Property and Equipment, Net Property and Equipment, Net

12 Months Ended

Nov. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):

	November 30,
	2019			2018
Computer software and equipment	$	27,091		$	20,940
Model furnishings and sales office improvements (a)	82,117			—
Leasehold improvements, office furniture and equipment (b)	16,173			23,491
Subtotal	125,381			44,431
Less accumulated depreciation (a)	(60,338		)	(20,148		)
Total	$	65,043		$	24,283

(a) The balance at November 30, 2019 reflects a change in the classification of certain community sales office and other marketing- and model home-related costs and related accumulated amortization from inventories to property and equipment, net due to our adoption of ASC 606 effective December 1, 2018, as described in Note 1 – Summary of Significant Accounting Policies.

(b)

In January 2019, we completed the sale and leaseback of our office building in San Antonio, Texas. The sale generated net cash proceeds of $5.8 million and a gain of $2.2 million, which is being recognized on a straight-line basis over a 10-year lease term until our adoption of ASC 842, when the remaining gain will be recognized as a transition adjustment to beginning retained earnings, as described in Note 1 – Summary of Significant Accounting Policies.