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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Aug. 31, 2015
Aug. 31, 2014
Cash flows from operating activities:    
Net income $ (40,626) $ (65,548)
Adjustments to reconcile net income to net cash used in operating activities:    
Equity in income of unconsolidated joint ventures (1,843) (872)
Amortization of discounts and issuance costs 5,866 5,246
Depreciation and amortization 2,547 1,677
Deferred income taxes 15,216 0
Stock-based compensation 10,444 5,959
Inventory impairments and land option contract abandonments 4,516 5,211
Change in assets and liabilities:    
Receivables (25,032) (27,754)
Inventories (72,509) (784,457)
Accounts payable, accrued expenses and other liabilities (1,952) 20,388
Other, net 37 (7,608)
Net cash used in operating activities (22,084) (716,662)
Cash flows from investing activities:    
Contributions to unconsolidated joint ventures (20,955) (34,034)
Return of investments in unconsolidated joint ventures 14,000 0
Proceeds from sale of investment in unconsolidated joint venture 0 10,110
Purchases of property and equipment, net (2,100) (4,158)
Net cash used in investing activities (9,055) (28,082)
Cash flows from financing activities:    
Change in restricted cash 2,207 9,450
Proceeds from issuance of debt 250,000 400,000
Payment of debt issuance costs (4,561) (5,448)
Repayment of senior notes (199,906) 0
Payments on mortgages and land contracts due to land sellers and other loans (13,736) (23,292)
Proceeds from issuance of common stock, net 0 137,045
Issuance of common stock under employee stock plans 436 202
Payments of cash dividends (6,890) (6,682)
Stock repurchases (300) (46)
Net cash provided by financing activities 27,250 511,229
Net decrease in cash and cash equivalents (3,889) (233,515)
Cash and cash equivalents at beginning of period 358,768 532,523
Cash and cash equivalents at end of period $ 354,879 $ 299,008