v3.25.2
Homebuilding Senior Notes and Other Debts Payable (Tables)
 6 Months Ended
May 31, 2025
Debt Disclosure [Abstract]  
Schedule of Senior Notes and Other Debts Payable
(Dollars in thousands)At May 31, 2025At November 30, 2024
Unsecured revolving credit facility$400,000 — 
5.25% senior notes due 2026
401,216 401,824 
5.00% senior notes due 2027
350,782 350,974 
4.75% senior notes due 2027
698,555 698,266 
5.20% senior notes due 2030
693,540 — 
4.75% senior notes due 2025
— 499,779 
Mortgage notes on land and other debt247,894 307,440 
$2,791,987 2,258,283 
Schedule of Letter of Credit Facilities
At May 31, 2025, 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 AmountUncommitted AmountTotal
Residential facilities maturing:
June 2025 (1)$560,000 — 560,000 
August 2025325,000 325,000 650,000 
October 202550,000 100,000 150,000 
May 2026250,000 250,000 500,000 
December 2026375,000 — 375,000 
Total residential facilities$1,560,000 675,000 2,235,000 
LMF commercial facilities maturing:
December 2025200,000 — 200,000 
January 2026100,000 — 100,000 
Total LMF commercial facilities$300,000 — 300,000 
Total$2,535,000 
(1)Subsequent to May 31, 2025, the maturity date was extended to September 2025.
Borrowings and collateral under the facilities were as follows:
(In thousands)May 31, 2025November 30, 2024
Borrowings under residential facilities$1,211,428 1,776,045 
Collateral under residential facilities1,261,797 1,837,833 
Borrowings under LMF Commercial facilities80,368 28,747 
The maximum available borrowings on the Credit Facility were as follows:
(In thousands)At May 31, 2025
Commitments - maturing in May 2027$225,000 
Commitments - maturing in November 20292,800,000 
Total commitments$3,025,000 
Accordion feature475,000 
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, 2025At November 30, 2024
Performance letters of credit$1,843,332 1,668,061 
Financial letters of credit909,960 745,578 
Surety bonds5,453,277 5,140,432 
Anticipated future costs primarily for site improvements related to performance surety bonds3,025,462 2,766,088