XML 96 R85.htm IDEA: XBRL DOCUMENT v3.8.0.1
Supplemental Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($)
$ in Thousands
3 Months Ended
Feb. 28, 2018
Feb. 28, 2017
Cash flows from operating activities:    
Net earnings (including net earnings (loss) attributable to noncontrolling interests) $ 136,817 $ 29,674
Distributions of earnings from guarantor and non-guarantor subsidiaries 0 0
Other adjustments to reconcile net earnings (including net earnings attributable to noncontrolling interests) to net cash provided by (used in) operating activities (279,545) 49,650
Net cash (used in) provided by operating activities (142,728) 79,324
Cash flows from investing activities:    
Investments in and contributions to unconsolidated entities, net of distributions of capital (41,648) (111,745)
Proceeds from sales of real estate owned 18,080 24,215
Originations of loans receivable 0 9,330
Proceeds from sale of investment in unconsolidated entity (175,179) 0
Purchases of commercial mortgage-backed securities bonds (31,068) (40,357)
Acquisitions, net of cash acquired (1,101,739) (596,172)
Other (47,014) (32,693)
Distributions of capital from guarantor and non-guarantor subsidiaries   0
Intercompany 0 0
Net cash used in investing activities (1,028,210) (766,082)
Cash flows from financing activities:    
Debt issuance costs (12,039) (10,848)
Net proceeds (payments) on other borrowings (84,219) (8,847)
Net payments related to noncontrolling interests (19,908) (25,718)
Excess tax benefits from share-based awards 0 1,953
Common stock:    
Issuances 0 99
Repurchases (25,355) (83)
Dividends (9,617) (9,400)
Intercompany 0 0
Net cash (used in) provided by financing activities (450,349) 286,289
Net decrease in cash and cash equivalents (1,621,287) (400,469)
Cash and cash equivalents at beginning of period 2,650,872 1,329,529
Cash and cash equivalents at end of period 1,029,585 929,060
Rialto    
Cash flows from financing activities:    
Net proceeds on Rialto notes payable   32,489
Principal payments on Rialto notes payable including structured notes (100,161) (2,971)
Common stock:    
Cash and cash equivalents at beginning of period 241,861  
Cash and cash equivalents at end of period 113,582  
Senior Notes    
Cash flows from financing activities:    
Proceeds from senior notes and debt issuance costs   589,152
Debt issuance costs (12,039)  
Unsecured Revolving Credit Facility    
Cash flows from financing activities:    
Net borrowings under revolving lines of credit 45,300 250,000
Warehouse Repurchase Facility    
Cash flows from financing activities:    
Net borrowings under revolving lines of credit (344,511) (543,356)
Reportable Legal Entities | Lennar Corporation    
Cash flows from operating activities:    
Net earnings (including net earnings (loss) attributable to noncontrolling interests) 136,215 38,080
Distributions of earnings from guarantor and non-guarantor subsidiaries 168,638 77,066
Other adjustments to reconcile net earnings (including net earnings attributable to noncontrolling interests) to net cash provided by (used in) operating activities (274,370) (41,356)
Net cash (used in) provided by operating activities 30,483 73,790
Cash flows from investing activities:    
Investments in and contributions to unconsolidated entities, net of distributions of capital 0 0
Proceeds from sales of real estate owned 0 0
Originations of loans receivable   0
Proceeds from sale of investment in unconsolidated entity 0  
Purchases of commercial mortgage-backed securities bonds 0 0
Acquisitions, net of cash acquired (1,162,342) (596,172)
Other (9,045) (2,824)
Distributions of capital from guarantor and non-guarantor subsidiaries   30,000
Intercompany (921,113) (634,418)
Net cash used in investing activities (2,092,500) (1,203,414)
Cash flows from financing activities:    
Net proceeds (payments) on other borrowings 0  
Net payments related to noncontrolling interests 0 0
Excess tax benefits from share-based awards   1,953
Common stock:    
Issuances   99
Repurchases (25,355) (83)
