Consolidated Balance Sheets - USD ($) $ in Thousands		Aug. 31, 2025	Nov. 30, 2024
Assets
Inventories		$ 5,838,816	$ 5,528,020
Total assets		6,985,572	6,936,169
Liabilities and stockholders’ equity
Accrued expenses and other liabilities		770,450	796,261
Notes payable		1,943,582	1,691,679
Stockholders’ equity:
Common stock — 74,451,477 and 74,409,977 shares issued at August 31, 2025 and November 30, 2024, respectively		74,451	74,410
Paid-in capital		848,909	862,049
Retained earnings		3,543,885	3,269,423
Accumulated other comprehensive loss		(3,704)	(3,704)
Treasury stock, at cost — 9,686,792 and 2,253,156 shares at August 31, 2025 and November 30, 2024, respectively		(561,178)	(141,562)
Total stockholders’ equity		3,902,363	4,060,616
Total liabilities and stockholders’ equity		6,985,572	6,936,169
Homebuilding
Assets
Cash and cash equivalents		330,586	597,973
Receivables		386,486	377,533
Inventories		5,838,816	5,528,020
Investments in unconsolidated joint ventures		67,075	67,020
Property and equipment, net		97,530	90,359
Deferred tax assets, net		102,421	102,421
Other assets		102,880	105,920
Total assets		6,925,794	6,869,246
Liabilities and stockholders’ equity
Accounts payable		366,194	384,894
Accrued expenses and other liabilities		770,450	796,261
Notes payable		1,943,582	1,691,679
Total Homebuilding		3,080,226	2,872,834
Financial services
Assets
Cash and cash equivalents		1,712	1,220
Receivables		4,256	5,407
Investments in unconsolidated joint ventures		15,386	21,997
Other assets	[1]	38,424	38,299
Total assets		59,778	66,923
Liabilities and stockholders’ equity
Financial services		$ 2,983	$ 2,719

[1] Other assets at August 31, 2025 and November 30, 2024 included $38.4 million and $38.2 million, respectively, of contract assets for estimated future renewal commissions.