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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Nov. 30, 2024
Nov. 30, 2023
Total assets [1] $ 41,312,781 $ 39,234,303
Total liabilities [2] 13,291,556 12,532,337
Variable Interest Entity, Primary Beneficiary    
Total assets 3,700,000 1,900,000
Total liabilities $ 2,700,000 $ 1,200,000
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) 259,979,453 258,475,012
Treasury stock, shares (in shares) 23,814,148 11,207,889
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) 4,532,701 2,920,200
Homebuilding    
Total assets [1] $ 35,594,469 $ 33,628,392
Cash and cash equivalents [1] 4,662,643 6,273,724
Receivables, net [1] 1,053,211 887,992
Finished homes and construction in progress [1] 10,884,861 10,455,666
Land and land under development [1] 4,750,025 4,904,541
Consolidated inventory not owned [1] 4,084,665 2,992,528
Investments in unconsolidated entities [1] 1,344,836 1,143,909
Other assets [1] 1,734,698 1,512,038
Total liabilities [2] 10,863,209 9,727,994
Accounts payable [2] 1,839,440 1,631,401
Senior notes and other debts payable, net [2] 2,258,283 2,816,482
Liabilities related to consolidated inventory not owned [2] 3,563,934 2,540,894
Other liabilities [2] 3,201,552 2,739,217
Homebuilding | Variable Interest Entity, Primary Beneficiary    
Cash and cash equivalents 67,000 22,800
Receivables, net 6,000 1,800
Finished homes and construction in progress 9,700 18,300
Land and land under development 602,900 628,000
Inventory, Real Estate, Homebuilding deposits and pre-acquisition costs 71,800 55,000
Consolidated inventory not owned 2,800,000 1,200,000
Investments in unconsolidated entities 300 300
Other assets 42,300 23,000
Accounts payable 67,300 53,700
Senior notes and other debts payable, net 6,000  
Liabilities related to consolidated inventory not owned 2,600,000 1,100,000
Other liabilities 45,800 38,100
Lennar Other    
Total assets [1] 894,944 657,852
Total liabilities [2] 105,756 79,127
Multifamily    
Total assets [1] 1,306,818 1,381,513
Total liabilities [2] 181,883 278,177
Multifamily | Variable Interest Entity, Primary Beneficiary    
Total assets 33,900 32,600
Total liabilities $ 1,000 $ 4,100
[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, 2024, total assets include $3.7 billion related to consolidated VIEs of which $67.0 million is included in Homebuilding cash and cash equivalents, $6.0 million in Homebuilding receivables, net, $9.7 million in Homebuilding finished homes and construction in progress, $602.9 million in Homebuilding land and land under development, $2.8 billion in Homebuilding consolidated inventory not owned, $71.8 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities, $42.3 million in Homebuilding other assets and $33.9 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, $1.2 billion in Homebuilding consolidated inventory not owned, $55.0 million in Homebuilding deposits and pre-acquisition costs on real estate, $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 November 30, 2024, total liabilities include $2.7 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $67.3 million is included in Homebuilding accounts payable, $2.6 billion in Homebuilding liabilities related to consolidated inventory not owned, $6.0 million in Homebuilding senior notes and other debts payable, net, $45.8 million in Homebuilding other liabilities and $1.0 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.