Company: LEN
Filing Date: 2025-07-01
Form Type: 10-Q
Source: 0001628280-25-033777
Chunk: 14

Company: LENNAR CORP /NEW/
Filing Date: 2025-07-01
Form: 10-Q
Item: Item 1
Chunk 14
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4,238,587 West 10,424,040 12,148,434 Other2,859,356 1,729,407 Corporate and Unallocated 1,430,718 4,943,019 Total Homebuilding$29,391,517 35,594,469 Financial information relating to the Company’s Homebuilding segments was as follows:Three Months EndedSix Months EndedMay 31,May 31,(In thousands)2025202420252024RevenuesEast$1,707,226 2,138,410 3,360,981 4,016,347 Central1,771,545 1,771,279 3,331,553 3,212,593 South Central1,523,398 1,196,425 2,690,226 2,268,211 West 2,833,297 3,265,467 5,728,230 5,795,529 Other8,396 9,478 16,742 19,370 $7,843,862 8,381,059 15,127,732 15,312,050 Operating earningsEast$175,004 427,048 397,626 803,958 Central163,839 236,436 299,291 398,059 South Central136,689 184,576 258,772 353,157 West245,424 478,937 544,205 787,724 Other7,278 13,158 37,613 26,053 $728,234 1,340,155 1,537,507 2,368,951 Financial ServicesOperations of the Financial Services segment include mortgage financing, title and closing services primarily for buyers of the Company’s homes. They also include originating and selling into securitizations commercial mortgage loans through its LMF Commercial business. Financial Services’ operating earnings consist of revenues generated primarily from mortgage financing, title and closing services, and sales of property and casualty insurance, less the cost of such services and certain selling, general and administrative expenses incurred by the segment. The Financial Services segment operates generally in the same states as the Company’s homebuilding operations.

12

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

At May 31, 2025, the Financial Services