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Inventories (Tables) | 9 Months Ended
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Aug. 31, 2013
Inventory Disclosure [Abstract] |
Schedule of Inventories | Inventories consisted of the following (in thousands):
| August 31, 2013 |  | November 30, 2012
Homes under construction | $ | 629,341 |  |  | $ | 454,108 |
Land under development | 953,694 |  |  | 567,470 |
Land held for future development | 646,685 |  |  | 684,993 |
Total | $ | 2,229,720 |  |  | $ | 1,706,571 |
Schedule of Capitalized Interest Costs | Our interest costs are as follows (in thousands):
| Nine Months Ended August 31, |  | Three Months Ended August 31,
| 2013 |  | 2012 |  | 2013 |  | 2012
Capitalized interest at beginning of period | $ | 217,684 |  |  | $ | 233,461 |  |  | $ | 215,577 |  |  | $ | 235,032 |
Interest incurred (a) | 102,256 |  |  | 99,552 |  |  | 34,345 |  |  | 39,532 |
Interest expensed (a) | (41,073 | ) |  | (53,815 | ) |  | (11,326 | ) |  | (23,060 | )
Interest amortized to construction and land costs | (62,943 | ) |  | (48,909 | ) |  | (22,672 | ) |  | (21,215 | )
Capitalized interest at end of period (b) | $ | 215,924 |  |  | $ | 230,289 |  |  | $ | 215,924 |  |  | $ | 230,289 |
(a) | Amounts for the three months and nine months ended August 31, 2012 include losses on the early extinguishment of debt of $8.3 million and $10.3 million, respectively.
(b) | Inventory impairment charges are recognized against all inventory costs of a community, such as land acquisition, 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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