Financial Services |
Financial Services The following tables present financial information relating to our financial services reporting segment (in thousands): | | | | | | | | | | | | | | | | | | Three Months Ended May 31, | | Six Months Ended May 31, | | 2019 | | 2018 | | 2019 | | 2018 | Revenues | | | | | | | | Insurance commissions | $ | 1,646 |
| | $ | 1,463 |
| | $ | 3,118 |
| | $ | 2,815 |
| Title services | 1,486 |
| | 1,287 |
| | 2,703 |
| | 2,353 |
| Interest income | — |
| | — |
| | 6 |
| | — |
| Total | 3,132 |
| | 2,750 |
| | 5,827 |
| | 5,168 |
| | | | | | | | | Expenses | | | | | | | | General and administrative | (1,040 | ) | | (957 | ) | | (2,064 | ) | | (1,910 | ) | Operating income | 2,092 |
| | 1,793 |
| | 3,763 |
| | 3,258 |
| Equity in income of unconsolidated joint ventures | 2,500 |
| | 1,361 |
| | 3,302 |
| | 1,780 |
| Pretax income | $ | 4,592 |
| | $ | 3,154 |
| | $ | 7,065 |
| | $ | 5,038 |
|
| | | | | | | | | | May 31, 2019 | | November 30, 2018 | Assets | | | | Cash and cash equivalents | $ | 888 |
| | $ | 760 |
| Receivables | 1,415 |
| | 2,885 |
| Investments in unconsolidated joint ventures | 8,346 |
| | 8,594 |
| Other assets (a) | 20,071 |
| | 141 |
| Total assets | $ | 30,720 |
| | $ | 12,380 |
| Liabilities | | | | Accounts payable and accrued expenses | $ | 1,451 |
| | $ | 1,495 |
| Total liabilities | $ | 1,451 |
| | $ | 1,495 |
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| | (a) | Other assets at May 31, 2019 included $19.9 million of contract assets for estimated future renewal commissions due to our adoption of ASC 606 effective December 1, 2018, as described in Note 1 – Basis of Presentation and Significant Accounting Policies. |
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