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Leases (Tables) | 12 Months Ended
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Nov. 30, 2024
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,
|  | 2024 |  | 2023
Lease right-of-use assets (a) |  | $18,734 |  | $24,773
Lease liabilities (a) |  | 20,887 |  | 26,581
Weighted-average remaining lease term |  | 2.8 years |  | 3.0 years
Weighted-average discount rate (incremental borrowing rate) |  | 4.6% |  | 4.8%
(a)Lease right-of-use assets and lease liabilities are predominantly within our homebuilding operations, with only nominal amounts in our financial services operations. The following table presents additional information about our leases (in thousands):
| Years Ended November 30,
| 2024 |  | 2023
Lease right-of-use assets obtained in exchange for new lease liabilities | $4,780 |  | $9,195
Cash payments on lease liabilities | 12,594 |  | 12,592
Schedule of Future Minimum Lease Payments | As of November 30, 2024, the future minimum lease payments required under our leases are as follows (in thousands):
Years Ending November 30, |  |
2025 |  | $10,635
2026 |  | 4,989
2027 |  | 3,812
2028 |  | 2,379
2029 |  | 514
Thereafter |  | —
Total lease payments |  | 22,329
Less: Interest |  | (1,442)
Present value of lease liabilities |  | $20,887

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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