Financial Services

9 Months Ended

Aug. 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 August 31,				Nine Months Ended August 31,
	2023		2022		2023		2022
Revenues
Insurance commissions	$	4,153	$	3,250	$	11,537	$	8,364
Title services	3,139		2,757		9,002		7,495
Other	—		—		—		19
Total	7,292		6,007		20,539		15,878
Expenses
General and administrative	(1,530)		(1,510)		(4,360)		(4,219)
Operating income	5,762		4,497		16,179		11,659
Equity in income of unconsolidated joint ventures	4,149		128		11,157		20,083
Pretax income	$	9,911	$	4,625	$	27,336	$	31,742

	August 31, 2023		November 30, 2022
Assets
Cash and cash equivalents	$	321	$	1,681
Receivables	2,870		3,475
Investments in unconsolidated joint venture	25,814		26,678
Other assets (a)	31,530		27,698
Total assets	$	60,535	$	59,532
Liabilities
Accounts payable and accrued expenses	$	1,483	$	3,128
Total liabilities	$	1,483	$	3,128

(a)Other assets at August 31, 2023 and November 30, 2022 included $31.4 million and $27.6 million, respectively, of contract assets for estimated future renewal commissions.