Income Taxes Income Taxes (Tables)

9 Months Ended

Aug. 31, 2017

Income Tax Disclosure [Abstract]

Income tax benefit computed at the statutory U.S federal income tax rate and income tax benefit (expense) provided in the consolidated statements of operations

Our income tax expense and effective income tax rates were as follows (dollars in thousands):

	Three Months Ended August 31,						Nine Months Ended August 31,
	2017			2016			2017			2016
Income tax expense (a)	$	29,000		$	14,100		$	56,400		$	26,200
Effective income tax rate (a)	36.6		%	26.4		%	36.9		%	27.8		%

(a) Amounts reflect the favorable net impact of federal energy tax credits we earned from building energy-efficient homes through December 31, 2016. The net impact of these tax credits was $2.6 million and $6.7 million for the three months ended August 31, 2017 and 2016, respectively, and $3.8 million and $10.4 million for the nine months ended August 31, 2017 and 2016, respectively.