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Investments in Unconsolidated Joint Ventures (Tables)
6 Months Ended
May 31, 2016
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):
 
Six Months Ended May 31,
 
Three Months Ended May 31,
 
2016
 
2015
 
2016
 
2015
Revenues
$
21,852

 
$
6,420

 
$
18,514

 
$
3,210

Construction and land costs
(25,996
)
 
(13,992
)
 
(18,501
)
 
(10,249
)
Other expense, net
(2,591
)
 
(1,411
)
 
(1,468
)
 
(715
)
Loss
$
(6,735
)
 
$
(8,983
)
 
$
(1,455
)
 
$
(7,754
)
Balance Sheets of Unconsolidated Joint Ventures
The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands):
 
May 31,
2016
 
November 30,
2015
Assets
 
 
 
Cash
$
23,745

 
$
23,309

Receivables
1,682

 
7,546

Inventories
168,119

 
175,196

Other assets
776

 
910

Total assets
$
194,322

 
$
206,961

 
 
 
 
 
May 31,
2016
 
November 30,
2015
Liabilities and equity
 
 
 
Accounts payable and other liabilities
$
12,304

 
$
17,108

Notes payable (a)
45,280

 
39,064

Equity
136,738

 
150,789

Total liabilities and equity
$
194,322

 
$
206,961


(a)
One of our unconsolidated joint ventures has 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. Outstanding debt under the agreement is non-recourse to us and is scheduled to mature in August 2018. None of our other unconsolidated joint ventures had outstanding debt at May 31, 2016 or November 30, 2015
Information Related Investments in Unconsolidated Joint Ventures
The following table presents information relating to our investments in unconsolidated joint ventures (dollars in thousands):
 
May 31,
2016
 
November 30,
2015
Number of investments in unconsolidated joint ventures
7

 
7

Investments in unconsolidated joint ventures
$
65,213

 
$
71,558

Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts
574

 
677