XML 23 R13.htm IDEA: XBRL DOCUMENT v3.22.2.2
Product Warranty
9 Months Ended
Aug. 31, 2022
Product Warranties Disclosures [Abstract]  
Product Warranty Product Warranty
Warranty and similar reserves for homes are established at an amount estimated to be adequate to cover potential costs for materials and labor with regard to warranty-type claims expected to be incurred subsequent to the delivery of a home. Reserves are determined based on historical data and trends with respect to similar product types and geographical areas. The activity in the Company’s warranty reserve, which is included in Homebuilding other liabilities, was as follows:
Three Months EndedNine Months Ended
August 31,August 31,
(In thousands)2022202120222021
Warranty reserve, beginning of the period$377,990 361,741 377,021 341,765 
Warranties issued73,697 55,236 190,704 149,854 
Adjustments to pre-existing warranties from changes in estimates (1)10,301 8,288 16,023 27,048 
Payments(67,395)(50,290)(189,155)(143,692)
Warranty reserve, end of period$394,593 374,975 394,593 374,975 
(1)The adjustments to pre-existing warranties from changes in estimates during the three and nine months ended August 31, 2022 and 2021 primarily related to specific claims in certain of the Company's homebuilding communities and other adjustments.