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Consolidation Of Variable Interest Entities (Estimated Maximum Exposure To Loss) (Details) (USD $)
In Thousands, unless otherwise specified
May 31, 2012
Nov. 30, 2011
Variable Interest Entity [Line Items]    
Investments in Unconsolidated VIEs $ 194,939 $ 182,593
Lennar's Maximum Exposure to Loss 226,039 218,614
Lennar Homebuilding [Member]
   
Variable Interest Entity [Line Items]    
Investments in Unconsolidated VIEs 95,094 [1] 94,517 [1]
Lennar's Maximum Exposure to Loss 120,569 [1] 123,038 [1]
Rialto Investments [Member]
   
Variable Interest Entity [Line Items]    
Investments in Unconsolidated VIEs 99,845 [2] 88,076 [2]
Lennar's Maximum Exposure to Loss 105,470 [2] 95,576 [2]
Investments held-to-maturity 14,538 [3] 14,096 [3]
Total contributions and investments to unconsolidated entities by Company   67,500
Lennar Financial Services [Member]
   
Variable Interest Entity [Line Items]    
Investments held-to-maturity 48,609 48,860
Recourse Debt [Member] | Lennar Homebuilding [Member]
   
Variable Interest Entity [Line Items]    
Lennar's maximum exposure to loss, recourse debt 25,400 28,300
Alliance Bernstein L.P. Private Investment Program [Member] | Rialto Investments [Member]
   
Variable Interest Entity [Line Items]    
Investment Commitment   75,000
Total contributions and investments to unconsolidated entities by Company $ 69,400 $ 67,500
[1] At both May 31, 2012 and November 30, 2011, the maximum exposure to loss of Lennar Homebuilding’s investments in unconsolidated VIEs is limited to its investment in the unconsolidated VIEs, except with regard to $25.4 million and $28.3 million, respectively, of recourse debt of one of the unconsolidated VIEs, which is included in the Company’s maximum recourse related to Lennar Homebuilding unconsolidated entities.
[2] For Rialto’s investment in unconsolidated VIEs, the Company made a $75 million commitment to fund capital in the AB PPIP fund. As of May 31, 2012, the Company had contributed $69.4 million of the $75.0 million commitment, and it cannot walk away from its remaining commitment to fund capital. As of November 30, 2011, the Company had contributed $67.5 million of the $75.0 million commitment, and it cannot walk away from its remaining commitment to fund capital. Therefore, as of May 31, 2012 and November 30, 2011, the maximum exposure to loss for Rialto’s unconsolidated VIEs was higher than the carrying amount of its investments. In addition, at May 31, 2012 and November 30, 2011, investments in unconsolidated VIEs and Lennar’s maximum exposure to loss include $14.5 million and $14.1 million, respectively, related to Rialto’s investments held-to-maturity.
[3] 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.