KB Home (KBH) 10-K 26 Jan 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Nov. 30, 2017	Dec. 31, 2017	May 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	KB Home
Entity Central Index Key	795,266
Document Type	10-K
Document Period End Date	Nov. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--11-30
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,986,837,449
Entity Common Stock Shares Outstanding		87,048,265

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended								12 Months Ended
		Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Total revenues		$ 1,403,138	$ 1,144,001	$ 1,002,794	$ 818,596	$ 1,191,942	$ 913,283	$ 811,050	$ 678,371	$ 4,368,529	$ 3,594,646	$ 3,032,030
Homebuilding:
Revenues										4,356,265	3,582,943	3,020,987
Construction and land costs										(3,646,468)	(3,041,101)	(2,539,368)
Selling, general and administrative expenses										(426,394)	(389,441)	(342,998)
Operating income										283,403	152,401	138,621
Interest income										1,240	529	458
Interest expense	[1]									(6,307)	(5,900)	(21,856)
Equity in income (loss) of unconsolidated joint ventures										2,825	(5,601)	2,488
Financial services:
Revenues										12,264	11,703	11,043
Expenses										(3,430)	(3,817)	(3,711)
Pretax income (loss)		137,346	79,208	51,982	21,459	55,028	53,463	24,797	16,027	289,995	149,315	127,043
Income tax expense										(109,400)	(43,700)	(42,400)
Net income		$ 84,346	$ 50,208	$ 31,782	$ 14,259	$ 37,528	$ 39,363	$ 15,597	$ 13,127	$ 180,595	$ 105,615	$ 84,643
Earnings per share: Basic (usd per share)		$ 0.97	$ 0.58	$ 0.37	$ 0.17	$ 0.44	$ 0.46	$ 0.18	$ 0.15	$ 2.09	$ 1.23	$ 0.92
Earnings per share: Diluted (usd per share)		$ 0.84	$ 0.51	$ 0.33	$ 0.15	$ 0.40	$ 0.42	$ 0.17	$ 0.14	$ 1.85	$ 1.12	$ 0.85
Weighted average shares outstanding: Basic (shares)										85,842	85,706	92,054
Weighted average shares outstanding: Diluted (shares)										98,316	96,278	102,857
Homebuilding [Member]
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures										$ (1,409)	$ (2,181)	$ (1,804)
Financial services:
Pretax income (loss)										276,927	144,849	115,419
Financial services [Member]
Homebuilding:
Operating income										8,834	7,886	7,332
Equity in income (loss) of unconsolidated joint ventures										4,234	(3,420)	4,292
Financial services:
Pretax income (loss)										$ 13,068	$ 4,466	$ 11,624
[1]	Interest incurred and interest expensed for the year ended November 30, 2017 included a charge of $5.7 million for the early extinguishment of debt.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 180,595	$ 105,615	$ 84,643
Net actuarial gain (loss) arising during the period	(3,143)	468	3,745
Amortization of net actuarial loss	142	79	848
Amortization of prior service cost	1,556	1,556	1,556
Other comprehensive income (loss) before tax	(1,445)	2,103	6,149
Income tax benefit (expense) related to items of other comprehensive income (loss)	578	(841)	(2,460)
Other comprehensive income (loss), net of tax	(867)	1,262	3,689
Comprehensive income	$ 179,728	$ 106,877	$ 88,332

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Nov. 30, 2017	Nov. 30, 2016
Assets
Cash and cash equivalents		$ 720,861	$ 593,000
Receivables		244,213	231,665
Inventories		3,263,386	3,403,228
Investments in unconsolidated joint ventures		64,794	64,016
Deferred tax assets, net		633,637	738,985
Other assets		102,498	91,145
Total assets		5,041,515	5,131,624
Liabilities and stockholders' equity
Accounts payable		213,463	215,331
Accrued expenses and other liabilities		575,930	550,996
Notes payable		2,324,845	2,640,149
Financial services		966	2,003
Stockholders' equity:
Preferred stock — $1.00 par value; 10,000,000 shares authorized; none issued		0	0
Common stock — $1.00 par value; 290,000,000 shares authorized at November 30, 2017 and 2016; 117,945,525 and 116,224,208 shares issued at November 30, 2017 and 2016, respectively		117,946	116,224
Paid-in capital		727,483	696,938
Retained earnings		1,735,695	1,563,742
Accumulated other comprehensive loss		(16,924)	(16,057)
Grantor stock ownership trust, at cost: 8,897,954 and 9,431,756 shares at November 30, 2017 and 2016, respectively		(96,509)	(102,300)
Treasury stock, at cost: 22,021,062 and 21,719,757 shares at November 30, 2017 and 2016, respectively		(541,380)	(535,402)
Total stockholder's equity		1,926,311	1,723,145
Total liabilities and stockholders' equity		5,041,515	5,131,624
Homebuilding [Member]
Assets
Cash and cash equivalents		720,630	592,086
Total assets		5,029,158	5,121,125
Liabilities and stockholders' equity
Total Homebuilding		3,114,238	3,406,476
Financial services [Member]
Assets
Cash and cash equivalents		231	914
Receivables		1,724	1,764
Investments in unconsolidated joint ventures	[1]	10,340	7,771
Other assets		62	50
Total assets		$ 12,357	$ 10,499
[1]	In 2017, we made a $5.3 million capital contribution to KBHS and received a $5.0 million distribution from HCM.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Nov. 30, 2017	Nov. 30, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value, in dollars	$ 1	$ 1
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value, in dollars	$ 1	$ 1
Common stock, shares authorized	290,000,000	290,000,000
Common stock, shares issued	117,945,525	116,224,208
Grantor stock ownership trust	8,897,954	9,431,756
Treasury stock, shares	22,021,062	21,719,757

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Grantor Stock Ownership Trust	Treasury Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance, shares at Nov. 30, 2014		115,387,000	(10,336,000)	(13,097,000)
Beginning balance at Nov. 30, 2014	$ 1,595,910	$ 115,387	$ (112,106)	$ (446,476)	$ 668,857	$ 1,391,256	$ (21,008)
Net income	84,643					84,643
Other comprehensive income (loss), net of tax	3,689						3,689
Dividends on common stock	$ (9,186)					(9,186)
Employee stock options/other, shares	76,164	76,000
Employee stock options/other	$ (798)	$ 76			(874)
Stock awards, shares		85,000	200,000
Stock awards	0	$ 85	$ 2,170		(2,255)
Stock-based compensation	17,143				17,143
Stock repurchases, shares				(40,000)
Stock repurchases	(567)			$ (567)
Ending balance, shares at Nov. 30, 2015		115,548,000	(10,136,000)	(13,137,000)
Ending balance at Nov. 30, 2015	1,690,834	$ 115,548	$ (109,936)	$ (447,043)	682,871	1,466,713	(17,319)
Net income	105,615					105,615
Other comprehensive income (loss), net of tax	1,262						1,262
Dividends on common stock	$ (8,586)					(8,586)
Employee stock options/other, shares	551,898	552,000
Employee stock options/other	$ 5,529	$ 552			4,977
Stock awards, shares		124,000	704,000
Stock awards	0	$ 124	$ 7,636		(7,760)
Stock-based compensation	16,850				16,850
Stock repurchases, shares				(8,583,000)
Stock repurchases	(88,359)			$ (88,359)
Ending balance, shares at Nov. 30, 2016		116,224,000	(9,432,000)	(21,720,000)
Ending balance at Nov. 30, 2016	1,723,145	$ 116,224	$ (102,300)	$ (535,402)	696,938	1,563,742	(16,057)
Net income	180,595					180,595
Other comprehensive income (loss), net of tax	(867)						(867)
Dividends on common stock	$ (8,642)					(8,642)
Employee stock options/other, shares	1,650,360	1,652,000
Employee stock options/other	$ 24,120	$ 1,652			22,468
Stock awards, shares		70,000	534,000	28,000
Stock awards	0	$ 70	$ 5,791	$ 695	(6,556)
Stock-based compensation	14,633				14,633
Stock repurchases, shares				(329,000)
Stock repurchases	(6,673)			$ (6,673)
Ending balance, shares at Nov. 30, 2017		117,946,000	(8,898,000)	(22,021,000)
Ending balance at Nov. 30, 2017	$ 1,926,311	$ 117,946	$ (96,509)	$ (541,380)	$ 727,483	$ 1,735,695	$ (16,924)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Cash flows from operating activities:
Net income	$ 180,595	$ 105,615	$ 84,643
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in (income) loss of unconsolidated joint ventures	(2,825)	5,601	(2,488)
Distributions of earnings from unconsolidated joint ventures	0	0	0
Amortization of discounts and issuance costs	6,573	7,576	7,738
Depreciation and amortization	2,791	3,637	3,411
Deferred income taxes	105,348	43,211	43,036
Loss on early extinguishment of debt	5,685	0	0
Excess tax benefits from stock-based compensation	(958)	(186)	(157)
Stock-based compensation	14,633	16,850	17,143
Inventory impairments and land option contract abandonments	25,232	52,812	9,591
Changes in assets and liabilities:
Receivables	(12,508)	18,965	9,143
Inventories	126,085	(98,321)	34,852
Accounts payable, accrued expenses and other liabilities	66,594	32,723	(27,615)
Other, net	(4,026)	172	1,888
Net cash provided by operating activities	513,219	188,655	181,185
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(18,694)	(5,602)	(20,626)
Return of investments in unconsolidated joint ventures	11,035	4,307	14,000
Purchases of property and equipment, net	(8,085)	(4,784)	(4,677)
Net cash used in investing activities	(15,744)	(6,079)	(11,303)
Cash flows from financing activities:
Change in restricted cash	0	9,344	17,891
Proceeds from issuance of debt	0	0	250,000
Payment of debt issuance costs	(1,711)	0	(4,561)
Repayment of senior notes	(270,326)	0	(199,906)
Payments on mortgages and land contracts due to land sellers and other loans	(106,382)	(67,845)	(22,877)
Issuance of common stock under employee stock plans	23,162	5,343	740
Excess tax benefits from stock-based compensation	958	186	157
Payments of cash dividends	(8,642)	(8,586)	(9,186)
Stock repurchases	(6,673)	(88,359)	(567)
Net cash provided by (used in) financing activities	(369,614)	(149,917)	31,691
Net increase in cash and cash equivalents	127,861	32,659	201,573
Cash and cash equivalents at beginning of year	593,000	560,341	358,768
Cash and cash equivalents at end of year	$ 720,861	$ 593,000	$ 560,341

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Nov. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Operations. KB Home is a builder of attached and detached single-family residential homes, townhomes and condominiums. As of November 30, 2017 , we conducted ongoing operations in Arizona, California, Colorado, Florida, Nevada, North Carolina and Texas. We also offer various insurance products to our homebuyers in the same markets where we build homes, and provide title services in the majority of our markets located within our Central and Southeast homebuilding reporting segments. Until October 2016, we provided mortgage banking services, including mortgage loan originations, to our homebuyers indirectly through HCM, a joint venture of a subsidiary of ours and a subsidiary of Nationstar. Since June 2017, we have been providing mortgage banking services, including mortgage loan originations, to our homebuyers indirectly through KBHS, an unconsolidated joint venture we formed with Stearns in the 2016 fourth quarter. Basis of Presentation. Our consolidated financial statements have been prepared in accordance with GAAP and include our accounts and those of the consolidated subsidiaries in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. Investments in unconsolidated joint ventures in which we have less than a controlling financial interest are accounted for using the equity method. Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Cash and Cash Equivalents. We consider all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents. Our cash equivalents totaled $481.1 million at November 30, 2017 and $396.1 million at November 30, 2016 . At November 30, 2017 and 2016, the majority of our cash and cash equivalents was invested in interest-bearing bank deposit accounts. Receivables. Receivables are evaluated for collectibility at least quarterly, and allowances for potential losses are established or maintained on applicable receivables when collection is considered doubtful, taking into account historical experience, prevailing economic conditions and other relevant information. Property and Equipment and Depreciation. Property and equipment are recorded at cost and are depreciated over their estimated useful lives, which generally range from two to 10 years, using the straight-line method. Repair and maintenance costs are expensed as incurred. Property and equipment totaled $19.5 million , net of accumulated depreciation of $19.0 million , at November 30, 2017 , and $14.2 million , net of accumulated depreciation of $18.2 million , at November 30, 2016 . Depreciation expense totaled $2.8 million in 2017 , $3.6 million in 2016 and $3.4 million in 2015 . Homebuilding Operations. Revenues from housing and other real estate sales are recognized when sales are closed and title passes to the homebuyer. Sales are closed when all of the following conditions are met: a sale is consummated, a sufficient down payment is received, the earnings process is complete and the collection of any remaining receivables is reasonably assured. Concurrent with the recognition of revenues in our consolidated statements of operations, sales incentives in the form of price concessions on the selling price of a home are recorded as a reduction of revenues, while the costs of sales incentives in the form of free or discounted products or services to homebuyers, including option upgrades and closing cost allowances used to cover a portion of the fees and costs charged to a homebuyer, are reflected as construction and land costs. Construction and land costs are comprised of direct and allocated costs, including estimated future costs for the limited warranty we provide on our homes, and certain amenities within a community. Land acquisition, land development and other common costs are generally allocated on a relative fair value basis to the homes or lots within the applicable community or land parcel. Land acquisition and land development costs include related interest and real estate taxes. H ousing and land inventories are stated at cost, unless the carrying value is determined not to be recoverable, in which case the affected inventories are written down to fair value or fair value less associated costs to sell. Real estate assets, such as our housing and land inventories, are tested for recoverability whenever events or changes in circumstances indicate that their carrying value may not be recoverable. Recoverability is measured by comparing the carrying value of an asset to the undiscounted future net cash flows expected to be generated by the asset. These impairment evaluations are significantly impacted by estimates for the amounts and timing of future revenues, costs and expenses, and other factors. If the carrying value of a real estate asset is determined not to be recoverable, the impairment charge to be recognized is measured by the amount by which the carrying value of the affected asset exceeds its estimated fair value. For land held for sale, if the fair value less associated costs to sell exceeds the asset’s carrying value, no impairment charge is recognized. Capitalized Interest. 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. Fair Value Measurements. Fair value measurements are used for inventories on a nonrecurring basis when events and circumstances indicate that their carrying value is not recoverable. For these real estate assets, fair value is determined based on the estimated future net cash flows discounted for inherent risk associated with each such asset, or other valuation techniques. Our financial instruments consist of cash and cash equivalents, senior notes, convertible senior notes, and mortgages and land contracts due to land sellers and other loans. Fair value measurements of financial instruments are determined by various market data and other valuation techniques as appropriate. When available, we use quoted market prices in active markets to determine fair value. Financial Services Operations. Our financial services reporting segment generates revenues primarily from insurance commissions and title services. Revenues from insurance commissions and title services are recognized when policies are issued, which generally occurs at the time each applicable home is closed. Warranty Costs. We provide a limited warranty on all of our homes. We estimate the costs that may be incurred under each limited warranty and record a liability in the amount of such costs at the time the revenue associated with the sale of each home is recognized. Our primary assumption in estimating the amounts we accrue for warranty costs is that historical claims experience is a strong indicator of future claims experience. Factors that affect our warranty liability include the number of homes delivered, historical and anticipated rates of warranty claims, and cost per claim. We periodically assess the adequacy of our accrued warranty liability and adjust the amount as necessary based on our assessment. Our warranty liability is presented on a gross basis for all years without consideration of recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any. Estimates of recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any, are recorded as receivables when such recoveries are considered probable. Self-Insurance. We self-insure a portion of our overall risk through the use of a captive insurance subsidiary. We also maintain certain other insurance policies. We record liabilities based on the estimated costs required to cover reported claims, claims incurred but not yet reported, and claim adjustment expenses. These estimated costs are based on an actuarial analysis of our historical claims and expense data, as well as industry data. Our self-insurance liability is presented on a gross basis for all years without consideration of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any . Estimates of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any, are recorded as receivables when such recoveries are considered probable. Advertising Costs. We expense advertising costs as incurred. We incurred advertising costs of $34.4 million in 2017 , $32.7 million in 2016 and $33.4 million in 2015 . Legal Fees. Legal fees associated with litigation and similar proceedings that are not expected to provide a benefit in future periods are generally expensed as incurred. Legal fees associated with land acquisition and development and other activities that are expected to provide a benefit in future periods are capitalized to inventories in our consolidated balance sheets as incurred. We expensed legal fees of $14.0 million in 2017 , $13.6 million in 2016 and $11.7 million in 2015 . Stock-Based Compensation. We measure and recognize compensation expense associated with our grant of equity-based awards at an amount equal to the fair value of share-based payments granted under compensation arrangements over the vesting period. We estimate the fair value of stock options and Director Plan SARs granted using the Black-Scholes option-pricing model with assumptions based primarily on historical data. We report the tax benefit resulting from tax deductions in excess of the compensation expense recognized for stock options in our consolidated statements of cash flows as an operating cash outflow and a financing cash inflow. Income Taxes. The provision for, or benefit from, income taxes is calculated using the asset and liability method, under which deferred tax assets and liabilities are recorded based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are evaluated on a quarterly basis to determine if adjustments to the valuation allowance are required. This evaluation is based on the consideration of all available positive and negative evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. The ultimate realization of our deferred tax assets depends primarily on our ability to generate future taxable income during the periods in which the related temporary differences in the financial basis and the tax basis of the assets become deductible. The value of our deferred tax assets in our consolidated balance sheets depends on applicable income tax rates. Accumulated Other Comprehensive Loss. The accumulated balances of other comprehensive loss in the consolidated balance sheets as of November 30, 2017 and 2016 were comprised solely of adjustments recorded directly to accumulated other comprehensive loss related to our benefit plan obligations. Such adjustments are made annually as of November 30, when our benefit plan obligations are remeasured. Earnings Per Share. We compute earnings per share using the two-class method, which is an allocation of earnings between the holders of common stock and a company’s participating security holders. Our outstanding nonvested shares of restricted stock contain non-forfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. We had no other participating securities at November 30, 2017 , 2016 or 2015 . Recent Accounting Pronouncements Not Yet Adopted. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which delayed the effective date of ASU 2014-09 by one year. In 2016 and 2017, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for us beginning December 1, 2018 (with early adoption permitted beginning in our 2018 fiscal year) and allows for full retrospective or modified retrospective methods of adoption. We expect to adopt ASU 2014-09 under the modified retrospective method in our 2019 first quarter. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements and disclosures, and have been involved in industry-specific discussions with the FASB on the treatment of certain items. We do not believe the adoption of ASU 2014-09 will have a material impact on the amount or timing of our homebuilding revenues. We are also continuing to evaluate the impact adopting this guidance may have on other aspects of our business. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 will require lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities are to be expanded to include qualitative along with specific quantitative information. ASU 2016-02 will be effective for us beginning December 1, 2019 (with early adoption permitted). ASU 2016-02 mandates a modified retrospective transition method. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, “Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”), which simplifies several aspects of the accounting for share-based payment transactions. ASU 2016-09 requires excess tax benefits and deficiencies from share-based payment awards to be recorded in income tax expense in the consolidated statement of operations. Currently, excess tax benefits and deficiencies are recognized in paid-in capital in the consolidated balance sheet. This change is required to be applied prospectively. In addition, ASU 2016-09 changes the accounting for statutory tax withholding requirements, classification in the statement of cash flows and provides an option to continue to estimate forfeitures or account for forfeitures as they occur. We will adopt ASU 2016-09 effective December 1, 2017 and will elect to continue to estimate forfeitures. We expect ASU 2016-09 to result in increased volatility to our income tax expense in our consolidated statements of operations in 2018 and future periods, the magnitude of which will depend on, among other things, the price of our common stock and the timing and volume of share-based payment award activity, such as employee exercises of stock options and vesting of restricted stock awards and PSUs. In August 2016, the FASB issued Accounting Standards Update No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 will be effective for us beginning December 1, 2018 (with early adoption permitted). We do not expect the adoption of ASU 2016-15 to have a material impact on our consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 will be effective for us beginning December 1, 2018 (with early adoption permitted) and will be applied using a retrospective transition method to each period presented. We do not expect the adoption of ASU 2016-18 to have a material impact on our consolidated financial statements.

Segment Information

Segment Information	12 Months Ended
	Nov. 30, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information An operating segment is defined as a component of an enterprise for which separate financial information is available and for which segment results are evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. We have identified each of our homebuilding divisions as an operating segment. Our homebuilding operating segments have been aggregated into four homebuilding reporting segments based primarily on similarities in economic and geographic characteristics, product types, regulatory environments, methods used to sell and construct homes and land acquisition characteristics. We also have one financial services reporting segment. Management evaluates segment performance primarily based on segment pretax results. As of November 30, 2017 , our homebuilding reporting segments conducted ongoing operations in the following states: West Coast: California Southwest: Arizona and Nevada Central: Colorado and Texas Southeast: Florida and North Carolina Our homebuilding reporting segments are engaged in the acquisition and development of land primarily for residential purposes and offer a wide variety of homes that are designed to appeal to first-time, first move-up and active adult homebuyers. Our homebuilding operations generate most of their revenues from the delivery of completed homes to homebuyers. They also earn revenues from the sale of land. In 2016, we announced that we had begun a transition out of the Metro Washington, D.C. market that was substantially completed in 2017. Our operations in the Metro Washington, D.C. market consisted of communities in Maryland and Virginia, which were included in our Southeast homebuilding reporting segment, and represented 2% of our consolidated homebuilding revenues for the year ended November 30, 2016. As described in Note 7 – Inventory Impairments and Land Option Contract Abandonments, we recorded inventory impairment and land option contract abandonment charges related to this transition during the year ended November 30, 2016. Our financial services reporting segment offers property and casualty insurance and, in certain instances, earthquake, flood and personal property insurance to our homebuyers in the same markets as our homebuilding reporting segments, and provides title services in the majority of our markets located within our Central and Southeast homebuilding reporting segments. This segment earns revenues primarily from insurance commissions and from the provision of title services. Until October 2016, we provided mortgage banking services, including mortgage loan originations, to our homebuyers indirectly through HCM, a joint venture of a subsidiary of ours and a subsidiary of Nationstar. Through these respective subsidiaries, we have a 49.9% ownership interest and Nationstar has a 50.1% ownership interest in HCM, with Nationstar providing management oversight of HCM’s operations. In the 2016 fourth quarter, we and Nationstar began the process to wind down HCM and transfer HCM’s operations and certain assets to Stearns. In 2016, a subsidiary of ours and a subsidiary of Stearns formed KBHS, an unconsolidated mortgage banking joint venture, to offer mortgage banking services, including mortgage loan originations, to our homebuyers. We and Stearns each have a 50.0% ownership interest, with Stearns providing management oversight of KBHS’ operations. KBHS was operational in all of our served markets as of June 2017. KBHS did not have an impact on our consolidated statement of operations for the year ended November 30, 2016. Our homebuyers may select any lender of their choice to obtain mortgage financing for the purchase of their home. The financial services reporting segment is separately reported in our consolidated financial statements. Corporate and other is a non-operating segment that develops and oversees the implementation of company-wide strategic initiatives and provides support to our reporting segments by centralizing certain administrative functions. Corporate management is responsible for, among other things, evaluating and selecting the geographic markets in which we operate, consistent with our overall business strategy; allocating capital resources to markets for land acquisition and development activities; making major personnel decisions related to employee compensation and benefits; and monitoring the financial and operational performance of our divisions. Corporate and other includes general and administrative expenses related to operating our corporate headquarters. A portion of the expenses incurred by Corporate and other is allocated to our homebuilding reporting segments. Our reporting segments follow the same accounting policies used for our consolidated financial statements as described in Note 1 – Summary of Significant Accounting Policies. The results of each reporting segment are not necessarily indicative of the results that would have occurred had the segment been an independent, stand-alone entity during the periods presented, nor are they indicative of the results to be expected in future periods. The following tables present financial information relating to our homebuilding reporting segments (in thousands): Years Ended November 30, 2017 2016 2015 Revenues: West Coast $ 2,186,411 $ 1,638,078 $ 1,402,264 Southwest 533,052 447,473 398,242 Central 1,188,839 1,018,535 809,738 Southeast 447,963 478,857 410,743 Total $ 4,356,265 $ 3,582,943 $ 3,020,987 Pretax income (loss): West Coast $ 217,649 $ 148,014 $ 127,946 Southwest 45,540 38,807 31,718 Central 116,098 85,924 70,959 Southeast (509 ) (29,385 ) (22,758 ) Corporate and other (101,851 ) (98,511 ) (92,446 ) Total $ 276,927 $ 144,849 $ 115,419 Equity in income (loss) of unconsolidated joint ventures: West Coast $ (1,770 ) $ (1,561 ) $ (1,106 ) Southwest 362 (618 ) (696 ) Central — — — Southeast (1 ) (2 ) (2 ) Total $ (1,409 ) $ (2,181 ) $ (1,804 ) Inventory impairment charges: West Coast $ 13,482 $ 8,209 $ 645 Southwest 3,445 3,191 3,253 Central — 10,633 — Southeast 3,678 27,547 4,132 Total $ 20,605 $ 49,580 $ 8,030 Land option contract abandonments: West Coast $ 3,225 $ 769 $ 352 Southwest — 253 — Central 846 460 225 Southeast 556 1,750 984 Total $ 4,627 $ 3,232 $ 1,561 November 30, 2017 2016 Inventories: Homes under construction West Coast $ 638,639 $ 695,742 Southwest 179,240 130,886 Central 320,205 297,290 Southeast 98,764 122,020 Subtotal 1,236,848 1,245,938 Land under development West Coast 723,761 820,088 Southwest 309,672 268,507 Central 435,373 456,508 Southeast 182,533 182,554 Subtotal 1,651,339 1,727,657 Land held for future development or sale West Coast 233,188 210,910 Southwest 62,475 122,927 Central 12,654 15,439 Southeast 66,882 80,357 Subtotal 375,199 429,633 Total $ 3,263,386 $ 3,403,228 Investments in unconsolidated joint ventures: West Coast $ 53,506 $ 51,612 Southwest 8,784 9,905 Central — — Southeast 2,504 2,499 Total $ 64,794 $ 64,016 Assets: West Coast $ 1,747,786 $ 1,847,279 Southwest 586,666 564,636 Central 901,516 909,497 Southeast 359,307 414,730 Corporate and other 1,433,883 1,384,983 Total $ 5,029,158 $ 5,121,125

Financial Services

Financial Services	12 Months Ended
	Nov. 30, 2017
Segment Reporting [Abstract]
Financial Services	Financial Services The following tables present financial information relating to our financial services reporting segment (in thousands): Years Ended November 30, 2017 2016 2015 Revenues Insurance commissions $ 6,991 $ 6,728 $ 7,137 Title services 5,268 4,975 3,905 Interest income 5 — 1 Total 12,264 11,703 11,043 Expenses General and administrative (3,430 ) (3,817 ) (3,711 ) Operating income 8,834 7,886 7,332 Equity in income (loss) of unconsolidated joint ventures 4,234 (3,420 ) 4,292 Pretax income $ 13,068 $ 4,466 $ 11,624 November 30, 2017 2016 Assets Cash and cash equivalents $ 231 $ 914 Receivables 1,724 1,764 Investments in unconsolidated joint ventures (a) 10,340 7,771 Other assets 62 50 Total assets $ 12,357 $ 10,499 Liabilities Accounts payable and accrued expenses $ 966 $ 2,003 Total liabilities $ 966 $ 2,003 (a) In 2017, we made a $5.3 million capital contribution to KBHS and received a $5.0 million distribution from HCM. The equity in loss of unconsolidated joint ventures in 2016 reflected fewer loan originations and higher overhead costs as well as the wind down of HCM, and included an increase in HCM’s reserves for potential future losses on certain loans it originated. While we believe we will not need to record any additional charges, it is reasonably possible that we may incur further losses with respect to our equity interest in future periods as the wind down of HCM is completed. Although we are currently unable to estimate the amount or range of such losses, if any, we believe they would not have a material impact on our consolidated financial statements . Although KB HOME Mortgage Company, which is 100% owned by us, ceased originating and selling mortgage loans in September 2005, it may be required to repurchase, or provide indemnification with respect to, an individual loan that it funded on or before August 31, 2005 and sold to an investor if the representations or warranties that it made in connection with the sale of the loan are breached, in the event of an early payment default, if the loan does not comply with the underwriting standards or other requirements of the ultimate investor or an applicable insurer, or due to a delinquency or other matters arising in connection with the loan. KB HOME Mortgage Company was not required to repurchase any loans in the past few years.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Nov. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts): Years Ended November 30, 2017 2016 2015 Numerator: Net income $ 180,595 $ 105,615 $ 84,643 Less: Distributed earnings allocated to nonvested restricted stock (56 ) (45 ) (33 ) Less: Undistributed earnings allocated to nonvested restricted stock (1,121 ) (508 ) (273 ) Numerator for basic earnings per share 179,418 105,062 84,337 Effect of dilutive securities: Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes 2,654 2,667 2,667 Add: Undistributed earnings allocated to nonvested restricted stock 1,121 508 273 Less: Undistributed earnings reallocated to nonvested restricted stock (979 ) (453 ) (244 ) Numerator for diluted earnings per share $ 182,214 $ 107,784 $ 87,033 Denominator: Weighted average shares outstanding — basic 85,842 85,706 92,054 Effect of dilutive securities: Share-based payments 4,072 2,170 2,401 Convertible senior notes 8,402 8,402 8,402 Weighted average shares outstanding — diluted 98,316 96,278 102,857 Basic earnings per share $ 2.09 $ 1.23 $ .92 Diluted earnings per share $ 1.85 $ 1.12 $ .85 As discussed in Note 13 – Notes Payable, in 2013, we issued the 1.375% Convertible Senior Notes due 2019 that, from issuance, have been convertible into shares of our common stock at a conversion rate of 36.5297 shares for each $1,000 principal amount of the notes. Outstanding stock options to purchase 1.6 million , 7.3 million and 8.0 million shares of common stock were excluded from the diluted earnings per share calculations for 2017 , 2016 and 2015 , respectively, because the effect of their inclusion in each case would be antidilutive. In 2017, the decrease in anti-dilutive shares and the increase in dilutive shares, each as compared to 2016, were primarily the result of a year-over-year increase in the average price of our common stock. Contingently issuable shares associated with outstanding PSUs were not included in the basic earnings per share calculations for the periods presented, as the applicable vesting conditions had not been satisfied.

Receivables

Receivables	12 Months Ended
	Nov. 30, 2017
Receivables [Abstract]
Receivables	Receivables Receivables consisted of the following (in thousands): November 30, 2017 2016 Due from utility companies, improvement districts and municipalities (a) $ 113,744 $ 102,780 Recoveries related to self-insurance and other legal claims 91,763 84,476 Refundable deposits and bonds 13,829 13,665 Recoveries related to warranty and other claims 4,073 14,609 Other 33,797 28,745 Subtotal 257,206 244,275 Allowance for doubtful accounts (12,993 ) (12,610 ) Total $ 244,213 $ 231,665 (a) These receivables typically relate to infrastructure improvements we make with respect to our communities. We are generally reimbursed for the cost of such improvements when they are accepted by the utility company, improvement district or municipality, or after certain events occur, depending on the terms of the applicable agreements. These events may include, but are not limited to, the connection of utilities or the issuance of bonds by the respective improvement districts or municipalities.

Inventories

Inventories	12 Months Ended
	Nov. 30, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in thousands): November 30, 2017 2016 Homes under construction $ 1,236,848 $ 1,245,938 Land under development 1,651,339 1,727,657 Land held for future development or sale (a) 375,199 429,633 Total $ 3,263,386 $ 3,403,228 (a) Land held for sale totaled $21.8 million at November 30, 2017 and $63.4 million at November 30, 2016 . Homes under construction is comprised of costs associated with homes in various stages of construction and includes direct construction and related land acquisition and land development costs. Land under development primarily consists of land acquisition and land development costs. Land development costs also include capitalized interest and real estate taxes. When home construction begins, the associated land acquisition and land development costs are included in homes under construction. Land held for future development principally reflects land acquisition and land development costs related to land where development activity has been suspended or has not yet begun but is expected to occur in the future. These assets held for future development are located in various submarkets where conditions do not presently support further investment or development, or are subject to a building permit moratorium or regulatory restrictions, or are portions of larger land parcels that we plan to build out over several years and/or that have not yet been entitled. We may also suspend development activity if we believe it will result in greater returns and/or maximize the economic performance of a particular community by delaying improvements for a period of time to, for instance, allow earlier phases of a long-term, multi-phase community or a neighboring community to generate or extend sales momentum, or for market conditions to improve. In some instances, we may activate or resume development activity for such inventory to accelerate sales and/or our return on investment. We have activated assets previously held for future development in certain markets in 2017 and 2016 as part of our Returns-Focused Growth Plan. Land is generally considered held for sale when management commits to a plan to sell the land; the land is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; the sale of the land is expected to be completed within one year ; the land is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and it is unlikely that the plan to sell will be withdrawn or that significant changes to the plan will be made. Interest and real estate taxes are not capitalized on land held for future development or sale. In 2016, we changed our strategy related to certain land parcels that were either held for future development or under development and decided to monetize these assets through land sales, rather than build and sell homes on these parcels as previously intended. These parcels, which were classified as land held for sale at November 30, 2016, included land in excess of our near-term requirements; land where we believed the necessary incremental investment in development was not justified; land located in areas outside of our served markets; and/or land entitled for certain product types that were not aligned with our primary product offerings. The majority of these land parcels were located in our Southeast homebuilding reporting segment. As discussed in Note 7 – Inventory Impairments and Land Option Contract Abandonments, we recognized inventory impairment charges in 2016 to reduce the carrying values of these land parcels to their estimated fair values, less associated costs to sell. During 2017, we changed our strategy related to certain of these land parcels located in improving housing markets where we determined the incremental investment in development to be justified and decided to build and sell homes on these parcels. Such land parcels were classified as either land under development or land held for future development (in the case of later phases of a long-term, multi-phase community) as of November 30, 2017. Land held for sale as of November 30, 2017 consisted of land parcels that either have been contracted to sell or that we are continuing to actively market and/or intend to sell within one year . Our interest costs were as follows (in thousands): Years Ended November 30, 2017 2016 2015 Capitalized interest at beginning of year $ 306,723 $ 288,442 $ 266,668 Interest incurred (a) 177,171 185,466 186,885 Interest expensed (a) (6,307 ) (5,900 ) (21,856 ) Interest amortized to construction and land costs (b) (215,396 ) (161,285 ) (143,255 ) Capitalized interest at end of year (c) $ 262,191 $ 306,723 $ 288,442 (a) Interest incurred and interest expensed for the year ended November 30, 2017 included a charge of $5.7 million for the early extinguishment of debt. (b) Interest amortized to construction and land costs for the years ended November 30, 2017 , 2016 and 2015 included $4.9 million , $.7 million and $16.4 million , respectively, related to land sales during the periods. (c) Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.

