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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Nov. 30, 2021
Nov. 30, 2020
Inventories:    
Investments in unconsolidated entities $ 1,972,383 $ 2,064,921
Total assets [1] 33,207,778 29,935,177
LIABILITIES AND EQUITY    
Total liabilities [2] 12,211,496 11,835,776
Stockholders’ equity:    
Preferred stock [2] 0 0
Additional paid-in capital [2] 8,807,891 8,676,056
Retained earnings [2] 14,685,329 10,564,994
Treasury stock, at cost; 2021 - 38,586,961 shares of Class A common stock and 1,922,016 shares of Class B common stock; 2020 - 23,864,589 shares of Class A common stock and 1,822,016 shares of Class B common stock [2] (2,709,448) (1,279,227)
Accumulated other comprehensive loss [2] (1,341) (805)
Total stockholders’ equity [2] 20,816,425 17,994,856
Noncontrolling interests [2] 179,857 104,545
Total equity [2] 20,996,282 18,099,401
Total liabilities and equity [2] 33,207,778 29,935,177
Class A Common Stock    
Stockholders’ equity:    
Common stock [2] 30,050 29,894
Class B Common Stock    
Stockholders’ equity:    
Common stock [2] 3,944 3,944
Homebuilding    
ASSETS    
Cash and cash equivalents [1] 2,735,213 2,703,986
Restricted cash [1] 21,927 15,211
Receivables, net [1] 490,278 298,671
Inventories:    
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
Total inventories [1] 18,715,304 16,925,228
Investments in unconsolidated entities [1] 972,084 953,177
Goodwill 3,442,359 [1] 3,442,359
Other assets [1] 1,090,654 1,190,793
Total assets [1] 27,467,819 25,529,425
LIABILITIES AND EQUITY    
Accounts payable [2] 1,321,247 1,037,338
Liabilities related to consolidated inventory not owned [2] 976,602 706,691
Senior notes and other debts payable, net [2] 4,652,338 5,955,758
Other liabilities [2] 2,920,055 2,225,864
Total liabilities [2] 9,870,242 9,925,651
Financial Services    
ASSETS    
Cash and cash equivalents 167,021 116,171
Restricted cash 12,012 54,481
Inventories:    
Total assets [1] 2,964,367 2,708,118
LIABILITIES AND EQUITY    
Total liabilities [2] 1,906,343 1,644,248
Multifamily    
ASSETS    
Cash and cash equivalents 16,850 38,963
Inventories:    
Investments in unconsolidated entities 654,029 724,647
Total assets [1] 1,311,747 1,175,908
LIABILITIES AND EQUITY    
Total liabilities [2] 288,930 252,911
Lennar Other    
ASSETS    
Cash and cash equivalents 2,660 3,918
Restricted cash 0 0
Inventories:    
Investments in unconsolidated entities 346,270 387,097
Total assets [1] 1,463,845 521,726
LIABILITIES AND EQUITY    
Total liabilities [2] $ 145,981 $ 12,966
[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.