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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Nov. 30, 2019
Nov. 30, 2018
Nov. 30, 2017
Cash flows from operating activities:      
Net income $ 268,775 $ 170,365 $ 180,595
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income of unconsolidated joint ventures (10,681) (9,367) (2,825)
Proceeds from Equity Method Investment, Distribution 6,450 9,047 0
Amortization of discounts, premiums and issuance costs 4,426 6,232 6,573
Depreciation and amortization 27,158 2,530 2,791
Deferred income taxes 73,303 191,817 105,348
Loss on early extinguishment of debt 6,800 0 5,685
Excess tax benefits from stock-based compensation 0 0 (958)
Stock-based compensation 18,312 15,861 14,633
Inventory impairments and land option contract abandonments 17,291 28,994 25,232
Changes in assets and liabilities:      
Receivables 44,428 (49,778) (12,508)
Inventories (165,347) (270,126) 126,085
Accounts payable, accrued expenses and other liabilities (40,583) 126,710 66,594
Other, net 710 (773) (4,026)
Net cash provided by operating activities 251,042 221,512 513,219
Cash flows from investing activities:      
Contributions to unconsolidated joint ventures (11,290) (22,671) (18,694)
Return of investments in unconsolidated joint ventures 5,001 9,934 11,035
Purchases of property and equipment, net (40,459) (7,370) (8,085)
Net cash used in investing activities (40,944) (20,107) (15,744)
Cash flows from financing activities:      
Proceeds from Issuance of Senior Long-term Debt 705,250 0 0
Repayment of senior notes (986,231) (300,000) (270,326)
Borrowings under revolving credit facility 610,000 70,000 0
Payments of Debt Issuance Costs (11,128) 0 (1,711)
Repayments under revolving credit facility (610,000) (70,000) 0
Issuance costs for unsecured revolving credit facility (11,128) 0 (1,711)
Payments on mortgages and land contracts due to land sellers and other loans (41,116) (14,751) (106,382)
Issuance of common stock under employee stock plans 30,524 20,011 23,162
Excess tax benefits from stock-based compensation 0 0 958
Stock repurchases 0 (35,039) 0
Tax payments associated with stock-based compensation awards (7,288) (8,476) (6,673)
Payments of cash dividends (20,370) (8,892) (8,642)
Net cash used in financing activities (330,359) (347,147) (369,614)
Net increase (decrease) in cash and cash equivalents (120,261) (145,742) 127,861
Cash and cash equivalents at beginning of year 575,119 720,861 593,000
Cash and cash equivalents at end of year 454,858 575,119 720,861
Proceeds from Sale of Buildings $ 5,804 $ 0 $ 0