<SUBMISSION>
<ACCESSION-NUMBER>0000950123-00-006273
<TYPE>8-K/A
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20000502
<ITEMS>2
<ITEMS>5
<ITEMS>7
<FILING-DATE>20000630
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>LENNAR CORP /NEW/
<CIK>0000920760
<ASSIGNED-SIC>1520
<IRS-NUMBER>591281887
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1130
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K/A
<ACT>34
<FILE-NUMBER>001-11749
<FILM-NUMBER>666655
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>700 NW 107TH AVE
<STREET2>STE 300
<CITY>MIAMI
<STATE>FL
<ZIP>33172
<PHONE>3055594000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>700 N W 107TH AVE
<STREET2>STE 300
<CITY>MIAMI
<STATE>FL
<ZIP>33172
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>PACIFIC GREYSTONE CORP /DE/
<DATE-CHANGED>19940323
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>e8-ka.txt
<DESCRIPTION>LENNAR CORPORATION
<TEXT>

<PAGE>   1

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                            ------------------------

                                   FORM 8-K/A

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                                  MAY 2, 2000
                Date of Report (Date of earliest event reported)

                               LENNAR CORPORATION
             (Exact Name of Registrant as Specified in its Charter)

                            ------------------------

<TABLE>
<S>                       <C>                       <C>
        DELAWARE                  1-11749                  59-1281887
(State of Incorporation)  (Commission File Number)       (IRS Employer
                                                      Identification No.)
</TABLE>

                           700 NORTHWEST 107TH AVENUE
                              MIAMI, FLORIDA 33172
        (Address of Registrant's Principal Executive Office) (Zip Code)

                                 (305) 559-4000
              (Registrant's Telephone Number, Including Area Code)

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
<PAGE>   2

ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS.

     The purpose of this current report on Form 8-K/A is to make publicly
available pro forma financial information for the year ended November 30, 1999
(December 31, 1999 as to U.S. Home Corporation) and for the three months ended
February 29, 2000 (March 31, 2000 as to U.S. Home Corporation), reflecting on a
pro forma basis the merger of U.S. Home Corporation into a wholly-owned
subsidiary of Lennar Corporation. The information is presented as though the
merger of U.S. Home Corporation and Lennar's subsidiary had taken place on
December 1, 1998, except that operating results of U.S. Home Corporation are
included as though it had merged with Lennar's subsidiary on January 1, 1999.

ITEM 5.  OTHER EVENTS.

     In May 2000, Lennar sold $325 million principal amount at maturity of its
9.95% Senior Notes due 2010. Lennar's obligations to pay principal, premium, if
any, and interest under the Notes are guaranteed on a joint and several basis by
substantially all of its subsidiaries, other than subsidiaries engaged in
mortgage and title reinsurance activities. Lennar has determined that separate,
full financial statements of the guarantors would not be material to investors
and, accordingly, supplemental financial information for the guarantors is
included as an exhibit to this current report. Consolidating statements of cash
flows are not presented because cash flows for the non-guarantor subsidiaries
were not significant for any of the periods presented.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

  (B)  Pro Forma Financial Information.

  Incorporated by reference to Lennar's Registration Statement, Commission File
No. 333-32860.

  (C) Exhibits.

      Pro Forma Financial Statements

      (a) Pro Forma Combined Condensed Statements of Earnings for the three
          months ended February 29,/March 31, 2000 and for the year ended
          November 30,/December 31, 1999.

      (b) Pro Forma Combined Condensed Balance Sheets at February 29,/March 31,
          2000 and November 30,/December 31, 1999.

      Supplemental Guarantor Financial Information

      (a) Consolidating Condensed Statements of Earnings for Historical Lennar
          Corporation and the Historical Lennar Corporation Subsidiary
          Guarantors for the three months ended February 29, 2000 and for the
          years ended November 30, 1999, 1998 and 1997.

      (b) Consolidating Condensed Balance Sheets for Historical Lennar
          Corporation and the Historical Lennar Corporation Subsidiary
          Guarantors at February 29, 2000 and November 30, 1999 and 1998.

      (c) Pro Forma Consolidating Condensed Statements of Earnings for
          Historical Lennar Corporation and the Historical Lennar Corporation
          Subsidiary Guarantors and Historical U.S. Home Corporation and the
          Historical U.S. Home Corporation Subsidiary Guarantors for the three
          months ended February 29,/March 31, 2000 and for the year ended
          November 30,/December 31, 1999.

      (d) Pro Forma Consolidating Condensed Balance Sheets for Historical Lennar
          Corporation and the Historical Lennar Corporation Subsidiary
          Guarantors and Historical U.S. Home Corporation and the Historical
          U.S. Home Subsidiary Guarantors at February 29,/March 31, 2000 and
          November 30,/December 31, 1999.

                                        2
<PAGE>   3

                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                         LENNAR CORPORATION

                                         By: /s/ BRUCE GROSS
                                           -------------------------------------
                                             Name: Bruce Gross
                                           Title:  Vice President and Chief
                                             Financial Officer

Date:  June 30, 2000

                                 EXHIBIT INDEX

<TABLE>
<CAPTION>
EXHIBIT NO.   EXHIBIT
-----------   -------
<S>           <C>
99.1          Pro Forma Financial Statements
              (a) Pro Forma Combined Condensed Statements of Earnings for
                   the three months ended February 29,/March 31, 2000 and
                  for the year ended November 30,/December 31, 1999.
              (b) Pro Forma Combined Condensed Balance Sheets at February
                   29,/March 31, 2000 and November 30,/December 31, 1999.

