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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
May 31, 2011
May 31, 2010
Cash flows from operating activities:    
Net loss $ (183,030) $ (85,413)
Adjustments to reconcile net loss to net cash used by operating activities:    
Equity in (income) loss of unconsolidated joint ventures 55,417 (2,218)
Distributions of earnings from unconsolidated joint ventures 6,313 7,500
Loss on loan guaranty 37,330  
Gain on sale of operating property (8,825)  
Amortization of discounts and issuance costs 1,108 1,065
Depreciation and amortization 1,160 1,780
(Gain) on early extinguishment of debt/loss on voluntary termination of revolving credit facility (3,612) 1,802
Tax benefits from stock-based compensation   1,599
Stock-based compensation expense 3,775 4,029
Inventory impairments and land option contract abandonments 22,345 13,362
Change in assets and liabilities:    
Receivables (1,443) 183,417
Inventories (167,792) (155,214)
Accounts payable, accrued expenses and other liabilities (28,080) (81,609)
Other, net (5,990) (2,704)
Net cash used by operating activities (271,324) (112,604)
Cash flows from investing activities:    
Investments in unconsolidated joint ventures (1,919) (1,756)
Proceeds from sale of operating property 80,600  
Purchases of property and equipment, net (108) (454)
Net cash provided (used) by investing activities 78,573 (2,210)
Cash flows from financing activities:    
Change in restricted cash 1,514 6,535
Payments on mortgages and land contracts due to land sellers and other loans (80,826) (71,828)
Issuance of common stock under employee stock plans 442 897
Excess tax benefit associated with exercise of stock options   583
Payments of cash dividends (9,613) (9,607)
Repurchases of common stock   (350)
Net cash used by financing activities (88,483) (73,770)
Net decrease in cash and cash equivalents (281,234) (188,584)
Cash and cash equivalents at beginning of period 908,430 1,177,961
Cash and cash equivalents at end of period $ 627,196 $ 989,377