Dividends (9,617) (9,400)
Intercompany 0 0
Net cash (used in) provided by financing activities 455,911 837,729
Net decrease in cash and cash equivalents (1,606,106) (291,895)
Cash and cash equivalents at beginning of period 1,937,674 697,112
Cash and cash equivalents at end of period 331,568 405,217
Reportable Legal Entities | Lennar Corporation | Rialto    
Cash flows from financing activities:    
Net proceeds on Rialto notes payable   0
Reportable Legal Entities | Lennar Corporation | Senior Notes    
Cash flows from financing activities:    
Proceeds from senior notes and debt issuance costs   595,160
Debt issuance costs (9,117)  
Reportable Legal Entities | Lennar Corporation | Unsecured Revolving Credit Facility    
Cash flows from financing activities:    
Net borrowings under revolving lines of credit 500,000 250,000
Reportable Legal Entities | Lennar Corporation | Warehouse Repurchase Facility    
Cash flows from financing activities:    
Net borrowings under revolving lines of credit 0 0
Reportable Legal Entities | Guarantor Subsidiaries    
Cash flows from operating activities:    
Net earnings (including net earnings (loss) attributable to noncontrolling interests) 167,049 56,832
Distributions of earnings from guarantor and non-guarantor subsidiaries 10,200 6,893
Other adjustments to reconcile net earnings (including net earnings attributable to noncontrolling interests) to net cash provided by (used in) operating activities (352,627) (421,010)
Net cash (used in) provided by operating activities (175,378) (357,285)
Cash flows from investing activities:    
Investments in and contributions to unconsolidated entities, net of distributions of capital (9,659) (111,072)
Proceeds from sales of real estate owned 0 0
Originations of loans receivable   0
Proceeds from sale of investment in unconsolidated entity (175,179)  
Purchases of commercial mortgage-backed securities bonds 0 0
Acquisitions, net of cash acquired 24,088 0
Other (25,220) (9,303)
Distributions of capital from guarantor and non-guarantor subsidiaries   30,000
Intercompany 0 0
Net cash used in investing activities 164,388 (90,375)
Cash flows from financing activities:    
Net proceeds (payments) on other borrowings (14,806) (15,217)
Net payments related to noncontrolling interests
Excess tax benefits from share-based awards   0
Common stock:    
Issuances   0
Repurchases 0 0
Dividends (167,049) (86,832)
Intercompany 729,979 440,388
Net cash (used in) provided by financing activities 93,397 338,314
Net decrease in cash and cash equivalents 82,407 (109,346)
Cash and cash equivalents at beginning of period 359,087 377,070
Cash and cash equivalents at end of period 441,494 267,724
Reportable Legal Entities | Guarantor Subsidiaries | Rialto    
Cash flows from financing activities:    
Net proceeds on Rialto notes payable   0
Reportable Legal Entities | Guarantor Subsidiaries | Senior Notes    
Cash flows from financing activities:    
Proceeds from senior notes and debt issuance costs   0
Debt issuance costs 0  
Reportable Legal Entities | Guarantor Subsidiaries | Unsecured Revolving Credit Facility    
Cash flows from financing activities:    
Net borrowings under revolving lines of credit (454,700) 0
Reportable Legal Entities | Guarantor Subsidiaries | Warehouse Repurchase Facility    
Cash flows from financing activities:    
Net borrowings under revolving lines of credit (27) (25)
Reportable Legal Entities | Non-Guarantor Subsidiaries    
Cash flows from operating activities:    
Net earnings (including net earnings (loss) attributable to noncontrolling interests) 12,391 18,721
Distributions of earnings from guarantor and non-guarantor subsidiaries 0 0
Other adjustments to reconcile net earnings (including net earnings attributable to noncontrolling interests) to net cash provided by (used in) operating activities 168,614 428,057
Net cash (used in) provided by operating activities 181,005 446,778
Cash flows from investing activities:    
