Inventories (Tables)

9 Months Ended

Aug. 31, 2020

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following (in thousands):

	August 31, 2020		November 30, 2019
Homes completed or under construction	$	1,316,467	$	1,340,412
Land under development	2,234,992		2,213,713
Land held for future development or sale (a)	119,670		150,477
Total	$	3,671,129	$	3,704,602

(a)    Land held for sale totaled $1.3 million at August 31, 2020 and $19.3 million at November 30, 2019

Schedule of Capitalized Interest Costs

Our interest costs were as follows (in thousands):

	Three Months Ended August 31,						Nine Months Ended August 31,
	2020			2019			2020			2019
Capitalized interest at beginning of period	$	194,434		$	212,160		$	195,738		$	209,129
Interest incurred	31,054			36,024			93,071			107,356
Interest amortized to construction and land costs (a)	(30,628		)	(38,558		)	(93,949		)	(106,859		)
Capitalized interest at end of period (b)	$	194,860		$	209,626		$	194,860		$	209,626

(a) Interest amortized to construction and land costs for the three months and nine months ended August 31, 2020 included $.4 million related to land sales during the periods. Interest amortized to construction and land costs for the nine months ended August 31, 2019 included $.6 million related to land sales during the period. There was no such interest amortized for the three months ended August 31, 2019.

(b)

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