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Stockholders' Equity
 3 Months Ended
Feb. 29, 2020
Equity [Abstract]  
Stockholders' Equity
Stockholders' Equity
The following tables reflect the changes in equity attributable to both Lennar Corporation and the noncontrolling interests of its consolidated subsidiaries in which it has less than a 100% ownership interest for the three months ended February 29, 2020 and February 28, 2019:
 
 
 
Three months ended February 29, 2020
 
 
(In thousands)
Total
Equity
 
Class A
Common Stock
 
Class B
Common Stock
 
Additional
Paid - in Capital
 
Treasury
Stock
 
Accumulated Other Comprehensive Income (Loss)
 
Retained
Earnings
 
Noncontrolling
Interests
Balance at November 30, 2019
$
16,033,830

 
29,712

 
3,944

 
8,578,219

 
(957,857
)
 
498

 
8,295,001

 
84,313

Net earnings (including net loss attributable to noncontrolling interests)
391,223

 
—

 
—

 
—

 
—

 
—

 
398,452

 
(7,229
)
Employee stock and directors plans
(7,424
)
 
90

 
—

 
(130
)
 
(7,384
)
 
—

 
—

 
—

Purchases of treasury stock
(288,515
)
 
—

 
—

 
—

 
(288,515
)
 
—

 
—

 
—

Amortization of restricted stock
31,855

 
—

 
—

 
31,855

 
—

 
—

 
—

 
—

Cash dividends
(39,240
)
 
—

 
—

 
—

 
—

 
—

 
(39,240
)
 
—

Receipts related to noncontrolling interests
88,913

 
—

 
—

 
—

 
—

 
—

 
—

 
88,913

Payments related to noncontrolling interests
(16,734
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(16,734
)
Non-cash consolidations, net
(485
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(485
)
Total other comprehensive loss, net of tax
(46
)
 
—

 
—

 
—

 
—

 
(46
)
 
—

 
—

Balance at February 29, 2020
$
16,193,377

 
29,802

 
3,944

 
8,609,944

 
(1,253,756
)
 
452

 
8,654,213

 
148,778

 
 
 
Three months ended February 28, 2019
 
 
(In thousands)
Total
Equity
 
Class A
Common Stock
 
Class B
Common Stock
 
Additional
Paid - in Capital
 
Treasury
Stock
 
Accumulated Other Comprehensive Income (Loss)
 
Retained
Earnings
 
Noncontrolling
Interests
Balance at November 30, 2018
$
14,682,957

 
29,499

 
3,944

 
8,496,677

 
(435,869
)
 
(366
)
 
6,487,650

 
101,422

Net earnings (including net loss attributable to noncontrolling interests)
239,424

 
—

 
—

 
—

 
—

 
—

 
239,910

 
(486
)
Employee stock and directors plans
(1,422
)
 
2

 
—

 
725

 
(2,149
)
 
—

 
—

 
—

Purchases of treasury stock
(46,998
)
 
—

 
—

 
—

 
(46,998
)
 
—

 
—

 
—

Amortization of restricted stock
16,899

 
—

 
—

 
16,899

 
—

 
—

 
—

 
—

Cash dividends
(12,860
)
 
—

 
—

 
—

 
—

 
—

 
(12,860
)
 
—

Receipts related to noncontrolling interests
8,348

 
—

 
—

 
—

 
—

 
—

 
—

 
8,348

Payments related to noncontrolling interests
(11,297
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(11,297
)
Non-cash consolidations, net
8,894

 
—

 
—

 
—

 
—

 
—

 
—

 
8,894

Cumulative-effect of accounting change
9,542

 
—

 
—

 
—

 
—

 
—

 
9,542

 
—

Total other comprehensive earnings, net of tax
208

 
—

 
—

 
—

 
—

 
208

 
—

 
—

Balance at February 28, 2019
$
14,893,695

 
29,501

 
3,944

 
8,514,301

 
(485,016
)
 
(158
)
 
6,724,242

 
106,881


On April 7, 2020, the Company's Board of Directors declared a quarterly cash dividend of $0.125 per share on both its Class A and Class B common stock, payable on May 5, 2020 to holders of record at the close of business on April 21, 2020. On February 7, 2020, the Company paid cash dividends of $0.125 per share on both its Class A and Class B common stock to holders of record at the close of business on January 24, 2020, as declared by its Board of Directors on January 9, 2020. The Company approved and paid cash dividends of $0.04 per share on both its Class A and Class B common stock in each quarter for the year ended November 30, 2019.
In January 2019, the Company's Board of Directors authorized the repurchase of up to the lesser of $1 billion in value, excluding commissions, or 25 million in shares, of the Company's outstanding Class A and Class B common stock. The repurchase has no expiration date. The following table represents the repurchase of the Company's Class A and Class B common stocks, under this program, for the three months ended February 29, 2020 and February 28, 2019:
 
 
Three Months Ended
 
 
February 29, 2020
 
February 28, 2019
(Dollars in thousands, except price per share)
 
Class A
 
Class B
 
Class A
 
Class B
Shares repurchased
 
4,250,000

 
115,000

 
1,000,000

 
—

Principal
 
$
282,274

 
$
6,155

 
$
46,998

 
$
—

Average price per share
 
$
66.42

 
$
53.52

 
$
46.98

 
$
—