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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
May 31, 2023
Nov. 30, 2022
Total assets [1] $ 36,857,687 $ 37,984,295
Total liabilities [2] $ 11,696,568 $ 13,743,928
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 258,433,210 256,084,147
Treasury stock, shares 5,907,705 2,455,387
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 36,601,215 36,601,215
Treasury stock, shares 1,703,974 419,860
Homebuilding    
Total assets [1] $ 32,492,066 $ 32,684,162
Finished homes and construction in progress [1] 12,190,243 11,718,507
Land and land under development [1] 7,114,082 7,382,273
Consolidated inventory not owned [1] 2,382,495 2,331,231
Investments in unconsolidated entities [1] 1,137,189 1,173,164
Other assets [1] 1,582,299 1,323,478
Total liabilities [2] 10,000,697 10,978,646
Accounts payable [2] 1,700,895 1,616,128
Liabilities related to consolidated inventory not owned [2] 2,014,506 1,967,551
Senior notes and other debts payable, net [2] 3,852,258 4,047,294
Other liabilities [2] 2,433,038 3,347,673
Lennar Multifamily [Member]    
Total assets [1] 1,309,548 1,257,337
Total liabilities [2] 298,523 313,484
Lennar Other    
Total assets [1] 791,415 788,539
Total liabilities [2] 85,420 97,894
Variable Interest Entity, Primary Beneficiary    
Total assets 1,600,000 1,400,000
Total liabilities 715,300 620,400
Variable Interest Entity, Primary Beneficiary | Homebuilding    
Cash and cash equivalents 30,600 56,900
Receivables, net 300 300
Finished homes and construction in progress 59,000 29,400
Land and land under development 779,100 736,500
Consolidated inventory not owned 622,400 533,800
Investments in unconsolidated entities 500 1,000
Other assets 23,500 23,000
Accounts payable 85,600 66,900
Liabilities related to consolidated inventory not owned 597,900 510,900
Senior notes and other debts payable, net 25,900 29,400
Other liabilities   7,200
Variable Interest Entity, Primary Beneficiary | Lennar Multifamily [Member]    
Total assets 34,400 33,200
Total liabilities 3,900 3,800
Variable Interest Entity, Primary Beneficiary | Lennar Other    
Total assets 6,900 9,000
Total liabilities $ 2,000 $ 2,200
[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, 2023, total assets include $1.6 billion related to consolidated VIEs of which $30.6 million is included in Homebuilding cash and cash equivalents, $0.3 million in Homebuilding receivables, net, $59.0 million in Homebuilding finished homes and construction in progress, $779.1 million in Homebuilding land and land under development, $622.4 million in Homebuilding consolidated inventory not owned, $0.5 million in Homebuilding investments in unconsolidated entities, $23.5 million in Homebuilding other assets, $34.4 million in Multifamily assets and $6.9 million in Lennar Other assets.
As of November 30, 2022, total assets include $1.4 billion related to consolidated VIEs of which $56.9 million is included in Homebuilding cash and cash equivalents, $0.3 million in Homebuilding receivables, net, $29.4 million in Homebuilding finished homes and construction in progress, $736.5 million in Homebuilding land and land under development, $533.8 million in Homebuilding consolidated inventory not owned, $1.0 million in Homebuilding investments in unconsolidated entities, $23.0 million in Homebuilding other assets, $33.2 million in Multifamily assets and $9.0 million in Lennar Other assets.
[2] As of May 31, 2023, total liabilities include $715.3 million related to consolidated VIEs as to which there was no recourse against the Company, of which $85.6 million is included in Homebuilding accounts payable, $597.9 million in Homebuilding liabilities related to consolidated inventory not owned, $25.9 million in Homebuilding senior notes and other debts payable, $3.9 million in Multifamily liabilities and $2.0 million in Lennar Other liabilities.As of November 30, 2022, total liabilities include $620.4 million related to consolidated VIEs as to which there was no recourse against the Company, of which $66.9 million is included in Homebuilding accounts payable, $510.9 million in Homebuilding liabilities related to consolidated inventory not owned, $29.4 million in Homebuilding senior notes and other debt payable, $7.2 million in Homebuilding other liabilities, $3.8 million in Multifamily liabilities and $2.2 million in Lennar Other liabilities.