Stockholders' Equity (Tables)

9 Months Ended

Aug. 31, 2022

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, 2022 and 2021:


			Three Months Ended August 31, 2022
(In thousands)	Total Equity		Class A Common Stock	Class B Common Stock	Additional Paid - in Capital	Treasury Stock	Accumulated Other Comprehensive Income	Retained Earnings	Noncontrolling Interests
Balance at May 31, 2022	$	21,789,774	25,582	3,660	5,355,182	(76,615)	1,748	16,288,698	191,519
Net earnings (including net earnings attributable to noncontrolling interests)	1,472,694		—	—	—	—	—	1,467,344	5,350
Employee stock and directors plans	(13,106)		—	—	39	(13,145)	—	—	—






Amortization of restricted stock	38,200		—	—	38,200	—	—	—	—
Cash dividends	(108,749)		—	—	—	—	—	(108,749)	—

Receipts related to noncontrolling interests	11,965		—	—	—	—	—	—	11,965
Payments related to noncontrolling interests	(19,577)		—	—	—	—	—	—	(19,577)
Non-cash purchase or activity of noncontrolling interests, net	(44,005)		—	—	(5,008)	—	—	—	(38,997)



Total other comprehensive income, net of tax	342		—	—	—	—	342	—	—
Balance at August 31, 2022	$	23,127,538	25,582	3,660	5,388,413	(89,760)	2,090	17,647,293	150,260


			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


			Nine Months Ended August 31, 2022
(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, 2021	$	20,996,282	30,050	3,944	8,807,891	(2,709,448)	(1,341)		14,685,329	179,857
Net earnings (including net earnings attributable to noncontrolling interests)	3,304,567		—	—	—	—	—		3,291,681	12,886
Employee stock and directors plans	(70,525)		199	—	893	(71,617)	—		—	—
Retirement of treasury stock	—		(4,667)	(284)	(3,533,425)	3,538,376	—		—	—
Purchases of treasury stock	(847,071)		—	—	—	(847,071)	—		—	—




Amortization of restricted stock	154,710		—	—	154,710	—	—		—	—
Cash dividends	(329,717)		—	—	—	—	—	—	(329,717)	—

Receipts related to noncontrolling interests	30,060		—	—	—	—	—		—	30,060
Payments related to noncontrolling interests	(85,098)		—	—	—	—	—		—	(85,098)
Non-cash purchase or activity of noncontrolling interests, net	(29,101)		—	—	(41,656)	—	—		—	12,555



Total other comprehensive income, net of tax	3,431		—	—	—	—	3,431		—	—
Balance at August 31, 2022	$	23,127,538	25,582	3,660	5,388,413	(89,760)	2,090		17,647,293	150,260


			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

The following table represents the repurchases of the Company's Class A and Class B common stocks under the authorized repurchase programs:


	Three Months Ended								Nine Months Ended
	August 31,								August 31
	2022				2021				2022				2021
(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		—		8,246,000		1,122,000		4,010,000		—
Total purchase price	$	—	$	—	$	246,335	$	—	$	762,282	$	84,601	$	387,875	$	—
Average price per share	$	—	$	—	$	98.53	$	—	$	92.44	$	75.40	$	96.73	$	—