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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Aug. 31, 2023
Nov. 30, 2022
Total assets [1] $ 37,438,125 $ 37,984,295
Total liabilities [2] $ 11,649,583 $ 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 258,444,467 256,084,147
Treasury stock, shares 8,292,109 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 2,398,674 419,860
Homebuilding    
Total assets [1] $ 32,975,348 $ 32,684,162
Finished homes and construction in progress [1] 12,368,338 11,718,507
Land and land under development [1] 6,993,835 7,382,273
Consolidated inventory not owned [1] 2,687,343 2,331,231
Investments in unconsolidated entities [1] 1,157,021 1,173,164
Other assets [1] 1,578,692 1,323,478
Total liabilities [2] 9,943,142 10,978,646
Accounts payable [2] 1,721,530 1,616,128
Liabilities related to consolidated inventory not owned [2] 2,300,686 1,967,551
Senior notes and other debts payable, net [2] 3,320,119 4,047,294
Other liabilities [2] 2,600,807 3,347,673
Lennar Multifamily [Member]    
Total assets [1] 1,354,587 1,257,337
Total liabilities [2] 290,266 313,484
Lennar Other    
Total assets [1] 773,596 788,539
Total liabilities [2] 82,690 97,894
Variable Interest Entity, Primary Beneficiary    
Total assets 1,900,000 1,400,000
Total liabilities 1,100,000 620,400
Variable Interest Entity, Primary Beneficiary | Homebuilding    
Cash and cash equivalents 33,400 56,900
Receivables, net 2,300 300
Finished homes and construction in progress 37,500 29,400
Land and land under development 847,800 736,500
Consolidated inventory not owned 921,400 533,800
Investments in unconsolidated entities 500 1,000
Other assets 25,300 23,000
Accounts payable 147,800 66,900
Liabilities related to consolidated inventory not owned 878,200 510,900
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 31,900 33,200
Total liabilities $ 4,000 3,800
Variable Interest Entity, Primary Beneficiary | Lennar Other    
Total assets   9,000
Total liabilities   $ 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 August 31, 2023, total assets include $1.9 billion related to consolidated VIEs of which $33.4 million is included in Homebuilding cash and cash equivalents, $2.3 million in Homebuilding receivables, net, $37.5 million in Homebuilding finished homes and construction in progress, $847.8 million in Homebuilding land and land under development, $921.4 million in Homebuilding consolidated inventory not owned, $0.5 million in Homebuilding investments in unconsolidated entities, $25.3 million in Homebuilding other assets and $31.9 million in Multifamily 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 August 31, 2023, total liabilities include $1.1 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $147.8 million is included in Homebuilding accounts payable, $878.2 million in Homebuilding liabilities related to consolidated inventory not owned, $25.9 million in Homebuilding senior notes and other debts payable and $4.0 million in Multifamily 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.