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Homebuilding Senior Notes and Other Debts Payable (Tables) | 3 Months Ended
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Feb. 29, 2024
Debt Disclosure [Abstract] |
Schedule of Senior Notes and Other Debts Payable |
(Dollars in thousands) | February 29, 2024 |  | November 30, 2023
4.50% senior notes due 2024 | $ | 453,792 |  |  | 453,682 |
4.75% senior notes due 2025 | 499,447 |  |  | 499,336 |
5.25% senior notes due 2026 | 402,737 |  |  | 403,040 |
5.00% senior notes due 2027 | 351,261 |  |  | 351,357 |
4.75% senior notes due 2027 | 797,513 |  |  | 797,347 |
Mortgage notes on land and other debt | 325,582 |  |  | 311,720 |
| $ | 2,830,332 |  |  | 2,816,482 |
Schedule of Letter of Credit Facilities | At February 29, 2024, the Financial Services segment had warehouse facilities which were all 364-day repurchase facilities and were used to fund residential mortgages or commercial mortgages for LMF Commercial as follows:
| Maximum Aggregate Commitment |  |
(In thousands) | Committed Amount |  | Uncommitted Amount |  | Total
Residential facilities maturing: |  |  |  |  |
March 2024 (1) | $ | 500,000 |  |  | — |  |  | 500,000 |
April 2024 | 250,000 |  |  | 250,000 |  |  | 500,000 |
May 2024 | 600,000 |  |  | — |  |  | 600,000 |
June 2024 | 100,000 |  |  | 100,000 |  |  | 200,000 |
September 2024 | 100,000 |  |  | 100,000 |  |  | 200,000 |
Total residential facilities | $ | 1,550,000 |  |  | 450,000 |  |  | 2,000,000 |
LMF commercial facilities maturing: |  |  |  |  |
December 2024 | 200,000 |  |  | — |  |  | 200,000 |
January 2025 | 100,000 |  |  | — |  |  | 100,000 |
Total LMF commercial facilities | $ | 300,000 |  |  | — |  |  | 300,000 |
Total |  |  |  |  | $ | 2,300,000 |
(1)Subsequent to February 29, 2024, the maturity date was extended to June 2024. Borrowings and collateral under the facilities were as follows:
(In thousands) | February 29, 2024 |  | November 30, 2023
Borrowings under the residential facilities | $ | 1,344,468 |  |  | 2,020,187 |
Collateral under the residential facilities | 1,395,837 |  |  | 2,097,020 |
Borrowings under the LMF Commercial facilities | 89,555 |  |  | 12,525 |
The maximum available borrowings on the Company's unsecured revolving credit facility (the “Credit Facility”) were as follows:
(In thousands) |  | February 29, 2024
Commitments - maturing in April 2024 |  | $ | 350,000 |
Commitments - maturing in May 2027 |  | 2,225,000 |
Total commitments |  | $ | 2,575,000 |
Accordion feature |  | 425,000 |
Total maximum borrowings capacity |  | $ | 3,000,000 |
The Company's outstanding letters of credit and surety bonds are disclosed below:
(In thousands) |  | February 29, 2024 |  | November 30, 2023
Performance letters of credit |  | $ | 1,526,220 |  |  | 1,404,541 |
Financial letters of credit |  | 476,545 |  |  | 417,976 |
Surety bonds |  | 4,596,432 |  |  | 4,508,428 |
Anticipated future costs primarily for site improvements related to performance surety bonds |  | 2,588,531 |  |  | 2,499,680 |

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