Financial Services

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



	Years Ended November 30,
	2018			2017			2016
Revenues
Insurance commissions	$	7,535		$	6,991		$	6,728
Title services	5,672			5,268			4,975
Interest income	—			5			—
Total	13,207			12,264			11,703
Expenses
General and administrative	(3,844		)	(3,430		)	(3,817		)
Operating income	9,363			8,834			7,886
Equity in income (loss) of unconsolidated joint ventures	7,301			4,234			(3,420		)
Pretax income	$	16,664		$	13,068		$	4,466



	November 30,
	2018		2017
Assets
Cash and cash equivalents	$	760	$	231
Receivables	2,885		1,724
Investments in unconsolidated joint ventures (a)	8,594		10,340
Other assets	141		62
Total assets	$	12,380	$	12,357
Liabilities
Accounts payable and accrued expenses	$	1,495	$	966
Total liabilities	$	1,495	$	966


(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.