Company: LEN
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001628280-25-002404
Chunk: 7

Company: LENNAR CORP /NEW/
Filing Date: 2025-01-23
Form: 10-K
Item: Item 8
Chunk 7
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 B common stock; 2023 - 11,207,889 shares of Class A common stock and 2,920,200 shares of Class B common stock(3,649,564)(1,393,100)Accumulated other comprehensive income7,529 4,879 Total stockholders’ equity27,870,135 26,580,664 Noncontrolling interests151,090 121,302 Total equity28,021,225 26,701,966 Total liabilities and equity$41,312,781 39,234,303 

(2)As of November 30, 2024, total liabilities include $2.7 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $67.3 million is included in Homebuilding accounts payable, $2.6 billion in Homebuilding liabilities related to consolidated inventory not owned, $6.0 million in Homebuilding senior notes and other debts payable, net, $45.8 million in Homebuilding other liabilities and $1.0 million in Multifamily liabilities.

As of November 30, 2023, total liabilities include $1.2 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $53.7 million is included in Homebuilding accounts payable, $1.1 billion in Homebuilding liabilities related to consolidated inventory not owned, $38.1 million in Homebuilding other liabilities and $4.1 million in Multifamily liabilities.

See accompanying notes to consolidated financial statements.51

LENNAR CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

Years Ended November 30, 2024, 2023 and 2022 

202420232022(Dollars in thousands, except per share amounts)Revenues:Homebuilding$33,906,426 32,660,987 31,951,335 Financial Services1,109,263 976,859 809,680 Multifamily411,537 573,485 865,603 Lennar Other14,226 22,035 44,392 Total revenues35,441,452 34,233,366 33,671,010 Costs and expenses:Homebuilding28,809,464 27,223,645 25,161