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Commitments and Contingencies (Tables)
 9 Months Ended
Aug. 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 EndedNine Months Ended
August 31,August 31,
(In thousands)2023202220232022
Warranty reserve, beginning of the period$415,154 377,990 418,017 377,021 
Warranties issued75,024 73,697 195,924 190,704 
Adjustments to pre-existing warranties from changes in estimates (1)(8,568)10,301 1,620 16,023 
Payments(80,279)(67,395)(214,230)(189,155)
Warranty reserve, end of period$401,331 394,593 401,331 394,593 
(1)The adjustments to pre-existing warranties from changes in estimates during the three and nine months ended August 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)August 31, 2023November 30, 2022
Right-of-use assets$137,822 149,966 
Lease liabilities146,006 158,832 
Weighted-average remaining lease term (in years)7.67.9
Weighted-average discount rate3.2%3.0%
Future Minimum Payments Under Noncancellable Leases
Future minimum payments under the noncancellable leases in effect at August 31, 2023 were as follows:
(In thousands)Lease Payments
2023$8,491 
202430,400 
202526,485 
202620,905 
202717,471 
Thereafter60,367 
Total future minimum lease payments (1)$164,119 
Less: Interest (2)18,113 
Present value of lease liabilities (2)$146,006 
(1)Total future minimum lease payments exclude variable lease costs of $29.2 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:
Nine Months Ended
August 31,
(In thousands)20232022
Rental expense$78,053 78,244