Company: LEN
Filing Date: 2025-07-01
Form Type: 10-Q
Source: 0001628280-25-033777
Chunk: 99

Company: LENNAR CORP /NEW/
Filing Date: 2025-07-01
Form: 10-Q
Item: Item 8
Chunk 99
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 Earnings (loss) before income taxes:Homebuilding$728,234 1,340,155 1,537,507 2,368,951 Financial Services157,280 147,012 300,763 278,308 Multifamily(14,754)(20,474)(14,777)(36,113)Lennar Other(52,895)(28,964)(142,178)(68,512)Corporate and Unallocated (1)(175,984)(176,672)(341,196)(350,791)$641,881 1,261,057 1,340,119 2,191,843 (1)Corporate and unallocated consists primarily of corporate general and administrative expenses and charitable foundation contributions.Homebuilding SegmentsInformation about homebuilding activities in states which are not economically similar to other states in the same geographic area is grouped under “Homebuilding Other,” which is not considered a reportable segment.Evaluation of segment performance is based primarily on operating earnings (loss) before income taxes. Operations of the Company’s Homebuilding segments primarily include the construction and sale of single-family attached and detached homes as well as the purchase, development and sale of residential land directly and through the Company’s unconsolidated entities. Operating earnings (loss) for the Homebuilding segments consist of revenues generated from the sales of homes and land, other revenues from management fees and forfeited deposits, equity in earnings (losses) from unconsolidated entities and other income (expense), net, less the cost of homes sold and land sold, and selling, general and administrative expenses incurred by the segment. Homebuilding Other also includes management of a fund that acquires single-family homes and holds them as rental properties.The Company renamed its Texas reportable Homebuilding segment to South Central as a result of the Rausch acquisition (see Note 2 of the Notes to Condensed Consolidated Financial Statements) in order to streamline and synergize geographic homebuilding operations, assess performance, and allocate resources across the Company’s geographic homebuilding segments. The Company’s reportable Homebuilding segments and all other homebuilding operations not required to be reported separately have homebuilding divisions located in:East: Florida, New Jersey and PennsylvaniaCentral: Alabama, Georgia, Illinois, Indiana, Maryland, Minnesota, North Carolina, South Carolina, Tennessee,               and Virginia                                                                            South Central: Arkansas, Kansas, Missouri, Oklahoma and TexasWest: Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah and