Earnings Per Share (Tables)

12 Months Ended

Nov. 30, 2017

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share were calculated as follows:

	Years Ended November 30,
(In thousands, except per share amounts)	2017		2016	2015
Numerator:
Net earnings attributable to Lennar	$	810,480	911,844	802,894
Less: distributed earnings allocated to nonvested shares	377		337	361
Less: undistributed earnings allocated to nonvested shares	7,447		8,852	8,371
Numerator for basic earnings per share	802,656		902,655	794,162
Less: net amount attributable to noncontrolling interests in Rialto's Carried Interest Incentive Plan (1)	1,009		1,028	4,120
Plus: interest on 3.25% convertible senior notes due 2021	—		5,528	7,928
Plus: undistributed earnings allocated to convertible shares	—		8,852	8,371
Less: undistributed earnings reallocated to convertible shares	—		8,438	7,528
Numerator for diluted earnings per share	$	801,647	907,569	798,813
Denominator:
Denominator for basic earnings per share - weighted average common shares outstanding (2)	237,155		223,079	209,847
Effect of dilutive securities:
Share-based payments	1		3	9
Convertible senior notes	—		12,288	25,614
Denominator for diluted earnings per share - weighted average common shares outstanding	237,156		235,370	235,470
Basic earnings per share (2)	$	3.38	4.05	3.78
Diluted earnings per share (2)	$	3.38	3.86	3.39

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