Investment in Unconsolidated Affiliates (Tables)

9 Months Ended

Aug. 31, 2017

Equity Method Investments and Joint Ventures [Abstract]

Summary of Financial Information

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 nine months ended August 31, 2017 and August 31, 2016, respectively:

	Three Months Ended				Nine Months Ended
(in thousands)	August 31, 2017		August 31, 2016		August 31, 2017		August 31, 2016
Summary statements of operations information:
Revenue	$	74,549	$	24,433	$	136,442	$	52,140
Operating expenses	26,939		11,201		78,851		34,483
Net income	47,627		13,346		53,298		17,964

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

	Three Months Ended						Nine Months Ended
(in thousands)	August 31, 2017			August 31, 2016			August 31, 2017			August 31, 2016
Balance at the beginning of the period	$	785,832		$	348,588		$	475,078		$	352,070
Investments in its unconsolidated affiliates during the period	—			—			330,087			—
Equity in earnings in unconsolidated affiliates (1)	23,322			8,075			33,287			13,504
Distributions from unconsolidated affiliates	(17,169		)	(6,872		)	(46,467		)	(15,783		)
Balance at the end of the period	$	791,985		$	349,791		$	791,985		$	349,791

(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.