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Leases (Tables) | 12 Months Ended
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Nov. 30, 2021
Leases [Abstract] |
Schedule of Lease Information | 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):
|  | November 30,
|  | 2021 |  | 2020
Lease right-of-use assets (a) |  | $ | 27,693 |  |  | $ | 36,270 |
Lease liabilities (b) |  | 29,481 |  |  | 38,000 |
Weighted-average remaining lease term |  | 3.8 years |  | 4.5 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 $27.5 million and $.2 million, respectively, at November 30, 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 $29.3 million and $.2 million, respectively, at November 30, 2021, and $37.7 million and $.3 million, respectively, at November 30, 2020. The following table presents additional information about our leases (in thousands):
| Years Ended November 30,
| 2021 |  | 2020
Lease right-of-use assets obtained in exchange for new lease liabilities | $ | 1,526 |  |  | $ | 14,229 |
Cash payments on lease liabilities | 11,613 |  |  | 11,243 |
Schedule of Future Minimum Lease Payments | As of November 30, 2021, the future minimum lease payments required under our leases are as follows (in thousands):
Years Ending November 30, |  |
2022 |  | $ | 10,560 |
2023 |  | 8,292 |
2024 |  | 6,149 |
2025 |  | 4,508 |
2026 |  | 1,182 |
Thereafter |  | 1,930 |
Total lease payments |  | 32,621 |
Less: Interest |  | (3,140) |
Present value of lease liabilities |  | $ | 29,481 |

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- Definition 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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