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Commitments and Contingencies (Tables)
 9 Months Ended
Aug. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Additional Information About Leases The following table includes additional information about the Company's leases:
(Dollars in thousands)August 31, 2022November 30, 2021
Right-of-use assets$151,975 155,616 
Lease liabilities160,607 163,513 
Weighted-average remaining lease term (in years)8.18.2
Weighted-average discount rate3.0 %2.8 %
Future Minimum Payments Under Noncancellable Leases
Future minimum payments under the noncancellable leases in effect at August 31, 2022 were as follows:
(In thousands)Lease Payments
2022$8,520 
202332,581 
202426,967 
202522,752 
202617,972 
2027 and thereafter72,359 
Total future minimum lease payments (1)$181,151 
Less: Interest (2)20,544 
Present value of lease liabilities (2)$160,607 
(1)Total future minimum lease payments exclude variable lease costs of $26.4 million and short-term lease costs of $2.3 million.
(2)The Company's leases do not include a readily determinable implicit rate. As such, the Company has estimated the discount rate for these leases to determine the present value of lease payments at the lease commencement date or as of December 1, 2019, which was the effective date of ASU 2016-02. As of August 31, 2022, the weighted average remaining lease term and weighted average discount rate used in calculating the lease liabilities were 8.1 years and 3.0%, respectively. The Company recognized the lease liabilities on its condensed consolidated balance sheets within accounts payable and other liabilities of the respective segments.
Lease, Cost
The Company's rental expense and payments on lease liabilities were as follows:
Nine Months Ended
August 31,
(In thousands)20222021
Rental expense$78,244 63,232 
Payment on lease liabilities23,170 22,174