Inventories (Tables)

9 Months Ended

Aug. 31, 2019

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following (in thousands):

	August 31, 2019		November 30, 2018
Homes under construction	$	1,587,617	$	1,125,152
Land under development	2,150,088		2,219,936
Land held for future development or sale (a)	181,371		237,751
Total	$	3,919,076	$	3,582,839

(a)    Land held for sale totaled $27.8 million at August 31, 2019 and $9.8 million at November 30, 2018

Schedule of Capitalized Interest Costs

Our interest costs were as follows (in thousands):

	Three Months Ended August 31,						Nine Months Ended August 31,
	2019			2018			2019			2018
Capitalized interest at beginning of period	$	212,160		$	247,276		$	209,129		$	262,191
Interest incurred	36,024			35,228			107,356			115,096
Interest amortized to construction and land costs (a)	(38,558		)	(53,288		)	(106,859		)	(148,071		)
Capitalized interest at end of period (b)	$	209,626		$	229,216		$	209,626		$	229,216

(a) Interest amortized to construction and land costs for the three months ended August 31, 2018 included $.3 million related to land sales during the period. Interest amortized to construction and land costs for the nine months ended August 31, 2019 and 2018 included $.6 million and $4.3 million, respectively, related to land sales during the periods.

(b)

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.