Company: LEN
Filing Date: 2025-07-01
Form Type: 10-Q
Source: 0001628280-25-033777
Chunk: 4

Company: LENNAR CORP /NEW/
Filing Date: 2025-07-01
Form: 10-Q
Item: Item 1
Chunk 4
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 996,975 1,673,645 Other comprehensive income (loss), net of tax:Net unrealized gains (losses) on securities available-for-sale$(1,332)1,355 (1,510)1,717 Total other comprehensive income (loss), net of tax$(1,332)1,355 (1,510)1,717 Total comprehensive income attributable to Lennar$476,117 955,666 995,465 1,675,362 Total comprehensive income attributable to noncontrolling interests$4,371 6,275 13,558 6,862 Basic and diluted earnings per share$1.81 3.45 3.77 6.01     

See accompanying notes to condensed consolidated financial statements.5

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

Six Months EndedMay 31,20252024Cash flows from operating activities:Net earnings (including net earnings attributable to noncontrolling interests)$1,010,533 1,680,507 Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:Depreciation and amortization65,157 55,746 Amortization of discount/premium and accretion on debt, net(142)336 Equity in (earnings) losses from unconsolidated entities(45,351)34,854 Distributions of earnings from unconsolidated entities20,070 20,894 Share-based compensation expense112,858 122,186 Deferred income tax expense38,381 36,848 Gains on redemption/repurchase of senior notes— (825)Loans held-for-sale unrealized losses2,350 28,865 Lennar Other realized and unrealized losses from technology investments and other losses, net100,006 6,515 Gains on sale of other assets and loans receivables(34,597)(13,585)Gain on sale of investments in unconsolidated entities and other(35,033)— Valuation adjustments and write-offs of option deposits and pre-acquisition costs on real estate, and other assets89,727 26,526 Changes in assets and liabilities:Decrease in receivables69,599 30,956 Increase in inventories, excluding valuation adjustments(1,624,586)(