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Operating and Reporting Segments (Disclosure Of Assets and Liabilities) (Details) - USD ($)
$ in Thousands
Feb. 28, 2025
Nov. 30, 2024
Feb. 29, 2024
Segment Reporting Information [Line Items]      
Total assets [1] $ 34,986,103 $ 41,312,781  
Total liabilities [2] 12,118,759 13,291,556  
Equity securities without readily determinable fair values 133,500 143,000  
Millrose      
Segment Reporting Information [Line Items]      
Investments in unconsolidated entities $ 1,200,000    
Unconsolidated entities ownership percentage 20.00%    
Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents $ 2,516,772 4,909,664  
Restricted cash 71,243 80,546  
Receivables, net 1,533,608 1,652,558  
Inventory owned and consolidated inventory not owned 14,251,930 20,312,430  
Loans held-for-sale 1,835,897 2,250,718  
Investments in equity securities 245,628 347,810  
Investments available-for-sale 40,401 40,578  
Loans held-for-investment, net 52,674 60,969  
Investments held-to-maturity 134,369 135,646  
Deposits and pre-acquisition costs on real estate 5,172,084 3,658,015  
Investments in unconsolidated entities 3,493,795 2,227,574  
Goodwill 3,632,058 3,632,058  
Other assets 2,005,644 2,004,215  
Senior notes and other debts payable, net 3,608,397 4,189,239  
Liabilities related to consolidated inventory not owned 3,037,085 3,563,934  
Accounts payable and other liabilities 5,473,277 5,538,383  
Homebuilding      
Segment Reporting Information [Line Items]      
Cash and cash equivalents [1] 2,283,928 4,662,643  
Restricted cash [1] 22,487 11,799  
Receivables, net [1] 1,063,934 1,053,211  
Inventory owned and consolidated inventory not owned [1] 13,608,716 19,719,551  
Deposits and pre-acquisition costs on real estate 5,161,259 3,625,372  
Investments in unconsolidated entities [1] 2,645,734 1,344,836  
Goodwill [1] 3,442,359 3,442,359  
Other assets [1] 1,657,511 1,734,698  
Total assets [1] 29,885,928 35,594,469  
Senior notes and other debts payable, net [2] 2,211,272 2,258,283  
Liabilities related to consolidated inventory not owned [2] 3,037,085 3,563,934  
Total liabilities [2] 10,251,491 10,863,209  
Homebuilding | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 2,283,928 4,662,643 $ 4,950,128
Restricted cash 22,487 11,799 12,635
Receivables, net 1,063,934 1,053,211  
Inventory owned and consolidated inventory not owned 13,608,716 19,719,551  
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 5,161,259 3,625,372  
Investments in unconsolidated entities 2,645,734 1,344,836  
Goodwill 3,442,359 3,442,359  
Other assets 1,657,511 1,734,698  
Total assets 29,885,928 35,594,469  
Senior notes and other debts payable, net 2,211,272 2,258,283  
Liabilities related to consolidated inventory not owned 3,037,085 3,563,934  
Accounts payable and other liabilities 5,003,134 5,040,992  
Total liabilities 10,251,491 10,863,209  
Lennar Financial Services      
Segment Reporting Information [Line Items]      
Total assets [1] 3,000,778 3,516,550  
Total liabilities [2] 1,626,271 2,140,708  
Lennar Financial Services | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 188,833 175,382 233,846
Restricted cash 48,756 68,747 35,068
Receivables, net 426,410 545,752  
Inventory owned and consolidated inventory not owned 0 0  
Loans held-for-sale 1,835,897 2,250,718  
Investments in equity securities 0 0  
Investments available-for-sale 0 0  
Loans held-for-investment, net 52,674 60,969  
Investments held-to-maturity 134,369 135,646  
Deposits and pre-acquisition costs on real estate 0 0  
Investments in unconsolidated entities 0 0  
Goodwill 189,699 189,699  
Other assets 124,140 89,637  
Total assets 3,000,778 3,516,550  
Senior notes and other debts payable, net 1,397,125 1,930,956  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 229,146 209,752  
Total liabilities 1,626,271 2,140,708  
Multifamily      
Segment Reporting Information [Line Items]      
Total assets [1] 1,275,152 1,306,818  
Total liabilities [2] 141,380 181,883  
Multifamily | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 15,030 30,948 27,091
Restricted cash 0 0  
Receivables, net 43,264 53,595  
Inventory owned and consolidated inventory not owned 643,214 592,879  
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 10,825 32,643  
Investments in unconsolidated entities 472,668 503,303  
Goodwill 0 0  
Other assets 90,151 93,450  
Total assets 1,275,152 1,306,818  
Senior notes and other debts payable, net 0 0  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 141,380 181,883  
Total liabilities 141,380 181,883  
Lennar Other      
Segment Reporting Information [Line Items]      
Total assets [1] 824,245 894,944  
Total liabilities [2] 99,617 105,756  
Lennar Other | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 28,981 40,691 $ 2,700
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 245,628 347,810  
Investments available-for-sale 40,401 40,578  
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 375,393 379,435  
Goodwill 0 0  
Other assets 133,842 86,430  
Total assets 824,245 894,944  
Senior notes and other debts payable, net 0 0  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 99,617 105,756  
Total liabilities $ 99,617 $ 105,756  
[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 February 28, 2025, total assets include $3.0 billion related to consolidated VIEs of which $72.3 million is included in Homebuilding cash and cash equivalents, $4.4 million in Homebuilding receivables, net, $5.6 million in Homebuilding finished homes and construction in progress, $342.4 million in Homebuilding land and land under development, $2.5 billion in Homebuilding consolidated inventory not owned, $67.7 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities, $11.7 million in Homebuilding other assets and $35.5 million in Multifamily assets.
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.
[2] As of February 28, 2025, total liabilities include $2.4 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $67.8 million is included in Homebuilding accounts payable, $2.3 billion in Homebuilding liabilities related to consolidated inventory not owned, $6.0 million in Homebuilding senior notes and other debt payable, $0.8 million in Homebuilding other liabilities, and $1.0 million in Multifamily liabilities.
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.