$HOV
HOVNANIAN ENTERPRISES INC

2019 Q3 Form 10-Q Financial Statement

#000143774919017939 Filed on September 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q3
Revenue $482.0M
YoY Change 5.55%
Cost Of Revenue $402.4M
YoY Change 7.36%
Gross Profit $79.60M
YoY Change -2.81%
Gross Profit Margin 16.51%
Selling, General & Admin $58.50M
YoY Change 8.53%
% of Gross Profit 73.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.000M
YoY Change 25.0%
% of Gross Profit 1.26%
Operating Expenses $59.10M
YoY Change 8.64%
Operating Profit $20.50M
YoY Change -25.45%
Interest Expense -$27.60M
YoY Change 19.48%
% of Operating Profit -134.63%
Other Income/Expense, Net
YoY Change
Pretax Income -$7.064M
YoY Change -9156.41%
Income Tax $537.0K
% Of Pretax Income
Net Earnings -$7.601M
YoY Change 640.84%
Net Earnings / Revenue -1.58%
Basic Earnings Per Share -$1.27
Diluted Earnings Per Share -$1.27
COMMON SHARES
Basic Shares Outstanding 5.971M
Diluted Shares Outstanding 5.971M

Balance Sheet

Concept 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $83.60M
YoY Change -62.33%
Cash & Equivalents $124.8M
Short-Term Investments
Other Short-Term Assets $43.50M
YoY Change 4.82%
Inventory $1.355B
Prepaid Expenses
Receivables $32.50M
Other Receivables $0.00
Total Short-Term Assets $1.515B
YoY Change 7.39%
LONG-TERM ASSETS
Property, Plant & Equipment $20.50M
YoY Change 1.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $134.1M
YoY Change 27.96%
Other Assets $16.90M
YoY Change -33.2%
Total Long-Term Assets $280.8M
YoY Change 8.74%
TOTAL ASSETS
Total Short-Term Assets $1.515B
Total Long-Term Assets $280.8M
Total Assets $1.795B
YoY Change 7.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $159.3M
YoY Change 21.6%
Accrued Expenses $55.50M
YoY Change 7.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $256.7M
YoY Change 15.06%
LONG-TERM LIABILITIES
Long-Term Debt $1.693B
YoY Change 2.5%
Other Long-Term Liabilities $338.4M
YoY Change 15.1%
Total Long-Term Liabilities $2.032B
YoY Change 4.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $256.7M
Total Long-Term Liabilities $2.032B
Total Liabilities $2.288B
YoY Change 5.5%
SHAREHOLDERS EQUITY
Retained Earnings -$1.224B
YoY Change -0.48%
Common Stock $710.5M
YoY Change 0.38%
Preferred Stock
YoY Change
Treasury Stock (at cost) $115.4M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity -$493.6M
YoY Change
Total Liabilities & Shareholders Equity $1.795B
YoY Change 7.6%

Cashflow Statement

Concept 2019 Q3
OPERATING ACTIVITIES
Net Income -$7.601M
YoY Change 640.84%
Depreciation, Depletion And Amortization $1.000M
YoY Change 25.0%
Cash From Operating Activities -$59.20M
YoY Change 122.56%
INVESTING ACTIVITIES
Capital Expenditures -$1.100M
YoY Change 10.0%
Acquisitions
YoY Change
Other Investing Activities -$4.400M
YoY Change -21.43%
Cash From Investing Activities -$5.600M
YoY Change -15.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 21.00M
YoY Change 89.19%
NET CHANGE
Cash From Operating Activities -59.20M
Cash From Investing Activities -5.600M
Cash From Financing Activities 21.00M
Net Change In Cash -43.80M
YoY Change 98.19%
FREE CASH FLOW
Cash From Operating Activities -$59.20M
Capital Expenditures -$1.100M
Free Cash Flow -$58.10M
YoY Change 126.95%

