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Financial Instruments (Fair Value Assets Measured On Nonrecurring Basis) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
May 31, 2012
May 31, 2011
May 31, 2012
May 31, 2011
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties $ (348) $ (228) $ (348) $ (281)
Total Gains (Losses) on Investments in unconsolidated entities (7) (150) (18) (8,412)
Discount rate for impairment     20.00%  
Lennar Homebuilding [Member]
       
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Total Gains (Losses) on Investments in unconsolidated entities     (8,400)  
Finished homes and construction in progress carrying value before impairments 3,617 6,046 7,190 15,190
Land And Land Under Development Carrying Value Before Impairments 13,650   13,650  
Equity method investments carrying value before impairment   29,900   38,623
Lennar Homebuilding [Member] | Fair Value, Inputs, Level 3 [Member]
       
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Finished homes and construction in progress, Fair Value 1,213 [1] 2,718 [2] 2,761 [3] 7,050 [3]
Land And Land Under Development Fair Value 13,318 [4]   13,318 [5]  
Investments in unconsolidated entities, Fair Value   29,682 [6]   30,211 [7]
Total Gains (Losses) on Finished homes and construction in process (2,404) [1] (3,328) [2] (4,429) [3] (8,140) [8]
Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties (332) [4]   (332) [5]  
Total Gains (Losses) on Investments in unconsolidated entities   (150) [6]   (8,412) [7]
Rialto Investments [Member]
       
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
REO held-for-sale carrying value before gains 1,500 77,000 2,000 245,700
REO held-for-sale carrying value before impairments 2,600   14,100  
REO held-and-used carrying value before gains 64,200 1,000 105,400 8,100
REO held-and-used carrying value before impairments 3,300   14,000  
Rialto Investments [Member] | Fair Value, Inputs, Level 3 [Member]
       