Inventory Impairments and Land

Inventory Impairments and Land Option Contract Abandonments	12 Months Ended
	Nov. 30, 2017
Inventory Impairments and Land Option Contract Abandonments [Abstract]
Inventory Impairments and Land Option Contract Abandonments	Inventory Impairments and Land Option Contract Abandonments E ach community or land parcel in our owned inventory is assessed to determine if indicators of potential impairment exist. Impairment indicators are assessed separately for each community or land parcel on a quarterly basis and include, but are not limited to, the following: significant decreases in net orders, average selling prices, volume of homes delivered, gross profit margins on homes delivered or projected gross profit margins on homes in backlog or future deliveries; significant increases in budgeted land development and home construction costs or cancellation rates; or projected losses on expected future land sales. If indicators of potential impairment exist for a community or land parcel, the identified asset is evaluated for recoverability. We evaluated 51 , 68 and 35 communities or land parcels for recoverability during the years ended November 30, 2017 , 2016 and 2015 , respectively. The carrying value of those communities or land parcels evaluated was $456.9 million , $423.1 million and $286.3 million during the years ended November 30, 2017 , 2016 and 2015 , respectively. The communities or land parcels evaluated during 2017 included certain communities or land parcels previously held for future development that were reactivated during 2016 or 2017 as part of our efforts to improve our asset efficiency under our Returns-Focused Growth Plan. In 2016, the year-over-year increase in the number and carrying value of communities evaluated for impairment reflected our decisions to make changes in our operational strategies for specific communities or land parcels aimed at more quickly monetizing our investment in those inventories, as discussed further below. As impairment indicators are assessed on a quarterly basis, some of the communities or land parcels evaluated during these years were evaluated in more than one quarterly period. Communities or land parcels evaluated for recoverability in more than one quarterly period are counted only once for each applicable year. In some cases, we have recognized inventory impairment charges for particular communities or land parcels in multiple years. Inventory impairment charges are included in construction and land costs in our consolidated statements of operations. When an indicator of potential impairment is identified for a community or land parcel, we test the asset for recoverability by comparing the carrying value of the asset to the undiscounted future net cash flows expected to be generated by the asset. The undiscounted future net cash flows are impacted by then-current conditions and trends in the market in which the asset is located as well as factors known to us at the time the cash flows are calculated. These factors may include recent trends in our orders, backlog, cancellation rates and volume of homes delivered, as well as our expectations related to the following: product offerings; market supply and demand, including estimated average selling prices and related price appreciation; and land development, home construction and overhead costs to be incurred and related cost inflation. With respect to the years ended November 30, 2017 and 2016 , these expectations reflected our experience that, notwithstanding fluctuations in our company-wide net orders, backlog levels, homes delivered and housing gross profit margin, and the wind down of our Metro Washington, D.C. operations during those periods, on a year-over-year basis, conditions in the markets where assessed assets were located were generally stable or improved, with no significant deterioration identified or projected, as to revenue and cost drivers that would prevent or otherwise impact recoverability. Based on this experience, and taking into account the generally healthy conditions in many of our served markets for new home sales, our inventory assessments as of November 30, 2017 considered an expected steady overall sales pace and average selling price performance for 2018 and beyond relative to the pace and performance in recent quarters. Given the inherent challenges and uncertainties in forecasting future results, our inventory assessments at the time they are made take into consideration whether a community or land parcel is active, meaning whether it is open for sales and/or undergoing development, or whether it is being held for future development or held for sale. Due to the short-term nature of active communities and land held for sale, as compared to land held for future development, our inventory assessments generally assume the continuation of then-current market conditions, subject to identifying information suggesting significant sustained changes in such conditions. Our assessments of active communities, at the time made, generally anticipate net orders, average selling prices, volume of homes delivered and costs for land development and home construction to continue at or near then-current levels through the particular asset’s estimated remaining life. Inventory assessments for our land held for future development consider then-current market conditions as well as subjective forecasts regarding the timing and costs of land development and home construction and related cost inflation; the product(s) to be offered; and the net orders, volume of homes delivered, and selling prices and related price appreciation of the offered product(s) when an associated community is anticipated to open for sales. We evaluate various factors to develop these forecasts, including the availability of and demand for homes and finished lots within the relevant marketplace; historical, current and expected future sales trends for the marketplace; and third-party data, if available. The estimates, expectations and assumptions used in each of our inventory assessments are specific to each community or land parcel based on what we believe are reasonable forecasts for their particular performance, and may vary among communities or land parcels and may vary over time. We record an inventory impairment charge on a community or land parcel that is active or held for future development when indicators of potential impairment exist and the carrying value of the real estate asset is greater than the undiscounted future net cash flows the asset is expected to generate. These real estate assets are written down to fair value, which is primarily determined based on the estimated future net cash flows discounted for inherent risk associated with each such asset, or other valuation techniques. Inputs used in our calculation of estimated discounted future net cash flows are specific to each affected real estate asset and are based on our expectations for each such asset as of the applicable measurement date, including, among others, expectations related to average selling prices and volume of homes delivered. The discount rates we used were impacted by one or more of the following at the time the calculation was made: the risk-free rate of return; expected risk premium based on estimated land development, home construction and delivery timelines; market risk from potential future price erosion; cost uncertainty due to land development or home construction cost increases; and other risks specific to the asset or conditions in the market in which the asset is located. We record an inventory impairment charge on land held for sale when the carrying value of a land parcel is greater than its fair value. These real estate assets are written down to fair value, less associated costs to sell. The estimated fair values of such assets are generally based on bona fide letters of intent from outside parties, executed sales contracts, broker quotes or similar information. The following table summarizes ranges for significant quantitative unobservable inputs we utilized in our fair value measurements with respect to impaired communities, other than land held for sale, written down to fair value during the years presented: Years Ended November 30, Unobservable Input (a) 2017 2016 2015 Average selling price $207,100 - $1,576,500 $216,200 - $977,400 $178,100 - $509,400 Deliveries per month 1 - 4 1 - 4 2 - 4 Discount rate 17% - 18% 17% - 20% 17% - 20% (a) The ranges of inputs used in each period primarily reflect differences between the housing markets where each impacted community is located, rather than fluctuations in prevailing market conditions. Based on the results of our evaluations, we recognized inventory impairment charges of $20.6 million in 2017 related to 10 communities with a post-impairment fair value of $38.4 million . In 2016, we recognized inventory impairment charges of $49.6 million related to 30 communities or land parcels with a post-impairment fair value of $39.5 million . The impairment charges in 2017 and 2016 reflected our decisions to make changes in our operational strategies aimed at more quickly monetizing our investment in those communities or land parcels primarily through lowering home selling prices; or activating, and thereby accelerating the overall timing and pace for selling, building and delivering homes in, communities on land previously held for future development; or through land sales, as applicable for each particular community or land parcel. If we change our strategy for any given asset, it is possible that we may recognize additional inventory impairment charges. In 2017, the inventory impairment charges reflected our decisions to accelerate the monetization of our investment in one community in California primarily through lowering selling prices, and to activate nine communities in Arizona, California, Florida and Nevada that were previously held for future development. In 2016, of the total inventory impairment charges, $36.7 million related to certain land previously held for future development that we decided to monetize through land sales as discussed in Note 6 – Inventories; then-planned land sales in connection with the wind down of our Metro Washington, D.C. operations; and the sales of our last remaining land parcels in the Rio Grande Valley area of Texas. The remaining $12.9 million of inventory impairment charges reflected our decisions to activate certain communities in California, Arizona and Florida previously held for future development, and to accelerate the monetization of our investment in certain other communities in California and Metro Washington, D.C. primarily through lowering selling prices. In 2015, we recognized inventory impairment charges of $8.0 million related to four communities with a post-impairment fair value of $12.0 million , where we decided to monetize our investments more quickly primarily through lowering home selling prices or activations of certain communities that had been held for future development. As of November 30, 2017 , the aggregate carrying value of our inventory that had been impacted by inventory impairment charges was $177.8 million , representing 24 communities and various other land parcels. As of November 30, 2016 , the aggregate carrying value of our inventory that had been impacted by inventory impairment charges was $215.3 million , representing 28 communities and various other land parcels. Our inventory controlled under land option contracts and other similar contracts is assessed to determine whether it continues to meet our investment return standards. Assessments are made separately for each optioned land parcel on a quarterly basis and are affected by the following factors relative to the market in which the asset is located, among others: current and/or anticipated net orders, average selling prices and volume of homes delivered; estimated land development and home construction costs; and projected profitability on expected future housing or land sales. When a decision is made not to exercise certain land option contracts and other similar contracts due to market conditions and/or changes in our marketing strategy, we write off the related inventory costs, including non-refundable deposits and unrecoverable pre-acquisition costs. Based on the results of our assessments, we recognized land option contract abandonment charges of $4.6 million corresponding to 710 lots in 2017, $3.2 million corresponding to 744 lots in 2016 and $1.6 million corresponding to 1,166 lots in 2015. Of the land option contract abandonment charges recognized for 2016, $1.4 million related to the wind down of our Metro Washington, D.C. operations. Land option contract abandonment charges are included in construction and land costs in our consolidated statements of operations. The estimated remaining life of each community or land parcel in our inventory depends on various factors, such as the total number of lots remaining; the expected timeline to acquire and entitle land and develop lots to build homes; the anticipated future net order and cancellation rates; and the expected timeline to build and deliver homes sold. While it is difficult to determine a precise timeframe for any particular inventory asset, based on current market conditions and expected delivery timelines, we estimate our inventory assets’ remaining operating lives to range generally from one year to in excess of 10 years, and expect to realize, on an overall basis, the majority of our inventory balance as of November 30, 2017 within five years. Due to the judgment and assumptions applied in our inventory impairment and land option contract abandonment assessment processes, and in our estimations of the remaining operating lives of our inventory assets and the realization of our inventory balances, particularly as to land held for future development, it is possible that actual results could differ substantially from those estimated.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Nov. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Unconsolidated Joint Ventures. We participate in joint ventures from time to time that conduct land acquisition, land development and/or other homebuilding activities in various markets where our homebuilding operations are located. Our investments in these joint ventures may create a variable interest in a VIE, depending on the contractual terms of the arrangement. We analyze our joint ventures under the variable interest model to determine whether they are VIEs and, if so, whether we are the primary beneficiary. Based on our analyses, we determined that one of our joint ventures at November 30, 2017 and 2016 was a VIE, but we were not the primary beneficiary of the VIE. All of our joint ventures at November 30, 2017 and 2016 were unconsolidated and accounted for under the equity method because we did not have a controlling financial interest. Land Option Contracts and Other Similar Contracts. In the ordinary course of our business, we enter into land option contracts and other similar contracts with third parties and unconsolidated entities to acquire rights to land for the construction of homes. The use of these contracts generally allows us to reduce the market risks associated with direct land ownership and development, and reduce our capital and financial commitments, including interest and other carrying costs. Under these contracts, we typically make a specified option payment or earnest money deposit in consideration for the right to purchase land in the future, usually at a predetermined price. We analyze each of our land option contracts and other similar contracts under the variable interest model to determine whether the land seller is a VIE and, if so, whether we are the primary beneficiary. Although we do not have legal title to the underlying land, we are required to consolidate a VIE if we are the primary beneficiary. In determining whether we are the primary beneficiary, we consider, among other things, whether we have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. Such activities would include, among other things, determining or limiting the scope or purpose of the VIE, selling or transferring property owned or controlled by the VIE, or arranging financing for the VIE. As a result of our analyses, we determined that as of November 30, 2017 and 2016 , we were not the primary beneficiary of any VIEs from which we have acquired rights to land under land option contracts and other similar contracts. We perform ongoing reassessments of whether we are the primary beneficiary of a VIE. The following table presents a summary of our interests in land option contracts and other similar contracts (in thousands): November 30, 2017 November 30, 2016 Cash Deposits Aggregate Purchase Price Cash Deposits Aggregate Purchase Price Unconsolidated VIEs $ 43,171 $ 653,858 $ 24,910 $ 641,642 Other land option contracts and other similar contracts 21,531 440,229 17,919 431,954 Total $ 64,702 $ 1,094,087 $ 42,829 $ 1,073,596 In addition to the cash deposits presented in the table above, our exposure to loss related to our land option contracts and other similar contracts with third parties and unconsolidated entities consisted of pre-acquisition costs of $26.8 million at November 30, 2017 and $56.0 million at November 30, 2016 . These pre-acquisition costs and cash deposits were included in inventories in our consolidated balance sheets. For land option contracts and other similar contracts where the land seller entity is not required to be consolidated under the variable interest model, we consider whether such contracts should be accounted for as financing arrangements. Land option contracts and other similar contracts that may be considered financing arrangements include those we enter into with third-party land financiers or developers in conjunction with such third parties acquiring a specific land parcel(s) on our behalf, at our direction, and those with other landowners where we or our designee make improvements to the optioned land parcel(s) during the applicable option period. For these land option contracts and other similar contracts, we record the remaining purchase price of the associated land parcel(s) in inventories in our consolidated balance sheets with a corresponding financing obligation if we determine that we are effectively compelled to exercise the option under the land option contract and purchase the optioned land parcel(s). In making this determination with respect to a land option contract, we consider the non-refundable deposit(s) we have made and any non-reimbursable expenditures we have incurred for land improvement activities or other items up to the assessment date; additional costs associated with abandoning the contract; and our commitments, if any, to incur non-reimbursable costs associated with the contract. As a result of our evaluations of land option contracts and other similar contracts for financing arrangements, we recorded inventories in our consolidated balance sheets, with a corresponding increase to accrued expenses and other liabilities, of $5.7 million at November 30, 2017 and $50.5 million at November 30, 2016 .

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	12 Months Ended
	Nov. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures We have investments in unconsolidated joint ventures that conduct land acquisition, land development and/or other homebuilding activities in various markets where our homebuilding operations are located. We and our unconsolidated joint venture partners make initial and/or ongoing capital contributions to these unconsolidated joint ventures, typically on a pro rata basis, according to our respective equity interests. The obligations to make capital contributions are governed by each such unconsolidated joint venture’s respective operating agreement and related governing documents. Our partners in these unconsolidated joint ventures are unrelated homebuilders, and/or land developers and other real estate entities, or commercial enterprises. These investments are designed primarily to reduce market and development risks and to increase the number of lots we own or control. In some instances, participating in unconsolidated joint ventures has enabled us to acquire and develop land that we might not otherwise have had access to due to a project’s size, financing needs, duration of development or other circumstances. While we consider our participation in unconsolidated joint ventures as potentially beneficial to our homebuilding activities, we do not view such participation as essential. We typically have obtained rights to acquire portions of the land held by the unconsolidated joint ventures in which we currently participate. When an unconsolidated joint venture sells land to our homebuilding operations, we defer recognition of our share of such unconsolidated joint venture’s earnings (losses) until a home sale is closed and title passes to a homebuyer, at which time we account for those earnings (losses) as a reduction (increase) to the cost of purchasing the land from the unconsolidated joint venture. We defer recognition of our share of such unconsolidated joint venture losses only to the extent profits are to be generated from the sale of the home to a homebuyer. We share in the earnings (losses) of these unconsolidated joint ventures generally in accordance with our respective equity interests. In some instances, we recognize earnings (losses) related to our investment in an unconsolidated joint venture that differ from our equity interest in the unconsolidated joint venture. This typically arises from our deferral of the unconsolidated joint venture’s earnings (losses) from land sales to us, or other items. The following table presents combined condensed information from the statements of operations of our unconsolidated joint ventures (in thousands): Years Ended November 30, 2017 2016 2015 Revenues $ 47,431 $ 46,389 $ 15,322 Construction and land costs (47,459 ) (50,566 ) (23,123 ) Other expenses, net (4,749 ) (4,465 ) (3,360 ) Loss $ (4,777 ) $ (8,642 ) $ (11,161 ) For the years ended November 30, 2017 , 2016 and 2015, combined revenues and construction and land costs were generated primarily from land sales. The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands): November 30, 2017 2016 Assets Cash $ 21,193 $ 31,928 Receivables 688 882 Inventories 145,519 165,385 Other assets 1,398 629 Total assets $ 168,798 $ 198,824 Liabilities and equity Accounts payable and other liabilities $ 25,426 $ 19,880 Notes payable (a) 20,040 44,381 Equity 123,332 134,563 Total liabilities and equity $ 168,798 $ 198,824 (a) As of November 30, 2017 and 2016, two and one of our unconsolidated joint ventures, respectively, had separate construction loan agreements with different third-party lenders to finance their respective land development activities. The outstanding debt under these agreements is secured by the corresponding underlying property and related project assets and is non-recourse to us. Of this outstanding secured debt at November 30, 2017 , $19.8 million is scheduled to mature in August 2018 and the remainder is scheduled to mature in February 2020. None of our other unconsolidated joint ventures had outstanding debt at November 30, 2017 or 2016 . The following table presents additional information relating to our investments in unconsolidated joint ventures (dollars in thousands): November 30, 2017 2016 Number of investments in unconsolidated joint ventures 7 7 Investments in unconsolidated joint ventures $ 64,794 $ 64,016 Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts 377 471 We and our partners in the unconsolidated joint ventures that have the above-noted construction loan agreements provide certain guarantees and indemnities to the applicable lender, including a guaranty to complete the construction of improvements for the applicable project; a guaranty against losses the lender suffers due to certain bad acts or failures to act by the unconsolidated joint venture or its partners; an indemnity of the lender from environmental issues; and in one case, a guaranty of interest payments on the outstanding balance of the secured debt under the construction loan agreement. In each instance, our actual responsibility under the foregoing guaranty and indemnity obligations is limited to our pro rata interest in the unconsolidated joint venture. We do not have a guaranty or any other obligation to repay or to support the value of the collateral underlying the outstanding secured debt of these unconsolidated joint ventures. However, various financial and non-financial covenants apply with respect to the outstanding secured debt and the related guaranty and indemnity obligations, and a failure to comply with such covenants could result in a default and cause an applicable lender to seek to enforce such guaranty and indemnity obligations, if and as may be applicable. As of November 30, 2017 , we were in compliance with the applicable terms of our relevant covenants with respect to the construction loan agreements. We do not believe that our existing exposure under our guaranty and indemnity obligations related to the outstanding secured debt of these unconsolidated joint ventures is material to our consolidated financial statements. Of the unconsolidated joint venture lots controlled under land option contracts and other similar contracts at November 30, 2017 , we are committed to purchase 79 lots from one of our unconsolidated joint ventures in quarterly takedowns over the next three years for an aggregate purchase price of $35.2 million under agreements that we entered into with the unconsolidated joint venture in 2016.

Other Assets

Other Assets	12 Months Ended
	Nov. 30, 2017
Other Assets [Abstract]
Other Assets	Other Assets Other assets consisted of the following (in thousands): November 30, 2017 2016 Cash surrender value of corporate-owned life insurance contracts $ 75,236 $ 70,829 Property and equipment, net 19,521 14,240 Prepaid expenses 5,360 4,894 Debt issuance costs associated with unsecured revolving credit facility 2,381 1,182 Total $ 102,498 $ 91,145

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Nov. 30, 2017
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following (in thousands): November 30, 2017 2016 Self-insurance and other legal liabilities $ 222,808 $ 170,988 Employee compensation and related benefits 143,992 130,352 Warranty liability 69,798 56,682 Accrued interest payable 65,343 67,411 Inventory-related obligations (a) 30,108 82,682 Real estate and business taxes 16,874 14,370 Customer deposits 16,863 18,175 Other 10,144 10,336 Total $ 575,930 $ 550,996 (a) Represents liabilities for financing arrangements discussed in Note 8 – Variable Interest Entities, as well as liabilities for fixed or determinable amounts associated with TIFE assessments. As homes are delivered, the obligation to pay the remaining TIFE assessments associated with each underlying lot is transferred to the homebuyer. As such, these assessment obligations will be paid by us only to the extent we do not deliver homes on applicable lots before the related TIFE obligations mature.

Income Taxes

Income Taxes	12 Months Ended
	Nov. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income Tax Expense. The components of the income tax expense in our consolidated statements of operations are as follows (in thousands): Federal State Total 2017 Current $ (2,800 ) $ (3,000 ) $ (5,800 ) Deferred (86,300 ) (17,300 ) (103,600 ) Income tax expense $ (89,100 ) $ (20,300 ) $ (109,400 ) 2016 Current $ (1,900 ) $ (1,000 ) $ (2,900 ) Deferred (28,700 ) (12,100 ) (40,800 ) Income tax expense $ (30,600 ) $ (13,100 ) $ (43,700 ) 2015 Current $ (1,400 ) $ (2,000 ) $ (3,400 ) Deferred (35,900 ) (3,100 ) (39,000 ) Income tax expense $ (37,300 ) $ (5,100 ) $ (42,400 ) Our income tax expense for 2017, 2016 and 2015 reflected the favorable net impact of $4.9 million , $15.2 million and $5.6 million , respectively, of federal energy tax credits we earned from building energy-efficient homes, resulting in effective tax rates of 37.7% for 2017, 29.3% for 2016 and 33.4% for 2015. Most of the federal energy tax credits for 2017 and 2016 resulted from legislation enacted in 2015 that extended the availability of a business tax credit for building new energy-efficient homes through December 31, 2016. There has not been any new legislation enacted extending the business tax credit beyond December 31, 2016. Deferred Tax Assets, Net. Deferred income taxes result from temporary differences in the financial and tax basis of assets and liabilities. Significant components of our deferred tax liabilities and assets are as follows (in thousands): November 30, 2017 2016 Deferred tax liabilities: Capitalized expenses $ 98,147 $ 116,551 State taxes 59,174 65,766 Other 313 286 Total 157,634 182,603 Deferred tax assets: NOLs from 2006 through 2017 236,273 350,329 Tax credits 208,841 197,766 Inventory impairment and land option contract abandonment charges 139,737 176,555 Employee benefits 100,200 102,321 Warranty, legal and other accruals 60,238 51,448 Capitalized expenses 39,195 36,950 Partnerships and joint ventures 14,784 16,293 Depreciation and amortization 7,333 8,530 Other 8,270 6,196 Total 814,871 946,388 Valuation allowance (23,600 ) (24,800 ) Total 791,271 921,588 Deferred tax assets, net $ 633,637 $ 738,985 Reconciliation of Expected Income Tax Expense. The income tax expense computed at the statutory U.S. federal income tax rate and the income tax expense provided in our consolidated statements of operations differ as follows (dollars in thousands): Years Ended November 30, 2017 2016 2015 $ % $ % $ % Income tax expense computed at statutory rate $ (101,499 ) (35.0 )% $ (52,260 ) (35.0 )% $ (44,462 ) (35.0 )% Tax credits 6,227 2.2 4,447 3.0 6,926 5.5 Valuation allowance for deferred tax assets 1,200 .4 12,982 8.7 3,356 2.6 Depreciation and amortization 362 .1 1,842 1.2 3,183 2.5 Basis in unconsolidated joint ventures 74 — (86 ) (.1 ) 1,617 1.3 NOL reconciliation (2,210 ) (.8 ) (3,691 ) (2.5 ) (3,379 ) (2.7 ) State taxes, net of federal income tax benefit (14,450 ) (4.9 ) (7,511 ) (5.0 ) (5,155 ) (4.1 ) Other, net 896 .3 577 .4 (4,486 ) (3.5 ) Income tax expense $ (109,400 ) (37.7 )% $ (43,700 ) (29.3 )% $ (42,400 ) (33.4 )% Deferred Tax Asset Valuation Allowance. We evaluate our deferred tax assets quarterly to determine if adjustments to our valuation allowance are required based on the consideration of all available positive and negative evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. Our evaluation considers, among other factors, our historical operating results, our expectation of future profitability, the duration of the applicable statutory carryforward periods, and conditions in the housing market and the broader economy. In our evaluation, we give more significant weight to evidence that is objective in nature as compared to subjective evidence. Also, more significant weight is given to evidence that directly relates to our then-current financial performance as compared to indirect or less current evidence. The ultimate realization of our deferred tax assets depends primarily on our ability to generate future taxable income during the periods in which the related temporary differences in the financial basis and the tax basis of the assets become deductible. The value of our deferred tax assets in our consolidated balance sheets depends on applicable income tax rates. Our deferred tax assets of $657.2 million at November 30, 2017 and $763.8 million at November 30, 2016 were partially offset by valuation allowances of $23.6 million and $24.8 million , respectively. The deferred tax asset valuation allowances at November 30, 2017 and 2016 were primarily related to certain state NOLs that had not met the “more likely than not” realization standard at those dates. As of November 30, 2017 , we would need to generate approximately $1.6 billion of pretax income in future periods before 2038 to realize our deferred tax assets. Based on the evaluation of our deferred tax assets as of November 30, 2017 , we determined that most of our deferred tax assets would be realized. In 2017, we reduced our valuation allowance by $1.2 million primarily to account for state NOLs that met the “more likely than not” realization standard. In 2016, we reduced our valuation allowance by $13.0 million , which reflected the expiration of foreign tax credits and the release of a valuation allowance associated with state NOLs that met the “more likely than not” realization standard, partly offset by the establishment of a valuation allowance for state NOLs related to the wind down of our Metro Washington, D.C. operations. In 2015, the valuation allowance was reduced by $3.4 million to account for the expiration of foreign tax credits and state NOLs that were not utilized. We will continue to evaluate both the positive and negative evidence on a quarterly basis in determining the need for a valuation allowance with respect to our deferred tax assets. The accounting for deferred tax assets is based upon estimates of future results. Changes in positive and negative evidence, including differences between estimated and actual results, could result in changes in the valuation of our deferred tax assets that could have a material impact on our consolidated financial statements. Changes in existing federal and state tax laws and corporate income tax rates could also affect actual tax results and the realization of deferred tax assets over time. Certain effects of the federal tax law changes under the TCJA, enacted December 22, 2017, are discussed in Note 24 — Subsequent Event. The majority of the tax benefits associated with our NOLs can be carried forward for 20 years and applied to offset future taxable income. Our federal NOL carryforwards of $105.8 million , if not utilized, will begin to expire in 2031 through 2033 . Depending on their applicable statutory period, the state NOL carryforwards of $130.4 million , if not utilized, will begin to expire between 2018 and 2037 . State NOL carryforwards of $.5 million expired in 2016. In addition, $112.4 million of our tax credits, if not utilized, will begin to expire in 2026 through 2037 . Included in the $112.4 million are $3.2 million of investment tax credits, of which $2.4 million and $.8 million will expire in 2026 and 2027 , respectively. Unrecognized Tax Benefits. Gross unrecognized tax benefits are the differences between a tax position taken or expected to be taken in a tax return, and the benefit recognized for accounting purposes. A reconciliation of the beginning and ending balances of gross unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands): Years Ended November 30, 2017 2016 2015 Balance at beginning of year $ 56 $ 56 $ 206 Reductions due to lapse of statute of limitations — — (150 ) Balance at end of year $ 56 $ 56 $ 56 W e recognize accrued interest and penalties related to unrecognized tax benefits in our consolidated financial statements as a component of the provision for income taxes. As of each of November 30, 2017 , 2016 and 2015 , there was a balance of $.1 million of gross unrecognized tax benefits (including interest and penalties) that, if recognized, would affect our effective income tax rate. Our liabilities for unrecognized tax benefits at November 30, 2017 and 2016 are included in accrued expenses and other liabilities in our consolidated balance sheets. As of November 30, 2017 and 2016 , there were no tax positions for which the ultimate deductibility is highly certain but the timing of such deductibility is uncertain. Our total accrued interest and penalties related to unrecognized income tax benefits was zero at both November 30, 2017 and 2016 . Because of the impact of deferred tax accounting, other than interest and penalties, the disallowance of the shorter deductibility period would not affect our annual effective tax rate, but would accelerate the payment of cash to a tax authority to an earlier period. As of November 30, 2017 , our gross unrecognized tax benefits (including interest and penalties) totaled $.1 million . We anticipate that these gross unrecognized tax benefits will decrease by an amount ranging from zero to $.1 million during the 12 months from this reporting date due to the expiration of the applicable statute of limitations. The fiscal years ending 2014 and later remain open to federal examinations, while 2013 and later remain open to state examinations. The benefits of our deferred tax assets, including our NOLs, built-in losses and tax credits would be reduced or potentially eliminated if we experienced an “ownership change” under Section 382. Based on our analysis performed as of November 30, 2017 , we do not believe that we have experienced an ownership change as defined by Section 382, and, therefore, the NOLs, built-in losses and tax credits we have generated should not be subject to a Section 382 limitation as of this reporting date.

