XML 59 R49.htm IDEA: XBRL DOCUMENT v3.19.2
Stockholders' Equity (Schedule Of Changes In Equity) (Details) - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Jul. 25, 2019
May 08, 2019
May 31, 2019
May 31, 2018
May 31, 2019
May 31, 2018
Aug. 31, 2018
Nov. 30, 2018
Jan. 31, 2019
Dec. 01, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Balance, beginning         $ 14,682,957,000 [1] $ 7,986,132,000 $ 7,986,132,000 $ 7,986,132,000    
Net earnings (including net loss attributable to noncontrolling interests)     $ 418,869,000 $ 314,849,000 658,293,000 451,666,000        
Employee stock and directors plans         (691,000) (24,205,000)        
Purchases of treasury stock         (98,781,000)          
Stock issuance in connection with CalAtlantic acquisition           5,070,006,000        
Amortization of restricted stock         31,390,000 33,720,000        
Cash dividends         (25,877,000) (22,780,000)        
Receipts related to noncontrolling interests         8,937,000 3,882,000        
Payments related to noncontrolling interests         (23,317,000) (30,412,000)        
Non-cash distributions to noncontrolling interests           15,080,000        
Non-cash consolidations, net         8,894,000          
Cumulative-effect of accounting change (see Note 1 to the Notes to the Condensed Consolidated Financial Statements)                   $ 9,753,000
Non-cash activity related to noncontrolling interests             (5,616,000)      
Total other comprehensive income, net of tax         593,000 (1,373,000)        
Balance, ending     $ 15,246,535,000 [1] 13,698,870,000 $ 15,246,535,000 [1] 13,698,870,000   14,682,957,000 [1]    
Stock repurchase program, authorized value                 $ 1,000,000,000  
Stock repurchase program, authorized shares                 25,000,000  
Shares repurchased during period     1,000,000   2,000,000          
Shares repurchased during period, value     $ 51,800,000   $ 98,800,000          
Average share price of shares repurchased (in dollars per share)     $ 51.76   $ 49.37          
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments           217,154,000        
Additional Paid - in Capital                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Balance, beginning         $ 8,496,677,000 3,142,013,000 3,142,013,000 3,142,013,000    
Employee stock and directors plans         1,761,000 4,266,000        
Stock issuance in connection with CalAtlantic acquisition           5,061,430,000        
Amortization of restricted stock         31,390,000 33,720,000        
Non-cash activity related to noncontrolling interests             0      
Balance, ending     $ 8,529,828,000 8,458,211,000 8,529,828,000 8,458,211,000   8,496,677,000    
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments           216,782,000        
Treasury Stock                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Balance, beginning         (435,869,000) (136,020,000) (136,020,000) (136,020,000)    
Employee stock and directors plans         (2,456,000) (28,532,000)        
Purchases of treasury stock         (98,781,000)          
Stock issuance in connection with CalAtlantic acquisition           0        
Balance, ending     (537,106,000) (164,552,000) (537,106,000) (164,552,000)   (435,869,000)    
Accumulated Other Comprehensive Income (Loss)                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Balance, beginning         (366,000) 1,034,000 1,034,000 1,034,000    
Total other comprehensive income, net of tax         593,000 (1,373,000)        
Balance, ending     227,000 (339,000) 227,000 (339,000)   (366,000)    
Retained Earnings                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Balance, beginning         6,487,650,000 4,840,978,000 4,840,978,000 4,840,978,000    
Net earnings (including net loss attributable to noncontrolling interests)         661,382,000 446,472,000        
Employee stock and directors plans           4,000        
Cash dividends         (25,877,000) (22,780,000)        
Cumulative-effect of accounting change (see Note 1 to the Notes to the Condensed Consolidated Financial Statements)                   $ 9,753,000
Balance, ending     7,132,908,000 5,264,674,000 7,132,908,000 5,264,674,000   6,487,650,000    
Noncontrolling Interests                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Balance, beginning         101,422,000 113,815,000 113,815,000 113,815,000    
Net earnings (including net loss attributable to noncontrolling interests)         (3,089,000) 5,194,000        
Receipts related to noncontrolling interests         8,937,000 3,882,000        
Payments related to noncontrolling interests         (23,317,000) (30,412,000)        
Non-cash distributions to noncontrolling interests           15,080,000        
Non-cash consolidations, net         8,894,000          
Non-cash activity related to noncontrolling interests             (5,616,000)      
Balance, ending     87,231,000 107,559,000 87,231,000 107,559,000   $ 101,422,000    
Class A Common Stock                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Cash dividends (in dollars per share)   $ 0.04           $ 0.04    
Class A Common Stock | Common Stock                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Balance, beginning         29,499,000 20,543,000 20,543,000 $ 20,543,000    
Employee stock and directors plans         4,000 57,000        
Stock issuance in connection with CalAtlantic acquisition           8,408,000        
Balance, ending     29,503,000 29,373,000 29,503,000 29,373,000   29,499,000    
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments           365,000        
Class B Common Stock | Common Stock                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Balance, beginning         3,944,000 3,769,000 $ 3,769,000 3,769,000    
Stock issuance in connection with CalAtlantic acquisition           168,000        
Balance, ending     $ 3,944,000 $ 3,944,000 $ 3,944,000 3,944,000   $ 3,944,000    
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments           $ 7,000        
Subsequent Event | Class A Common Stock                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Cash dividends (in dollars per share) $ 0.04                  
[1]
Under certain provisions of ASC 810, the Company is required to separately disclose on its condensed consolidated balance sheets the assets owned by consolidated VIEs and liabilities of consolidated VIEs as to which neither Lennar Corporation, or any of its subsidiaries, has any obligations.
As of May 31, 2019, total liabilities include $928.9 million related to consolidated VIEs as to which there was no recourse against the Company, of which $17.3 million is included in Homebuilding accounts payable, $370.7 million in Homebuilding senior notes and other debts payable, $346.3 million in Homebuilding liabilities related to consolidated inventory not owned, $1.7 million in Homebuilding other liabilities, $190.6 million in Financial Services liabilities, $1.0 million in Multifamily liabilities and $1.3 million in Lennar Other liabilities.
As of November 30, 2018, total liabilities include $242.5 million related to consolidated VIEs as to which there was no recourse against the Company, of which $11.4 million is included in Homebuilding accounts payable, $51.9 million in Homebuilding senior notes and other debt payable, $175.6 million in Homebuilding liabilities related to consolidated inventory not owned, $2.6 million in Homebuilding other liabilities and $1.0 million in Lennar Other liabilities.