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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020
--- | --- | ---
Total assets | [1] | $ 33,207,778 | $ 29,935,177
Investments in unconsolidated entities |  | 1,972,383 | 2,064,921
Operating properties and equipment, net |  | 339,906 | 411,518
Total liabilities | [2] | 12,211,496 | 11,835,776
Variable Interest Entity, Primary Beneficiary |  |  |
Total assets |  | 1,100,000 | 1,100,000
Total liabilities |  | $ 258,500 | $ 528,500
Class A Common Stock |  |  |
Common stock, par value (in USD per share) |  | $ 0.10 | $ 0.10
Common stock, shares authorized (in shares) |  | 400,000,000 | 400,000,000
Common stock, shares issued (in shares) |  | 300,500,075 | 298,942,836
Treasury stock, shares (in shares) |  | 38,586,961 | 23,864,589
Class B Common Stock |  |  |
Common stock, par value (in USD per share) |  | $ 0.10 | $ 0.10
Common stock, shares authorized (in shares) |  | 90,000,000 | 90,000,000
Common stock, shares issued (in shares) |  | 39,443,168 | 39,443,168
Treasury stock, shares (in shares) |  | 1,922,016 | 1,822,016
Homebuilding |  |  |
Total assets | [1] | $ 27,467,819 | $ 25,529,425
Cash and cash equivalents | [1] | 2,735,213 | 2,703,986
Receivables, net | [1] | 490,278 | 298,671
Finished homes and construction in progress | [1] | 10,446,139 | 8,593,399
Land and land under development | [1] | 7,108,142 | 7,495,262
Consolidated inventory not owned | [1] | 1,161,023 | 836,567
Investments in unconsolidated entities | [1] | 972,084 | 953,177
Other assets | [1] | 1,090,654 | 1,190,793
Total liabilities | [2] | 9,870,242 | 9,925,651
Accounts payable | [2] | 1,321,247 | 1,037,338
Senior notes and other debts payable, net | [2] | 4,652,338 | 5,955,758
Liabilities related to consolidated inventory not owned | [2] | 976,602 | 706,691
Other liabilities | [2] | 2,920,055 | 2,225,864
Homebuilding | Variable Interest Entity, Primary Beneficiary |  |  |
Cash and cash equivalents |  | 60,900 | 32,100
Receivables, net |  | 4,400 | 100
Finished homes and construction in progress |  | 14,300 | 14,200
Land and land under development |  | 697,100 | 486,800
Consolidated inventory not owned |  | 239,200 | 426,300
Investments in unconsolidated entities |  | 1,100 | 1,600
Other assets |  | 17,400 | 120,600
Accounts payable |  | 26,600 | 28,400
Senior notes and other debts payable, net |  | 20,100 | 129,100
Liabilities related to consolidated inventory not owned |  | 196,600 | 351,400
Other liabilities |  | 12,300 | 9,900
Lennar Other |  |  |
Total assets | [1] | 1,463,845 | 521,726
Cash and cash equivalents |  | 2,660 | 3,918
Investments in unconsolidated entities |  | 346,270 | 387,097
Total liabilities | [2] | 145,981 | 12,966
Multifamily |  |  |
Total assets | [1] | 1,311,747 | 1,175,908
Cash and cash equivalents |  | 16,850 | 38,963
Investments in unconsolidated entities |  | 654,029 | 724,647
Total liabilities | [2] | 288,930 | 252,911
Multifamily | Variable Interest Entity, Primary Beneficiary |  |  |
Total assets |  | 80,600 | 39,900
Total liabilities |  | 2,800 | 9,800
Financial Services |  |  |
Total assets | [1] | 2,964,367 | 2,708,118
Cash and cash equivalents |  | 167,021 | 116,171
Total liabilities | [2] | $ 1,906,343 | $ 1,644,248
[1] | Under certain provisions of Accounting Standards Codification ("ASC") Topic 810, Consolidations, ("ASC 810") the Company is required to separately disclose on its consolidated balance sheets the assets of consolidated variable interest entities ("VIEs") that are owned by the consolidated VIEs and liabilities of consolidated VIEs as to which there is no recourse against the Company. As of November 30, 2021, total assets include $1.1 billion related to consolidated VIEs of which $60.9 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, $697.1 million in Homebuilding land and land under development, $239.2 million in Homebuilding consolidated inventory not owned, $1.1 million in Homebuilding investments in unconsolidated entities, $17.4 million in Homebuilding other assets and $80.6 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] | As of November 30, 2021, total liabilities include $258.5 million related to consolidated VIEs as to which there was no recourse against the Company, of which $26.6 million is included in Homebuilding accounts payable, $196.6 million in Homebuilding liabilities related to consolidated inventory not owned, $20.1 million in Homebuilding senior notes and other debts payable, $12.3 million in Homebuilding other liabilities and $2.8 million in Multifamily 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 debts payable, $9.9 million in Homebuilding other liabilities and $9.8 million in Multifamily liabilities.

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