v3.26.1
Note 18 - Investments in Unconsolidated Homebuilding and Land Development Joint Ventures (Tables)
6 Months Ended
Apr. 30, 2026
Investments in Unconsolidated Homebuilding and Land Development Joint Ventures  
Equity Method Investments [Table Text Block]

(In thousands)

April 30, 2026

 

October 31, 2025

Assets:

 

 

 

 

 

Cash and cash equivalents

$

46,063

 

$

104,066

Inventories

 

550,260

 

 

487,965

Other assets

 

8,073

 

 

128,385

Total assets

$

604,396

 

$

720,416

Liabilities and equity:

 

 

 

 

 

Accounts payable and accrued liabilities

$

76,422

 

$

305,153

Notes payable

 

102,807

 

 

121,948

Total liabilities

 

179,229

 

 

427,101

Equity of:

 

 

 

 

 

Hovnanian Enterprises, Inc.

 

144,800

 

 

160,903

Others

 

280,367

 

 

132,412

Total equity

 

425,167

 

 

293,315

Total liabilities and equity

$

604,396

 

$

720,416

Debt to capitalization ratio

 

19%

 

 

29%

 

Three Months Ended April 30,

(In thousands)

 

2026

 

 

2025

Revenues

$

127,241

 

$

146,139

Cost of sales and expenses

 

(116,297)

 

 

(133,957)

Joint venture net income

$

10,944

 

$

12,182

Our share of net (loss) income

$

(1,106)

 

$

 9,043

 

Six Months Ended April 30,

(In thousands)

 

2026

 

 

2025

Revenues

$

200,951

 

$

280,052

Cost of sales and expenses

 

(185,575)

 

 

(254,215)

Joint venture net income

$

15,376

 

$

25,837

Our share of net income

$

2,334

 

$

18,248

Purchase Price Allocation Presented in Condensed Consolidated Balance Sheets [Table Text Block]

(In thousands)

January 1, 2026

Cash, cash equivalents and restricted cash

$

35,300

Property and equipment, net

 

469

Sold and unsold homes and lots under development

 

 82,887

Land and land options held for future development or sale

 

5,379

Receivables, deposits and notes, net

 

 16,315

Prepaid expenses and other assets

 

7,682

Accounts payable and accrued liabilities

 

(28,430)

Customers' deposits

 

(132,358)

Net liabilities assumed

 

(12,756)

Goodwill

 

31,705

Noncontrolling interests

 

(1,895)

Gain on consolidation

 

(9,474)

Purchase price consideration

$

7,580