v3.26.3
Inventories (Tables)
 9 Months Ended
Aug. 31, 2026
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories consisted of the following (in thousands):
August 31,
2026		November 30,
2025
Homes completed or under construction$1,721,316 $1,571,793 
Land under development4,259,866 4,099,009 
Total$5,981,182 $5,670,802 
Schedule of Capitalized Interest Costs
Our interest costs were as follows (in thousands):
Three Months Ended August 31,Nine Months Ended August 31,
2026202520262025
Capitalized interest at beginning of period$145,204 $128,676 $125,627 $122,387 
Interest incurred 31,520 29,658 88,629 84,676 
Interest amortized to construction and land costs (a)(22,552)(27,026)(60,084)(75,755)
Capitalized interest at end of period$154,172 $131,308 $154,172 $131,308 
(a)Interest amortized to construction and land costs for the three-month and nine-month periods ended August 31, 2025 included nominal amounts related to land sales during the periods.