99.2          Supplemental Guarantor Financial Information
              (a) Consolidating Condensed Statements of Earnings for
                   Historical Lennar Corporation and the Historical Lennar
                  Corporation Subsidiary Guarantors for the three months
                  ended February 29, 2000 and for the years ended November
                  30, 1999, 1998 and 1997.
              (b) Consolidating Condensed Balance Sheets for Historical
                   Lennar Corporation and the Historical Lennar
                  Corporation Subsidiary Guarantors at February 29, 2000
                  and November 30, 1999 and 1998.
              (c) Pro Forma Consolidating Condensed Statements of Earnings
                   for Historical Lennar Corporation and the Historical
                  Lennar Corporation Subsidiary Guarantors and Historical
                  U.S. Home Corporation and the Historical U.S. Home
                  Corporation Subsidiary Guarantors for the three months
                  ended February 29,/March 31, 2000 and for the year ended
                  November 30,/December 31, 1999.
              (d) Pro Forma Consolidating Condensed Balance Sheets for
                   Historical Lennar Corporation and the Historical Lennar
                  Corporation Subsidiary Guarantors and Historical U.S.
                  Home Corporation and the Historical U.S. Home Subsidiary
                  Guarantors at February 29,/March 31, 2000 and November
                  30,/December 31, 1999.
</TABLE>

                                        3
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.txt
<DESCRIPTION>PRO FORMA FINANCIAL STATEMENTS
<TEXT>

<PAGE>   1

                                                                    EXHIBIT 99.1

                               LENNAR CORPORATION
               PRO FORMA COMBINED CONDENSED STATEMENT OF EARNINGS
                THREE MONTHS ENDED FEBRUARY 29, / MARCH 31, 2000
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                           HISTORICAL      HISTORICAL                         PRO FORMA
                                             LENNAR        U.S. HOME       ACQUISITION        COMBINED
                                           CORPORATION   CORPORATION(1)   ADJUSTMENTS(2)     CORPORATION
                                           -----------   --------------   --------------     -----------
                                                     (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<S>                                        <C>           <C>              <C>                <C>
Revenues:
  Homebuilding...........................   $580,922        467,415               --          1,048,337
  Financial services.....................     59,445         10,083               --             69,528
                                            --------        -------           ------          ---------
          Total revenues.................    640,367        477,498               --          1,117,865
                                            --------        -------           ------          ---------
Costs and expenses:
  Homebuilding...........................    526,093        422,999               --            949,092
  Financial services.....................     58,837          5,797               --             64,634
  Corporate general and administrative...      9,057          5,960              672(3)          15,689
  Interest...............................      9,968         11,216            8,777(3)          29,961
                                            --------        -------           ------          ---------
          Total costs and expenses.......    603,955        445,972            9,449          1,059,376
                                            --------        -------           ------          ---------
Earnings before income taxes.............     36,412         31,526           (9,449)            58,489
Provision for income taxes...............     14,201         11,980           (3,423)(3)         22,758
                                            --------        -------           ------          ---------
Net earnings.............................   $ 22,211         19,546           (6,026)            35,731
                                            ========        =======           ======          =========
Earnings per share:
  Basic..................................   $   0.42           1.48                                0.54
  Diluted................................   $   0.40           1.45                                0.51
Weighted average shares outstanding:
  Basic..................................     53,160         13,219                              66,138(4)
  Diluted................................     59,676         13,460                              72,654(4)
</TABLE>

---------------
(1) Amounts have been reclassified to conform to Lennar Corporation's historical
    presentation.

(2) As of February 29, 2000, the Acquisition Adjustments in the Pro Forma
    Combined Condensed Balance Sheet reflect an increase in certain of the
    inventories of U.S. Home Corporation of approximately $28 million. The
    effects of this estimated purchase adjustment are not included in
    Acquisition Adjustments to the Statement of Earnings above. It will increase
    cost of sales and decrease gross margin by approximately $28 million and
    will decrease net earnings by approximately $17 million ($0.24 per share
    diluted) in the first three to six months after the acquisition is
    completed.

(3) Represents estimated purchase adjustments for the amortization of the
    estimated excess of purchase price over the net assets acquired over a 20
    year period (included in corporate general and administrative expenses), and
    the effect of the additional financing to complete the acquisition (included
    in interest expense) and its related tax effect (at 39%), as if the
    acquisition had occurred on December 1, 1998.

(4) The pro forma weighted average shares represent the weighted average shares
    for Lennar Corporation plus the shares issued (12,978,320 shares) to U.S.
    Home Corporation stockholders to complete the acquisition.

                                       F-1
<PAGE>   2

                               LENNAR CORPORATION
               PRO FORMA COMBINED CONDENSED STATEMENT OF EARNINGS
                  YEAR ENDED NOVEMBER 30, / DECEMBER 31, 1999
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                         HISTORICAL      HISTORICAL                         PRO FORMA
                                           LENNAR        U.S. HOME       ACQUISITION        COMBINED
                                         CORPORATION   CORPORATION(1)   ADJUSTMENTS(2)     CORPORATION
                                         -----------   --------------   --------------     -----------
                                                   (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<S>                                      <C>           <C>              <C>                <C>
Revenues:
  Homebuilding.........................  $2,849,207      1,788,750              --          4,637,957
  Financial services...................     269,307         38,469              --            307,776
                                         ----------      ---------         -------          ---------
          Total revenues...............   3,118,514      1,827,219              --          4,945,733
                                         ----------      ---------         -------          ---------
Costs and expenses:
  Homebuilding.........................   2,508,404      1,629,398              --          4,137,802
  Financial services...................     238,211         22,297              --            260,508
  Corporate general and
     administrative....................      37,563         14,202           3,590(3)          55,355
  Interest.............................      48,859         45,490          10,240(3)         104,589
                                         ----------      ---------         -------          ---------
          Total costs and expenses.....   2,833,037      1,711,387          13,830          4,558,254
                                         ----------      ---------         -------          ---------
Earnings before income taxes...........     285,477        115,832         (13,830)           387,479
Provision for income taxes.............     112,763         43,437          (3,994)(3)        152,206
                                         ----------      ---------         -------          ---------
Net earnings...........................  $  172,714         72,395          (9,836)           235,273
                                         ==========      =========         =======          =========
Earnings per share:
  Basic................................  $     2.97           5.41                               3.30
  Diluted..............................  $     2.74           5.30                               3.09
Weighted average shares outstanding:
  Basic................................      58,246         13,379                             71,224(4)(5)
  Diluted..............................      65,035         13,669                             78,013(4)(5)
</TABLE>

