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Inventories (Tables) | 12 Months Ended
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Nov. 30, 2013
Inventory Disclosure [Abstract] |
Inventories | Inventories consisted of the following (in thousands):
| November 30,
| 2013 |  | 2012
Homes under construction | $ | 586,439 |  |  | $ | 454,108 |
Land under development | 1,066,916 |  |  | 567,470 |
Land held for future development | 645,222 |  |  | 684,993 |
Total | $ | 2,298,577 |  |  | $ | 1,706,571 |
Interest costs | Our interest costs are as follows (in thousands):
| Years Ended November 30,
| 2013 |  | 2012 |  | 2011
Capitalized interest at beginning of year | $ | 217,684 |  |  | $ | 233,461 |  |  | $ | 249,966 |
Interest incurred (a) | 149,101 |  |  | 132,657 |  |  | 112,037 |
Interest expensed (a) | (62,690 | ) |  | (69,804 | ) |  | (49,204 | )
Interest amortized to construction and land costs | (87,414 | ) |  | (78,630 | ) |  | (79,338 | )
Capitalized interest at end of year (b) | $ | 216,681 |  |  | $ | 217,684 |  |  | $ | 233,461 |
(a) | Amounts for the years ended November 30, 2013 and 2012 included losses on the early extinguishment of debt of $10.4 million and $10.3 million, respectively. Amounts for the year ended November 30, 2011 included a gain on the early extinguishment of secured debt of $3.6 million.
(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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