Notes Payable

Notes Payable	12 Months Ended
	Nov. 30, 2017
Debt Disclosure [Abstract]
Notes Payable	Notes Payable Notes payable consisted of the following (in thousands): November 30, 2017 2016 Mortgages and land contracts due to land sellers and other loans (at interest rates of 1% to 3% at November 30, 2017 and 1% to 7% at November 30, 2016) $ 10,203 $ 66,927 9.10% Senior notes due September 15, 2017 — 263,932 7 1/4% Senior notes due June 15, 2018 299,867 299,647 4.75% Senior notes due May 15, 2019 398,397 397,364 8.00% Senior notes due March 15, 2020 346,238 344,811 7.00% Senior notes due December 15, 2021 446,608 445,911 7.50% Senior notes due September 15, 2022 347,234 346,774 7.625% Senior notes due May 15, 2023 247,726 247,404 1.375% Convertible senior notes due February 1, 2019 228,572 227,379 Total $ 2,324,845 $ 2,640,149 The carrying amounts of our senior notes listed above are net of debt issuance costs and discounts, which totaled $15.4 million at November 30, 2017 and $21.8 million at November 30, 2016 . Unsecured Revolving Credit Facility. On July 27, 2017, we entered into an amendment to the Credit Facility that increased the commitment from $275.0 million to $500.0 million and extended its maturity from August 7, 2019 to July 27, 2021 . The Credit Facility, as amended, contains an uncommitted accordion feature under which its aggregate principal amount of available loans can be increased to a maximum of $600.0 million under certain conditions, including obtaining additional bank commitments. The Credit Facility also contains a sublimit of $250.0 million for the issuance of letters of credit, which may be utilized in combination with, or to replace, the LOC Facility. Interest on amounts borrowed under the Credit Facility is payable at least quarterly in arrears at a rate based on either a Eurodollar or a base rate, plus a spread that depends on our Leverage Ratio, as defined under the Credit Facility. The Credit Facility also requires the payment of a commitment fee at a per annum rate ranging from .30% to .45% of the unused commitment, based on our Leverage Ratio. Under the terms of the Credit Facility, we are required, among other things, to maintain compliance with various covenants, including financial covenants relating to our consolidated tangible net worth, Leverage Ratio, and either an Interest Coverage Ratio or a minimum level of liquidity, each as defined therein. The amount of the Credit Facility available for cash borrowings or the issuance of letters of credit depends on the total cash borrowings and letters of credit outstanding under the Credit Facility and the maximum available amount under the terms of the Credit Facility. As of November 30, 2017 , we had no cash borrowings and $37.6 million of letters of credit outstanding under the Credit Facility. Therefore, as of November 30, 2017 , we had $462.4 million available for cash borrowings under the Credit Facility, with up to $212.4 million of that amount available for the issuance of additional letters of credit. LOC Facility. We maintain the LOC Facility to obtain letters of credit from time to time in the ordinary course of operating our business. As of November 30, 2017 and 2016, we had no letters of credit outstanding under the LOC Facility. The LOC Facility requires us to deposit and maintain cash with the issuing financial institution as collateral for any letters of credit that may be outstanding. Mortgages and Land Contracts Due to Land Sellers and Other Loans. As of November 30, 2017 , inventories having a carrying value of $27.6 million were pledged to collateralize mortgages and land contracts due to land sellers and other loans. Shelf Registration. On July 14, 2017, we filed the 2017 Shelf Registration with the SEC. The 2017 Shelf Registration registers the offering of securities that we may issue from time to time in amounts to be determined. Issuances of securities under our 2017 Shelf Registration require the filing of a prospectus supplement identifying the amount and terms of the securities to be issued. Our ability to issue securities is subject to market conditions and other factors impacting our borrowing capacity. The 2017 Shelf Registration replaced our previously effective universal shelf registration statement filed with the SEC on July 18, 2014. We have not made any offerings of securities under the 2017 Shelf Registration. Senior Notes. All of the senior notes outstanding at November 30, 2017 and 2016 represent senior unsecured obligations and rank equally in right of payment with all of our existing and future indebtedness. All of our outstanding senior notes were issued in underwritten public offerings. The key terms of each of our senior notes outstanding as of November 30, 2017 were as follows (dollars in thousands): Redeemable Prior to Maturity Effective Interest Rate Notes Payable Principal Issuance Date Maturity Date 7 1/4% Senior notes $ 300,000 April 3, 2006 June 15, 2018 Yes (a) 7.3 % 4.75% Senior notes 400,000 March 25, 2014 May 15, 2019 Yes (b) 5.0 8.00% Senior notes 350,000 February 7, 2012 March 15, 2020 Yes (a) 8.5 7.00% Senior notes 450,000 October 29, 2013 December 15, 2021 Yes (b) 7.2 7.50% Senior notes 350,000 July 31, 2012 September 15, 2022 Yes (a) 7.7 7.625% Senior notes 250,000 February 17, 2015 May 15, 2023 Yes (b) 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 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, 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. (c) We may not redeem these notes prior to November 6, 2018. On or after November 6, 2018, and 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. If a change in control occurs as defined in the instruments governing our senior notes, we would be required to offer to purchase all of our outstanding senior notes (with the exception of the amount outstanding related to our 7 1/4% Senior Notes due 2018) at 101% of their principal amount, together with all accrued and unpaid interest, if any. If a fundamental change, as defined in the instruments governing the 1.375% Convertible Senior Notes due 2019, occurs prior to the stated maturity date, the holders may require us to purchase for cash all or any portion of their 1.375% Convertible Senior Notes due 2019 at 100% of the principal amount of the notes, plus accrued and unpaid interest to, but not including, the fundamental change purchase date. On January 13, 2017, at our option, we redeemed $100.0 million in aggregate principal amount of our 9.10% Senior Notes due 2017 outstanding at the redemption price calculated in accordance with the “make-whole” provisions of the notes. We used internally generated cash to fund this redemption. We paid $105.3 million to redeem the notes and recorded a charge of $5.7 million for the early extinguishment of debt. We repaid the remaining $165.0 million in aggregate principal amount of our 9.10% Senior Notes due 2017 at their maturity on September 15, 2017 using internally generated funds. In 2015, we used a portion of the total net proceeds of $245.4 million from the issuance of the 7.625% Senior Notes due 2023 to retire the remaining $199.9 million in aggregate principal amount of our 6 1/4% Senior Notes due 2015 at their maturity on June 15, 2015. The remainder of the net proceeds was used for general corporate purposes, including working capital, land acquisition and land development. At any time prior to the close of business on the business day immediately preceding the maturity date, holders may convert all or any portion of the 1.375% Convertible Senior Notes due 2019. These notes are initially convertible into shares of our common stock at a conversion rate of 36.5297 shares for each $1,000 principal amount of the notes, which represents an initial conversion price of approximately $27.37 per share. This initial conversion rate equates to 8,401,831 shares of our common stock and is subject to adjustment upon the occurrence of certain events, including: subdivisions and combinations of our common stock; the issuance of stock dividends, or certain rights, options or warrants, capital stock, indebtedness, assets or cash dividends to all or substantially all holders of our common stock; and certain issuer tender or exchange offers. The conversion rate will not, however, be adjusted for other events, such as a third-party tender or exchange offer or an issuance of common stock for cash or an acquisition, that may adversely affect the trading price of the notes or our common stock. On conversion, holders of the 1.375% Convertible Senior Notes due 2019 will not be entitled to receive cash in lieu of shares of our common stock, except for cash in lieu of fractional shares. We maintain 12,602,735 shares of our common stock to meet conversions if and when they occur. This represents the maximum number of shares of our common stock potentially deliverable upon conversion to holders of the 1.375% Convertible Senior Notes due 2019 based on the terms of their governing instruments. The maximum number of shares would potentially be deliverable to holders only in certain limited circumstances as set forth in the instruments governing these notes. The indenture governing the senior notes does not contain any financial covenants. Subject to specified exceptions, the indenture contains certain restrictive covenants that, among other things, limit our ability to incur secured indebtedness, or engage in sale-leaseback transactions involving property or assets above a certain specified value. In addition, the senior notes (with the exception of the 7 1/4% Senior Notes due 2018) contain certain limitations related to mergers, consolidations, and sales of assets. As of November 30, 2017, we were in compliance with the applicable terms of all our covenants and other requirements under the Credit Facility, the senior notes, the indenture, and the mortgages and land contracts due to land sellers and other loans. Our ability to access the Credit Facility for cash borrowings and letters of credit and our ability to secure future debt financing depend, in part, on our ability to remain in such compliance. There are no agreements that restrict our payment of dividends other than to maintain compliance with the financial covenant requirements under the Credit Facility, which would restrict our payment of dividends if a default under the Credit Facility exists at the time of any such payment, or if any such payment would result in such a default. Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans are due during each year ended November 30 as follows: 2018 — $303.1 million ; 2019 — $637.1 million ; 2020 — $350.0 million ; 2021 — $0 ; 2022— $800.0 million ; and thereafter — $250.0 million .

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Nov. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures Fair value measurements of assets and liabilities are categorized based on the following hierarchy: Level 1 Fair value determined based on quoted prices in active markets for identical assets or liabilities. Level 2 Fair value determined using significant observable inputs, such as quoted prices for similar assets or liabilities or quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from or corroborated by observable market data, by correlation or other means. Level 3 Fair value determined using significant unobservable inputs, such as pricing models, discounted cash flows, or similar techniques. Fair value measurements are used for inventories on a nonrecurring basis when events and circumstances indicate that their carrying value is not recoverable. The following table presents the fair value hierarchy and our assets measured at fair value on a nonrecurring basis (in thousands): Fair Value Hierarchy For the Years Ended November 30, Description 2017 2016 Inventories (a) Level 2 $ — $ 3,657 Inventories (a) Level 3 38,357 37,329 (a) Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable period, as of the date that the fair value measurements were made. The carrying value for these real estate assets may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date. Inventories with a carrying value of $59.0 million were written down to their fair value of $38.4 million during the year ended November 30, 2017 , resulting in inventory impairment charges of $20.6 million . Inventories with a carrying value of $89.1 million were written down to their fair value, less associated costs to sell (where applicable), of $39.5 million during the year ended November 30, 2016 , resulting in inventory impairment charges of $49.6 million . The fair values for inventories that were determined using Level 2 inputs were based on bona fide letters of intent from outside parties or executed sales contracts. The fair values for inventories that were determined using Level 3 inputs were primarily based on the estimated future net cash flows discounted for inherent risk associated with each underlying asset, or, with respect to planned future land sales, were based on broker quotes. The following table presents the fair value hierarchy, carrying values and estimated fair values of our financial instruments, except those for which the carrying values approximate fair values (in thousands): November 30, 2017 2016 Fair Value Hierarchy Carrying Value (a) Estimated Fair Value Carrying Value (a) Estimated Fair Value Financial Liabilities: Senior notes Level 2 $ 2,086,070 $ 2,292,250 $ 2,345,843 $ 2,494,844 Convertible senior notes Level 2 228,572 278,300 227,379 223,675 (a) The carrying values for the senior notes and convertible senior notes, as presented, include unamortized debt issuance costs. Debt issuance costs are not factored into the estimated fair values of these notes. The fair values of our senior notes and convertible senior notes are generally estimated based on quoted market prices for these instruments. The carrying values reported for cash and cash equivalents, and mortgages and land contracts due to land sellers and other loans approximate fair values. The carrying value of corporate-owned life insurance is based on the cash surrender value of the policies and, accordingly, approximates fair value.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Nov. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments and contingencies include typical obligations of homebuilders for the completion of contracts and those incurred in the ordinary course of business. Warranty. We provide a limited warranty on all of our homes. The specific terms and conditions of our limited warranty program vary depending upon the markets in which we do business. We generally provide a structural warranty of 10 years , a warranty on electrical, heating, cooling, plumbing and certain other building systems each varying from two to five years based on geographic market and state law, and a warranty of one year for other components of the home. Our limited warranty program is ordinarily how we respond to and account for homeowners’ requests to local division offices seeking repairs of certain conditions or defects, including claims where we could have liability under applicable state statutes or tort law for a defective condition in or damages to a home. Our warranty liability covers our costs of repairs associated with homeowner claims made under our limited warranty program. These claims are generally made directly by a homeowner and involve their individual home. We estimate the costs that may be incurred under each limited warranty and record a liability in the amount of such costs at the time the revenue associated with the sale of each home is recognized. Our primary assumption in estimating the amounts we accrue for warranty costs is that historical claims experience is a strong indicator of future claims experience. Factors that affect our warranty liability include the number of homes delivered, historical and anticipated rates of warranty claims, and cost per claim. We periodically assess the adequacy of our accrued warranty liability , which is included in accrued expenses and other liabilities in our consolidated balance sheets, and adjust the amount as necessary based on our assessment. Our assessment includes the review of our actual warranty costs incurred to identify trends and changes in our warranty claims experience, and considers our home construction quality and customer service initiatives and outside events. While we believe the warranty liability currently reflected in our consolidated balance sheets to be adequate, unanticipated changes or developments in the legal environment, local weather, land or environmental conditions, quality of materials or methods used in the construction of homes or customer service practices and/or our warranty claims experience could have a significant impact on our actual warranty costs in future periods and such amounts could differ significantly from our current estimates. The changes in our warranty liability were as follows (in thousands): Years Ended November 30, 2017 2016 2015 Balance at beginning of year $ 56,682 $ 49,085 $ 45,196 Warranties issued 38,452 30,135 23,018 Payments (a) (25,336 ) (23,190 ) (26,367 ) Adjustments (b) — 652 7,238 Balance at end of year $ 69,798 $ 56,682 $ 49,085 (a) Payments for 2016 and 2015 included $2.3 million and $8.4 million , respectively, to repair homes affected by water intrusion-related issues in certain of our communities in central and southwest Florida. (b) Adjustments for 2016 and 2015 included the reclassification of certain estimated minimum probable recoveries to receivables in connection with the above-noted water intrusion-related issues. The adjustments for each year had no impact on our consolidated statements of operations. Guarantees. In the normal course of our business, we issue certain representations, warranties and guarantees related to our home sales and land sales. Based on historical experience, we do not believe any potential liability with respect to these representations, warranties or guarantees would be material to our consolidated financial statements. Self-Insurance. W e maintain, and require the majority of our independent subcontractors to maintain, general liability insurance (including construction defect and bodily injury coverage) and workers’ compensation insurance. These insurance policies protect us against a portion of our risk of loss from claims related to our homebuilding activities, subject to certain self-insured retentions, deductibles and other coverage limits . We also maintain certain other insurance policies. In Arizona, California, Colorado and Nevada, our subcontractors’ general liability insurance primarily takes the form of a wrap-up policy under a program where eligible independent subcontractors are enrolled as insureds on each community. Enrolled subcontractors contribute toward the cost of the insurance and agree to pay a contractual amount in the future if there is a claim related to their work. To the extent provided under the wrap-up program, we absorb the enrolled subcontractors’ general liability associated with the work performed on our homes within the applicable community as part of our overall general liability insurance and our self-insurance. We self-insure a portion of our overall risk through the use of a captive insurance subsidiary, which provides coverage for our exposure to certain construction defect, bodily injury and property damage claims and related litigation or regulatory actions, up to certain limits. Our self-insurance liability generally covers the costs of settlements and/or repairs, if any, as well as our costs to defend and resolve the following types of claims: • Construction defect : Construction defect claims, which represent the largest component of our self-insurance liability, typically originate through a legal or regulatory process rather than directly by a homeowner and involve the alleged occurrence of a condition affecting two or more homes within the same community, or they involve a common area or homeowners’ association property within a community. These claims typically involve higher costs to resolve than individual homeowner warranty claims, and the rate of claims is highly variable. • Bodily injury : Bodily injury claims typically involve individuals (other than our employees) who claim they were injured while on our property or as a result of our operations. • Property damage : Property damage claims generally involve claims by third parties for alleged damage to real or personal property as a result of our operations. Such claims may occasionally include those made against us by owners of property located near our communities. Our self-insurance liability at each reporting date represents the estimated costs of reported claims, claims incurred but not yet reported, and claim adjustment expenses. The amount of our self-insurance liability is based on an analysis performed by a third-party actuary that uses our historical claim and expense data, as well as industry data to estimate these overall costs. Key assumptions used in developing these estimates include claim frequencies, severities and resolution patterns, which can occur over an extended period of time. These estimates are subject to variability due to the length of time between the delivery of a home to a homebuyer and when a construction defect claim is made, and the ultimate resolution of such claim; uncertainties regarding such claims relative to our markets and the types of product we build; and legal or regulatory actions and/or interpretations, among other factors. Due to the degree of judgment involved and the potential for variability in these underlying assumptions, our actual future costs could differ from those estimated. In addition, changes in the frequency and severity of reported claims and the estimates to resolve claims can impact the trends and assumptions used in the actuarial analysis, which could be material to our consolidated financial statements. Though state regulations vary, construction defect claims are reported and resolved over a long period of time, which can extend for 10 years or more. As a result, the majority of the estimated self-insurance liability based on the actuarial analysis relates to claims incurred but not yet reported. Therefore, adjustments related to individual existing claims generally do not significantly impact the overall estimated liability. Adjustments to our liabilities related to homes delivered in prior years are recorded in the period in which a change in our estimate occurs. Our self-insurance liability is presented on a gross basis for all years without consideration of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any . Estimated probable insurance and other recoveries of $71.3 million and $84.5 million are included in receivables in our consolidated balance sheets at November 30, 2017 and 2016, respectively. These self-insurance recoveries are principally based on actuarially determined amounts and depend on various factors, including, among other things, the above-described claim cost estimates, our insurance policy coverage limits for the applicable policy year(s), historical third-party recovery rates, insurance industry practices, the regulatory environment, and legal precedent, and are subject to a high degree of variability from year to year. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated. The changes in our self-insurance liability were as follows (in thousands): Years Ended November 30, 2017 2016 2015 Balance at beginning of year $ 158,584 $ 173,011 $ 205,228 Self-insurance expense (a) 20,371 24,808 18,590 Payments (9,720 ) (28,395 ) (21,201 ) Adjustments (b) 8,460 (10,840 ) (29,606 ) Balance at end of year $ 177,695 $ 158,584 $ 173,011 (a) These expenses are included in selling, general and administrative expenses and are largely offset by contributions from independent subcontractors participating in the wrap-up policy. (b) The amount for each period reflects changes in our self-insurance liability that were offset by changes in the receivable for estimated probable insurance and other recoveries to present our self-insurance liability on a gross basis. The amount for 2017 also includes a $21.7 million change in estimate to increase our self-insurance liability to reflect claim frequency and severity trends, which indicated that probable future payments for claims relating to homes delivered in certain prior years were likely to exceed the previously estimated liabilities remaining for those claims . Therefore, we recorded an adjustment in the 2017 third quarter to increase our self-insurance liability, based on an actuarially determined estimate, to an amount expected to have a higher probability of being adequate to cover future payments associated with unresolved claims, including claims incurred but not yet reported. This adjustment is included in selling, general and administrative expenses. For most of our claims, there is no interaction between our warranty liability and self-insurance liability. Typically, if a matter is identified at its outset as either a warranty or self-insurance claim, it remains as such through its resolution. However, there can be instances of interaction between the liabilities, such as where individual homeowners in a community separately request warranty repairs to their homes to address a similar condition or issue and subsequently join together to initiate, or potentially initiate, a legal process with respect to that condition or issue and/or the repair work we have undertaken. In these instances, the claims and related repair work generally are initially covered by our warranty liability, and the costs associated with resolving the legal matter (including any additional repair work) are covered by our self-insurance liability. The payments we make in connection with claims and related repair work, whether covered within our warranty liability and/or our self-insurance liability, may be recovered from our insurers to the extent such payments exceed the self-insured retentions or deductibles under our general liability insurance policies. Also, in certain instances, in the course of resolving a claim, we pay amounts in advance of and/or on behalf of a subcontractor(s) or their insurer(s) and believe we will be reimbursed for such payments. Estimates of all such amounts, if any, are recorded as receivables in our consolidated balance sheets when any such recovery is considered probable. Such receivables associated with our warranty and other claims totaled $4.1 million at November 30, 2017 and $14.6 million at November 30, 2016. We believe collection of these receivables is probable based on our history of collections for similar claims. In 2017, we received insurance recoveries of $23.5 million , which exceeded the $11.6 million of estimated probable recoveries receivable we had previously recorded. The excess recoveries were included in selling, general and administrative expenses. Northern California Claims. In the 2017 third quarter, we received claims from a homeowners association alleging approximately $100.0 million of damages from purported construction defects at a completed townhome community in Northern California. We are investigating these allegations, and we currently expect it may take up to several quarters to fully evaluate them. At November 30, 2017, we had an accrual for our estimated probable loss in this matter and a receivable for estimated probable insurance recoveries. While it is reasonably possible that our loss could exceed the amount accrued, at this preliminary stage of our investigation into these allegations, we are unable to estimate the total amount of the loss in excess of the accrued amount that is reasonably possible. Our investigation will also involve identifying potentially responsible parties, including insurers, to pay for or perform any necessary repairs. Performance Bonds and Letters of Credit. We are often required to provide to various municipalities and other government agencies performance bonds and/or letters of credit to secure the completion of our projects and/or in support of obligations to build community improvements such as roads, sewers, water systems and other utilities, and to support similar development activities by certain of our unconsolidated joint ventures. At November 30, 2017 , we had $606.7 million of performance bonds and $37.6 million of letters of credit outstanding. At November 30, 2016 , we had $535.7 million of performance bonds and $31.0 million of letters of credit outstanding. If any such performance bonds or letters of credit are called, we would be obligated to reimburse the issuer of the performance bond or letter of credit. We do not believe that a material amount of any currently outstanding performance bonds or letters of credit will be called. Performance bonds do not have stated expiration dates. Rather, we are released from the performance bonds as the underlying performance is completed. The expiration dates of some letters of credit issued in connection with community improvements coincide with the expected completion dates of the related projects or obligations. Most letters of credit, however, are issued with an initial term of one year and are typically extended on a year-to-year basis until the related performance obligations are completed. Land Option Contracts and Other Similar Contracts. In the ordinary course of business, we enter into land option contracts and other similar contracts to acquire rights to land for the construction of homes. At November 30, 2017 , we had total cash deposits of $64.7 million to purchase land having an aggregate purchase price of $1.09 billion . Our land option contracts and other similar contracts generally do not contain provisions requiring our specific performance. Leases. We lease certain property and equipment under noncancelable operating leases. Office and equipment leases are typically for terms of three to five years and generally provide renewal options for terms up to an additional five years . In most cases, we expect that leases that expire will be renewed or replaced by other leases with similar terms. The future minimum rental payments under operating leases, which primarily consist of office leases having initial or remaining noncancelable lease terms in excess of one year , are as follows: 2018 — $8.3 million ; 2019 — $7.6 million ; 2020 — $4.7 million ; 2021 — $2.5 million ; 2022 — $1.8 million ; and thereafter — $5.8 million . Rental expense on our noncancelable operating leases was $8.1 million in 2017 , $7.5 million in 2016 and $8.5 million in 2015 .

Legal Matters

Legal Matters	12 Months Ended
	Nov. 30, 2017
Loss Contingency, Information about Litigation Matters [Abstract]
Legal Matters	Legal Matters We are involved in litigation and regulatory proceedings incidental to our business that are in various procedural stages. We believe that the accruals we have recorded for probable and reasonably estimable losses with respect to these proceedings are adequate and that, as of November 30, 2017, it was not reasonably possible that an additional material loss had been incurred in an amount in excess of the estimated amounts already recognized or disclosed in our consolidated financial statements. We evaluate our accruals for litigation and regulatory proceedings at least quarterly and, as appropriate, adjust them to reflect (a) the facts and circumstances known to us at the time, including information regarding negotiations, settlements, rulings and other relevant events and developments; (b) the advice and analyses of counsel; and (c) the assumptions and judgment of management. Similar factors and considerations are used in establishing new accruals for proceedings as to which losses have become probable and reasonably estimable at the time an evaluation is made. Based on our experience, we believe that the amounts that may be claimed or alleged against us in these proceedings are not a meaningful indicator of our potential liability. The outcome of any of these proceedings, including the defense and other litigation-related costs and expenses we may incur, however, is inherently uncertain and could differ significantly from the estimate reflected in a related accrual, if made. Therefore, it is possible that the ultimate outcome of any proceeding, if in excess of a related accrual or if an accrual had not been made, could be material to our consolidated financial statements.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Nov. 30, 2017
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock. To help protect the benefits of our NOLs, built-in losses and tax credits from the impact of an ownership change under Section 382, on January 22, 2009, we adopted a Rights Agreement dated as of that date (“2009 Rights Agreement”), and we declared a dividend distribution of one preferred share purchase right for each outstanding share of common stock that was payable to stockholders of record as of the close of business on March 5, 2009. Each share of our common stock delivered upon conversion to holders of the 1.375% Convertible Senior Notes due 2019 will include a preferred share purchase right associated with and subject to the terms of the 2009 Rights Agreement. Subject to the terms, provisions and conditions of the 2009 Rights Agreement, if these rights become exercisable, each right would initially represent the right to purchase from us 1/100th of a share of our Series A Participating Cumulative Preferred Stock for a purchase price of $85.00 (“Purchase Price”). If issued, each fractional share of preferred stock would generally give a stockholder approximately the same dividend, voting and liquidation rights as does one share of our common stock. However, prior to exercise, a right does not give its holder any rights as a stockholder, including without limitation any dividend, voting or liquidation rights. The rights will not be exercisable until the earlier of (a) 10 calendar days after a public announcement by us that a person or group has become an Acquiring Person (as defined under the 2009 Rights Agreement) and (b) 10 business days after the commencement of a tender or exchange offer by a person or group if upon consummation of the offer the person or group would beneficially own 4.9% or more of our outstanding common stock. Until these rights become exercisable (“Distribution Date”), common stock certificates and/or book-entry shares will evidence the rights and may contain a notation to that effect. Any transfer of shares of our common stock prior to the Distribution Date will constitute a transfer of the associated rights. After the Distribution Date, the rights may be transferred other than in connection with the transfer of the underlying shares of our common stock. If there is an Acquiring Person on the Distribution Date or a person or group becomes an Acquiring Person after the Distribution Date, each holder of a right, other than rights that are or were beneficially owned by an Acquiring Person, which will be void, will thereafter have the right to receive upon exercise of a right and payment of the Purchase Price, that number of shares of our common stock having a market value of two times the Purchase Price. After the later of the Distribution Date and the time we publicly announce that an Acquiring Person has become such, our board of directors may exchange the rights, other than rights that are or were beneficially owned by an Acquiring Person, which will be void, in whole or in part, at an exchange ratio of one share of common stock per right, subject to adjustment. At any time prior to the later of the Distribution Date and the time we publicly announce that an Acquiring Person becomes such, our board of directors may redeem all of the then-outstanding rights in whole, but not in part, at a price of $.001 per right, subject to adjustment (“Redemption Price”). The redemption will be effective immediately upon the board of directors’ action, unless the action provides that such redemption will be effective at a subsequent time or upon the occurrence or nonoccurrence of one or more specified events, in which case the redemption will be effective in accordance with the provisions of the action. Immediately upon the effectiveness of the redemption of the rights, the right to exercise the rights will terminate and the only right of the holders of rights will be to receive the Redemption Price, with interest thereon. The rights issued pursuant to the 2009 Rights Agreement will expire on the earliest of (a) the close of business on March 5, 2019, (b) the time at which the rights are redeemed, (c) the time at which the rights are exchanged, (d) the time at which our board of directors determines that a related provision in our Restated Certificate of Incorporation is no longer necessary, and (e) the close of business on the first day of a taxable year of ours to which our board of directors determines that no tax benefits may be carried forward. At our annual meeting of stockholders on April 2, 2009, our stockholders approved the 2009 Rights Agreement. Common Stock. On January 12, 2016, our board of directors authorized us to repurchase a total of up to 10,000,000 shares of our outstanding common stock. This authorization reaffirmed and incorporated the then-current balance of 4,000,000 shares that remained under a prior board-approved share repurchase program. The amount and timing of shares purchased under this 10,000,000 share repurchase program are subject to market and business conditions and other factors, and purchases may be made from time to time and at any time through open market or privately negotiated transactions. This share repurchase authorization will continue in effect until fully used or earlier terminated or suspended by the board of directors. In 2016, we repurchased 8,373,000 shares of our common stock pursuant to this authorization, at a total cost of $85.9 million . We did not repurchase any of our common stock under this program in 2017 or 2015. In 2014, concurrent with the amendment of the Director Plan, for the purpose of effecting settlement of Director SARs, our board of directors authorized the repurchase of not more than 680,000 shares of our common stock, and also authorized potential future grants of up to 680,000 stock payment awards under the KB Home 2014 Equity Incentive Plan (“2014 Plan”), in each case solely as necessary for director elections in respect of outstanding Director Plan SARs. The 2014 Plan, which was amended in April 2016, is discussed in Note 19 – Employee Benefit and Stock Plans. As of November 30, 2017, we have not repurchased any shares and no stock payment awards have been granted under the 2014 Plan, as amended, pursuant to the respective board of directors’ authorizations. Our board of directors declared four quarterly cash dividends of $.025 per share of common stock in 2017, 2016 and 2015. All dividends declared during 2017, 2016 and 2015 were also paid during those years. Treasury Stock. In addition to the shares purchased in 2016 pursuant to our share repurchase program, we acquired $6.7 million , $2.5 million and $.6 million of our common stock in 2017, 2016 and 2015, respectively. All of the common stock acquired in 2017 and 2015 and a portion of the common stock acquired in 2016 consisted of previously issued shares delivered to us by employees to satisfy their withholding tax obligations on the vesting of restricted stock awards or of forfeitures of previous restricted stock awards. Treasury stock is recorded at cost. Differences between the cost of treasury stock and the reissuance proceeds are recorded to paid-in capital. These transactions are not considered repurchases under the 10,000,000 share repurchase program described above.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Nov. 30, 2017
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table presents the changes in the balances of each component of accumulated other comprehensive loss (in thousands): Postretirement Benefit Plan Adjustments Total Accumulated Other Comprehensive Loss Balance at November 30, 2015 $ (17,319 ) Other comprehensive income before reclassifications 468 Amounts reclassified from accumulated other comprehensive loss 1,635 Income tax expense related to items of other comprehensive income (841 ) Other comprehensive income, net of tax 1,262 Balance at November 30, 2016 (16,057 ) Other comprehensive loss before reclassifications (3,143 ) Amounts reclassified from accumulated other comprehensive loss 1,698 Income tax benefit related to items of other comprehensive loss 578 Other comprehensive loss, net of tax (867 ) Balance at November 30, 2017 $ (16,924 ) The amounts reclassified from accumulated other comprehensive loss consisted of the following (in thousands): Years Ended November 30, Details About Accumulated Other Comprehensive Loss Components 2017 2016 2015 Postretirement benefit plan adjustments Amortization of net actuarial loss $ 142 $ 79 $ 848 Amortization of prior service cost 1,556 1,556 1,556 Total reclassifications (a) $ 1,698 $ 1,635 $ 2,404 (a) The accumulated other comprehensive loss components are included in the computation of net periodic benefit costs as further discussed in Note 20 – Postretirement Benefits. The estimated net actuarial loss and prior service cost expected to be amortized from accumulated other comprehensive loss into net periodic benefit cost during 2018 are $.1 million and $1.6 million , respectively.