---------------
(1) Amounts have been reclassified to conform to Lennar Corporation's historical
    presentation.

(2) As of November 30, 1999, the Acquisition Adjustments in the Pro Forma
    Combined Condensed Balance Sheet reflect an increase in certain of the
    inventories of U.S. Home Corporation of approximately $28 million. The
    effects of this estimated purchase adjustment are not included in
    Acquisition Adjustments to the Statement of Earnings above. It will increase
    cost of sales and decrease gross margin by approximately $28 million and
    will decrease net earnings by approximately $17 million ($0.22 per share
    diluted) in the first three to six months after the acquisition is
    completed.

(3) Represents estimated purchase adjustments for the amortization of the
    estimated excess of purchase price over the net assets acquired over a 20
    year period (included in corporate general and administrative expenses), and
    the effect of the additional financing to complete the acquisition (included
    in interest expense) and its related tax effect (at 39%), as if the
    acquisition had occurred on December 1, 1998.

(4) The pro forma weighted average shares represent the weighted average shares
    for Lennar Corporation plus the shares issued (12,978,320 shares) to U.S.
    Home Corporation stockholders to complete the acquisition.

(5) From October 1999 through February 2000, Lennar Corporation repurchased
    approximately 9,700,000 shares of its outstanding common stock for an
    average price of slightly more than $16 per share. The Pro Forma Combined
    Condensed Financial Statements do not reflect the repurchase of the portion
    of those shares (approximately 9,300,000 shares) which occurred after
    November 30, 1999.

                                       F-2
<PAGE>   3

                               LENNAR CORPORATION
                   PRO FORMA COMBINED CONDENSED BALANCE SHEET
                         FEBRUARY 29, / MARCH 31, 2000
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                                     HISTORICAL      HISTORICAL                          PRO FORMA
                                                       LENNAR        U.S. HOME       ACQUISITION         COMBINED
                                                     CORPORATION   CORPORATION(1)   ADJUSTMENTS(2)      CORPORATION
                                                     -----------   --------------   --------------      -----------
                                                                             (IN THOUSANDS)
<S>                                                  <C>           <C>              <C>                 <C>
ASSETS
Homebuilding:
  Cash and receivables, net........................  $   59,553         66,642           (3,713)(3)        122,482
  Inventories......................................   1,393,024      1,395,510         (120,357)(4)      2,668,177
  Investments in partnerships......................     173,169         41,529            3,783 (5)        218,481
  Other assets.....................................      99,076         71,145          116,512 (6)        286,733
                                                     ----------      ---------         --------          ---------
                                                      1,724,822      1,574,826           (3,775)         3,295,873
Financial services assets..........................     328,246        113,641             (779)(7)        441,108
                                                     ----------      ---------         --------          ---------
                                                     $2,053,068      1,688,467           (4,554)         3,736,981
                                                     ==========      =========         ========          =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Homebuilding:
  Accounts payable and other liabilities...........  $  316,761        283,345           16,295(8)         616,401
  Mortgage notes and other debts payable, net......     750,184        708,297          309,003(9)       1,767,484
                                                     ----------      ---------         --------          ---------
                                                      1,066,945        991,642          325,298          2,383,885
Financial services liabilities.....................     233,414        100,106               --            333,520
                                                     ----------      ---------         --------          ---------
                                                      1,300,359      1,091,748          325,298          2,717,405
Stockholders' equity...............................     752,709        596,719         (329,852)(10)     1,019,576
                                                     ----------      ---------         --------          ---------
                                                     $2,053,068      1,688,467           (4,554)         3,736,981
                                                     ==========      =========         ========          =========
</TABLE>

---------------
 (1) Amounts have been reclassified to conform to Lennar Corporation's
     historical presentation.

 (2) Represents estimated purchase adjustments to reflect the assets and
     liabilities of U.S. Home Corporation as if the acquisition had occurred on
     February 29, 2000.

 (3) To adjust certain receivables of U.S. Home Corporation in accordance with
     Accounting Principles Board Opinion No. 16 ("APB 16").

 (4) To adjust certain inventories of U.S. Home Corporation in accordance with
     APB 16. This estimated purchase adjustment primarily results from certain
     long-term land holdings of U.S. Home Corporation that have estimated rates
     of return that are below market, based upon Lennar Corporation's historical
     practices for determining market returns. However, the land holdings are
     estimated to be profitable even at their historical carrying values over
     the lives of the projects. Therefore, no adjustment to their carrying
     values are required under generally accepted accounting principles in the
     historical financial statements of U.S. Home Corporation.

 (5) To adjust certain investments in partnerships of U.S. Home Corporation in
     accordance with APB 16.

