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Product Warranty
 9 Months Ended
Aug. 31, 2017
Product Warranties Disclosures [Abstract]  
Product Warranty
Product Warranty
Warranty and similar reserves for homes are established at an amount estimated to be adequate to cover potential costs for materials and labor with regard to warranty-type claims expected to be incurred subsequent to the delivery of a home. Reserves are determined based on historical data and trends with respect to similar product types and geographical areas. The Company regularly monitors the warranty reserve and makes adjustments to its pre-existing warranties in order to reflect changes in trends and historical data as information becomes available. Warranty reserves are included in Lennar Homebuilding other liabilities in the condensed consolidated balance sheets. The activity in the Company’s warranty reserve was as follows:
 
Three Months Ended
 
Nine Months Ended
 
August 31,
 
August 31,
(In thousands)
2017
 
2016
 
2017
 
2016
Warranty reserve, beginning of period
$
151,833

 
127,159

 
135,403

 
130,853

Warranties issued
28,795

 
25,382

 
78,945

 
67,952

Adjustments to pre-existing warranties from changes in estimates (1)
4,436

 
4,982

 
14,769

 
4,247

Warranties assumed related to the WCI acquisition
—

 
—

 
6,345

 
—

Payments
(25,758
)
 
(23,984
)
 
(76,156
)
 
(69,513
)
Warranty reserve, end of period
$
159,306

 
133,539

 
159,306

 
133,539


(1)
The adjustments to pre-existing warranties from changes in estimates during the three and nine months ended August 31, 2017 and 2016 primarily related to specific claims related to certain of the Company's homebuilding communities and other adjustments.