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Lennar Homebuilding Senior Notes And Other Debts Payable (Tables) | 12 Months Ended
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Nov. 30, 2021
Debt Disclosure [Abstract] |
Schedule Of Senior Notes And Other Debts Payable |
| November 30,
(Dollars in thousands) | 2021 |  | 2020
4.750% senior notes due 2022 | $ | 573,840 |  |  | 572,724 |
4.875% senior notes due December 2023 | 398,345 |  |  | 397,347 |
4.500% senior notes due 2024 | 648,253 |  |  | 647,528 |
5.875% senior notes due 2024 | 438,810 |  |  | 443,484 |
4.750% senior notes due 2025 | 498,446 |  |  | 498,002 |
5.25% senior notes due 2026 | 405,497 |  |  | 406,709 |
5.00% senior notes due 2027 | 352,124 |  |  | 352,508 |
4.75% senior notes due 2027 | 895,510 |  |  | 894,760 |
6.25% senior notes due December 2021 | — |  |  | 305,221 |
4.125% senior notes due 2022 | — |  |  | 598,876 |
5.375% senior notes due 2022 | — |  |  | 255,342 |
Mortgage notes on land and other debt | 441,513 |  |  | 583,257 |
| $ | 4,652,338 |  |  | 5,955,758 |
The terms of each of the Company's senior notes outstanding at November 30, 2021 were as follows:
Senior Notes Outstanding (1) |  | Principal Amount |  | Net Proceeds (2) |  | Price |  | Dates Issued
(Dollars in thousands) |  |  |  |  |  |  |  |
4.750% senior notes due 2022 |  | $ | 575,000 |  |  | $ | 567,585 |  |  | (4) |  | October 2012, February 2013, April 2013
4.875% senior notes due December 2023 |  | 400,000 |  |  | 393,622 |  |  | 99.169 | % |  | November 2015
4.500% senior notes due 2024 |  | 650,000 |  |  | 644,838 |  |  | 100 | % |  | April 2017
5.875% senior notes due 2024 |  | 425,000 |  |  | (3) |  | (3) |  | (3)
4.750% senior notes due 2025 |  | 500,000 |  |  | 495,528 |  |  | 100 | % |  | April 2015
5.25% senior notes due 2026 |  | 400,000 |  |  | (3) |  | (3) |  | (3)
5.00% senior notes due 2027 |  | 350,000 |  |  | (3) |  | (3) |  | (3)
4.75% senior notes due 2027 |  | 900,000 |  |  | 894,650 |  |  | 100 | % |  | November 2017
(1)Interest is payable semi-annually for each of the series of senior notes. The senior notes are unsecured and unsubordinated, but are guaranteed by substantially all of the Company's 100% owned homebuilding subsidiaries. (2)The Company generally has historically used the net proceeds for working capital and general corporate purposes, which can include the repayment or repurchase of other outstanding senior notes. (3)These notes were obligations of CalAtlantic when it was acquired, and were subsequently exchanged in part for notes of the Company. As part of purchase accounting, the senior notes have been recorded at their fair value as of the date of acquisition (February 12, 2018). (4)The Company issued $350 million aggregate principal amount at a price of 100%, $175 million aggregate principal amount at a price of 98.073% and $50 million aggregate principal amount at a price of 98.250%.
Schedule of Line of Credit Facilities | At November 30, 2021, the Financial Services segment had warehouse facilities, all of which were 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: |
December 2021 (1) | $ | 500,000 |
April 2022 | 700,000 |
July 2022 | 600,000 |
October 2022 | 500,000 |
Total - Residential facilities | $ | 2,300,000 |
LMF Commercial facilities maturing: |
December 2021 (1) | $ | 400,000 |
November 2022 | 100,000 |
July 2023 | 50,000 |
Total - LMF Commercial facilities | $ | 550,000 |
Total | $ | 2,850,000 |
(1)Subsequent to November 30, 2021, the maturity date was extended to December 2022. Borrowings and collateral under the facilities and their prior year predecessors were as follows:
| November 30,
(In thousands) | 2021 |  | 2020
Borrowings under the residential facilities | $ | 1,482,258 |  |  | 1,185,797
Collateral under the residential facilities | 1,539,641 |  |  | 1,231,619
Borrowings under the LMF Commercial facilities | 96,294 |  |  | 124,617
The Company's outstanding letters of credit and surety bonds are described below:
| November 30,
(In thousands) | 2021 |  | 2020
Performance letters of credit | $ | 924,584 |  |  | 752,096 |
Financial letters of credit | 425,843 |  |  | 283,193 |
Surety bonds | 3,553,047 |  |  | 3,087,711 |
Anticipated future costs primarily for site improvements related to performance surety bonds | 1,690,861 |  |  | 1,584,642 |
Schedule Of Maturities Of Senior Notes And Other Debts Payable | The minimum aggregate principal maturities of Homebuilding senior notes and other debts payable during the five years subsequent to November 30, 2021 and thereafter are as follows:
(In thousands) | Debt Maturities
2022 | $ | 718,279 |
2023 | 104,387 |
2024 | 1,529,977 |
2025 | 591,432 |
2026 | 402,794 |
Thereafter | 1,294,642 |

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