Inventories (Tables)

3 Months Ended

Feb. 28, 2025

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following (in thousands):

	February 28, 2025		November 30, 2024
Homes completed or under construction	$	1,957,426	$	1,990,113
Land under development	3,985,121		3,537,907
Total	$	5,942,547	$	5,528,020

Schedule of Capitalized Interest Costs

Our interest costs were as follows (in thousands):

	Three Months Ended
	February 28, 2025		February 29, 2024
Capitalized interest at beginning of period	$	122,387	$	134,375
Interest incurred	26,392		26,505
Interest amortized to construction and land costs (a)	(23,423)		(26,503)
Capitalized interest at end of period	$	125,356	$	134,377

(a)Interest amortized to construction and land costs for the three months ended February 29, 2024 included a nominal amount related to land sales during the period.