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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
May. 31, 2015
May. 31, 2014
Cash flows from operating activities:    
Net loss $ (17,372) $ (37,187)
Adjustments to reconcile net income to net cash used in operating activities:    
Equity in income of unconsolidated joint ventures (1,607) (1,900)
Amortization of discounts and issuance costs 3,914 3,360
Depreciation and amortization 1,646 1,026
Deferred income taxes 5,700 0
Stock-based compensation 7,428 3,725
Noncash Project Abandonment Costs 984 790
Change in assets and liabilities:    
Receivables (17,999) (17,101)
Inventories (116,664) (579,173)
Accounts payable, accrued expenses and other liabilities (34,048) 2,474
Other, net (2,626) (4,917)
Net cash used in operating activities (135,900) (554,529)
Cash flows from investing activities:    
Return of investments in (contributions to) unconsolidated joint ventures (13,244) (16,242)
Proceeds from sale of investment in unconsolidated joint venture 0 10,110
Purchases of property and equipment, net (1,590) (3,012)
Net cash provided by (used in) investing activities (14,834) (9,144)
Cash flows from financing activities:    
Change in restricted cash 22 (2,331)
Proceeds from issuance of debt 250,000 400,000
Payment of debt issuance costs (3,337) (5,448)
Payments on mortgages and land contracts due to land sellers and other loans (7,757) (6,476)
Proceeds from Issuance or Sale of Equity 0 137,045
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options 25 64
Payments of cash dividends (4,599) (4,388)
Stock repurchases (300) (46)
Net cash provided by (used in) financing activities 234,054 518,420
Net increase (decrease) in cash and cash equivalents 83,320 (45,253)
Cash and cash equivalents at beginning of period 358,768 532,523
Cash and cash equivalents at end of period $ 442,088 $ 487,270