XML 26 R13.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Inventories | 9 Months Ended
--- | ---
Aug. 31, 2022
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories consisted of the following (in thousands):
| August 31, 2022 |  | November 30, 2021
Homes completed or under construction | $ | 2,696,548 |  |  | $ | 2,103,038 |
Land under development | 3,040,154 |  |  | 2,699,791 |
Total | $ | 5,736,702 |  |  | $ | 4,802,829 |
Land under development at August 31, 2022 and November 30, 2021 included land held for future development or sale of $53.3 million and $45.2 million, respectively. 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). In the case of land held for future development and land held for 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,
| 2022 |  | 2021 |  | 2022 |  | 2021
Capitalized interest at beginning of period | $ | 154,665 |  |  | $ | 180,065 |  |  | $ | 161,119 |  |  | $ | 190,113 |
Interest incurred | 31,778 |  |  | 29,605 |  |  | 89,102 |  |  | 91,807 |
Interest amortized to construction and land costs (a) | (35,979) |  |  | (37,544) |  |  | (99,757) |  |  | (109,794) |
Capitalized interest at end of period | $ | 150,464 |  |  | $ | 172,126 |  |  | $ | 150,464 |  |  | $ | 172,126 |
(a)For the nine months ended August 31, 2021, interest amortized to construction and land costs included a nominal amount related to land sales during the period.

X
- References No definition available. + Details
Name: | us-gaap_InventoryDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_InventoryDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration