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Financial Services | 12 Months Ended
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Nov. 30, 2019
Segment Reporting [Abstract] |
Financial Services | Financial Services The following tables present financial information relating to our financial services reporting segment (in thousands):
| Years Ended November 30,
| 2019 |  | 2018 |  | 2017
Revenues |  |  |  |  |
Insurance commissions | $ | 8,662 |  |  | $ | 7,535 |  |  | $ | 6,991 |
Title services | 6,421 |  |  | 5,672 |  |  | 5,268 |
Interest income | 6 |  |  | — |  |  | 5 |
Total | 15,089 |  |  | 13,207 |  |  | 12,264 |
Expenses |  |  |  |  |
General and administrative | (4,333 | ) |  | (3,844 | ) |  | (3,430 | )
Operating income | 10,756 |  |  | 9,363 |  |  | 8,834 |
Equity in income of unconsolidated joint ventures | 12,230 |  |  | 7,301 |  |  | 4,234 |
Pretax income | $ | 22,986 |  |  | $ | 16,664 |  |  | $ | 13,068 |
| November 30,
| 2019 |  | 2018
Assets |  |  |
Cash and cash equivalents | $ | 1,044 |  |  | $ | 760 |
Receivables | 2,232 |  |  | 2,885 |
Investments in unconsolidated joint ventures | 14,374 |  |  | 8,594 |
Other assets (a) | 20,746 |  |  | 141 |
Total assets | $ | 38,396 |  |  | $ | 12,380 |
Liabilities |  |  |
Accounts payable and accrued expenses | $ | 2,058 |  |  | $ | 1,495 |
Total liabilities | $ | 2,058 |  |  | $ | 1,495 |
(a) | Other assets at November 30, 2019 included $20.6 million of contract assets for estimated future renewal commissions due to our adoption of ASC 606 effective December 1, 2018, as described in Note 1 – Summary of Significant Accounting Policies.
On July 9, 2019, the parent company of Stearns, our partner in KBHS, filed a voluntary bankruptcy petition in the United States Bankruptcy Court, Southern District of New York, with Stearns included as a debtor in the case. KBHS was not included in the filing. On October 24, 2019, the court confirmed Stearns’ parent company’s plan of reorganization under which, among other things, one of its largest owners took full control of the reorganized company and invested significant new equity capital in the business. The confirmed plan of reorganization became effective on November 5, 2019. During the pendency of the bankruptcy proceedings, KBHS provided mortgage banking services to our homebuyers consistent with its pre-filing performance and there was no consolidated financial statement impact.

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