Commitments and Contingencies (Tables)

3 Months Ended

Feb. 28, 2023

Commitments and Contingencies Disclosure [Abstract]

Additional Information About Leases

The following table includes additional information about the Company's leases:

(Dollars in thousands)	February 28, 2023		November 30, 2022
Right-of-use assets	$	143,457	149,966
Lease liabilities	152,157		158,832
Weighted-average remaining lease term (in years)	7.8		7.9
Weighted-average discount rate	3.1%		3.0%

Future Minimum Payments Under Noncancellable Leases

Future minimum payments under the noncancellable leases in effect at February 28, 2023 were as follows:

(In thousands)	Lease Payments
2023	$	25,877
2024	28,766
2025	24,298
2026	18,948
2027	16,130
2027 and thereafter	56,957
Total future minimum lease payments (1)	$	170,976
Less: Interest (2)	18,819
Present value of lease liabilities (2)	$	152,157

(1)Total future minimum lease payments exclude variable lease costs of $22.7 million and short-term lease costs of $2.7 million.

(2)The Company's leases do not include a readily determinable implicit rate. As such, the Company has estimated the discount rate for these leases to determine the present value of lease payments at the lease commencement date or as of December 1, 2019, which was the effective date of ASU 2016-02. The Company recognized the lease liabilities on its condensed consolidated balance sheets within accounts payable and other liabilities of the respective segments.

Lease, Cost

The Company's rental expense on lease liabilities were as follows:

	Three Months Ended
	February 28,
(In thousands)	2023		2022
Rental expense	$	26,904	25,641