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Commitments and Contingencies (Tables)

3 Months Ended

Feb. 28, 2025

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 Ended
(In thousands)			February 28, 2025						February 29, 2024
Warranty reserve, beginning of the period			$	446,240					414,796
Warranties issued			60,468						61,776
Adjustments to pre-existing warranties from changes in estimates			2,562						(2,904)
Payments			(80,344)						(68,110)
Warranty reserve, end of period			$	428,926					405,558

(1)The adjustments to pre-existing warranties from changes in estimates during the three months ended February 28, 2025 and February 29, 2024 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)			At February 2025						At November 30, 2024
Right-of-use assets			$	270,683					275,248
Lease liabilities			256,082						262,119
Weighted-average remaining lease term (in years)			4.8						4.7
Weighted-average discount rate			5.1%						5.0%

Lease, Cost

The Company's rental expense on lease liabilities were as follows:

			Three Months Ended
(In thousands)			February 28, 2025						February 29, 2024
Rental expense			$	51,504					26,217

Future Minimum Payments Under Noncancellable Leases

Future minimum payments under the noncancellable leases in effect at February 28, 2025 were as follows:

(In thousands)			Lease Payments
2025			$	77,685
2026			66,473
2027			40,978
2028			31,228
2029 and thereafter			71,552
Total future minimum lease payments (1)			$	287,916
Less: Interest (2)			31,834
Present value of lease liabilities (2)			$	256,082

(1)Total future minimum lease payments exclude variable lease costs of $27.0 million and short-term lease costs of $2.6 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. As of February 28, 2025, the Company recognized the lease liabilities on its condensed consolidated balance sheets within accounts payable and other liabilities of the respective segments.

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

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-Topic 460
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