Notes Payable (Tables)

12 Months Ended

Nov. 30, 2015

Debt Instrument [Line Items]

Mortgages and Notes Payable

The key terms of each of our senior notes outstanding as of November 30, 2015 were as follows (dollars in thousands):

					Redeemable Prior to Maturity	Effective Interest Rate
Notes Payable	Principal		Issuance Date	Maturity Date
9.10% Senior notes	$	265,000	July 30, 2009	September 15, 2017	Yes (a)	9.5	%
7 1/4% Senior notes	300,000		April 3, 2006	June 15, 2018	Yes (a)	7.3
4.75% Senior notes	400,000		March 25, 2014	May 15, 2019	Yes (b)	4.8
8.00% Senior notes	350,000		February 7, 2012	March 15, 2020	Yes (a)	8.3
7.00% Senior notes	450,000		October 29, 2013	December 15, 2021	Yes (b)	7.0
7.50% Senior notes	350,000		July 31, 2012	September 15, 2022	Yes (a)	7.5
7.625% Senior notes	250,000		February 17, 2015	May 15, 2023	Yes (b)	7.6
1.375% Convertible senior notes	230,000		January 29, 2013	February 1, 2019	Yes (c)	1.4

(a) At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to the applicable redemption date.

(b) At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date, except that three months prior to the stated maturity dates for the 4.75% Senior Notes due 2019 and the 7.00% Senior Notes due 2021 and until their respective maturity, and six months prior to the stated maturity date for the 7.625% Senior Notes due 2023 and until their maturity, the redemption price will be equal to 100% of the principal amount of the notes being redeemed, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date.

(c) We may not redeem the notes prior to November 6, 2018. On or after November 6, 2018, and prior to the stated maturity date, we may, at our option, redeem all or part of the notes at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest to, but excluding the redemption date.

Notes payable consisted of the following (in thousands):

	November 30,
	2015		2014
Mortgages and land contracts due to land sellers and other loans (at interest rates of 4% to 7% at November 30, 2015 and 5% to 7% at November 30, 2014)	$	35,664	$	38,250
6 1/4% Senior notes due June 15, 2015	—		199,891
9.10% Senior notes due September 15, 2017	263,475		262,729
7 1/4% Senior notes due June 15, 2018	299,554		299,402
4.75% Senior notes due May 15, 2019	400,000		400,000
8.00% Senior notes due March 15, 2020	346,843		346,253
7.00% Senior notes due December 15, 2021	450,000		450,000
7.50% Senior notes due September 15, 2022	350,000		350,000
7.625% Senior notes due May 15, 2023	250,000		—
1.375% Convertible senior notes due February 1, 2019	230,000		230,000
Total	$	2,625,536	$	2,576,525