XML 33 R23.htm IDEA: XBRL DOCUMENT v3.23.1
Homebuilding Senior Notes and Other Debts Payable (Tables)
 3 Months Ended
Feb. 28, 2023
Debt Disclosure [Abstract]  
Schedule of Senior Notes and Other Debts Payable
(Dollars in thousands)February 28, 2023November 30, 2022
4.875% senior notes due December 2023
$399,369 399,169 
4.50% senior notes due 2024
649,156 648,975 
5.875% senior notes due 2024
432,961 434,128 
4.75% senior notes due 2025
499,003 498,892 
5.25% senior notes due 2026
403,953 404,257 
5.00% senior notes due 2027
351,645 351,741 
4.75% senior notes due 2027
896,446 896,259 
Mortgage notes on land and other debt400,802 413,873 
$4,033,335 4,047,294 
Schedule of Letter of Credit Facilities
At February 28, 2023, the Financial Services warehouse facilities were all 364-day repurchase facilities and were used to fund residential mortgages or commercial mortgages for LMF Commercial as follows:
(In thousands)Maximum Aggregate Commitment
Residential facilities maturing:
May 2023$200,000 
August 2023600,000 
December 2023500,000 
Total - Residential facilities
$1,300,000 
LMF Commercial facilities maturing
July 2023$50,000 
November 2023100,000 
December 2023400,000 
Total - LMF Commercial facilities
$550,000 
Total
$1,850,000 
Borrowings and collateral under the facilities and their prior year predecessors were as follows:
(In thousands)February 28, 2023November 30, 2022
Borrowings under the residential facilities$1,028,283 1,877,411 
Collateral under the residential facilities
1,064,394 1,950,155 
Borrowings under the LMF Commercial facilities
11,397 124,399 
The maximum available borrowings on the Company's unsecured revolving credit facility (the "Credit Facility") were as follows:
(In thousands)February 28, 2023
Commitment - maturing in April 2024$350,000 
Commitment - maturing in May 20272,225,000 
Total commitment$2,575,000 
Accordion feature425,000 
Total maximum borrowings capacity$3,000,000 
The Company's outstanding performance letters of credit and surety bonds are disclosed below:
(In thousands)February 28, 2023November 30, 2022
Performance letters of credit$1,236,516 1,259,033 
Financial letters of credit457,117 503,659 
Surety bonds4,166,287 4,136,715 
Anticipated future costs primarily for site improvements related to performance surety bonds2,288,199 2,273,694