Facts In Submission

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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Period End Date
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dei Document Type
DocumentType
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dei Entity Central Index Key
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dei Entity Current Reporting Status
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dei Entity Emerging Growth Company
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dei Entity Filer Category
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dei Entity Registrant Name
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="; text-indent: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="vertical-align: top;"> <td style="width: 18pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.</div></div></div> </td> <td> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Recent Accounting Pronouncements</div></div> </td> </tr> </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 15pt;text-align:left;text-indent:46.2pt;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 45pt;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2014, </div>the Financial Accounting Standards Board (&#x201c;FASB&#x201d;) issued ASU&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> &#x201c;Revenue from Contracts with Customers&#x201d; (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>), (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09&#x201d;</div>). ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> requires entities to recognize revenue that represents the transfer of promised goods or services to customers in an amount equivalent to the consideration to which the entity expects to be entitled to in exchange for those goods or services. The following steps should be applied to determine this amount: (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) identify the contract(s) with a customer; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) identify the performance obligations in the contract; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) determine the transaction price; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>) allocate the transaction price to the performance obligations in the contract; and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div>) recognize revenue when (or as) the entity satisfies a performance obligation. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> supersedes the revenue recognition requirements in ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">605,</div> &#x201c;Revenue Recognition,&#x201d; and most industry-specific guidance in the Accounting Standards Codification. The FASB has also issued a number of updates to this standard. The standard was effective for us for annual and interim periods beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 1, 2018 </div>and we applied the modified retrospective method of adoption. The implementation did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> result in any significant changes to our business processes, systems, or internal controls, or have a material impact on our Condensed Consolidated Financial Statements.&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;text-indent:45pt;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 45pt;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2016, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02,</div> &#x201c;Leases (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">842</div>)&#x201d; (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02&#x201d;</div>), which provides guidance for accounting for leases. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> requires lessees to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months regardless of the lease classification. The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight line basis over the term of the lease. Accounting for lessors remains largely unchanged from current GAAP. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> is effective for the Company beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 1, 2019. </div>Early adoption is permitted. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 2018, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div> &#x201c;Codification Improvements to Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">842,</div> Leases&#x201d; (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10&#x201d;</div>) and ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> &#x201c;Leases (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">842</div>) Targeted Improvements&#x201d; (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11&#x201d;</div>). ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div> provides certain amendments that affect narrow aspects of the guidance issued in ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02.</div> ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> allows all entities adopting ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> to choose an additional (and optional) transition method of adoption, under which an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> also allows lessors to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> separate nonlease components from the associated&nbsp;lease component if certain conditions are met. We are currently evaluating both the method and the impact of adopting this guidance on our Condensed Consolidated Financial Statements.</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"></div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 45pt;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 2018, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> &#x201c;Codification Improvements&#x201d; (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09&#x201d;</div>). ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> provides amendments to a wide variety of topics in the FASB&#x2019;s Accounting Standards Codification, which applies to all reporting entities within the scope of the affected accounting guidance. The transition and effective date guidance are&nbsp;based on the facts and circumstances of each amendment. Some of the amendments in ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> require transition guidance and were&nbsp;effective upon issuance of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09.</div> However, many of the amendments do have transition guidance with effective dates for annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2018. </div>We are currently evaluating the potential impact of adopting the applicable guidance on our Condensed Consolidated Financial Statements.</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 45pt;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2018, </div>the FASB issued&nbsp;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,</div> &#x201c;Fair Value Measurement (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">820</div>) - Disclosure Framework&#x201d; (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13&#x201d;</div>), which improves the disclosure requirements for fair value measurements. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div> is effective for us beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2020.</div> Early adoption is permitted for any removed or modified disclosures. We are currently evaluating the potential impact of adopting this guidance on our Condensed Consolidated Financial Statements.</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 45pt;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2018, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div> &#x201c;Intangibles-Goodwill and Other-Internal-Use Software (Subtopic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">350</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40</div>): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract&#x201d; (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15&#x201d;</div>). ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div> aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div> is effective for us beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 1, 2020. </div>Early adoption is permitted. We are&nbsp;currently evaluating the potential impact of adopting this guidance on our Condensed Consolidated Financial Statements.</div></div>
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CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
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us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Equity Method Investment Dividends Or Distributions
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us-gaap Equity Method Investment Other Than Temporary Impairment
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us-gaap Gain Loss On Disposition Of Assets
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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CY2019Q3 us-gaap Gains Losses On Extinguishment Of Debt
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CY2018Q3 us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Impairment Of Real Estate
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us-gaap Impairment Of Real Estate
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CY2018Q3 us-gaap Impairment Of Real Estate
