Company: LEN
Filing Date: 2025-04-04
Form Type: 10-Q
Source: 0001628280-25-016792
Chunk: 3

Company: LENNAR CORP /NEW/
Filing Date: 2025-04-04
Form: 10-Q
Item: Item 1
Chunk 3
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 and Comprehensive Income (Loss)(In thousands, except per share amounts)(Unaudited)

Three Months EndedFebruary 28, 2025February 29, 2024Revenues:Homebuilding$7,283,870 6,930,991 Financial Services277,077 249,720 Multifamily63,196 129,677 Lennar Other7,402 2,542 Total revenues7,631,545 7,312,930 Costs and expenses:Homebuilding6,539,960 5,977,536 Financial Services133,594 118,424 Multifamily73,376 132,667 Lennar Other23,564 9,088 Corporate general and administrative147,378 157,321 Charitable foundation contribution17,834 16,798 Total costs and expenses6,935,706 6,411,834 Equity in earnings (losses) from unconsolidated entities33,234 (30,545)Other income, net and other gains31,668 65,372 Lennar Other realized and unrealized losses from technology investments(62,503)(5,137)Earnings before income taxes698,238 930,786 Provision for income taxes(169,525)(210,865)Net earnings (including net earnings attributable to noncontrolling interests)528,713 719,921 Less: Net earnings attributable to noncontrolling interests9,187 587 Net earnings attributable to Lennar$519,526 719,334 Other comprehensive income (loss), net of tax:Net unrealized gains (losses) on securities available-for-sale$(178)362 Total other comprehensive income (loss), net of tax$(178)362 Total comprehensive income attributable to Lennar$519,348 719,696 Total comprehensive income attributable to noncontrolling interests$9,187 587 Basic and diluted earnings per share$1.96 2.57     

See accompanying notes to condensed consolidated financial statements.5

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

Three Months EndedFebruary 28, 2025February 29, 2024Cash flows from operating activities:Net earnings (including net earnings attributable to noncontrolling interests)$528,713 719,921 Adjustments to reconcile net earnings to net