Earnings Per Share (Tables)

9 Months Ended

Aug. 31, 2023

Schedule of Calculation of Numerator and Denominator In Earnings Per Share

Basic and diluted earnings per share were calculated as follows:


	Three Months Ended			Nine Months Ended
	August 31,			August 31,
(In thousands, except per share amounts)	2023		2022	2023	2022
Numerator:
Net earnings attributable to Lennar	$	1,108,996	1,467,344	2,577,224	3,291,681
Less: distributed earnings allocated to nonvested shares	672		655	4,968	3,830
Less: undistributed earnings allocated to nonvested shares	12,549		15,088	28,252	34,605
Numerator for basic earnings per share	1,095,775		1,451,601	2,544,004	3,253,246
Less: net amount attributable to Rialto's Carried Interest Incentive Plan (1)	—		1,038	—	3,881



Numerator for diluted earnings per share	$	1,095,775	1,450,563	2,544,004	3,249,365
Denominator:
Denominator for basic earnings per share - weighted average common shares outstanding	282,854		288,109	284,612	290,645



Denominator for diluted earnings per share - weighted average common shares outstanding	282,854		288,109	284,612	290,645
Basic earnings per share	$	3.87	5.04	8.94	11.19
Diluted earnings per share	$	3.87	5.03	8.94	11.18

(1)The amounts presented relate to Rialto's Carried Interest Incentive Plan and represent the difference between the advanced tax distributions received from the Rialto funds included in the Lennar Other segment and the amount Lennar is assumed to own.