Company: LEN
Filing Date: 2025-07-01
Form Type: 10-Q
Source: 0001628280-25-033777
Chunk: 6

Company: LENNAR CORP /NEW/
Filing Date: 2025-07-01
Form: 10-Q
Item: Item 1
Chunk 6
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)(2,842)Receipts related to noncontrolling interests21,029 14,722 Payments related to noncontrolling interests(5,965)(26,646)Debt issuance costs(4,417)— Common stock:Repurchases(1,295,894)(1,204,706)Dividends(265,235)(278,318)Net cash used in financing activities(2,310,012)(2,984,396)Net decrease in cash and cash equivalents and restricted cash(3,511,195)(2,649,554)Cash and cash equivalents and restricted cash at beginning of period4,990,210 6,570,938 Cash and cash equivalents and restricted cash at end of period$1,479,015 3,921,384 Summary of cash and cash equivalents and restricted cash:Homebuilding$1,168,143 3,597,493 Financial Services202,647 245,784 Multifamily14,211 11,555 Lennar Other22,693 17,184 Homebuilding restricted cash23,987 11,572 Financial Services restricted cash47,334 37,796 $1,479,015 3,921,384 Supplemental disclosures of non-cash investing and financing activities:Homebuilding:Payments of inventories financed by sellers$320 9,245 Net non-cash contributions to unconsolidated entities162,454 — Non-cash impacts of Millrose Properties, Inc. spin-off:Inventories$(5,578,704)— Investments in unconsolidated entities1,197,039 — Other assets(60,156)— Notes payable19,000 — Retained earnings4,422,821 — 

See accompanying notes to condensed consolidated financial statements.7

Lennar Corporation and Subsidiaries

Notes to Condensed Consolidated Financial Statements (Unaudited)

(1)Basis of Presentation

Basis of ConsolidationThe condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements in the Company’s Annual Report