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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Feb. 29, 2020
Nov. 30, 2019
Total assets [1] $ 29,173,699 $ 29,359,511
Cash and cash equivalents 1,052,482 1,445,996
Receivables, net 674,077 906,877
Investments in unconsolidated entities 1,942,541 1,973,913
Other assets 1,336,905 1,245,391
Total liabilities [2] 12,980,322 13,325,681
Other liabilities $ 3,859,494 $ 3,751,985
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 298,018,470 297,119,153
Treasury stock, shares 23,400,879 18,964,973
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 39,443,101 39,443,064
Treasury stock, shares 1,819,826 1,704,630
Homebuilding    
Total assets [1] $ 25,199,840 $ 24,789,239
Cash and cash equivalents [1] 784,950 1,200,832
Receivables, net [1] 311,817 329,124
Finished homes and construction in progress [1] 10,110,009 9,195,721
Land and land under development [1] 8,116,047 8,267,647
Consolidated inventory not owned [1] 417,424 313,139
Investments in unconsolidated entities [1] 946,716 1,009,035
Other assets [1] 1,061,852 1,021,684
Total liabilities [2] 11,395,095 11,007,038
Accounts payable [2] 1,180,708 1,069,179
Senior notes and other debts payable, net [2] 8,115,498 7,776,638
Liabilities related to consolidated inventory not owned [2] 365,284 260,266
Other liabilities [2] 1,733,605 1,900,955
Financial Services    
Total assets [1] 2,375,564 3,006,024
Total liabilities [2] 1,358,723 2,056,450
Multifamily    
Total assets [1] 1,113,903 1,068,831
Total liabilities [2] 201,992 232,155
Lennar Other    
Total assets [1] 484,392 495,417
Total liabilities [2] 24,512 30,038
Variable Interest Entity, Primary Beneficiary    
Total assets 1,200,000 980,200
Total liabilities 669,400 549,700
Variable Interest Entity, Primary Beneficiary | Homebuilding    
Cash and cash equivalents 12,900 15,500
Receivables, net 100 200
Finished homes and construction in progress 104,400 97,500
Land and land under development 292,500 283,200
Consolidated inventory not owned 406,100 301,000
Investments in unconsolidated entities 2,700 2,500
Other assets 7,300 10,000
Accounts payable 8,900 13,700
Senior notes and other debts payable, net [2] 68,300 47,100
Liabilities related to consolidated inventory not owned 353,500 247,500
Other liabilities 8,900 8,900
Variable Interest Entity, Primary Beneficiary | Financial Services    
Other assets 259,900 221,200
Total liabilities 218,500 231,100
Variable Interest Entity, Primary Beneficiary | Multifamily    
Total assets 74,200 49,100
Total liabilities $ 11,300 $ 1,400
[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 February 29, 2020, total assets include $1.2 billion related to consolidated VIEs of which $12.9 million is included in Homebuilding cash and cash equivalents, $0.1 million in Homebuilding receivables, net, $104.4 million in Homebuilding finished homes and construction in progress, $292.5 million in Homebuilding land and land under development, $406.1 million in Homebuilding consolidated inventory not owned, $2.7 million in Homebuilding investments in unconsolidated entities, $7.3 million in Homebuilding other assets, $259.9 million in Financial Services assets and $74.2 million in Multifamily assets.
As of November 30, 2019, total assets include $980.2 million related to consolidated VIEs of which $15.5 million is included in Homebuilding cash and cash equivalents, $0.2 million in Homebuilding receivables, net, $97.5 million in Homebuilding finished homes and construction in progress, $283.2 million in Homebuilding land and land under development, $301.0 million in Homebuilding consolidated inventory not owned, $2.5 million in Homebuilding investments in unconsolidated entities, $10.0 million in Homebuilding other assets, $221.2 million in Financial Services assets and $49.1 million in Multifamily 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 February 29, 2020, total liabilities include $669.4 million related to consolidated VIEs as to which there was no recourse against the Company, of which $8.9 million is included in Homebuilding accounts payable, $353.5 million in Homebuilding liabilities related to consolidated inventory not owned, $68.3 million in Homebuilding senior notes and other debts payable, $8.9 million in Homebuilding other liabilities, $218.5 million in Financial Services liabilities and $11.3 million in Multifamily liabilities.
As of November 30, 2019, total liabilities include $549.7 million related to consolidated VIEs as to which there was no recourse against the Company, of which $13.7 million is included in Homebuilding accounts payable, $247.5 million in Homebuilding liabilities related to consolidated inventory not owned, $47.1 million in Homebuilding senior notes and other debt payable, $8.9 million in Homebuilding other liabilities, $231.1 million in Financial Services liabilities and $1.4 million in Multifamily liabilities.