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Homebuilding Senior Notes and Other Debts Payable | 6 Months Ended
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May 31, 2021
Debt Disclosure [Abstract] |
Homebuilding Senior Notes and Other Debts Payable | Homebuilding Senior Notes and Other Debts Payable
(Dollars in thousands) | May 31, 2021 |  | November 30, 2020
6.25% senior notes due December 2021 (1) | $ | 302,705 |  |  | 305,221 |
4.125% senior notes due 2022 | 599,371 |  |  | 598,876 |
5.375% senior notes due 2022 | 253,914 |  |  | 255,342 |
4.750% senior notes due 2022 | 573,300 |  |  | 572,724 |
4.875% senior notes due December 2023 | 397,948 |  |  | 397,347 |
4.500% senior notes due 2024 | 647,890 |  |  | 647,528 |
5.875% senior notes due 2024 | 441,147 |  |  | 443,484 |
4.750% senior notes due 2025 | 498,224 |  |  | 498,002 |
5.25% senior notes due 2026 | 406,103 |  |  | 406,709 |
5.00% senior notes due 2027 | 352,316 |  |  | 352,508 |
4.75% senior notes due 2027 | 895,135 |  |  | 894,760 |
Mortgage notes on land and other debt | 526,289 |  |  | 583,257 |
| $ | 5,894,342 |  |  | 5,955,758 |
(1)Subsequent to May 31, 2021, the Company retired these notes. The redemption price, which was paid in cash, was par plus accrued but unpaid interest. The carrying amounts of the senior notes in the table above are net of debt issuance costs of $13.6 million and $15.9 million as of May 31, 2021 and November 30, 2020, respectively. As of May 31, 2021 the maximum available borrowings on the Company's unsecured revolving credit facility (the "Credit Facility") were $2.5 billion and included a $300 million accordion feature, subject to additional commitments, thus the maximum borrowings could be $2.8 billion maturing in 2024. The Credit Facility agreement (the "Credit Agreement") provides that up to $500 million in commitments may be used for letters of credit. The maturity, debt covenants and details of the Credit Facility are unchanged from the disclosure in the Company's Financial Condition and Capital Resources section in its Form 10-K for the year ended November 30, 2020. In addition to the Credit Facility, the Company has other letter of credit facilities with different financial institutions. Procedures related to performance letters of credit, financial letters of credit and surety bonds are unchanged from the disclosure in the Company's Financial Condition and Capital Resources section in its Form 10-K for the year ended November 30, 2020. The Company's outstanding performance letters of credit and surety bonds are described below:
(In thousands) |  | May 31, 2021 |  | November 30, 2020
Performance letters of credit |  | $ | 817,831 |  |  | 752,096 |
Surety bonds |  | 3,306,473 |  |  | 3,087,711 |
Anticipated future costs primarily for site improvements related to performance surety bonds |  | 1,743,993 |  |  | 1,584,642 |
The Company's senior notes are guaranteed by substantially all of the Company's 100% owned homebuilding subsidiaries and some of the Company's other subsidiaries. These guarantees are unchanged from the disclosure in the Company's Financial Condition and Capital Resources section in its Form 10-K for the year ended November 30, 2020.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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