Stockholders' Equity (Tables)

3 Months Ended

Feb. 29, 2024

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 months ended February 29, 2024 and February 28, 2023:


	Three Months Ended February 29, 2024
(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 November 30, 2023	$	26,701,966	25,848	3,660	5,570,009	(1,393,100)	4,879	22,369,368	121,302
Net earnings (including net earnings attributable to noncontrolling interests)	719,921		—	—	—	—	—	719,334	587
Employee stock and directors plans	(83,473)		135	—	(65)	(83,543)	—	—	—

Purchases of treasury stock	(511,557)		—	—	—	(511,557)	—	—	—




Amortization of restricted stock	87,680		—	—	87,680	—	—	—	—
Cash dividends	(139,387)		—	—	—	—	—	(139,387)	—

Receipts related to noncontrolling interests	5,796		—	—	—	—	—	—	5,796
Payments related to noncontrolling interests	(1,979)		—	—	—	—	—	—	(1,979)
Non-cash purchase or activity of noncontrolling interests, net	(1,399)		—	—	(5,788)	—	—	—	4,389



Total other comprehensive income, net of tax	362		—	—	—	—	362	—	—
Balance at February 29, 2024	$	26,777,930	25,983	3,660	5,651,836	(1,988,200)	5,241	22,949,315	130,095


	Three Months Ended February 28, 2023
(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 November 30, 2022	$	24,240,367	25,608	3,660	5,417,796	(210,389)	2,408	18,861,417	139,867
Net earnings (including net earnings attributable to noncontrolling interests)	599,308		—	—	—	—	—	596,534	2,774
Employee stock and directors plans	(66,990)		226	—	(189)	(67,027)	—	—	—

Purchases of treasury stock	(190,931)		—	—	—	(190,931)	—	—	—



Amortization of restricted stock	86,558		—	—	86,558	—	—	—	—
Cash dividends	(107,891)		—	—	—	—	—	(107,891)	—

Receipts related to noncontrolling interests	2,497		—	—	—	—	—	—	2,497
Payments related to noncontrolling interests	(21,256)		—	—	—	—	—	—	(21,256)

Non-cash purchase or activity of noncontrolling interests, net	12,774		—	—	(376)	—	—	—	13,150


Total other comprehensive income, net of tax	851		—	—	—	—	851	—	—
Balance at February 28, 2023	$	24,555,287	25,834	3,660	5,503,789	(468,347)	3,259	19,350,060	137,032

The following table sets forth the repurchases of the Company's Class A and Class B common stock under the authorized repurchase programs:


	Three Months Ended

	February 29, 2024				February 28, 2023
(Dollars in thousands, except price per share)	Class A		Class B		Class A		Class B
Shares repurchased	3,026,128		373,872		1,446,205		553,795
Total purchase price	$	454,788	$	51,637	$	143,068	$	46,105
Average price per share	$	150.29	$	138.11	$	98.93	$	83.25