Investments in and contributions to unconsolidated entities, net of distributions of capital (31,989) (673)
Proceeds from sales of real estate owned 18,080 24,215
Originations of loans receivable   9,330
Proceeds from sale of investment in unconsolidated entity 0  
Purchases of commercial mortgage-backed securities bonds (31,068) (40,357)
Acquisitions, net of cash acquired 36,515 0
Other (12,749) (20,566)
Distributions of capital from guarantor and non-guarantor subsidiaries   0
Intercompany 0 0
Net cash used in investing activities (21,211) (46,711)
Cash flows from financing activities:    
Net proceeds (payments) on other borrowings (69,413) 6,370
Net payments related to noncontrolling interests (19,908) (25,718)
Excess tax benefits from share-based awards   0
Common stock:    
Issuances   0
Repurchases 0 0
Dividends (11,789) (57,127)
Intercompany 191,134 194,030
Net cash (used in) provided by financing activities (257,382) (399,295)
Net decrease in cash and cash equivalents (97,588) 772
Cash and cash equivalents at beginning of period 354,111 255,347
Cash and cash equivalents at end of period 256,523 256,119
Reportable Legal Entities | Non-Guarantor Subsidiaries | Rialto    
Cash flows from financing activities:    
Net proceeds on Rialto notes payable   32,489
Reportable Legal Entities | Non-Guarantor Subsidiaries | Senior Notes    
Cash flows from financing activities:    
Proceeds from senior notes and debt issuance costs   (6,008)
Debt issuance costs (2,922)  
Reportable Legal Entities | Non-Guarantor Subsidiaries | Unsecured Revolving Credit Facility    
Cash flows from financing activities:    
Net borrowings under revolving lines of credit 0 0
Reportable Legal Entities | Non-Guarantor Subsidiaries | Warehouse Repurchase Facility    
Cash flows from financing activities:    
Net borrowings under revolving lines of credit (344,484) (543,331)
Consolidating Adjustments    
Cash flows from operating activities:    
Net earnings (including net earnings (loss) attributable to noncontrolling interests) (178,838) (83,959)
Distributions of earnings from guarantor and non-guarantor subsidiaries (178,838) (83,959)
Other adjustments to reconcile net earnings (including net earnings attributable to noncontrolling interests) to net cash provided by (used in) operating activities 178,838 83,959
Net cash (used in) provided by operating activities (178,838) (83,959)
Cash flows from investing activities:    
Investments in and contributions to unconsolidated entities, net of distributions of capital 0 0
Proceeds from sales of real estate owned 0 0
Originations of loans receivable   0
Proceeds from sale of investment in unconsolidated entity 0  
Purchases of commercial mortgage-backed securities bonds 0 0
Acquisitions, net of cash acquired 0 0
Other 0 0
Distributions of capital from guarantor and non-guarantor subsidiaries   (60,000)
Intercompany 921,113 634,418
Net cash used in investing activities 921,113 574,418
Cash flows from financing activities:    
Net proceeds (payments) on other borrowings 0 0
Net payments related to noncontrolling interests 0 0
Excess tax benefits from share-based awards   0
Common stock:    
Issuances   0
Repurchases 0 0
Dividends 178,838 143,959
Intercompany (921,113) (634,418)
Net cash (used in) provided by financing activities (742,275) (490,459)
Net decrease in cash and cash equivalents 0 0
Cash and cash equivalents at beginning of period 0 0
Cash and cash equivalents at end of period 0 0
Consolidating Adjustments | Rialto    
Cash flows from financing activities:    
Net proceeds on Rialto notes payable   0
Consolidating Adjustments | Senior Notes    
Cash flows from financing activities:    
Proceeds from senior notes and debt issuance costs   0
Debt issuance costs 0  
Consolidating Adjustments | Unsecured Revolving Credit Facility    
Cash flows from financing activities:    
Net borrowings under revolving lines of credit 0 0
Consolidating Adjustments | Warehouse Repurchase Facility    
Cash flows from financing activities:    
Net borrowings under revolving lines of credit $ 0 $ 0