Leases (Tables)

12 Months Ended

Nov. 30, 2023

Leases [Abstract]

Schedule of Lease Information

The following table presents our lease right-of-use assets, lease liabilities and the weighted-average remaining lease term and weighted-average discount rate (incremental borrowing rate) used in calculating the lease liabilities (dollars in thousands):

	November 30,
	2023			2022
Lease right-of-use assets (a)	$	24,773		$	25,545
Lease liabilities (b)	26,581			27,580
Weighted-average remaining lease term	3.0 years			3.5 years
Weighted-average discount rate (incremental borrowing rate)	4.8		%	5.0		%

(a)Represents lease right-of-use assets within our homebuilding operations and financial services operations of $24.7 million and $.1 million, respectively, at November 30, 2023, and $25.5 million and $.1 million, respectively, at November 30, 2022.

(b)Represents lease liabilities within our homebuilding operations and financial services operations of $26.5 million and $.1 million, respectively, at November 30, 2023, and $27.5 million and $.1 million, respectively, at November 30, 2022.

The following table presents additional information about our leases (in thousands):

	Years Ended November 30,
	2023		2022
Lease right-of-use assets obtained in exchange for new lease liabilities	$	9,195	$	3,941
Cash payments on lease liabilities	12,592		11,169

Schedule of Future Minimum Lease Payments

As of November 30, 2023, the future minimum lease payments required under our leases are as follows (in thousands):

Years Ending November 30,
2024	$	11,917
2025	8,979
2026	3,467
2027	2,425
2028	1,619
Thereafter	213
Total lease payments	28,620
Less: Interest	(2,039)
Present value of lease liabilities	$	26,581