Earnings Per Share (Tables)

3 Months Ended

Feb. 29, 2024

Schedule of Calculation of Numerator and Denominator In Earnings Per Share

Basic and diluted earnings per share were calculated as follows:


	Three Months Ended

(In thousands, except per share amounts)	February 29, 2024		February 28, 2023
Numerator:
Net earnings attributable to Lennar	$	719,334	596,534
Less: distributed earnings allocated to nonvested shares	1,023		724
Less: undistributed earnings allocated to nonvested shares	5,877		5,895
Numerator for basic earnings per share	712,434		589,915
Less: net amount attributable to Rialto's Carried Interest Incentive Plan (1)	—		1,038



Numerator for diluted earnings per share	$	712,434	588,877
Denominator:
Denominator for basic earnings per share - weighted average common shares outstanding	276,946		286,074



Denominator for diluted earnings per share - weighted average common shares outstanding	276,946		286,074
Basic earnings per share	$	2.57	2.06
Diluted earnings per share	$	2.57	2.06

(1)The amount presented relate to Rialto's Carried Interest Incentive Plan and represents 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.