Company: HOVVB
Filing Date: 2025-05-30
Form Type: 10-Q
Source: 0001753926-25-000907
Chunk: 17

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-05-30
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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(In thousands, except per share data)

(Unaudited) 

April 30, 

October 31, 

2025 

2024 

ASSETS 

Homebuilding: 

Cash and cash equivalents 
 
$
73,980

$
209,976

Restricted cash and cash equivalents 

9,031

7,875

Inventories: 

Sold and unsold homes and lots under development 

1,212,870

1,195,318

Land and land options held for future development or sale 

263,363

238,499

Consolidated inventory not owned 

267,732

210,987

Total inventories 

1,743,965

1,644,804

Investments in and advances to unconsolidated joint ventures 

183,461

142,910

Receivables, deposits and notes, net 

24,712

29,400

Property and equipment, net 

47,730

43,431

Prepaid expenses and other assets 

84,058

82,525

Total homebuilding 

2,166,937

2,160,921

Financial services 

161,619

203,589

Deferred tax assets, net 

224,543

241,064

Total assets 
 
$
2,553,099

$
2,605,574

LIABILITIES AND EQUITY 

Homebuilding: 

Nonrecourse mortgages secured by inventory, net of debt issuance costs 
 
$
78,092

$
90,675

Accounts payable and other liabilities 

418,669

433,273

Customers’ deposits 

45,662

41,639

Liabilities from inventory not owned, net of debt issuance costs 

173,098

140,298

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

864,280

896,218

Accrued interest 

12,355

14,508

Total homebuilding 

1,592,156

1,616,611

Financial services 

140,573

183,135

Income taxes payable 

-

5,479

Total liabilities 

1,732,729

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 April 30, 2025 and October 31, 2024 

135,299

135,299

 Common stock, Class A