Stockholders' Equity (Tables)

9 Months Ended

Aug. 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 nine months ended August 31, 2021 and 2020:


			Three Months Ended August 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 May 31, 2021	$	19,702,098	30,049	3,944	8,755,020	(1,452,874)	(1,431)	12,241,400	125,990
Net earnings (including net earnings attributable to noncontrolling interests)	1,409,218		—	—	—	—	—	1,406,888	2,330
Employee stock and directors plans	(32,426)		1	—	55	(32,482)	—	—	—
Purchases of treasury stock	(246,385)		—	—	—	(246,385)	—	—	—




Amortization of restricted stock	24,752		—	—	24,752	—	—	—	—
Cash dividends	(77,662)		—	—	—	—	—	(77,662)	—

Receipts related to noncontrolling interests	4,670		—	—	—	—	—	—	4,670
Payments related to noncontrolling interests	(3,633)		—	—	—	—	—	—	(3,633)
Non-cash purchase or activity of noncontrolling interests, net	(1,224)		—	—	(1,218)	—	—	—	(6)



Total other comprehensive income, net of tax	131		—	—	—	—	131	—	—
Balance at August 31, 2021	$	20,779,539	30,050	3,944	8,778,609	(1,731,741)	(1,300)	13,570,626	129,351


			Three Months Ended August 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 May 31, 2020	$	16,632,624	29,804	3,944	8,630,442	(1,253,863)	(338)	9,132,714	89,921
Net earnings (including net earnings attributable to noncontrolling interests)	669,323		—	—	—	—	—	666,418	2,905
Employee stock and directors plans	(22,843)		90	—	(105)	(22,828)	—	—	—





Amortization of restricted stock	28,658		—	—	28,658	—	—	—	—
Cash dividends	(38,967)		—	—	—	—	—	(38,967)	—

Receipts related to noncontrolling interests	6,504		—	—	—	—	—	—	6,504
Payments related to noncontrolling interests	(7,949)		—	—	—	—	—	—	(7,949)
Non-cash consolidations/deconsolidations, net	17,079		—	—	—	—	—	—	17,079
Non-cash purchase or activity of noncontrolling interests, net	(4,259)		—	—	(4,041)	—	—	—	(218)


Total other comprehensive loss, net of tax	175		—	—	—	—	175	—	—
Balance at August 31, 2020	$	17,280,345	29,894	3,944	8,654,954	(1,276,691)	(163)	9,760,165	108,242


			Nine Months Ended August 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)	3,262,899		—	—	—	—	—	3,239,620	23,279
Employee stock and directors plans	(63,242)		156	—	1,161	(64,559)	—	—	—
Purchases of treasury stock	(387,955)		—	—	—	(387,955)	—	—	—



Amortization of restricted stock	105,846		—	—	105,846	—	—	—	—
Cash dividends	(233,988)		—	—	—	—	—	(233,988)	—
Receipts related to noncontrolling interests	18,575		—	—	—	—	—	—	18,575
Payments related to noncontrolling interests	(20,859)		—	—	—	—	—	—	(20,859)

Non-cash purchase or activity of noncontrolling interests, net	(643)		—	—	(4,454)	—	—	—	3,811



Total other comprehensive loss, net of tax	(495)		—	—	—	—	(495)	—	—
Balance at August 31, 2021	$	20,779,539	30,050	3,944	8,778,609	(1,731,741)	(1,300)	13,570,626	129,351


			Nine Months Ended August 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)	1,576,644		—	—	—	—	—		1,582,276	(5,632)
Employee stock and directors plans	(29,616)		182	—	521	(30,319)	—		—	—
Purchases of treasury stock	(288,515)		—	—	—	(288,515)	—		—	—




Amortization of restricted stock	83,799		—	—	83,799	—	—		—	—
Cash dividends	(117,112)		—	—	—	—	—	—	(117,112)	—

Receipts related to noncontrolling interests	175,565		—	—	—	—	—		—	175,565
Payments related to noncontrolling interests	(29,450)		—	—	—	—	—		—	(29,450)
Non-cash consolidations/deconsolidations, net	(114,712)		—	—	—	—	—		—	(114,712)
Non-cash purchase or activity of noncontrolling interests, net	(9,427)		—	—	(7,585)	—	—		—	(1,842)


Total other comprehensive loss, net of tax	(661)		—	—	—	—	(661)		—	—
Balance at Aug 31, 2020	$	17,280,345	29,894	3,944	8,654,954	(1,276,691)	(163)		9,760,165	108,242

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 nine months ended August 31, 2021 and 2020:


	Three Months Ended								Nine Months Ended
	August 31, 2021				August 31, 2020				August 31, 2021				August 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	2,500,000		—		—		—		4,010,000		—		4,250,000		115,000
Total purchase price	$	246,335	$	—	$	—	$	—	$	387,875	$	—	$	282,274	$	6,155
Average price per share	$	98.53	$	—	$	—	$	—	$	96.73	$	—	$	66.42	$	53.52