Notes Payable (Tables)

12 Months Ended

Nov. 30, 2017

Debt Instrument [Line Items]

Mortgages and Notes Payable

Notes payable consisted of the following (in thousands):

	November 30,
	2017		2016
Mortgages and land contracts due to land sellers and other loans (at interest rates of 1% to 3% at November 30, 2017 and 1% to 7% at November 30, 2016)	$	10,203	$	66,927
9.10% Senior notes due September 15, 2017	—		263,932
7 1/4% Senior notes due June 15, 2018	299,867		299,647
4.75% Senior notes due May 15, 2019	398,397		397,364
8.00% Senior notes due March 15, 2020	346,238		344,811
7.00% Senior notes due December 15, 2021	446,608		445,911
7.50% Senior notes due September 15, 2022	347,234		346,774
7.625% Senior notes due May 15, 2023	247,726		247,404
1.375% Convertible senior notes due February 1, 2019	228,572		227,379
Total	$	2,324,845	$	2,640,149

The key terms of each of our senior notes outstanding as of November 30, 2017 were as follows (dollars in thousands):

					Redeemable Prior to Maturity	Effective Interest Rate
Notes Payable	Principal		Issuance Date	Maturity Date
7 1/4% Senior notes	$	300,000	April 3, 2006	June 15, 2018	Yes (a)	7.3	%
4.75% Senior notes	400,000		March 25, 2014	May 15, 2019	Yes (b)	5.0
8.00% Senior notes	350,000		February 7, 2012	March 15, 2020	Yes (a)	8.5
7.00% Senior notes	450,000		October 29, 2013	December 15, 2021	Yes (b)	7.2
7.50% Senior notes	350,000		July 31, 2012	September 15, 2022	Yes (a)	7.7
7.625% Senior notes	250,000		February 17, 2015	May 15, 2023	Yes (b)	7.8
1.375% Convertible senior notes	230,000		January 29, 2013	February 1, 2019	Yes (c)	1.9

(a) At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to the applicable redemption date.

(b) At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date, except that three months prior to the stated maturity dates for the 4.75% Senior Notes due 2019 and the 7.00% Senior Notes due 2021 and until their respective maturity, and six months prior to the stated maturity date for the 7.625% Senior Notes due 2023 and until their maturity, the redemption price will be equal to 100% of the principal amount of the notes being redeemed, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date.

(c) We may not redeem these notes prior to November 6, 2018. On or after November 6, 2018, and prior to the stated maturity date, we may, at our option, redeem all or part of the notes at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest to, but excluding the redemption date.