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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Aug. 31, 2017
Nov. 30, 2016
ASSETS    
Cash and cash equivalents $ 837,726 $ 1,329,529
Inventories:    
Total assets [1] 16,939,373 15,361,781
LIABILITIES AND EQUITY    
Total liabilities [2] 9,279,913 8,150,214
Stockholders' equity:    
Preferred stock [2] 0 0
Additional paid-in capital [2] 2,886,273 2,805,349
Retained earnings [2] 4,778,965 4,306,256
Treasury stock, at cost; August 31, 2017 - 1,467,826 shares of Class A common stock and 1,679,620 shares of Class B common stock; November 30, 2016 - 917,447 shares of Class A common stock and 1,679,620 shares of Class B common stock [2] (136,070) (108,961)
Accumulated other comprehensive income (loss) [2] 1,251 (309)
Total stockholders’ equity [2] 7,554,260 7,026,042
Noncontrolling interests [2] 105,200 185,525
Total equity [2] 7,659,460 7,211,567
Total liabilities and equity [2] 16,939,373 15,361,781
Class A Common Stock    
Stockholders' equity:    
Common stock 20,543 20,409 [2]
Class B Common Stock    
Stockholders' equity:    
Common stock [2] 3,298 3,298
Lennar Homebuilding    
ASSETS    
Cash and cash equivalents 564,591 1,050,138 [1]
Restricted cash [1] 9,051 5,977
Receivables, net [1] 86,640 106,976
Inventories:    
Finished homes and construction in progress [1] 5,037,433 3,951,716
Land and land under development [1] 5,497,572 5,106,191
Consolidated inventory not owned [1] 386,579 121,019
Total inventories [1] 10,921,584 9,178,926
Investments in unconsolidated entities [1] 1,016,588 811,723
Goodwill [1] 140,270 0
Other assets [1] 936,796 651,028
Total assets [1] 13,675,520 11,804,768
LIABILITIES AND EQUITY    
Accounts payable 524,852 478,546 [2]
Liabilities related to consolidated inventory not owned [2] 381,679 110,006
Senior notes and other debts payable [2] 5,523,765 4,575,977
Other liabilities [2] 1,068,028 841,449
Total liabilities [2] 7,498,324 6,005,978
Lennar Financial Services    
ASSETS    
Cash and cash equivalents 115,016 123,964
Restricted cash 14,152 17,053
Receivables, net 286,902 409,528
Inventories:    
Goodwill 59,838 39,838
Other assets 98,551 99,319
Total assets [1] 1,385,188 1,754,672
LIABILITIES AND EQUITY    
Other liabilities 230,371 241,055
Total liabilities [2] 950,098 1,318,283
Rialto    
ASSETS    
Cash and cash equivalents 154,814 148,827
Restricted cash 30,928 9,935
Receivables, net 0 204,518
Inventories:    
Investments in unconsolidated entities [1] 249,551 245,741
Goodwill 5,396 5,396
Other assets 136,194 113,671
Total assets [1] 1,195,407 1,276,210
LIABILITIES AND EQUITY    
Other liabilities 86,177 85,645
Total liabilities 703,329 707,980
Lennar Multifamily    
ASSETS    
Cash and cash equivalents 3,305 6,600
Receivables, net 71,464 58,929
Inventories:    
Land and land under development 179,965 139,713
Investments in unconsolidated entities 397,119 318,559
Other assets 31,405 2,330
Total assets [1] 683,258 526,131
LIABILITIES AND EQUITY    
Total liabilities [2] $ 128,162 $ 117,973
[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 August 31, 2017, total assets include $812.9 million related to consolidated VIEs of which $9.7 million is included in Lennar Homebuilding cash and cash equivalents, $0.2 million in Lennar Homebuilding receivables, net, $81.3 million in Lennar Homebuilding finished homes and construction in progress, $189.6 million in Lennar Homebuilding land and land under development, $386.6 million in Lennar Homebuilding consolidated inventory not owned, $4.6 million in Lennar Homebuilding investments in unconsolidated entities, $13.1 million in Lennar Homebuilding other assets, $85.8 million in Rialto assets and $42.0 million in Lennar Multifamily assets.As of November 30, 2016, total assets include $536.3 million related to consolidated VIEs of which $13.3 million is included in Lennar Homebuilding cash and cash equivalents, $0.2 million in Lennar Homebuilding receivables, net, $54.2 million in Lennar Homebuilding finished homes and construction in progress, $106.3 million in Lennar Homebuilding land and land under development, $121.0 million in Lennar Homebuilding consolidated inventory not owned, $4.6 million in Lennar Homebuilding investments in unconsolidated entities, $13.9 million in Lennar Homebuilding other assets, $213.8 million in Rialto assets and $8.8 million in Lennar Multifamily assets.
[2] 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 August 31, 2017, total liabilities include $390.2 million related to consolidated VIEs as to which there was no recourse against the Company, of which $4.7 million is included in Lennar Homebuilding accounts payable, $381.7 million in Lennar Homebuilding liabilities related to consolidated inventory not owned, $1.1 million in Lennar Homebuilding other liabilities and $2.7 million in Rialto liabilities.As of November 30, 2016, total liabilities include $126.4 million related to consolidated VIEs as to which there was no recourse against the Company, of which $3.6 million is included in Lennar Homebuilding accounts payable, $110.0 million in Lennar Homebuilding liabilities related to consolidated inventory not owned, $2.5 million in Lennar Homebuilding other liabilities and $10.3 million in Rialto liabilities.