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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Aug. 31, 2021
Nov. 30, 2020
Total assets [1] $ 32,744,190 $ 29,935,177
Cash and cash equivalents 2,779,141 2,863,038
Restricted cash 32,849 69,692
Receivables, net 874,508 938,079
Investments in unconsolidated entities 2,053,701 2,064,921
Other assets 1,245,618 1,343,012
Total liabilities [2] 11,964,651 11,835,776
Senior notes and other debts payable, net $ 6,650,866 $ 7,421,583
Common Class A    
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized 400,000,000 400,000,000
Common stock, shares issued 300,499,577 298,942,836
Treasury stock, shares 28,647,421 23,864,589
Common Class B    
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized 90,000,000 90,000,000
Common stock, shares issued 39,443,168 39,443,168
Treasury stock, shares 1,822,016 1,822,016
Homebuilding    
Total assets [1] $ 27,580,753 $ 25,529,425
Cash and cash equivalents [1] 2,623,320 2,703,986
Restricted cash [1] 21,519 15,211
Receivables, net [1] 369,492 298,671
Finished homes and construction in progress [1] 10,891,592 8,593,399
Land and land under development [1] 7,210,032 7,495,262
Consolidated inventory not owned [1] 1,004,319 836,567
Investments in unconsolidated entities [1] 983,429 953,177
Other assets [1] 1,034,691 1,190,793
Total liabilities [2] 10,331,501 9,925,651
Accounts payable [2] 1,230,577 1,037,338
Liabilities related to consolidated inventory not owned [2] 841,539 706,691
Senior notes and other debts payable, net [2] 5,542,513 5,955,758
Other liabilities [2] 2,716,872 2,225,864
Multifamily    
Total assets [1] 1,226,692 1,175,908
Cash and cash equivalents 15,302 38,963
Restricted cash 0 0
Receivables, net 96,649 86,629
Investments in unconsolidated entities 682,819 724,647
Other assets 80,169 75,749
Total liabilities [2] 259,145 252,911
Senior notes and other debts payable, net 0 0
Variable Interest Entity, Primary Beneficiary    
Total assets 1,000,000 1,100,000
Total liabilities 320,600 528,500
Variable Interest Entity, Primary Beneficiary | Homebuilding    
Cash and cash equivalents 61,100 32,100
Receivables, net 4,400 100
Finished homes and construction in progress 14,300 14,200
Land and land under development 623,900 486,800
Consolidated inventory not owned 284,700 426,300
Investments in unconsolidated entities 1,300 1,600
Other assets 17,100 120,600
Accounts payable 25,400 28,400
Liabilities related to consolidated inventory not owned 232,800 351,400
Senior notes and other debts payable, net 50,000 129,100
Other liabilities 12,500 9,900
Variable Interest Entity, Primary Beneficiary | Multifamily    
Total assets $ 17,700 39,900
Total liabilities   $ 9,800
[1] Under certain provisions of Accounting Standards Codification ("ASC") Topic 810, Consolidations ("ASC 810"), the Company is required to separately disclose on its condensed consolidated balance sheets the assets owned by consolidated variable interest entities ("VIEs") and liabilities of consolidated VIEs as to which neither Lennar Corporation, nor any of its subsidiaries, has any obligations.
As of August 31, 2021, total assets include $1.0 billion related to consolidated VIEs of which $61.1 million is included in Homebuilding cash and cash equivalents, $4.4 million in Homebuilding receivables, net, $14.3 million in Homebuilding finished homes and construction in progress, $623.9 million in Homebuilding land and land under development, $284.7 million in Homebuilding consolidated inventory not owned, $1.3 million in Homebuilding investments in unconsolidated entities, $17.1 million in Homebuilding other assets and $17.7 million in Multifamily assets.
As of November 30, 2020, total assets include $1.1 billion related to consolidated VIEs of which $32.1 million is included in Homebuilding cash and cash equivalents, $0.1 million in Homebuilding receivables, net, $14.2 million in Homebuilding finished homes and construction in progress, $486.8 million in Homebuilding land and land under development, $426.3 million in Homebuilding consolidated inventory not owned, $1.6 million in Homebuilding investments in unconsolidated entities, $120.6 million in Homebuilding other assets and $39.9 million in Multifamily assets.
[2] Under certain provisions of ASC 810, the Company is required to separately disclose on its condensed consolidated balance sheets the assets owned by consolidated VIEs and liabilities of consolidated VIEs as to which neither Lennar Corporation, nor any of its subsidiaries, has any obligations.
As of August 31, 2021, total liabilities include $320.6 million related to consolidated VIEs as to which there was no recourse against the Company, of which $25.4 million is included in Homebuilding accounts payable, $232.8 million in Homebuilding liabilities related to consolidated inventory not owned, $50.0 million in Homebuilding senior notes and other debts payable and $12.5 million in Homebuilding other liabilities.
As of November 30, 2020, total liabilities include $528.5 million related to consolidated VIEs as to which there was no recourse against the Company, of which $28.4 million is included in Homebuilding accounts payable, $351.4 million in Homebuilding liabilities related to consolidated inventory not owned, $129.1 million in Homebuilding senior notes and other debt payable, $9.9 million in Homebuilding other liabilities and $9.8 million in Multifamily liabilities.