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Investments in Unconsolidated Joint Ventures (Tables)
9 Months Ended
Aug. 31, 2022
Home Building [Member]  
Schedule of Equity Method Investments [Line Items]  
Statements of Operations of Unconsolidated Joint Ventures The following table presents combined condensed information from the statements of operations for our homebuilding unconsolidated joint ventures (in thousands):
 Three Months Ended August 31,Nine Months Ended August 31,
 2022202120222021
Revenues$1,293 $1,979 $5,251 $14,818 
Construction and land costs(801)(1,453)(3,872)(12,397)
Other expense, net(666)(591)(2,014)(2,000)
Income (loss)$(174)$(65)$(635)$421 
Balance Sheets of Unconsolidated Joint Ventures
The following table presents combined condensed balance sheet information for our homebuilding unconsolidated joint ventures (in thousands):
August 31,
2022
November 30,
2021
Assets
Cash and cash equivalents$17,594 $15,731 
Receivables
3,279 795 
Inventories
111,067 64,034 
Other assets
680 50 
Total assets$132,620 $80,610 
Liabilities and equity
Accounts payable and other liabilities$13,556 $12,285 
Notes payable (a)30,735 — 
Equity88,329 68,325 
Total liabilities and equity$132,620 $80,610 
(a)    As of August 31, 2022, one of our unconsolidated joint ventures had borrowings outstanding under a revolving line of credit it entered into with a third-party lender in April 2022 to finance its land acquisition, development and construction activities. Borrowings under this line of credit, which has a maximum commitment of $62.0 million, are secured by the underlying property and related project assets. The line of credit is scheduled to mature on April 19, 2026, unless extended or terminated pursuant to its applicable terms. None of our other unconsolidated joint ventures had outstanding debt at August 31, 2022 or November 30, 2021.
Financial Service [Member]  
Schedule of Equity Method Investments [Line Items]  
Statements of Operations of Unconsolidated Joint Ventures The following table presents combined condensed information from the statements of operations for our financial services unconsolidated joint ventures, primarily comprised of KBHS (in thousands):
 Three Months Ended August 31,Nine Months Ended August 31,
 2022202120222021
Revenues$19,857 $31,560 $100,057 $96,930 
Expenses(19,601)(20,712)(59,888)(60,085)
Income$256 $10,848 $40,169 $36,845 
Balance Sheets of Unconsolidated Joint Ventures
The following table presents combined condensed balance sheet information for our financial services unconsolidated joint ventures, primarily comprised of KBHS (in thousands):
August 31,
2022
November 30,
2021
Assets
Cash and cash equivalents$21,093 $23,916 
Mortgage loans held for sale138,253 234,669 
Other assets61,094 46,218 
Total assets$220,440 $304,803 
Liabilities and equity
Accounts payable and other liabilities$16,429 $18,375 
Funding facilities152,079 253,791 
Equity51,932 32,637 
Total liabilities and equity$220,440 $304,803