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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Nov. 30, 2017
Nov. 30, 2016
Nov. 30, 2015
Cash flows from operating activities:      
Net income $ 180,595 $ 105,615 $ 84,643
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in (income) loss of unconsolidated joint ventures (2,825) 5,601 (2,488)
Distributions of earnings from unconsolidated joint ventures 0 0 0
Amortization of discounts and issuance costs 6,573 7,576 7,738
Depreciation and amortization 2,791 3,637 3,411
Deferred income taxes 105,348 43,211 43,036
Loss on early extinguishment of debt 5,685 0 0
Excess tax benefits from stock-based compensation (958) (186) (157)
Stock-based compensation 14,633 16,850 17,143
Inventory impairments and land option contract abandonments 25,232 52,812 9,591
Changes in assets and liabilities:      
Receivables (12,508) 18,965 9,143
Inventories 126,085 (98,321) 34,852
Accounts payable, accrued expenses and other liabilities 66,594 32,723 (27,615)
Other, net (4,026) 172 1,888
Net cash provided by operating activities 513,219 188,655 181,185
Cash flows from investing activities:      
Contributions to unconsolidated joint ventures (18,694) (5,602) (20,626)
Return of investments in unconsolidated joint ventures 11,035 4,307 14,000
Purchases of property and equipment, net (8,085) (4,784) (4,677)
Net cash used in investing activities (15,744) (6,079) (11,303)
Cash flows from financing activities:      
Change in restricted cash 0 9,344 17,891
Proceeds from issuance of debt 0 0 250,000
Payment of debt issuance costs (1,711) 0 (4,561)
Repayment of senior notes (270,326) 0 (199,906)
Payments on mortgages and land contracts due to land sellers and other loans (106,382) (67,845) (22,877)
Issuance of common stock under employee stock plans 23,162 5,343 740
Excess tax benefits from stock-based compensation 958 186 157
Payments of cash dividends (8,642) (8,586) (9,186)
Stock repurchases (6,673) (88,359) (567)
Net cash provided by (used in) financing activities (369,614) (149,917) 31,691
Net increase in cash and cash equivalents 127,861 32,659 201,573
Cash and cash equivalents at beginning of year 593,000 560,341 358,768
Cash and cash equivalents at end of year $ 720,861 $ 593,000 $ 560,341