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Accrued Expenses and Other Liabilities (Tables)

6 Months Ended

May 31, 2025

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Liabilities

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

			May 31, 2025						November 30, 2024
Self-insurance and other legal liabilities			$	333,844					$	315,851
Employee compensation and related benefits			128,778						182,460
Warranty liability			97,658						96,026
Inventory-related obligations (a)			49,604						44,408
Customer deposits			44,296						44,029
Accrued interest payable			29,180						28,806
Lease liabilities			23,396						20,859
Real estate and business taxes			10,968						17,056
Federal and state taxes payable			6,461						—
Other			47,655						46,766
Total			$	771,840					$	796,261

(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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