Inventories (Tables)

12 Months Ended

Nov. 30, 2015

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following (in thousands):

	November 30,
	2015		2014
Homes under construction	$	1,031,356	$	928,272
Land under development	1,766,045		1,710,149
Land held for future development	516,346		579,966
Total	$	3,313,747	$	3,218,387

Interest costs

Our interest costs were as follows (in thousands):

	Years Ended November 30,
	2015			2014			2013
Capitalized interest at beginning of year	$	266,668		$	216,681		$	217,684
Interest incurred (a)	186,885			171,541			149,101
Interest expensed (a)	(21,856		)	(30,750		)	(62,690		)
Interest amortized to construction and land costs (b)	(143,255		)	(90,804		)	(87,414		)
Capitalized interest at end of year (c)	$	288,442		$	266,668		$	216,681

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

(b) Interest amortized to construction and land costs for the year ended November 30, 2015 included $16.4 million related to land sales during the period.

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