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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Feb. 28, 2019
Feb. 28, 2018
Cash flows from operating activities:    
Net earnings (including net earnings (loss) attributable to noncontrolling interests) $ 239,424 $ 136,817
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 18,362 19,570
Amortization of discount/premium and accretion on debt, net (7,048) 40
Equity in loss from unconsolidated entities 5,710 2,431
Distributions of earnings from unconsolidated entities 3,489 3,542
Share-based compensation expense 16,899 17,766
Deferred income tax expense 65,879 33,788
Gain on sale of operating properties and equipment 0 (207)
Gain on sale of interest in unconsolidated entity and other Multifamily gain (10,865) (164,880)
Gain on sale of Financial Services' retail mortgage and real estate brokerage business (1,663) 0
Unrealized and realized gains on real estate owned (938) (883)
Impairments of loans receivable, loans held-for-sale and real estate owned 0 5,486
Valuation adjustments and write-offs of option deposits and pre-acquisition costs 6,910 12,048
Changes in assets and liabilities:    
Decrease (increase) in receivables 394,682 (22,406)
Increase in inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs (1,073,322) (548,725)
Decrease (increase) in other assets 49,015 (26,582)
Decrease in loans held-for-sale 156,720 422,991
Decrease in accounts payable and other liabilities (387,677) (46,325)
Net cash used in operating activities (524,423) (155,529)
Cash flows from investing activities:    
Net additions of operating properties and equipment (27,395) (40,810)
Proceeds from sale of investment in unconsolidated entity 17,790 175,179
Proceeds from sale of Financial Services' retail mortgage and real estate brokerage business 24,446 0
Investments in and contributions to unconsolidated entities (133,917) (62,575)
Distributions of capital from unconsolidated entities 70,080 20,927
Proceeds from sales of real estate owned 2,696 18,080
Purchases of commercial mortgage-backed securities bonds 0 (31,068)
Acquisitions, net of cash acquired 0 (1,076,771)
(Increase) decrease in Financial Services loans held-for-investment, net (11,208) 1,590
Purchases of Financial Services investment securities (31,305) (20,894)
Proceeds from maturities/sales of Financial Services investments securities 9,442 10,473
Other proceeds, net 1,383 1,877
Net cash used in investing activities (77,988) (1,003,992)
Cash flows from financing activities:    
Debt issuance costs 0 (12,039)
Proceeds from other borrowings 10,452 32,807
Principal payments on other borrowings (92,983) (115,548)
Payments related to other liabilities (447) (1,478)
Receipts related to noncontrolling interests 8,348 3,852
Payments related to noncontrolling interests (11,297) (23,760)
Common stock:    
Issuances 607 0
Repurchases (49,143) (25,355)
Dividends (12,860) (9,617)
Net cash provided by (used in) financing activities 69,022 (450,349)
Net decrease in cash and cash equivalents and restricted cash (533,389) (1,609,870)
Cash and cash equivalents and restricted cash at beginning of period 1,595,978 2,694,084
Cash and cash equivalents and restricted cash at end of period 1,062,589 1,084,214
Consolidation/deconsolidation of unconsolidated/consolidated entities, net:    
Inventories 0 35,430
Receivables 0 7,198
Operating properties and equipment and other assets 51,603 0
Investments in unconsolidated entities (4,755) (25,614)
Notes payable (36,110) 0
Other liabilities (1,844) (17,014)
Noncontrolling interests (8,894) 0
Homebuilding    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities 13,756 14,128
Lennar Other    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities (8,330) (8,955)
Multifamily    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities (10,581) (2,742)
Lennar Homebuilding and Lennar Multifamily    
Homebuilding and Multifamily:    
Non-cash contributions to unconsolidated entities 0 523
Purchases of inventories and other assets financed by sellers 46,144 23,503
Equity component of acquisition consideration 0 5,070,006
Consolidating Adjustments    
Cash flows from operating activities:    
Net earnings (including net earnings (loss) attributable to noncontrolling interests) (303,183) (178,838)
Changes in assets and liabilities:    
