XML 93 R83.htm IDEA: XBRL DOCUMENT v3.10.0.1
Supplemental Financial Information (Condensed Consolidating Balance Sheet) (Details) - USD ($)
$ in Thousands
Aug. 31, 2018
Nov. 30, 2017
Aug. 31, 2017
Nov. 30, 2016
Assets:        
Total assets [1] $ 28,289,395 $ 18,745,034    
LIABILITIES AND EQUITY        
Total liabilities [2] 14,173,215 10,758,902    
Stockholders’ equity [2] 14,032,016 7,872,317    
Noncontrolling interests [2] 84,164 113,815    
Total equity 14,116,180 [2] 7,986,132 [2] $ 7,659,460 $ 7,211,567
Total liabilities and equity [2] 28,289,395 18,745,034    
Lennar Homebuilding        
Assets:        
Cash and cash equivalents, restricted cash and receivables, net 1,015,673 2,429,332    
Inventories 17,569,072 10,860,890    
Investments in unconsolidated entities [1] 997,488 900,769    
Goodwill [1] 3,457,999 136,566    
Other assets [1] 1,482,200 863,404    
Investments in subsidiaries 0 0    
Intercompany 0 0    
Total assets [1] 24,522,432 15,190,961    
LIABILITIES AND EQUITY        
Accounts payable and other liabilities 2,793,879 1,920,594    
Liabilities related to consolidated inventory not owned [2] 280,546 380,720    
Senior notes and other debts payable [2] 9,407,987 6,410,003    
Intercompany 0 0    
Total liabilities [2] 12,482,412 8,711,317    
Lennar Financial Services        
Assets:        
Goodwill 231,245 59,838    
Other assets 115,876 95,527    
Total assets [1] 2,042,024 1,689,508    
Lennar Financial Services loans held-for-sale 945,387 937,516    
Lennar Financial Services 2,042,024 1,689,508    
LIABILITIES AND EQUITY        
Total liabilities [2] 1,241,108 1,177,814    
Rialto        
Assets:        
Investments in unconsolidated entities [1] 294,465 265,418    
Goodwill 5,396 5,396    
Other assets 87,726 122,371    
Total assets [1] 834,882 1,153,840    
Lennar Financial Services loans held-for-sale 141,333 236,018    
LIABILITIES AND EQUITY        
Total liabilities [2] 297,129 720,056    
Lennar Multifamily        
Assets:        
Investments in unconsolidated entities 482,241 407,544    
Other assets 33,699 16,209    
Total assets [1] 890,057 710,725    
LIABILITIES AND EQUITY        
Accounts payable and other liabilities 152,566 149,715    
Total liabilities [2] 152,566 149,715    
Reportable Legal Entities | Lennar Corporation        
Assets:        
Total assets 23,584,649 14,519,129    
LIABILITIES AND EQUITY        
Total liabilities 9,552,633 6,646,812    
Stockholders’ equity 14,032,016 7,872,317    
Noncontrolling interests 0 0    
Total equity 14,032,016 7,872,317    
Total liabilities and equity 23,584,649 14,519,129    
Reportable Legal Entities | Lennar Corporation | Lennar Homebuilding        
Assets:        
Cash and cash equivalents, restricted cash and receivables, net 433,760 1,945,024    
Inventories 0 0    
Investments in unconsolidated entities 0 0    
Goodwill 0 0    
Other assets 399,731 246,490    
Investments in subsidiaries 10,715,911 4,446,309    
Intercompany 12,035,247 7,881,306    
Total assets 23,584,649 14,519,129    
LIABILITIES AND EQUITY        
Accounts payable and other liabilities 651,804 635,227    
Liabilities related to consolidated inventory not owned 0 0    
Senior notes and other debts payable 8,900,829 6,011,585    
Intercompany 0 0    
Total liabilities 9,552,633 6,646,812    
Reportable Legal Entities | Lennar Corporation | Lennar Financial Services        
Assets:        
Total assets 0      
Lennar Financial Services   0    
LIABILITIES AND EQUITY        
Total liabilities 0 0    
Reportable Legal Entities | Lennar Corporation | Rialto        
Assets:        
Total assets 0 0    
LIABILITIES AND EQUITY        
Total liabilities 0 0    
