Company: LEN
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001628280-25-002404
Chunk: 33

Company: LENNAR CORP /NEW/
Filing Date: 2025-01-23
Form: 10-K
Item: Item 8
Chunk 33
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 Operational results of each segment are not necessarily indicative of the results that would have occurred had the segment been an independent, stand-alone entity during the periods presented.The Company's homebuilding operations construct and sell homes primarily for first-time, move-up and active adult homebuyers primarily under the Lennar brand name. In addition, the Company's homebuilding operations purchase, develop and sell land to third parties. The Company's chief operating decision makers manage and assess the Company's performance at a regional level. Therefore, the Company performed an assessment of its operating segments in accordance with ASC 280, Segment Reporting, and determined that the following are its operating and reportable segments:Homebuilding segments: (1) East (2) Central (3) Texas (4) West       (5) Financial Services       (6) Multifamily       (7) Lennar OtherThe assets and liabilities related to the Company’s segments were as follows:(In thousands)At November 30, 2024Assets:HomebuildingFinancial ServicesMultifamilyLennar OtherTotalCash and cash equivalents$4,662,643 175,382 30,948 40,691 4,909,664 Restricted cash11,799 68,747 — — 80,546 Receivables, net (1)1,053,211 545,752 53,595 — 1,652,558 Inventory owned and consolidated inventory not owned 19,719,551 — 592,879 — 20,312,430 Deposits and pre-acquisition costs on real estate3,625,372 — 32,643 — 3,658,015 Investments in unconsolidated entities1,344,836 — 503,303 379,435 2,227,574 Loans held-for-sale (2)— 2,250,718 — — 2,250,718 Investments in equity securities (3)— — — 347,810 347,810 Investments available-for-sale (4)— — — 40,578 40,578 Loans held-for-investment, net— 60,969 — — 60,969 Investments held-to-maturity— 135,646 — — 135,646 Goodwill3,442,359 189,699 — — 3,632,058