Stockholders' Equity (Tables)

6 Months Ended

May 31, 2021

The following tables reflect the changes in equity attributable to both Lennar Corporation and the noncontrolling interests of its consolidated subsidiaries in which it has less than a 100% ownership interest for the three and six months ended May 31, 2021 and 2020:


			Three Months Ended May 31, 2021
(In thousands)	Total Equity		Class A Common Stock	Class B Common Stock	Additional Paid - in Capital	Treasury Stock	Accumulated Other Comprehensive Income (loss)		Retained Earnings	Noncontrolling Interests
Balance at February 28, 2021	$	19,017,451	30,047	3,944	8,724,192	(1,348,710)	(1,747)		11,488,520	121,205
Net earnings (including net earnings attributable to noncontrolling interests)	836,772		—	—	—	—	—		831,363	5,409
Employee stock and directors plans	(4,537)		2	—	1,165	(5,704)	—		—	—
Purchases of treasury stock	(98,460)		—	—	—	(98,460)	—		—	—




Amortization of restricted stock	32,276		—	—	32,276	—	—		—	—
Cash dividends	(78,483)		—	—	—	—	—	—	(78,483)	—

Receipts related to noncontrolling interests	5,009		—	—	—	—	—		—	5,009
Payments related to noncontrolling interests	(5,829)		—	—	—	—	—		—	(5,829)
Non-cash purchase or activity of noncontrolling interests, net	(2,417)		—	—	(2,613)	—	—		—	196



Total other comprehensive income, net of tax	316		—	—	—	—	316		—	—
Balance at May 31, 2021	$	19,702,098	30,049	3,944	8,755,020	(1,452,874)	(1,431)		12,241,400	125,990


			Three Months Ended May 31, 2020
(In thousands)	Total Equity		Class A Common Stock	Class B Common Stock	Additional Paid - in Capital	Treasury Stock	Accumulated Other Comprehensive Income (loss)		Retained Earnings	Noncontrolling Interests
Balance at February 29, 2020	$	16,193,377	29,802	3,944	8,609,944	(1,253,756)	452		8,654,213	148,778
Net earnings (including net loss attributable to noncontrolling interests)	516,098		—	—	—	—	—		517,406	(1,308)
Employee stock and directors plans	651		2	—	756	(107)	—		—	—





Amortization of restricted stock	23,286		—	—	23,286	—	—		—	—
Cash dividends	(38,905)		—	—	—	—	—	—	(38,905)	—

Receipts related to noncontrolling interests	80,148		—	—	—	—	—		—	80,148
Payments related to noncontrolling interests	(4,767)		—	—	—	—	—		—	(4,767)
Non-cash consolidations/deconsolidations, net	(131,306)		—	—	—	—	—		—	(131,306)
Non-cash purchase or activity of noncontrolling interests, net	(5,168)		—	—	(3,544)	—	—		—	(1,624)


Total other comprehensive loss, net of tax	(790)		—	—	—	—	(790)		—	—
Balance at May 31, 2020	$	16,632,624	29,804	3,944	8,630,442	(1,253,863)	(338)		9,132,714	89,921


			Six Months Ended May 31, 2021
(In thousands)	Total Equity		Class A Common Stock	Class B Common Stock	Additional Paid - in Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings	Noncontrolling Interests
Balance at November 30, 2020	$	18,099,401	29,894	3,944	8,676,056	(1,279,227)	(805)	10,564,994	104,545
Net earnings (including net earnings attributable to noncontrolling interests)	1,853,681		—	—	—	—	—	1,832,732	20,949
Employee stock and directors plans	(30,816)		155	—	1,106	(32,077)	—	—	—
Purchases of treasury stock	(141,570)		—	—	—	(141,570)	—	—	—



Amortization of restricted stock	81,094		—	—	81,094	—	—	—	—
Cash dividends	(156,326)		—	—	—	—	—	(156,326)	—
Receipts related to noncontrolling interests	13,905		—	—	—	—	—	—	13,905
Payments related to noncontrolling interests	(17,226)		—	—	—	—	—	—	(17,226)

Non-cash purchase or activity of noncontrolling interests, net	581		—	—	(3,236)	—	—	—	3,817



Total other comprehensive loss, net of tax	(626)		—	—	—	—	(626)	—	—
Balance at May 31, 2021	$	19,702,098	30,049	3,944	8,755,020	(1,452,874)	(1,431)	12,241,400	125,990


			Six Months Ended May 31, 2020
(In thousands)	Total Equity		Class A Common Stock	Class B Common Stock	Additional Paid - in Capital	Treasury Stock	Accumulated Other Comprehensive Income (loss)		Retained Earnings	Noncontrolling Interests
Balance at November 30, 2019	$	16,033,830	29,712	3,944	8,578,219	(957,857)	498		8,295,001	84,313
Net earnings (including net loss attributable to noncontrolling interests)	907,321		—	—	—	—	—		915,858	(8,537)
Employee stock and directors plans	(6,773)		92	—	626	(7,491)	—		—	—
Purchases of treasury stock	(288,515)		—	—	—	(288,515)	—		—	—




Amortization of restricted stock	55,141		—	—	55,141	—	—		—	—
Cash dividends	(78,145)		—	—	—	—	—	—	(78,145)	—

Receipts related to noncontrolling interests	169,061		—	—	—	—	—		—	169,061
Payments related to noncontrolling interests	(21,501)		—	—	—	—	—		—	(21,501)
Non-cash consolidations/deconsolidations, net	(131,791)		—	—	—	—	—		—	(131,791)
Non-cash purchase or activity of noncontrolling interests, net	(5,168)		—	—	(3,544)	—	—		—	(1,624)


Total other comprehensive loss, net of tax	(836)		—	—	—	—	(836)		—	—
Balance at May 31, 2020	$	16,632,624	29,804	3,944	8,630,442	(1,253,863)	(338)		9,132,714	89,921

The following table represents the repurchase of the Company's Class A and Class B common stocks under this program and its predecessor for the three and six months ended May 31, 2021 and 2020:


	Three Months Ended								Six Months Ended
	May 31, 2021				May 31, 2020				May 31, 2021				May 31, 2020
(Dollars in thousands, except price per share)	Class A		Class B		Class A		Class B		Class A		Class B		Class A		Class B
Shares repurchased	1,000,000		—		—		—		1,510,000		—		4,250,000		115,000
Principal	$	98,440	$	—	$	—	$	—	$	141,540	$	—	$	282,274	$	6,155
Average price per share	$	98.44	$	—	$	—	$	—	$	93.73	$	—	$	66.42	$	53.52