Company: HOVVB
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001753926-25-001413
Chunk: 16

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-08-29
Form: 10-Q
Item: Part I, Item 8
Chunk 16
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(In thousands, except per share data)

(Unaudited) 

July 31,

October 31,

2025

2024

ASSETS

Homebuilding:

Cash and cash equivalents

$
146,592

$
209,976

Restricted cash and cash equivalents

12,155

7,875

Inventories:

Sold and unsold homes and lots under development

1,192,251

1,195,318

Land and land options held for future development or sale

171,030

238,499

Consolidated inventory not owned

329,651

210,987

Total inventories

1,692,932

1,644,804

Investments in and advances to unconsolidated joint ventures

218,356

142,910

Receivables, deposits and notes, net

29,233

29,400

Property and equipment, net

51,573

43,431

Prepaid expenses and other assets

83,916

82,525

Total homebuilding

2,234,757

2,160,921

Financial services

173,775

203,589

Deferred tax assets, net

220,820

241,064

Total assets

$
2,629,352

$
2,605,574

LIABILITIES AND EQUITY

Homebuilding:

Nonrecourse mortgages secured by inventory, net of debt issuance costs

$
53,524

$
90,675

Accounts payable and other liabilities

425,683

433,273

Customers’ deposits

35,480

41,639

Liabilities from inventory not owned, net of debt issuance costs

236,644

140,298

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

861,922

896,218

Accrued interest

28,361

14,508

Total homebuilding

1,641,614

1,616,611

Financial services

152,375

183,135

Income taxes payable

-

5,479

Total liabilities

1,793,989

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 July 31, 2025 and October 31, 2024

135,299

135,299

 Common stock, Class A, $0.01 par value