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Basis of Presentation and Significant Accounting Policies (Tables)
 9 Months Ended
Aug. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of New Accounting Pronouncements
The impacts of adopting ASC 606 on our consolidated statements of operations for the three months and nine months ended August 31, 2019 and consolidated balance sheet as of August 31, 2019 were as follows (in thousands, except per share amounts):
 
 
Three Months Ended August 31, 2019
 
Nine Months Ended August 31, 2019
Statement of Operations
 
As Reported
 
Amounts without the Adoption of ASC 606
 
Effect of Change
Higher/(Lower)
 
As Reported
 
Amounts without the Adoption of ASC 606
 
Effect of Change
Higher/(Lower)
Homebuilding:
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
1,156,855

 
$
1,156,112

 
$
743

 
$
2,984,314

 
$
2,982,201

 
$
2,113

Construction and land costs
 
(943,754
)
 
(951,613
)
 
(7,859
)
 
(2,458,353
)
 
(2,478,583
)
 
(20,230
)
Selling, general and administrative expenses
 
(127,626
)
 
(118,772
)
 
8,854

 
(357,048
)
 
(332,691
)
 
24,357

Operating income
 
85,475

 
85,727

 
(252
)
 
168,913

 
170,927

 
(2,014
)
Financial services:
 
 
 
 
 
 
 
 
 
 
 

Revenues
 
3,931

 
3,751

 
180

 
9,758

 
9,366

 
392

Total pretax income
 
91,936

 
92,008

 
(72
)
 
183,208

 
184,830

 
(1,622
)
Income tax expense
 
(23,800
)
 
(23,800
)
 
—

 
(37,600
)
 
(38,000
)
 
(400
)
Net income
 
68,136

 
68,208

 
(72
)
 
145,608

 
146,830

 
(1,222
)
Diluted earnings per share
 
.73

 
.73

 
—

 
1.55

 
1.56

 
(.01
)
 
 
As of August 31, 2019
Balance Sheet
 
As Reported
 
Amounts without the Adoption of ASC 606
 
Effect of Change
Higher/(Lower)
Assets
 
 
 
 
 
 
Homebuilding:
 
 
 
 
 
 
Inventories
 
$
3,919,076

 
$
3,964,873

 
$
(45,797
)
Deferred tax assets, net
 
402,095

 
405,719

 
(3,624
)
Property and equipment, net
 
64,119

 
24,431

 
39,688

Financial services
 
31,911

 
11,791

 
20,120

Stockholders’ equity:
 
 
 
 
 
 
Retained earnings
 
2,042,034

 
2,031,647

 
10,387


Balance Sheet
 
Balance at November 30, 2018
 
Adjustments due to ASC 606
 
Balance at December 1, 2018
Assets
 
 
 
 
 
 
Homebuilding:
 
 
 
 
 
 
Inventories
 
$
3,582,839

 
$
(35,288
)
 
$
3,547,551

Deferred tax assets, net
 
441,820

 
(4,024
)
 
437,796

Property and equipment, net
 
24,283

 
31,194

 
55,477

Financial services
 
12,380

 
19,728

 
32,108

Stockholders’ equity:
 
 
 
 
 
 
Retained earnings
 
1,897,168

 
11,610

 
1,908,778