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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
May 31, 2016
Nov. 30, 2015
Total assets [1] $ 14,847,801 $ 14,419,509
Cash and cash equivalents 815,477 1,158,445
Total liabilities [2] $ 8,484,867 $ 8,469,437
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized 300,000,000 300,000,000
Common stock, shares issued 188,740,334 180,658,550
Treasury stock, shares 887,259 815,959
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized 90,000,000 90,000,000
Common stock, shares issued 32,982,815 32,982,515
Treasury stock, shares 1,679,620 1,679,620
Variable Interest Entity, Primary Beneficiary    
Total assets $ 645,100 $ 652,300
Total liabilities 146,500 84,400
Lennar Homebuilding    
Total assets [1] 11,734,046 11,072,820
Cash and cash equivalents [1] 601,192 893,408
Receivables, net [1] 45,000 74,538
Finished homes and construction in progress [1] 4,269,767 3,957,167
Land and land under development [1] 5,245,422 4,724,578
Consolidated inventory not owned [1] 134,514 58,851
Investments in unconsolidated entities [1] 785,883 741,551
Other assets [1] 646,555 609,222
Total liabilities [2] 6,718,664 6,452,285
Accounts payable [2] 451,517 475,909
Liabilities related to consolidated inventory not owned [2] 115,814 51,431
Other liabilities [2] 835,098 899,815
Lennar Homebuilding | Variable Interest Entity, Primary Beneficiary    
Cash and cash equivalents 8,200 9,600
Receivables, net 100 500
Finished homes and construction in progress 6,200 3,900
Land and land under development 158,800 154,200
Consolidated inventory not owned 134,500 58,900
Investments in unconsolidated entities 4,500 35,800
Other assets 21,400 22,700
Accounts payable 1,700 2,000
Liabilities related to consolidated inventory not owned 115,800 51,400
Other liabilities 1,800 15,600
Rialto    
Total assets [1] 1,171,987 1,505,500
Cash and cash equivalents 103,622 150,219
Receivables, net 0 154,948
Investments in unconsolidated entities [1] 238,740 224,869
Other assets 91,797 116,908
Total liabilities [2] 596,628 866,224
Other liabilities [2] 53,318 94,496
Lennar Multifamily    
Total assets [1] 518,089 415,352
Cash and cash equivalents 5,067 8,041
Land and land under development 142,921 115,982
Consolidated inventory not owned 24,008 5,508
Investments in unconsolidated entities 304,171 250,876
Other assets 41,922 34,945
Total liabilities [2] 90,077 66,950
Liabilities related to consolidated inventory not owned 15,857 4,007
Lennar Multifamily | Variable Interest Entity, Primary Beneficiary    
Total assets 31,400 11,500
Total liabilities 15,900 4,000
Variable Interest Entity, Primary Beneficiary | Rialto    
Total assets 280,000 355,200
Total liabilities $ 11,300 $ 11,300
[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, 2016, total assets include $645.1 million related to consolidated VIEs of which $8.2 million is included in Lennar Homebuilding cash and cash equivalents, $0.1 million in Lennar Homebuilding receivables, net, $6.2 million in Lennar Homebuilding finished homes and construction in progress, $158.8 million in Lennar Homebuilding land and land under development, $134.5 million in Lennar Homebuilding consolidated inventory not owned, $4.5 million in Lennar Homebuilding investments in unconsolidated entities, $21.4 million in Lennar Homebuilding other assets, $280.0 million in Rialto assets and $31.4 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 May 31, 2016, total liabilities include $146.5 million related to consolidated VIEs as to which there was no recourse against the Company, of which $1.7 million is included in Lennar Homebuilding accounts payable, $115.8 million in Lennar Homebuilding liabilities related to consolidated inventory not owned, $1.8 million in Lennar Homebuilding other liabilities, $11.3 million in Rialto liabilities and $15.9 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.