Earnings Per Share (Tables)

3 Months Ended

Feb. 28, 2021

Schedule of Calculation of Numerator and Denominator In Earnings Per Share

Basic and diluted earnings per share were calculated as follows:


	Three Months Ended
(In thousands, except per share amounts)	February 28, 2021		February 29, 2020

Numerator:
Net earnings attributable to Lennar	$	1,001,369	398,452
Less: distributed earnings allocated to nonvested shares	630		334
Less: undistributed earnings allocated to nonvested shares	11,624		4,092
Numerator for basic earnings per share	989,115		394,026
Less: net amount attributable to Rialto's Carried Interest Incentive Plan (1)	553		—



Numerator for diluted earnings per share	$	988,562	394,026
Denominator:
Denominator for basic earnings per share - weighted average common shares outstanding	309,020		311,213
Effect of dilutive securities:
Shared based payments	—		2

Denominator for diluted earnings per share - weighted average common shares outstanding	309,020		311,215
Basic earnings per share	$	3.20	1.27
Diluted earnings per share	$	3.20	1.27

(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.