Financial Services

6 Months Ended

May 31, 2023

Segment Reporting [Abstract]

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,
	2023		2022		2023		2022
Revenues
Insurance commissions	$	4,010	$	2,596	$	7,384	$	5,114
Title services	3,460		2,637		5,863		4,738
Other	—		3		—		19
Total	7,470		5,236		13,247		9,871
Expenses
General and administrative	(1,472)		(1,362)		(2,830)		(2,709)
Operating income	5,998		3,874		10,417		7,162
Equity in income of unconsolidated joint ventures	5,426		14,807		7,008		19,955
Pretax income	$	11,424	$	18,681	$	17,425	$	27,117

	May 31, 2023		November 30, 2022
Assets
Cash and cash equivalents	$	420	$	1,681
Receivables	3,692		3,475
Investments in unconsolidated joint venture	21,664		26,678
Other assets (a)	30,256		27,698
Total assets	$	56,032	$	59,532
Liabilities
Accounts payable and accrued expenses	$	1,203	$	3,128
Total liabilities	$	1,203	$	3,128

(a)Other assets at May 31, 2023 and November 30, 2022 included $30.2 million and $27.6 million, respectively, of contract assets for estimated future renewal commissions.