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Inventories | 9 Months Ended
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Aug. 31, 2020
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories consisted of the following (in thousands):
| August 31, 2020 |  | November 30, 2019
Homes completed or under construction | $ | 1,316,467 |  |  | $ | 1,340,412 |
Land under development | 2,234,992 |  |  | 2,213,713 |
Land held for future development or sale (a) | 119,670 |  |  | 150,477 |
Total | $ | 3,671,129 |  |  | $ | 3,704,602 |
(a) Land held for sale totaled $1.3 million at August 31, 2020 and $19.3 million at November 30, 2019. Interest is capitalized to inventories while the related communities or land parcels are being actively developed and until homes are completed or the land is available for immediate sale. Capitalized interest is amortized to construction and land costs as the related inventories are delivered to homebuyers or land buyers (as applicable). For land held for future development or sale, applicable interest is expensed as incurred. Our interest costs were as follows (in thousands):
| Three Months Ended August 31, |  | Nine Months Ended August 31,
| 2020 |  | 2019 |  | 2020 |  | 2019
Capitalized interest at beginning of period | $ | 194,434 |  |  | $ | 212,160 |  |  | $ | 195,738 |  |  | $ | 209,129 |
Interest incurred | 31,054 |  |  | 36,024 |  |  | 93,071 |  |  | 107,356 |
Interest amortized to construction and land costs (a) | (30,628 | ) |  | (38,558 | ) |  | (93,949 | ) |  | (106,859 | )
Capitalized interest at end of period (b) | $ | 194,860 |  |  | $ | 209,626 |  |  | $ | 194,860 |  |  | $ | 209,626 |
(a) | Interest amortized to construction and land costs for the three months and nine months ended August 31, 2020 included $.4 million related to land sales during the periods. Interest amortized to construction and land costs for the nine months ended August 31, 2019 included $.6 million related to land sales during the period. There was no such interest amortized for the three months ended August 31, 2019.
(b) Capitalized interest amounts reflect the gross amount of capitalized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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