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Commitments and Contingencies (Tables)
 6 Months Ended
May 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Product Warranty Reserve The activity in the Company’s warranty reserve, which is included in Homebuilding other liabilities, was as follows:
Three Months EndedSix Months Ended
May 31,May 31,
(In thousands)2023202220232022
Warranty reserve, beginning of the period$403,334 374,146 418,017 377,021 
Warranties issued67,221 67,815 120,900 117,007 
Adjustments to pre-existing warranties from changes in estimates (1)14,246 998 10,188 5,722 
Payments(69,647)(64,969)(133,951)(121,760)
Warranty reserve, end of period$415,154 377,990 415,154 377,990 
(1)The adjustments to pre-existing warranties from changes in estimates during the three and six months ended May 31, 2023 and 2022 primarily related to specific claims in certain of the Company's homebuilding communities and other adjustments.
Additional Information About Leases The following table includes additional information about the Company's leases:
(Dollars in thousands)May 31, 2023November 30, 2022
Right-of-use assets$138,746 149,966 
Lease liabilities147,222 158,832 
Weighted-average remaining lease term (in years)7.77.9
Weighted-average discount rate3.1%3.0%
Future Minimum Payments Under Noncancellable Leases
Future minimum payments under the noncancellable leases in effect at May 31, 2023 were as follows:
(In thousands)Lease Payments
2023$17,412 
202429,701 
202525,185 
202619,571 
202716,366 
Thereafter56,958 
Total future minimum lease payments (1)$165,193 
Less: Interest (2)17,971 
Present value of lease liabilities (2)$147,222 
(1)Total future minimum lease payments exclude variable lease costs of $22.7 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. 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 on lease liabilities were as follows:
Six Months Ended
May 31,
(In thousands)20232022
Rental expense$52,998 50,698