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Operating and Reporting Segments (Disclosure Of Assets and Liabilities) (Details) - USD ($)
$ in Thousands
May 31, 2024
Nov. 30, 2023
May 31, 2023
Segment Reporting Information [Line Items]      
Total assets [1] $ 38,667,670 $ 39,234,303  
Total liabilities [2] 11,651,917 12,532,337  
Equity securities without readily determinable fair values 145,000 121,000  
Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 3,872,016 6,474,497  
Restricted cash 49,368 96,441  
Receivables, net 1,552,342 1,696,205  
Inventory owned and consolidated inventory not owned 20,509,714 18,897,670  
Loans held-for-sale 1,721,911 2,086,809  
Investments in equity securities 297,948 297,243  
Investments available-for-sale 39,669 37,953  
Loans held-for-investment, net 54,355 55,463  
Investments held-to-maturity 138,425 140,676  
Deposits and pre-acquisition costs on real estate 2,784,621 2,034,217  
Investments in unconsolidated entities 2,176,371 2,020,005  
Goodwill 3,632,058 3,632,058  
Other assets 1,838,872 1,765,066  
Senior notes and other debt payable, net 3,651,609 4,984,028  
Accounts payable, liabilities related to consolidated inventory not owned and other liabilities 8,000,308 7,548,309  
Homebuilding      
Segment Reporting Information [Line Items]      
Cash and cash equivalents [1] 3,597,493 6,273,724  
Restricted cash [1] 11,572 13,481  
Receivables, net [1] 898,301 887,992  
Inventory owned and consolidated inventory not owned [1] 19,901,500 18,352,735  
Deposits and pre-acquisition costs on real estate 2,754,819 2,002,154  
Investments in unconsolidated entities [1] 1,263,905 1,143,909  
Goodwill [1] 3,442,359 3,442,359  
Other assets [1] 1,540,507 1,512,038  
Total assets [1] 33,410,456 33,628,392  
Senior notes and other debt payable, net [2] 2,241,507 2,816,482  
Total liabilities [2] 9,709,516 9,727,994  
Homebuilding | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 3,597,493 6,273,724 $ 4,004,679
Restricted cash 11,572 13,481 19,000
Receivables, net 898,301 887,992  
Inventory owned and consolidated inventory not owned 19,901,500 18,352,735  
Loans held-for-sale 0 0  
Investments in equity securities 0 0  
Investments available-for-sale 0 0  
Loans held-for-investment, net 0 0  
Investments held-to-maturity 0 0  
Deposits and pre-acquisition costs on real estate 2,754,819 2,002,154  
Investments in unconsolidated entities 1,263,905 1,143,909  
Goodwill 3,442,359 3,442,359  
Other assets 1,540,507 1,512,038  
Total assets 33,410,456 33,628,392  
Senior notes and other debt payable, net 2,241,507 2,816,482  
Accounts payable, liabilities related to consolidated inventory not owned and other liabilities 7,468,009 6,911,512  
Total liabilities 9,709,516 9,727,994  
Lennar Financial Services      
Segment Reporting Information [Line Items]      
Total assets [1] 3,043,941 3,566,546  
Total liabilities [2] 1,583,363 2,447,039  
Lennar Financial Services | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 245,784 159,491 259,738
Restricted cash 37,796 82,960 9,113
Receivables, net 567,748 716,071  
Inventory owned and consolidated inventory not owned 0 0  
Loans held-for-sale 1,721,911 2,086,809  
Investments in equity securities 0 0  
Investments available-for-sale 0 0  
Loans held-for-investment, net 54,355 55,463  
Investments held-to-maturity 138,425 140,676  
Deposits and pre-acquisition costs on real estate 0 0  
Investments in unconsolidated entities 0 0  
Goodwill 189,699 189,699  
Other assets 88,223 135,377  
Total assets 3,043,941 3,566,546  
Senior notes and other debt payable, net 1,410,102 2,163,805  
Accounts payable, liabilities related to consolidated inventory not owned and other liabilities 173,261 283,234  
Total liabilities 1,583,363 2,447,039  
Multifamily      
Segment Reporting Information [Line Items]      
Total assets [1] 1,377,243 1,381,513  
Total liabilities [2] 246,776 278,177  
Multifamily | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 11,555 39,334 18,539
Restricted cash 0 0  
Receivables, net 86,293 92,142  
Inventory owned and consolidated inventory not owned 608,214 544,935  
Loans held-for-sale 0 0  
Investments in equity securities 0 0  
Investments available-for-sale 0 0  
Loans held-for-investment, net 0 0  
Investments held-to-maturity 0 0  
Deposits and pre-acquisition costs on real estate 29,802 32,063  
Investments in unconsolidated entities 561,892 599,852  
Goodwill 0 0  
Other assets 79,487 73,187  
Total assets 1,377,243 1,381,513  
Senior notes and other debt payable, net 0 3,741  
Accounts payable, liabilities related to consolidated inventory not owned and other liabilities 246,776 274,436  
Total liabilities 246,776 278,177  
Lennar Other      
Segment Reporting Information [Line Items]      
Total assets [1] 836,030 657,852  
Total liabilities [2] 112,262 79,127  
Lennar Other | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 17,184 1,948 $ 4,775
Restricted cash 0 0  
Receivables, net 0 0  
Inventory owned and consolidated inventory not owned 0 0  
Loans held-for-sale 0 0  
Investments in equity securities 297,948 297,243  
Investments available-for-sale 39,669 37,953  
Loans held-for-investment, net 0 0  
Investments held-to-maturity 0 0  
Deposits and pre-acquisition costs on real estate 0 0  
Investments in unconsolidated entities 350,574 276,244  
Goodwill 0 0  
Other assets 130,655 44,464  
Total assets 836,030 657,852  
Senior notes and other debt payable, net 0 0  
Accounts payable, liabilities related to consolidated inventory not owned and other liabilities 112,262 79,127  
Total liabilities $ 112,262 $ 79,127  
[1] Under certain provisions of Accounting Standards Codification (“ASC”) Topic 810, Consolidations (“ASC 810”), the Company is required to separately disclose on its condensed consolidated balance sheets the assets owned by consolidated variable interest entities (“VIEs”) and liabilities of consolidated VIEs as to which neither Lennar Corporation, nor any of its subsidiaries, has any obligations.
As of May 31, 2024, total assets include $3.0 billion related to consolidated VIEs of which $73.0 million is included in Homebuilding cash and cash equivalents, $5.9 million in Homebuilding receivables, net, $6.2 million in Homebuilding finished homes and construction in progress, $601.1 million in Homebuilding land and land under development, $75.5 million in Homebuilding deposits and pre-acquisition costs on real estate, $2.2 billion in Homebuilding consolidated inventory not owned, $0.3 million in Homebuilding investments in unconsolidated entities, $22.5 million in Homebuilding other assets and $33.6 million in Multifamily assets.
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.
[2] As of May 31, 2024, total liabilities include $2.1 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $56.1 million is included in Homebuilding accounts payable, $2.0 billion in Homebuilding liabilities related to consolidated inventory not owned, $6.0 million in Homebuilding senior notes and other debt payable, $46.7 million in Homebuilding other liabilities, and $0.9 million in Multifamily liabilities.
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.