Financial Services |
Financial Services The following tables present financial information relating to our financial services reporting segment (in thousands): | | | | | | | | | | | | | | | | | | Three Months Ended August 31, | | Nine Months Ended August 31, | | 2020 | | 2019 | | 2020 | | 2019 | Revenues | | | | | | | | Insurance commissions | $ | 2,150 |
| | $ | 2,224 |
| | $ | 6,133 |
| | $ | 5,342 |
| Title services | 1,715 |
| | 1,707 |
| | 4,975 |
| | 4,410 |
| Interest income | — |
| | — |
| | — |
| | 6 |
| Total | 3,865 |
| | 3,931 |
| | 11,108 |
| | 9,758 |
| Expenses | | | | | | | | General and administrative | (1,056 | ) | | (1,003 | ) | | (2,901 | ) | | (3,067 | ) | Operating income | 2,809 |
| | 2,928 |
| | 8,207 |
| | 6,691 |
| Equity in income of unconsolidated joint ventures | 6,855 |
| | 3,716 |
| | 14,874 |
| | 7,018 |
| Pretax income | $ | 9,664 |
| | $ | 6,644 |
| | $ | 23,081 |
| | $ | 13,709 |
|
| | | | | | | | | | August 31, 2020 | | November 30, 2019 | Assets | | | | Cash and cash equivalents | $ | 1,093 |
| | $ | 1,044 |
| Receivables | 1,414 |
| | 2,232 |
| Investments in unconsolidated joint ventures | 10,298 |
| | 14,374 |
| Other assets (a) | 21,956 |
| | 20,746 |
| Total assets | $ | 34,761 |
| | $ | 38,396 |
| Liabilities | | | | Accounts payable and accrued expenses | $ | 2,065 |
| | $ | 2,058 |
| Total liabilities | $ | 2,065 |
| | $ | 2,058 |
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(a) Other assets at August 31, 2020 and November 30, 2019 included $21.6 million and $20.6 million, respectively, of contract assets for estimated future renewal commissions related to then-existing insurance policies.
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