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Variable Interest Entities (Narrative) (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
May 31, 2026
May 31, 2026
Nov. 30, 2025
Variable Interest Entity [Line Items]      
Total liabilities [1] $ 11,935,729 $ 11,935,729 $ 12,289,828
Assets [2] 33,701,455 33,701,455 34,430,437
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Spinoff | Millrose      
Variable Interest Entity [Line Items]      
Disposal Group, Including Discontinued Operation, Real Estate Option Contracts 1,200,000 1,200,000  
Homebuilding      
Variable Interest Entity [Line Items]      
Total liabilities [1] 9,615,700 9,615,700 10,065,422
Consolidated inventory not owned [2] 1,488,684 1,488,684 1,696,401
Deposits and pre-acquisition costs on real estate 7,061,935 7,061,935 6,383,633
Liabilities related to consolidated inventory not owned [1] 1,312,689 1,312,689 1,476,376
Assets [2] 28,976,180 28,976,180 29,253,256
Land Bank | Homebuilding      
Variable Interest Entity [Line Items]      
Consolidated inventory not owned 379,200 379,200  
Deposits and pre-acquisition costs on real estate 2,600,000 2,600,000  
Liabilities related to consolidated inventory not owned 295,400 295,400  
Variable Interest Entity, Not Primary Beneficiary      
Variable Interest Entity [Line Items]      
Consolidated inventory not owned 958,400 958,400  
Consolidated inventory not owned, not recorded 530,300 530,300  
Decrease in liabilities related to inventory not owned   163,700  
Increase (Decrease) in Consolidated Inventory, Not Owned, Recorded 207,700    
Land Under Purchase Options Due to Maturing Contracts, Recorded 255,400 255,400  
Variable Interest Entity, Primary Beneficiary      
Variable Interest Entity [Line Items]      
Total liabilities 920,200 920,200 962,400
Assets 1,400,000 1,400,000 1,500,000
Variable Interest Entity, Primary Beneficiary | Homebuilding      
Variable Interest Entity [Line Items]      
Consolidated inventory not owned 958,400 958,400 984,400
Liabilities related to consolidated inventory not owned $ 907,700 $ 907,700 $ 930,100
[1] As of May 31, 2026, total liabilities include $920.2 million related to consolidated VIEs as to which there was no recourse against the Company, of which $9.3 million is included in Homebuilding accounts payable, $907.7 million in Homebuilding liabilities related to consolidated inventory not owned, $2.5 million in Homebuilding other liabilities, and $0.7 million in Multifamily liabilities.
As of November 30, 2025, total liabilities include $962.4 million related to consolidated VIEs as to which there was no recourse against the Company, of which $23.8 million is included in Homebuilding accounts payable, $930.1 million in Homebuilding liabilities related to consolidated inventory not owned, $6.0 million in Homebuilding senior notes and other debts payable, net, $1.5 million in Homebuilding other liabilities, and $1.0 million in Multifamily liabilities.
[2] 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, 2026, total assets include $1.4 billion related to consolidated VIEs of which $45.6 million is included in Homebuilding cash and cash equivalents, $31.5 million in Homebuilding finished homes and construction in progress, $223.3 million in Homebuilding land and land under development, $958.4 million in Homebuilding consolidated inventory not owned, $102.5 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities and $24.2 million in Multifamily assets.
As of November 30, 2025, total assets include $1.5 billion related to consolidated VIEs of which $61.1 million is included in Homebuilding cash and cash equivalents, $2.0 million in Homebuilding receivables, net, $45.6 million in Homebuilding finished homes and construction in progress, $300.3 million in Homebuilding land and land under development, $984.4 million in Homebuilding consolidated inventory not owned, $88.3 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities, $8.9 million in Homebuilding other assets and $25.0 million in Multifamily assets.