Leases |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases We lease certain property and equipment for use in our operations. We recognize lease expense for these leases generally on a straight-line basis over the lease term and combine lease and non-lease components for all leases. Lease right-of-use assets and lease liabilities are recorded in our consolidated balance sheets for leases with an expected term at the commencement date of more than 12 months. Lease expense is included in selling, general and administrative expenses in our consolidated statements of operations and includes costs for leases with terms of more than 12 months as well as short-term leases with terms of 12 months or less. Our total lease expense was $5.5 million for each of the three-month periods ended August 31, 2026 and 2025, and included short-term lease costs of $2.0 million and $2.1 million, respectively. For the nine months ended August 31, 2026 and 2025, our total lease expense was $16.0 million and $15.4 million, respectively, and included short-term lease costs of $5.6 million and $5.4 million, respectively. Variable lease costs and external sublease income for the three-month and nine-month periods ended August 31, 2026 and 2025 were immaterial. The following table presents our lease right-of-use assets and lease liabilities (in thousands):
Lease right-of-use assets and lease liabilities are predominately within our homebuilding operations, with nominal amounts in our financial services operations.
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