Earnings Per Share (Tables)

3 Months Ended

Feb. 28, 2017

Earnings Per Share [Abstract]

Schedule of Calculation of Numerator and Denominator In Earnings Per Share

Basic and diluted earnings per share were calculated as follows:

	Three Months Ended
	February 28,		February 29,
(In thousands, except per share amounts)	2017		2016
Numerator:
Net earnings attributable to Lennar	$	38,080	144,080
Less: distributed earnings allocated to nonvested shares	112		89
Less: undistributed earnings allocated to nonvested shares	278		1,420
Numerator for basic earnings per share	37,690		142,571
Less: net amount attributable to noncontrolling interests in Rialto's Carried Interest Incentive Plan (1)	339		202
Plus: interest on 3.25% convertible senior notes due 2021	—		1,982
Plus: undistributed earnings allocated to convertible shares	—		1,420
Less: undistributed earnings reallocated to convertible shares	—		1,325
Numerator for diluted earnings per share	$	37,351	144,446
Denominator:
Denominator for basic earnings per share - weighted average common shares outstanding	232,194		210,292
Effect of dilutive securities:
Share-based payments	2		4
Convertible senior notes	—		18,620
Denominator for diluted earnings per share - weighted average common shares outstanding	232,196		228,916
Basic earnings per share	$	0.16	0.68
Diluted earnings per share	$	0.16	0.63

(1)

The amounts presented above relate to Rialto's Carried Interest Incentive Plan adopted in June 2015 (see Note 9) and represents the difference between the advanced tax distributions received by Rialto's subsidiary and the amount Lennar, as the parent company, is assumed to own.