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CY2018Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2019Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3742000
CY2018Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2019Q3 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Taxes Paid Net
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Customer Deposits
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us-gaap Increase Decrease In Customer Deposits
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CY2018Q3 us-gaap Increase Decrease In Interest Payable Net
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us-gaap Increase Decrease In Interest Payable Net
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us-gaap Increase Decrease In Interest Payable Net
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CY2018Q4 us-gaap Liabilities And Stockholders Equity
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CY2019Q3 us-gaap Minority Interest
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us-gaap Increase Decrease In Other Operating Assets
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CY2018Q3 us-gaap Interest Paid
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us-gaap Interest Paid
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us-gaap Interest Paid
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CY2018Q3 us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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CY2019Q3 us-gaap Interest Payable Current And Noncurrent
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CY2018Q4 us-gaap Interest Payable Current And Noncurrent
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CY2019Q3 us-gaap Liabilities
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CY2018Q4 us-gaap Liabilities
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CY2018Q4 us-gaap Minority Interest
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CY2019Q2 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
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CY2018Q2 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
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CY2018Q4 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
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CY2017Q4 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
MortgageLoansOnRealEstateWritedownOrReserveAmount1
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CY2019Q3 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
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CY2018Q3 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
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CY2019Q3 us-gaap Mortgages Held For Sale Fair Value Disclosure
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 45pt;">Reclassifications -<div style="display: inline; font-style: italic;"> </div>Effective <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 31, 2018 </div>we early adopted Accounting Standards Update (&#x201c;ASU&#x201d;) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> &#x201c;Statement of Cash Flows (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230</div>): Restricted Cash&#x201d; (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18&#x201d;</div>). As a result, restricted cash amounts are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer shown within the operating and investing activities as these balances are now included in the beginning and ending cash balances in our Condensed Consolidated Statements of Cash Flows. The adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> also resulted in the reclassification of restricted cash in operating and investing activities of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.0</div>&nbsp;million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$23.4</div> million, respectively, for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 31, 2018. </div>These amounts are now included in the beginning and ending cash balances for the respective periods. See also the reconciliation of cash, cash equivalents and restricted cash on the Condensed Consolidated Statements of Cash Flows.</div></div></div></div></div></div>
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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us-gaap Proceeds From Minority Shareholders
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us-gaap Proceeds From Notes Payable
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us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
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us-gaap Proceeds From Secured Notes Payable
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us-gaap Proceeds From Unsecured Notes Payable
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us-gaap Proceeds From Unsecured Notes Payable
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CY2018Q2 us-gaap Product Warranty Accrual
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CY2018Q4 us-gaap Product Warranty Accrual
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CY2019Q3 us-gaap Product Warranty Accrual
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CY2018Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
115428000
CY2019Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3657000
CY2018Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3765000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
13768000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
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us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
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us-gaap Profit Loss
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us-gaap Profit Loss
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CY2019Q1 us-gaap Profit Loss
ProfitLoss
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CY2019Q2 us-gaap Profit Loss
ProfitLoss
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CY2019Q3 us-gaap Profit Loss
ProfitLoss
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CY2018Q1 us-gaap Profit Loss
ProfitLoss
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CY2019Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
900000
CY2018Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-2314000
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
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CY2018Q2 us-gaap Profit Loss
ProfitLoss
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CY2018Q3 us-gaap Profit Loss
ProfitLoss
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CY2019Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
61000
CY2018Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
39000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
139000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
107000
CY2019Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
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CY2018Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
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CY2018Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
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CY2017Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
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CY2019Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
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CY2018Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
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CY2019Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
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CY2018Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
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us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
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us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
45080000
CY2019Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
42104000
CY2018Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
40438000
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
122340000
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
121617000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
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us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
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us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
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CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1224166000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2019Q3 us-gaap Revenues
Revenues
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CY2018Q3 us-gaap Revenues
Revenues
456712000
us-gaap Revenues
Revenues
1303326000
us-gaap Revenues
Revenues
1376422000
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-493071000
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-453504000
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-500631000
CY2019Q3 us-gaap Treasury Stock Value
TreasuryStockValue
115360000
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
115360000
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5971000
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5947000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5964000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5935000

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