Company: LEN
Filing Date: 2025-10-03
Form Type: 10-Q
Source: 0001628280-25-044086
Chunk: 205

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-03
Form: 10-Q
Item: Item 2
Chunk 205
---
,919 166,768 West95,300 3,133 98,433 Other4,649 1,561 6,210 Total homesites511,764 11,315 523,079 0.1 % of total homesites98%2%Years ofAugust 31, 2024Controlled HomesitesOwned HomesitesTotal HomesitesSupply Owned (1)East 90,402 16,172 106,574 Central89,462 30,788 120,250 South Central107,395 16,645 124,040 West77,239 21,152 98,391 Other4,828 1,891 6,719 Total homesites369,326 86,648 455,974 1.1 % of total homesites81%19%

(1)Based on trailing twelve months of homes delivered.

Details on option contracts, transactions with land banks and Millrose and related consolidated inventory not owned and exposure are included in Note 10 of the Notes to Condensed Consolidated Financial Statements.

47

Contractual Obligations and Commercial Commitments

Our contractual obligations and commercial commitments have not changed materially from those reported in Management’s Discussion and Analysis of Financial Condition and Results of Operations in our 2024 Form 10-K, except for a decrease of $1.0 billion in land purchase contract obligations and an increase of $1.3 billion in Homebuilding senior notes and other debts payable, net.

(3) Recently Adopted Accounting Pronouncements

See Note 1 of the Notes to Condensed Consolidated Financial Statements included under Item 1 of this Quarterly Report on Form 10-Q for a discussion of recently adopted accounting pronouncements.

(4) Critical Accounting Policies

There have been no significant changes to our critical accounting policies during the nine months ended August 31, 2025 as compared to those we disclosed in Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our 2024 Form 10-K.