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