Consolidated Balance Sheets - USD ($) $ in Thousands		Nov. 30, 2025	Nov. 30, 2024
Assets
Inventories		$ 5,670,802	$ 5,528,020
Property and equipment, net		101,457	90,359
Total assets		6,680,252	6,936,169
Liabilities and stockholders’ equity
Accrued expenses and other liabilities		731,946	796,261
Notes payable		1,692,977	1,691,679
Stockholders’ equity:
Preferred stock — $1.00 par value; 10,000,000 shares authorized; none issued		0	0
Common stock —$1.00 par value; 290,000,000 shares authorized at November 30, 2025 and 2024; 74,477,254 and 74,409,977 shares issued at November 30, 2025 and 2024, respectively		74,477	74,410
Paid-in capital		863,718	862,049
Retained earnings		3,629,638	3,269,423
Accumulated other comprehensive loss		(3,538)	(3,704)
Treasury stock, at cost — 11,303,643 and 2,253,156 shares at November 30, 2025 and 2024, respectively		(663,437)	(141,562)
Total stockholders’ equity		3,900,858	4,060,616
Total liabilities and stockholders’ equity		6,680,252	6,936,169
Homebuilding
Assets
Cash and cash equivalents		228,614	597,973
Receivables		350,636	377,533
Inventories		5,670,802	5,528,020
Investments in unconsolidated joint ventures		72,436	67,020
Property and equipment, net		101,457	90,359
Deferred tax assets, net		88,665	102,421
Other assets		107,833	105,920
Total assets		6,620,443	6,869,246
Liabilities and stockholders’ equity
Accounts payable		351,261	384,894
Accrued expenses and other liabilities		731,946	796,261
Notes payable		1,692,977	1,691,679
Total Homebuilding		2,776,184	2,872,834
Financial service
Assets
Cash and cash equivalents		1,829	1,220
Receivables		5,569	5,407
Investments in unconsolidated joint ventures		13,231	21,997
Other assets	[1]	39,180	38,299
Total assets		59,809	66,923
Liabilities and stockholders’ equity
Financial services		$ 3,210	$ 2,719

[1] Other assets at November 30, 2025 and 2024 included $39.1 million and $38.2 million, respectively, of contract assets for estimated future renewal commissions