Financial Services (Tables)

12 Months Ended

Nov. 30, 2020

Financial information relating to company reporting segments

The following tables present financial information relating to our homebuilding reporting segments (in thousands):


	Years Ended November 30,
	2020		2019		2018
Revenues:
West Coast	$	1,748,582	$	1,912,146	$	2,085,328
Southwest	796,810		764,816		707,075
Central	1,192,869		1,267,892		1,239,305
Southeast	429,441		592,804		502,087
Total	$	4,167,702	$	4,537,658	$	4,533,795




Pretax income (loss):
West Coast	$	151,039	$	178,078	$	240,337
Southwest	133,386		111,016		91,017
Central	128,802		126,304		117,609
Southeast	22,950		18,550		7,624
Corporate and other	(104,677)		(108,759)		(105,286)
Total	$	331,500	$	325,189	$	351,301



Equity in income (loss) of unconsolidated joint ventures:
West Coast	$	12,972	$	(851)	$	(966)
Southwest	(497)		(697)		3,033
Central	—		—		—
Southeast	(1)		(1)		(1)
Total	$	12,474	$	(1,549)	$	2,066



Inventory impairment and land option contract abandonment charges:
West Coast	$	21,941	$	15,567	$	20,381
Southwest	570		408		432
Central	5,520		848		2,558
Southeast	638		468		5,623
Total	$	28,669	$	17,291	$	28,994


	November 30,
	2020		2019
Inventories:
West Coast	$	1,928,500	$	1,795,088
Southwest	688,807		629,811
Central	867,170		889,179
Southeast	413,005		390,524
Total	$	3,897,482	$	3,704,602


	November 30,
	2020		2019
Investments in unconsolidated joint ventures:
West Coast	$	42,762	$	51,740
Southwest	1,516		2,792
Central	—		—
Southeast	2,507		2,506
Total	$	46,785	$	57,038

Assets:
West Coast	$	2,057,362	$	1,925,192
Southwest	738,765		674,310
Central	998,612		1,035,563
Southeast	448,388		441,451
Corporate and other	1,077,113		900,570
Total	$	5,320,240	$	4,977,086

The following tables present financial information relating to our financial services reporting segment (in thousands):


	Years Ended November 30,
	2020		2019		2018
Revenues
Insurance commissions	$	8,589	$	8,662	$	7,535
Title services	6,883		6,421		5,672
Interest income	—		6		—
Total	15,472		15,089		13,207
Expenses
General and administrative	(4,083)		(4,333)		(3,844)
Operating income	11,389		10,756		9,363
Equity in income of unconsolidated joint ventures	21,154		12,230		7,301
Pretax income	$	32,543	$	22,986	$	16,664


	November 30,
	2020		2019
Assets
Cash and cash equivalents	$	1,339	$	1,044
Receivables	1,988		2,232
Investments in unconsolidated joint ventures	10,978		14,374
Other assets (a)	21,897		20,746
Total assets	$	36,202	$	38,396
Liabilities
Accounts payable and accrued expenses	$	2,629	$	2,058
Total liabilities	$	2,629	$	2,058

(a)Other assets at November 30, 2020 and 2019 included $21.5 million and $20.6 million, respectively, of contract assets for estimated future renewal commissions.