Reportable Legal Entities | Lennar Corporation | Lennar Multifamily        
Assets:        
Total assets 0 0    
LIABILITIES AND EQUITY        
Total liabilities 0 0    
Reportable Legal Entities | Guarantor Subsidiaries        
Assets:        
Total assets 23,566,056 12,747,512    
LIABILITIES AND EQUITY        
Total liabilities 13,145,917 8,597,055    
Stockholders’ equity 10,420,139 4,150,457    
Noncontrolling interests 0 0    
Total equity 10,420,139 4,150,457    
Total liabilities and equity 23,566,056 12,747,512    
Reportable Legal Entities | Guarantor Subsidiaries | Lennar Homebuilding        
Assets:        
Cash and cash equivalents, restricted cash and receivables, net 526,948 462,336    
Inventories 17,232,267 10,560,996    
Investments in unconsolidated entities 983,963 884,294    
Goodwill 3,457,999 136,566    
Other assets 955,313 520,899    
Investments in subsidiaries 89,347 52,237    
Intercompany 0 0    
Total assets 23,245,837 12,617,328    
LIABILITIES AND EQUITY        
Accounts payable and other liabilities 1,866,606 1,011,051    
Liabilities related to consolidated inventory not owned 267,046 367,220    
Senior notes and other debts payable 458,299 394,365    
Intercompany 10,487,330 6,775,719    
Total liabilities 13,079,281 8,548,355    
Reportable Legal Entities | Guarantor Subsidiaries | Lennar Financial Services        
Assets:        
Total assets 320,219      
Lennar Financial Services   130,184    
LIABILITIES AND EQUITY        
Total liabilities 0 48,700    
Reportable Legal Entities | Guarantor Subsidiaries | Rialto        
Assets:        
Total assets 0 0    
LIABILITIES AND EQUITY        
Total liabilities 0 0    
Reportable Legal Entities | Guarantor Subsidiaries | Lennar Multifamily        
Assets:        
Total assets 0 0    
LIABILITIES AND EQUITY        
Total liabilities 66,636 0    
Reportable Legal Entities | Non-Guarantor Subsidiaries        
Assets:        
Total assets 4,003,812 3,878,862    
LIABILITIES AND EQUITY        
Total liabilities 3,534,529 3,416,958    
Stockholders’ equity 385,119 348,089    
Noncontrolling interests 84,164 113,815    
Total equity 469,283 461,904    
Total liabilities and equity 4,003,812 3,878,862    
Reportable Legal Entities | Non-Guarantor Subsidiaries | Lennar Homebuilding        
Assets:        
Cash and cash equivalents, restricted cash and receivables, net 54,965 21,972    
Inventories 336,805 299,894    
Investments in unconsolidated entities 13,525 16,475    
Other assets 150,714 114,431    
Investments in subsidiaries 0 0    
Intercompany 0 0    
Total assets 556,009 452,772    
LIABILITIES AND EQUITY        
Accounts payable and other liabilities 300,086 294,933    
Liabilities related to consolidated inventory not owned 13,500 13,500    
Senior notes and other debts payable 48,859 4,053    
Intercompany 1,547,917 1,105,587    
Total liabilities 1,910,362 1,418,073    
Reportable Legal Entities | Non-Guarantor Subsidiaries | Lennar Financial Services        
Assets:        
Total assets 1,722,864      
Lennar Financial Services   1,561,525    
LIABILITIES AND EQUITY        
Total liabilities 1,174,472 1,129,114    
Reportable Legal Entities | Non-Guarantor Subsidiaries | Rialto        
Assets:        
Total assets 834,882 1,153,840    
LIABILITIES AND EQUITY        
Total liabilities 297,129 720,056    
Reportable Legal Entities | Non-Guarantor Subsidiaries | Lennar Multifamily        
Assets:        
Total assets 890,057 710,725    
LIABILITIES AND EQUITY        
Total liabilities 152,566 149,715    
Consolidating Adjustments        
Assets:        
Total assets (22,865,122) (12,400,469)    
LIABILITIES AND EQUITY        
Total liabilities (12,059,864) (7,901,923)    
