
	May 31,
	2020		2019
Contract assets	$	22.4	$	17.0
Investments in joint ventures		17.8		12.3
Cash surrender value of life insurance		15.6		15.6
Assets under deferred compensation plan		13.1		10.4
License fees		4.1		7.2
Other		8.5		15.0
	$	81.5	$	77.5

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 2020, 2019, and 2018, we were paid $1.6 million, $0.4 million, and $0.4 million, respectively, for such services.

Our investments in joint ventures include $12.6 million for our 40% ownership interest in a joint venture in India to develop and operate an airframe maintenance facility. Facility construction is expected to be completed in fiscal 2021.

The investment balance as of May 31, 2020 includes $8.2 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 its equity ownership. Our loan to the Indian joint venture under this arrangement was $3.0 million as of May 31, 2020.

In the fourth quarter of fiscal 2020, we decided to exit our joint venture which operates a landing gear wheel and brake repair and overhaul facility in Malaysia. In conjunction with the decision to exit the joint venture, we recognized an impairment charge of $1.9 million reflecting the anticipated net proceeds from our investment. The impairment charge is reported in Earnings (Loss) from joint ventures on the Consolidated Statement of Income.

In June 2011, we entered into a ten-year agreement with Unison Industries (“Unison”) to be the exclusive worldwide aftermarket distributor for Unison’s electrical components, sensors, switches and other systems for aircraft and industrial uses. In June 2020, we entered into an extension and expansion of our agreement with Unison including a new termination date of December 31, 2031, an initial $25.0 million license fee paid in June 2020 to Unison, and annual license fees at a fixed percentage of our net sales of Unison products. The June 2020 payment of $25.0 million was capitalized and will be amortized on a straight-line basis over the term of the new agreement.