Financial Services

The following tables present financial information relating to our financial services reporting segment (in thousands):



	Years Ended November 30,
	2017			2016			2015
Revenues
Insurance commissions	$	6,991		$	6,728		$	7,137
Title services	5,268			4,975			3,905
Interest income	5			—			1
Total	12,264			11,703			11,043
Expenses
General and administrative	(3,430		)	(3,817		)	(3,711		)
Operating income	8,834			7,886			7,332
Equity in income (loss) of unconsolidated joint ventures	4,234			(3,420		)	4,292
Pretax income	$	13,068		$	4,466		$	11,624



	November 30,
	2017		2016
Assets
Cash and cash equivalents	$	231	$	914
Receivables	1,724		1,764
Investments in unconsolidated joint ventures (a)	10,340		7,771
Other assets	62		50
Total assets	$	12,357	$	10,499
Liabilities
Accounts payable and accrued expenses	$	966	$	2,003
Total liabilities	$	966	$	2,003


(a)	In 2017, we made a $5.3 million capital contribution to KBHS and received a $5.0 million distribution from HCM.

The equity in loss of unconsolidated joint ventures in 2016 reflected fewer loan originations and higher overhead costs as well as the wind down of HCM, and included an increase in HCM’s reserves for potential future losses on certain loans it originated. While we believe we will not need to record any additional charges, it is reasonably possible that we may incur further losses with respect to our equity interest in future periods as the wind down of HCM is completed. Although we are currently unable to estimate the amount or range of such losses, if any, we believe they would not have a material impact on our consolidated financial statements.

Although KB HOME Mortgage Company, which is 100% owned by us, ceased originating and selling mortgage loans in September 2005, it may be required to repurchase, or provide indemnification with respect to, an individual loan that it funded on or before August 31, 2005 and sold to an investor if the representations or warranties that it made in connection with the sale of the loan are breached, in the event of an early payment default, if the loan does not comply with the underwriting standards or other requirements of the ultimate investor or an applicable insurer, or due to a delinquency or other matters arising in connection with the loan. KB HOME Mortgage Company was not required to repurchase any loans in the past few years.