Company: LEN
Filing Date: 2025-10-03
Form Type: 10-Q
Source: 0001628280-25-044086
Chunk: 5

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-03
Form: 10-Q
Item: Item 1
Chunk 5
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 adjustments(1,314,933)(707,702)Increase in deposits and pre-acquisition costs on real estate(1,248,390)(984,843)Increase in other assets(209,892)(84,751)Decrease in loans held-for-sale240,394 245,004 Decrease in accounts payable and other liabilities(978,048)(176,492)Net cash (used in) provided by operating activities(1,542,675)1,428,874 Cash flows from investing activities:Net additions of operating properties and equipment(103,424)(130,138)Proceeds from sale of other assets54,803 31,435 Proceeds from sale of investments in unconsolidated joint venture233,007 — Proceeds from sales of investments86,862 — Investments in and contributions to unconsolidated entities(203,010)(311,904)Distributions of capital from unconsolidated entities235,593 236,527 Proceeds from sale of loan receivables114,661 — Acquisition, net of cash and restricted cash acquired(254,492)— Decrease (increase) in Financial Services loans held-for-investment11,572 (2,479)Purchases of investment securities(3,456)(4,519)Proceeds from maturities/sales of investment securities3,518 4,254 Net cash provided by (used in) investing activities$175,634 (176,824) 

See accompanying notes to condensed consolidated financial statements.6

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

Nine Months EndedAugust 31,20252024Cash flows from financing activities:Net borrowings under revolving credit facility$1,140,000 — Net repayments under warehouse facilities(67,111)(618,388)Proceeds from issuance of senior notes700,000 — Redemption/repurchases of senior notes(500,000)(553,865)Principal payments on notes payable and other borrowings(48,659)(43,995)Net cash distributed in connection with Millrose Properties, Inc. spin-off(416,006)— Proceeds from liabilities related to consolidated inventory not owned259 130,440 Proceeds from other borrowings— 6,231 Payments for liabilities related to consolidated inventory not owned(479,426)(