 (6) To write-off certain assets of U.S. Home Corporation in the amount of
     $25,771,000 that will have no continuing economic benefit (primarily
     goodwill and deferred loan costs); to record the estimated purchase price
     in excess of net assets acquired of $53,720,000; to record the deferred tax
     effect of $63,788,000 related to the estimated purchase adjustments; and to
     record Lennar Corporation's debt issuance costs of $24,775,000 related to
     the financing to complete the acquisition of U.S. Home Corporation.
     The estimated purchase price in excess of net assets acquired was
     calculated as follows:

<TABLE>
        <S>                                                                     <C>              <C>
        Estimated purchase price:
        Lennar Corporation shares issued......................................  $  266,867,000
        Cash paid.............................................................     243,382,000
                                                                                --------------
        Total estimated purchase price........................................                   $510,249,000
        Estimated assets acquired (in accordance with APB 16).................  $1,605,418,000
        Estimated liabilities acquired (in accordance with APB 16)............   1,148,889,000
                                                                                --------------
        Estimated net assets acquired.........................................                    456,529,000
                                                                                                 ------------
        Estimated excess of purchase price over net assets acquired...........                   $ 53,720,000
                                                                                                 ============
</TABLE>

     Certain merger related costs may be payable in the future if certain events
     occur. Such amounts are not significant and are not included in the
     estimated amounts above.

 (7) To adjust certain financial services assets of U.S. Home Corporation in
     accordance with APB 16.

 (8) To record an estimate of costs to conform management information systems of
     $4,750,000; to conform accounting policies with respect to warranty costs
     of $9,000,000; and to record other transaction related liabilities of
     $2,545,000.

 (9) To record $296,767,000 of additional financing, at an interest rate of
     approximately 9%, to complete the acquisition (including certain
     acquisition related costs) and to adjust U.S. Home Corporation's senior
     notes, senior subordinated notes and notes payable by $12,236,000 in
     accordance with APB 16.

(10) To record the estimated value of the Lennar Corporation common stock
     consideration given to purchase U.S. Home Corporation (12,978,320 shares
     issued at an estimated market price of $20.5625 per share), minus the
     historical equity of U.S. Home Corporation of $596,719,000.

                                       F-3
<PAGE>   4

                               LENNAR CORPORATION
                   PRO FORMA COMBINED CONDENSED BALANCE SHEET
                        NOVEMBER 30, / DECEMBER 31, 1999
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                                     HISTORICAL      HISTORICAL                         PRO FORMA
                                                       LENNAR        U.S. HOME       ACQUISITION        COMBINED
                                                     CORPORATION   CORPORATION(1)   ADJUSTMENTS(2)     CORPORATION
                                                     -----------   --------------   --------------     -----------
                                                                            (IN THOUSANDS)
<S>                                                  <C>           <C>              <C>                <C>
ASSETS
Homebuilding:
  Cash and receivables, net........................  $   94,418         33,173           (3,713)(3)       123,878
  Inventories......................................   1,274,551      1,306,103         (120,357)(4)     2,460,297
  Investments in partnerships......................     173,310         41,516            3,783 (5)       218,609
  Other assets.....................................      97,826        113,845          134,582 (6)       346,253
                                                     ----------      ---------         --------         ---------
                                                      1,640,105      1,494,637           14,295         3,149,037
Financial services assets..........................     417,542        108,003             (779)(7)       524,766
                                                     ----------      ---------         --------         ---------
                                                     $2,057,647      1,602,640           13,516         3,673,803
                                                     ==========      =========         ========         =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Homebuilding:
  Accounts payable and other liabilities...........  $  333,532        277,740           16,295(8)        627,567
  Mortgage notes and other debts payable, net......     523,661        650,089          309,003(9)      1,482,753
                                                     ----------      ---------         --------         ---------
                                                        857,193        927,829          325,298         2,110,320
Financial services liabilities.....................     318,955         96,162               --           415,117
                                                     ----------      ---------         --------         ---------
                                                      1,176,148      1,023,991          325,298         2,525,437
Stockholders' equity...............................     881,499        578,649         (311,782)(10)    1,148,366
                                                     ----------      ---------         --------         ---------
                                                     $2,057,647      1,602,640           13,516         3,673,803
                                                     ==========      =========         ========         =========
</TABLE>

---------------
 (1) Amounts have been reclassified to conform to Lennar Corporation's
     historical presentation.

 (2) Represents estimated purchase adjustments to reflect the assets and
     liabilities of U.S. Home Corporation as if the acquisition had occurred on
     November 30, 1999.

 (3) To adjust certain receivables of U.S. Home Corporation in accordance with
     APB 16.

 (4) To adjust certain inventories of U.S. Home Corporation in accordance with
     APB 16. This estimated purchase adjustment primarily results from certain
     long-term land holdings of U.S. Home Corporation that have estimated rates
     of return that are below market, based upon Lennar Corporation's historical
     practices for determining market returns. However, the land holdings are
     estimated to be profitable even at their historical carrying values over
     the lives of the projects. Therefore, no adjustment to their carrying
     values are required under generally accepted accounting principles in the
     historical financial statements of U.S. Home Corporation.

 (5) To adjust certain investments in partnerships of U.S. Home Corporation in
     accordance with APB 16.