Employee Benefit and Stock Plan

Employee Benefit and Stock Plans	12 Months Ended
	Nov. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Benefit and Stock Plans	Employee Benefit and Stock Plans Most of our employees are eligible to participate in the KB Home 401(k) Savings Plan (“401(k) Plan”) under which we partially match employee contributions. The aggregate cost of the 401(k) Plan to us was $6.2 million in 2017 , $5.3 million in 2016 and $4.6 million in 2015 . The assets of the 401(k) Plan are held by a third-party trustee. The 401(k) Plan participants may direct the investment of their funds among one or more of the several fund options offered by the 401(k) Plan. As of November 30, 2017 , 2016 and 2015 , approximately 7% , 5% and 5% , respectively, of the 401(k) Plan’s net assets at each period were invested in our common stock. Approval of Amended KB Home 2014 Plan. At our Annual Meeting of Stockholders held on April 7, 2016, our stockholders approved the Amended KB Home 2014 Equity Incentive Plan (“Amended 2014 Plan”), authorizing, among other things, the issuance for grants of stock-based awards to our employees, non-employee directors and consultants of up to 7,500,000 additional shares above the original 4,800,000 shares our stockholders approved under the plan (or an aggregate issuance of 12,300,000 shares), plus any shares that were available for grant as of April 7, 2014 under our 2010 Equity Incentive Plan (“2010 Plan”), and any shares subject to then-outstanding awards under the 2010 Plan that subsequently expire or are canceled, forfeited, tendered or withheld to satisfy tax withholding obligations with respect to full value awards, or settled for cash. No new awards may be made under the 2010 Plan. Therefore, the Amended 2014 Plan is our only active equity compensation plan. Under the Amended 2014 Plan, grants of stock options and other similar awards reduce the Amended 2014 Plan’s share capacity on a 1 -for-1 basis, and grants of restricted stock and other similar “full value” awards reduce the Amended 2014 Plan’s share capacity on a 1.78 -for-1 basis. In addition, subject to the Amended 2014 Plan’s terms and conditions, a stock-based award may also be granted under the Amended 2014 Plan to replace an outstanding award granted under another plan of ours (subject to the terms of such other plan) with terms substantially identical to those of the award being replaced. The Amended 2014 Plan provides that stock options and SARs may be awarded for periods of up to 10 years . The Amended 2014 Plan also enables us to grant cash bonuses and other stock-based awards. As of November 30, 2017, 2016, and 2015, in addition to awards outstanding under the Amended 2014 Plan, we had awards outstanding under the 2010 Plan and our Amended and Restated 1999 Incentive Plan, both of which provided for generally the same types of awards as the Amended 2014 Plan. We also had awards outstanding under our Performance-Based Incentive Plan for Senior Management, which provided for generally the same types of awards as the Amended 2014 Plan, but stock option awards granted under this plan had terms of up to 15 years years. Stock-Based Compensation. With the approval of the management development and compensation committee, consisting entirely of independent members of our board of directors, we have provided compensation benefits to certain of our employees in the form of stock options, restricted stock and PSUs. Certain stock-based compensation benefits are also provided to our non-employee directors pursuant to the Director Plan. Compensation expense related to equity-based awards is included in selling, general and administrative expenses in our consolidated statements of operations. The following table presents our stock-based compensation expense (in thousands): Years Ended November 30, 2017 2016 2015 Stock options $ 2,592 $ 7,076 $ 7,576 Restricted stock 4,177 2,630 2,499 PSUs 6,439 5,343 5,404 Director awards 1,425 1,801 1,664 Total $ 14,633 $ 16,850 $ 17,143 Stock Options. Stock option transactions are summarized as follows: Years Ended November 30, 2017 2016 2015 Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options outstanding at beginning of year 12,731,545 $ 18.95 12,635,644 $ 19.39 11,735,042 $ 20.45 Granted — — 1,012,686 16.21 1,262,000 14.92 Exercised (1,650,360 ) 16.01 (551,898 ) 13.95 (76,164 ) 9.69 Cancelled (1,815,945 ) 28.31 (364,887 ) 34.07 (285,234 ) 45.80 Options outstanding at end of year 9,265,240 $ 17.64 12,731,545 $ 18.95 12,635,644 $ 19.39 Options exercisable at end of year 8,307,632 $ 17.86 10,506,810 $ 19.70 10,389,722 $ 20.35 Options available for grant at end of year 7,495,792 7,034,523 1,554,195 The total intrinsic value of stock options exercised was $12.1 million for the year ended November 30, 2017 , $1.4 million for the year ended November 30, 2016 and $.4 million for the year ended November 30, 2015 . The aggregate intrinsic value of stock options outstanding was $136.3 million , $24.5 million and $16.4 million at November 30, 2017 , 2016 and 2015 , respectively. The intrinsic value of stock options exercisable was $121.3 million at November 30, 2017 , $23.3 million at November 30, 2016 , and $16.4 million at November 30, 2015 . The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the price of the option. Stock options outstanding and stock options exercisable at November 30, 2017 are summarized as follows: Options Outstanding Options Exercisable Range of Exercise Price Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life $ 6.32 to $11.05 1,361,500 $ 6.36 3.9 1,361,500 $ 6.36 $11.06 to $14.62 2,165,435 12.96 5.0 2,165,435 12.96 $14.63 to $16.20 2,064,255 15.15 5.0 1,709,586 15.19 $16.21 to $28.10 2,106,093 17.62 5.3 1,503,154 18.18 $28.11 to $45.68 1,567,957 37.23 1.4 1,567,957 37.23 $ 6.32 to $45.68 9,265,240 $ 17.64 4.3 8,307,632 $ 17.86 3.8 There were no stock options granted in 2017 . The weighted average grant date fair value of stock options granted in 2016 and 2015 was $5.82 and $5.49 , respectively. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Years Ended November 30, 2017 2016 2015 Risk-free interest rate — 1.3 % 1.4 % Expected volatility factor — 41.3 % 43.6 % Expected dividend yield — .6 % .7 % Expected term — 5 years 5 years The risk-free interest rate assumption was determined based on observed interest rates appropriate for the stock options’ expected term. The expected volatility factor was based on a combination of the historical volatility of our common stock and the implied volatility of publicly traded options on our stock. The expected dividend yield assumption was based on our history of dividend payouts. The expected term of employee stock options was estimated using historical data. As of November 30, 2017 , there was $1.0 million of total unrecognized stock-based compensation expense related to unvested stock option awards. This expense is expected to be recognized over a weighted average period of 1.3 years . We record proceeds from the exercise of stock options as additions to common stock and paid-in capital. The tax shortfalls of $3.3 million in 2017 , $2.2 million in 2016 and $1.7 million in 2015 resulting from the cancellation of stock awards were reflected in paid-in capital. In 2017 , 2016 and 2015, the consolidated statement of cash flows reflected $1.0 million , $.2 million , and $.2 million , respectively, of excess tax benefits associated with the exercise of stock options. Restricted Stock. From time to time, we grant restricted stock to various employees as a compensation benefit. During the restriction periods, these employees are entitled to vote and to receive cash dividends on such shares. The restrictions imposed with respect to the shares granted lapse in installments within, or in full at the end of, three years after their grant date if certain conditions are met. Restricted stock transactions are summarized as follows: Years Ended November 30, 2017 2016 2015 Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Outstanding at beginning of year 604,619 $ 16.24 416,977 $ 15.88 355,294 $ 15.81 Granted 321,835 24.49 453,703 15.73 285,006 15.19 Vested (364,670 ) 16.09 (252,854 ) 14.78 (204,663 ) 14.83 Cancelled (57,858 ) 15.61 (13,207 ) 15.12 (18,660 ) 15.45 Outstanding at end of year 503,926 $ 21.69 604,619 $ 16.24 416,977 $ 15.88 As of November 30, 2017 , we had $9.9 million of total unrecognized compensation cost related to restricted stock awards that will be recognized over a weighted average period of approximately three years. Performance-Based Restricted Stock Units. On October 5, 2017, we granted PSUs to certain employees. Each PSU grant corresponds to a target amount of our common stock (“Award Shares”). Each PSU entitles the recipient to receive a grant of between 0% and 200% of the recipient’s Award Shares, and will vest based on our achieving, over a three -year period commencing on December 1, 2017 and ending on November 30, 2020, specified levels of (a) cumulative adjusted earnings per share (b) average adjusted return on invested capital and (c) revenue growth performance relative to a peer group of high-production public homebuilding companies. The grant date fair value of each such PSU was $25.64 . On October 6, 2016, we granted PSUs to certain employees with similar terms as the 2017 PSU grants, except that the applicable performance period commenced on December 1, 2016 and ends on November 30, 2019. The grant date fair value of each such PSU was $16.21 . On October 8, 2015, we granted PSUs to certain employees with similar terms as the 2017 PSU grants, except that the applicable performance period commenced on December 1, 2015 and ends on November 30, 2018. The grant date fair value of each such PSU was $14.92 . PSU transactions are summarized as follows: Years Ended November 30, 2017 2016 2015 Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Outstanding at beginning of year 809,860 $ 17.19 820,209 $ 15.52 628,209 $ 15.70 Granted 424,797 22.99 369,281 13.81 192,000 14.92 Vested (278,460 ) 16.67 (374,630 ) 10.21 — — Cancelled (30,965 ) 14.92 (5,000 ) 16.21 — — Outstanding at end of year 925,232 $ 20.09 809,860 $ 17.19 820,209 $ 15.52 The number of shares of our common stock actually granted to a recipient, if any, when a PSU vests will depend on the degree of achievement of the applicable performance measures during the applicable three -year period. The shares of our common stock that were granted under the terms of PSUs that vested in 2017 included an aggregate of 125,460 additional shares above the target amount awarded to the eligible recipients based on our achieving certain levels of average return on equity performance and revenue growth performance relative to a peer group of high-production homebuilding companies over the three-year period from December 1, 2013 through November 30, 2016. The PSUs do not have dividend or voting rights during the performance period. Compensation cost for PSUs is initially estimated based on target performance achievement and adjusted as appropriate throughout the performance period. Accordingly, future compensation costs associated with outstanding PSUs may increase or decrease based on the probability and extent of achievement with respect to the applicable performance measures. At November 30, 2017 , we had $19.3 million of total unrecognized compensation cost related to unvested PSUs, which is expected to be recognized over a weighted-average period of approximately three years. Director Awards. We have granted Director Plan SARs and deferred common stock awards to our non-employee directors pursuant to the terms of the Director Plan and elections made by each director. All of these awards were fully vested as of November 30, 2016. Director Plan SARs, which have not been granted since April 2014 as they ceased being a component of non-employee director compensation after that date, are stock settled, have terms of up to 15 years and may be exercised when a respective director leaves the board or earlier if applicable stock ownership requirements have been met. Deferred common stock awards will be paid out at the earlier of a change in control or the date a respective director leaves the board. All Director Plan SARs were granted at an exercise price equal to the closing price of our common stock on the date of grant. At November 30, 2017, 2016 and 2015, the aggregate outstanding Director Plan SARs were 308,880 , 452,983 and 452,983 , respectively, and the aggregate outstanding deferred common stock awards granted under the Director Plan were 456,875 , 485,632 and 419,962 , respectively. In addition, we have granted common stock on an unrestricted basis to our non-employee directors on the grant date pursuant to the Director Plan and elections made by each director. Grantor Stock Ownership Trust. We have a grantor stock ownership trust (“Trust”), administered by a third-party trustee, that holds and distributes the shares of common stock acquired to support certain employee compensation and employee benefit obligations under our existing stock option plan, the 401(k) Plan and other employee benefit plans. The existence of the Trust does not impact the amount of benefits or compensation that is paid under these plans. For financial reporting purposes, the Trust is consolidated with us, and therefore any dividend transactions between us and the Trust are eliminated. Acquired shares held by the Trust remain valued at the market price on the date of purchase and are shown as a reduction to stockholders’ equity in the consolidated balance sheets. The difference between the Trust share value and the market value on the date shares are released from the Trust is included in paid-in capital. Common stock held in the Trust is not considered outstanding in the computations of earnings per share. The Trust held 8,897,954 and 9,431,756 shares of common stock at November 30, 2017 and 2016 , respectively. The trustee votes shares held by the Trust in accordance with voting directions from eligible employees, as specified in a trust agreement with the trustee.

Postretirement Benefits

Postretirement Benefits	12 Months Ended
	Nov. 30, 2017
Retirement Benefits [Abstract]
Postretirement Benefits	Postretirement Benefits We have a supplemental non-qualified, unfunded retirement plan, the KB Home Retirement Plan (“Retirement Plan”), effective as of July 11, 2002, pursuant to which we have offered to pay supplemental pension benefits to certain designated individuals (consisting of current and former employees) in connection with their retirement. The Retirement Plan was closed to new participants in 2004. We also have an unfunded death benefit plan, the KB Home Death Benefit Only Plan (“DBO Plan”), implemented on November 1, 2001, for certain designated individuals (consisting of current and former employees). The DBO Plan was closed to new participants in 2006. In connection with these plans, we have purchased cost recovery life insurance contracts on the lives of the designated individuals. The insurance contracts associated with the plans are held by a trust. The trust is the owner and beneficiary of such insurance contracts. The amount of the insurance coverage under the contracts is designed to provide sufficient funds to cover all costs of the plans if assumptions made as to employment term, mortality experience, policy earnings and other factors, as applicable, are realized. The cash surrender value of the Retirement Plan life insurance contracts was $46.8 million at November 30, 2017 and $44.4 million at November 30, 2016 . We recognized investment gains on the cash surrender value of the Retirement Plan life insurance contracts of $3.9 million in 2017 and $.4 million in 2016 , and an investment loss of $1.3 million in 2015 . In 2017 , 2016 , and 2015 , we paid $1.5 million , $1.4 million and $1.4 million , respectively, in benefits under the Retirement Plan to eligible former employees. The cash surrender value of the DBO Plan life insurance contracts was $18.5 million at November 30, 2017 and $17.0 million at November 30, 2016 . We recognized investment gains on the cash surrender value of the DBO Plan life insurance contracts of $1.5 million in 2017 and $.2 million in 2016 , and an investment loss of $.3 million in 2015 . We have not paid out any benefits under the DBO Plan. The net periodic benefit cost of our Retirement Plan and DBO Plan consisted of the following (in thousands): Years Ended November 30, 2017 2016 2015 Interest cost $ 2,274 $ 2,285 $ 2,270 Amortization of prior service cost 1,556 1,556 1,556 Service cost 1,046 1,045 1,142 Amortization of net actuarial loss 142 79 848 Total $ 5,018 $ 4,965 $ 5,816 The liabilities related to these plans were $66.5 million at November 30, 2017 and $62.2 million at November 30, 2016 , and are included in accrued expenses and other liabilities in the consolidated balance sheets. For the years ended November 30, 2017 and 2016 , the discount rates we used for the plans were 3.5% and 3.6% , respectively. Benefit payments under our Retirement Plan and DBO Plan are expected to be paid during each year ended November 30 as follows: 2018 — $2.0 million ; 2019 — $2.5 million ; 2020 — $2.8 million ; 2021 — $3.5 million ; 2022 — $3.6 million ; and for the five years ended November 30, 2027 — $20.3 million in the aggregate.

Supplemental Disclosure to Cons

Supplemental Disclosure to Consolidated Statements of Cash Flows	12 Months Ended
	Nov. 30, 2017
Supplemental Cash Flow Information [Abstract]
Supplemental Disclosure to Consolidated Statements of Cash Flows	Supplemental Disclosure to Consolidated Statements of Cash Flows The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Years Ended November 30, 2017 2016 2015 Summary of cash and cash equivalents at the end of the year: Homebuilding $ 720,630 $ 592,086 $ 559,042 Financial services 231 914 1,299 Total $ 720,861 $ 593,000 $ 560,341 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 2,690 $ 1,134 $ 22,486 Income taxes paid 4,664 3,307 3,612 Income taxes refunded 202 550 11 Supplemental disclosure of non-cash activities: Reclassification of warranty recoveries to receivables $ — $ 2,151 $ 7,238 Increase (decrease) in consolidated inventories not owned (44,833 ) (59,413 ) 106,807 Increase in inventories due to distributions of land and land development from an unconsolidated joint venture 6,650 4,277 12,705 Inventories acquired through seller financing 49,658 99,108 20,291

Supplemental Guarantor Informat

Supplemental Guarantor Information	12 Months Ended
	Nov. 30, 2017
Guarantees [Abstract]
Supplemental Guarantor Information	Supplemental Guarantor Information Our obligations to pay principal, premium, if any, and interest on the senior notes and borrowings, if any, under the Credit Facility are guaranteed on a joint and several basis by certain of our subsidiaries (“Guarantor Subsidiaries”). The guarantees are full and unconditional and the Guarantor Subsidiaries are 100% owned by us. Pursuant to the terms of the indenture governing the senior notes and the terms of the Credit Facility, if any of the Guarantor Subsidiaries ceases to be a “significant subsidiary” as defined by Rule 1-02 of Regulation S-X (as in effect on June 1, 1996) using a 5% rather than a 10% threshold (provided that the assets of our non-guarantor subsidiaries do not in the aggregate exceed 10% of an adjusted measure of our consolidated total assets), it will be automatically and unconditionally released and discharged from its guaranty of the senior notes and the Credit Facility so long as all guarantees by such Guarantor Subsidiary of any other of our or our subsidiaries’ indebtedness are terminated at or prior to the time of such release. We have determined that separate, full financial statements of the Guarantor Subsidiaries would not be material to investors and, accordingly, supplemental financial information for the Guarantor Subsidiaries is presented. The supplemental financial information for all periods presented below reflects those subsidiaries that were Guarantor Subsidiaries as of November 30, 2017 . Condensed Consolidating Statements of Operations (in thousands) Year Ended November 30, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 3,957,267 $ 411,262 $ — $ 4,368,529 Homebuilding: Revenues $ — $ 3,957,267 $ 398,998 $ — $ 4,356,265 Construction and land costs — (3,286,891 ) (359,577 ) — (3,646,468 ) Selling, general and administrative expenses (91,120 ) (293,233 ) (42,041 ) — (426,394 ) Operating income (loss) (91,120 ) 377,143 (2,620 ) — 283,403 Interest income 1,232 8 — — 1,240 Interest expense (172,102 ) (1,635 ) (3,434 ) 170,864 (6,307 ) Intercompany interest 266,784 (117,926 ) 22,006 (170,864 ) — Equity in loss of unconsolidated joint ventures — (1,407 ) (2 ) — (1,409 ) Homebuilding pretax income 4,794 256,183 15,950 — 276,927 Financial services pretax income — — 13,068 — 13,068 Total pretax income 4,794 256,183 29,018 — 289,995 Income tax expense (8,800 ) (100,000 ) (600 ) — (109,400 ) Equity in net income of subsidiaries 184,601 — — (184,601 ) — Net income $ 180,595 $ 156,183 $ 28,418 $ (184,601 ) $ 180,595 Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 3,169,545 $ 425,101 $ — $ 3,594,646 Homebuilding: Revenues $ — $ 3,169,545 $ 413,398 $ — $ 3,582,943 Construction and land costs — (2,661,888 ) (379,213 ) — (3,041,101 ) Selling, general and administrative expenses (91,859 ) (251,384 ) (46,198 ) — (389,441 ) Operating income (loss) (91,859 ) 256,273 (12,013 ) — 152,401 Interest income 470 55 4 — 529 Interest expense (177,329 ) (3,958 ) (3,946 ) 179,333 (5,900 ) Intercompany interest 301,432 (107,388 ) (14,711 ) (179,333 ) — Equity in loss of unconsolidated joint ventures — (2,179 ) (2 ) — (2,181 ) Homebuilding pretax income (loss) 32,714 142,803 (30,668 ) — 144,849 Financial services pretax income — — 4,466 — 4,466 Total pretax income (loss) 32,714 142,803 (26,202 ) — 149,315 Income tax benefit (expense) 17,200 (52,700 ) (8,200 ) — (43,700 ) Equity in net income of subsidiaries 55,701 — — (55,701 ) — Net income (loss) $ 105,615 $ 90,103 $ (34,402 ) $ (55,701 ) $ 105,615 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 2,640,678 $ 391,352 $ — $ 3,032,030 Homebuilding: Revenues $ — $ 2,640,678 $ 380,309 $ — $ 3,020,987 Construction and land costs — (2,196,228 ) (343,140 ) — (2,539,368 ) Selling, general and administrative expenses (86,053 ) (213,292 ) (43,653 ) — (342,998 ) Operating income (loss) (86,053 ) 231,158 (6,484 ) — 138,621 Interest income 451 6 1 — 458 Interest expense (180,701 ) (6,184 ) — 165,029 (21,856 ) Intercompany interest 289,727 (101,540 ) (23,158 ) (165,029 ) — Equity in loss of unconsolidated joint ventures — (1,803 ) (1 ) — (1,804 ) Homebuilding pretax income (loss) 23,424 121,637 (29,642 ) — 115,419 Financial services pretax income — — 11,624 — 11,624 Total pretax income (loss) 23,424 121,637 (18,018 ) — 127,043 Income tax benefit (expense) 2,000 (46,700 ) 2,300 — (42,400 ) Equity in net income of subsidiaries 59,219 — — (59,219 ) — Net income (loss) $ 84,643 $ 74,937 $ (15,718 ) $ (59,219 ) $ 84,643 Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands) Year Ended November 30, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income $ 180,595 $ 156,183 $ 28,418 $ (184,601 ) $ 180,595 Other comprehensive loss: Postretirement benefit plan adjustments (1,445 ) — — — (1,445 ) Other comprehensive loss before tax (1,445 ) — — — (1,445 ) Income tax benefit related to items of other comprehensive loss 578 — — — 578 Other comprehensive loss, net of tax (867 ) — — — (867 ) Comprehensive income $ 179,728 $ 156,183 $ 28,418 $ (184,601 ) $ 179,728 Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 105,615 $ 90,103 $ (34,402 ) $ (55,701 ) $ 105,615 Other comprehensive income: Postretirement benefit plan adjustments 2,103 — — — 2,103 Other comprehensive income before tax 2,103 — — — 2,103 Income tax expense related to items of other comprehensive income (841 ) — — — (841 ) Other comprehensive income, net of tax 1,262 — — — 1,262 Comprehensive income (loss) $ 106,877 $ 90,103 $ (34,402 ) $ (55,701 ) $ 106,877 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 84,643 $ 74,937 $ (15,718 ) $ (59,219 ) $ 84,643 Other comprehensive income: Postretirement benefit plan adjustments 6,149 — — — 6,149 Other comprehensive income before tax 6,149 — — — 6,149 Income tax expense related to items of other comprehensive income (2,460 ) — — — (2,460 ) Other comprehensive income, net of tax 3,689 — — — 3,689 Comprehensive income (loss) $ 88,332 $ 74,937 $ (15,718 ) $ (59,219 ) $ 88,332 Condensed Consolidating Balance Sheets (in thousands) November 30, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 575,193 $ 102,661 $ 42,776 $ — $ 720,630 Receivables 24,815 144,076 75,322 — 244,213 Inventories — 2,929,466 333,920 — 3,263,386 Investments in unconsolidated joint ventures — 62,290 2,504 — 64,794 Deferred tax assets, net 250,747 243,523 139,367 — 633,637 Other assets 91,592 8,424 2,482 — 102,498 942,347 3,490,440 596,371 — 5,029,158 Financial services — — 12,357 — 12,357 Intercompany receivables 3,414,237 — 107,992 (3,522,229 ) — Investments in subsidiaries 49,776 — — (49,776 ) — Total assets $ 4,406,360 $ 3,490,440 $ 716,720 $ (3,572,005 ) $ 5,041,515 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 163,984 $ 371,909 $ 253,500 $ — $ 789,393 Notes payable 2,289,532 9,283 26,030 — 2,324,845 2,453,516 381,192 279,530 — 3,114,238 Financial services — — 966 — 966 Intercompany payables 26,533 3,109,248 386,448 (3,522,229 ) — Stockholders’ equity 1,926,311 — 49,776 (49,776 ) 1,926,311 Total liabilities and stockholders’ equity $ 4,406,360 $ 3,490,440 $ 716,720 $ (3,572,005 ) $ 5,041,515 November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 463,100 $ 100,439 $ 28,547 $ — $ 592,086 Receivables 4,807 135,915 90,943 — 231,665 Inventories — 3,048,132 355,096 — 3,403,228 Investments in unconsolidated joint ventures — 61,517 2,499 — 64,016 Deferred tax assets, net 276,737 318,077 144,171 — 738,985 Other assets 79,526 9,177 2,442 — 91,145 824,170 3,673,257 623,698 — 5,121,125 Financial services — — 10,499 — 10,499 Intercompany receivables 3,559,012 — 97,062 (3,656,074 ) — Investments in subsidiaries 35,965 — — (35,965 ) — Total assets $ 4,419,147 $ 3,673,257 $ 731,259 $ (3,692,039 ) $ 5,131,624 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 131,530 $ 397,605 $ 237,192 $ — $ 766,327 Notes payable 2,548,112 66,927 25,110 — 2,640,149 2,679,642 464,532 262,302 — 3,406,476 Financial services — — 2,003 — 2,003 Intercompany payables 16,360 3,208,725 430,989 (3,656,074 ) — Stockholders’ equity 1,723,145 — 35,965 (35,965 ) 1,723,145 Total liabilities and stockholders’ equity $ 4,419,147 $ 3,673,257 $ 731,259 $ (3,692,039 ) $ 5,131,624 Condensed Consolidating Statements of Cash Flows (in thousands) Year Ended November 30, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by operating activities $ 70,683 $ 374,524 $ 68,012 $ — $ 513,219 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (13,563 ) (5,131 ) — (18,694 ) Return of investments in unconsolidated joint ventures — 4,119 6,916 — 11,035 Purchases of property and equipment, net (7,215 ) (819 ) (51 ) — (8,085 ) Intercompany 311,857 — — (311,857 ) — Net cash provided by (used in) investing activities 304,642 (10,263 ) 1,734 (311,857 ) (15,744 ) Cash flows from financing activities: Repayment of senior notes (270,326 ) — — — (270,326 ) Issuance costs for unsecured revolving credit facility (1,711 ) — — — (1,711 ) Payments on mortgages and land contracts due to land sellers and other loans — (106,382 ) — — (106,382 ) Issuance of common stock under employee stock plans 23,162 — — — 23,162 Excess tax benefits from stock-based compensation 958 — — — 958 Payments of cash dividends (8,642 ) — — — (8,642 ) Stock repurchases (6,673 ) — — — (6,673 ) Intercompany — (255,657 ) (56,200 ) 311,857 — Net cash used in financing activities (263,232 ) (362,039 ) (56,200 ) 311,857 (369,614 ) Net increase in cash and cash equivalents 112,093 2,222 13,546 — 127,861 Cash and cash equivalents at beginning of year 463,100 100,439 29,461 — 593,000 Cash and cash equivalents at end of year $ 575,193 $ 102,661 $ 43,007 $ — $ 720,861 Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ (40,277 ) $ 188,372 $ 40,560 $ — $ 188,655 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (4,852 ) (750 ) — (5,602 ) Return of investments in unconsolidated joint ventures — 4,307 — — 4,307 Purchases of property and equipment, net (4,052 ) (555 ) (177 ) — (4,784 ) Intercompany 144,651 — — (144,651 ) — Net cash provided by (used in) investing activities 140,599 (1,100 ) (927 ) (144,651 ) (6,079 ) Cash flows from financing activities: Change in restricted cash 9,344 — — — 9,344 Payments on mortgages and land contracts due to land sellers and other loans — (67,845 ) — — (67,845 ) Issuance of common stock under employee stock plans 5,343 — — — 5,343 Excess tax benefits from stock-based compensation 186 — — — 186 Payments of cash dividends (8,586 ) — — — (8,586 ) Stock repurchases (88,359 ) — — — (88,359 ) Intercompany — (115,729 ) (28,922 ) 144,651 — Net cash used in financing activities (82,072 ) (183,574 ) (28,922 ) 144,651 (149,917 ) Net increase in cash and cash equivalents 18,250 3,698 10,711 — 32,659 Cash and cash equivalents at beginning of year 444,850 96,741 18,750 — 560,341 Cash and cash equivalents at end of year $ 463,100 $ 100,439 $ 29,461 $ — $ 593,000 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by operating activities $ 44,422 $ 110,688 $ 26,075 $ — $ 181,185 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (20,625 ) (1 ) — (20,626 ) Return of investments in unconsolidated joint ventures — 14,000 — — 14,000 Purchases of property and equipment, net (2,890 ) (1,271 ) (516 ) — (4,677 ) Intercompany 45,470 — — (45,470 ) — Net cash provided by (used in) investing activities 42,580 (7,896 ) (517 ) (45,470 ) (11,303 ) Cash flows from financing activities: Change in restricted cash 17,891 — — — 17,891 Proceeds from issuance of debt 250,000 — — — 250,000 Payment of debt issuance costs (4,561 ) — — — (4,561 ) Repayment of senior notes (199,906 ) — — — (199,906 ) Payments on mortgages and land contracts due to land sellers and other loans — (22,877 ) — — (22,877 ) Issuance of common stock under employee stock plans 740 — — — 740 Excess tax benefits from stock-based compensation 157 — — — 157 Payments of cash dividends (9,186 ) — — — (9,186 ) Stock repurchases (567 ) — — — (567 ) Intercompany — (19,586 ) (25,884 ) 45,470 — Net cash provided by (used in) financing activities 54,568 (42,463 ) (25,884 ) 45,470 31,691 Net increase (decrease) in cash and cash equivalents 141,570 60,329 (326 ) — 201,573 Cash and cash equivalents at beginning of year 303,280 36,412 19,076 — 358,768 Cash and cash equivalents at end of year $ 444,850 $ 96,741 $ 18,750 $ — $ 560,341

Quarterly Results (unaudited)

Quarterly Results (unaudited)	12 Months Ended
	Nov. 30, 2017
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, 2017 and 2016 (in thousands, except per share amounts): First Quarter Second Quarter Third Quarter Fourth Quarter 2017 Revenues $ 818,596 $ 1,002,794 $ 1,144,001 $ 1,403,138 Gross profits 119,697 155,382 188,110 255,442 Inventory impairment and land option contract abandonment charges 4,008 6,001 8,113 7,110 Pretax income 21,459 51,982 79,208 137,346 Net income 14,259 31,782 50,208 84,346 Earnings per share: Basic $ .17 $ .37 $ .58 $ .97 Diluted .15 .33 .51 .84 2016 Revenues $ 678,371 $ 811,050 $ 913,283 $ 1,191,942 Gross profits 108,694 121,465 151,902 167,667 Inventory impairment and land option contract abandonment charges 1,966 11,740 3,052 36,054 Pretax income 16,027 24,797 53,463 55,028 Net income 13,127 15,597 39,363 37,528 Earnings per share: Basic $ .15 $ .18 $ .46 $ .44 Diluted .14 .17 .42 .40 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.

Subsequent Event

Subsequent Event	12 Months Ended
	Nov. 30, 2017
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On December 22, 2017, the TCJA was enacted into law. While we are assessing the TCJA, and believe that its impact on our business may not be fully known for some time, its reduction of the federal corporate income tax rate from 35% to 21% , effective January 1, 2018, will result in our recording a one-time, non-cash charge of approximately $115 million to our provision for income taxes in the 2018 first quarter. The charge is solely due to the accounting re-measurement of our deferred tax assets based on the lower income tax rate. We expect our effective tax rate for 2018, excluding the impact of the non-cash charge, to be approximately 27% . We believe the TCJA will not impact the ability of our deferred tax assets, as re-measured, to reduce the amount of cash federal income taxes payable in 2018 and beyond.

