Company: LEN
Filing Date: 2025-10-03
Form Type: 10-Q
Source: 0001628280-25-044086
Chunk: 156

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-03
Form: 10-Q
Item: Item 8
Chunk 156
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 increase in deposits and pre-acquisition costs on real estate of $985 million as we increased the percentage of controlled homesites; and (3) a decrease in accounts payable and other liabilities of $176 million.

Investing Cash Flow Activities

During the nine months ended August 31, 2025 and 2024, cash provided by (used in) investing activities totaled $176 million and ($177) million, respectively. During the nine months ended August 31, 2025, our cash provided by investing activities was primarily due to (1) $233 million received from the sale of an investment in a joint venture, $87 million proceeds from the sale of investments and distributions of capital from unconsolidated entities of $236 million, which primarily included 

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(1) $86 million from Homebuilding unconsolidated entities, (2) $129 million from Multifamily entities and (3) $21 million from our Lennar Other unconsolidated entities and $115 million proceeds from the sale of notes receivables. This was partially offset by the $254 million acquisition of Rausch, net of cash acquired. In addition, we had cash contributions of $203 million to unconsolidated entities, which included (1) $169 million to Homebuilding unconsolidated entities, (2) $10 million to Lennar other unconsolidated entities and (3) $24 million to Multifamily unconsolidated entities and $103 million of net additions of operating properties and equipment.

During the nine months ended August 31, 2024, our cash used in investing activities was primarily due to cash contributions of $312 million to unconsolidated entities, which included (1) $164 million to Homebuilding unconsolidated entities, (2) $131 million to Lennar Other unconsolidated entities, and (3) $17 million to Multifamily unconsolidated entities and $130 million of net additions of operating properties and equipment. This was partially offset by distributions of capital from unconsolidated entities of $237 million, which primarily included (1) $53 million from Homebuilding unconsolidated entities, (2) $18 million from our Lennar Other unconsolidated entities, and (3) $166 million from Multifamily entities.

Financing Cash Flow Activities

During the nine months ended August 31, 2025 and 2024, cash used in financing activities totaled $