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Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2025
Nov. 30, 2024
Assets    
Inventories $ 5,913,348 $ 5,528,020
Total assets 7,017,596 6,936,169
Liabilities and stockholders’ equity    
Accrued expenses and other liabilities 771,840 796,261
Notes payable 1,892,941 1,691,679
Stockholders’ equity:    
Common stock — 74,437,477 and 74,409,977 shares issued at May 31, 2025 and November 30, 2024, respectively 74,437 74,410
Paid-in capital 840,296 862,049
Retained earnings 3,450,350 3,269,423
Accumulated other comprehensive loss (3,704) (3,704)
Treasury stock, at cost: 6,387,293 and 2,253,156 shares at May 31, 2025 and November 30, 2024, respectively (370,841) (141,562)
Total stockholders’ equity 3,990,538 4,060,616
Total liabilities and stockholders’ equity 7,017,596 6,936,169
Homebuilding    
Assets    
Cash and cash equivalents 308,861 597,973
Receivables 371,354 377,533
Inventories 5,913,348 5,528,020
Investments in unconsolidated joint ventures 57,597 67,020
Property and equipment, net 95,054 90,359
Deferred tax assets, net 102,421 102,421
Other assets 107,530 105,920
Total assets 6,956,165 6,869,246
Liabilities and stockholders’ equity    
Accounts payable 359,323 384,894
Accrued expenses and other liabilities 771,840 796,261
Notes payable 1,892,941 1,691,679
Total Homebuilding 3,024,104 2,872,834
Financial services    
Assets    
Cash and cash equivalents 2,081 1,220
Receivables 3,380 5,407
Investments in unconsolidated joint ventures 17,632 21,997
Other assets [1] 38,338 38,299
Total assets 61,431 66,923
Liabilities and stockholders’ equity    
Financial services $ 2,954 $ 2,719
[1] Other assets at May 31, 2025 and November 30, 2024 included $38.3 million and $38.2 million, respectively, of contract assets for estimated future renewal commissions.