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Investments in Unconsolidated Joint Ventures (Tables)
12 Months Ended
Nov. 30, 2017
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,
 
2017
 
2016
 
2015
Revenues
$
47,431

 
$
46,389

 
$
15,322

Construction and land costs
(47,459
)
 
(50,566
)
 
(23,123
)
Other expenses, net
(4,749
)
 
(4,465
)
 
(3,360
)
Loss
$
(4,777
)
 
$
(8,642
)
 
$
(11,161
)
Balance sheets of unconsolidated joint ventures
The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands):
 
November 30,
 
2017
 
2016
Assets
 
 
 
Cash
$
21,193

 
$
31,928

Receivables
688

 
882

Inventories
145,519

 
165,385

Other assets
1,398

 
629

Total assets
$
168,798

 
$
198,824

Liabilities and equity
 
 
 
Accounts payable and other liabilities
$
25,426

 
$
19,880

Notes payable (a)
20,040

 
44,381

Equity
123,332

 
134,563

Total liabilities and equity
$
168,798

 
$
198,824


(a)
As of November 30, 2017 and 2016, two and one of our unconsolidated joint ventures, respectively, had separate construction loan agreements with different third-party lenders to finance their respective land development activities. The outstanding debt under these agreements is secured by the corresponding underlying property and related project assets and is non-recourse to us. Of this outstanding secured debt at November 30, 2017, $19.8 million is scheduled to mature in August 2018 and the remainder is scheduled to mature in February 2020. None of our other unconsolidated joint ventures had outstanding debt at November 30, 2017 or 2016.
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,
 
 
2017
 
2016
Number of investments in unconsolidated joint ventures
 
7

 
7

Investments in unconsolidated joint ventures
 
$
64,794

 
$
64,016

Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts
 
377

 
471