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Homebuilding Senior Notes And Other Debts Payable (Tables)

12 Months Ended

Nov. 30, 2022

Debt Disclosure [Abstract]

Schedule Of Senior Notes And Other Debts Payable

			November 30,
(Dollars in thousands)			2022						2021
4.875% senior notes due December 2023			$	399,169					398,345
4.500% senior notes due 2024			648,975						648,253
5.875% senior notes due 2024			434,128						438,810
4.750% senior notes due 2025			498,892						498,446
5.25% senior notes due 2026			404,257						405,497
5.00% senior notes due 2027			351,741						352,124
4.75% senior notes due 2027			896,259						895,510
4.750% senior notes due 2022			—						573,840
Mortgage notes on land and other debt			413,873						441,513
			$	4,047,294					4,652,338

The terms of each of the Company's senior notes outstanding at November 30, 2022 were as follows:

Senior Notes Outstanding (1)						Principal Amount						Net Proceeds (2)						Price						Date Issued
(Dollars in thousands)
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).

Schedule of Line of Credit Facilities

At November 30, 2022, the Financial Services warehouse facilities 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 2022 (1)			$	800,000
May 2023			500,000
August 2023			1,000,000
Total - Residential facilities			$	2,300,000
LMF Commercial facilities maturing:
December 2022 (1)			$	400,000
July 2023			50,000
November 2023			100,000
Total - LMF Commercial facilities			$	550,000
Total			$	2,850,000

(1)Subsequent to November 30, 2022, the maturity date was extended to December 2023.

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

			November 30,
(In thousands)			2022						2021
Borrowings under the residential facilities			$	1,877,411					1,482,258
Collateral under the residential facilities			1,950,155						1,539,641
Borrowings under the LMF Commercial facilities			124,399						96,294

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

			November 30,
(In thousands)			2022						2021
Performance letters of credit			$	1,259,033					924,584
Financial letters of credit			503,659						425,843
Surety bonds			4,136,715						3,553,047
Anticipated future costs primarily for site improvements related to performance surety bonds			2,273,694						1,690,861

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, 2022 and thereafter are as follows:

(In thousands)			Debt Maturities
2023			$	223,130
2024			1,537,367
2025			566,124
2026			404,486
2027			1,265,349
Thereafter			42,415

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