Investment in Unconsolidated Affiliates (Tables)

6 Months Ended

May 31, 2017

Equity Method Investments and Joint Ventures [Abstract]

Summary of Financial Information

The following table summarizes the activity of the Partnership’s investments in its unconsolidated affiliates during each of the three and six months ended May 31, 2017 and May 31, 2016, respectively:

	Three Months Ended						Six Months Ended
(in thousands)	May 31, 2017			May 31, 2016			May 31, 2017			May 31, 2016
Balance at the beginning of the period	$	788,000		$	346,197		$	475,078		$	352,070
Investments in its unconsolidated affiliates during the period	60			—			330,087			—
Equity in earnings in unconsolidated affiliates (1)	9,359			5,024			9,965			5,429
Distributions from unconsolidated affiliates	(11,587		)	(2,633		)	(29,298		)	(8,911		)
Balance at the end of the period	$	785,832		$	348,588		$	785,832		$	348,588

(1) The net income (loss) used to determine the Partnership’s equity in earnings of unconsolidated affiliates reflects adjustments pursuant to the equity method of accounting, including the amortization of basis differences resulting from the Partnership’s proportionate share of certain equity method investees’ net assets exceeding their carrying values.  

The following table presents summarized financial information of SG2 Holdings, North Star Holdings, Lost Hills Blackwell Holdings, Henrietta Holdings and Stateline Holdings as derived from the unaudited condensed consolidated financial statements of such entities for the each of the three and six months ended May 31, 2017 and May 31, 2016, respectively:

	Three Months Ended				Six Months Ended
(in thousands)	May 31, 2017		May 31, 2016		May 31, 2017		May 31, 2016
Summary statements of operations information:
Revenue	$	42,277	$	16,101	$	61,893	$	24,751
Operating expenses	25,519		9,844		51,912		20,769
Net income	13,430		6,382		5,671		4,212