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Leases | 6 Months Ended
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May 31, 2025
Leases [Abstract] |
Leases | Leases We lease certain property and equipment for use in our operations. We recognize lease expense for these leases generally on a straight-line basis over the lease term and combine lease and non-lease components for all leases. Lease right-of-use assets and lease liabilities are recorded in our consolidated balance sheets for leases with an expected term at the commencement date of more than 12 months. Lease expense is included in selling, general and administrative expenses in our consolidated statements of operations and includes costs for leases with terms of more than 12 months as well as short-term leases with terms of 12 months or less. Our total lease expense for the three months ended May 31, 2025 and 2024 was $5.1 million and $5.2 million, respectively, and included short-term lease costs of $1.8 million and $1.9 million, respectively. For the six months ended May 31, 2025 and 2024, our total lease expense was $9.9 million and $10.3 million, respectively, and included short-term lease costs of $3.3 million and $3.7 million, respectively. Variable lease costs and external sublease income for the three-month and six-month periods ended May 31, 2025 and 2024 were immaterial. The following table presents our lease right-of-use assets and lease liabilities (in thousands):
| May 31, 2025 |  | November 30, 2024
Lease right-of-use assets | $ | 20,650 |  |  | $ | 18,734 |
Lease liabilities | 23,431 |  |  | 20,887 |
Lease right-of-use assets and lease liabilities are predominately within our homebuilding operations, with nominal amounts in our financial services operations.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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