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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Aug. 31, 2019
Aug. 31, 2018
Aug. 31, 2019
Aug. 31, 2018
Revenues:        
Revenues $ 5,857,058 $ 5,672,569 $ 15,288,030 $ 14,112,421
Cost and expenses:        
Acquisition and integration costs related to CalAtlantic 0 11,992 0 140,062
Corporate general and administrative 92,615 96,346 248,071 249,071
Total costs and expenses 5,208,701 5,101,824 13,717,299 13,049,625
Equity in earnings (loss) from unconsolidated entities     12,235 (8,115)
Earnings before income taxes 667,083 565,918 1,545,606 1,226,156
Provision for income taxes [1] (154,440) (98,298) (374,670) (306,870)
Net earnings (including net earnings (loss) attributable to noncontrolling interests) 512,643 467,620 1,170,936 919,286
Less: Net earnings (loss) attributable to noncontrolling interests (723) 14,409 (3,812) 19,603
Net earnings attributable to Lennar 513,366 453,211 1,174,748 899,683
Other comprehensive income (loss), net of tax:        
Net unrealized gain (loss) on securities available-for-sale 180 (110) 949 (1,357)
Reclassification adjustments for loss included in earnings, net of tax 0 (166) (176) (292)
Total other comprehensive income (loss), net of tax 180 (276) 773 (1,649)
Total comprehensive income attributable to Lennar 513,546 452,935 1,175,521 898,034
Total comprehensive income (loss) attributable to noncontrolling interests $ (723) $ 14,409 $ (3,812) $ 19,603
Basic earnings per share (in dollars per share) $ 1.60 $ 1.37 $ 3.64 $ 2.95
Diluted earnings per share (in dollars per share) $ 1.59 $ 1.37 $ 3.63 $ 2.94
Loss on consolidation of previously unconsolidated entity     $ 48,874 $ 0
Write down of deferred tax asset resulting from Tax Cuts and Jobs Act       68,600
Homebuilding        
Revenues:        
Revenues $ 5,438,998 $ 5,285,742 14,258,318 13,011,832
Cost and expenses:        
Cost and expenses 4,781,932 4,671,088 12,608,026 11,711,184
Equity in earnings (loss) from unconsolidated entities (10,459) (16,739) (4,601) (43,537)
Other income (expense), net 12,375 10,839 (35,325) 190,713
Financial Services        
Revenues:        
Revenues 224,502 258,208 572,029 704,004
Cost and expenses:        
Cost and expenses 149,804 197,693 422,142 561,853
Multifamily        
Revenues:        
Revenues 183,958 101,064 428,764 312,013
Cost and expenses:        
Cost and expenses 181,616 103,187 431,510 317,572
Equity in earnings (loss) from unconsolidated entities 7,883 (1,730) 15,446 15,293
Lennar Other        
Revenues:        
Revenues 9,600 27,555 28,919 84,572
Cost and expenses:        
Cost and expenses 2,734 21,518 7,550 69,883
Equity in earnings (loss) from unconsolidated entities 8,903 6,614 12,255 20,129
Other income (expense), net 24 (3,811) (12,900) (19,238)
Earnings before income taxes       1,226,156
Operating Segments | Homebuilding        
Revenues:        
Revenues 5,438,998 5,285,742 14,258,318 13,011,832
Cost and expenses:        
Cost and expenses 4,781,932 4,671,088 12,608,026 11,711,184
Equity in earnings (loss) from unconsolidated entities (10,459) (16,739) (4,601) (43,537)
Other income (expense), net [2] 12,375 10,839 (35,325) 190,713
Operating Segments | Financial Services        
Revenues:        
Revenues 224,502 258,208 572,029 704,004
Cost and expenses:        
Cost and expenses 149,804 197,693 422,142 561,853
Operating Segments | Multifamily        
Revenues:        
Revenues 183,958 101,064 428,764 312,013
Cost and expenses:        
Cost and expenses 181,616 103,187 431,510 317,572
Equity in earnings (loss) from unconsolidated entities and other gain 7,883 (1,730) 15,446 15,293
Operating Segments | Lennar Other        
Revenues:        
Revenues 9,600 27,555 28,919 84,572
Cost and expenses:        
Cost and expenses 2,734 21,518 7,550 69,883
Equity in earnings (loss) from unconsolidated entities 8,903 6,614 12,255 20,129
Other income (expense), net 24 (3,811) (12,900) (19,238)
Operating Segments | Homebuilding Other        
Revenues:        
Revenues $ 93,876 $ 9,498 104,540 $ 35,356
Other comprehensive income (loss), net of tax:        
Loss on consolidation of previously unconsolidated entity     $ 48,900  
[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]
Homebuilding other expense, net for the nine months ended August 31, 2019 includes a one-time loss of $48.9 million relating to the consolidation of a previously unconsolidated entity.