Inventories (Tables)

9 Months Ended

Aug. 31, 2018

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following (in thousands):

	August 31, 2018		November 30, 2017
Homes under construction	$	1,394,895	$	1,236,848
Land under development	2,053,922		1,651,339
Land held for future development or sale (a)	240,038		375,199
Total	$	3,688,855	$	3,263,386

(a)    Land held for sale totaled $13.9 million at August 31, 2018 and $21.8 million at November 30, 2017

Schedule of Capitalized Interest Costs

Our interest costs were as follows (in thousands):

	Three Months Ended August 31,						Nine Months Ended August 31,
	2018			2017			2018			2017
Capitalized interest at beginning of period	$	247,276		$	303,984		$	262,191		$	306,723
Interest incurred (a)	35,228			43,434			115,096			136,857
Interest expensed (a)	—			—			—			(6,307		)
Interest amortized to construction and land costs (b)	(53,288		)	(55,204		)	(148,071		)	(145,059		)
Capitalized interest at end of period (c)	$	229,216		$	292,214		$	229,216		$	292,214

(a) Interest incurred and interest expensed for the nine months ended August 31, 2017 included a charge of $5.7 million for the early extinguishment of debt.

(b) Interest amortized to construction and land costs for the three months ended August 31, 2018 and 2017 included $.3 million and $.2 million, respectively, related to land sales during those periods. Interest amortized to construction and land costs for the nine months ended August 31, 2018 and 2017 included $4.3 million and $1.8 million, respectively, related to land sales during those periods.

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