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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Feb. 29, 2016
Nov. 30, 2015
ASSETS    
Cash and cash equivalents $ 720,459 $ 1,158,445
Inventories:    
Total assets [1] 14,195,188 14,419,509
LIABILITIES AND EQUITY    
Senior notes and other debts payable 5,333,981 5,025,130
Total liabilities [2] 8,101,739 8,469,437
Stockholders' equity:    
Preferred stock [2] 0 0
Additional paid-in capital [2] 2,341,502 2,305,560
Retained earnings [2] 3,565,264 3,429,736
Treasury stock, at cost; February 29, 2016 - 857,333 shares of Class A common stock and 1,679,620 shares of Class B common stock; November 30, 2015 - 815,959 shares of Class A common stock and 1,679,620 shares of Class B common stock [2] (107,978) (107,755)
Total stockholders' equity [2] 5,820,114 5,648,944
Noncontrolling interests [2] 273,335 301,128
Total equity [2] 6,093,449 5,950,072
Total liabilities and equity [2] 14,195,188 14,419,509
Lennar Homebuilding [Member]    
ASSETS    
Cash and cash equivalents [1] 510,878 893,408
Restricted cash [1] 3,255 13,505
Receivables, net [1] 61,229 74,538
Inventories:    
Finished homes and construction in progress [1] 4,234,536 3,957,167
Land and land under development [1] 5,113,493 4,724,578
Land under purchase options, recorded [1] 20,290 58,851
Total inventories [1] 9,368,319 8,740,596
Investments in unconsolidated entities [1] 771,401 741,551
Other assets [1] 599,915 609,222
Total assets [1] 11,314,997 11,072,820
LIABILITIES AND EQUITY    
Accounts payable [2] 442,905 475,909
Liabilities related to consolidated inventory not owned [2] 19,854 51,431
Senior notes and other debts payable [2] 5,333,981 5,025,130
Other liabilities [2] 749,138 899,815
Total liabilities [2] 6,545,878 6,452,285
Rialto [Member]    
ASSETS    
Cash and cash equivalents [1] 112,305 150,219
Restricted cash 10,233 15,061
Receivables, net 0 154,948
Inventories:    
Investments in unconsolidated entities [1] 234,039 224,869
Total assets [1] 1,272,004 1,505,500
LIABILITIES AND EQUITY    
Senior notes and other debts payable [2] 609,150 771,728
Other liabilities [2] 47,153 94,496
Total liabilities [2] 656,303 866,224
Lennar Financial Services [Member]    
ASSETS    
Cash and cash equivalents 91,214 106,777
Restricted cash 9,235 13,961
Receivables, net 150,214 242,808
Inventories:    
Other assets 66,900 66,186
Total assets 1,157,079 1,425,837 [1]
LIABILITIES AND EQUITY    
Other liabilities 212,929 225,678
Total liabilities [2] 838,251 1,083,978
Stockholders' equity:    
Accumulated other comprehensive income (loss) [2] (398) 39
Lennar Multifamily [Member]    
ASSETS    
Cash and cash equivalents 6,062 8,041
Inventories:    
Land and land under development 145,917 115,982
Land under purchase options, recorded 5,508 5,508
Investments in unconsolidated entities 257,719 250,876
Other assets 35,902 34,945
Total assets 451,108 415,352 [1]
LIABILITIES AND EQUITY    
Liabilities related to consolidated inventory not owned 4,007 4,007
Total liabilities 61,307 66,950
Class A Common Stock [Member]    
Stockholders' equity:    
Common stock [2] 18,426 18,066
Total equity 18,426 18,066
Class B Common Stock [Member]    
Stockholders' equity:    
Common stock [2] 3,298 3,298
Total equity $ 3,298 $ 3,298
[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 February 29, 2016, total assets include $582.1 million related to consolidated VIEs of which $11.0 million is included in Lennar Homebuilding cash and cash equivalents, $5.8 million in Lennar Homebuilding receivables, net, $5.5 million in Lennar Homebuilding finished homes and construction in progress, $162.8 million in Lennar Homebuilding land and land under development, $20.3 million in Lennar Homebuilding consolidated inventory not owned, $34.8 million in Lennar Homebuilding investments in unconsolidated entities, $22.3 million in Lennar Homebuilding other assets, $307.4 million in Rialto assets and $12.2 million in Lennar Multifamily assets.As of November 30, 2015, total assets include $652.3 million related to consolidated VIEs of which $9.6 million is included in Lennar Homebuilding cash and cash equivalents, $0.5 million in Lennar Homebuilding receivables, net, $3.9 million in Lennar Homebuilding finished homes and construction in progress, $154.2 million in Lennar Homebuilding land and land under development, $58.9 million in Lennar Homebuilding consolidated inventory not owned, $35.8 million in Lennar Homebuilding investments in unconsolidated entities, $22.7 million in Lennar Homebuilding other assets, $355.2 million in Rialto assets and $11.5 million in Lennar Multifamily assets.
[2] As of February 29, 2016, total liabilities include $60.3 million related to consolidated VIEs as to which there was no recourse against the Company, of which $3.0 million is included in Lennar Homebuilding accounts payable, $19.9 million in Lennar Homebuilding liabilities related to consolidated inventory not owned, $21.7 million in Lennar Homebuilding other liabilities, $11.7 million in Rialto liabilities and $4.0 million in Lennar Multifamily liabilities.As of November 30, 2015, total liabilities include $84.4 million related to consolidated VIEs as to which there was no recourse against the Company, of which $2.0 million is included in Lennar Homebuilding accounts payable, $51.4 million in Lennar Homebuilding liabilities related to consolidated inventory not owned, $15.6 million in Lennar Homebuilding other liabilities, $11.3 million in Rialto liabilities and $4.0 million in Lennar Multifamily liabilities.