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Nov. 30, 2017
Segment Reporting Information [Line Items]
Operations	Operations. KB Home is a builder of attached and detached single-family residential homes, townhomes and condominiums. As of November 30, 2017 , we conducted ongoing operations in Arizona, California, Colorado, Florida, Nevada, North Carolina and Texas. We also offer various insurance products to our homebuyers in the same markets where we build homes, and provide title services in the majority of our markets located within our Central and Southeast homebuilding reporting segments. Until October 2016, we provided mortgage banking services, including mortgage loan originations, to our homebuyers indirectly through HCM, a joint venture of a subsidiary of ours and a subsidiary of Nationstar. Since June 2017, we have been providing mortgage banking services, including mortgage loan originations, to our homebuyers indirectly through KBHS, an unconsolidated joint venture we formed with Stearns in the 2016 fourth quarter.
Basis of Presentation	Basis of Presentation. Our consolidated financial statements have been prepared in accordance with GAAP and include our accounts and those of the consolidated subsidiaries in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. Investments in unconsolidated joint ventures in which we have less than a controlling financial interest are accounted for using the equity method.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents. We consider all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents.
Property and Equipment and Depreciation	Property and Equipment and Depreciation. Property and equipment are recorded at cost and are depreciated over their estimated useful lives, which generally range from two to 10 years, using the straight-line method. Repair and maintenance costs are expensed as incurred.
Homebuilding Operations	Homebuilding Operations. Revenues from housing and other real estate sales are recognized when sales are closed and title passes to the homebuyer. Sales are closed when all of the following conditions are met: a sale is consummated, a sufficient down payment is received, the earnings process is complete and the collection of any remaining receivables is reasonably assured. Concurrent with the recognition of revenues in our consolidated statements of operations, sales incentives in the form of price concessions on the selling price of a home are recorded as a reduction of revenues, while the costs of sales incentives in the form of free or discounted products or services to homebuyers, including option upgrades and closing cost allowances used to cover a portion of the fees and costs charged to a homebuyer, are reflected as construction and land costs. Construction and land costs are comprised of direct and allocated costs, including estimated future costs for the limited warranty we provide on our homes, and certain amenities within a community. Land acquisition, land development and other common costs are generally allocated on a relative fair value basis to the homes or lots within the applicable community or land parcel. Land acquisition and land development costs include related interest and real estate taxes. H ousing and land inventories are stated at cost, unless the carrying value is determined not to be recoverable, in which case the affected inventories are written down to fair value or fair value less associated costs to sell. Real estate assets, such as our housing and land inventories, are tested for recoverability whenever events or changes in circumstances indicate that their carrying value may not be recoverable. Recoverability is measured by comparing the carrying value of an asset to the undiscounted future net cash flows expected to be generated by the asset. These impairment evaluations are significantly impacted by estimates for the amounts and timing of future revenues, costs and expenses, and other factors. If the carrying value of a real estate asset is determined not to be recoverable, the impairment charge to be recognized is measured by the amount by which the carrying value of the affected asset exceeds its estimated fair value. For land held for sale, if the fair value less associated costs to sell exceeds the asset’s carrying value, no impairment charge is recognized.
Capitalized Interest	Capitalized Interest. 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.
Fair Value Measurements	Fair Value Measurements. Fair value measurements are used for inventories on a nonrecurring basis when events and circumstances indicate that their carrying value is not recoverable. For these real estate assets, fair value is determined based on the estimated future net cash flows discounted for inherent risk associated with each such asset, or other valuation techniques. Our financial instruments consist of cash and cash equivalents, senior notes, convertible senior notes, and mortgages and land contracts due to land sellers and other loans. Fair value measurements of financial instruments are determined by various market data and other valuation techniques as appropriate. When available, we use quoted market prices in active markets to determine fair value.
Warranty Costs	Warranty Costs. We provide a limited warranty on all of our homes. We estimate the costs that may be incurred under each limited warranty and record a liability in the amount of such costs at the time the revenue associated with the sale of each home is recognized. Our primary assumption in estimating the amounts we accrue for warranty costs is that historical claims experience is a strong indicator of future claims experience. Factors that affect our warranty liability include the number of homes delivered, historical and anticipated rates of warranty claims, and cost per claim. We periodically assess the adequacy of our accrued warranty liability and adjust the amount as necessary based on our assessment. Our warranty liability is presented on a gross basis for all years without consideration of recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any. Estimates of recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any, are recorded as receivables when such recoveries are considered probable.
Self-Insurance	Self-Insurance. We self-insure a portion of our overall risk through the use of a captive insurance subsidiary. We also maintain certain other insurance policies. We record liabilities based on the estimated costs required to cover reported claims, claims incurred but not yet reported, and claim adjustment expenses. These estimated costs are based on an actuarial analysis of our historical claims and expense data, as well as industry data. Our self-insurance liability is presented on a gross basis for all years without consideration of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any . Estimates of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any, are recorded as receivables when such recoveries are considered probable.
Advertising Costs	Advertising Costs. We expense advertising costs as incurred.
Legal Fees	Legal Fees. Legal fees associated with litigation and similar proceedings that are not expected to provide a benefit in future periods are generally expensed as incurred. Legal fees associated with land acquisition and development and other activities that are expected to provide a benefit in future periods are capitalized to inventories in our consolidated balance sheets as incurred.
Stock-Based Compensation	Stock-Based Compensation. We measure and recognize compensation expense associated with our grant of equity-based awards at an amount equal to the fair value of share-based payments granted under compensation arrangements over the vesting period. We estimate the fair value of stock options and Director Plan SARs granted using the Black-Scholes option-pricing model with assumptions based primarily on historical data. We report the tax benefit resulting from tax deductions in excess of the compensation expense recognized for stock options in our consolidated statements of cash flows as an operating cash outflow and a financing cash inflow.
Income Taxes	Income Taxes. The provision for, or benefit from, income taxes is calculated using the asset and liability method, under which deferred tax assets and liabilities are recorded based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are evaluated on a quarterly basis to determine if adjustments to the valuation allowance are required. This evaluation is based on the consideration of all available positive and negative evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. The ultimate realization of our deferred tax assets depends primarily on our ability to generate future taxable income during the periods in which the related temporary differences in the financial basis and the tax basis of the assets become deductible. The value of our deferred tax assets in our consolidated balance sheets depends on applicable income tax rates.
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss. The accumulated balances of other comprehensive loss in the consolidated balance sheets as of November 30, 2017 and 2016 were comprised solely of adjustments recorded directly to accumulated other comprehensive loss related to our benefit plan obligations. Such adjustments are made annually as of November 30, when our benefit plan obligations are remeasured.
Earnings Per Share	Earnings Per Share. We compute earnings per share using the two-class method, which is an allocation of earnings between the holders of common stock and a company’s participating security holders. Our outstanding nonvested shares of restricted stock contain non-forfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. We had no other participating securities at November 30, 2017 , 2016 or 2015 .
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which delayed the effective date of ASU 2014-09 by one year. In 2016 and 2017, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for us beginning December 1, 2018 (with early adoption permitted beginning in our 2018 fiscal year) and allows for full retrospective or modified retrospective methods of adoption. We expect to adopt ASU 2014-09 under the modified retrospective method in our 2019 first quarter. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements and disclosures, and have been involved in industry-specific discussions with the FASB on the treatment of certain items. We do not believe the adoption of ASU 2014-09 will have a material impact on the amount or timing of our homebuilding revenues. We are also continuing to evaluate the impact adopting this guidance may have on other aspects of our business. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 will require lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities are to be expanded to include qualitative along with specific quantitative information. ASU 2016-02 will be effective for us beginning December 1, 2019 (with early adoption permitted). ASU 2016-02 mandates a modified retrospective transition method. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, “Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”), which simplifies several aspects of the accounting for share-based payment transactions. ASU 2016-09 requires excess tax benefits and deficiencies from share-based payment awards to be recorded in income tax expense in the consolidated statement of operations. Currently, excess tax benefits and deficiencies are recognized in paid-in capital in the consolidated balance sheet. This change is required to be applied prospectively. In addition, ASU 2016-09 changes the accounting for statutory tax withholding requirements, classification in the statement of cash flows and provides an option to continue to estimate forfeitures or account for forfeitures as they occur. We will adopt ASU 2016-09 effective December 1, 2017 and will elect to continue to estimate forfeitures. We expect ASU 2016-09 to result in increased volatility to our income tax expense in our consolidated statements of operations in 2018 and future periods, the magnitude of which will depend on, among other things, the price of our common stock and the timing and volume of share-based payment award activity, such as employee exercises of stock options and vesting of restricted stock awards and PSUs. In August 2016, the FASB issued Accounting Standards Update No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 will be effective for us beginning December 1, 2018 (with early adoption permitted). We do not expect the adoption of ASU 2016-15 to have a material impact on our consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 will be effective for us beginning December 1, 2018 (with early adoption permitted) and will be applied using a retrospective transition method to each period presented. We do not expect the adoption of ASU 2016-18 to have a material impact on our consolidated financial statements.
Adoption of New Accounting Pronouncement	Recent Accounting Pronouncements Not Yet Adopted. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which delayed the effective date of ASU 2014-09 by one year. In 2016 and 2017, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for us beginning December 1, 2018 (with early adoption permitted beginning in our 2018 fiscal year) and allows for full retrospective or modified retrospective methods of adoption. We expect to adopt ASU 2014-09 under the modified retrospective method in our 2019 first quarter. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements and disclosures, and have been involved in industry-specific discussions with the FASB on the treatment of certain items. We do not believe the adoption of ASU 2014-09 will have a material impact on the amount or timing of our homebuilding revenues. We are also continuing to evaluate the impact adopting this guidance may have on other aspects of our business. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 will require lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities are to be expanded to include qualitative along with specific quantitative information. ASU 2016-02 will be effective for us beginning December 1, 2019 (with early adoption permitted). ASU 2016-02 mandates a modified retrospective transition method. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, “Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”), which simplifies several aspects of the accounting for share-based payment transactions. ASU 2016-09 requires excess tax benefits and deficiencies from share-based payment awards to be recorded in income tax expense in the consolidated statement of operations. Currently, excess tax benefits and deficiencies are recognized in paid-in capital in the consolidated balance sheet. This change is required to be applied prospectively. In addition, ASU 2016-09 changes the accounting for statutory tax withholding requirements, classification in the statement of cash flows and provides an option to continue to estimate forfeitures or account for forfeitures as they occur. We will adopt ASU 2016-09 effective December 1, 2017 and will elect to continue to estimate forfeitures. We expect ASU 2016-09 to result in increased volatility to our income tax expense in our consolidated statements of operations in 2018 and future periods, the magnitude of which will depend on, among other things, the price of our common stock and the timing and volume of share-based payment award activity, such as employee exercises of stock options and vesting of restricted stock awards and PSUs. In August 2016, the FASB issued Accounting Standards Update No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 will be effective for us beginning December 1, 2018 (with early adoption permitted). We do not expect the adoption of ASU 2016-15 to have a material impact on our consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 will be effective for us beginning December 1, 2018 (with early adoption permitted) and will be applied using a retrospective transition method to each period presented. We do not expect the adoption of ASU 2016-18 to have a material impact on our consolidated financial statements.
Segment Reporting	four homebuilding reporting segments based primarily on similarities in economic and geographic characteristics, product types, regulatory environments, methods used to sell and construct homes and land acquisition characteristics. We also have one financial services reporting segment. Management evaluates segment performance primarily based on segment pretax results. As of November 30, 2017 , our homebuilding reporting segments conducted ongoing operations in the following states: West Coast: California Southwest: Arizona and Nevada Central: Colorado and Texas Southeast: Florida and North Carolina Our homebuilding reporting segments are engaged in the acquisition and development of land primarily for residential purposes and offer a wide variety of homes that are designed to appeal to first-time, first move-up and active adult homebuyers. Our homebuilding operations generate most of their revenues from the delivery of completed homes to homebuyers. They also earn revenues from the sale of land. In 2016, we announced that we had begun a transition out of the Metro Washington, D.C. market that was substantially completed in 2017. Our operations in the Metro Washington, D.C. market consisted of communities in Maryland and Virginia, which were included in our Southeast homebuilding reporting segment, and represented 2% of our consolidated homebuilding revenues for the year ended November 30, 2016. As described in Note 7 – Inventory Impairments and Land Option Contract Abandonments, we recorded inventory impairment and land option contract abandonment charges related to this transition during the year ended November 30, 2016. Our financial services reporting segment offers property and casualty insurance and, in certain instances, earthquake, flood and personal property insurance to our homebuyers in the same markets as our homebuilding reporting segments, and provides title services in the majority of our markets located within our Central and Southeast homebuilding reporting segments. This segment earns revenues primarily from insurance commissions and from the provision of title services. Until October 2016, we provided mortgage banking services, including mortgage loan originations, to our homebuyers indirectly through HCM, a joint venture of a subsidiary of ours and a subsidiary of Nationstar. Through these respective subsidiaries, we have a 49.9% ownership interest and Nationstar has a 50.1% ownership interest in HCM, with Nationstar providing management oversight of HCM’s operations. In the 2016 fourth quarter, we and Nationstar began the process to wind down HCM and transfer HCM’s operations and certain assets to Stearns. In 2016, a subsidiary of ours and a subsidiary of Stearns formed KBHS, an unconsolidated mortgage banking joint venture, to offer mortgage banking services, including mortgage loan originations, to our homebuyers. We and Stearns each have a 50.0% ownership interest, with Stearns providing management oversight of KBHS’ operations. KBHS was operational in all of our served markets as of June 2017. KBHS did not have an impact on our consolidated statement of operations for the year ended November 30, 2016. Our homebuyers may select any lender of their choice to obtain mortgage financing for the purchase of their home. The financial services reporting segment is separately reported in our consolidated financial statements. Corporate and other is a non-operating segment that develops and oversees the implementation of company-wide strategic initiatives and provides support to our reporting segments by centralizing certain administrative functions. Corporate management is responsible for, among other things, evaluating and selecting the geographic markets in which we operate, consistent with our overall business strategy; allocating capital resources to markets for land acquisition and development activities; making major personnel decisions related to employee compensation and benefits; and monitoring the financial and operational performance of our divisions. Corporate and other includes general and administrative expenses related to operating our corporate headquarters. A portion of the expenses incurred by Corporate and other is allocated to our homebuilding reporting segments. Our reporting segments follow the same accounting policies used for our consolidated financial statements as described in Note 1 – Summary of Significant Accounting Policies. The results of each reporting segment are not necessarily indicative of the results that would have occurred had the segment been an independent, stand-alone entity during the periods presented, nor are they indicative of the results to be expected in future periods.
Inventory Impairment	E ach community or land parcel in our owned inventory is assessed to determine if indicators of potential impairment exist. Impairment indicators are assessed separately for each community or land parcel on a quarterly basis and include, but are not limited to, the following: significant decreases in net orders, average selling prices, volume of homes delivered, gross profit margins on homes delivered or projected gross profit margins on homes in backlog or future deliveries; significant increases in budgeted land development and home construction costs or cancellation rates; or projected losses on expected future land sales. If indicators of potential impairment exist for a community or land parcel, the identified asset is evaluated for recoverability.
Land under Option Arrangements	Our inventory controlled under land option contracts and other similar contracts is assessed to determine whether it continues to meet our investment return standards. Assessments are made separately for each optioned land parcel on a quarterly basis and are affected by the following factors relative to the market in which the asset is located, among others: current and/or anticipated net orders, average selling prices and volume of homes delivered; estimated land development and home construction costs; and projected profitability on expected future housing or land sales. When a decision is made not to exercise certain land option contracts and other similar contracts due to market conditions and/or changes in our marketing strategy, we write off the related inventory costs, including non-refundable deposits and unrecoverable pre-acquisition costs.
Financial services [Member]
Segment Reporting Information [Line Items]
Operations	Financial Services Operations. Our financial services reporting segment generates revenues primarily from insurance commissions and title services. Revenues from insurance commissions and title services are recognized when policies are issued, which generally occurs at the time each applicable home is closed.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Nov. 30, 2017
Segment Reporting [Abstract]
Financial information relating to company reporting segments	The following tables present financial information relating to our homebuilding reporting segments (in thousands): Years Ended November 30, 2017 2016 2015 Revenues: West Coast $ 2,186,411 $ 1,638,078 $ 1,402,264 Southwest 533,052 447,473 398,242 Central 1,188,839 1,018,535 809,738 Southeast 447,963 478,857 410,743 Total $ 4,356,265 $ 3,582,943 $ 3,020,987 Pretax income (loss): West Coast $ 217,649 $ 148,014 $ 127,946 Southwest 45,540 38,807 31,718 Central 116,098 85,924 70,959 Southeast (509 ) (29,385 ) (22,758 ) Corporate and other (101,851 ) (98,511 ) (92,446 ) Total $ 276,927 $ 144,849 $ 115,419 Equity in income (loss) of unconsolidated joint ventures: West Coast $ (1,770 ) $ (1,561 ) $ (1,106 ) Southwest 362 (618 ) (696 ) Central — — — Southeast (1 ) (2 ) (2 ) Total $ (1,409 ) $ (2,181 ) $ (1,804 ) Inventory impairment charges: West Coast $ 13,482 $ 8,209 $ 645 Southwest 3,445 3,191 3,253 Central — 10,633 — Southeast 3,678 27,547 4,132 Total $ 20,605 $ 49,580 $ 8,030 Land option contract abandonments: West Coast $ 3,225 $ 769 $ 352 Southwest — 253 — Central 846 460 225 Southeast 556 1,750 984 Total $ 4,627 $ 3,232 $ 1,561 November 30, 2017 2016 Inventories: Homes under construction West Coast $ 638,639 $ 695,742 Southwest 179,240 130,886 Central 320,205 297,290 Southeast 98,764 122,020 Subtotal 1,236,848 1,245,938 Land under development West Coast 723,761 820,088 Southwest 309,672 268,507 Central 435,373 456,508 Southeast 182,533 182,554 Subtotal 1,651,339 1,727,657 Land held for future development or sale West Coast 233,188 210,910 Southwest 62,475 122,927 Central 12,654 15,439 Southeast 66,882 80,357 Subtotal 375,199 429,633 Total $ 3,263,386 $ 3,403,228 Investments in unconsolidated joint ventures: West Coast $ 53,506 $ 51,612 Southwest 8,784 9,905 Central — — Southeast 2,504 2,499 Total $ 64,794 $ 64,016 Assets: West Coast $ 1,747,786 $ 1,847,279 Southwest 586,666 564,636 Central 901,516 909,497 Southeast 359,307 414,730 Corporate and other 1,433,883 1,384,983 Total $ 5,029,158 $ 5,121,125

Financial Services (Tables)

Financial Services (Tables)	12 Months Ended
	Nov. 30, 2017
Segment Reporting Information [Line Items]
Financial services income loss	The following tables present financial information relating to our financial services reporting segment (in thousands): Years Ended November 30, 2017 2016 2015 Revenues Insurance commissions $ 6,991 $ 6,728 $ 7,137 Title services 5,268 4,975 3,905 Interest income 5 — 1 Total 12,264 11,703 11,043 Expenses General and administrative (3,430 ) (3,817 ) (3,711 ) Operating income 8,834 7,886 7,332 Equity in income (loss) of unconsolidated joint ventures 4,234 (3,420 ) 4,292 Pretax income $ 13,068 $ 4,466 $ 11,624
Financial services [Member]
Segment Reporting Information [Line Items]
Financial services assets liabilities	November 30, 2017 2016 Assets Cash and cash equivalents $ 231 $ 914 Receivables 1,724 1,764 Investments in unconsolidated joint ventures (a) 10,340 7,771 Other assets 62 50 Total assets $ 12,357 $ 10,499 Liabilities Accounts payable and accrued expenses $ 966 $ 2,003 Total liabilities $ 966 $ 2,003

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Nov. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts): Years Ended November 30, 2017 2016 2015 Numerator: Net income $ 180,595 $ 105,615 $ 84,643 Less: Distributed earnings allocated to nonvested restricted stock (56 ) (45 ) (33 ) Less: Undistributed earnings allocated to nonvested restricted stock (1,121 ) (508 ) (273 ) Numerator for basic earnings per share 179,418 105,062 84,337 Effect of dilutive securities: Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes 2,654 2,667 2,667 Add: Undistributed earnings allocated to nonvested restricted stock 1,121 508 273 Less: Undistributed earnings reallocated to nonvested restricted stock (979 ) (453 ) (244 ) Numerator for diluted earnings per share $ 182,214 $ 107,784 $ 87,033 Denominator: Weighted average shares outstanding — basic 85,842 85,706 92,054 Effect of dilutive securities: Share-based payments 4,072 2,170 2,401 Convertible senior notes 8,402 8,402 8,402 Weighted average shares outstanding — diluted 98,316 96,278 102,857 Basic earnings per share $ 2.09 $ 1.23 $ .92 Diluted earnings per share $ 1.85 $ 1.12 $ .85

Receivables (Tables)

Receivables (Tables)	12 Months Ended
	Nov. 30, 2017
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Receivables consisted of the following (in thousands): November 30, 2017 2016 Due from utility companies, improvement districts and municipalities (a) $ 113,744 $ 102,780 Recoveries related to self-insurance and other legal claims 91,763 84,476 Refundable deposits and bonds 13,829 13,665 Recoveries related to warranty and other claims 4,073 14,609 Other 33,797 28,745 Subtotal 257,206 244,275 Allowance for doubtful accounts (12,993 ) (12,610 ) Total $ 244,213 $ 231,665 (a) These receivables typically relate to infrastructure improvements we make with respect to our communities. We are generally reimbursed for the cost of such improvements when they are accepted by the utility company, improvement district or municipality, or after certain events occur, depending on the terms of the applicable agreements. These events may include, but are not limited to, the connection of utilities or the issuance of bonds by the respective improvement districts or municipalities.

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Nov. 30, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in thousands): November 30, 2017 2016 Homes under construction $ 1,236,848 $ 1,245,938 Land under development 1,651,339 1,727,657 Land held for future development or sale (a) 375,199 429,633 Total $ 3,263,386 $ 3,403,228
Interest costs	Our interest costs were as follows (in thousands): Years Ended November 30, 2017 2016 2015 Capitalized interest at beginning of year $ 306,723 $ 288,442 $ 266,668 Interest incurred (a) 177,171 185,466 186,885 Interest expensed (a) (6,307 ) (5,900 ) (21,856 ) Interest amortized to construction and land costs (b) (215,396 ) (161,285 ) (143,255 ) Capitalized interest at end of year (c) $ 262,191 $ 306,723 $ 288,442 (a) Interest incurred and interest expensed for the year ended November 30, 2017 included a charge of $5.7 million for the early extinguishment of debt. (b) Interest amortized to construction and land costs for the years ended November 30, 2017 , 2016 and 2015 included $4.9 million , $.7 million and $16.4 million , respectively, related to land sales during the periods. (c) Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.

Inventory Impairments and Lan38

Inventory Impairments and Land Option Contract Abandonments (Tables)	12 Months Ended
	Nov. 30, 2017
Inventory Impairments and Land Option Contract Abandonments [Abstract]
Schedule of significant unobservable inputs	The following table summarizes ranges for significant quantitative unobservable inputs we utilized in our fair value measurements with respect to impaired communities, other than land held for sale, written down to fair value during the years presented: Years Ended November 30, Unobservable Input (a) 2017 2016 2015 Average selling price $207,100 - $1,576,500 $216,200 - $977,400 $178,100 - $509,400 Deliveries per month 1 - 4 1 - 4 2 - 4 Discount rate 17% - 18% 17% - 20% 17% - 20% (a) The ranges of inputs used in each period primarily reflect differences between the housing markets where each impacted community is located, rather than fluctuations in prevailing market conditions.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Nov. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table presents a summary of our interests in land option contracts and other similar contracts (in thousands): November 30, 2017 November 30, 2016 Cash Deposits Aggregate Purchase Price Cash Deposits Aggregate Purchase Price Unconsolidated VIEs $ 43,171 $ 653,858 $ 24,910 $ 641,642 Other land option contracts and other similar contracts 21,531 440,229 17,919 431,954 Total $ 64,702 $ 1,094,087 $ 42,829 $ 1,073,596

Investments in Unconsolidated40

Investments in Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Nov. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Statements of operations of unconsolidated joint ventures	The following table presents combined condensed information from the statements of operations of our unconsolidated joint ventures (in thousands): Years Ended November 30, 2017 2016 2015 Revenues $ 47,431 $ 46,389 $ 15,322 Construction and land costs (47,459 ) (50,566 ) (23,123 ) Other expenses, net (4,749 ) (4,465 ) (3,360 ) Loss $ (4,777 ) $ (8,642 ) $ (11,161 )
Balance sheets of unconsolidated joint ventures	The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands): November 30, 2017 2016 Assets Cash $ 21,193 $ 31,928 Receivables 688 882 Inventories 145,519 165,385 Other assets 1,398 629 Total assets $ 168,798 $ 198,824 Liabilities and equity Accounts payable and other liabilities $ 25,426 $ 19,880 Notes payable (a) 20,040 44,381 Equity 123,332 134,563 Total liabilities and equity $ 168,798 $ 198,824 (a) As of November 30, 2017 and 2016, two and one of our unconsolidated joint ventures, respectively, had separate construction loan agreements with different third-party lenders to finance their respective land development activities. The outstanding debt under these agreements is secured by the corresponding underlying property and related project assets and is non-recourse to us. Of this outstanding secured debt at November 30, 2017 , $19.8 million is scheduled to mature in August 2018 and the remainder is scheduled to mature in February 2020. None of our other unconsolidated joint ventures had outstanding debt at November 30, 2017 or 2016 .
Information related investments in unconsolidated joint ventures	The following table presents additional information relating to our investments in unconsolidated joint ventures (dollars in thousands): November 30, 2017 2016 Number of investments in unconsolidated joint ventures 7 7 Investments in unconsolidated joint ventures $ 64,794 $ 64,016 Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts 377 471

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Nov. 30, 2017
Other Assets [Abstract]
Other Assets	Other assets consisted of the following (in thousands): November 30, 2017 2016 Cash surrender value of corporate-owned life insurance contracts $ 75,236 $ 70,829 Property and equipment, net 19,521 14,240 Prepaid expenses 5,360 4,894 Debt issuance costs associated with unsecured revolving credit facility 2,381 1,182 Total $ 102,498 $ 91,145

Accrued Expenses and Other Li42

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Nov. 30, 2017
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following (in thousands): November 30, 2017 2016 Self-insurance and other legal liabilities $ 222,808 $ 170,988 Employee compensation and related benefits 143,992 130,352 Warranty liability 69,798 56,682 Accrued interest payable 65,343 67,411 Inventory-related obligations (a) 30,108 82,682 Real estate and business taxes 16,874 14,370 Customer deposits 16,863 18,175 Other 10,144 10,336 Total $ 575,930 $ 550,996 (a) Represents liabilities for financing arrangements discussed in Note 8 – Variable Interest Entities, as well as liabilities for fixed or determinable amounts associated with TIFE assessments. As homes are delivered, the obligation to pay the remaining TIFE assessments associated with each underlying lot is transferred to the homebuyer. As such, these assessment obligations will be paid by us only to the extent we do not deliver homes on applicable lots before the related TIFE obligations mature.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Nov. 30, 2017
Income Tax Disclosure [Abstract]
Component of income tax benefit (expense) in the consolidated statement of operations	The components of the income tax expense in our consolidated statements of operations are as follows (in thousands): Federal State Total 2017 Current $ (2,800 ) $ (3,000 ) $ (5,800 ) Deferred (86,300 ) (17,300 ) (103,600 ) Income tax expense $ (89,100 ) $ (20,300 ) $ (109,400 ) 2016 Current $ (1,900 ) $ (1,000 ) $ (2,900 ) Deferred (28,700 ) (12,100 ) (40,800 ) Income tax expense $ (30,600 ) $ (13,100 ) $ (43,700 ) 2015 Current $ (1,400 ) $ (2,000 ) $ (3,400 ) Deferred (35,900 ) (3,100 ) (39,000 ) Income tax expense $ (37,300 ) $ (5,100 ) $ (42,400 )
Components of deferred tax liabilities and assets	Significant components of our deferred tax liabilities and assets are as follows (in thousands): November 30, 2017 2016 Deferred tax liabilities: Capitalized expenses $ 98,147 $ 116,551 State taxes 59,174 65,766 Other 313 286 Total 157,634 182,603 Deferred tax assets: NOLs from 2006 through 2017 236,273 350,329 Tax credits 208,841 197,766 Inventory impairment and land option contract abandonment charges 139,737 176,555 Employee benefits 100,200 102,321 Warranty, legal and other accruals 60,238 51,448 Capitalized expenses 39,195 36,950 Partnerships and joint ventures 14,784 16,293 Depreciation and amortization 7,333 8,530 Other 8,270 6,196 Total 814,871 946,388 Valuation allowance (23,600 ) (24,800 ) Total 791,271 921,588 Deferred tax assets, net $ 633,637 $ 738,985
Income tax benefit computed at the statutory U.S. federal income tax rate and income tax benefit (expense) provided in the consolidated statements of operations	The income tax expense computed at the statutory U.S. federal income tax rate and the income tax expense provided in our consolidated statements of operations differ as follows (dollars in thousands): Years Ended November 30, 2017 2016 2015 $ % $ % $ % Income tax expense computed at statutory rate $ (101,499 ) (35.0 )% $ (52,260 ) (35.0 )% $ (44,462 ) (35.0 )% Tax credits 6,227 2.2 4,447 3.0 6,926 5.5 Valuation allowance for deferred tax assets 1,200 .4 12,982 8.7 3,356 2.6 Depreciation and amortization 362 .1 1,842 1.2 3,183 2.5 Basis in unconsolidated joint ventures 74 — (86 ) (.1 ) 1,617 1.3 NOL reconciliation (2,210 ) (.8 ) (3,691 ) (2.5 ) (3,379 ) (2.7 ) State taxes, net of federal income tax benefit (14,450 ) (4.9 ) (7,511 ) (5.0 ) (5,155 ) (4.1 ) Other, net 896 .3 577 .4 (4,486 ) (3.5 ) Income tax expense $ (109,400 ) (37.7 )% $ (43,700 ) (29.3 )% $ (42,400 ) (33.4 )%
Reconciliation of the beginning and ending balances of the gross unrecognized benefits	A reconciliation of the beginning and ending balances of gross unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands): Years Ended November 30, 2017 2016 2015 Balance at beginning of year $ 56 $ 56 $ 206 Reductions due to lapse of statute of limitations — — (150 ) Balance at end of year $ 56 $ 56 $ 56

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Nov. 30, 2017
Debt Instrument [Line Items]
Mortgages and Notes Payable	Notes payable consisted of the following (in thousands): November 30, 2017 2016 Mortgages and land contracts due to land sellers and other loans (at interest rates of 1% to 3% at November 30, 2017 and 1% to 7% at November 30, 2016) $ 10,203 $ 66,927 9.10% Senior notes due September 15, 2017 — 263,932 7 1/4% Senior notes due June 15, 2018 299,867 299,647 4.75% Senior notes due May 15, 2019 398,397 397,364 8.00% Senior notes due March 15, 2020 346,238 344,811 7.00% Senior notes due December 15, 2021 446,608 445,911 7.50% Senior notes due September 15, 2022 347,234 346,774 7.625% Senior notes due May 15, 2023 247,726 247,404 1.375% Convertible senior notes due February 1, 2019 228,572 227,379 Total $ 2,324,845 $ 2,640,149 The key terms of each of our senior notes outstanding as of November 30, 2017 were as follows (dollars in thousands): Redeemable Prior to Maturity Effective Interest Rate Notes Payable Principal Issuance Date Maturity Date 7 1/4% Senior notes $ 300,000 April 3, 2006 June 15, 2018 Yes (a) 7.3 % 4.75% Senior notes 400,000 March 25, 2014 May 15, 2019 Yes (b) 5.0 8.00% Senior notes 350,000 February 7, 2012 March 15, 2020 Yes (a) 8.5 7.00% Senior notes 450,000 October 29, 2013 December 15, 2021 Yes (b) 7.2 7.50% Senior notes 350,000 July 31, 2012 September 15, 2022 Yes (a) 7.7 7.625% Senior notes 250,000 February 17, 2015 May 15, 2023 Yes (b) 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 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, 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. (c) We may not redeem these notes prior to November 6, 2018. On or after November 6, 2018, and 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.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Nov. 30, 2017
Fair Value Disclosures [Abstract]
Assets measured at fair value on a nonrecurring basis	The following table presents the fair value hierarchy and our assets measured at fair value on a nonrecurring basis (in thousands): Fair Value Hierarchy For the Years Ended November 30, Description 2017 2016 Inventories (a) Level 2 $ — $ 3,657 Inventories (a) Level 3 38,357 37,329 (a) Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable period, as of the date that the fair value measurements were made. The carrying value for these real estate assets may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date.
Carrying values and estimated fair values of financial instruments	The following table presents the fair value hierarchy, carrying values and estimated fair values of our financial instruments, except those for which the carrying values approximate fair values (in thousands): November 30, 2017 2016 Fair Value Hierarchy Carrying Value (a) Estimated Fair Value Carrying Value (a) Estimated Fair Value Financial Liabilities: Senior notes Level 2 $ 2,086,070 $ 2,292,250 $ 2,345,843 $ 2,494,844 Convertible senior notes Level 2 228,572 278,300 227,379 223,675 (a) The carrying values for the senior notes and convertible senior notes, as presented, include unamortized debt issuance costs. Debt issuance costs are not factored into the estimated fair values of these notes.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Nov. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	The changes in our warranty liability were as follows (in thousands): Years Ended November 30, 2017 2016 2015 Balance at beginning of year $ 56,682 $ 49,085 $ 45,196 Warranties issued 38,452 30,135 23,018 Payments (a) (25,336 ) (23,190 ) (26,367 ) Adjustments (b) — 652 7,238 Balance at end of year $ 69,798 $ 56,682 $ 49,085 (a) Payments for 2016 and 2015 included $2.3 million and $8.4 million , respectively, to repair homes affected by water intrusion-related issues in certain of our communities in central and southwest Florida. (b) Adjustments for 2016 and 2015 included the reclassification of certain estimated minimum probable recoveries to receivables in connection with the above-noted water intrusion-related issues. The adjustments for each year had no impact on our consolidated statements of operations.
Schedule of Self-Insurance Liability	The changes in our self-insurance liability were as follows (in thousands): Years Ended November 30, 2017 2016 2015 Balance at beginning of year $ 158,584 $ 173,011 $ 205,228 Self-insurance expense (a) 20,371 24,808 18,590 Payments (9,720 ) (28,395 ) (21,201 ) Adjustments (b) 8,460 (10,840 ) (29,606 ) Balance at end of year $ 177,695 $ 158,584 $ 173,011 (a) These expenses are included in selling, general and administrative expenses and are largely offset by contributions from independent subcontractors participating in the wrap-up policy. (b) The amount for each period reflects changes in our self-insurance liability that were offset by changes in the receivable for estimated probable insurance and other recoveries to present our self-insurance liability on a gross basis. The amount for 2017 also includes a $21.7 million change in estimate to increase our self-insurance liability to reflect claim frequency and severity trends, which indicated that probable future payments for claims relating to homes delivered in certain prior years were likely to exceed the previously estimated liabilities remaining for those claims . Therefore, we recorded an adjustment in the 2017 third quarter to increase our self-insurance liability, based on an actuarially determined estimate, to an amount expected to have a higher probability of being adequate to cover future payments associated with unresolved claims, including claims incurred but not yet reported. This adjustment is included in selling, general and administrative expenses.
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum rental payments under operating leases, which primarily consist of office leases having initial or remaining noncancelable lease terms in excess of one year , are as follows: 2018 — $8.3 million ; 2019 — $7.6 million ; 2020 — $4.7 million ; 2021 — $2.5 million ; 2022 — $1.8 million ; and thereafter — $5.8 million . Re

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Nov. 30, 2017
Equity [Abstract]
Changes in the balances of each component of accumulated other comprehensive loss	The following table presents the changes in the balances of each component of accumulated other comprehensive loss (in thousands): Postretirement Benefit Plan Adjustments Total Accumulated Other Comprehensive Loss Balance at November 30, 2015 $ (17,319 ) Other comprehensive income before reclassifications 468 Amounts reclassified from accumulated other comprehensive loss 1,635 Income tax expense related to items of other comprehensive income (841 ) Other comprehensive income, net of tax 1,262 Balance at November 30, 2016 (16,057 ) Other comprehensive loss before reclassifications (3,143 ) Amounts reclassified from accumulated other comprehensive loss 1,698 Income tax benefit related to items of other comprehensive loss 578 Other comprehensive loss, net of tax (867 ) Balance at November 30, 2017 $ (16,924 )
Amounts reclassified from accumulated other comprehensive loss	The amounts reclassified from accumulated other comprehensive loss consisted of the following (in thousands): Years Ended November 30, Details About Accumulated Other Comprehensive Loss Components 2017 2016 2015 Postretirement benefit plan adjustments Amortization of net actuarial loss $ 142 $ 79 $ 848 Amortization of prior service cost 1,556 1,556 1,556 Total reclassifications (a) $ 1,698 $ 1,635 $ 2,404 (a) The accumulated other comprehensive loss components are included in the computation of net periodic benefit costs as further discussed in Note 20 – Postretirement Benefits.

