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Homebuilding Senior Notes and Other Debts Payable (Tables)

9 Months Ended

Aug. 31, 2021

Debt Disclosure [Abstract]

Schedule of Senior Notes and Other Debts Payable

(Dollars in thousands)			August 31, 2021						November 30, 2020
4.125% senior notes due 2022 (1)			$	599,619					598,876
5.375% senior notes due 2022			253,199						255,342
4.750% senior notes due 2022			573,570						572,724
4.875% senior notes due December 2023			398,147						397,347
4.500% senior notes due 2024			648,072						647,528
5.875% senior notes due 2024			439,978						443,484
4.750% senior notes due 2025			498,335						498,002
5.25% senior notes due 2026			405,800						406,709
5.00% senior notes due 2027			352,220						352,508
4.75% senior notes due 2027			895,322						894,760
6.25% senior notes due December 2021			—						305,221
Mortgage notes on land and other debt			478,251						583,257
			$	5,542,513					5,955,758

(1)Subsequent to August 31, 2021, the Company provided notice that it would redeem on October 15, 2021 its $600 million 4.125% senior unsecured notes, which have a scheduled maturity of January 15, 2022.

Schedule of Letter of Credit Facilities

At August 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:
October 2021			$	200,000
December 2021			500,000
April 2022			100,000
July 2022			600,000
Total - Residential facilities			$	1,400,000
LMF Commercial facilities maturing
November 2021			$	100,000
December 2021 (1)			411,438
July 2023			50,000
Total - LMF Commercial facilities			$	561,438
Total			$	1,961,438

(1)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)			August 31, 2021						November 30, 2020
Borrowings under the residential facilities			$	900,332					1,185,797
Collateral under the residential facilities			934,345						1,231,619
Borrowings under the LMF Commercial facilities			54,990						124,617

The Company's outstanding performance letters of credit and surety bonds are described below:

(In thousands)						August 31, 2021						November 30, 2020
Performance letters of credit						$	874,820					752,096
Surety bonds						3,465,134						3,087,711
Anticipated future costs primarily for site improvements related to performance surety bonds						1,595,800						1,584,642

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