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Homebuilding Senior Notes and Other Debts Payable (Tables)

6 Months Ended

May 31, 2021

Debt Disclosure [Abstract]

Schedule of 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.

Schedule of Letter of Credit Facilities

At May 31, 2021, the Financial Services warehouse facilities were all 364-day repurchase facilities and were used to fund residential mortgages or commercial mortgages for LMF Commercial as follows:

(In thousands)			Maximum Aggregate Commitment
Residential facilities maturing:
June 2021 (1)			$	600,000
July 2021			200,000
December 2021			500,000
April 2022			100,000
Total - Residential facilities			$	1,400,000
LMF Commercial facilities maturing
November 2021			$	100,000
December 2021 (2)			611,438
Total - LMF Commercial facilities			$	711,438
Total			$	2,111,438

(1)Subsequent to May 31, 2021, the maturity due date was extended to July 2021.

(2)Includes $11.4 million warehouse repurchase facility used by LMF Commercial to finance the origination of floating rate accrual loans, which are reported as accrual loans within loans held-for-investment, net.

Borrowings and collateral under the facilities and their prior year predecessors were as follows:

(In thousands)			May 31, 2021						November 30, 2020
Borrowings under the residential facilities			$	671,541					1,185,797
Collateral under the residential facilities			695,275						1,231,619
Borrowings under the LMF Commercial facilities			104,247						124,617

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

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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