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Homebuilding Senior Notes and Other Debts Payable (Tables)
 9 Months Ended
Aug. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Senior Notes and Other Debts Payable
(Dollars in thousands)August 31, 2024November 30, 2023
4.75% senior notes due 2025
$499,668 499,336 
5.25% senior notes due 2026
402,128 403,040 
5.00% senior notes due 2027
351,070 351,357 
4.75% senior notes due 2027 (1)
698,287 797,347 
4.50% senior notes due 2024
— 453,682 
Mortgage notes on land and other debt312,103 311,720 
$2,263,256 2,816,482 
(1)During the nine months ended August 31, 2024, the Company repurchased $100 million aggregate principal amount of senior notes due November 2027, through open market repurchases.
Schedule of Letter of Credit Facilities
At August 31, 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 AmountUncommitted AmountTotal
Residential facilities maturing:
September 2024 (1)$100,000 100,000 200,000 
April 2025250,000 250,000 500,000 
June 20251,400,000 — 1,400,000 
August 202575,000 75,000 150,000 
August 2025250,000 250,000 500,000 
Total residential facilities$2,075,000 675,000 2,750,000 
LMF commercial facilities maturing:
December 2024200,000 — 200,000 
January 2025100,000 — 100,000 
Total LMF commercial facilities$300,000 — 300,000 
Total$3,050,000 
(1)Subsequent to August 31, 2024, the maturity date was extended to October 2024.
Borrowings and collateral under the facilities were as follows:
(In thousands)August 31, 2024November 30, 2023
Borrowings under the residential facilities$1,332,897 2,020,187 
Collateral under the residential facilities
1,374,251 2,097,020 
Borrowings under the LMF Commercial facilities
83,884 12,525 
The maximum available borrowings on the Company's unsecured revolving credit facility (the “Credit Facility”) were as follows:
(In thousands)August 31, 2024
Commitments - maturing in May 2027$2,225,000 
Accordion feature425,000 
Total maximum borrowings capacity$2,650,000 
The Company's outstanding letters of credit and surety bonds are disclosed below:
(In thousands)August 31, 2024November 30, 2023
Performance letters of credit$1,606,070 1,404,541 
Financial letters of credit566,598 417,976 
Surety bonds4,989,709 4,508,428 
Anticipated future costs primarily for site improvements related to performance surety bonds2,782,727 2,499,680