Inventories (Tables)

12 Months Ended

Nov. 30, 2018

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following (in thousands):

	November 30,
	2018		2017
Homes under construction	$	1,125,152	$	1,236,848
Land under development	2,219,936		1,651,339
Land held for future development or sale (a)	237,751		375,199
Total	$	3,582,839	$	3,263,386

Interest costs

Our interest costs were as follows (in thousands):

	Years Ended November 30,
	2018			2017			2016
Capitalized interest at beginning of year	$	262,191		$	306,723		$	288,442
Interest incurred (a)	149,698			177,171			185,466
Interest expensed (a)	—			(6,307		)	(5,900		)
Interest amortized to construction and land costs (b)	(202,760		)	(215,396		)	(161,285		)
Capitalized interest at end of year (c)	$	209,129		$	262,191		$	306,723

(a) Interest incurred and interest expensed for the year ended November 30, 2017 included a charge of $5.7 million for the early extinguishment of debt.

(b) Interest amortized to construction and land costs for the years ended November 30, 2018, 2017 and 2016 included $4.8 million, $4.9 million and $.7 million, respectively, related to land sales during the periods.

(c) Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.