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Stockholders' Equity
 6 Months Ended
May 31, 2022
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 and six months ended May 31, 2022 and 2021:
Three Months Ended May 31, 2022
(In thousands)Total
Equity		Class A
Common Stock		Class B
Common Stock		Additional
Paid - in Capital		Treasury
Stock		Accumulated Other Comprehensive IncomeRetained
Earnings		Noncontrolling
Interests
Balance at February 28, 2022$20,847,432 30,243 3,944 8,855,151 (3,290,748)1,686 15,078,788 168,368 
Net earnings (including net earnings attributable to noncontrolling interests)1,322,558 — — — — — 1,320,756 1,802 
Employee stock and directors plans
(2,533)6 — 994 (3,533)— — — 
Retirement of treasury stock— (4,667)(284)(3,533,425)3,538,376 — — — 
Purchases of treasury stock(320,710)— — — (320,710)— — — 
Amortization of restricted stock
35,053 — — 35,053 — — — — 
Cash dividends(110,846)— — — — — (110,846)— 
Receipts related to noncontrolling interests
11,111 — — — — — — 11,111 
Payments related to noncontrolling interests
(3,708)— — — — — — (3,708)
Non-cash purchase or activity of noncontrolling interests, net11,355 — — (2,591)— — — 13,946 
Total other comprehensive income, net of tax62 — — — — 62 — — 
Balance at May 31, 2022$21,789,774 25,582 3,660 5,355,182 (76,615)1,748 16,288,698 191,519 
Three Months Ended May 31, 2021
(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 February 28, 2021$19,017,451 30,047 3,944 8,724,192 (1,348,710)(1,747)11,488,520 121,205 
Net earnings (including net earnings attributable to noncontrolling interests)836,772 — — — — — 831,363 5,409 
Employee stock and directors plans
(4,537)2 — 1,165 (5,704)— — — 
Purchases of treasury stock(98,460)— — — (98,460)— — — 
Amortization of restricted stock
32,276 — — 32,276 — — — — 
Cash dividends(78,483)— — — — — (78,483)— 
Receipts related to noncontrolling interests
5,009 — — — — — — 5,009 
Payments related to noncontrolling interests
(5,829)— — — — — — (5,829)
Non-cash purchase or activity of noncontrolling interests, net(2,417)— — (2,613)— — — 196 
Total other comprehensive income, net of tax316 — — — — 316 — — 
Balance at May 31, 2021$19,702,098 30,049 3,944 8,755,020 (1,452,874)(1,431)12,241,400 125,990 
Six Months Ended May 31, 2022
(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, 2021$20,996,282 30,050 3,944 8,807,891 (2,709,448)(1,341)14,685,329 179,857 
Net earnings (including net earnings attributable to noncontrolling interests)1,831,873 — — — — — 1,824,337 7,536 
Employee stock and directors plans
(57,419)199 — 854 (58,472)— — — 
Retirement of treasury stock— (4,667)(284)(3,533,425)3,538,376 — — — 
Purchases of treasury stock(847,071)— — — (847,071)— — — 
Amortization of restricted stock
116,510 — — 116,510 — — — — 
Cash dividends(220,968)— — — — — — (220,968)— 
Receipts related to noncontrolling interests
18,095 — — — — — — 18,095 
Payments related to noncontrolling interests
(65,521)— — — — — — (65,521)
Non-cash purchase or activity of noncontrolling interests, net14,904 — — (36,648)— — — 51,552 
Total other comprehensive income, net of tax3,089 — — — — 3,089 — — 
Balance at May 31, 2022$21,789,774 25,582 3,660 5,355,182 (76,615)1,748 16,288,698 191,519 
Six Months Ended May 31, 2021
(In thousands)Total
Equity		Class A
Common Stock		Class B
Common Stock		Additional
Paid - in Capital		Treasury
Stock		Accumulated Other Comprehensive LossRetained
Earnings		Noncontrolling
Interests
Balance at November 30, 2020$18,099,401 29,894 3,944 8,676,056 (1,279,227)(805)10,564,994 104,545 
Net earnings (including net earnings attributable to noncontrolling interests)1,853,681 — — — — — 1,832,732 20,949 
Employee stock and directors plans
(30,816)155 — 1,106 (32,077)— — — 
Purchases of treasury stock(141,570)— — — (141,570)— — — 
Amortization of restricted stock
81,094 — — 81,094 — — — — 
Cash dividends(156,326)— — — — — — (156,326)— 
Receipts related to noncontrolling interests
13,905 — — — — — — 13,905 
Payments related to noncontrolling interests
(17,226)— — — — — — (17,226)
Non-cash purchase or activity of noncontrolling interests, net581 — — (3,236)— — — 3,817 
Total other comprehensive loss, net of tax(626)— — — — (626)— — 
Balance at May 31, 2021$19,702,098 30,049 3,944 8,755,020 (1,452,874)(1,431)12,241,400 125,990 
On June 22, 2022, the Company's Board of Directors declared a quarterly cash dividend of $0.375 per share on both its Class A and Class B common stock, payable on July 21, 2022 to holders of record at the close of business on July 7, 2022. On May 10, 2022, the Company paid cash dividends of $0.375 per share on both its Class A and Class B common stock to holders of record at the close of business on April 26, 2022, as declared by its Board of Directors on April 12, 2022. The Company approved and paid cash dividends of $0.250 per share for each of the four quarters of 2021 on both its Class A and Class B common stock.
During the three months ended May 31, 2022, the Company retired 46.7 million and 2.8 million treasury shares of Class A and Class B common stock, respectively, as authorized by the Company's Board of Directors. The retirement of Class A and Class B common stock in treasury resulted in a reclass between treasury stock and additional paid-in capital within stockholders' equity.
In October 2021, the Company's Board of Directors authorized an increase to the Company's stock repurchase program to enable the Company to repurchase up to the lesser of an additional $1 billion in value or 25 million in shares, of its outstanding Class A or Class B common stock. As a result of prior authorizations being almost exhausted, in March 2022, the Company's Board of Directors approved an additional authorization for the Company to repurchase up to the lesser of $2 billion in value, or 30 million in shares, of its outstanding Class A or Class B common stock. The repurchase authorization has no expiration date. The following table represents the repurchases of the Company's Class A and Class B common stocks under the authorized repurchase programs for the three and six months ended May 31, 2022 and 2021:
Three Months EndedSix Months Ended
May 31,May 31
2022202120222021
(Dollars in thousands, except price per share)Class AClass BClass AClass BClass AClass BClass AClass B
Shares repurchased3,630,000 470,000 1,000,000 — 8,246,000 1,122,000 1,510,000 — 
Total purchase price$289,358 $31,270 $98,440 $— $762,282 $84,601 $141,540 $— 
Average price per share$79.71 $66.53 $98.44 $— $92.44 $75.40 $93.73 $—