Company: HOVVB
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0001753926-25-000367
Chunk: 19

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-02-28
Form: 10-Q
Item: Part I, Item 8
Chunk 19
---
(In thousands, except per share data)

(Unaudited) 

January 31, 

October 31, 

2025 

2024 

ASSETS 

Homebuilding: 

Cash and cash equivalents 
 
$
94,258

$
209,976

Restricted cash and cash equivalents 

8,449

7,875

Inventories: 

Sold and unsold homes and lots under development 

1,143,376

1,195,318

Land and land options held for future development or sale 

286,186

238,499

Consolidated inventory not owned 

236,928

210,987

Total inventories 

1,666,490

1,644,804

Investments in and advances to unconsolidated joint ventures 

172,679

142,910

Receivables, deposits and notes, net 

74,221

29,400

Property and equipment, net 

44,820

43,431

Prepaid expenses and other assets 

79,235

82,525

Total homebuilding 

2,140,152

2,160,921

Financial services 

162,996

203,589

Deferred tax assets, net 

230,127

241,064

Total assets 
 
$
2,533,275

$
2,605,574

LIABILITIES AND EQUITY 

Homebuilding: 

Nonrecourse mortgages secured by inventory, net of debt issuance costs 
 
$
87,633

$
90,675

Accounts payable and other liabilities 

360,436

433,273

Customers’ deposits 

42,551

41,639

Liabilities from inventory not owned, net of debt issuance costs 

156,274

140,298

Senior notes and credit facilities (net of discounts, premiums and debt issuance costs) 

893,706

896,218

Accrued interest 

32,549

14,508

Total homebuilding 

1,573,149

1,616,611

Financial services 

142,342

183,135

Income taxes payable 

6,358

5,479

Total liabilities 

1,721,849

1,805,225

Stockholders' equity: 

 Preferred stock, $0.01 par value - authorized 100,000 shares; issued and outstanding 5,600 shares with a liquidation preference of $140,000 at January 31, 2025 and October 31, 2024 

135,299

135,299

 Common stock