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Homebuilding Senior Notes and Other Debts Payable (Tables)

9 Months Ended

Aug. 31, 2025

Debt Disclosure [Abstract]

Schedule of Senior Notes and Other Debts Payable

(Dollars in thousands)			At August 31, 2025						At November 30, 2024
Unsecured revolving credit facility			$	1,140,000					—
5.25% senior notes due 2026			400,912						401,824
5.00% senior notes due 2027			350,686						350,974
4.75% senior notes due 2027			698,700						698,266
5.20% senior notes due 2030			693,853						—
4.75% senior notes due 2025			—						499,779
Mortgage notes on land and other debt			239,615						307,440
			$	3,523,766					2,258,283

Schedule of Letter of Credit Facilities

At August 31, 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:
September 2025 (1)			$	1,000,000					—						1,000,000
October 2025			100,000						100,000						200,000
March 2026			250,000						250,000						500,000
May 2026			250,000						450,000						700,000
July 2026			100,000						100,000						200,000
December 2026			—						375,000						375,000
Total residential facilities			$	1,700,000					1,275,000						2,975,000
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															$	3,275,000

(1)Subsequent to August 31, 2025, the maturity date was extended to September 2026.

Borrowings and collateral under the facilities were as follows:

(In thousands)			At August 31, 2025						At November 30, 2024
Borrowings under residential facilities			$	1,682,918					1,776,045
Collateral under residential facilities			1,743,688						1,837,833
Borrowings under LMF Commercial facilities			57,313						28,747

The maximum available borrowings on the Credit Facility were as follows:

(In thousands)						At August 31, 2025
Commitments - maturing in May 2027						$	225,000
Commitments - maturing in November 2029						2,900,000
Total commitments						$	3,125,000
Accordion feature						375,000
Total maximum borrowings capacity						$	3,500,000

The Company's outstanding letters of credit and surety bonds are disclosed below:

(In thousands)						At August 31, 2025						At November 30, 2024
Performance letters of credit						$	1,889,234					1,668,061
Financial letters of credit						874,904						745,578
Surety bonds						5,495,538						5,140,432
Anticipated future costs primarily for site improvements related to performance surety bonds						3,075,021						2,766,088

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