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Investments in Unconsolidated Joint Ventures (Tables) | 12 Months Ended
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Nov. 30, 2022
Homebuilding |
Schedule of Equity Method Investments [Line Items] |
Schedule of 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):
| Years Ended November 30,
| 2022 |  | 2021 |  | 2020
Revenues | $ | 5,251 |  |  | $ | 14,818 |  |  | $ | 127,270 |
Construction and land costs | (3,875) |  |  | (12,398) |  |  | (93,162) |
Other expenses, net | (2,935) |  |  | (2,640) |  |  | (8,850) |
Income (loss) | $ | (1,559) |  |  | $ | (220) |  |  | $ | 25,258 |
Schedule of Balance sheets of unconsolidated joint ventures | The following table presents combined condensed balance sheet information for our homebuilding unconsolidated joint ventures (in thousands):
| November 30, |  |
| 2022 |  | 2021 |  |
Assets |  |  |  |  |
Cash | $ | 14,066 |  |  | $ | 15,731 |  |  |
Receivables | 3,394 |  |  | 795 |  |  |
Inventories | 114,465 |  |  | 64,034 |  |  |
Other assets | 633 |  |  | 50 |  |  |
Total assets | $ | 132,558 |  |  | $ | 80,610 |  |  |
Liabilities and equity |  |  |  |  |
Accounts payable and other liabilities | $ | 8,369 |  |  | $ | 12,285 |  |  |
Notes payable (a) | 34,396 |  |  | — |  |  |
Equity | 89,793 |  |  | 68,325 |  |  |
Total liabilities and equity | $ | 132,558 |  |  | $ | 80,610 |  |  |
(a) As of November 30, 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 November 30, 2022 or 2021.
Financial service |
Schedule of Equity Method Investments [Line Items] |
Schedule of 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):
| Years Ended November 30,
| 2022 |  | 2021 |  | 2020
Revenues | $ | 115,173 |  |  | $ | 126,398 |  |  | $ | 108,417 |
Expenses | (73,573) |  |  | (79,221) |  |  | (66,109) |
Income | $ | 41,600 |  |  | $ | 47,177 |  |  | $ | 42,308 |
Schedule of 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):
| November 30,
| 2022 |  | 2021
Assets |  |  |
Cash and cash equivalents | $ | 28,120 |  |  | $ | 23,916 |
Mortgage loans held for sale | 250,572 |  |  | 234,669 |
Other assets | 33,176 |  |  | 14,060 |
Total assets | $ | 311,868 |  |  | $ | 272,645 |
Liabilities and equity |  |  |
Accounts payable and other liabilities | $ | 15,590 |  |  | $ | 18,375 |
Funding facilities | 242,944 |  |  | 221,633 |
Equity | 53,334 |  |  | 32,637 |
Total liabilities and equity | $ | 311,868 |  |  | $ | 272,645 |

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