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v3.22.2

Variable Interest Entities (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended |
--- | --- | ---
May 31, 2022 | Nov. 30, 2021
Variable Interest Entity [Line Items] |  |  |
Assets | [1] | $ 34,306,202 | $ 33,207,778
Total liabilities | [2] | 12,516,428 | $ 12,211,496
VIE, Three Entities Consolidated |  |  |
Variable Interest Entity [Line Items] |  |  |
Assets |  | 111,400 |
VIE, One Entity Deconsolidated |  |  |
Variable Interest Entity [Line Items] |  |  |
Assets |  | 22,800 |
Variable Interest Entity, Not Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Increase in consolidated inventory |  | $ 526,300 |
[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 May 31, 2022, total assets include $1.6 billion related to consolidated VIEs of which $73.9 million is included in Homebuilding cash and cash equivalents, $0.6 million in Homebuilding receivables, net, $37.2 million in Homebuilding finished homes and construction in progress, $837.6 million in Homebuilding land and land under development, $591.2 million in Homebuilding consolidated inventory not owned, $1.0 million in Homebuilding investments in unconsolidated entities, $22.9 million in Homebuilding other assets and $34.7 million in Multifamily assets. 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.
[2] | As of May 31, 2022, total liabilities include $571.2 million related to consolidated VIEs as to which there was no recourse against the Company, of which $24.2 million is included in Homebuilding accounts payable, $507.4 million in Homebuilding liabilities related to consolidated inventory not owned, $29.3 million in Homebuilding senior notes and other debts payable, $7.0 million in Homebuilding other liabilities and $3.4 million in Multifamily liabilities.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 debt payable, $12.3 million in Homebuilding other liabilities and $2.8 million in Multifamily liabilities.

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