 (6) To write-off certain assets of U.S. Home Corporation in the amount of
     $25,771,000 that will have no continuing economic benefit (primarily
     goodwill and deferred loan costs); to record the estimated purchase price
     in excess of net assets acquired of $71,790,000; to record the deferred tax
     effect of $63,788,000 related to the estimated purchase adjustments; and to
     record Lennar Corporation's debt issuance costs of $24,775,000 related to
     the financing to complete the acquisition of U.S. Home Corporation.
     The estimated purchase price in excess of net assets acquired was
     calculated as follows:

<TABLE>
        <S>                                                                     <C>              <C>
        Estimated purchase price:
        Lennar Corporation shares issued......................................  $  266,867,000
        Cash paid.............................................................     243,382,000
                                                                                --------------
        Total estimated purchase price........................................                   $510,249,000
        Estimated assets acquired (in accordance with APB 16).................  $1,519,591,000
        Estimated liabilities acquired (in accordance with APB 16)............   1,081,132,000
                                                                                --------------
        Estimated net assets acquired.........................................                    438,459,000
                                                                                                 ------------
        Estimated excess of purchase price over net assets acquired...........                   $ 71,790,000
                                                                                                 ============
</TABLE>

     Certain merger related costs may be payable in the future if certain events
     occur. Such amounts are not significant and are not included in the
     estimated amounts above.

 (7) To adjust certain financial services assets of U.S. Home Corporation in
     accordance with APB 16.

 (8) To record an estimate of costs to conform management information systems of
     $4,750,000; to conform accounting policies with respect to warranty costs
     of $9,000,000; and to record other transaction related liabilities of
     $2,545,000.

 (9) To record $296,767,000 of additional financing, at an interest rate of
     approximately 9%, to complete the acquisition (including certain
     acquisition related costs) and to adjust U.S. Home Corporation's senior
     notes, senior subordinated notes and notes payable by $12,236,000 in
     accordance with APB 16.

(10) To record the estimated value of the Lennar Corporation common stock
     consideration given to purchase U.S. Home Corporation (12,978,320 shares
     issued at an estimated market price of $20.5625 per share), minus the
     historical equity of U.S. Home Corporation of $578,649,000.

                                       F-4
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ex99-2.txt
<DESCRIPTION>SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION
<TEXT>

<PAGE>   1

                                                                    EXHIBIT 99.2

                               LENNAR CORPORATION
                 CONSOLIDATING CONDENSED STATEMENT OF EARNINGS
                      THREE MONTHS ENDED FEBRUARY 29, 2000
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                              LENNAR       GUARANTOR     NON-GUARANTOR
                                            CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS    TOTAL
                                            -----------   ------------   -------------   ------------   -------
                                                                      (IN THOUSANDS)
<S>                                         <C>           <C>            <C>             <C>            <C>
Revenues:
  Homebuilding............................    $    --       578,047          2,875              --      580,922
  Financial services......................         --         8,524         50,921              --       59,445
                                              -------       -------         ------         -------      -------
          Total revenues..................         --       586,571         53,796              --      640,367
                                              -------       -------         ------         -------      -------
Costs and expenses:
  Homebuilding............................         --       524,131          1,962              --      526,093
  Financial services......................         --        10,890         47,947              --       58,837
  Corporate general and administrative....      9,057            --             --              --        9,057
  Interest................................         --         9,968             --              --        9,968
                                              -------       -------         ------         -------      -------
          Total costs and expenses........      9,057       544,989         49,909              --      603,955
                                              -------       -------         ------         -------      -------
Earnings (loss) before income taxes.......     (9,057)       41,582          3,887              --       36,412
Provision (benefit) for income taxes......     (3,456)       16,217          1,440              --       14,201
Equity in earnings from subsidiaries......     27,812         2,447             --         (30,259)          --
                                              -------       -------         ------         -------      -------
Net earnings..............................    $22,211        27,812          2,447         (30,259)      22,211
                                              =======       =======         ======         =======      =======
</TABLE>

                                       F-5
<PAGE>   2

                               LENNAR CORPORATION
                 CONSOLIDATING CONDENSED STATEMENT OF EARNINGS
                          YEAR ENDED NOVEMBER 30, 1999
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                            LENNAR       GUARANTOR     NON-GUARANTOR
                                          CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS     TOTAL
                                          -----------   ------------   -------------   ------------   ---------
                                                                     (IN THOUSANDS)
<S>                                       <C>           <C>            <C>             <C>            <C>
Revenues:
  Homebuilding..........................   $     --      2,848,105          1,102              --     2,849,207
  Financial services....................         --         31,025        238,282              --       269,307
                                           --------      ---------        -------        --------     ---------
          Total revenues................         --      2,879,130        239,384              --     3,118,514
                                           --------      ---------        -------        --------     ---------
Costs and expenses:
  Homebuilding..........................         --      2,506,332          2,072              --     2,508,404
  Financial services....................         --         34,115        204,096              --       238,211
  Corporate general and
     administrative.....................     37,563             --             --              --        37,563
  Interest..............................         --         48,859             --              --        48,859
                                           --------      ---------        -------        --------     ---------
          Total costs and expenses......     37,563      2,589,306        206,168              --     2,833,037
                                           --------      ---------        -------        --------     ---------
Earnings (loss) before income taxes.....    (37,563)       289,824         33,216              --       285,477
Provision (benefit) for income taxes....    (15,823)       114,480         14,106              --       112,763
Equity in earnings from subsidiaries....    194,454         19,110             --        (213,564)           --
                                           --------      ---------        -------        --------     ---------
Net earnings............................   $172,714        194,454         19,110        (213,564)      172,714
                                           ========      =========        =======        ========     =========
</TABLE>

