11. Other Non-current Assets

At May 31, 2019 and 2018, other non-current assets consisted of the following:


	May 31,
	2019		2018
Contract assets	$	17.0	$	39.0
Cash surrender value of life insurance		15.6		16.8
Assets under deferred compensation plan		10.4		35.7
Investments in joint ventures		12.3		7.6
License fees		7.2		10.6
Other		15.0		9.2
	$	77.5	$	118.9

Investments in Joint Ventures

During fiscal 2018, we sold interests in two aircraft joint ventures, which were accounted for under the equity method of accounting. We received cash proceeds of $7.3 million and recognized a gain on the sale of $0.4 million.

Under the terms of servicing agreements with certain of our aircraft joint ventures, we provide administrative services and technical advisory services, including aircraft evaluations, oversight and logistical support of the maintenance process and records management. We also provide evaluation and inspection services prior to the purchase of an aircraft and remarketing services with respect to the divestiture of aircraft by the joint ventures. During fiscal 2019, 2018, and 2017, we were paid $0.4 million, $0.4 million, and $1.2 million, respectively, for such services.

Our investments in joint ventures includes $6.3 million for our 40% ownership interest in our Indian joint venture with Indamer Aviation to develop and operate an airframe maintenance facility in India. The investment balance includes $4.8 million related to the guarantee liability recognized in conjunction with our guarantee of 40% of the Indian joint venture’s debt. The Indian joint venture is accounted for using the equity method. In addition, each of the partners in the Indian joint venture have a loan to the joint venture proportionate to their equity ownership. We have a loan to the joint venture of $2.8 million as of May 31, 2019.