Inventories (Tables)

12 Months Ended

Nov. 30, 2014

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following (in thousands):

	November 30,
	2014		2013
Homes under construction	$	928,272	$	586,439
Land under development	1,710,149		1,066,916
Land held for future development	579,966		645,222
Total	$	3,218,387	$	2,298,577

Interest costs

Our interest costs are as follows (in thousands):

	Years Ended November 30,
	2014			2013			2012
Capitalized interest at beginning of year	$	216,681		$	217,684		$	233,461
Interest incurred (a)	171,541			149,101			132,657
Interest expensed (a)	(30,750		)	(62,690		)	(69,804		)
Interest amortized to construction and land costs	(90,804		)	(87,414		)	(78,630		)
Capitalized interest at end of year (b)	$	266,668		$	216,681		$	217,684

(a) Amounts for the years ended November 30, 2013 and 2012 included losses on the early extinguishment of debt of $10.4 million and $10.3 million, respectively, associated with the purchase and retirement of certain senior notes ahead of their maturity.

(b) Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest, as inventory impairment charges recognized are not generally allocated to specific components of inventory.