Company: LEN
Filing Date: 2025-10-03
Form Type: 10-Q
Source: 0001628280-25-044086
Chunk: 6

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-03
Form: 10-Q
Item: Item 1
Chunk 6
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255,753)Payments related to other liabilities, net(4,263)(4,263)Receipts related to noncontrolling interests25,982 17,044 Payments related to noncontrolling interests(7,777)(45,819)Debt issuance costs(6,502)— Common stock:Repurchases(1,808,312)(1,729,308)Dividends(394,357)(414,168)Net cash used in financing activities(1,866,172)(3,511,844)Net decrease in cash and cash equivalents and restricted cash(3,233,213)(2,259,794)Cash and cash equivalents and restricted cash at beginning of period4,990,210 6,570,938 Cash and cash equivalents and restricted cash at end of period$1,756,997 4,311,144 Summary of cash and cash equivalents and restricted cash:Homebuilding$1,406,215 4,037,405 Financial Services216,129 156,840 Multifamily17,337 24,755 Lennar Other22,532 33,662 Homebuilding restricted cash29,928 12,600 Financial Services restricted cash64,856 45,882 $1,756,997 4,311,144 Supplemental disclosures of non-cash investing and financing activities:Homebuilding:Payments of inventories financed by sellers$320 34,245 Net non-cash contributions to unconsolidated entities162,454 14,453 Non-cash impact of Millrose Properties, Inc. spin-off:Inventories$(5,578,704)— Investments in unconsolidated entities1,197,039 — Other assets(60,156)— Notes payable19,000 — Retained earnings4,422,821 — 

See accompanying notes to condensed consolidated financial statements.7

Lennar Corporation and Subsidiaries

Notes to Condensed Consolidated Financial Statements (Unaudited)

(1)Basis of Presentation

Basis of ConsolidationThe condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These condensed consolidated financial