XML 57 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Feb. 29, 2012
Feb. 28, 2011
Cash flows from operating activities:    
Net loss $ (45,802) $ (114,526)
Adjustments to reconcile net loss to net cash used by operating activities:    
Equity in (income) loss of unconsolidated joint ventures (70) 55,987
Distributions of earnings from unconsolidated joint ventures   186
Loss on loan guaranty   22,758
Gain on sale of operating property   (8,825)
Amortization of discounts and issuance costs 579 552
Depreciation and amortization 392 596
Loss (gain) on early extinguishment of debt 2,003 (3,612)
Stock-based compensation expense 1,656 1,980
Inventory impairments and land option contract abandonments 6,572 1,754
Change in assets and liabilities:    
Receivables 18,293 4,627
Inventories (25,856) (64,940)
Accounts payable, accrued expenses and other liabilities (60,621) (55,472)
Other, net (6,730) (5,964)
Net cash used by operating activities (109,584) (164,899)
Cash flows from investing activities:    
Return of investment in (contributions to) unconsolidated joint ventures 6,547 (611)
Proceeds from sale of operating property   80,600
Purchases of property and equipment, net (429) (74)
Net cash provided by investing activities 6,118 79,915
Cash flows from financing activities:    
Change in restricted cash 591 (5,710)
Proceeds from issuance of senior notes 344,831  
Payment of senior notes issuance costs (5,816)  
Repayment of senior notes (340,481)  
Payments on mortgages and land contracts due to land sellers and other loans (1,715) (70,501)
Issuance of common stock under employee stock plans 175 69
Payments of cash dividends (4,818) (4,806)
Net cash used by financing activities (7,233) (80,948)
Net decrease in cash and cash equivalents (110,699) (165,932)
Cash and cash equivalents at beginning of period 418,074 908,430
Cash and cash equivalents at end of period $ 307,375 $ 742,498