Employee Benefit and Stock Pl48

Employee Benefit and Stock Plans (Tables)	12 Months Ended
	Nov. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation Expense	The following table presents our stock-based compensation expense (in thousands): Years Ended November 30, 2017 2016 2015 Stock options $ 2,592 $ 7,076 $ 7,576 Restricted stock 4,177 2,630 2,499 PSUs 6,439 5,343 5,404 Director awards 1,425 1,801 1,664 Total $ 14,633 $ 16,850 $ 17,143
Stock option transactions	Stock option transactions are summarized as follows: Years Ended November 30, 2017 2016 2015 Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options outstanding at beginning of year 12,731,545 $ 18.95 12,635,644 $ 19.39 11,735,042 $ 20.45 Granted — — 1,012,686 16.21 1,262,000 14.92 Exercised (1,650,360 ) 16.01 (551,898 ) 13.95 (76,164 ) 9.69 Cancelled (1,815,945 ) 28.31 (364,887 ) 34.07 (285,234 ) 45.80 Options outstanding at end of year 9,265,240 $ 17.64 12,731,545 $ 18.95 12,635,644 $ 19.39 Options exercisable at end of year 8,307,632 $ 17.86 10,506,810 $ 19.70 10,389,722 $ 20.35 Options available for grant at end of year 7,495,792 7,034,523 1,554,195
Stock options outstanding and stock options exercisable	Stock options outstanding and stock options exercisable at November 30, 2017 are summarized as follows: Options Outstanding Options Exercisable Range of Exercise Price Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life $ 6.32 to $11.05 1,361,500 $ 6.36 3.9 1,361,500 $ 6.36 $11.06 to $14.62 2,165,435 12.96 5.0 2,165,435 12.96 $14.63 to $16.20 2,064,255 15.15 5.0 1,709,586 15.19 $16.21 to $28.10 2,106,093 17.62 5.3 1,503,154 18.18 $28.11 to $45.68 1,567,957 37.23 1.4 1,567,957 37.23 $ 6.32 to $45.68 9,265,240 $ 17.64 4.3 8,307,632 $ 17.86 3.8
Assumptions of Black-Scholes option-pricing model	he fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Years Ended November 30, 2017 2016 2015 Risk-free interest rate — 1.3 % 1.4 % Expected volatility factor — 41.3 % 43.6 % Expected dividend yield — .6 % .7 % Expected term — 5 years 5 years
Restricted stock transactions	Restricted stock transactions are summarized as follows: Years Ended November 30, 2017 2016 2015 Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Outstanding at beginning of year 604,619 $ 16.24 416,977 $ 15.88 355,294 $ 15.81 Granted 321,835 24.49 453,703 15.73 285,006 15.19 Vested (364,670 ) 16.09 (252,854 ) 14.78 (204,663 ) 14.83 Cancelled (57,858 ) 15.61 (13,207 ) 15.12 (18,660 ) 15.45 Outstanding at end of year 503,926 $ 21.69 604,619 $ 16.24 416,977 $ 15.88
Schedule of Share Based Payments Performance Shares Activity	PSU transactions are summarized as follows: Years Ended November 30, 2017 2016 2015 Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Outstanding at beginning of year 809,860 $ 17.19 820,209 $ 15.52 628,209 $ 15.70 Granted 424,797 22.99 369,281 13.81 192,000 14.92 Vested (278,460 ) 16.67 (374,630 ) 10.21 — — Cancelled (30,965 ) 14.92 (5,000 ) 16.21 — — Outstanding at end of year 925,232 $ 20.09 809,860 $ 17.19 820,209 $ 15.52

Postretirement Benefits (Tables

Postretirement Benefits (Tables)	12 Months Ended
	Nov. 30, 2017
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The net periodic benefit cost of our Retirement Plan and DBO Plan consisted of the following (in thousands): Years Ended November 30, 2017 2016 2015 Interest cost $ 2,274 $ 2,285 $ 2,270 Amortization of prior service cost 1,556 1,556 1,556 Service cost 1,046 1,045 1,142 Amortization of net actuarial loss 142 79 848 Total $ 5,018 $ 4,965 $ 5,816

Supplemental Disclosure to Co50

Supplemental Disclosure to Consolidated Statements of Cash Flows (Tables)	12 Months Ended
	Nov. 30, 2017
Supplemental Cash Flow Information [Abstract]
Supplemental disclosures to the consolidated statements of cash flows	The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Years Ended November 30, 2017 2016 2015 Summary of cash and cash equivalents at the end of the year: Homebuilding $ 720,630 $ 592,086 $ 559,042 Financial services 231 914 1,299 Total $ 720,861 $ 593,000 $ 560,341 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 2,690 $ 1,134 $ 22,486 Income taxes paid 4,664 3,307 3,612 Income taxes refunded 202 550 11 Supplemental disclosure of non-cash activities: Reclassification of warranty recoveries to receivables $ — $ 2,151 $ 7,238 Increase (decrease) in consolidated inventories not owned (44,833 ) (59,413 ) 106,807 Increase in inventories due to distributions of land and land development from an unconsolidated joint venture 6,650 4,277 12,705 Inventories acquired through seller financing 49,658 99,108 20,291

Supplemental Guarantor Inform51

Supplemental Guarantor Information (Tables)	12 Months Ended
	Nov. 30, 2017
Guarantees [Abstract]
Condensed Consolidating Statements of Operations	Condensed Consolidating Statements of Operations (in thousands) Year Ended November 30, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 3,957,267 $ 411,262 $ — $ 4,368,529 Homebuilding: Revenues $ — $ 3,957,267 $ 398,998 $ — $ 4,356,265 Construction and land costs — (3,286,891 ) (359,577 ) — (3,646,468 ) Selling, general and administrative expenses (91,120 ) (293,233 ) (42,041 ) — (426,394 ) Operating income (loss) (91,120 ) 377,143 (2,620 ) — 283,403 Interest income 1,232 8 — — 1,240 Interest expense (172,102 ) (1,635 ) (3,434 ) 170,864 (6,307 ) Intercompany interest 266,784 (117,926 ) 22,006 (170,864 ) — Equity in loss of unconsolidated joint ventures — (1,407 ) (2 ) — (1,409 ) Homebuilding pretax income 4,794 256,183 15,950 — 276,927 Financial services pretax income — — 13,068 — 13,068 Total pretax income 4,794 256,183 29,018 — 289,995 Income tax expense (8,800 ) (100,000 ) (600 ) — (109,400 ) Equity in net income of subsidiaries 184,601 — — (184,601 ) — Net income $ 180,595 $ 156,183 $ 28,418 $ (184,601 ) $ 180,595 Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 3,169,545 $ 425,101 $ — $ 3,594,646 Homebuilding: Revenues $ — $ 3,169,545 $ 413,398 $ — $ 3,582,943 Construction and land costs — (2,661,888 ) (379,213 ) — (3,041,101 ) Selling, general and administrative expenses (91,859 ) (251,384 ) (46,198 ) — (389,441 ) Operating income (loss) (91,859 ) 256,273 (12,013 ) — 152,401 Interest income 470 55 4 — 529 Interest expense (177,329 ) (3,958 ) (3,946 ) 179,333 (5,900 ) Intercompany interest 301,432 (107,388 ) (14,711 ) (179,333 ) — Equity in loss of unconsolidated joint ventures — (2,179 ) (2 ) — (2,181 ) Homebuilding pretax income (loss) 32,714 142,803 (30,668 ) — 144,849 Financial services pretax income — — 4,466 — 4,466 Total pretax income (loss) 32,714 142,803 (26,202 ) — 149,315 Income tax benefit (expense) 17,200 (52,700 ) (8,200 ) — (43,700 ) Equity in net income of subsidiaries 55,701 — — (55,701 ) — Net income (loss) $ 105,615 $ 90,103 $ (34,402 ) $ (55,701 ) $ 105,615 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 2,640,678 $ 391,352 $ — $ 3,032,030 Homebuilding: Revenues $ — $ 2,640,678 $ 380,309 $ — $ 3,020,987 Construction and land costs — (2,196,228 ) (343,140 ) — (2,539,368 ) Selling, general and administrative expenses (86,053 ) (213,292 ) (43,653 ) — (342,998 ) Operating income (loss) (86,053 ) 231,158 (6,484 ) — 138,621 Interest income 451 6 1 — 458 Interest expense (180,701 ) (6,184 ) — 165,029 (21,856 ) Intercompany interest 289,727 (101,540 ) (23,158 ) (165,029 ) — Equity in loss of unconsolidated joint ventures — (1,803 ) (1 ) — (1,804 ) Homebuilding pretax income (loss) 23,424 121,637 (29,642 ) — 115,419 Financial services pretax income — — 11,624 — 11,624 Total pretax income (loss) 23,424 121,637 (18,018 ) — 127,043 Income tax benefit (expense) 2,000 (46,700 ) 2,300 — (42,400 ) Equity in net income of subsidiaries 59,219 — — (59,219 ) — Net income (loss) $ 84,643 $ 74,937 $ (15,718 ) $ (59,219 ) $ 84,643
Condensed Consolidating Statements of Comprehensive Income (Loss)	Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands) Year Ended November 30, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income $ 180,595 $ 156,183 $ 28,418 $ (184,601 ) $ 180,595 Other comprehensive loss: Postretirement benefit plan adjustments (1,445 ) — — — (1,445 ) Other comprehensive loss before tax (1,445 ) — — — (1,445 ) Income tax benefit related to items of other comprehensive loss 578 — — — 578 Other comprehensive loss, net of tax (867 ) — — — (867 ) Comprehensive income $ 179,728 $ 156,183 $ 28,418 $ (184,601 ) $ 179,728 Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 105,615 $ 90,103 $ (34,402 ) $ (55,701 ) $ 105,615 Other comprehensive income: Postretirement benefit plan adjustments 2,103 — — — 2,103 Other comprehensive income before tax 2,103 — — — 2,103 Income tax expense related to items of other comprehensive income (841 ) — — — (841 ) Other comprehensive income, net of tax 1,262 — — — 1,262 Comprehensive income (loss) $ 106,877 $ 90,103 $ (34,402 ) $ (55,701 ) $ 106,877 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 84,643 $ 74,937 $ (15,718 ) $ (59,219 ) $ 84,643 Other comprehensive income: Postretirement benefit plan adjustments 6,149 — — — 6,149 Other comprehensive income before tax 6,149 — — — 6,149 Income tax expense related to items of other comprehensive income (2,460 ) — — — (2,460 ) Other comprehensive income, net of tax 3,689 — — — 3,689 Comprehensive income (loss) $ 88,332 $ 74,937 $ (15,718 ) $ (59,219 ) $ 88,332
Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets (in thousands) November 30, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 575,193 $ 102,661 $ 42,776 $ — $ 720,630 Receivables 24,815 144,076 75,322 — 244,213 Inventories — 2,929,466 333,920 — 3,263,386 Investments in unconsolidated joint ventures — 62,290 2,504 — 64,794 Deferred tax assets, net 250,747 243,523 139,367 — 633,637 Other assets 91,592 8,424 2,482 — 102,498 942,347 3,490,440 596,371 — 5,029,158 Financial services — — 12,357 — 12,357 Intercompany receivables 3,414,237 — 107,992 (3,522,229 ) — Investments in subsidiaries 49,776 — — (49,776 ) — Total assets $ 4,406,360 $ 3,490,440 $ 716,720 $ (3,572,005 ) $ 5,041,515 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 163,984 $ 371,909 $ 253,500 $ — $ 789,393 Notes payable 2,289,532 9,283 26,030 — 2,324,845 2,453,516 381,192 279,530 — 3,114,238 Financial services — — 966 — 966 Intercompany payables 26,533 3,109,248 386,448 (3,522,229 ) — Stockholders’ equity 1,926,311 — 49,776 (49,776 ) 1,926,311 Total liabilities and stockholders’ equity $ 4,406,360 $ 3,490,440 $ 716,720 $ (3,572,005 ) $ 5,041,515 November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 463,100 $ 100,439 $ 28,547 $ — $ 592,086 Receivables 4,807 135,915 90,943 — 231,665 Inventories — 3,048,132 355,096 — 3,403,228 Investments in unconsolidated joint ventures — 61,517 2,499 — 64,016 Deferred tax assets, net 276,737 318,077 144,171 — 738,985 Other assets 79,526 9,177 2,442 — 91,145 824,170 3,673,257 623,698 — 5,121,125 Financial services — — 10,499 — 10,499 Intercompany receivables 3,559,012 — 97,062 (3,656,074 ) — Investments in subsidiaries 35,965 — — (35,965 ) — Total assets $ 4,419,147 $ 3,673,257 $ 731,259 $ (3,692,039 ) $ 5,131,624 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 131,530 $ 397,605 $ 237,192 $ — $ 766,327 Notes payable 2,548,112 66,927 25,110 — 2,640,149 2,679,642 464,532 262,302 — 3,406,476 Financial services — — 2,003 — 2,003 Intercompany payables 16,360 3,208,725 430,989 (3,656,074 ) — Stockholders’ equity 1,723,145 — 35,965 (35,965 ) 1,723,145 Total liabilities and stockholders’ equity $ 4,419,147 $ 3,673,257 $ 731,259 $ (3,692,039 ) $ 5,131,624
Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows (in thousands) Year Ended November 30, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by operating activities $ 70,683 $ 374,524 $ 68,012 $ — $ 513,219 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (13,563 ) (5,131 ) — (18,694 ) Return of investments in unconsolidated joint ventures — 4,119 6,916 — 11,035 Purchases of property and equipment, net (7,215 ) (819 ) (51 ) — (8,085 ) Intercompany 311,857 — — (311,857 ) — Net cash provided by (used in) investing activities 304,642 (10,263 ) 1,734 (311,857 ) (15,744 ) Cash flows from financing activities: Repayment of senior notes (270,326 ) — — — (270,326 ) Issuance costs for unsecured revolving credit facility (1,711 ) — — — (1,711 ) Payments on mortgages and land contracts due to land sellers and other loans — (106,382 ) — — (106,382 ) Issuance of common stock under employee stock plans 23,162 — — — 23,162 Excess tax benefits from stock-based compensation 958 — — — 958 Payments of cash dividends (8,642 ) — — — (8,642 ) Stock repurchases (6,673 ) — — — (6,673 ) Intercompany — (255,657 ) (56,200 ) 311,857 — Net cash used in financing activities (263,232 ) (362,039 ) (56,200 ) 311,857 (369,614 ) Net increase in cash and cash equivalents 112,093 2,222 13,546 — 127,861 Cash and cash equivalents at beginning of year 463,100 100,439 29,461 — 593,000 Cash and cash equivalents at end of year $ 575,193 $ 102,661 $ 43,007 $ — $ 720,861 Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ (40,277 ) $ 188,372 $ 40,560 $ — $ 188,655 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (4,852 ) (750 ) — (5,602 ) Return of investments in unconsolidated joint ventures — 4,307 — — 4,307 Purchases of property and equipment, net (4,052 ) (555 ) (177 ) — (4,784 ) Intercompany 144,651 — — (144,651 ) — Net cash provided by (used in) investing activities 140,599 (1,100 ) (927 ) (144,651 ) (6,079 ) Cash flows from financing activities: Change in restricted cash 9,344 — — — 9,344 Payments on mortgages and land contracts due to land sellers and other loans — (67,845 ) — — (67,845 ) Issuance of common stock under employee stock plans 5,343 — — — 5,343 Excess tax benefits from stock-based compensation 186 — — — 186 Payments of cash dividends (8,586 ) — — — (8,586 ) Stock repurchases (88,359 ) — — — (88,359 ) Intercompany — (115,729 ) (28,922 ) 144,651 — Net cash used in financing activities (82,072 ) (183,574 ) (28,922 ) 144,651 (149,917 ) Net increase in cash and cash equivalents 18,250 3,698 10,711 — 32,659 Cash and cash equivalents at beginning of year 444,850 96,741 18,750 — 560,341 Cash and cash equivalents at end of year $ 463,100 $ 100,439 $ 29,461 $ — $ 593,000 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by operating activities $ 44,422 $ 110,688 $ 26,075 $ — $ 181,185 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (20,625 ) (1 ) — (20,626 ) Return of investments in unconsolidated joint ventures — 14,000 — — 14,000 Purchases of property and equipment, net (2,890 ) (1,271 ) (516 ) — (4,677 ) Intercompany 45,470 — — (45,470 ) — Net cash provided by (used in) investing activities 42,580 (7,896 ) (517 ) (45,470 ) (11,303 ) Cash flows from financing activities: Change in restricted cash 17,891 — — — 17,891 Proceeds from issuance of debt 250,000 — — — 250,000 Payment of debt issuance costs (4,561 ) — — — (4,561 ) Repayment of senior notes (199,906 ) — — — (199,906 ) Payments on mortgages and land contracts due to land sellers and other loans — (22,877 ) — — (22,877 ) Issuance of common stock under employee stock plans 740 — — — 740 Excess tax benefits from stock-based compensation 157 — — — 157 Payments of cash dividends (9,186 ) — — — (9,186 ) Stock repurchases (567 ) — — — (567 ) Intercompany — (19,586 ) (25,884 ) 45,470 — Net cash provided by (used in) financing activities 54,568 (42,463 ) (25,884 ) 45,470 31,691 Net increase (decrease) in cash and cash equivalents 141,570 60,329 (326 ) — 201,573 Cash and cash equivalents at beginning of year 303,280 36,412 19,076 — 358,768 Cash and cash equivalents at end of year $ 444,850 $ 96,741 $ 18,750 $ — $ 560,341

Quarterly Results (unaudited) (

Quarterly Results (unaudited) (Tables)	12 Months Ended
	Nov. 30, 2017
Quarterly Financial Information Disclosure [Abstract]
Consolidated quarterly results	The following tables present our consolidated quarterly results for the years ended November 30, 2017 and 2016 (in thousands, except per share amounts): First Quarter Second Quarter Third Quarter Fourth Quarter 2017 Revenues $ 818,596 $ 1,002,794 $ 1,144,001 $ 1,403,138 Gross profits 119,697 155,382 188,110 255,442 Inventory impairment and land option contract abandonment charges 4,008 6,001 8,113 7,110 Pretax income 21,459 51,982 79,208 137,346 Net income 14,259 31,782 50,208 84,346 Earnings per share: Basic $ .17 $ .37 $ .58 $ .97 Diluted .15 .33 .51 .84 2016 Revenues $ 678,371 $ 811,050 $ 913,283 $ 1,191,942 Gross profits 108,694 121,465 151,902 167,667 Inventory impairment and land option contract abandonment charges 1,966 11,740 3,052 36,054 Pretax income 16,027 24,797 53,463 55,028 Net income 13,127 15,597 39,363 37,528 Earnings per share: Basic $ .15 $ .18 $ .46 $ .44 Diluted .14 .17 .42 .40

Summary of Significant Accoun53

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Accounting Policies [Abstract]
Cash equivalents	$ 481,100	$ 396,100
Schedule of Equity Method Investments [Line Items]
Impairment of Real Estate	20,605	49,580	$ 8,030
Property and equipment amount	19,521	14,240
Accumulated depreciation	19,000	18,200
Depreciation expense	2,791	3,637	3,411
Advertising costs incurred	34,400	32,700	33,400
Expensed legal fees	$ 14,000	$ 13,600	$ 11,700
Minimum
Schedule of Equity Method Investments [Line Items]
Estimated useful life for depreciation of property and equipment	2 years
Maximum
Schedule of Equity Method Investments [Line Items]
Estimated useful life for depreciation of property and equipment	10 years

Segment Information (Details)

Segment Information (Details) $ in Thousands		3 Months Ended								12 Months Ended
		Nov. 30, 2017USD ($)	Aug. 31, 2017USD ($)	May 31, 2017USD ($)	Feb. 28, 2017USD ($)	Nov. 30, 2016USD ($)	Aug. 31, 2016USD ($)	May 31, 2016USD ($)	Feb. 29, 2016USD ($)	Nov. 30, 2017USD ($)segment	Nov. 30, 2016USD ($)	Nov. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Inventory, Homes under Construction		$ 1,236,848				$ 1,245,938				$ 1,236,848	$ 1,245,938
Inventory, Real Estate, Land and Land Development Costs		1,651,339				1,727,657				1,651,339	1,727,657
Inventory, Land Held for Development and Sale	[1]	375,199				429,633				375,199	429,633
Inventory, Operative Builders		3,263,386				3,403,228				3,263,386	3,403,228
Revenues:
Revenues										4,356,265	3,582,943	$ 3,020,987
Pretax income (loss):
Pretax income (loss)		137,346	$ 79,208	$ 51,982	$ 21,459	55,028	$ 53,463	$ 24,797	$ 16,027	289,995	149,315	127,043
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										2,825	(5,601)	2,488
Impairment of Real Estate										20,605	49,580	8,030
Assets:
Total assets		5,041,515				5,131,624				5,041,515	5,131,624
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		64,794				64,016				$ 64,794	64,016
Homebuilding [Member]
Segment Reporting Information [Line Items]
Number of Reportable Segments | segment										4
Pretax income (loss):
Pretax income (loss)										$ 276,927	144,849	115,419
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										(1,409)	(2,181)	(1,804)
Assets:
Total assets		5,029,158				5,121,125				$ 5,029,158	5,121,125
Financial services [Member]
Segment Reporting Information [Line Items]
Number of Reportable Segments | segment										1
Pretax income (loss):
Pretax income (loss)										$ 13,068	4,466	11,624
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										4,234	(3,420)	4,292
Assets:
Total assets		12,357				10,499				12,357	10,499
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures	[2]	$ 10,340				7,771				$ 10,340	7,771
Home Community Mortgage LLC [Member]
Segment Reporting Information [Line Items]
Ownership interest in joint venture		49.90%								49.90%
KBHS, LLC [Member]
Segment Reporting Information [Line Items]
Ownership interest in joint venture		50.00%								50.00%
Corporate and Other [Member] | Homebuilding [Member]
Pretax income (loss):
Pretax income (loss)										$ (101,851)	(98,511)	(92,446)
Assets:
Total assets		$ 1,433,883				1,384,983				1,433,883	1,384,983
Central [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction		320,205				297,290				320,205	297,290
Inventory, Real Estate, Land and Land Development Costs		435,373				456,508				435,373	456,508
Inventory, Land Held for Development and Sale		12,654				15,439				12,654	15,439
Revenues:
Revenues										1,188,839	1,018,535	809,738
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate										0	10,633	0
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		0				0				0	0
Central [Member] | Homebuilding [Member]
Pretax income (loss):
Pretax income (loss)										116,098	85,924	70,959
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										0	0	0
Assets:
Total assets		901,516				909,497				901,516	909,497
West Coast [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction		638,639				695,742				638,639	695,742
Inventory, Real Estate, Land and Land Development Costs		723,761				820,088				723,761	820,088
Inventory, Land Held for Development and Sale		233,188				210,910				233,188	210,910
Revenues:
Revenues										2,186,411	1,638,078	1,402,264
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate										13,482	8,209	645
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		53,506				51,612				53,506	51,612
West Coast [Member] | Homebuilding [Member]
Pretax income (loss):
Pretax income (loss)										217,649	148,014	127,946
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										(1,770)	(1,561)	(1,106)
Assets:
Total assets		1,747,786				1,847,279				1,747,786	1,847,279
Southeast [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction		98,764				122,020				98,764	122,020
Inventory, Real Estate, Land and Land Development Costs		182,533				182,554				182,533	182,554
Inventory, Land Held for Development and Sale		66,882				80,357				66,882	80,357
Revenues:
Revenues										447,963	478,857	410,743
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate										3,678	27,547	4,132
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		2,504				2,499				2,504	2,499
Southeast [Member] | Homebuilding [Member]
Pretax income (loss):
Pretax income (loss)										(509)	(29,385)	(22,758)
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										(1)	(2)	(2)
Assets:
Total assets		359,307				414,730				359,307	414,730
Southwest [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction		179,240				130,886				179,240	130,886
Inventory, Real Estate, Land and Land Development Costs		309,672				268,507				309,672	268,507
Inventory, Land Held for Development and Sale		62,475				122,927				62,475	122,927
Revenues:
Revenues										533,052	447,473	398,242
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate										3,445	3,191	3,253
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		8,784				9,905				8,784	9,905
Southwest [Member] | Homebuilding [Member]
Pretax income (loss):
Pretax income (loss)										45,540	38,807	31,718
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										362	(618)	(696)
Assets:
Total assets		$ 586,666				$ 564,636				$ 586,666	564,636
Nationstar Mortgage LLC [Member] | Home Community Mortgage LLC [Member]
Segment Reporting Information [Line Items]
Ownership interest in joint venture		50.10%								50.10%
Stearns Lending, LLC [Member] | KBHS, LLC [Member]
Segment Reporting Information [Line Items]
Ownership interest in joint venture		50.00%								50.00%
Land Option Contract Abandonment [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										$ 4,627	3,232	1,561
Land Option Contract Abandonment [Member] | Central [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										846	460	225
Land Option Contract Abandonment [Member] | West Coast [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										3,225	769	352
Land Option Contract Abandonment [Member] | Southeast [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										556	1,750	984
Land Option Contract Abandonment [Member] | Southwest [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										$ 0	$ 253	$ 0
Metro Washington, D.C. [Member] | Southeast [Member]
Segment Reporting Information [Line Items]
Percent of Homebuilding Revenues											2.00%
Metro Washington, D.C. [Member] | Land Option Contract Abandonment [Member] | Southeast [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination											$ 1,400
[1]	Land held for sale totaled $21.8 million at November 30, 2017 and $63.4 million at November 30, 2016.
[2]	In 2017, we made a $5.3 million capital contribution to KBHS and received a $5.0 million distribution from HCM.

Financial Services (Details)

Financial Services (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Financial services:
Insurance commissions										$ 6,991	$ 6,728	$ 7,137
Title services										5,268	4,975	3,905
Interest income										5	0	1
Total										12,264	11,703	11,043
Expenses
Expenses										(3,430)	(3,817)	(3,711)
Operating income (loss)										283,403	152,401	138,621
Equity in income (loss) of unconsolidated joint ventures										2,825	(5,601)	2,488
Pretax income (loss)		$ 137,346	$ 79,208	$ 51,982	$ 21,459	$ 55,028	$ 53,463	$ 24,797	$ 16,027	289,995	149,315	127,043
Assets
Cash and cash equivalents		720,861				593,000				720,861	593,000	560,341	$ 358,768
Receivables		244,213				231,665				244,213	231,665
Investments in unconsolidated joint ventures		64,794				64,016				64,794	64,016
Other assets		102,498				91,145				102,498	91,145
Total assets		5,041,515				5,131,624				5,041,515	5,131,624
Liabilities
Accounts payable and accrued expenses		789,393				766,327				789,393	766,327
Total liabilities		966				2,003				966	2,003
Financial services [Member]
Expenses
Operating income (loss)										8,834	7,886	7,332
Equity in income (loss) of unconsolidated joint ventures										4,234	(3,420)	4,292
Pretax income (loss)										13,068	4,466	11,624
Assets
Cash and cash equivalents		231				914				231	914	$ 1,299
Receivables		1,724				1,764				1,724	1,764
Investments in unconsolidated joint ventures	[1]	10,340				7,771				10,340	7,771
Other assets		62				50				62	50
Total assets		12,357				10,499				12,357	10,499
Liabilities
Accounts payable and accrued expenses		$ 966				$ 2,003				966	$ 2,003
KBHS, LLC [Member]
Segment Reporting Information [Line Items]
Partners' Capital Account, Contributions										5,300
Home Community Mortgage LLC [Member]
Liabilities
Partners' Capital Account, Distributions										$ 5,000
[1]	In 2017, we made a $5.3 million capital contribution to KBHS and received a $5.0 million distribution from HCM.

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details)	Jan. 29, 2013shares	Nov. 30, 2017shares	Nov. 30, 2016shares	Nov. 30, 2015shares	Nov. 30, 2013
Debt Instrument [Line Items]
Conversion rate		0.0365297			0.0365297
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		1,600,000	7,300,000	8,000,000
Convertible senior notes due February 1, 2019 at 1.375%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.375%	1.375%
Convertible Notes Payable [Member] | Convertible senior notes due February 1, 2019 at 1.375%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		1.375%	1.375%
Debt Conversion, Converted Instrument, Shares Issued	36.5297

Earnings Per Share (Basic and D

Earnings Per Share (Basic and Diluted Loss Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Numerator:
Net income	$ 84,346	$ 50,208	$ 31,782	$ 14,259	$ 37,528	$ 39,363	$ 15,597	$ 13,127	$ 180,595	$ 105,615	$ 84,643
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic									(56)	(45)	(33)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic									(1,121)	(508)	(273)
Numerator for basic earnings per share									179,418	105,062	84,337
Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes									2,654	2,667	2,667
Undistributed Earnings (Loss) Allocated to Participating Securities, Diluted									1,121	508	273
Less: Undistributed earnings reallocated to nonvested restricted stock									(979)	(453)	(244)
Numerator for diluted earnings per share									$ 182,214	$ 107,784	$ 87,033
Denominator:
Weighted average shares outstanding — basic									85,842	85,706	92,054
Share-based payments, shares									4,072	2,170	2,401
Convertible senior notes, shares									8,402	8,402	8,402
Weighted average shares outstanding — diluted									98,316	96,278	102,857
Basic earnings (loss) per share, in dollars per share	$ 0.97	$ 0.58	$ 0.37	$ 0.17	$ 0.44	$ 0.46	$ 0.18	$ 0.15	$ 2.09	$ 1.23	$ 0.92
Diluted earnings (loss) per share, in dollars per share	$ 0.84	$ 0.51	$ 0.33	$ 0.15	$ 0.40	$ 0.42	$ 0.17	$ 0.14	$ 1.85	$ 1.12	$ 0.85

Receivables (Details)

Receivables (Details) - USD ($) $ in Thousands		Nov. 30, 2017	Nov. 30, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Utility and Municipality Receivable	[1]	$ 113,744	$ 102,780
Deposits Assets		13,829	13,665
Other Receivables		33,797	28,745
Accounts Receivable, Gross		257,206	244,275
Allowances for doubtful accounts		(12,993)	(12,610)
Receivables		244,213	231,665
Self Insurance and Other Legal Claims [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reclassification of warranty recoveries to receivables		91,763	84,476
Warranty and Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reclassification of warranty recoveries to receivables		$ 4,073	$ 14,609
[1]	These receivables typically relate to infrastructure improvements we make with respect to our communities. We are generally reimbursed for the cost of such improvements when they are accepted by the utility company, improvement district or municipality, or after certain events occur, depending on the terms of the applicable agreements. These events may include, but are not limited to, the connection of utilities or the issuance of bonds by the respective improvement districts or municipalities.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2017		Nov. 30, 2016		Nov. 30, 2015
Interest Costs
Capitalized interest at beginning of year		$ 306,723	[1]	$ 288,442	[1]	$ 266,668
Interest incurred	[2]	177,171		185,466		186,885
Interest Expense	[2]	(6,307)		(5,900)		(21,856)
Interest amortized to construction and land costs	[3]	(215,396)		(161,285)		(143,255)
Capitalized interest at end of year	[1]	262,191		306,723		288,442
Loss on early extinguishment of debt		(5,685)		0		0
Inventories
Homes under construction		1,236,848		1,245,938
Land under development		1,651,339		1,727,657
Land held for future development or sale	[4]	375,199		429,633
Total		3,263,386		3,403,228
Land held for future development	[4]	$ 21,800		63,400
Real Estate Held for Sale Duration		1 year
Land [Member]
Interest Costs
Interest amortized to construction and land costs		$ (4,900)		$ (700)		$ (16,400)
[1]	Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.
[2]	Interest incurred and interest expensed for the year ended November 30, 2017 included a charge of $5.7 million for the early extinguishment of debt.
[3]	Interest amortized to construction and land costs for the years ended November 30, 2017, 2016 and 2015 included $4.9 million, $.7 million and $16.4 million, respectively, related to land sales during the periods.
[4]	Land held for sale totaled $21.8 million at November 30, 2017 and $63.4 million at November 30, 2016.

Inventory Impairments and Lan60

Inventory Impairments and Land Option Contract Abandonments (Details)		12 Months Ended
		Nov. 30, 2017USD ($)propertylotcommunitydelivery	Nov. 30, 2016USD ($)propertylotcommunitydelivery	Nov. 30, 2015USD ($)propertylotdelivery
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate		$ 20,605,000	$ 49,580,000	$ 8,030,000
Acquisition Costs Related To Land Option Contracts And Other Similar Contracts		26,800,000	56,000,000
Carrying Value of Communities of Land Parcels Evaluated for Impairment		$ 456,900,000	$ 423,100,000	$ 286,300,000
Number of land parcels or communities associated with non cash inventory impairment charges | property		10	30	4
Number of land parcels or communities evaluated for recoverability | property		51	68	35
Aggregate carrying value of inventory impacted by pretax, noncash inventory impairment charges		$ 177,800,000	$ 215,300,000
Number of communities and various other land parcels impacted by pretax, noncash inventory impairment charges | community		24	28
Number of Lots on which abandonment charges are recognized | lot		710	744	1,166
Remaining useful life in addition to specified useful lives		1 year
Specified period of remaining useful lives		10 years
Expected realization period of inventory maximum		5 years
Estimate of Fair Value Measurement [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure		$ 38,400,000	$ 39,500,000	$ 12,000,000
Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Estimate Input at Average Selling Price	[1]	$ 207,100	$ 216,200	$ 178,100
Fair Value Estimate Input at Sales for Period | delivery	[1]	1	1	2
Fair Value Inputs, Discount Rate	[1]	17.00%	17.00%	17.00%
Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Estimate Input at Average Selling Price	[1]	$ 1,576,500	$ 977,400	$ 509,400
Fair Value Estimate Input at Sales for Period | delivery	[1]	4	4	4
Fair Value Inputs, Discount Rate	[1]	18.00%	20.00%	20.00%
Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss on Contract Termination		$ 4,627,000	$ 3,232,000	$ 1,561,000
West Coast [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate		$ 13,482,000	8,209,000	645,000
Number of land parcels or communities associated with non cash inventory impairment charges | property		1
West Coast [Member] | Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss on Contract Termination		$ 3,225,000	769,000	352,000
Southeast [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate		3,678,000	27,547,000	4,132,000
Southeast [Member] | Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss on Contract Termination		$ 556,000	1,750,000	$ 984,000
Land Held for Future Development [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate			12,900,000
Number of land parcels or communities associated with non cash inventory impairment charges | property		9
Metro Washington, D.C. [Member] | Southeast [Member] | Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss on Contract Termination			1,400,000
Metro Washington, D.C. [Member] | Land [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate			$ 36,700,000
[1]	The ranges of inputs used in each period primarily reflect differences between the housing markets where each impacted community is located, rather than fluctuations in prevailing market conditions.

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Thousands	Nov. 30, 2017USD ($)joint_venture	Nov. 30, 2016USD ($)joint_venture
Variable Interest Entity [Line Items]
Number of Investments in Unconsolidated Joint Ventures | joint_venture	7	7
Cash Deposits	$ 64,702	$ 42,829
Aggregate Purchase Price	1,094,087	1,073,596
Acquisition Costs Related To Land Option Contracts And Other Similar Contracts	26,800	56,000
Increase in inventories and accrued expenses and other liabilities	$ 5,700	$ 50,500
Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Number of Investments in Unconsolidated Joint Ventures | joint_venture	1	1
Cash Deposits	$ 43,171	$ 24,910
Aggregate Purchase Price	653,858	641,642
Other land option contracts and other similar contracts [Member]
Variable Interest Entity [Line Items]
Cash Deposits	21,531	17,919
Aggregate Purchase Price	$ 440,229	$ 431,954

Investments in Unconsolidated62

Investments in Unconsolidated Joint Ventures (Narrative) (Details) $ in Thousands	Nov. 30, 2017USD ($)joint_venture	Nov. 30, 2016USD ($)joint_venture
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures	$ 64,794	$ 64,016
Number of investments in unconsolidated joint ventures | joint_venture	7	7
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 303,100
Investments in Unconsolidated Joint Ventures with Debt
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures | joint_venture	2	1
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 19,800
West Coast [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures	$ 53,506	$ 51,612
West Coast [Member] | Investments in Unconsolidated Joint Ventures with Debt
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures | joint_venture		1

Investments in Unconsolidated63

Investments in Unconsolidated Joint Ventures (Condensed Information of Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Statements of Operations of Unconsolidated Joint Ventures
Revenues		$ 47,431	$ 46,389	$ 15,322
Equity Method Investment, Summarized Financial Information, Cost of Sales		(47,459)	(50,566)	(23,123)
Other expense, net		(4,749)	(4,465)	(3,360)
Income (loss)		(4,777)	(8,642)	$ (11,161)
Assets
Cash		21,193	31,928
Receivable		688	882
Inventories		145,519	165,385
Other assets		1,398	629
Total assets		168,798	198,824
Liabilities and equity
Accounts payable and other liabilities		25,426	19,880
Equity Method Investments Summarized Financial Information Debt	[1]	20,040	44,381
Equity		123,332	134,563
Total liabilities and equity		$ 168,798	$ 198,824
[1]	As of November 30, 2017 and 2016, two and one of our unconsolidated joint ventures, respectively, had separate construction loan agreements with different third-party lenders to finance their respective land development activities. The outstanding debt under these agreements is secured by the corresponding underlying property and related project assets and is non-recourse to us. Of this outstanding secured debt at November 30, 2017, $19.8 million is scheduled to mature in August 2018 and the remainder is scheduled to mature in February 2020. None of our other unconsolidated joint ventures had outstanding debt at November 30, 2017 or 2016.

