Homebuilding Senior Notes and Other Debts Payable (Tables)

6 Months Ended

May 31, 2026

Debt Disclosure [Abstract]

Schedule of Senior Notes and Other Debts Payable

(Dollars in thousands)	At May 31, 2026		At November 30, 2025
Unsecured delayed draw term loan facility due 2028	$	1,704,487	1,710,000
5.25% senior notes due 2026 (1)	400,000		400,608
5.00% senior notes due 2027	350,399		350,590
4.75% senior notes due 2027	699,134		698,845
5.20% senior notes due 2030	694,791		694,165
Mortgage notes on land and other debt	198,676		230,478
	$	4,047,487	4,084,686

(1)Subsequent to May 31, 2026, the Company redeemed all of its 5.25% senior notes due June 2026.

Schedule of Letter of Credit Facilities

At May 31, 2026, the Financial Services segment had warehouse facilities which were all 364-day repurchase facilities and were used to fund residential mortgages or commercial mortgages for LMF Commercial as follows:

	Maximum Aggregate Commitment
(In thousands)	Committed Amount		Uncommitted Amount	Total
Residential facilities maturing:
July 2026	$	350,000	350,000	700,000
September 2026	200,000		200,000	400,000
November 2026	100,000		100,000	200,000
December 2026	—		375,000	375,000
March 2027	200,000		300,000	500,000
May 2027	30,000		270,000	300,000
Total residential facilities	$	880,000	1,595,000	2,475,000
LMF commercial facilities maturing:
January 2027	100,000		—	100,000
December 2027	200,000		—	200,000
Total LMF commercial facilities	$	300,000	—	300,000
Total				$	2,775,000

Borrowings and collateral under the facilities were as follows:

(In thousands)	At May 31, 2026		At November 30, 2025
Borrowings under residential facilities	$	1,791,758	1,653,484
Collateral under residential facilities	2,058,429		1,718,338
Borrowings under LMF Commercial facilities	52,240		13,719

The maximum available borrowings on the Company's unsecured revolving credit facility (the "Credit Facility") were as follows:

(In thousands)	At May 31, 2026
Commitments - maturing in May 2027	$	225,000
Commitments - maturing in November 2029	2,900,000
Total commitments	$	3,125,000
Accordion feature	375,000
Total maximum borrowings capacity	$	3,500,000

The Company's outstanding letters of credit and surety bonds are disclosed below:

(In thousands)	At May 31, 2026		At November 30, 2025
Performance letters of credit	$	2,069,635	1,963,643
Financial letters of credit	802,809		926,304
Surety bonds	5,712,218		5,614,807
Anticipated future costs primarily for site improvements related to performance surety bonds	3,276,374		3,056,582