Investments in Unconsolidated Joint Ventures (Tables)

3 Months Ended

Feb. 28, 2019

Equity Method Investments and Joint Ventures [Abstract]

Statements of Operations of Unconsolidated Joint Ventures

The following table presents combined condensed information from the statements of operations of our unconsolidated joint ventures (in thousands):



	Three Months Ended February 28,
	2019			2018
Revenues	$	12,192		$	8,797
Construction and land costs	(12,220		)	(8,816		)
Other expense, net	(628		)	(1,372		)
Loss	$	(656	)	$	(1,391	)

Balance Sheets of Unconsolidated Joint Ventures

The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands):



	February 28, 2019		November 30, 2018
Assets
Cash	$	16,598	$	18,567
Inventories	127,377		131,074
Other assets	446		530
Total assets	$	144,421	$	150,171
Liabilities and equity
Accounts payable and other liabilities	$	11,254	$	11,374
Notes payable (a)	22,045		17,956
Equity	111,122		120,841
Total liabilities and equity	$	144,421	$	150,171

(a)

As of February 28, 2019 and November 30, 2018, one of our unconsolidated joint ventures had a construction loan agreement with a third-party lender to finance its land development activities, with the outstanding debt secured by the underlying property and related project assets and non-recourse to us. All of the outstanding secured debt at February 28, 2019 is scheduled to mature in February 2020. None of our other unconsolidated joint ventures had outstanding debt at February 28, 2019 or November 30, 2018

The following table presents additional information relating to our investments in unconsolidated joint ventures (dollars in thousands):



	February 28, 2019		November 30, 2018
Number of investments in unconsolidated joint ventures	6		6
Investments in unconsolidated joint ventures	$	57,134	$	61,960
Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts	25		36