Stockholders' Equity (Tables)

6 Months Ended

May 31, 2024

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, 2024 and 2023:


	Three Months Ended May 31, 2024
(In thousands)	Total Equity		Class A Common Stock	Class B Common Stock	Additional Paid - in Capital	Treasury Stock	Accumulated Other Comprehensive Income	Retained Earnings	Noncontrolling Interests
Balance at February 29, 2024	$	26,777,930	25,983	3,660	5,651,836	(1,988,200)	5,241	22,949,315	130,095
Net earnings (including net earnings attributable to noncontrolling interests)	960,586		—	—	—	—	—	954,311	6,275
Employee stock and directors plans	(1,046)		13	—	1,277	(2,336)	—	—	—

Purchases of treasury stock	(607,270)		—	—	—	(607,270)	—	—	—




Amortization of restricted stock	34,506		—	—	34,506	—	—	—	—
Cash dividends	(138,931)		—	—	—	—	—	(138,931)	—

Receipts related to noncontrolling interests	8,926		—	—	—	—	—	—	8,926
Payments related to noncontrolling interests	(24,667)		—	—	—	—	—	—	(24,667)
Non-cash purchase or activity of noncontrolling interests, net	4,364		—	—	(12,886)	—	—	—	17,250



Total other comprehensive income, net of tax	1,355		—	—	—	—	1,355	—	—
Balance at May 31, 2024	$	27,015,753	25,996	3,660	5,674,733	(2,597,806)	6,596	23,764,695	137,879


	Three Months Ended May 31, 2023
(In thousands)	Total Equity		Class A Common Stock	Class B Common Stock	Additional Paid - in Capital	Treasury Stock	Accumulated Other Comprehensive Income	Retained Earnings	Noncontrolling Interests
Balance at February 28, 2023	$	24,555,287	25,834	3,660	5,503,789	(468,347)	3,259	19,350,060	137,032
Net earnings (including net earnings attributable to noncontrolling interests)	877,742		—	—	—	—	—	871,694	6,048
Employee stock and directors plans	4,229		9	—	1,631	2,589	—	—	—

Purchases of treasury stock	(209,928)		—	—	—	(209,928)	—	—	—



Amortization of restricted stock	40,173		—	—	40,173	—	—	—	—
Cash dividends	(110,386)		—	—	—	—	—	(110,386)	—

Receipts related to noncontrolling interests	2,421		—	—	—	—	—	—	2,421


Non-cash purchase or activity of noncontrolling interests, net	1,008		—	—	535	—	—	—	473


Total other comprehensive income, net of tax	573		—	—	—	—	573	—	—
Balance at May 31, 2023	$	25,161,119	25,843	3,660	5,546,128	(675,686)	3,832	20,111,368	145,974

The following table sets forth the repurchases of the Company's Class A and Class B common stock under the authorized repurchase programs:


	Three Months Ended May 31,								Six Months Ended May 31,

	2024				2023				2024				2023
(Dollars in thousands, except price per share amounts)	Class A		Class B		Class A		Class B		Class A		Class B		Class A		Class B
Shares repurchased	3,393,475		406,525		1,269,681		730,319		6,419,603		780,397		2,715,886		1,284,114
Total purchase price	$	543,276	$	59,570	$	138,800	$	69,010	$	998,064	$	111,207	$	281,868	$	115,116
Average price per share	$	160.09	$	146.54	$	109.32	$	94.49	$	155.47	$	142.50	$	103.78	$	89.65