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Inventories (Tables) | 6 Months Ended
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May 31, 2012
Inventories [Abstract] |
Inventories |
|  | May 31, 2012 |  |  | November 30, 2011 |
Homes under construction |  | $ | 469,880 |  |  | $ | 417,304 |
Land under development |  |  | 532,520 |  |  |  | 587,582 |
Land held for future development |  |  | 725,240 |  |  |  | 726,743 |
Total |  | $ | 1,727,640 |  |  | $ | 1,731,629 |
Interest costs |
|  | Six Months Ended May 31, |  |  | Three Months Ended May 31, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Capitalized interest at beginning of period |  | $ | 233,461 |  |  | $ | 249,966 |  |  | $ | 234,917 |  |  | $ | 253,040 |
Interest incurred (a) |  |  | 60,020 |  |  |  | 55,399 |  |  |  | 29,609 |  |  |  | 29,462 |
Interest expensed (a) |  |  | (30,755 | ) |  |  | (24,560 | ) |  |  | (14,469 | ) |  |  | (13,121 | )
Interest amortized to construction and land costs |  |  | (27,694 | ) |  |  | (31,013 | ) |  |  | (15,025 | ) |  |  | (19,589 | )
Capitalized interest at end of period (b) |  | $ | 235,032 |  |  | $ | 249,792 |  |  | $ | 235,032 |  |  | $ | 249,792 |
(a) | Amounts for the six months ended May 31, 2012 include a $2.0 million loss on early extinguishment of debt. Amounts for the six months ended May 31, 2011 include a $3.6 million gain on the early extinguishment of secured debt.
(b) | Inventory impairment charges are recognized against all inventory costs of a community, such as land, land development, cost of home construction and capitalized interest. Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest as impairment charges recognized are not generally allocated to specific components of inventory.

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