Company: LEN
Filing Date: 2025-07-01
Form Type: 10-Q
Source: 0001628280-25-033777
Chunk: 58

Company: LENNAR CORP /NEW/
Filing Date: 2025-07-01
Form: 10-Q
Item: Item 1
Chunk 58
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554,488 (12,153)3,343 1,010 (2,483)544,205 Other (2)10,720 12,035 (12.3)%(17,976)— 6,022 36,789 12,778 37,613 Totals$15,028,821 12,290,676 18.2 %1,433,559 (13,729)20,390 52,720 44,567 1,537,507 

Six Months Ended May 31, 2024Gross MarginsOperating Earnings($ in thousands)Sales of Homes RevenueCosts of Sales of HomesGross Margin (Loss) %Net Margins (Losses) on Sales of Homes (1)Gross Margins (Losses) on Sales of LandOther RevenueEquity in Earnings (Losses) from Unconsolidated EntitiesOther Income, netOperating EarningsEast$3,986,022 2,898,873 27.3 %736,193 11,596 5,207 12,414 38,548 803,958 Central3,210,271 2,540,020 20.9 %377,889 (451)2,322 6 18,293 398,059 South Central2,264,683 1,744,100 23.0 %340,993 1,434 1,292 (3)9,441 353,157 West5,785,395 4,665,604 19.4 %754,515 851 3,208 3,713 25,437 787,724 Other (2)13,160 16,887 (28.3)%(13,130)— 6,140 12,688 20,355 26,053 Totals$15,259,531 11,865,484 22.2 %2,196,460 13,430 18,169 28,818 112,074 2,368,951 

(1)Net margins on sales of homes include selling, general and administrative expenses.

(2)Negative gross and net margins were due to period costs in Urban divisions that impact costs of homes sold without sufficient sales of homes revenue to offset those costs.

36

Summary of Homebuilding Data