Stockholders’ equity (10,805,258) (4,498,546)    
Noncontrolling interests 0 0    
Total equity (10,805,258) (4,498,546)    
Total liabilities and equity (22,865,122) (12,400,469)    
Consolidating Adjustments | Lennar Homebuilding        
Assets:        
Cash and cash equivalents, restricted cash and receivables, net 0 0    
Inventories 0 0    
Investments in unconsolidated entities 0 0    
Goodwill 0 0    
Other assets (23,558) (18,416)    
Investments in subsidiaries (10,805,258) (4,498,546)    
Intercompany (12,035,247) (7,881,306)    
Total assets (22,864,063) (12,398,268)    
LIABILITIES AND EQUITY        
Accounts payable and other liabilities (24,617) (20,617)    
Liabilities related to consolidated inventory not owned 0 0    
Senior notes and other debts payable 0 0    
Intercompany (12,035,247) (7,881,306)    
Total liabilities (12,059,864) (7,901,923)    
Consolidating Adjustments | Lennar Financial Services        
Assets:        
Total assets (1,059)      
Lennar Financial Services   (2,201)    
LIABILITIES AND EQUITY        
Total liabilities 0 0    
Consolidating Adjustments | Rialto        
Assets:        
Total assets 0 0    
LIABILITIES AND EQUITY        
Total liabilities 0 0    
Consolidating Adjustments | Lennar Multifamily        
Assets:        
Total assets 0 0    
LIABILITIES AND EQUITY        
Total liabilities $ 0 $ 0    
[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, 2018, total assets include $775.7 million related to consolidated VIEs of which $48.5 million is included in Lennar Homebuilding cash and cash equivalents, $1.0 million in Lennar Homebuilding receivables, net, $78.4 million in Lennar Homebuilding finished homes and construction in progress, $243.7 million in Lennar Homebuilding land and land under development, $328.8 million in Lennar Homebuilding consolidated inventory not owned, $4.5 million in Lennar Homebuilding investments in unconsolidated entities, $10.5 million in Lennar Homebuilding other assets, $12.0 million in Rialto assets and $48.1 million in Lennar Multifamily assets.
As of November 30, 2017, total assets include $799.4 million related to consolidated VIEs of which $15.8 million is included in Lennar Homebuilding cash and cash equivalents, $0.2 million in Lennar Homebuilding receivables, net, $53.2 million in Lennar Homebuilding finished homes and construction in progress, $229.0 million in Lennar Homebuilding land and land under development, $393.3 million in Lennar Homebuilding consolidated inventory not owned, $4.6 million in Lennar Homebuilding investments in unconsolidated entities, $11.8 million in Lennar Homebuilding other assets, $48.8 million in Rialto assets and $42.7 million in Lennar Multifamily assets.
[2] Under certain provisions of 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, 2018, total liabilities include $345.3 million related to consolidated VIEs as to which there was no recourse against the Company, of which $6.1 million is included in Lennar Homebuilding accounts payable, $48.9 million in Lennar Homebuilding senior notes and other debts payable, $280.5 million in Lennar Homebuilding liabilities related to consolidated inventory not owned, $8.8 million in Lennar Homebuilding other liabilities and $0.9 million in Rialto liabilities.
As of November 30, 2017, total liabilities include $389.7 million related to consolidated VIEs as to which there was no recourse against the Company, of which $5.0 million is included in Lennar Homebuilding accounts payable, $380.7 million in Lennar Homebuilding liabilities related to consolidated inventory not owned, $1.8 million in Lennar Homebuilding other liabilities and $2.2 million in Rialto liabilities.