Company: LEN
Filing Date: 2025-10-03
Form Type: 10-Q
Source: 0001628280-25-044086
Chunk: 4

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-03
Form: 10-Q
Item: Item 1
Chunk 4
---
 1,162,674 1,587,942 2,836,319 Other comprehensive income (loss), net of tax:Net unrealized gains (losses) on securities available-for-sale$— 444 (1,510)2,161 Total other comprehensive income (loss), net of tax$— 444 (1,510)2,161 Total comprehensive income attributable to Lennar$590,967 1,163,118 1,586,432 2,838,480 Total comprehensive income attributable to noncontrolling interests$8,844 24,600 22,402 31,462 Basic and diluted earnings per share$2.29 4.26 6.06 10.26     

See accompanying notes to condensed consolidated financial statements.5

Lennar Corporation and SubsidiariesCondensed Consolidated Statements of Cash Flows(In thousands)(Unaudited)

Nine Months EndedAugust 31,20252024Cash flows from operating activities:Net earnings (including net earnings attributable to noncontrolling interests)$1,610,344 2,867,781 Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:Depreciation and amortization99,326 85,119 Amortization of discount/premium and accretion on debt, net(33)407 Equity in earnings from unconsolidated entities(56,172)(151,767)Distributions of earnings from unconsolidated entities28,266 34,108 Share-based compensation expense138,363 154,094 Deferred income tax expense77,332 99,368 Gains on redemption/repurchase of senior notes— (825)Loans held-for-sale unrealized gains(10,293)(1,617)Lennar Other realized and unrealized losses (gains) from technology investments and other losses (gains), net14,218 (35,189)Gains on sale of other assets and loans receivables(34,086)(15,428)Gain on sale of investments in unconsolidated entities and other(35,678)— Valuation adjustments and write-offs of option deposits and pre-acquisition costs on real estate, and other assets146,893 125,777 Changes in assets and liabilities:Increase in receivables(10,286)(24,170)Increase in inventories, excluding valuation