Company: LEN
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001628280-25-002404
Chunk: 156

Company: LENNAR CORP /NEW/
Filing Date: 2025-01-23
Form: 10-K
Item: Item 7
Chunk 156
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 payment of income taxes, an increase in receivables of $329 million, an increase in deposits and preacquisition costs on real estate of $296 million as we increased the percentage of controlled homesites, and an increase in loan held-for-sale of $367 million primarily related to the sale of loans originated by our Financial Services segment.

Investing Cash Flow Activities

During 2024 and 2023, cash used in investing activities totaled $303 million and $177 million, respectively. During 2024, our cash used in investing activities was primarily due to cash contributions of $426 million to unconsolidated entities, which primarily included (1) $222 million to Homebuilding unconsolidated entities, (2) $182 million to Lennar Other 

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unconsolidated entities, and (3) $21 million to Multifamily unconsolidated entities. This was partially offset by distributions of capital from unconsolidated entities of $231 million, which primarily included (1) $117 million from Multifamily unconsolidated entities, (2) $61 million from Homebuilding unconsolidated entities, and (3) $54 million from our Lennar Other unconsolidated entities.

During 2023, our cash used in investing activities was primarily due to cash contributions of $201 million to unconsolidated entities, which primarily included (1) $94 million to Homebuilding unconsolidated entities, (2) $81 million to Lennar Other unconsolidated entities, and (3) $27 million to Multifamily unconsolidated entities. This was partially offset by distributions of capital from unconsolidated entities of $100 million, which primarily included (1) $70 million from Homebuilding unconsolidated entities, and (2) $29 million from our Lennar Other unconsolidated entities.

Financing Cash Flow Activities

During 2024 and 2023, our cash used in financing activities totaled $3.7 billion and $3.2 billion, respectively. During 2024, our cash used in financing activities was primarily due to the (1) $2.3 billion of repurchases of our common stock, which included $2.2 billion of repurchases under our repurchase program and $87 million of repurchases related to our equity compensation plan; (2) $549 million of dividend payments; (3) $233 million of net repayments under our Financial Services'