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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Nov. 30, 2023
Nov. 30, 2022
Total assets [1] $ 39,234,303 $ 37,984,295
Total liabilities [2] 12,532,337 13,743,928
Variable Interest Entity, Primary Beneficiary    
Total assets 1,900,000 1,400,000
Total liabilities $ 1,200,000 $ 620,400
Class A Common Stock    
Common stock, par value (in USD per share) $ 0.10 $ 0.10
Common stock, shares authorized (in shares) 400,000,000 400,000,000
Common stock, shares issued (in shares) 258,475,012 256,084,147
Treasury stock, shares (in shares) 11,207,889 2,455,387
Class B Common Stock    
Common stock, par value (in USD per share) $ 0.10 $ 0.10
Common stock, shares authorized (in shares) 90,000,000 90,000,000
Common stock, shares issued (in shares) 36,601,215 36,601,215
Treasury stock, shares (in shares) 2,920,200 419,860
Homebuilding    
Total assets [1] $ 33,628,392 $ 32,684,162
Cash and cash equivalents [1] 6,273,724 4,616,124
Receivables, net [1] 887,992 673,980
Finished homes and construction in progress [1] 10,455,666 11,718,507
Land and land under development [1] 4,904,541 5,648,548
Consolidated inventory not owned [1] 2,992,528 2,331,231
Investments in unconsolidated entities [1] 1,143,909 1,173,164
Other assets [1] 1,512,038 1,323,478
Total liabilities [2] 9,727,994 10,978,646
Accounts payable [2] 1,631,401 1,616,128
Senior notes and other debts payable, net [2] 2,816,482 4,047,294
Liabilities related to consolidated inventory not owned [2] 2,540,894 1,967,551
Other liabilities [2] 2,739,217 3,347,673
Homebuilding | Variable Interest Entity, Primary Beneficiary    
Cash and cash equivalents 22,800 56,900
Receivables, net 1,800 300
Finished homes and construction in progress 18,300 29,400
Land and land under development 628,000 687,800
Inventory, Real Estate, Homebuilding deposits and pre-acquisition costs 55,000 48,700
Consolidated inventory not owned 1,200,000 533,800
Investments in unconsolidated entities 300 1,000
Other assets 23,000 23,000
Accounts payable 53,700 66,900
Senior notes and other debts payable, net   29,400
Liabilities related to consolidated inventory not owned 1,100,000 510,900
Other liabilities 38,100 7,200
Lennar Other    
Total assets [1] 657,852 788,539
Total liabilities [2] 79,127 97,894
Multifamily    
Total assets [1] 1,381,513 1,257,337
Total liabilities [2] 278,177 313,484
Multifamily | Variable Interest Entity, Primary Beneficiary    
Total assets 32,600 33,200
Total liabilities $ 4,100 $ 3,800
[1] Under certain provisions of Accounting Standards Codification ("ASC") Topic 810, Consolidations, ("ASC 810") the Company is required to separately disclose on its consolidated balance sheets the assets of consolidated variable interest entities ("VIEs") that are owned by the consolidated VIEs and liabilities of consolidated VIEs as to which there is no recourse against the Company.
As of November 30, 2023, total assets include $1.9 billion related to consolidated VIEs of which $22.8 million is included in Homebuilding cash and cash equivalents, $1.8 million in Homebuilding receivables, net, $18.3 million in Homebuilding finished homes and construction in progress, $628.0 million in Homebuilding land and land under development, $55.0 million in Homebuilding deposits and pre-acquisition costs on real estate, $1.2 billion in Homebuilding consolidated inventory not owned, $0.3 million in Homebuilding investments in unconsolidated entities, $23.0 million in Homebuilding other assets and $32.6 million in Multifamily assets.
As of November 30, 2022, total assets include $1.4 billion related to consolidated VIEs of which $56.9 million is included in Homebuilding cash and cash equivalents, $0.3 million in Homebuilding receivables, net, $29.4 million in Homebuilding finished homes and construction in progress, $687.8 million in Homebuilding land and land under development, $48.7 million in Homebuilding deposits and pre-acquisition costs on real estate, $533.8 million in Homebuilding consolidated inventory not owned, $1.0 million in Homebuilding investments in unconsolidated entities, $23.0 million in Homebuilding other assets, $33.2 million in Multifamily assets and $9.0 million in Lennar Other assets.
[2] As of November 30, 2023, total liabilities include $1.2 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $53.7 million is included in Homebuilding accounts payable, $1.1 billion in Homebuilding liabilities related to consolidated inventory not owned, $38.1 million in Homebuilding other liabilities and $4.1 million in Multifamily liabilities.
As of November 30, 2022, total liabilities include $620.4 million related to consolidated VIEs as to which there was no recourse against the Company, of which $66.9 million is included in Homebuilding accounts payable, $510.9 million in Homebuilding liabilities related to consolidated inventory not owned, $29.4 million in Homebuilding senior notes and other debts payable, $7.2 million in Homebuilding other liabilities, $3.8 million in Multifamily liabilities and $2.2 million in Lennar Other liabilities.