Net cash used in operating activities (303,183) (178,838)
Cash flows from investing activities:    
Proceeds from sale of investment in unconsolidated entity   0
Proceeds from sale of Financial Services' retail mortgage and real estate brokerage business 0  
Proceeds from sales of real estate owned 0 0
Purchases of commercial mortgage-backed securities bonds   0
Acquisitions, net of cash acquired   0
Net cash used in investing activities 1,121,791 921,113
Common stock:    
Issuances 0  
Repurchases 0 0
Dividends 303,183 178,838
Net cash provided by (used in) financing activities (818,608) (742,275)
Net decrease in cash and cash equivalents and restricted cash 0 0
Cash and cash equivalents and restricted cash at beginning of period 0 0
Cash and cash equivalents and restricted cash at end of period 0 0
Consolidating Adjustments | Homebuilding    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities 0 0
Consolidating Adjustments | Lennar Other    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities 0 0
Consolidating Adjustments | Multifamily    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities 0 0
Operating Segments    
Common stock:    
Cash and cash equivalents and restricted cash at end of period 1,062,589 1,084,214
Operating Segments | Homebuilding    
Common stock:    
Cash and cash equivalents and restricted cash at end of period 865,426 756,747
Operating Segments | Financial Services    
Common stock:    
Cash and cash equivalents and restricted cash at end of period 166,751 208,524
Operating Segments | Lennar Other    
Common stock:    
Cash and cash equivalents and restricted cash at end of period 16,818 102,694
Operating Segments | Multifamily    
Common stock:    
Cash and cash equivalents and restricted cash at end of period 13,594 16,249
Unsecured Revolving Credit Facility    
Cash flows from financing activities:    
Net borrowings under credit facilities 725,000 45,300
Unsecured Revolving Credit Facility | Consolidating Adjustments    
Cash flows from financing activities:    
Net borrowings under credit facilities 0 0
Warehouse Repurchase Facility    
Cash flows from financing activities:    
Net borrowings under credit facilities (508,655) (344,511)
Warehouse Repurchase Facility | Consolidating Adjustments    
Cash flows from financing activities:    
Net borrowings under credit facilities 0 0
Lennar Corporation | Reportable Legal Entities    
Cash flows from operating activities:    
Net earnings (including net earnings (loss) attributable to noncontrolling interests) 239,910 136,215
Changes in assets and liabilities:    
Net cash used in operating activities 198,590 30,400
Cash flows from investing activities:    
Proceeds from sale of investment in unconsolidated entity   0
Proceeds from sale of Financial Services' retail mortgage and real estate brokerage business 0  
Proceeds from sales of real estate owned 0 0
Purchases of commercial mortgage-backed securities bonds   0
Acquisitions, net of cash acquired   (1,140,392)
Net cash used in investing activities (1,130,202) (2,070,550)
Common stock:    
Issuances 607  
Repurchases (49,143) (25,355)
Dividends (12,860) (9,617)
Net cash provided by (used in) financing activities 663,604 455,911
Net decrease in cash and cash equivalents and restricted cash (268,008) (1,584,239)
Cash and cash equivalents and restricted cash at beginning of period 624,694 1,938,555
Cash and cash equivalents and restricted cash at end of period 356,686 354,316
Lennar Corporation | Reportable Legal Entities | Homebuilding    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities 0 0
Lennar Corporation | Reportable Legal Entities | Lennar Other    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities 0 0
Lennar Corporation | Reportable Legal Entities | Multifamily    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities 0 0
Lennar Corporation | Unsecured Revolving Credit Facility | Reportable Legal Entities    
Cash flows from financing activities:    
Net borrowings under credit facilities 725,000 500,000
Lennar Corporation | Warehouse Repurchase Facility | Reportable Legal Entities    
Cash flows from financing activities:    
Net borrowings under credit facilities 0 0
Guarantor Subsidiaries | Reportable Legal Entities    
Cash flows from operating activities:    
