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Notes Payable (Tables)
 12 Months Ended
Nov. 30, 2018
Debt Disclosure [Abstract]  
Mortgages and Notes Payable
The key terms of each of our senior notes outstanding as of November 30, 2018 were as follows (dollars in thousands):
 
 
 
 
 
 
 
 
Redeemable Prior to Maturity
 
Effective Interest Rate
 
 
 
 
 
 
 
 
 
Notes Payable
 
Principal
 
Issuance Date
 
Maturity Date
 
 
4.75% Senior notes
 
$
400,000

 
March 25, 2014
 
May 15, 2019
 
Yes (a)
 
5.0
%
8.00% Senior notes
 
350,000

 
February 7, 2012
 
March 15, 2020
 
Yes (b)
 
8.5

7.00% Senior notes
 
450,000

 
October 29, 2013
 
December 15, 2021
 
Yes (a)
 
7.2

7.50% Senior notes
 
350,000

 
July 31, 2012
 
September 15, 2022
 
Yes (b)
 
7.7

7.625% Senior notes
 
250,000

 
February 17, 2015
 
May 15, 2023
 
Yes (a)
 
7.8

1.375% Convertible senior notes
 
230,000

 
January 29, 2013
 
February 1, 2019
 
Yes (c)
 
1.9


(a)
At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date, except that three months prior to the stated maturity dates for the 4.75% Senior Notes due 2019 and the 7.00% Senior Notes due 2021 and until their respective maturity, and six months prior to the stated maturity date for the 7.625% Senior Notes due 2023 and until their maturity, the redemption price will be equal to 100% of the principal amount of the notes being redeemed, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date.
(b)
At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to the applicable redemption date.
(c)
Prior to the stated maturity date, we may, at our option, redeem all or part of the notes at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest to, but excluding, the redemption date.
Notes payable consisted of the following (in thousands):
 
November 30,
 
2018
 
2017
Mortgages and land contracts due to land sellers and other loans (at interest rates of 7% at November 30, 2018 and 3% to 6% at November 30, 2017)
$
40,038

 
$
10,203

7 1/4% Senior notes due June 15, 2018
—

 
299,867

4.75% Senior notes due May 15, 2019
399,483

 
398,397

8.00% Senior notes due March 15, 2020
347,790

 
346,238

7.00% Senior notes due December 15, 2021
447,359

 
446,608

7.50% Senior notes due September 15, 2022
347,731

 
347,234

7.625% Senior notes due May 15, 2023
248,074

 
247,726

1.375% Convertible senior notes due February 1, 2019
229,788

 
228,572

Total
$
2,060,263

 
$
2,324,845