Company: LEN
Filing Date: 2025-04-04
Form Type: 10-Q
Source: 0001628280-25-016792
Chunk: 2

Company: LENNAR CORP /NEW/
Filing Date: 2025-04-04
Form: 10-Q
Item: Item 1
Chunk 2
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 $0.10 par value; Authorized: February 28, 2025 and November 30, 2024 - 90,000,000 shares; Issued: February 28, 2025 - 36,601,215 shares and November 30, 2024 - 36,601,215 shares3,660 3,660 Additional paid-in capital5,812,802 5,729,434 Retained earnings21,302,131 25,753,078 Treasury stock, at cost; February 28, 2025 - 29,146,431 shares of Class A common stock and 4,991,506 shares of Class B common stock; November 30, 2024 - 23,814,148 shares of Class A common stock and 4,532,701 shares of Class B common stock(4,424,039)(3,649,564)Accumulated other comprehensive income7,351 7,529 Total stockholders’ equity22,728,038 27,870,135 Noncontrolling interests139,306 151,090 Total equity22,867,344 28,021,225 Total liabilities and equity$34,986,103 41,312,781 

(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. 

See accompanying notes to condensed consolidated financial statements.4

Lennar Corporation and SubsidiariesCondensed Consolidated Statements of Operations