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Leases (Tables)
9 Months Ended
Aug. 31, 2021
Leases [Abstract]  
Operating Lease, Lease Income [Table Text Block]
The following table presents our lease right-of-use assets, lease liabilities and the weighted average remaining lease term and weighted average discount rate (incremental borrowing rate) used in calculating the lease liabilities (dollars in thousands):
August 31,
2021
November 30,
2020
Lease right-of-use assets (a)$30,112 $36,270 
Lease liabilities (b)32,011 38,000 
Weighted average remaining lease term4.0 years4.5 years
Weighted average discount rate (incremental borrowing rate)5.1 %5.1 %
(a)Represents lease right-of-use assets within our homebuilding operations and financial services operations of $29.9 million and $.2 million, respectively, at August 31, 2021, and $36.0 million and $.3 million, respectively, at November 30, 2020.
(b)Represents lease liabilities within our homebuilding operations and financial services operations of $31.8 million and $.2 million, respectively, at August 31, 2021, and $37.7 million and $.3 million, respectively, at November 30, 2020.
The following table presents additional information about our leases (in thousands):
Three Months Ended August 31,Nine Months Ended August 31,
2021202020212020
Lease right-of-use assets obtained in exchange for new lease liabilities $18$2,977$1,517$9,045
Cash payments on lease liabilities2,9792,8318,6488,468
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
As of August 31, 2021, the future minimum lease payments required under our leases are as follows (in thousands):
Years Ending November 30,
2021$2,962 
202210,549 
20238,280 
20246,139 
20254,503 
Thereafter3,112 
Total lease payments35,545 
Less: Interest(3,534)
Present value of lease liabilities$32,011