Company: LEN
Filing Date: 2025-04-04
Form Type: 10-Q
Source: 0001628280-25-016792
Chunk: 95

Company: LENNAR CORP /NEW/
Filing Date: 2025-04-04
Form: 10-Q
Item: Item 8
Chunk 95
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1,979)Non-cash purchase or activity of noncontrolling interests, net(1,399)— — (5,788)— — — 4,389 Total other comprehensive income, net of tax362 — — — — 362 — — Balance at February 29, 2024$26,777,930 25,983 3,660 5,651,836 (1,988,200)5,241 22,949,315 130,095 On February 12, 2025, the Company paid a quarterly cash dividend of 0.50 per share for both of its Class A and Class B common stock to holders of record at the close of business day January 29, 2025. The Company approved and paid cash dividends of $0.50 per share for each of the four quarters of 2024 for both its Class A and Class B common stock. In January 2024, the Company's Board of Directors authorized an increase to its stock repurchase program to enable it to repurchase up to an additional $5 billion in value of its outstanding Class A or Class B common stock. Repurchases are authorized to be made in open-market or private transactions. This authorization was in addition to what was remaining of the Company's March 2022 stock repurchase program. The repurchase authorization has no expiration date. At February 28, 2025, we have a remaining authorization to repurchase $2.7 billion in value of our Class A or B common stock. The following table sets forth the repurchases of the Company's Class A and Class B common stock under the authorized repurchase programs:

17

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

Three Months EndedFebruary 28, 2025February 29, 2024(Dollars in thousands, except price per share amounts)Class AClass BClass AClass BShares repurchased4,770,000 458,805 3,026,128 373,872 Total purchase price$644,618 $58,121 $454,788 $51,637 Average price per share$135.14 $126.68 $150.29 $138.11 

(6)Income Taxes

The provision for income taxes and effective tax rate were as follows:Three Months Ended(Doll