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Investments in Unconsolidated Entities (Narrative) (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
May 31, 2024
May 31, 2024
Nov. 30, 2023
Upward America Venture      
Schedule of Equity Method Investments [Line Items]      
Total equity commitments $ 1,000,000 $ 1,000,000  
Upward America Venture      
Schedule of Equity Method Investments [Line Items]      
Total equity commitments 78,000 78,000  
Lennar's carrying value of investments 16,400 16,400 $ 14,800
Homebuilding      
Schedule of Equity Method Investments [Line Items]      
Non-recourse debt with completion guarantees 279,300 279,300 316,500
Lennar's carrying value of investments [1] 1,263,905 1,263,905 1,143,909
Multifamily      
Schedule of Equity Method Investments [Line Items]      
Non-recourse debt with completion guarantees 834,200 834,200 1,400,000
Multifamily | Lennar Multifamily Fund      
Schedule of Equity Method Investments [Line Items]      
Total equity commitments $ 1,000,000 $ 1,000,000  
Fund ownership percentage 4.00% 4.00%  
Lennar's carrying value of investments $ 24,600 $ 24,600  
Multifamily | LMV I      
Schedule of Equity Method Investments [Line Items]      
Total equity commitments 2,204,016 2,204,016  
Lennar's carrying value of investments 162,904 162,904  
Lennar Other | Rialto Funds and Investment Vehicles      
Schedule of Equity Method Investments [Line Items]      
Lennar's carrying value of investments 146,900 146,900 148,700
Gain on sales of investment 46,500 46,500  
Lennar Other | Strategic Technology Investments      
Schedule of Equity Method Investments [Line Items]      
Lennar's carrying value of investments $ 203,700 $ 203,700 $ 127,500
[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.