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
REO - held-for-sale, Fair Value 2,443 [9] 94,568 [10] 13,866 [11] 280,209 [12]
REO - held-and-used, net, Fair Value 66,085 [13] 1,391 [14] 120,373 [15] 8,734 [16]
Total Gains (Losses) on REO held-for-sale (1,726) [9] 17,550 [10] (2,188) [11] 34,490 [12]
Total Gains (Losses) on REO held-and-used (1,458) [13] 381 [14] 955 [15] 550 [16]
REO held-for-sale fair value after gains 200   1,400  
Gains (Losses) on REO held-for-sale (1,300)   (600)  
REO held-for-sale fair value after impairments 2,200   12,500  
REO held-for-sale, impairments 400   1,600  
REO held-and-used fair value after gains 63,400   109,700  
Gains (Losses) on REO held-and-used (800)   4,300  
REO held-and-used fair value after impairments 2,600   10,700  
Real Estate Held and Used, Impairments $ 700   $ 3,300  
[1] Finished homes and construction in progress with an aggregate carrying value of $3.6 million were written down to their fair value of $1.2 million, resulting in valuation adjustments of $2.4 million, which were included in Lennar Homebuilding costs and expenses in the Company’s statement of operations for the three months ended May 31, 2012.
[2] Finished homes and construction in progress with an aggregate carrying value of $6.0 million were written down to their fair value of $2.7 million, resulting in valuation adjustments of $3.3 million, which were included in Lennar Homebuilding costs and expenses in the Company’s statement of operations for the three months ended May 31, 2011.
[3] Finished homes and construction in progress with an aggregate carrying value of $7.2 million were written down to their fair value of $2.8 million, resulting in valuation adjustments of $4.4 million, which were included in Lennar Homebuilding costs and expenses in the Company’s statement of operations for the six months ended May 31, 2012.
[4] Land and land under development with an aggregate carrying value of $13.6 million were written down to their fair value of $13.3 million, resulting in valuation adjustments of $0.3 million, which were included in Lennar Homebuilding costs and expenses in the Company’s statement of operations for the three months ended May 31, 2012.
[5] Land and land under development with an aggregate carrying value of $13.6 million were written down to their fair value of $13.3 million, resulting in valuation adjustments of ($0.3) million, which were included in Lennar Homebuilding costs and expenses in the Company’s statement of operations for the six months ended May 31, 2012.
[6] Lennar Homebuilding investments in unconsolidated entities with an aggregate carrying value of $29.9 million were written down to their fair value of $29.7 million, resulting in valuation adjustments of $0.2 million, which were included in Lennar Homebuilding other income, net in the Company’s statement of operations for the three months ended May 31, 2011.
[7] Lennar Homebuilding investments in unconsolidated entities with an aggregate carrying value of $38.6 million were written down to their fair value of $30.2 million, resulting in valuation adjustments $8.4 million , which were included in Lennar Homebuilding other income, net in the Company’s statement of operations for the six months ended May 31, 2011.
[8] Finished homes and construction in progress with an aggregate carrying value of $15.2 million were written down to their fair value of $7.1 million, resulting in valuation adjustments of $8.1 million, which were included in Lennar Homebuilding costs and expenses in the Company’s statement of operations for the three months ended May 31, 2011.
[9] REO, held-for-sale, assets are initially recorded at fair value less estimated costs to sell at the time of acquisition through, or in lieu of, loan foreclosure. Upon acquisition, the REO, held-for-sale, had a carrying value of $1.5 million and a fair value of $0.2 million. The fair value of REO, held-for-sale, is based upon the appraised value at the time of foreclosure or management’s best estimate. The losses upon acquisition of REO, held-for-sale, were ($1.3) million. As part of management’s periodic valuations of its REO, held-for-sale, during the three months ended May 31, 2012, REO, held-for-sale, with an aggregate value of $2.6 million were written down to their fair value of $2.2 million, resulting in impairments of $0.4 million. These losses and impairments are included within Rialto Investments other income (expense), net in the Company’s statement of operations for the three months ended May 31, 2012.
[10] REO, held-for-sale, assets are initially recorded at fair value less estimated costs to sell at the time of acquisition through, or in lieu of, loan foreclosure. Upon acquisition, the REO, held-for-sale, had a carrying value of $77.0 million and a fair value of $94.6 million. The fair value of REO, held-for-sale, is based upon the appraised value at the time of foreclosure or management’s best estimate. The gains upon acquisition of REO, held-for-sale, were $17.6 million and are included within Rialto Investments other income (expense), net in the Company’s statement of operations for the three months ended May 31, 2011.
[11] REO, held-for-sale, assets are initially recorded at fair value less estimated costs to sell at the time of acquisition through, or in lieu of, loan foreclosure. Upon acquisition, the REO, held-for-sale, had a carrying value of $2.0 million and a fair value of $1.4 million. The fair value of REO, held-for-sale, is based upon the appraised value at the time of foreclosure or management’s best estimate. The losses upon acquisition of REO, held-for-sale, were ($0.6) million. As part of management’s periodic valuations of its REO, held-for-sale, during the six months ended May 31, 2012, REO, held-for-sale, with an aggregate value of $14.1 million were written down to their fair value of $12.5 million, resulting in impairments of $1.6 million. These losses and impairments are included within Rialto Investments other income (expense), net in the Company’s statement of operations for the six months ended May 31, 2012.
[12] REO, held-for-sale, assets are initially recorded at fair value less estimated costs to sell at the time of acquisition through, or in lieu of, loan foreclosure. Upon acquisition, the REO, held-for-sale, had a carrying value of $245.7 million and a fair value of $280.2 million. The fair value of REO, held-for-sale, is based upon the appraised value at the time of foreclosure or management’s best estimate. The gains upon acquisition of REO, held-for-sale, were $34.5 million and are included within Rialto Investments other income (expense), net in the Company’s statement of operations for the six months ended May 31, 2011.
[13] REO, held-and-used, net, assets are initially recorded at fair value at the time of acquisition through, or in lieu of, loan foreclosure. Upon acquisition, the REO, held-and-used, net, had a carrying value of $64.2 million and a fair value of $63.4 million. The fair value of REO, held-and-used, net, is based upon the appraised value at the time of foreclosure or management’s best estimate. The losses upon acquisition of REO, held-and-used, net, were ($0.8) million. As part of management’s periodic valuations of its REO, held-and-used, net, during the three months ended May 31, 2012, REO, held-and-used, net, with an aggregate value of $3.3 million were written down to their fair value of $2.6 million, resulting in impairments of $0.7 million. These losses and impairments are included within Rialto Investments other income (expense), net in the Company’s statement of operations for the three months ended May 31, 2012.
[14] REO, held-and-used, net, assets are initially recorded at fair value at the time of acquisition through, or in lieu of, loan foreclosure. Upon acquisition, the REO, held-and-used, net, had a carrying value of $1.0 million and a fair value of $1.4 million. The fair value of REO, held-and-used, net, is based upon the appraised value at the time of foreclosure or management’s best estimate. The gains upon acquisition of REO, held-and-used, net, were $0.4 million and are included within Rialto Investments other income (expense), net in the Company’s statement of operations for the three months ended May 31, 2011.
[15] REO, held-and-used, net, assets are initially recorded at fair value at the time of acquisition through, or in lieu of, loan foreclosure. Upon acquisition, the REO, held-and-used, net, had a carrying value of $105.4 million and a fair value of $109.7 million. The fair value of REO, held-and-used, net, is based upon the appraised value at the time of foreclosure or management’s best estimate. The gains upon acquisition of REO, held-and-used, net, were $4.3 million. As part of management’s periodic valuations of its REO, held-and-used, net, during the six months ended May 31, 2012, REO, held-and-used, net, with an aggregate value of $14.0 million were written down to their fair value of $10.7 million, resulting in impairments of $3.3 million. These gains and impairments are included within Rialto Investments other income (expense), net in the Company’s statement of operations for the six months ended May 31, 2012.
[16] REO, held-and-used, net, assets are initially recorded at fair value at the time of acquisition through, or in lieu of, loan foreclosure. Upon acquisition, the REO, held-and-used, net, had a carrying value of $8.1 million and a fair value of $8.7 million. The fair value of REO, held-and-used, net, is based upon the appraised value at the time of foreclosure or management’s best estimate. The gains upon acquisition of REO, held-and-used, net, were $0.6 million and are included within Rialto Investments other income (expense), net in the Company’s statement of operations for the six months ended May 31, 2011.