Investments in Unconsolidated Joint Ventures (Tables)

12 Months Ended

Nov. 30, 2016

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):



	Years Ended November 30,
	2016			2015			2014
Revenues	$	46,389		$	15,322		$	12,538
Construction and land costs	(50,566		)	(23,123		)	(10,790		)
Other expenses, net	(4,465		)	(3,360		)	(1,476		)
Income (loss)	$	(8,642	)	$	(11,161	)	$	272

Balance sheets of unconsolidated joint ventures

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



	November 30,
	2016		2015
Assets
Cash	$	31,928	$	23,309
Receivables	882		7,546
Inventories	165,385		175,196
Other assets	629		910
Total assets	$	198,824	$	206,961
Liabilities and equity
Accounts payable and other liabilities	$	19,880	$	17,108
Notes payable (a)	44,381		39,064
Equity	134,563		150,789
Total liabilities and equity	$	198,824	$	206,961

(a)

One of our unconsolidated joint ventures has a construction loan agreement with a third-party lender to finance its land development activities that is secured by the underlying property and related project assets. Outstanding debt under the agreement is non-recourse to us and is scheduled to mature in August 2018. None of our other unconsolidated joint ventures had outstanding debt at November 30, 2016 or 2015.

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



	November 30,
	2016		2015
Number of investments in unconsolidated joint ventures	7		7
Investments in unconsolidated joint ventures	$	64,016	$	71,558
Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts	471		677