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Product Warranty (Tables)

6 Months Ended

May 31, 2021

Product Warranties Disclosures [Abstract]

Schedule of Product Warranty Reserve

The activity in the Company’s warranty reserve, which are included in Homebuilding other liabilities, was as follows:

			Three Months Ended												Six Months Ended
			May 31,												May 31,
(In thousands)			2021						2020						2021						2020
Warranty reserve, beginning of the period			$	348,100					287,413						341,765						294,138
Warranties issued			51,690						46,272						94,618						84,543
Adjustments to pre-existing warranties from changes in estimates (1)			13,119						7,707						18,760						13,611
Payments			(51,168)						(39,930)						(93,402)						(90,830)
Warranty reserve, end of period			$	361,741					301,462						361,741						301,462

(1)The adjustments to pre-existing warranties from changes in estimates during the three and six months ended May 31, 2021 and May 31, 2020 primarily related to specific claims in certain of the Company's homebuilding communities and other adjustments.

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- References

No definition available.

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- Definition

Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249

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