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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Cash flows from operating activities:    
Net earnings (including net loss attributable to noncontrolling interests) $ 391,223 $ 239,424
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 20,414 18,362
Amortization of discount/premium and accretion on debt, net (6,943) (7,048)
Equity in loss from unconsolidated entities 2,572 5,710
Distributions of earnings from unconsolidated entities 36,922 3,489
Share-based compensation expense 31,855 16,899
Deferred income tax expense 57,006 65,879
Gain on sale of other assets, operating properties and equipment and real estate owned (2,910) (938)
Gain on sale of interest in unconsolidated entity and other Multifamily gain (4,661) (10,865)
Gain on sale of Financial Services' businesses 0 (1,663)
Valuation adjustments and write-offs of option deposits and pre-acquisition costs 24,515 6,910
Changes in assets and liabilities:    
Decrease in receivables 245,694 394,682
Increase in inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs (777,012) (1,073,322)
(Increase) decrease in other assets (121,506) 49,015
Decrease in loans held-for-sale 474,243 156,720
Increase (decrease) in accounts payable and other liabilities 11,564 (387,677)
Net cash provided by (used in) operating activities 382,976 (524,423)
Cash flows from investing activities:    
Net additions of operating properties and equipment (17,909) (27,395)
Proceeds from the sales of operating properties and equipment and other assets 13,067 0
Proceeds from sale of investment in unconsolidated entity 0 17,790
Proceeds from sale of Financial Services' businesses 0 24,446
Investments in and contributions to unconsolidated entities (78,607) (133,917)
Distributions of capital from unconsolidated and consolidated entities 86,324 70,080
Proceeds from sale of commercial mortgage-backed securities bonds 3,248 0
Decrease (increase) in Financial Services loans held-for-investment, net 2,733 (11,208)
Purchases of investment securities (8,107) (31,305)
Proceeds from maturities/sales of investments securities 10,753 9,442
Other receipts, net 1,677 4,079
Net cash provided by (used in) investing activities 13,179 (77,988)
Cash flows from financing activities:    
Proceeds from other borrowings 27,577 10,452
Principal payments on notes payable and other borrowings (93,250) (92,983)
Payments related to other liabilities (5,480) (447)
Receipts related to noncontrolling interests 88,913 8,348
Payments related to noncontrolling interests (16,734) (11,297)
Common stock:    
Issuances 0 607
Repurchases (295,988) (49,143)
Dividends (39,240) (12,860)
Net cash (used in) provided by financing activities (789,804) 69,022
Net decrease in cash and cash equivalents and restricted cash (393,649) (533,389)
Cash and cash equivalents and restricted cash at beginning of period 1,468,691 1,595,978
Cash and cash equivalents and restricted cash at end of period 1,075,042 1,062,589
Consolidation/deconsolidation of unconsolidated/consolidated entities, net:    
Operating properties and equipment and other assets (667) 51,603
Investments in unconsolidated entities 0 (4,755)
Notes payable 0 (36,110)
Other liabilities 182 (1,844)
Noncontrolling interests 485 (8,894)
Homebuilding    
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Equity in loss from unconsolidated entities 4,546 13,756
Lennar Other    
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Equity in loss from unconsolidated entities (119) (8,330)
Multifamily    
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Equity in loss from unconsolidated entities (6,516) (10,581)
Lennar Homebuilding and Lennar Multifamily    
Homebuilding and Multifamily:    
Purchases of inventories and other assets financed by sellers 75,365 46,144
Non-cash contributions to unconsolidated entities 13,859 0
Consolidating Adjustments    
Cash flows from operating activities:    
Net earnings (including net loss attributable to noncontrolling interests) (501,196) (303,183)
Changes in assets and liabilities:    
Net cash provided by (used in) operating activities (501,196) (303,183)
Cash flows from investing activities:    
Proceeds from the sales of operating properties and equipment and other assets 0  
Proceeds from sale of investment in unconsolidated entity   0
Proceeds from sale of Financial Services' businesses   0
Net cash provided by (used in) investing activities 672,022 1,121,791
Common stock:    
Issuances   0
Repurchases 0 0
Dividends 501,196 303,183
Net cash (used in) provided by financing activities (170,826) (818,608)
Net decrease in cash and cash equivalents and restricted cash 0 0
Cash and cash equivalents and restricted cash at beginning of period 0 0
Cash and cash equivalents and restricted cash at end of period 0 0
Consolidating Adjustments | Homebuilding    
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Equity in loss from unconsolidated entities 0 0
Consolidating Adjustments | Lennar Other    
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Equity in loss from unconsolidated entities 0 0
Consolidating Adjustments | Multifamily    
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Equity in loss from unconsolidated entities 0 0
Operating Segments    
Common stock:    
Cash and cash equivalents and restricted cash at end of period 1,075,042 1,062,589
Operating Segments | Homebuilding    
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Equity in loss from unconsolidated entities 4,546 13,756
Common stock:    
Cash and cash equivalents and restricted cash at end of period 793,616 865,426
Operating Segments | Financial Services    
Common stock:    
Cash and cash equivalents and restricted cash at end of period 260,606 166,751
Operating Segments | Lennar Other    
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Equity in loss from unconsolidated entities (119) (8,330)
Common stock:    
Cash and cash equivalents and restricted cash at end of period 5,030 16,818
Operating Segments | Multifamily    
Common stock:    
Cash and cash equivalents and restricted cash at end of period 15,790 13,594
Unsecured Revolving Credit Facility    
Cash flows from financing activities:    
Net borrowings (repayments) under credit facilities 300,000 725,000
Unsecured Revolving Credit Facility | Consolidating Adjustments    
Cash flows from financing activities:    
Net borrowings (repayments) under credit facilities 0 0
Warehouse Repurchase Facility    
Cash flows from financing activities:    
Net borrowings (repayments) under credit facilities (755,602) (508,655)
Warehouse Repurchase Facility | Consolidating Adjustments    
Cash flows from financing activities:    
Net borrowings (repayments) under credit facilities $ 0 $ 0