Leases (Tables)

12 Months Ended

Nov. 30, 2022

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,
	2022			2021
Lease right-of-use assets (a)	$	25,545		$	27,693
Lease liabilities (b)	27,580			29,481
Weighted-average remaining lease term	3.5 years			3.8 years
Weighted-average discount rate (incremental borrowing rate)	5.0		%	5.1		%

(a)Represents lease right-of-use assets within our homebuilding operations and financial services operations of $25.5 million and $.1 million, respectively, at November 30, 2022, and $27.5 million and $.2 million, respectively, at November 30, 2021.

(b)Represents lease liabilities within our homebuilding operations and financial services operations of $27.5 million and $.1 million, respectively, at November 30, 2022, and $29.3 million and $.2 million, respectively, at November 30, 2021.

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

	Years Ended November 30,
	2022		2021
Lease right-of-use assets obtained in exchange for new lease liabilities	$	3,941	$	1,526
Cash payments on lease liabilities	11,169		11,613

Schedule of Future Minimum Lease Payments

As of November 30, 2022, the future minimum lease payments required under our leases are as follows (in thousands):

Years Ending November 30,
2023	$	10,589
2024	8,235
2025	6,159
2026	2,296
2027	1,761
Thereafter	1,122
Total lease payments	30,162
Less: Interest	(2,582)
Present value of lease liabilities	$	27,580