Company: LEN
Filing Date: 2025-04-04
Form Type: 10-Q
Source: 0001628280-25-016792
Chunk: 9

Company: LENNAR CORP /NEW/
Filing Date: 2025-04-04
Form: 10-Q
Item: Item 1
Chunk 9
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) Operating and Reporting Segments

The Company's homebuilding operations construct and sell homes primarily for first-time, move-up and active adult homebuyers primarily under the Lennar brand name. In addition, the Company's homebuilding operations purchase, develop and sell land to third parties. The Company's chief operating decision makers manage and assess the Company’s performance at a regional level. Therefore, the Company performed an assessment of its operating segments in accordance with ASC 280, Segment Reporting, and determined that the following are its operating and reportable segments:Homebuilding segments: (1) East (2) Central (3) South Central (4) West(5) Financial Services(6) Multifamily(7) Lennar OtherThe assets and liabilities related to the Company’s segments were as follows:

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

(In thousands)February 28, 2025Assets:HomebuildingFinancialServicesMultifamilyLennar OtherTotalCash and cash equivalents$2,283,928 188,833 15,030 28,981 2,516,772 Restricted cash22,487 48,756 — — 71,243 Receivables, net (1)1,063,934 426,410 43,264 — 1,533,608 Inventory owned and consolidated inventory not owned13,608,716 — 643,214 — 14,251,930 Deposits and pre-acquisition costs on real estate5,161,259 — 10,825 — 5,172,084 Investments in unconsolidated entities (2)2,645,734 — 472,668 375,393 3,493,795 Loans held-for-sale (3)— 1,835,897 — — 1,835,897 Investments in equity securities (4)— — — 245,628 245,628 Investments available-for-sale (5)— — — 40,401 40,401 Loans held-for-investment, net— 52,674 — — 52,674 Investments held-to-maturity— 134,369 — — 134,369 Goodwill3,442,359 189,699 — — 3,