Net earnings (including net earnings (loss) attributable to noncontrolling interests) 289,343 167,049
Changes in assets and liabilities:    
Net cash used in operating activities (788,660) (183,138)
Cash flows from investing activities:    
Proceeds from sale of investment in unconsolidated entity   175,179
Proceeds from sale of Financial Services' retail mortgage and real estate brokerage business 21,517  
Proceeds from sales of real estate owned 0 0
Purchases of commercial mortgage-backed securities bonds   0
Acquisitions, net of cash acquired   24,088
Net cash used in investing activities (54,829) 164,388
Common stock:    
Issuances 0  
Repurchases 0 0
Dividends (289,343) (167,049)
Net cash provided by (used in) financing activities 610,666 93,397
Net decrease in cash and cash equivalents and restricted cash (232,823) 74,647
Cash and cash equivalents and restricted cash at beginning of period 721,968 366,946
Cash and cash equivalents and restricted cash at end of period 489,145 441,593
Guarantor Subsidiaries | Reportable Legal Entities | Homebuilding    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities 13,951 13,972
Guarantor Subsidiaries | Reportable Legal Entities | Lennar Other    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities 3,346 159
Guarantor Subsidiaries | Reportable Legal Entities | Multifamily    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities 0 0
Guarantor Subsidiaries | Unsecured Revolving Credit Facility | Reportable Legal Entities    
Cash flows from financing activities:    
Net borrowings under credit facilities 0 (454,700)
Guarantor Subsidiaries | Warehouse Repurchase Facility | Reportable Legal Entities    
Cash flows from financing activities:    
Net borrowings under credit facilities 5,801 (27)
Non-Guarantor Subsidiaries | Reportable Legal Entities    
Cash flows from operating activities:    
Net earnings (including net earnings (loss) attributable to noncontrolling interests) 13,354 12,391
Changes in assets and liabilities:    
Net cash used in operating activities 368,830 176,047
Cash flows from investing activities:    
Proceeds from sale of investment in unconsolidated entity   0
Proceeds from sale of Financial Services' retail mortgage and real estate brokerage business 2,929  
Proceeds from sales of real estate owned 2,696 18,080
Purchases of commercial mortgage-backed securities bonds   (31,068)
Acquisitions, net of cash acquired   39,533
Net cash used in investing activities (14,748) (18,943)
Common stock:    
Issuances 0  
Repurchases 0 0
Dividends (13,840) (11,789)
Net cash provided by (used in) financing activities (386,640) (257,382)
Net decrease in cash and cash equivalents and restricted cash (32,558) (100,278)
Cash and cash equivalents and restricted cash at beginning of period 249,316 388,583
Cash and cash equivalents and restricted cash at end of period 216,758 288,305
Non-Guarantor Subsidiaries | Reportable Legal Entities | Homebuilding    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities (195) 156
Non-Guarantor Subsidiaries | Reportable Legal Entities | Lennar Other    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities (11,676) (9,114)
Non-Guarantor Subsidiaries | Reportable Legal Entities | Multifamily    
Adjustments to reconcile net earnings to net cash used in operating activities:    
Equity in loss from unconsolidated entities (10,581) (2,742)
Non-Guarantor Subsidiaries | Unsecured Revolving Credit Facility | Reportable Legal Entities    
Cash flows from financing activities:    
Net borrowings under credit facilities 0 0
Non-Guarantor Subsidiaries | Warehouse Repurchase Facility | Reportable Legal Entities    
Cash flows from financing activities:    
Net borrowings under credit facilities $ (514,456) (344,484)
Senior Notes    
Cash flows from financing activities:    
Debt issuance costs   (12,039)
Senior Notes | Consolidating Adjustments    
Cash flows from financing activities:    
Debt issuance costs   0
Senior Notes | Lennar Corporation | Reportable Legal Entities    
Cash flows from financing activities:    
Debt issuance costs   (9,117)
Senior Notes | Guarantor Subsidiaries | Reportable Legal Entities    
Cash flows from financing activities:    
Debt issuance costs   0
Senior Notes | Non-Guarantor Subsidiaries | Reportable Legal Entities    
Cash flows from financing activities:    
Debt issuance costs   $ (2,922)