Company: LEN
Filing Date: 2025-04-04
Form Type: 10-Q
Source: 0001628280-25-016792
Chunk: 93

Company: LENNAR CORP /NEW/
Filing Date: 2025-04-04
Form: 10-Q
Item: Item 8
Chunk 93
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 LMV I rental operation projects were sold to various third-party buyers. As of February 28, 2025, two additional LMV I rental operation projects were sold to various third-party buyers.Lennar Other Unconsolidated EntitiesLennar Other's unconsolidated entities include fund investments the Company retained when it sold the Rialto assets and investment management platform in 2018, as well as strategic investments in technology companies and investment funds. The Company's investment in the Rialto funds totaled $136.6 million and $140.1 million as of February 28, 2025 and November 30, 2024, respectively. In addition, the Company is entitled to a portion of the carried interest distributions by those funds. The 

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Lennar Corporation and SubsidiariesNotes to Condensed Consolidated Financial Statements (Unaudited) (Continued)

Company also had strategic technology investments in unconsolidated entities and investment funds accounted for under the equity method of accounting with a carrying value of $238.8 million and $239.3 million, as of February 28, 2025 and November 30, 2024, respectively.

(5)Stockholders' Equity

The following tables reflect the changes in equity attributable to both Lennar Corporation and the noncontrolling interests of its consolidated subsidiaries in which it has less than a 100% ownership interest for the three months ended February 28, 2025 and February 29, 2024:Three Months Ended February 28, 2025(In thousands)TotalEquityClass ACommon StockClass BCommon StockAdditionalPaid - in CapitalTreasuryStockAccumulated Other Comprehensive Income (Loss)RetainedEarningsNoncontrollingInterestsBalance at November 30, 2024$28,021,225 25,998 3,660 5,729,434 (3,649,564)7,529 25,753,078 151,090 Net earnings (including net earnings attributable to noncontrolling interests)528,713 — — — — — 519,526 9,187 Employee stock and directors plans(64,393)135 — 232 (64,760)— — — Purchases of treasury stock(709,715)— — — (709,715)— — — Amortization of restricted stock84,085 — — 84