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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
May 31, 2020
May 31, 2019
May 31, 2020
May 31, 2019
Revenues:        
Revenues $ 5,287,373 $ 5,562,890 $ 9,792,710 $ 9,430,972
Cost and expenses:        
Corporate general and administrative 83,451 76,113 170,298 155,456
Total costs and expenses 4,629,538 4,963,281 8,705,457 8,508,598
Equity in earnings (loss) from unconsolidated entities     (40,355) 5,908
Financial Services gain on deconsolidation     61,418 0
Earnings before income taxes 676,577 559,399 1,100,129 878,523
Provision for income taxes (160,479) (140,530) (192,808) (220,230)
Net earnings (including net loss attributable to noncontrolling interests) 516,098 418,869 907,321 658,293
Less: Net loss attributable to noncontrolling interests (1,308) (2,603) (8,537) (3,089)
Net earnings attributable to Lennar 517,406 421,472 915,858 661,382
Other comprehensive income (loss), net of tax:        
Net unrealized gain (loss) on securities available-for-sale (338) 561 (384) 769
Reclassification adjustments for gains included in earnings, net of tax (452) (176) (452) (176)
Total other comprehensive income (loss), net of tax (790) 385 (836) 593
Total comprehensive income attributable to Lennar 516,616 421,857 915,022 661,975
Total comprehensive loss attributable to noncontrolling interests $ (1,308) $ (2,603) $ (8,537) $ (3,089)
Basic earnings per share (in dollars per share) $ 1.66 $ 1.31 $ 2.92 $ 2.05
Diluted earnings per share (in dollars per share) $ 1.65 $ 1.30 $ 2.91 $ 2.03
Homebuilding        
Revenues:        
Revenues $ 4,949,484 $ 5,195,599 $ 9,121,600 $ 8,819,320
Cost and expenses:        
Cost and expenses 4,313,331 4,587,259 8,011,137 7,826,094
Equity in earnings (loss) from unconsolidated entities (9,100) 19,614 (13,646) 5,858
Other income (expense), net 4,308 (46,165) (5,058) (47,700)
Financial Services        
Revenues:        
Revenues 196,263 204,216 394,924 347,527
Cost and expenses:        
Cost and expenses 110,355 147,999 261,699 272,338
Financial Services gain on deconsolidation 61,418   61,418  
Multifamily        
Revenues:        
Revenues 123,117 147,412 255,734 244,806
Cost and expenses:        
Cost and expenses 123,473 148,716 260,821 249,894
Equity in earnings (loss) from unconsolidated entities (282) (3,018) 6,234 7,563
Lennar Other        
Revenues:        
Revenues 18,509 15,663 20,452 19,319
Cost and expenses:        
Cost and expenses (1,072) 3,194 1,502 4,816
Equity in earnings (loss) from unconsolidated entities (26,642) (4,978) (26,523) 3,352
Other income (expense), net (10,960) (5,663) (9,549) (12,924)
Operating Segments | Homebuilding        
Revenues:        
Revenues 4,949,484 5,195,599 9,121,600 8,819,320
Cost and expenses:        
Cost and expenses 4,313,331 4,587,259 8,011,137 7,826,094
Corporate general and administrative 0 0 0 0
Equity in earnings (loss) from unconsolidated entities (9,100) 19,614 (13,646) 5,858
Other income (expense), net 4,308 (46,165) (5,058) (47,700)
Earnings before income taxes 631,361 581,789 1,091,759 951,384
Operating Segments | Financial Services        
Revenues:        
Revenues 196,263 204,216 394,924 347,527
Cost and expenses:        
Cost and expenses 110,355 147,999 261,699 272,338
Corporate general and administrative 0 0 0 0
Financial Services gain on deconsolidation 61,418 0 61,418 0
Earnings before income taxes 147,326 56,217 194,643 75,189
Operating Segments | Multifamily        
Revenues:        
Revenues 123,117 147,412 255,734 244,806
Cost and expenses:        
Cost and expenses 123,473 148,716 260,821 249,894
Corporate general and administrative 0 0 0 0
Equity in earnings (loss) from unconsolidated entities and other gain (282) (3,018) 6,234 7,563
Earnings before income taxes (638) (4,322) 1,147 2,475
Operating Segments | Lennar Other        
Revenues:        
Revenues 18,509 15,663 20,452 19,319
Cost and expenses:        
Cost and expenses (1,072) 3,194 1,502 4,816
Corporate general and administrative 0 0 0 0
Equity in earnings (loss) from unconsolidated entities (26,642) (4,978) (26,523) 3,352
Other income (expense), net (10,960) (5,663) (9,549) (12,924)
Earnings before income taxes (18,021) 1,828 (17,122) 4,931
Operating Segments | Other        
Revenues:        
Revenues $ 13,190 $ 8,237 $ 21,467 $ 10,664