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Investments in Unconsolidated Joint Ventures (Tables)
6 Months Ended
May 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 May 31,Six Months Ended May 31,
 2022202120222021
Revenues$1,108 $3,148 $3,958 $12,839 
Construction and land costs(772)(2,819)(3,071)(10,944)
Other expense, net(918)(530)(1,348)(1,409)
Income (loss)$(582)$(201)$(461)$486 
Balance Sheets of Unconsolidated Joint Ventures
The following table presents combined condensed balance sheet information for our homebuilding unconsolidated joint ventures (in thousands):
May 31,
2022
November 30,
2021
Assets
Cash and cash equivalents$18,884 $15,731 
Receivables
894 795 
Inventories
105,734 64,034 
Other assets
726 50 
Total assets$126,238 $80,610 
Liabilities and equity
Accounts payable and other liabilities$11,871 $12,285 
Notes payable (a)
29,114 — 
Equity85,253 68,325 
Total liabilities and equity$126,238 $80,610 
(a)    As of May 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 May 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 May 31,Six Months Ended May 31,
 2022202120222021
Revenues$50,224 $34,298 $80,200 $65,370 
Expenses(20,607)(20,240)(40,287)(39,373)
Income$29,617 $14,058 $39,913 $25,997 
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):
May 31,
2022
November 30,
2021
Assets
Cash and cash equivalents$18,867 $23,916 
Mortgage loans held for sale189,255 234,669 
Other assets68,493 46,218 
Total assets$276,615 $304,803 
Liabilities and equity
Accounts payable and other liabilities$18,680 $18,375 
Funding facilities203,486 253,791 
Equity54,449 32,637 
Total liabilities and equity$276,615 $304,803