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Quarterly Results (unaudited) | 12 Months Ended
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Nov. 30, 2020
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results (unaudited) | Quarterly Results (unaudited) The following tables present our consolidated quarterly results for the years ended November 30, 2020 and 2019 (in thousands, except per share amounts):
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2020 |  |  |  |  |  |  |
Revenues | $ | 1,075,935 |  |  | $ | 913,970 |  |  | $ | 999,013 |  |  | $ | 1,194,256 |
Gross profits | 188,920 |  |  | 168,634 |  |  | 199,462 |  |  | 241,624 |
Inventory impairment and land option contract abandonment charges | 5,672 |  |  | 4,379 |  |  | 6,888 |  |  | 11,730 |
Pretax income (a) | 68,848 |  |  | 67,789 |  |  | 101,315 |  |  | 126,091 |
Net income | 59,748 |  |  | 51,989 |  |  | 78,415 |  |  | 106,091 |
Earnings per share: |  |  |  |  |  |  |
Basic | .66 |  |  | .57 |  |  | .86 |  |  | 1.16 |
Diluted | .63 |  |  | .55 |  |  | .83 |  |  | 1.12 |
2019 |  |  |  |  |  |  |
Revenues | $ | 811,483 |  |  | $ | 1,021,803 |  |  | $ | 1,160,786 |  |  | $ | 1,558,675 |
Gross profits | 139,604 |  |  | 177,019 |  |  | 216,029 |  |  | 306,834 |
Inventory impairment and land option contract abandonment charges | 3,555 |  |  | 4,337 |  |  | 5,251 |  |  | 4,148 |
Pretax income (b) | 34,511 |  |  | 56,761 |  |  | 91,936 |  |  | 164,967 |
Net income | 30,011 |  |  | 47,461 |  |  | 68,136 |  |  | 123,167 |
Earnings per share: |  |  |  |  |  |  |
Basic | .34 |  |  | .54 |  |  | .77 |  |  | 1.37 |
Diluted | .31 |  |  | .51 |  |  | .73 |  |  | 1.31 |
(a)Pretax income for the second quarter included $6.7 million of severance charges. (b)Pretax income for the fourth quarter included a $6.8 million loss on the early extinguishment of debt. Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the year.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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