Investments in Unconsolidated64

Investments in Unconsolidated Joint Ventures (Additional Information for Investments in Unconsolidated Joint Ventures) (Details) $ in Thousands	12 Months Ended
	Nov. 30, 2017USD ($)lotjoint_venture	Nov. 30, 2016USD ($)lotjoint_venture	Nov. 30, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Long-Term Purchase Commitment, Lots | lot	79
Number of investments in unconsolidated joint ventures | joint_venture	7	7
Long-term Purchase Commitment, Period	3 years
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | $	$ 64,794	$ 64,016
Number of Unconsolidated Joint Venture Lots Controlled Under Land Option Contracts | lot	377	471
Long-term Purchase Commitment, Amount | $	$ 35,200
Inspirada Builders LLC [Member]
Schedule of Equity Method Investments [Line Items]
Increase in inventories due to distributions of land and land development from an unconsolidated joint venture | $	$ 6,650	$ 4,277	$ 12,705
Investments in Unconsolidated Joint Ventures with Debt
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures | joint_venture	2	1
Investments in Unconsolidated Joint Ventures with Purchase Commitments [Member]
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures | joint_venture	1

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Nov. 30, 2017	Nov. 30, 2016	Jan. 29, 2013
Other Assets [Line Items]
Cash surrender value of insurance contracts	$ 75,236	$ 70,829
Debt Issuance Costs, Line of Credit Arrangements, Net	2,381	1,182
Property and equipment, net	19,521	14,240
Prepaid expenses	5,360	4,894
Total	$ 102,498	$ 91,145
Convertible senior notes due February 1, 2019 at 1.375%
Other Assets [Line Items]
Senior notes, rate	1.375%		1.375%

Accrued Expenses and Other Li66

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands		Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Schedule of Equity Method Investments [Line Items]
Self-Insurance and other litigation liabilities		$ 222,808	$ 170,988
Employee compensation and related benefits		143,992	130,352
Warranty liability		69,798	56,682	$ 49,085	$ 45,196
Customer Deposits, Current		16,863	18,175
Accrued interest payable		65,343	67,411
Inventory-related liabilities	[1]	30,108	82,682
Real estate and business taxes		16,874	14,370
Other		10,144	10,336
Total		$ 575,930	$ 550,996
[1]	Represents liabilities for financing arrangements discussed in Note 8 – Variable Interest Entities, as well as liabilities for fixed or determinable amounts associated with TIFE assessments. As homes are delivered, the obligation to pay the remaining TIFE assessments associated with each underlying lot is transferred to the homebuyer. As such, these assessment obligations will be paid by us only to the extent we do not deliver homes on applicable lots before the related TIFE obligations mature.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2017	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Credits and Adjustments	$ 4,900			$ 15,200	$ 5,600
Component of income tax benefit (expense) in the consolidated statement of operations
Current federal income tax benefit	(2,800)			(1,900)	(1,400)
Current state income tax benefit (expense)	(3,000)			(1,000)	(2,000)
Current income tax benefit	(5,800)			(2,900)	(3,400)
Deferred federal income tax benefit	(86,300)			(28,700)	(35,900)
Deferred state income tax benefit	(17,300)			(12,100)	(3,100)
Deferred income tax benefit	(103,600)			(40,800)	(39,000)
Federal income tax benefit	(89,100)			(30,600)	(37,300)
State income tax benefit	(20,300)			(13,100)	(5,100)
Income tax benefit	$ (109,400)			$ (43,700)	$ (42,400)
Effective Income Tax Rate Reconciliation, Percent		37.70%	35.00%	29.30%	33.40%

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($) $ in Thousands	Nov. 30, 2017	Nov. 30, 2016
Deferred tax liabilities
Capitalized expenses	$ 98,147	$ 116,551
State taxes	59,174	65,766
Other	313	286
Total	157,634	182,603
Deferred tax assets:
NOLs from 2006 through 2017	236,273	350,329
Tax credits	208,841	197,766
Inventory impairment and land option contract abandonment charges	139,737	176,555
Employee benefits	100,200	102,321
Warranty, legal and other accruals	60,238	51,448
Capitalized expenses	39,195	36,950
Partnerships and joint ventures	14,784	16,293
Depreciation and amortization	7,333	8,530
Other	8,270	6,196
Total	814,871	946,388
Valuation allowance	(23,600)	(24,800)
Total	791,271	921,588
Deferred Tax Assets, Net	$ 633,637	$ 738,985

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2017	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Income tax benefit computed at the statutory U.S. federal income tax rate and income tax benefit (expense) provided in the consolidated statements of operations
Income tax benefit computed at statutory rate	$ (101,499)			$ (52,260)	$ (44,462)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		(35.00%)		(35.00%)	(35.00%)
Increase (decrease) resulting from
Valuation allowance for deferred tax assets	1,200			$ 12,982	$ 3,356
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent		0.40%		8.70%	2.60%
Tax credits	6,227			$ 4,447	$ 6,926
Effective Income Tax Rate Reconciliation, Tax Credit, Percent		2.20%		3.00%	5.50%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation and Amortization, Amount	362			$ 1,842	$ 3,183
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation, Percent		0.10%		1.20%	2.50%
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Amount	74			$ (86)	$ 1,617
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Percent		0.00%		(0.10%)	1.30%
NOLs reconciliation	(2,210)			$ (3,691)	$ (3,379)
Effective Income Tax Reconciliation Change Net Operating Loss, Percentage		(0.80%)		(2.50%)	(2.70%)
State taxes, net of federal income tax benefit	(14,450)			$ (7,511)	$ (5,155)
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent		(4.90%)		(5.00%)	(4.10%)
Other, net	896			$ 577	$ (4,486)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent		0.30%		0.40%	(3.50%)
Income tax benefit	(109,400)			$ (43,700)	$ (42,400)
Effective Income Tax Rate Reconciliation, Percent		(37.70%)	(35.00%)	(29.30%)	(33.40%)
Reconciliation of the beginning and ending balances of the gross unrecognized benefits
Balance at beginning of year	56			$ 56	$ 206
Reductions due to lapse of statute of limitations	0			0	(150)
Balance at the end of year	$ 56			$ 56	$ 56

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2017	Nov. 30, 2017	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Income Tax Contingency [Line Items]
Income Tax Credits and Adjustments		$ 4,900,000			$ 15,200,000	$ 5,600,000
Effective Income Tax Rate Reconciliation, Percent			(37.70%)	(35.00%)	(29.30%)	(33.40%)
Income Taxes (Textual) [Abstract]
Income tax expense		(109,400,000)			$ (43,700,000)	$ (42,400,000)
Deferred income taxes		105,348,000			43,211,000	43,036,000
Deferred Tax Assets, Net	$ (657,200,000)	(657,200,000)	$ (657,200,000)	$ (657,200,000)	(763,800,000)
Net Increase in valuation allowance recorded against net deferred tax assets		1,200,000			13,000,000	3,400,000
Period for Carry forward of tax benefits related to deferred tax assets	20 years
Deferred Tax Assets, Operating Loss Carryforwards, State and Local, Expired					500,000
Deferred Tax Assets, Tax Credit Carryforwards	$ 112,400,000	112,400,000	112,400,000	112,400,000
Accumulated Deferred Investment Tax Credit	3,200,000	3,200,000	3,200,000	3,200,000
Valuation allowance	(23,600,000)	(23,600,000)	(23,600,000)	(23,600,000)	(24,800,000)
Unrecognized tax benefits that if recognized would affect the Company's annual effective tax rate	100,000	100,000	100,000	100,000	100,000	100,000
Total accrued interest and penalties related to unrecognized income tax benefits	0	0	0	0	0
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	0	0	0	0	0
Unrecognized Tax Benefits	56,000	56,000	56,000	56,000	56,000	56,000	$ 206,000
Income taxes refunded		202,000			550,000	$ 11,000
Valuation allowance against net deferred tax assets	23,600,000	23,600,000	23,600,000	23,600,000	24,800,000
Total deferred tax assets	791,271,000	791,271,000	791,271,000	791,271,000	$ 921,588,000
Gross Unrecognized Tax Benefits Including Interest and Penalties	$ 100,000	100,000	100,000	100,000
Maximum
Income Taxes (Textual) [Abstract]
Tax Credit Carryforward, Expiration Date	Dec. 31, 2037
Anticipated Decrease in Unrecognized Tax Benefit During Twelve Months Following Current Reporting Date	$ 100,000	100,000	100,000	100,000
Minimum
Income Taxes (Textual) [Abstract]
Tax Credit Carryforward, Expiration Date	Dec. 31, 2026
Anticipated Decrease in Unrecognized Tax Benefit During Twelve Months Following Current Reporting Date	$ 0	0	0	0
Tax Credit Carryforward, Expiring in 2038 [Domain]
Income Tax Contingency [Line Items]
Future Income From Continuing Operations Before Income Taxes		1,600,000,000
Investment Tax Credit Carryforward, Expiration in 2026 [Member]
Income Taxes (Textual) [Abstract]
Accumulated Deferred Investment Tax Credit	2,400,000	2,400,000	2,400,000	2,400,000
Investment Tax Credit Carryforward, Expiration in 2027 [Member]
Income Taxes (Textual) [Abstract]
Accumulated Deferred Investment Tax Credit	800,000	800,000	800,000	800,000
State and Local Jurisdiction [Member]
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards	$ 130,400,000	130,400,000	130,400,000	130,400,000
State and Local Jurisdiction [Member] | Maximum
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2037
State and Local Jurisdiction [Member] | Minimum
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2018
Internal Revenue Service (IRS) [Member]
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards	$ 105,800,000	$ 105,800,000	$ 105,800,000	$ 105,800,000
Internal Revenue Service (IRS) [Member] | Maximum
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2033
Internal Revenue Service (IRS) [Member] | Minimum
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2031

Notes Payable (Schedule of Note

Notes Payable (Schedule of Notes Payable) (Details) - USD ($)

Nov. 30, 2017

Nov. 30, 2017

Nov. 30, 2017

Nov. 30, 2016

Feb. 17, 2015

Mar. 25, 2014

Mar. 25, 2014

Mar. 25, 2014

Oct. 29, 2013

Jan. 29, 2013

Jan. 29, 2013

Jan. 29, 2013

Jul. 31, 2012

Feb. 07, 2012

Feb. 07, 2012

Feb. 07, 2012

Jul. 30, 2009

Apr. 03, 2006

Apr. 03, 2006

Apr. 03, 2006

Jun. 02, 2005

Debt Instrument [Line Items]

Notes payable

$ 2,324,845,000

$ 2,640,149,000

Convertible senior notes due February 1, 2019 at 1.375%

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

1.375%

1.375%

Mortgages and land contracts due to land sellers and other loans (at interest rates of 7% at November 30, 2013 and 6% to 7% at November 30, 2012)

Debt Instrument [Line Items]

Notes payable

10,203,000

$ 66,927,000

Mortgages and land contracts due to land sellers and other loans (at interest rates of 7% at November 30, 2013 and 6% to 7% at November 30, 2012) | Minimum

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

100.00%

100.00%

Mortgages and land contracts due to land sellers and other loans (at interest rates of 7% at November 30, 2013 and 6% to 7% at November 30, 2012) | Maximum

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

300.00%

700.00%

Senior Notes [Member] | Senior notes due June 15, 2015 at 6 1/4%

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

Debt Instrument, Interest Rate, Effective Percentage

6.30%

Debt Instrument, Repurchased Face Amount

$ 199,906,000

Senior Notes [Member] | Senior notes due September 15, 2017 at 9.10%

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

9.10%

9.10%

Debt Instrument, Interest Rate, Effective Percentage

9.60%

Notes payable

0

$ 263,932,000

Debt Instrument, Face Amount

$ 265,000,000

Senior Notes [Member] | Senior notes due June 15, 2018 at 7 1/4%

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

7.25%

7.25%

Debt Instrument, Interest Rate, Effective Percentage

7.30%

7.3298%

Notes payable

299,867,000

$ 299,647,000

Debt Instrument, Face Amount

[1]

$ 300,000,000

Senior Notes [Member] | Senior notes due May 15, 2019 at 4.75%

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.75%

4.75%

Debt Instrument, Interest Rate, Effective Percentage

5.00%

5.0367%

Notes payable

398,397,000

$ 397,364,000

Debt Instrument, Face Amount

[2]

$ 400,000,000

Senior Notes [Member] | Senior notes due March 15, 2020 at 8.00%

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

8.00%

8.00%

Debt Instrument, Interest Rate, Effective Percentage

8.50%

8.5213%

Notes payable

346,238,000

$ 344,811,000

Debt Instrument, Face Amount

[1]

$ 350,000,000

Senior Notes [Member] | Senior notes due December 15, 2021 at 7.00%

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

7.00%

7.00%

Debt Instrument, Interest Rate, Effective Percentage

7.2166%

7.70%

Notes payable

446,608,000

$ 445,911,000

Debt Instrument, Face Amount

[2]

$ 450,000,000

Senior Notes [Member] | Senior notes due September 15, 2022 at 7.50%

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

7.50%

7.50%

Debt Instrument, Interest Rate, Effective Percentage

7.20%

7.699%

Notes payable

347,234,000

$ 346,774,000

Debt Instrument, Face Amount

[1]

$ 350,000,000

Senior Notes [Member] | Senior Notes Due Two Thousand Twenty Three At Seven Point Six Two Five Percent [Domain]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

7.625%

7.625%

Debt Instrument, Interest Rate, Effective Percentage

7.8314%

Notes payable

247,726,000

$ 247,404,000

Debt Instrument, Face Amount

[2]

$ 250,000,000

Convertible Notes Payable [Member] | Convertible senior notes due February 1, 2019 at 1.375%

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

1.375%

1.375%

Debt Instrument, Interest Rate, Effective Percentage

1.90%

1.912%

Notes payable

$ 228,572,000

$ 227,379,000

Debt Instrument, Face Amount

[3]

$ 230,000,000

[1]

(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 the applicable redemption date.

[2]

(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, 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.

[3]

(c)We may not redeem these notes prior to November 6, 2018. On or after November 6, 2018, and 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 (Narrative) (Deta

Notes Payable (Narrative) (Details)

Sep. 15, 2017USD ($)

Jan. 13, 2017USD ($)

Jan. 29, 2013USD ($)$ / sharesRateshares

Aug. 31, 2017

Feb. 28, 2017USD ($)

Nov. 30, 2017USD ($)shares

Nov. 30, 2016USD ($)shares

Nov. 30, 2015USD ($)shares

Nov. 30, 2013

Nov. 30, 2017

Nov. 30, 2017shares

Nov. 30, 2017Rate

Jul. 27, 2017USD ($)

Jul. 26, 2017USD ($)

Feb. 17, 2015USD ($)Rate

Mar. 25, 2014USD ($)Rate

Oct. 29, 2013USD ($)Rate

Jul. 31, 2012USD ($)Rate

Feb. 07, 2012USD ($)Rate

Jul. 30, 2009USD ($)Rate

Apr. 03, 2006USD ($)Rate

Debt Instrument [Line Items]

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

$ 15,400,000

$ 21,800,000

Conversion rate

0.0365297

0.0365297

Line of Credit Facility, Current Borrowing Capacity

$ 500,000,000

$ 275,000,000

Incremental Common Shares Attributable to Conversion of Debt Securities | shares

8,402,000

8,402,000

8,402,000

Letters of Credit Outstanding, Amount

$ 37,600,000

$ 31,000,000

Primarily inventories carrying value

27,600,000

Repayments of Long-term Debt

270,326,000

0

$ 199,906,000

Proceeds from Issuance of Senior Long-term Debt

0

$ 0

250,000,000

Common Stock, Capital Shares Reserved for Future Issuance | shares

12,602,735

Long-term Debt, Fiscal Year Maturity [Abstract]

Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2013

303,100,000

Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2014

637,100,000

Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2015

350,000,000

Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2016

0

Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2017

800,000,000

Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due thereafter

250,000,000

Convertible senior notes due February 1, 2019 at 1.375%

Debt Instrument [Line Items]

Senior notes, rate

1.375%

1.375%

Convertible Notes Payable [Member] | Convertible senior notes due February 1, 2019 at 1.375%

Debt Instrument [Line Items]

Conversion Price Premium | Rate

100.00%

Incremental Common Shares Attributable to Conversion of Debt Securities | shares

8,401,831

Percentage of Principal Amount for Purchase of Notes if Fundamental Change

100.00%

Senior notes

[1]

$ 230,000,000

Senior notes, rate

1.375%

1.375%

Debt Conversion, Converted Instrument, Shares Issued | shares

36.5297

Debt Instrument, Convertible, Conversion Price | $ / shares

$ 27.37

Senior Notes [Member]

Debt Instrument [Line Items]

Percentage of principal amount for purchase of notes if change in control

101.00%

Senior Notes [Member] | Senior Notes Due Two Thousand Twenty Three At Seven Point Six Two Five Percent [Domain]

Debt Instrument [Line Items]

Conversion Price Premium | Rate

100.00%

Senior notes

[2]

$ 250,000,000

Proceeds from Issuance of Senior Long-term Debt

245,400,000

Senior notes, rate

7.625%

7.625%

Senior Notes [Member] | Senior notes due May 15, 2019 at 4.75%

Debt Instrument [Line Items]

Conversion Price Premium | Rate

100.00%

Senior notes

[2]

$ 400,000,000

Senior notes, rate

4.75%

4.75%

Senior Notes [Member] | Senior notes due June 15, 2015 at 6 1/4%

Debt Instrument [Line Items]

Repayments of Long-term Debt

$ 199,900,000

Senior notes, rate

Senior Notes [Member] | Senior notes due September 15, 2022 at 7.50%

Debt Instrument [Line Items]

Conversion Price Premium | Rate

100.00%

Senior notes

[3]

$ 350,000,000

Senior notes, rate

7.50%

7.50%

Senior Notes [Member] | Senior notes due December 15, 2021 at 7.00%

Debt Instrument [Line Items]

Conversion Price Premium | Rate

100.00%

Senior notes

[2]

$ 450,000,000

Senior notes, rate

7.00%

7.00%

Senior Notes [Member] | Senior notes due September 15, 2017 at 9.10%

Debt Instrument [Line Items]

Conversion Price Premium | Rate

100.00%

Senior notes

$ 265,000,000

Repayments of Long-term Debt

$ 165,000,000

Senior notes, rate

9.10%

9.10%

Extinguishment of Debt, Amount

$ 100,000,000

$ 105,300,000

Debt Instrument Redemption Aggregate Price

$ 5,700,000

Senior Notes [Member] | Senior notes due June 15, 2018 at 7 1/4%

Debt Instrument [Line Items]

Conversion Price Premium | Rate

100.00%

Senior notes

[3]

$ 300,000,000

Senior notes, rate

7.25%

7.25%

Senior Notes [Member] | Senior notes due March 15, 2020 at 8.00%

Debt Instrument [Line Items]

Conversion Price Premium | Rate

100.00%

Senior notes

[3]

$ 350,000,000

Senior notes, rate

8.00%

8.00%

Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Line of Credit Facility, Expiration Date

Jul. 27, 2021

Line of Credit Facility, Maximum Borrowing Capacity

600,000,000

Line of Credit Facility, Amount Outstanding

0

Line of Credit Facility, Remaining Borrowing Capacity

462,400,000

Letter of Credit [Member]

Debt Instrument [Line Items]

Line of Credit Facility, Current Borrowing Capacity

250,000,000

Line of Credit Facility, Amount Outstanding

37,645,000

Line of Credit Facility, Remaining Borrowing Capacity

212,400,000

LOC Facilities [Member]

Debt Instrument [Line Items]

Letters of Credit Outstanding, Amount

$ 0

$ 0

Minimum | Mortgages and Land Contracts Due to Land Sellers and Other Loans [Member]

Debt Instrument [Line Items]

Senior notes, rate

100.00%

100.00%

Minimum | Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Line of Credit Facility, Unused Capacity, Commitment Fee Percentage

0.30%

Maximum | Mortgages and Land Contracts Due to Land Sellers and Other Loans [Member]

Debt Instrument [Line Items]

Senior notes, rate

700.00%

300.00%

Maximum | Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Line of Credit Facility, Unused Capacity, Commitment Fee Percentage

0.45%

[1]

(c)We may not redeem these notes prior to November 6, 2018. On or after November 6, 2018, and 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.

[2]

(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, 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.

[3]

(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 the applicable redemption date.

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2017	Nov. 30, 2016
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Post Impairment Fair Value	[1]	$ 0	$ 3,657
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Post Impairment Fair Value	[1]	$ 38,357	$ 37,329
[1]	(a)Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable period, as of the date that the fair value measurements were made. The carrying value for these real estate assets may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date.

Fair Value Disclosures (Detai74

Fair Value Disclosures (Details 1) - USD ($) $ in Thousands		Nov. 30, 2017		Nov. 30, 2016		Jan. 29, 2013
Convertible senior notes due February 1, 2019 at 1.375%
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes, rate		1.375%				1.375%
Carrying Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	[1]	$ 2,086,070		$ 2,345,843
Convertible Debt, Fair Value Disclosures		228,572	[2]	227,379	[1]
Estimate of Fair Value Measurement [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value		2,292,250		2,494,844
Convertible Debt, Fair Value Disclosures		$ 278,300		$ 223,675
[1]	The carrying values for the senior notes and convertible senior notes, as presented, include unamortized debt issuance costs. Debt issuance costs are not factored into the estimated fair values of these notes.
[2]	(a)Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable period, as of the date that the fair value measurements were made. The carrying value for these real estate assets may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date.

Fair Value Disclosures (Detai75

Fair Value Disclosures (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of Real Estate	$ 20,605	$ 49,580	$ 8,030
Inventory Impacted by Pretax Noncash Inventory Impairment Charges, Carrying Value	59,000	89,100
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 38,400	$ 39,500	$ 12,000

Commitments and Contingencies76

Commitments and Contingencies (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Changes in the Company's warranty liability
Balance at beginning of year		$ 56,682	$ 49,085	$ 45,196
Warranties issued		38,452	30,135	23,018
Payments	[1]	(25,336)	(23,190)	(26,367)
Adjustments	[2]	0	652	7,238
Balance at end of year		69,798	56,682	49,085
Self Insurance Reserve, Balance at beginning of year		158,584	173,011	205,228
Expenses Associated with Self Insurance	[3]	20,371	24,808	18,590
Payments, Net of Recoveries for Self Insurance		(9,720)	(28,395)	(21,201)
Self Insurance Reserve, Balance at end of year		177,695	158,584	173,011
Self Insurance [Member]
Loss Contingencies [Line Items]
Increase (Decrease) in Insurance Liabilities	[4]	$ 8,460	$ (10,840)	$ (29,606)
[1]	Payments for 2016 and 2015 included $2.3 million and $8.4 million, respectively, to repair homes affected by water intrusion-related issues in certain of our communities in central and southwest Florida.
[2]	Adjustments for 2016 and 2015 included the reclassification of certain estimated minimum probable recoveries to receivables in connection with the above-noted water intrusion-related issues. The adjustments for each year had no impact on our consolidated statements of operations.
[3]	These expenses are included in selling, general and administrative expenses and are largely offset by contributions from independent subcontractors participating in the wrap-up policy
[4]	The amount for each period reflects changes in our self-insurance liability that were offset by changes in the receivable for estimated probable insurance and other recoveries to present our self-insurance liability on a gross basis. The amount for 2017 also includes a $21.7 million change in estimate to increase our self-insurance liability to reflect claim frequency and severity trends, which indicated that probable future payments for claims relating to homes delivered in certain prior years were likely to exceed the previously estimated liabilities remaining for those claims. Therefore, we recorded an adjustment in the 2017 third quarter to increase our self-insurance liability, based on an actuarially determined estimate, to an amount expected to have a higher probability of being adequate to cover future payments associated with unresolved claims, including claims incurred but not yet reported. This adjustment is included in selling, general and administrative expenses.

Commitments and Contingencies77

Commitments and Contingencies (Details Textual)		12 Months Ended
		Nov. 30, 2017USD ($)propertyHome	Nov. 30, 2016USD ($)property	Nov. 30, 2015USD ($)property	Nov. 30, 2014USD ($)
Loss Contingencies [Line Items]
Impairment of Real Estate		$ 20,605,000	$ 49,580,000	$ 8,030,000
Operating Leases, Rent Expense, Net		$ 8,100,000	7,500,000	8,500,000
Minimum warranty on electrical and other building systems		2 years
Maximum Warranty on Electrical Heating Cooling Plumbing and Other Building Systems		5 years
Standard Product Warranty Accrual, Payments	[1]	$ 25,336,000	$ 23,190,000	$ 26,367,000
Number of Land Parcels or Communities Associated with Non Cash Inventory Impairment Charges | property		10	30	4
Increase (Decrease) in Self Insurance Reserve		$ 21,700,000
Insurance Recoveries		23,500,000
Loss Contingency, Receivable, Estimated Recovery from Third Party		$ 11,600,000
Commitments and Contingencies (Textual) [Abstract]
Structural warranty provided by the company		10 years
Warranty for other components of a home		1 year
Company's warranty liability		$ 69,798,000	$ 56,682,000	$ 49,085,000	$ 45,196,000
Company's estimated liabilities for construction defect		177,695,000	158,584,000	173,011,000	$ 205,228,000
Expenses associated with self-insurance	[2]	20,371,000	24,808,000	18,590,000
Product Warranty Accrual, Preexisting, Increase (Decrease)	[3]	0	(652,000)	(7,238,000)
Performance bonds		606,700,000	535,700,000
Letters of Credit Outstanding, Amount		37,600,000	31,000,000
Non refundable deposits related to land option and other similar contracts		64,702,000	42,829,000
Aggregate Purchase Price Associated with Land Option and Other Similar Contracts		$ 1,094,087,000	1,073,596,000
Damages from Product Defects [Member]
Loss Contingencies [Line Items]
Minimum Number of Affected Homes for Construction Defect Claims | Home		2
Water Intrusion [Member]
Loss Contingencies [Line Items]
Standard Product Warranty Accrual, Payments			2,300,000	8,400,000
Reclassification of warranty recoveries to receivables		$ 0	2,151,000	$ 7,238,000
Self Insurance [Member]
Loss Contingencies [Line Items]
Reclassification of warranty recoveries to receivables		71,300,000	84,500,000
Warranty and Other [Member]
Loss Contingencies [Line Items]
Reclassification of warranty recoveries to receivables		4,100,000	14,600,000
Northern California Townhome Community [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value		100,000,000
LOC Facilities [Member]
Commitments and Contingencies (Textual) [Abstract]
Letters of Credit Outstanding, Amount		$ 0	$ 0
Line of Credit Facility, Expiration Period		1 year
[1]	Payments for 2016 and 2015 included $2.3 million and $8.4 million, respectively, to repair homes affected by water intrusion-related issues in certain of our communities in central and southwest Florida.
[2]	These expenses are included in selling, general and administrative expenses and are largely offset by contributions from independent subcontractors participating in the wrap-up policy
[3]	Adjustments for 2016 and 2015 included the reclassification of certain estimated minimum probable recoveries to receivables in connection with the above-noted water intrusion-related issues. The adjustments for each year had no impact on our consolidated statements of operations.

Commitments and Contingencies78

Commitments and Contingencies (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) - USD ($) $ in Millions	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Operating Leased Assets [Line Items]
2,018	$ 8.3
2,019	7.6
2,020	4.7
2,021	2.5
2,022	1.8
Thereafter	5.8
Rental expense on operating leases	$ 8.1	$ 7.5	$ 8.5
Minimum
Operating Leased Assets [Line Items]
Noncancelable operating leases, term	3 years
Maximum
Operating Leased Assets [Line Items]
Noncancelable operating leases, term	5 years
Noncancelable operating leases, renewal term	5 years

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2015	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015	Jan. 12, 2016	Jul. 17, 2014	Jan. 29, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized	290,000,000				290,000,000								290,000,000	290,000,000
Common Stock, Capital Shares Reserved for Future Issuance	12,602,735												12,602,735
Authorized repurchase of common stock									4,000,000						4,000,000
Common Stock, Shares, Issued	117,945,525				116,224,208								117,945,525	116,224,208
Stock repurchases													$ 6,673	$ 88,359	$ 567
Treasury stock, Value													$ 6,673	$ 88,359	567
Stockholder's Equity (Textual) [Abstract]
Number of shares that can be purchased by exercising each right	0.01												0.01
Purchase price for right holders	$ 85												$ 85
Exercisable options available													earlier of (a) 10 calendar days after a public announcement by us that a person or group has become an Acquiring Person (as defined under the 2009 Rights Agreement) and (b) 10 business days after the commencement of a tender or exchange offer by a person or group if upon consummation of the offer the person or group would beneficially own 4.9% or more of our outstanding common stock.
Calendar days after a public announcement during which rights to be exercised													10 days
Business days after the commencement of a tender or exchange offer during which rights to be exercised													10 days
Beneficially ownership in company's outstanding common stock to be held by person or group to exercise rights													4.90%
Price at which company may redeem all of the then outstanding rights	0.001												$ 0.001
Options under which right issued pursuant to the 2009 rights Agreement will expire													earliest of (a) the close of business on March 5, 2019, (b) the time at which the rights are redeemed, (c) the time at which the rights are exchanged, (d) the time at which our board of directors determines that a related provision in our Restated Certificate of Incorporation is no longer necessary, and (e) the close of business on the first day of a taxable year of ours to which our board of directors determines that no tax benefits may be carried forward. At our annual meeting of stockholders on April 2, 2009, our stockholders approved the 2009 Rights Agreement.
Cash dividend declared per share	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025
Director Plan SARs [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized																	680,000
Authorized repurchase of common stock																	680,000
Common Stock, Shares, Issued	0												0
January 2016 Stock Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized repurchase of common stock																10,000,000
Treasury Stock, Shares, Acquired														8,373,000
Stock repurchases														$ 85,900
Not Part of a Share Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury stock, Value													$ 6,700	$ 2,500	$ 600
Convertible senior notes due February 1, 2019 at 1.375%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.375%												1.375%					1.375%

Accumulated Other Comprehensi80

Accumulated Other Comprehensive Loss (Changes in the balances of each component of accumulated other comprehensive loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance		$ (16,057)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[1]	1,698	$ 1,635	$ 2,404
Income tax benefit (expense) related to items of other comprehensive income (loss)		578	(841)	(2,460)
Other comprehensive income (loss), net of tax		(867)	1,262	3,689
Ending Balance		(16,924)	(16,057)
Accumulated Define Benefit Plans Adjustment Member
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance		(16,057)		$ (17,319)
Net actuarial gain (loss) arising during the period		(3,143)	468
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		1,698	1,635
Income tax benefit (expense) related to items of other comprehensive income (loss)		578	(841)
Other comprehensive income (loss), net of tax		(867)	1,262
Ending Balance		$ (16,924)	$ (16,057)
[1]	The accumulated other comprehensive loss components are included in the computation of net periodic benefit costs as further discussed in Note 20 – Postretirement Benefits.

Accumulated Other Comprehensi81

Accumulated Other Comprehensive Loss (Amounts reclassified from accumulated other comprehensive loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of net actuarial loss		$ 142	$ 79	$ 848
Amortization of prior service cost		1,556	1,556	1,556
Total reclassifications	[1]	1,698	$ 1,635	$ 2,404
Defined Benefit Plan, Expected Amortization of Prior Service Cost (Credit), Next Fiscal Year		100
Defined Benefit Plan, Expected Amortization of Gain (Loss), Next Fiscal Year		$ 1,600
[1]	The accumulated other comprehensive loss components are included in the computation of net periodic benefit costs as further discussed in Note 20 – Postretirement Benefits.

