Earnings Per Share (Tables)

3 Months Ended

Feb. 29, 2020

Schedule of Calculation of Numerator and Denominator In Earnings Per Share

Basic and diluted earnings per share were calculated as follows:



	Three Months Ended
	February 29,		February 28,
(In thousands, except per share amounts)	2020		2019
Numerator:
Net earnings attributable to Lennar	$	398,452	239,910
Less: distributed earnings allocated to nonvested shares	334		99
Less: undistributed earnings allocated to nonvested shares	4,092		1,860
Numerator for basic earnings per share	394,026		237,951
Less: net amount attributable to noncontrolling interests in Rialto's Carried Interest Incentive Plan (1)	—		323
Numerator for diluted earnings per share	$	394,026	237,628
Denominator:
Denominator for basic earnings per share - weighted average common shares outstanding	311,213		321,339
Effect of dilutive securities:
Shared based payments	2		10
Denominator for diluted earnings per share - weighted average common shares outstanding	311,215		321,349
Basic earnings per share	$	1.27	0.74
Diluted earnings per share	$	1.27	0.74

(1)

The amounts presented relate to Rialto's Carried Interest Incentive Plan and represent the difference between the advanced tax distributions received from the Rialto funds included in the Lennar Other segment and the amount Lennar is assumed to own.