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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Aug. 31, 2018
Aug. 31, 2017
Aug. 31, 2018
Aug. 31, 2017
Revenues:        
Revenues $ 5,672,569 $ 3,261,476 $ 14,112,421 $ 8,860,796
Cost and expenses:        
Acquisition and integration costs related to CalAtlantic 11,992 0 140,062 0
Corporate general and administrative 96,346 72,860 249,071 200,333
Total costs and expenses 5,101,824 2,886,383 13,049,625 7,964,251
Equity in earnings (loss) from unconsolidated entities     (8,115) 12,838
Earnings before income taxes 565,918 368,385 1,226,156 727,628
Provision for income taxes (1) [1] (98,298) (124,795) (306,870) (253,656)
Net earnings (including net earnings (loss) attributable to noncontrolling interests) 467,620 243,590 919,286 473,972
Less: Net earnings (loss) attributable to noncontrolling interests 14,409 (5,575) 19,603 (26,918)
Net earnings attributable to Lennar 453,211 249,165 899,683 500,890
Other comprehensive income (loss), net of tax:        
Net unrealized gain (loss) on securities available-for-sale (110) 165 (1,357) 1,556
Reclassification adjustments for (gains) losses included in earnings, net of tax (166) 0 (292) 4
Total other comprehensive income (loss), net of tax (276) 165 (1,649) 1,560
Total comprehensive income attributable to Lennar 452,935 249,330 898,034 502,450
Total comprehensive income (loss) attributable to noncontrolling interests $ 14,409 $ (5,575) $ 19,603 $ (26,918)
Basic earnings per share (in dollars per share) [2] $ 1.37 $ 1.04 $ 2.95 $ 2.09
Diluted earnings per share (in dollars per share) [2] 1.37 1.04 2.94 2.09
Class A Common Stock        
Other comprehensive income (loss), net of tax:        
Cash dividends per each common share (in dollars per share) $ 0.04 $ 0.04 $ 0.12 $ 0.12
Lennar Homebuilding        
Revenues:        
Revenues $ 5,285,742 $ 2,885,195 $ 13,011,832 $ 7,789,630
Cost and expenses:        
Cost and expenses 4,671,224 2,492,065 11,711,298 6,829,109
Equity in earnings (loss) from unconsolidated entities (15,391) (9,651) (41,904) (42,691)
Other income (expense), net 12,910 2,797 192,662 12,364
Lennar Homebuilding loss due to litigation 0 0 0 (140,000)
Lennar Financial Services        
Revenues:        
Revenues 236,268 215,056 639,543 571,462
Cost and expenses:        
Cost and expenses 179,640 165,999 510,838 458,014
Rialto        
Revenues:        
Revenues 49,495 57,810 149,033 207,804
Cost and expenses:        
Cost and expenses 39,435 49,503 120,784 175,492
Equity in earnings (loss) from unconsolidated entities 5,266 4,858 18,496 11,310
Other income (expense), net (5,882) (16,357) (21,187) (54,119)
Lennar Multifamily        
Revenues:        
Revenues 101,064 103,415 312,013 291,900
Cost and expenses:        
Cost and expenses 103,187 105,956 317,572 301,303
Equity in earnings (loss) from unconsolidated entities $ (1,730) $ 11,645 $ 15,293 $ 44,219
[1] Provision for income taxes for the nine months ended August 31, 2018 includes a non-cash one-time write down of deferred tax assets of $68.6 million resulting from the Tax Cuts and Jobs Act enacted in December 2017.
[2] Basic and diluted average shares outstanding and earnings per share calculations for the three and nine months ended August 31, 2017 have been adjusted to reflect 4.7 million of Class B shares distributed in the stock dividend on November 27, 2017.