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Accrued Expenses and Other Liabilities (Tables)

9 Months Ended

Aug. 31, 2024

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following (in thousands):

			August 31, 2024						November 30, 2023
Self-insurance and other legal liabilities			$	294,274					$	269,735
Employee compensation and related benefits			157,722						171,408
Warranty liability			93,670						98,000
Customer deposits			56,988						58,910
Inventory-related obligations (a)			46,360						41,525
Lease liabilities			21,718						26,531
Accrued interest payable			17,392						29,391
Real estate and business taxes			16,966						15,169
Federal and state taxes payable			4,842						1,851
Other			47,996						45,707
Total			$	757,928					$	758,227

(a)Represents liabilities for financing arrangements discussed in Note 8 – Variable Interest Entities, as well as liabilities for fixed or determinable amounts associated with tax increment financing entity (“TIFE”) assessments. As homes are delivered, our obligation to pay the remaining TIFE assessments associated with each underlying lot is transferred to the homebuyer. As such, these assessment obligations will be paid by us only to the extent we do not deliver homes on applicable lots before the related TIFE obligations mature.

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Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.

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