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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
May 31, 2018
May 31, 2017
Cash flows from operating activities:    
Net income (loss) $ (13,947) $ 46,041
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Equity in income of unconsolidated joint ventures (613) (1,075)
Proceeds from Equity Method Investment, Distribution 5,147 0
Amortization of discounts and issuance costs 3,125 3,314
Depreciation and amortization 1,251 1,500
Deferred income taxes 137,668 27,100
Loss on early extinguishment of debt 0 5,685
Stock-based compensation 8,795 7,037
Inventory impairments and land option contract abandonments 11,511 10,009
Changes in assets and liabilities:    
Receivables (31,218) (2,905)
Inventories (152,799) (100,520)
Accounts payable, accrued expenses and other liabilities 18,369 (54,673)
Other, net (6,658) (6,093)
Net cash used in operating activities (19,369) (64,580)
Cash flows from investing activities:    
Contributions to unconsolidated joint ventures (11,600) (11,105)
Proceeds from Equity Method Investment, Distribution, Return of Capital 1,099 6,958
Purchases of property and equipment, net (3,427) (4,100)
Net cash used in investing activities (13,928) (8,247)
Cash flows from financing activities:    
Repayment of senior notes 0 (105,326)
Payments on mortgages and land contracts due to land sellers and other loans (10,494) (61,640)
Issuance of common stock under employee stock plans 4,771 3,049
Payments of cash dividends (4,500) (4,341)
Tax payments associated with stock-based compensation awards (6,787) (2,543)
Net cash used in financing activities (17,010) (170,801)
Net decrease in cash and cash equivalents (50,307) (243,628)
Cash and cash equivalents at beginning of period 720,861 593,000
Cash and cash equivalents at end of period $ 670,554 $ 349,372