Company: LEN
Filing Date: 2025-10-03
Form Type: 10-Q
Source: 0001628280-25-044086
Chunk: 143

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-03
Form: 10-Q
Item: Item 8
Chunk 143
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 was primarily due to a decrease in tax credits and a decrease in excess tax benefits from share-based compensation.

35

Homebuilding Segments

At August 31, 2025, our reportable Homebuilding segments and Homebuilding Other are outlined in Note 3 of the Notes to Condensed Consolidated Financial Statements. The following tables set forth selected financial and operational information related to our homebuilding operations for the periods indicated:

Selected Financial and Operational DataThree Months Ended August 31, 2025Gross MarginsOperating Earnings($ in thousands)Sales of Homes RevenueCosts of Sales of HomesGross Margin (Loss) %Net Margins (Losses) on Sales of Homes (1)Gross Margins (Losses) on Sales of LandOther RevenuesEquity in Earnings (Losses) from Unconsolidated EntitiesOther Income (Expense), netOperating Earnings (Loss)East$1,679,796 1,362,858 18.9 %163,716 1,282 3,521 14,338 (1,209)181,648 Central2,072,731 1,693,876 18.3 %188,696 (1,788)1,030 40 1,480 189,458 South Central1,507,314 1,247,502 17.2 %134,693 (2,305)610 (5)(2,864)130,129 West2,950,118 2,470,021 16.3 %278,893 (7,733)1,877 563 (3,277)270,323 Other (2)3,621 5,306 (46.5)%(8,472)— 2,536 (4,746)(1,091)(11,773)Totals$8,213,580 6,779,563 17.5 %757,526 (10,544)9,574 10,190 (6,961)759,785 Three Months Ended August 31, 2024Gross MarginsOperating Earnings($ in thousands)Sales of Homes RevenueCosts of Sales of HomesGross Margin (Loss) %Net Margins (Losses) on Sales of Homes (1)Gross Margins (Losses) on Sales of LandOther RevenuesEquity in Earnings from Un