XML 43 R26.htm IDEA: XBRL DOCUMENT
v3.25.1

Homebuilding Senior Notes and Other Debts Payable (Tables) | 3 Months Ended
--- | ---
Feb. 28, 2025
Debt Disclosure [Abstract] |
Schedule of Senior Notes and Other Debts Payable |
(Dollars in thousands) | February 28, 2025 |  | November 30, 2024
4.75% senior notes due 2025 | $ | 499,890 |  |  | 499,779 |
5.25% senior notes due 2026 | 401,520 |  |  | 401,824 |
5.00% senior notes due 2027 | 350,878 |  |  | 350,974 |
4.75% senior notes due 2027 | 698,411 |  |  | 698,266 |
Mortgage notes on land and other debt | 260,573 |  |  | 307,440 |
| $ | 2,211,272 |  |  | 2,258,283 |
Schedule of Letter of Credit Facilities | At February 28, 2025, 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: |  |  |  |  |
April 2025 | $ | 250,000 |  |  | 250,000 |  |  | 500,000 |
June 2025 | 560,000 |  |  | — |  |  | 560,000 |
August 2025 | 325,000 |  |  | 325,000 |  |  | 650,000 |
October 2025 | 50,000 |  |  | 100,000 |  |  | 150,000 |
December 2026 | 375,000 |  |  | — |  |  | 375,000 |
Total residential facilities | $ | 1,560,000 |  |  | 675,000 |  |  | 2,235,000 |
LMF commercial facilities maturing: |  |  |  |  |
December 2025 | 200,000 |  |  | — |  |  | 200,000 |
January 2026 | 100,000 |  |  | — |  |  | 100,000 |
Total LMF commercial facilities | $ | 300,000 |  |  | — |  |  | 300,000 |
Total |  |  |  |  | $ | 2,535,000 |
Borrowings and collateral under the facilities were as follows:
(In thousands) | February 28, 2025 |  | November 30, 2024
Borrowings under the residential facilities | $ | 1,235,008 |  |  | 1,776,045 |
Collateral under the residential facilities | 1,286,848 |  |  | 1,837,833 |
Borrowings under the LMF Commercial facilities | 37,465 |  |  | 28,747 |
The maximum available borrowings on the Credit Facility were as follows:
(In thousands) |  | At February 28, 2025
Commitments - maturing in May 2027 |  | $ | 225,000 |
Commitments - maturing in November 2029 |  | 2,800,000 |
Total commitments |  | $ | 3,025,000 |
Accordion feature |  | 475,000 |
Total maximum borrowings capacity |  | $ | 3,500,000 |
The Company's outstanding letters of credit and surety bonds are disclosed below:
(In thousands) |  | February 28, 2025 |  | November 30, 2024
Performance letters of credit |  | $ | 1,748,316 |  |  | 1,668,061 |
Financial letters of credit |  | 924,248 |  |  | 745,578 |
Surety bonds |  | 5,257,345 |  |  | 5,140,432 |
Anticipated future costs primarily for site improvements related to performance surety bonds |  | 2,875,118 |  |  | 2,766,088 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration