XML 31 R52.htm IDEA: XBRL DOCUMENT v2.4.0.6
Rialto Investments Segment (Assets And Liabilities Related To Rialto Segment) (Details) (USD $)
In Thousands, unless otherwise specified
May 31, 2012
Feb. 29, 2012
Nov. 30, 2011
May 31, 2011
Feb. 28, 2011
Nov. 30, 2010
Segment Reporting Information [Line Items]            
Cash and cash equivalents $ 829,382   $ 1,163,604 $ 1,131,454   $ 1,394,135
Total assets 9,351,209 [1]   9,154,671 [1]      
Notes payable 3,469,616   3,362,759      
Total liabilities 5,571,301 [2]   5,851,146 [2]      
Rialto Investments [Member]
           
Segment Reporting Information [Line Items]            
Cash and cash equivalents 92,959 [1]   83,938 [1] 69,649    
Defeasance cash to retire notes payable 138,665 [1]   219,386 [1]      
Loans receivable, net 578,375 [1]   713,354 [1]      
Real estate owned - held-for-sale 113,115 [1] 101,579 143,677 [1] 514,249 431,119 250,286
Real estate owned - held-and-used, net 634,401 [1] 630,570 582,111 [1] 16,467 15,126 7,818
Investments in unconsolidated entities 150,733 [1]   124,712 [1]      
Investments held-to-maturity 14,538 [1]   14,096 [1]      
Other 26,041 [1]   15,874 [1]      
Total assets 1,748,827 [1],[3]   1,897,148 [1],[3]      
Notes payable 594,915 [2]   765,541 [2]      
Other 17,683 [2]   30,579 [2]      
Total liabilities $ 612,598 [2]   $ 796,120 [2]      
[1] Under certain provisions of Accounting Standards Codification (“ASC”) Topic 810, Consolidations, (“ASC 810”) the Company is required to separately disclose on its condensed consolidated balance sheets the assets owned by consolidated variable interest entities (“VIEs”) and liabilities of consolidated VIEs as to which neither Lennar Corporation, or any of its subsidiaries, has any obligations.As of May 31, 2012, total assets include $2,136.9 million related to consolidated VIEs of which $17.1 million is included in Lennar Homebuilding cash and cash equivalents, $1.3 million in Lennar Homebuilding restricted cash, $6.9 million in Lennar Homebuilding receivables, net, $17.0 million in Lennar Homebuilding finished homes and construction in progress, $511.2 million in Lennar Homebuilding land and land under development, $65.5 million in Lennar Homebuilding consolidated inventory not owned, $43.8 million in Lennar Homebuilding investments in unconsolidated entities, $218.9 million in Lennar Homebuilding other assets, $92.3 million in Rialto Investments cash and cash equivalents, $138.7 million in Rialto Investments defeasance cash to retire notes payable, $464.1 million in Rialto Investments loans receivable, net, $91.0 million in Rialto Investments real estate owned, held-for-sale, $460.4 million in Rialto Investments real estate owned, held-and-used, net, $0.6 million in Rialto Investments in unconsolidated entities and $8.1 million in Rialto Investments other assets.As of November 30, 2011, total assets include $2,317.4 million related to consolidated VIEs of which $19.6 million is included in Lennar Homebuilding cash and cash equivalents, $5.3 million in Lennar Homebuilding receivables, net, $0.1 million in Lennar Homebuilding finished homes and construction in progress, $538.2 million in Lennar Homebuilding land and land under development, $71.6 million in Lennar Homebuilding consolidated inventory not owned, $43.4 million in Lennar Homebuilding investments in unconsolidated entities, $219.6 million in Lennar Homebuilding other assets, $80.0 million in Rialto Investments cash and cash equivalents, $219.4 million in Rialto Investments defeasance cash to retire notes payable, $565.6 million in Rialto Investments loans receivable, net, $115.4 million in Rialto Investments real estate owned, held-for-sale, $428.0 million in Rialto Investments real estate owned, held-and-used, net, $0.6 million in Rialto Investments in unconsolidated entities and $10.6 million in Rialto Investments other assets.
[2] As of May 31, 2012, total liabilities include $742.8 million related to consolidated VIEs as to which neither Lennar Corporation, nor any of its subsidiaries, has any obligations, of which $7.6 million is included in Lennar Homebuilding accounts payable, $36.7 million in Lennar Homebuilding liabilities related to consolidated inventory not owned, $171.9 million in Lennar Homebuilding senior notes and other debts payable, $35.3 million in Lennar Homebuilding other liabilities and $491.3 million in Rialto Investments notes payable and other liabilities.As of November 30, 2011, total liabilities include $902.3 million related to consolidated VIEs as to which neither Lennar Corporation, nor any of its subsidiaries, has any obligations of which $12.7 million is included in Lennar Homebuilding accounts payable, $43.6 million in Lennar Homebuilding liabilities related to consolidated inventory not owned, $175.3 million in Lennar Homebuilding senior notes and other debts payable, $16.7 million in Lennar Homebuilding other liabilities and $654.0 million in Rialto Investments notes payable and other liabilities.
[3] (1)Consists primarily of assets of consolidated VIEs (see Note 8).