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Investments in Unconsolidated Joint Ventures (Tables)
 12 Months Ended
Nov. 30, 2024
Homebuilding  
Schedule of Equity Method Investments [Line Items]  
Schedule of Statements of operations of unconsolidated joint ventures The following table
presents combined condensed information from the statements of operations for our homebuilding unconsolidated joint
ventures (in thousands):
 
Years Ended November 30,
 
2024
2023
2022
Revenues
$65,866
$2,871
$5,251
Construction and land costs
(48,627)
(1,111)
(3,875)
Other expenses, net
(5,033)
(2,907)
(2,935)
Income (loss)
$12,206
$(1,147)
$(1,559)
Schedule of Balance sheets of unconsolidated joint ventures The
following table presents combined condensed balance sheet information for our homebuilding unconsolidated joint ventures (in
thousands):
 
November 30,
 
2024
2023
Assets
Cash
$18,869
$16,260
Receivables
2,918
3,437
Inventories
158,322
152,456
Other assets
1,052
679
Total assets
$181,161
$172,832
Liabilities and equity
Accounts payable and other liabilities
$8,091
$9,632
Notes payable (a)
47,300
53,386
Equity
125,770
109,814
Total liabilities and equity
$181,161
$172,832
(a)As of both November 30, 2024 and 2023, the unconsolidated joint venture in California that delivered homes in 2024 had
borrowings outstanding under a revolving line of credit it entered into with a third-party lender in April 2022 to finance its
land acquisition, development and construction activities.  In April 2024, the revolving line of credit was amended,
increasing the aggregate commitment to $70.0 million from $62.0 million, with the amount of all advances through
October 2024 not to exceed $80.0 million.  Principal repayments are made as homes are delivered, which began in May
2024.  Pursuant to the amendment, the revolving line of credit converted to a term loan and the aggregate commitment was
reduced to $55.0 million effective October 31, 2024, and will be reduced to $25.0 million by April 30, 2025.  Borrowings
under this term loan are secured by the underlying property and related project assets.  This term loan is scheduled to
mature on April 19, 2026, unless extended or terminated pursuant to its applicable terms.  None of our other
unconsolidated joint ventures had outstanding debt at November 30, 2024 or 2023.
Financial service  
Schedule of Equity Method Investments [Line Items]  
Schedule of Statements of operations of unconsolidated joint ventures The following table presents combined condensed information from the statements of operations for
our financial services unconsolidated joint ventures, mostly comprised of KBHS’s activities (in thousands):
 
Years Ended November 30,
 
2024
2023
2022
Revenues
$129,516
$100,785
$115,173
Expenses
(75,165)
(69,390)
(73,573)
Income
$54,351
$31,395
$41,600
Schedule of Balance sheets of unconsolidated joint ventures The following table presents combined condensed balance sheet information for our financial services unconsolidated joint
venture (in thousands):
November 30,
2024
2023
Assets
Cash and cash equivalents (a)
$31,702
$29,163
Mortgage loans held for sale
122,828
164,252
Other assets
22,815
18,380
Total assets
$177,345
$211,795
Liabilities and equity
Accounts payable and other liabilities
$15,398
$13,763
Funding facilities
117,953
159,324
Equity
43,994
38,708
Total liabilities and equity
$177,345
$211,795