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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Aug. 31, 2019
Nov. 30, 2018
Total assets [1] $ 29,459,447 $ 28,566,181
Total liabilities [2] $ 13,993,500 $ 13,883,224
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized 400,000,000 400,000,000
Common stock, shares issued 297,089,399 294,992,562
Treasury stock, shares 17,208,640 8,498,203
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized 90,000,000 90,000,000
Common stock, shares issued 39,442,650 39,442,219
Treasury stock, shares 1,704,303 1,698,424
Homebuilding    
Total assets [1] $ 25,555,851 $ 24,324,093
Cash and cash equivalents [1] 795,405 1,337,807
Receivables, net [1] 295,418 236,841
Finished homes and construction in progress [1] 10,256,011 8,681,357
Land and land under development [1] 8,240,076 8,178,388
Consolidated inventory not owned [1] 352,083 208,959
Investments in unconsolidated entities [1] 1,002,936 870,201
Other assets [1] 1,158,325 1,355,782
Total liabilities [2] 12,300,363 11,776,898
Accounts payable [2] 1,092,708 1,154,782
Senior notes and other debts payable [2] 9,075,016 8,543,868
Liabilities related to consolidated inventory not owned [2] 298,724 175,590
Other liabilities [2] 1,833,915 1,902,658
Financial Services    
Total assets [1] 2,329,786 2,778,910
Cash and cash equivalents 228,217 188,485
Receivables, net 255,083 731,169
Other assets 121,958 125,886
Total liabilities [2] 1,455,456 1,868,202
Other liabilities 299,378 309,500
Multifamily    
Total assets [1] 1,020,842 874,219
Cash and cash equivalents 16,478 7,832
Receivables, net 78,016 73,829
Land and land under development 284,595 277,894
Investments in unconsolidated entities 539,697 481,129
Other assets 102,056 33,535
Total liabilities [2] 213,054 170,616
Lennar Other    
Total assets [1] 552,968 588,959
Cash and cash equivalents 5,362 24,334
Investments in unconsolidated entities 447,734 424,104
Other assets 35,151 47,740
Total liabilities [2] 24,627 67,508
Other liabilities 9,496 53,020
Variable Interest Entity, Primary Beneficiary    
Total assets 1,000,000 666,200
Total liabilities 577,700 242,500
Variable Interest Entity, Primary Beneficiary | Homebuilding    
Cash and cash equivalents 15,300 57,600
Receivables, net 200 200
Finished homes and construction in progress 108,900 81,700
Land and land under development 242,900 293,100
Consolidated inventory not owned 352,100 209,000
Investments in unconsolidated entities 4,100 3,800
Other assets 6,000 10,500
Accounts payable 7,800 11,400
Senior notes and other debts payable [2] 47,100 51,900
Liabilities related to consolidated inventory not owned 298,700 175,600
Other liabilities 4,300 2,600
Variable Interest Entity, Primary Beneficiary | Financial Services    
Other assets 222,000  
Total liabilities 218,500  
Variable Interest Entity, Primary Beneficiary | Multifamily    
Total assets 50,700  
Total liabilities $ 1,200  
Variable Interest Entity, Primary Beneficiary | Lennar Other    
Total assets   10,300
Total liabilities   $ 1,000
[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, 2019, total assets include $1.0 billion related to consolidated VIEs of which $15.3 million is included in Homebuilding cash and cash equivalents, $0.2 million in Homebuilding receivables, net, $108.9 million in Homebuilding finished homes and construction in progress, $242.9 million in Homebuilding land and land under development, $352.1 million in Homebuilding consolidated inventory not owned, $4.1 million in Homebuilding investments in unconsolidated entities, $6.0 million in Homebuilding other assets, $222.0 million in Financial Services assets and $50.7 million in Multifamily assets.
As of November 30, 2018, total assets include $666.2 million related to consolidated VIEs of which $57.6 million is included in Homebuilding cash and cash equivalents, $0.2 million in Homebuilding receivables, net, $81.7 million in Homebuilding finished homes and construction in progress, $293.1 million in Homebuilding land and land under development, $209.0 million in Homebuilding consolidated inventory not owned, $3.8 million in Homebuilding investments in unconsolidated entities, $10.5 million in Homebuilding other assets and $10.3 million in Lennar Other 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 VIEs and liabilities of consolidated VIEs as to which neither Lennar Corporation, or any of its subsidiaries, has any obligations.
As of August 31, 2019, total liabilities include $577.7 million related to consolidated VIEs as to which there was no recourse against the Company, of which $7.8 million is included in Homebuilding accounts payable, $47.1 million in Homebuilding senior notes and other debts payable, $298.7 million in Homebuilding liabilities related to consolidated inventory not owned, $4.3 million in Homebuilding other liabilities, $218.5 million in Financial Services liabilities and $1.2 million in Multifamily 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.