Employee Benefit and Stock Pl82

Employee Benefit and Stock Plans (Details) - $ / shares	Oct. 05, 2017	Oct. 06, 2016	Oct. 08, 2015	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based payments award terms of Award					5 years	5 years
Stock option transactions
Options outstanding at beginning of year, Options				12,731,545	12,635,644	11,735,042
Options outstanding at beginning of year, Weighted Average Exercise Price in dollars per share				$ 18.95	$ 19.39	$ 20.45
Granted, Options				0	1,012,686	1,262,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price in dollars per share				$ 0	$ 16.21	$ 14.92
Employee stock options/other, Shares				(1,650,360)	(551,898)	(76,164)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price in dollars per share				$ 16.01	$ 13.95	$ 9.69
Cancelled, Options				(1,815,945)	(364,887)	(285,234)
Cancelled, Weighted Average Exercise Price in dollars per share				$ 28.31	$ 34.07	$ 45.80
Options outstanding at end of year, Options				9,265,240	12,731,545	12,635,644
Options outstanding at end of year, Weighted Average Exercise Price in dollars per share				$ 17.64	$ 18.95	$ 19.39
Options exercisable at end of year, Options				8,307,632	10,506,810	10,389,722
Options exercisable at end of period, Weighted Average Exercise Price in dollars per share				$ 17.86	$ 19.70	$ 20.35
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant				7,495,792	7,034,523	1,554,195
Equity Incentive Two Thousand Fourteen Plan [Member] [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based payments award terms of Award				10 years
Director Plan SARs [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based payments award terms of Award				15 years
Performance Based Incentive Plan for Senior Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based payments award terms of Award				15 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number				925,232	809,860	820,209	628,209
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				424,797	369,281	192,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 25.64	$ 16.21	$ 14.92	$ 22.99	$ 13.81	$ 14.92
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period				(278,460)	(374,630)	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value				$ 16.67	$ 10.21	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				(30,965)	(5,000)	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value				$ 14.92	$ 16.21	$ 0
Weighted average per share grant date fair value in dollars per share				$ 20.09	$ 17.19	$ 15.52	$ 15.70

Employee Benefit and Stock Pl83

Employee Benefit and Stock Plans (Details 1)	12 Months Ended
	Nov. 30, 2017$ / sharesshares
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	$ 6.32
Range of Exercise Price in dollars per share, Maximum	$ 45.68
Options Outstanding, Options | shares	9,265,240
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 17.64
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 3 months 1 day
Options Exercisable, Options | shares	8,307,632
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 17.86
Options Exercisable, Weighted Average Remaining Contractual Life	3 years 9 months 1 day
$ 6.32 to $11.05
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	$ 6.32
Range of Exercise Price in dollars per share, Maximum	$ 11.05
Options Outstanding, Options | shares	1,361,500
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 6.36
Options Outstanding, Weighted Average Remaining Contractual Life	3 years 10 months 30 days
Options Exercisable, Options | shares	1,361,500
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 6.36
$11.06 to $14.62
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	11.06
Range of Exercise Price in dollars per share, Maximum	$ 14.62
Options Outstanding, Options | shares	2,165,435
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 12.96
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 1 day
Options Exercisable, Options | shares	2,165,435
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 12.96
$14.63 to $16.20
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	14.63
Range of Exercise Price in dollars per share, Maximum	$ 16.20
Options Outstanding, Options | shares	2,064,255
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 15.15
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 1 day
Options Exercisable, Options | shares	1,709,586
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 15.19
$16.21 to $28.10
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	16.21
Range of Exercise Price in dollars per share, Maximum	$ 28.10
Options Outstanding, Options | shares	2,106,093
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 17.62
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 3 months 1 day
Options Exercisable, Options | shares	1,503,154
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 18.18
$28.11 to $45.68
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	28.11
Range of Exercise Price in dollars per share, Maximum	$ 45.68
Options Outstanding, Options | shares	1,567,957
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 37.23
Options Outstanding, Weighted Average Remaining Contractual Life	1 year 5 months 1 day
Options Exercisable, Options | shares	1,567,957
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 37.23

Employee Benefit and Stock Pl84

Employee Benefit and Stock Plans (Details 2)	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Assumptions of Black-Scholes option-pricing model
Risk-free interest rate	0.00%	1.30%	1.40%
Expected volatility factor	0.00%	41.30%	43.60%
Expected dividend yield	0.00%	0.60%	0.70%
Expected term		5 years	5 years

Employee Benefit and Stock Pl85

Employee Benefit and Stock Plans (Details 3) - USD ($) $ / shares in Units, $ in Thousands	Oct. 05, 2017	Oct. 06, 2016	Oct. 08, 2015	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants				$ 14,633	$ 16,850	$ 17,143
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				1,650,360	551,898	76,164
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants				$ 2,592	$ 7,076	$ 7,576
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants				$ 4,177	$ 2,630	$ 2,499
Restricted stock transactions
Outstanding at beginning of year, Shares				604,619	416,977	355,294
Weighted average per share grant date fair value in dollars per share				$ 21.69	$ 16.24	$ 15.88	$ 15.81
Granted, Shares				321,835	453,703	285,006
Granted, Weighted Average per Share Grant Date Fair Value				$ 24.49	$ 15.73	$ 15.19
Vested, Shares				(364,670)	(252,854)	(204,663)
Vested, Weighted Average per Share Grant Date Fair Value				$ 16.09	$ 14.78	$ 14.83
Cancelled, Shares				(57,858)	(13,207)	(18,660)
Cancelled, Weighted Average per Share Grant Date Fair Value				$ 15.61	$ 15.12	$ 15.45
Outstanding at end of year, Shares				503,926	604,619	416,977
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants				$ 6,439	$ 5,343	$ 5,404
Restricted stock transactions
Outstanding at beginning of year, Shares				809,860	820,209	628,209
Weighted average per share grant date fair value in dollars per share				$ 20.09	$ 17.19	$ 15.52	$ 15.70
Granted, Shares				424,797	369,281	192,000
Granted, Weighted Average per Share Grant Date Fair Value	$ 25.64	$ 16.21	$ 14.92	$ 22.99	$ 13.81	$ 14.92
Vested, Shares				(278,460)	(374,630)	0
Vested, Weighted Average per Share Grant Date Fair Value				$ 16.67	$ 10.21	$ 0
Cancelled, Shares				(30,965)	(5,000)	0
Cancelled, Weighted Average per Share Grant Date Fair Value				$ 14.92	$ 16.21	$ 0
Outstanding at end of year, Shares				925,232	809,860	820,209
Director Stock Units [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants				$ 1,425	$ 1,801	$ 1,664
PSU 2013 [Domain] | Performance Shares
Restricted stock transactions
Granted, Shares				125,460

Employee Benefit and Stock Pl86

Employee Benefit and Stock Plans (Details Textual) $ / shares in Units, $ in Thousands	Oct. 05, 2017$ / shares	Oct. 06, 2016$ / shares	Oct. 08, 2015$ / shares	Nov. 30, 2017USD ($)$ / sharesshares	Nov. 30, 2016USD ($)$ / sharesshares	Nov. 30, 2015USD ($)$ / sharesshares	Apr. 07, 2016shares	Nov. 30, 2014shares	Apr. 03, 2014shares
Employee Benefit and Stock Plans (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares				0	1,012,686	1,262,000
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Exercises in period, total intrinsic value | $				$ 12,100	$ 1,400	$ 400
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares				1,650,360	551,898	76,164
Intrinsic value of stock options outstanding | $				$ 136,300	$ 24,500	$ 16,400
Intrinsic value of stock options exercisable | $				121,300	$ 23,300	$ 16,400
Weighted average fair value of stock options granted | $ / shares					$ 5.82	$ 5.49
Tax shortfall from cancellation of stock awards | $				3,300	$ 2,200	$ 1,700
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities | $				$ 958	$ 186	$ 157
Shares of common stock held in trust | shares				8,897,954	9,431,756
Share Based payments award terms of Award					5 years	5 years
Stock Options
Employee Benefit and Stock Plans (Textual) [Abstract]
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition				1 year 3 months 11 days
Total unrecognized stock-based compensation expense related to unvested stock option awards | $				$ 1,000
Restricted Stock
Employee Benefit and Stock Plans (Textual) [Abstract]
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition				3 years
Minimum period of restriction imposed on share grant lapse				3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares				$ 24.49	$ 15.73	$ 15.19
Total unrecognized stock-based compensation expense related to unvested stock option awards | $				$ 9,900
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | shares				503,926	604,619	416,977		355,294
Performance Shares
Employee Benefit and Stock Plans (Textual) [Abstract]
Minimum period of restriction imposed on share grant lapse				3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 25.64	$ 16.21	$ 14.92	$ 22.99	$ 13.81	$ 14.92
Total unrecognized stock-based compensation expense related to unvested stock option awards | $				$ 19,300
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | shares				925,232	809,860	820,209		628,209
Director Plan SARs [Domain]
Employee Benefit and Stock Plans (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | shares				308,880	452,983	452,983
Non-Employee Director Deferred Common Stock [Domain]
Employee Benefit and Stock Plans (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | shares				456,875	485,632	419,962
Maximum | Performance Shares
Employee Benefit and Stock Plans (Textual) [Abstract]
Grant, award share percentage				200.00%
Minimum | Performance Shares
Employee Benefit and Stock Plans (Textual) [Abstract]
Grant, award share percentage				0.00%
Equity Incentive Two Thousand Fourteen Plan [Member] [Member]
Employee Benefit and Stock Plans (Textual) [Abstract]
Number of shares authorized for issuance of stock based awards to employees | shares				12,300,000			7,500,000		4,800,000
Grant of stock option, Reduce the plan share capacity per share							1
Grant of restricted stock, Reduce the Plan share capacity per share							1.78
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share Based payments award terms of Award				10 years
Performance Based Incentive Plan for Senior Management [Member]
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share Based payments award terms of Award				15 years
2010 Equity Incentive Plan
Employee Benefit and Stock Plans (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares				0
Saving Plan
Employee Benefit and Stock Plans (Textual) [Abstract]
Aggregate cost related to saving plan | $				$ 6,200	$ 5,300	$ 4,600
Net assets invested in funds consisting common stock				7.00%	5.00%	5.00%
Director Plan SARs [Domain]
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share Based payments award terms of Award				15 years
Restricted Stock Vesting Period 12-1-2017 ending 11-30-2020 [Domain]
Employee Benefit and Stock Plans (Textual) [Abstract]
Minimum period of restriction imposed on share grant lapse				3 years

Postretirement Benefits (Detail

Postretirement Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Postretirement Benefits Additional (Textual) [Abstract]
Interest cost	$ 2,274	$ 2,285	$ 2,270
Amortization of prior service cost	1,556	1,556	1,556
Service cost	1,046	1,045	1,142
Amortization of net actuarial loss	142	79	848
Total	5,018	4,965	5,816
Liabilities related to postretirement benefit plan	$ 66,500	$ 62,200
Discounted rate for benefit plan	3.50%	3.60%
Defined Benefit Plan Disclosure [Line Items]
Cash surrender value of insurance contracts	$ 75,236	$ 70,829
2,014	2,000
2,015	2,500
2,016	2,800
2,017	3,500
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	3,600
2018 - 2022	20,300
Supplemental Nonqualified Unfunded Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)	3,900	400	(1,300)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	1,500	1,400	1,400
Cash surrender value of insurance contracts	46,800	44,400
Unfunded Death Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)	1,500	200	$ (300)
Cash surrender value of insurance contracts	$ 18,500	$ 17,000

Supplemental Disclosure to Co88

Supplemental Disclosure to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Summary of cash and cash equivalents at the end of the year:
Cash and cash equivalents	$ 720,861	$ 593,000	$ 560,341	$ 358,768
Interest paid, net of amounts capitalized	2,690	1,134	22,486
Income taxes paid	4,664	3,307	3,612
Income taxes refunded	202	550	11
Supplemental disclosure of non-cash activities:
Increase (decrease) in consolidated inventories not owned	(44,833)	(59,413)	106,807
Inventories acquired through seller financing	49,658	99,108	20,291
Homebuilding [Member]
Summary of cash and cash equivalents at the end of the year:
Cash and cash equivalents	720,630	592,086	559,042
Financial services [Member]
Summary of cash and cash equivalents at the end of the year:
Cash and cash equivalents	231	914	1,299
Inspirada Builders LLC [Member]
Supplemental disclosure of non-cash activities:
Increase in inventories due to distributions of land and land development from an unconsolidated joint venture	6,650	4,277	12,705
Water Intrusion [Member]
Supplemental disclosure of non-cash activities:
Reclassification of warranty recoveries to receivables	$ 0	$ 2,151	$ 7,238

Supplemental Guarantor Inform89

Supplemental Guarantor Information (Narrative) (Details)	12 Months Ended
	Nov. 30, 2017
Guarantees [Abstract]
Ownership share in guarantor subsidiaries	100.00%
Line of Credit Facility, Significant Subsidiary Threshold, Percent	5.00%
Line of Credit Facility, Non Guarantor Subsidiary Threshold, Percent	10.00%

Supplemental Guarantor Inform90

Supplemental Guarantor Information (Condensed Consolidating Statements of Operations) (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Condensed Consolidated Statements of Operations
Revenues		$ 1,403,138	$ 1,144,001	$ 1,002,794	$ 818,596	$ 1,191,942	$ 913,283	$ 811,050	$ 678,371	$ 4,368,529	$ 3,594,646	$ 3,032,030
Homebuilding:
Revenues										4,356,265	3,582,943	3,020,987
Construction and land costs										(3,646,468)	(3,041,101)	(2,539,368)
Selling, general and administrative expenses										(426,394)	(389,441)	(342,998)
Operating income										283,403	152,401	138,621
Interest income										1,240	529	458
Interest Expense	[1]									(6,307)	(5,900)	(21,856)
Intercompany Interest Income (Expense)										0	0	0
Equity in income (loss) of unconsolidated joint ventures										2,825	(5,601)	2,488
Pretax income (loss)		137,346	79,208	51,982	21,459	55,028	53,463	24,797	16,027	289,995	149,315	127,043
Income tax expense										(109,400)	(43,700)	(42,400)
Income (Loss) from Subsidiaries, Net of Tax										0	0	0
Net income		$ 84,346	$ 50,208	$ 31,782	$ 14,259	$ 37,528	$ 39,363	$ 15,597	$ 13,127	180,595	105,615	84,643
KB Home Corporate
Condensed Consolidated Statements of Operations
Revenues										0	0	0
Homebuilding:
Revenues										0	0	0
Construction and land costs										0	0	0
Selling, general and administrative expenses										(91,120)	(91,859)	(86,053)
Operating income										(91,120)	(91,859)	(86,053)
Interest income										1,232	470	451
Interest Expense										(172,102)	(177,329)	(180,701)
Intercompany Interest Income (Expense)										266,784	301,432	289,727
Pretax income (loss)										4,794	32,714	23,424
Income tax expense										(8,800)	17,200	2,000
Income (Loss) from Subsidiaries, Net of Tax										184,601	55,701	59,219
Net income										180,595	105,615	84,643
Guarantor Subsidiaries
Condensed Consolidated Statements of Operations
Revenues										3,957,267	3,169,545	2,640,678
Homebuilding:
Revenues										3,957,267	3,169,545	2,640,678
Construction and land costs										(3,286,891)	(2,661,888)	(2,196,228)
Selling, general and administrative expenses										(293,233)	(251,384)	(213,292)
Operating income										377,143	256,273	231,158
Interest income										8	55	6
Interest Expense										(1,635)	(3,958)	(6,184)
Intercompany Interest Income (Expense)										(117,926)	(107,388)	(101,540)
Pretax income (loss)										256,183	142,803	121,637
Income tax expense										(100,000)	(52,700)	(46,700)
Income (Loss) from Subsidiaries, Net of Tax										0	0	0
Net income										156,183	90,103	74,937
Non-Guarantor Subsidiaries
Condensed Consolidated Statements of Operations
Revenues										411,262	425,101	391,352
Homebuilding:
Revenues										398,998	413,398	380,309
Construction and land costs										(359,577)	(379,213)	(343,140)
Selling, general and administrative expenses										(42,041)	(46,198)	(43,653)
Operating income										(2,620)	(12,013)	(6,484)
Interest income										0	4	1
Interest Expense										3,434	3,946	0
Intercompany Interest Income (Expense)										22,006	(14,711)	(23,158)
Pretax income (loss)										29,018	(26,202)	(18,018)
Income tax expense										(600)	(8,200)	2,300
Income (Loss) from Subsidiaries, Net of Tax										0	0	0
Net income										28,418	(34,402)	(15,718)
Homebuilding [Member]
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures										(1,409)	(2,181)	(1,804)
Pretax income (loss)										276,927	144,849	115,419
Homebuilding [Member] | KB Home Corporate
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures										0	0	0
Pretax income (loss)										4,794	32,714	23,424
Homebuilding [Member] | Guarantor Subsidiaries
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures										(1,407)	(2,179)	(1,803)
Pretax income (loss)										256,183	142,803	121,637
Homebuilding [Member] | Non-Guarantor Subsidiaries
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures										(2)	(2)	(1)
Pretax income (loss)										15,950	(30,668)	(29,642)
Financial services [Member]
Homebuilding:
Operating income										8,834	7,886	7,332
Equity in income (loss) of unconsolidated joint ventures										4,234	(3,420)	4,292
Pretax income (loss)										13,068	4,466	11,624
Financial services [Member] | KB Home Corporate
Homebuilding:
Pretax income (loss)										0	0	0
Financial services [Member] | Guarantor Subsidiaries
Homebuilding:
Pretax income (loss)										0	0	0
Financial services [Member] | Non-Guarantor Subsidiaries
Homebuilding:
Pretax income (loss)										13,068	4,466	11,624
Consolidating Adjustments
Condensed Consolidated Statements of Operations
Revenues										0	0	0
Homebuilding:
Revenues										0	0	0
Construction and land costs										0	0	0
Selling, general and administrative expenses										0	0	0
Operating income										0	0	0
Interest income										0	0	0
Interest Expense										170,864	179,333	165,029
Intercompany Interest Income (Expense)										(170,864)	(179,333)	(165,029)
Pretax income (loss)										0	0	0
Income tax expense										0	0	0
Income (Loss) from Subsidiaries, Net of Tax										(184,601)	(55,701)	(59,219)
Net income										(184,601)	(55,701)	(59,219)
Consolidating Adjustments | Homebuilding [Member]
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures										0	0	0
Pretax income (loss)										0	0	0
Consolidating Adjustments | Financial services [Member]
Homebuilding:
Pretax income (loss)										$ 0	$ 0	$ 0
[1]	Interest incurred and interest expensed for the year ended November 30, 2017 included a charge of $5.7 million for the early extinguishment of debt.

Supplemental Guarantor Inform91

Supplemental Guarantor Information (Condensed Consolidating Statements of Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Net income	$ 84,346	$ 50,208	$ 31,782	$ 14,259	$ 37,528	$ 39,363	$ 15,597	$ 13,127	$ 180,595	$ 105,615	$ 84,643
Other Comprehensive Income (Loss), before Reclassifications, before Tax									(1,445)	2,103	6,149
Other Comprehensive Income (Loss), before Tax									(1,445)	2,103	6,149
Income tax benefit (expense) related to items of other comprehensive income (loss)									578	(841)	(2,460)
Other comprehensive income (loss), net of tax									(867)	1,262	3,689
Comprehensive income									179,728	106,877	88,332
KB Home Corporate
Net income									180,595	105,615	84,643
Other Comprehensive Income (Loss), before Reclassifications, before Tax									(1,445)	2,103	6,149
Other Comprehensive Income (Loss), before Tax									(1,445)	2,103	6,149
Income tax benefit (expense) related to items of other comprehensive income (loss)									578	(841)	(2,460)
Other comprehensive income (loss), net of tax									(867)	1,262	3,689
Comprehensive income									179,728	106,877	88,332
Guarantor Subsidiaries
Net income									156,183	90,103	74,937
Other Comprehensive Income (Loss), before Reclassifications, before Tax									0	0	0
Other Comprehensive Income (Loss), before Tax									0	0	0
Income tax benefit (expense) related to items of other comprehensive income (loss)									0	0	0
Other comprehensive income (loss), net of tax									0	0	0
Comprehensive income									156,183	90,103	74,937
Non-Guarantor Subsidiaries
Net income									28,418	(34,402)	(15,718)
Other Comprehensive Income (Loss), before Reclassifications, before Tax									0	0	0
Other Comprehensive Income (Loss), before Tax									0	0	0
Income tax benefit (expense) related to items of other comprehensive income (loss)									0	0	0
Other comprehensive income (loss), net of tax									0	0	0
Comprehensive income									28,418	(34,402)	(15,718)
Consolidating Adjustments
Net income									(184,601)	(55,701)	(59,219)
Other Comprehensive Income (Loss), before Reclassifications, before Tax									0	0	0
Other Comprehensive Income (Loss), before Tax									0	0	0
Income tax benefit (expense) related to items of other comprehensive income (loss)									0	0	0
Other comprehensive income (loss), net of tax									0	0	0
Comprehensive income									$ (184,601)	$ (55,701)	$ (59,219)

Supplemental Guarantor Inform92

Supplemental Guarantor Information (Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Thousands		Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Assets
Cash and cash equivalents		$ 720,861	$ 593,000	$ 560,341	$ 358,768
Receivables		244,213	231,665
Inventory, Operative Builders		3,263,386	3,403,228
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		64,794	64,016
Deferred tax assets, net		633,637	738,985
Other assets		102,498	91,145
Investments in subsidiaries		0	0
Total assets		5,041,515	5,131,624
Due from Affiliates		0	0
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		789,393	766,327
Notes payable		2,324,845	2,640,149
Financial services		966	2,003
Due to Affiliate		0	0
Stockholder's equity		1,926,311	1,723,145	1,690,834	1,595,910
Total liabilities and Stockholders' equity		5,041,515	5,131,624
KB Home Corporate
Assets
Cash and cash equivalents		575,193	463,100	444,850	303,280
Receivables		24,815	4,807
Inventory, Operative Builders		0	0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		0	0
Deferred tax assets, net		250,747	276,737
Other assets		91,592	79,526
Investments in subsidiaries		49,776	35,965
Total assets		4,406,360	4,419,147
Due from Affiliates		3,414,237	3,559,012
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		163,984	131,530
Notes payable		2,289,532	2,548,112
Financial services		0	0
Due to Affiliate		26,533	16,360
Stockholder's equity		1,926,311	1,723,145
Total liabilities and Stockholders' equity		4,406,360	4,419,147
Guarantor Subsidiaries
Assets
Cash and cash equivalents		102,661	100,439	96,741	36,412
Receivables		144,076	135,915
Inventory, Operative Builders		2,929,466	3,048,132
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		62,290	61,517
Deferred tax assets, net		243,523	318,077
Other assets		8,424	9,177
Investments in subsidiaries		0	0
Total assets		3,490,440	3,673,257
Due from Affiliates		0	0
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		371,909	397,605
Notes payable		9,283	66,927
Financial services		0	0
Due to Affiliate		3,109,248	3,208,725
Stockholder's equity		0	0
Total liabilities and Stockholders' equity		3,490,440	3,673,257
Non-Guarantor Subsidiaries
Assets
Cash and cash equivalents		43,007	29,461	18,750	19,076
Receivables		75,322	90,943
Inventory, Operative Builders		333,920	355,096
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		2,504	2,499
Deferred tax assets, net		139,367	144,171
Other assets		2,482	2,442
Investments in subsidiaries		0	0
Total assets		716,720	731,259
Due from Affiliates		107,992	97,062
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		253,500	237,192
Notes payable		26,030	25,110
Financial services		966	2,003
Due to Affiliate		386,448	430,989
Stockholder's equity		49,776	35,965
Total liabilities and Stockholders' equity		716,720	731,259
Homebuilding [Member]
Assets
Cash and cash equivalents		720,630	592,086	559,042
Total assets		5,029,158	5,121,125
Liabilities and stockholders' equity
Total Homebuilding		3,114,238	3,406,476
Homebuilding [Member] | KB Home Corporate
Assets
Cash and cash equivalents		575,193	463,100
Total assets		942,347	824,170
Liabilities and stockholders' equity
Total Homebuilding		2,453,516	2,679,642
Homebuilding [Member] | Guarantor Subsidiaries
Assets
Cash and cash equivalents		102,661	100,439
Total assets		3,490,440	3,673,257
Liabilities and stockholders' equity
Total Homebuilding		381,192	464,532
Homebuilding [Member] | Non-Guarantor Subsidiaries
Assets
Cash and cash equivalents		42,776	28,547
Total assets		596,371	623,698
Liabilities and stockholders' equity
Total Homebuilding		279,530	262,302
Financial services [Member]
Assets
Cash and cash equivalents		231	914	1,299
Receivables		1,724	1,764
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	[1]	10,340	7,771
Other assets		62	50
Total assets		12,357	10,499
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		966	2,003
Financial services [Member] | KB Home Corporate
Assets
Total assets		0	0
Financial services [Member] | Guarantor Subsidiaries
Assets
Total assets		0	0
Financial services [Member] | Non-Guarantor Subsidiaries
Assets
Total assets		12,357	10,499
Consolidating Adjustments
Assets
Cash and cash equivalents		0	0	$ 0	$ 0
Receivables		0	0
Inventory, Operative Builders		0	0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		0	0
Deferred tax assets, net		0	0
Other assets		0	0
Investments in subsidiaries		(49,776)	(35,965)
Total assets		(3,572,005)	(3,692,039)
Due from Affiliates		(3,522,229)	(3,656,074)
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		0	0
Notes payable		0	0
Financial services		0	0
Due to Affiliate		(3,522,229)	(3,656,074)
Stockholder's equity		(49,776)	(35,965)
Total liabilities and Stockholders' equity		(3,572,005)	(3,692,039)
Consolidating Adjustments | Homebuilding [Member]
Assets
Cash and cash equivalents		0	0
Total assets		0	0
Liabilities and stockholders' equity
Total Homebuilding		0	0
Consolidating Adjustments | Financial services [Member]
Assets
Total assets		$ 0	$ 0
[1]	In 2017, we made a $5.3 million capital contribution to KBHS and received a $5.0 million distribution from HCM.

Supplemental Guarantor Inform93

Supplemental Guarantor Information (Condensed Consolidated Statements of Cash Flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	$ 513,219	$ 188,655	$ 181,185
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(18,694)	(5,602)	(20,626)
Return of investments in unconsolidated joint ventures	11,035	4,307	14,000
Purchases of property and equipment, net	(8,085)	(4,784)	(4,677)
Intercompany	0	0	0
Net cash used in investing activities	(15,744)	(6,079)	(11,303)
Cash flows from financing activities:
Proceeds from (Repayments of) Restricted Cash, Financing Activities	0	9,344	17,891
Proceeds from issuance of debt	0	0	250,000
Payment of debt issuance costs	(1,711)	0	(4,561)
Repayment of senior notes	(270,326)	0	(199,906)
Payments on mortgages and land contracts due to land sellers and other loans	(106,382)	(67,845)	(22,877)
Issuance of common stock under employee stock plans	23,162	5,343	740
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	958	186	157
Payments of cash dividends	(8,642)	(8,586)	(9,186)
Stock repurchases	(6,673)	(88,359)	(567)
Intercompany	0	0	0
Net cash provided by (used in) financing activities	(369,614)	(149,917)	31,691
Net increase in cash and cash equivalents	127,861	32,659	201,573
Cash and cash equivalents at beginning of year	593,000	560,341	358,768
Cash and cash equivalents at end of year	720,861	593,000	560,341
KB Home Corporate
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	70,683	(40,277)	44,422
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	0	0	0
Return of investments in unconsolidated joint ventures	0	0	0
Purchases of property and equipment, net	(7,215)	(4,052)	(2,890)
Intercompany	311,857	144,651	45,470
Net cash used in investing activities	304,642	140,599	42,580
Cash flows from financing activities:
Proceeds from (Repayments of) Restricted Cash, Financing Activities		9,344	17,891
Proceeds from issuance of debt			250,000
Payment of debt issuance costs	(1,711)		(4,561)
Repayment of senior notes	(270,326)		(199,906)
Payments on mortgages and land contracts due to land sellers and other loans	0	0	0
Issuance of common stock under employee stock plans	23,162	5,343	740
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	958	186	157
Payments of cash dividends	(8,642)	(8,586)	(9,186)
Stock repurchases	(6,673)	(88,359)	(567)
Intercompany	0	0	0
Net cash provided by (used in) financing activities	(263,232)	(82,072)	54,568
Net increase in cash and cash equivalents	112,093	18,250	141,570
Cash and cash equivalents at beginning of year	463,100	444,850	303,280
Cash and cash equivalents at end of year	575,193	463,100	444,850
Guarantor Subsidiaries
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	374,524	188,372	110,688
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(13,563)	(4,852)	(20,625)
Return of investments in unconsolidated joint ventures	4,119	4,307	14,000
Purchases of property and equipment, net	(819)	(555)	(1,271)
Intercompany	0	0	0
Net cash used in investing activities	(10,263)	(1,100)	(7,896)
Cash flows from financing activities:
Proceeds from (Repayments of) Restricted Cash, Financing Activities		0	0
Proceeds from issuance of debt			0
Payment of debt issuance costs	0		0
Repayment of senior notes	0		0
Payments on mortgages and land contracts due to land sellers and other loans	(106,382)	(67,845)	(22,877)
Issuance of common stock under employee stock plans	0	0	0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	0	0	0
Payments of cash dividends	0	0	0
Stock repurchases	0	0	0
Intercompany	(255,657)	(115,729)	(19,586)
Net cash provided by (used in) financing activities	(362,039)	(183,574)	(42,463)
Net increase in cash and cash equivalents	2,222	3,698	60,329
Cash and cash equivalents at beginning of year	100,439	96,741	36,412
Cash and cash equivalents at end of year	102,661	100,439	96,741
Non-Guarantor Subsidiaries
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	68,012	40,560	26,075
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(5,131)	(750)	(1)
Return of investments in unconsolidated joint ventures	6,916	0	0
Purchases of property and equipment, net	(51)	(177)	(516)
Intercompany	0	0	0
Net cash used in investing activities	1,734	(927)	(517)
Cash flows from financing activities:
Proceeds from (Repayments of) Restricted Cash, Financing Activities		0	0
Proceeds from issuance of debt			0
Payment of debt issuance costs	0		0
Repayment of senior notes	0		0
Payments on mortgages and land contracts due to land sellers and other loans	0	0	0
Issuance of common stock under employee stock plans	0	0	0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	0	0	0
Payments of cash dividends	0	0	0
Stock repurchases	0	0	0
Intercompany	(56,200)	(28,922)	(25,884)
Net cash provided by (used in) financing activities	(56,200)	(28,922)	(25,884)
Net increase in cash and cash equivalents	13,546	10,711	(326)
Cash and cash equivalents at beginning of year	29,461	18,750	19,076
Cash and cash equivalents at end of year	43,007	29,461	18,750
Consolidating Adjustments
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	0	0	0
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	0	0	0
Return of investments in unconsolidated joint ventures	0	0	0
Purchases of property and equipment, net	0	0	0
Intercompany	(311,857)	(144,651)	(45,470)
Net cash used in investing activities	(311,857)	(144,651)	(45,470)
Cash flows from financing activities:
Proceeds from (Repayments of) Restricted Cash, Financing Activities		0	0
Proceeds from issuance of debt			0
Payment of debt issuance costs	0		0
Repayment of senior notes	0		0
Payments on mortgages and land contracts due to land sellers and other loans	0	0	0
Issuance of common stock under employee stock plans	0	0	0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	0	0	0
Payments of cash dividends	0	0	0
Stock repurchases	0	0	0
Intercompany	311,857	144,651	45,470
Net cash provided by (used in) financing activities	311,857	144,651	45,470
Net increase in cash and cash equivalents	0	0	0
Cash and cash equivalents at beginning of year	0	0	0
Cash and cash equivalents at end of year	$ 0	$ 0	$ 0

Quarterly Results (unaudited)94

Quarterly Results (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended								12 Months Ended
		Nov. 30, 2017	Aug. 31, 2017	May 31, 2017	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Loss Contingencies [Line Items]
Product Warranty Accrual, Preexisting, Increase (Decrease)	[1]									$ 0	$ (652)	$ (7,238)
Valuation Allowance, Deferred Tax Asset, Change in Amount										(1,200)	(13,000)	(3,400)
Revenues		$ 1,403,138	$ 1,144,001	$ 1,002,794	$ 818,596	$ 1,191,942	$ 913,283	$ 811,050	$ 678,371	4,368,529	3,594,646	3,032,030
Gross profits		255,442	188,110	155,382	119,697	167,667	151,902	121,465	108,694
Inventory Impairments and Land Option Contract Abandonments		7,110	8,113	6,001	4,008	36,054	3,052	11,740	1,966	25,232	52,812	9,591
Pretax income (loss)		137,346	79,208	51,982	21,459	55,028	53,463	24,797	16,027	289,995	149,315	127,043
Net income		$ 84,346	$ 50,208	$ 31,782	$ 14,259	$ 37,528	$ 39,363	$ 15,597	$ 13,127	$ 180,595	$ 105,615	$ 84,643
Earnings per share: Diluted (usd per share)		$ 0.84	$ 0.51	$ 0.33	$ 0.15	$ 0.40	$ 0.42	$ 0.17	$ 0.14	$ 1.85	$ 1.12	$ 0.85
Earnings per share: Basic (usd per share)		$ 0.97	$ 0.58	$ 0.37	$ 0.17	$ 0.44	$ 0.46	$ 0.18	$ 0.15	$ 2.09	$ 1.23	$ 0.92
Land Option Contract Abandonment [Member]
Loss Contingencies [Line Items]
Loss on Contract Termination										$ 4,627	$ 3,232	$ 1,561
Southeast [Member] | Land Option Contract Abandonment [Member]
Loss Contingencies [Line Items]
Loss on Contract Termination										$ 556	1,750	$ 984
Metro Washington, D.C. [Member] | Southeast [Member] | Land Option Contract Abandonment [Member]
Loss Contingencies [Line Items]
Loss on Contract Termination											$ 1,400
[1]	Adjustments for 2016 and 2015 included the reclassification of certain estimated minimum probable recoveries to receivables in connection with the above-noted water intrusion-related issues. The adjustments for each year had no impact on our consolidated statements of operations.

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2018	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2017	Nov. 30, 2016	Nov. 30, 2015
Subsequent Event [Line Items]
Effective Income Tax Rate Reconciliation, Percent				37.70%	35.00%	29.30%	33.40%
Subsequent Event [Member]
Subsequent Event [Line Items]
Effective Income Tax Rate Reconciliation, Percent	21.00%		27.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ 115