	240,751
Land owned for future communities	663,413		808,851
Operating communities	8,220,990		7,683,724
	$	9,057,578	$	8,733,326

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, 2023, 2022, and 2021, are shown in the table below (amounts in thousands):


Charge:	2023		2022		2021
Land controlled for future communities	$	10,712	$	13,051	$	5,620
Land owned for future communities	1,493		19,690		19,805
Operating communities	18,501		—		1,110
	$	30,706	$	32,741	$	26,535

Interest incurred, capitalized and expensed

Interest incurred, capitalized, and expensed in each of the three fiscal years ended October 31, 2023, 2022, and 2021, was as follows (amounts in thousands):


	2023		2022		2021
Interest capitalized, beginning of year	$	209,468	$	253,938	$	297,975
Interest incurred	140,426		135,029		152,986
Interest expensed to home sales cost of revenues	(139,410)		(164,831)		(187,237)
Interest expensed to land sales and other cost of revenues	(10,787)		(5,788)		(4,372)

Interest reclassified to property, construction and office equipment - net	—		—		(1,034)
Interest capitalized on investments in unconsolidated entities	(9,783)		(6,699)		(4,574)
Previously capitalized interest transferred to investments in unconsolidated entities	(244)		(2,412)		—
Previously capitalized interest on investments in unconsolidated entities transferred to inventory	880		231		194
Interest capitalized, end of year	$	190,550	$	209,468	$	253,938