Earnings Per Share (Tables)

12 Months Ended

Nov. 30, 2023

Schedule of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share were calculated as follows:


	Years Ended November 30,
(In thousands, except per share amounts)	2023		2022	2021
Numerator:
Net earnings attributable to Lennar	$	3,938,511	4,614,125	4,430,111
Less: distributed earnings allocated to nonvested shares	5,514		4,471	2,690
Less: undistributed earnings allocated to nonvested shares	43,022		47,509	50,229
Numerator for basic earnings per share	3,889,975		4,562,145	4,377,192
Less: net amount attributable to Rialto's Carried Interest Incentive Plan (1)	—		4,919	2,907




Numerator for diluted earnings per share	$	3,889,975	4,557,226	4,374,285
Denominator:
Denominator for basic earnings per share - weighted average common shares outstanding	283,319		289,824	306,612



Denominator for diluted earnings per share - weighted average common shares outstanding	283,319		289,824	306,612
Basic earnings per share	$	13.73	15.74	14.28
Diluted earnings per share	$	13.73	15.72	14.27

(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.