XML 1062 R39.htm IDEA: XBRL DOCUMENT v3.3.1.900
Investments in Unconsolidated Joint Ventures (Tables)
 12 Months Ended
Nov. 30, 2015
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,
 
2015
 
2014
 
2013
Revenues
$
15,322

 
$
12,538

 
$
17,446

Construction and land costs
(23,123
)
 
(10,790
)
 
(10,709
)
Other expenses, net
(3,360
)
 
(1,476
)
 
(4,042
)
Income (loss)
$
(11,161
)
 
$
272

 
$
2,695
Balance sheets of unconsolidated joint ventures
The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands):
 
November 30,
 
2015
 
2014
Assets
 
 
 
Cash
$
23,309

 
$
23,699

Receivables
7,546

 
5,106

Inventories
175,196

 
153,427

Other assets
910

 
—

Total assets
$
206,961

 
$
182,232

Liabilities and equity
 
 
 
Accounts payable and other liabilities
$
17,108

 
$
10,824

Notes payable (a)
39,064

 
—

Equity
150,789

 
171,408

Total liabilities and equity
$
206,961

 
$
182,232


(a)
In August 2015, one of our unconsolidated joint ventures entered into 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. The unconsolidated joint venture’s outstanding secured debt 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, 2015. None of our unconsolidated joint ventures had outstanding debt at November 30, 2014.
Information related investments in unconsolidated joint ventures
The following table presents additional information relating to our investments in unconsolidated joint ventures (dollars in thousands):
 
November 30,
 
2015
 
2014
Number of investments in unconsolidated joint ventures
7

 
6

Investments in unconsolidated joint ventures
$
71,558

 
$
79,441

Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts
677

 
618