Company: LEN
Filing Date: 2025-07-01
Form Type: 10-Q
Source: 0001628280-25-033777
Chunk: 162

Company: LENNAR CORP /NEW/
Filing Date: 2025-07-01
Form: 10-Q
Item: Item 8
Chunk 162
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 payable on July 18, 2025 to holders of record at the close of business on July 3, 2025. On May 7, 2025, we paid a quarterly cash dividend of 0.50 per share for both our Class A and Class B common stock to holders of record at the close of business day April 23, 2025. We approved and paid cash dividends of $0.50 per share for each of the four quarters of 2024 for both our Class A and Class B common stock. 

Based on our current financial condition and credit relationships, we believe that our operations and borrowing resources will provide for our current and long-term capital requirements at our anticipated levels of activity.

Supplemental Financial Information

Our outstanding senior notes are guaranteed by certain of our wholly-owned subsidiaries, which are primarily homebuilding subsidiaries. These guarantees are full and unconditional. The guarantors of our senior notes are currently those subsidiaries that also guarantee Lennar Corporation's letter of credit facilities and its Credit Facility, which is disclosed in Note 8 of the Notes to Condensed Consolidated Financial Statements. Under the indentures governing our senior notes, guarantees may be suspended or released under certain circumstances.

Supplemental information for the Obligors, which excludes non-guarantor subsidiaries and intercompany transactions, at May 31, 2025 is included in the following tables. Intercompany balances and transactions within the Obligors have been eliminated and amounts attributable to the Obligors' investment in consolidated subsidiaries that have not issued or guaranteed the senior notes have been excluded. Amounts due from and transactions with nonobligor subsidiaries and related parties are separately disclosed:

(In thousands)At May 31, 2025At November 30, 2024Due from non-guarantor subsidiaries$13,973,126 18,396,060 Equity method investments2,380,419 1,078,635 Total assets39,893,911 50,251,091 Total liabilities8,937,245 10,067,424 

Six Months Ended(In thousands)May 31, 2025Total revenues$14,351,055 Operating earnings1,500,174 Earnings before income taxes1,165,553 Net earnings attributable to Lennar876,581 

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Off-Balance Sheet Arrangements

We regularly monitor the results of our Homebuilding, Multifamily and Lennar Other unconsolidated joint