Company: LEN
Filing Date: 2025-07-01
Form Type: 10-Q
Source: 0001628280-25-033777
Chunk: 109

Company: LENNAR CORP /NEW/
Filing Date: 2025-07-01
Form: 10-Q
Item: Item 8
Chunk 109
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 Statements (Unaudited) (Continued)

Lennar Other Unconsolidated EntitiesLennar Other's unconsolidated entities include fund investments the Company retained when it sold the Rialto assets and investment management platform in 2018, as well as strategic investments in technology companies and investment funds. The Company's investment in the Rialto funds totaled $132.9 million and $140.1 million as of May 31, 2025 and November 30, 2024, respectively. In addition, the Company is entitled to a portion of the carried interest distributions by those funds. The Company also had strategic technology investments in unconsolidated entities and investment funds accounted for under the equity method of accounting with a carrying value of $235.1 million and $239.3 million, as of May 31, 2025 and November 30, 2024, respectively.

(5)Stockholders' Equity

The following tables reflect the changes in equity attributable to both Lennar Corporation and the noncontrolling interests of its consolidated subsidiaries in which it has less than a 100% ownership interest for the three and six months ended May 31, 2025 and 2024:Three Months Ended May 31, 2025(In thousands)TotalEquityClass ACommon StockClass BCommon StockAdditionalPaid - in CapitalTreasuryStockAccumulated Other Comprehensive Income (Loss)RetainedEarningsNoncontrollingInterestsBalance at February 28, 2025$22,867,344 26,133 3,660 5,812,802 (4,424,039)7,351 21,302,131 139,306 Net earnings (including net earnings attributable to noncontrolling interests)481,820 — — — — — 477,449 4,371 Employee stock and directors plans722 3 — 1,157 (438)— — — Purchases of treasury stock(520,981)— — — (520,981)— — — Amortization of restricted stock28,773 — — 28,773 — — — — Cash dividends(133,589)— — — — — (133,589)— Receipts related to noncontrolling interests9,701 — — — — — — 9,701 Payments related