                                       F-6
<PAGE>   3

                               LENNAR CORPORATION
                 CONSOLIDATING CONDENSED STATEMENT OF EARNINGS
                          YEAR ENDED NOVEMBER 30, 1998
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                            LENNAR       GUARANTOR     NON-GUARANTOR
                                          CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS     TOTAL
                                          -----------   ------------   -------------   ------------   ---------
                                                                     (IN THOUSANDS)
<S>                                       <C>           <C>            <C>             <C>            <C>
Revenues:
  Homebuilding..........................   $     --      2,167,869         36,559              --     2,204,428
  Financial services....................         --         19,889        192,548              --       212,437
                                           --------      ---------        -------        --------     ---------
          Total revenues................         --      2,187,758        229,107              --     2,416,865
                                           --------      ---------        -------        --------     ---------
Costs and expenses:
  Homebuilding..........................         --      1,890,532         30,527              --     1,921,059
  Financial services....................         --         23,674        155,428              --       179,102
  Corporate general and
     administrative.....................     28,962             --             --              --        28,962
  Interest..............................         --         47,628             --              --        47,628
                                           --------      ---------        -------        --------     ---------
          Total costs and expenses......     28,962      1,961,834        185,955              --     2,176,751
                                           --------      ---------        -------        --------     ---------
Earnings (loss) before income taxes.....    (28,962)       225,924         43,152              --       240,114
Provision (benefit) for income taxes....    (11,472)        90,369         17,149              --        96,046
Equity in earnings from subsidiaries....    161,558         26,003             --        (187,561)           --
                                           --------      ---------        -------        --------     ---------
Net earnings............................   $144,068        161,558         26,003        (187,561)      144,068
                                           ========      =========        =======        ========     =========
</TABLE>

                                       F-7
<PAGE>   4

                               LENNAR CORPORATION
                 CONSOLIDATING CONDENSED STATEMENT OF EARNINGS
                          YEAR ENDED NOVEMBER 30, 1997
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                            LENNAR       GUARANTOR     NON-GUARANTOR
                                          CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS     TOTAL
                                          -----------   ------------   -------------   ------------   ---------
                                                                     (IN THOUSANDS)
<S>                                       <C>           <C>            <C>             <C>            <C>
Revenues:
  Homebuilding..........................   $     --      1,208,570            --              --      1,208,570
  Financial services....................         --         48,326        46,186              --         94,512
                                           --------      ---------        ------         -------      ---------
          Total revenues................         --      1,256,896        46,186              --      1,303,082
                                           --------      ---------        ------         -------      ---------
Costs and expenses:
  Homebuilding..........................         --      1,088,330            --              --      1,088,330
  Financial services....................         --         30,736        28,231              --         58,967
  Corporate general and
     administrative.....................     15,850             --            --              --         15,850
  Interest..............................         --         24,979            --              --         24,979
  Restructuring charge..................     15,529         13,700            --              --         29,229
                                           --------      ---------        ------         -------      ---------
          Total costs and expenses......     31,379      1,157,745        28,231              --      1,217,355
                                           --------      ---------        ------         -------      ---------
Earnings (loss) from continuing
  operations before income taxes........    (31,379)        99,151        17,955              --         85,727
Provision (benefit) for income taxes....    (12,291)        40,652         6,761              --         35,122
Equity in earnings from subsidiaries....     69,693         11,194            --         (80,887)            --
                                           --------      ---------        ------         -------      ---------
Earnings from continuing operations.....     50,605         69,693        11,194         (80,887)        50,605
Earnings from discontinued operations
  (net of income taxes of $21,166)......     33,826             --            --              --         33,826
                                           --------      ---------        ------         -------      ---------
Net earnings............................   $ 84,431         69,693        11,194         (80,887)        84,431
                                           ========      =========        ======         =======      =========
</TABLE>

                                       F-8
<PAGE>   5

                               LENNAR CORPORATION
                     CONSOLIDATING CONDENSED BALANCE SHEET
                               FEBRUARY 29, 2000
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                        LENNAR       GUARANTOR     NON-GUARANTOR
                                      CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS     TOTAL
                                      -----------   ------------   -------------   ------------   ---------
                                                                 (IN THOUSANDS)
<S>                                   <C>           <C>            <C>             <C>            <C>
ASSETS
Homebuilding:
  Cash and receivables, net.........   $   7,190        51,595            768              --        59,553
  Inventories.......................          --     1,386,523          6,501              --     1,393,024
  Investments in partnerships.......          --       173,169             --              --       173,169
  Other assets......................      56,989        42,080              7              --        99,076
  Investments in subsidiaries.......     610,623       109,677             --        (720,300)           --
                                       ---------     ---------        -------        --------     ---------
                                         674,802     1,763,044          7,276        (720,300)    1,724,822
Financial services assets...........          --        25,349        302,897              --       328,246
                                       ---------     ---------        -------        --------     ---------
                                       $ 674,802     1,788,393        310,173        (720,300)    2,053,068
                                       =========     =========        =======        ========     =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Homebuilding:
  Accounts payable and other
     liabilities....................   $ 108,482       206,054          2,225              --       316,761
  Mortgage notes and other debts
     payable, net...................     741,881         8,303             --              --       750,184
  Intercompany......................    (928,270)      955,038        (26,768)             --            --
                                       ---------     ---------        -------        --------     ---------
                                         (77,907)    1,169,395        (24,543)             --     1,066,945
Financial services liabilities......          --         8,375        225,039              --       233,414
Stockholders' equity                     752,709       610,623        109,677        (720,300)      752,709
                                       ---------     ---------        -------        --------     ---------
                                       $ 674,802     1,788,393        310,173        (720,300)    2,053,068
                                       =========     =========        =======        ========     =========
</TABLE>

