Leases (Tables)

12 Months Ended

Nov. 30, 2021

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,
	2021			2020
Lease right-of-use assets (a)	$	27,693		$	36,270
Lease liabilities (b)	29,481			38,000
Weighted-average remaining lease term	3.8 years			4.5 years
Weighted-average discount rate (incremental borrowing rate)	5.1		%	5.1		%

(a)Represents lease right-of-use assets within our homebuilding operations and financial services operations of $27.5 million and $.2 million, respectively, at November 30, 2021, and $36.0 million and $.3 million, respectively, at November 30, 2020.

(b)Represents lease liabilities within our homebuilding operations and financial services operations of $29.3 million and $.2 million, respectively, at November 30, 2021, and $37.7 million and $.3 million, respectively, at November 30, 2020.

The following table presents additional information about our leases (in thousands):

	Years Ended November 30,
	2021		2020
Lease right-of-use assets obtained in exchange for new lease liabilities	$	1,526	$	14,229
Cash payments on lease liabilities	11,613		11,243

Schedule of Future Minimum Lease Payments

As of November 30, 2021, the future minimum lease payments required under our leases are as follows (in thousands):

Years Ending November 30,
2022	$	10,560
2023	8,292
2024	6,149
2025	4,508
2026	1,182
Thereafter	1,930
Total lease payments	32,621
Less: Interest	(3,140)
Present value of lease liabilities	$	29,481