Long-Term Debt (Tables)

12 Months Ended

Nov. 30, 2022

Debt Disclosure [Abstract]

Summary of Long-Term Debt

The following summarizes our long-term debt carrying values (including unamortized discounts and premiums, valuation adjustments and debt issuance costs, where applicable) (in thousands):

			November 30,
	Maturity	Effective Interest Rate	2022		2021
Unsecured long-term debt
5.500% Senior Notes	October 18, 2023	5.47%	$	393,048	$	440,120
1.000% Euro Medium Term Notes	July 19, 2024	1.00%	519,970		564,985
4.500% Callable Note due 2025	July 22, 2025	4.84%	6,153		—
5.000% Callable Note due 2026	March 26, 2026	5.52%	8,554		—
4.850% Senior Notes (1)	January 15, 2027	6.29%	703,533		775,550
6.450% Senior Debentures	June 8, 2027	5.46%	363,915		366,556
5.000% Callable Note due 2027	June 16, 2027	5.22%	24,784		—
5.000% Callable Note due 2028	February 17, 2028	5.29%	9,888		—
4.150% Senior Notes	January 23, 2030	4.26%	991,518		990,525
2.625% Senior Debentures (1)	October 15, 2031	3.90%	911,777		988,059
2.750% Senior Debentures (1)	October 15, 2032	5.67%	392,162		460,724
6.250% Senior Notes	January 15, 2036	6.03%	497,681		505,267
6.500% Senior Notes	January 20, 2043	6.09%	409,472		409,926
6.625% Senior Notes	October 23, 2043	6.61%	246,954		246,888
Floating Rate Senior Notes	October 29, 2071	3.72%	61,715		61,703
Unsecured Revolving Credit Facility	August 3, 2023	5.29%	349,578		348,951
Structured notes (2)	Various	Various	1,583,828		1,843,598
Total unsecured long-term debt			7,474,530		8,002,852
Secured long-term debt
HomeFed EB-5 Program debt			209,060		203,132
HomeFed construction loans			56,965		45,581
Secured Credit Facilities			933,531		774,180
Secured Bank Loan			100,000		100,000
Total long-term debt (3)			$	8,774,086	$	9,125,745

(1)The carrying values of these senior notes include net gains of $219.1 million and $58.5 million during the years ended November 30, 2022 and 2021, respectively, associated with interest rate swaps based on designation as fair value hedges. See Note 2, Summary of Significant Accounting Policies, and Note 5, Derivative Financial Instruments, for further information.

(2)These structured notes contain various interest rate payment terms and are accounted for at fair value, with changes in fair value resulting from a change in the instrument-specific credit risk presented in other comprehensive income and changes in fair value resulting from non-credit components recognized in Principal transactions revenues. A weighted average coupon rate is not meaningful, as all of the structured notes are carried at fair value.

(3)The Total Long-term debt has a fair value of $8.46 billion and $9.85 billion at November 30, 2022 and 2021, respectively, which would be classified as Level 2 and Level 3 in the fair value hierarchy.