                                       F-9
<PAGE>   6

                               LENNAR CORPORATION
                     CONSOLIDATING CONDENSED BALANCE SHEET
                               NOVEMBER 30, 1999
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                        LENNAR       GUARANTOR     NON-GUARANTOR
                                      CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS     TOTAL
                                      -----------   ------------   -------------   ------------   ---------
                                                                 (IN THOUSANDS)
<S>                                   <C>           <C>            <C>             <C>            <C>
ASSETS
Homebuilding:
  Cash and receivables, net.........   $ 48,343         45,534            541              --        94,418
  Inventories.......................         --      1,267,050          7,501              --     1,274,551
  Investments in partnerships.......         --        173,310             --              --       173,310
  Other assets......................     63,143         34,683             --              --        97,826
  Investments in subsidiaries.......    573,291        107,900             --        (681,191)           --
                                       --------      ---------        -------        --------     ---------
                                        684,777      1,628,477          8,042        (681,191)    1,640,105
Financial services assets...........         --         26,132        391,410              --       417,542
                                       --------      ---------        -------        --------     ---------
                                       $684,777      1,654,609        399,452        (681,191)    2,057,647
                                       ========      =========        =======        ========     =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Homebuilding:
  Accounts payable and other
     liabilities....................   $103,002        228,421          2,109              --       333,532
  Mortgage notes and other debts
     payable, net...................    507,445         16,216             --              --       523,661
  Intercompany......................   (807,169)       827,316        (20,147)             --            --
                                       --------      ---------        -------        --------     ---------
                                       (196,722)     1,071,953        (18,038)             --       857,193
Financial services liabilities......         --          9,365        309,590              --       318,955
Stockholders' equity................    881,499        573,291        107,900        (681,191)      881,499
                                       --------      ---------        -------        --------     ---------
                                       $684,777      1,654,609        399,452        (681,191)    2,057,647
                                       ========      =========        =======        ========     =========
</TABLE>

                                      F-10
<PAGE>   7

                               LENNAR CORPORATION
                     CONSOLIDATING CONDENSED BALANCE SHEET
                               NOVEMBER 30, 1998
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                        LENNAR       GUARANTOR     NON-GUARANTOR
                                      CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS     TOTAL
                                      -----------   ------------   -------------   ------------   ---------
                                                                 (IN THOUSANDS)
<S>                                   <C>           <C>            <C>             <C>            <C>
ASSETS
Homebuilding:
  Cash and receivables, net.........   $ 15,924         35,086          7,470              --        58,480
  Inventories.......................         --      1,191,868          6,685              --     1,198,553
  Investments in partnerships.......         --        156,536             --              --       156,536
  Other assets......................     69,316         67,971             24              --       137,311
  Investments in subsidiaries.......    375,199         94,777             --        (469,976)           --
                                       --------      ---------        -------        --------     ---------
                                        460,439      1,546,238         14,179        (469,976)    1,550,880
Financial services assets...........         --         13,605        353,349              --       366,954
                                       --------      ---------        -------        --------     ---------
                                       $460,439      1,559,843        367,528        (469,976)    1,917,834
                                       ========      =========        =======        ========     =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Homebuilding:
  Accounts payable and other
     liabilities....................   $131,851        222,255          1,601              --       355,707
  Mortgage notes and other debts
     payable, net...................    502,359         28,271             --              --       530,630
  Intercompany......................   (889,436)       924,509        (35,073)             --            --
                                       --------      ---------        -------        --------     ---------
                                       (255,226)     1,175,035        (33,472)             --       886,337
Financial services liabilities......         --          9,609        306,223              --       315,832
Stockholders' equity................    715,665        375,199         94,777        (469,976)      715,665
                                       --------      ---------        -------        --------     ---------
                                       $460,439      1,559,843        367,528        (469,976)    1,917,834
                                       ========      =========        =======        ========     =========
</TABLE>

                                      F-11
<PAGE>   8

                               LENNAR CORPORATION
            PRO FORMA CONSOLIDATING CONDENSED STATEMENT OF EARNINGS
                THREE MONTHS ENDED FEBRUARY 29, / MARCH 31, 2000
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                            LENNAR       GUARANTOR     NON-GUARANTOR
                                          CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS     TOTAL
                                          -----------   ------------   -------------   ------------   ---------
                                                                     (IN THOUSANDS)
<S>                                       <C>           <C>            <C>             <C>            <C>
Revenues:
  Homebuilding..........................   $     --      1,045,462         2,875              --      1,048,337
  Financial services....................         --          8,420        61,108              --         69,528
                                           --------      ---------        ------         -------      ---------
          Total revenues................         --      1,053,882        63,983              --      1,117,865
                                           --------      ---------        ------         -------      ---------
Costs and expenses:
  Homebuilding..........................         --        947,130         1,962              --        949,092
  Financial services....................         --         10,941        53,693              --         64,634
  Corporate general and
     administrative.....................     15,689             --            --              --         15,689
  Interest..............................         --         29,961            --              --         29,961
                                           --------      ---------        ------         -------      ---------
          Total costs and expenses......     15,689        988,032        55,655              --      1,059,376
                                           --------      ---------        ------         -------      ---------
Earnings (loss) before income taxes.....    (15,689)        65,850         8,328              --         58,489
Provision (benefit) for income taxes....     (6,139)        25,681         3,216              --         22,758
Equity in earnings from subsidiaries....     45,281          5,112            --         (50,393)            --
                                           --------      ---------        ------         -------      ---------
Net earnings............................   $ 35,731         45,281         5,112         (50,393)        35,731
                                           ========      =========        ======         =======      =========
</TABLE>

                                      F-12
<PAGE>   9

                               LENNAR CORPORATION
            PRO FORMA CONSOLIDATING CONDENSED STATEMENT OF EARNINGS
                  YEAR ENDED NOVEMBER 30, / DECEMBER 31, 1999
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                            LENNAR       GUARANTOR     NON-GUARANTOR
                                          CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS     TOTAL
                                          -----------   ------------   -------------   ------------   ---------
                                                                     (IN THOUSANDS)
<S>                                       <C>           <C>            <C>             <C>            <C>
Revenues:
  Homebuilding..........................   $     --      4,636,855          1,102              --     4,637,957
  Financial services....................         --         30,808        276,968              --       307,776
                                           --------      ---------        -------        --------     ---------
          Total revenues................         --      4,667,663        278,070              --     4,945,733
                                           --------      ---------        -------        --------     ---------
Costs and expenses:
  Homebuilding..........................         --      4,135,730          2,072              --     4,137,802
  Financial services....................         --         34,188        226,320              --       260,508
  Corporate general and
     administrative.....................     55,355             --             --              --        55,355
  Interest..............................         --        104,589             --              --       104,589
                                           --------      ---------        -------        --------     ---------
          Total costs and expenses......     55,355      4,274,507        228,392              --     4,558,254
                                           --------      ---------        -------        --------     ---------
Earnings (loss) before income taxes.....    (55,355)       393,156         49,678              --       387,479
Provision (benefit) for income taxes....    (20,643)       153,331         19,518              --       152,206
Equity in earnings from subsidiaries....    269,985         30,160             --        (300,145)           --
                                           --------      ---------        -------        --------     ---------
Net earnings............................   $235,273        269,985         30,160        (300,145)      235,273
                                           ========      =========        =======        ========     =========
</TABLE>

                                      F-13
<PAGE>   10

                               LENNAR CORPORATION
                PRO FORMA CONSOLIDATING CONDENSED BALANCE SHEET
                         FEBRUARY 29, / MARCH 31, 2000
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                       LENNAR       GUARANTOR     NON-GUARANTOR
                                     CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS     TOTAL
                                     -----------   ------------   -------------   ------------   ---------
                                                                (IN THOUSANDS)
<S>                                  <C>           <C>            <C>             <C>            <C>
ASSETS
Homebuilding:
  Cash and receivables, net........  $    7,190       114,524            768               --      122,482
  Inventories......................          --     2,661,676          6,501               --    2,668,177
  Investments in partnerships......          --       218,481             --               --      218,481
  Other assets.....................     134,173       152,553              7               --      286,733
  Investments in subsidiaries......   1,120,872       170,594             --       (1,291,466)          --
                                     ----------     ---------        -------       ----------    ---------
                                      1,262,235     3,317,828          7,276       (1,291,466)   3,295,873
Financial services assets..........          --        15,874        425,234                       441,108
                                     ----------     ---------        -------       ----------    ---------
                                     $1,262,235     3,333,702        432,510       (1,291,466)   3,736,981
                                     ==========     =========        =======       ==========    =========
LIABILITIES AND STOCKHOLDERS'
  EQUITY
Homebuilding:
  Accounts payable and other
     liabilities...................  $  108,482       505,694          2,225               --      616,401
  Mortgage notes and other debts
     payable, net..................   1,038,648       728,836             --               --    1,767,484
  Intercompany.....................    (904,471)      974,420        (69,949)              --           --
                                     ----------     ---------        -------       ----------    ---------
                                        242,659     2,208,950        (67,724)              --    2,383,885
Financial services liabilities.....          --         3,880        329,640               --      333,520
Stockholders' equity...............   1,019,576     1,120,872        170,594       (1,291,466)   1,019,576
                                     ----------     ---------        -------       ----------    ---------
                                     $1,262,235     3,333,702        432,510       (1,291,466)   3,736,981
                                     ==========     =========        =======       ==========    =========
</TABLE>

                                      F-14
<PAGE>   11

                               LENNAR CORPORATION
                PRO FORMA CONSOLIDATING CONDENSED BALANCE SHEET
                        NOVEMBER 30, / DECEMBER 31, 1999
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                       LENNAR       GUARANTOR     NON-GUARANTOR
                                     CORPORATION   SUBSIDIARIES   SUBSIDIARIES    ELIMINATIONS     TOTAL
                                     -----------   ------------   -------------   ------------   ---------
                                                                (IN THOUSANDS)
<S>                                  <C>           <C>            <C>             <C>            <C>
ASSETS
Homebuilding:
  Cash and receivables, net........  $   48,343        74,994            541               --      123,878
  Inventories......................          --     2,452,796          7,501               --    2,460,297
  Investments in partnerships......          --       218,609             --               --      218,609
  Other assets.....................     158,397       187,856             --               --      346,253
  Investments in subsidiaries......   1,083,540       165,819             --       (1,249,359)          --
                                     ----------     ---------        -------       ----------    ---------
                                      1,290,280     3,100,074          8,042       (1,249,359)   3,149,037
Financial services assets..........          --        19,386        505,380               --      524,766
                                     ----------     ---------        -------       ----------    ---------
                                     $1,290,280     3,119,460        513,422       (1,249,359)   3,673,803
                                     ==========     =========        =======       ==========    =========
LIABILITIES AND STOCKHOLDERS'
  EQUITY
Homebuilding:
  Accounts payable and other
     liabilities...................  $  103,002       522,456          2,109               --      627,567
  Mortgage notes and other debts
     payable, net..................     804,212       678,541             --               --    1,482,753
  Intercompany.....................    (765,300)      828,645        (63,345)              --           --
                                     ----------     ---------        -------       ----------    ---------
                                        141,914     2,029,642        (61,236)              --    2,110,320
Financial services liabilities.....          --         6,278        408,839               --      415,117
Stockholders' equity...............   1,148,366     1,083,540        165,819       (1,249,359)   1,148,366
                                     ----------     ---------        -------       ----------    ---------
                                     $1,290,280     3,119,460        513,422       (1,249,359)   3,673,803
                                     ==========     =========        =======       ==========    =========
</TABLE>

                                      F-15
</TEXT>
</DOCUMENT>
</SUBMISSION>
