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Stockholders' Equity
 9 Months Ended
Aug. 31, 2024
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
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 and nine months ended August 31, 2024 and 2023:
Three Months Ended August 31, 2024
(In thousands)Total
Equity		Class A
Common Stock		Class B
Common Stock		Additional
Paid - in Capital		Treasury
Stock		Accumulated Other Comprehensive IncomeRetained
Earnings		Noncontrolling
Interests
Balance at May 31, 2024$27,015,753 25,996 3,660 5,674,733 (2,597,806)6,596 23,764,695 137,879 
Net earnings (including net earnings attributable to noncontrolling interests)1,187,274 — — — — — 1,162,674 24,600 
Employee stock and directors plans
10 2 — 70 (62)— — — 
Purchases of treasury stock(524,540)— — — (524,540)— — — 
Amortization of restricted stock
31,908 — — 31,908 — — — — 
Cash dividends(135,850)— — — — — (135,850)— 
Receipts related to noncontrolling interests
2,322 — — — — — — 2,322 
Payments related to noncontrolling interests
(19,173)— — — — — — (19,173)
Non-cash purchase or activity of noncontrolling interests, net(440)— — — — — — (440)
Total other comprehensive income, net of tax444 — — — — 444 — — 
Balance at August 31, 2024$27,557,708 25,998 3,660 5,706,711 (3,122,408)7,040 24,791,519 145,188 
Three Months Ended August 31, 2023
(In thousands)Total
Equity		Class A
Common Stock		Class B
Common Stock		Additional
Paid - in Capital		Treasury
Stock		Accumulated Other Comprehensive IncomeRetained
Earnings		Noncontrolling
Interests
Balance at May 31, 2023$25,161,119 25,843 3,660 5,546,128 (675,686)3,832 20,111,368 145,974 
Net earnings (including net earnings attributable to noncontrolling interests)1,116,952 — — — — — 1,108,996 7,956 
Employee stock and directors plans
(8,552)1 — (620)(7,933)— — — 
Purchases of treasury stock(368,381)— — — (368,381)— — — 
Amortization of restricted stock
12,885 — — 12,885 — — — — 
Cash dividends(107,082)— — — — — (107,082)— 
Receipts related to noncontrolling interests
1,391 — — — — — — 1,391 
Payments related to noncontrolling interests
(22,795)— — — — — — (22,795)
Non-cash purchase or activity of noncontrolling interests, net2,797 — — 3,400 — — — (603)
Total other comprehensive income, net of tax208 — — — — 208 — — 
Balance at August 31, 2023$25,788,542 25,844 3,660 5,561,793 (1,052,000)4,040 21,113,282 131,923 
Nine Months Ended August 31, 2024
(In thousands)Total
Equity		Class A
Common Stock		Class B
Common Stock		Additional
Paid - in Capital		Treasury
Stock		Accumulated Other Comprehensive IncomeRetained
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)2,867,781 — — — — — 2,836,319 31,462 
Employee stock and directors plans
(84,509)150 — 1,282 (85,941)— — — 
Purchases of treasury stock(1,643,367)— — — (1,643,367)— — — 
Amortization of restricted stock
154,094 — — 154,094 — — — — 
Cash dividends(414,168)— — — — — — (414,168)— 
Receipts related to noncontrolling interests
17,044 — — — — — — 17,044 
Payments related to noncontrolling interests
(45,819)— — — — — — (45,819)
Non-cash purchase or activity of noncontrolling interests, net2,525 — — (18,674)— — — 21,199 
Total other comprehensive income, net of tax2,161 — — — — 2,161 — — 
Balance at August 31, 2024$27,557,708 25,998 3,660 5,706,711 (3,122,408)7,040 24,791,519 145,188 
Nine Months Ended August 31, 2023
(In thousands)Total
Equity		Class A
Common Stock		Class B
Common Stock		Additional
Paid - in Capital		Treasury
Stock		Accumulated Other Comprehensive IncomeRetained
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)2,594,002 — — — — — 2,577,224 16,778 
Employee stock and directors plans
(71,313)236 — 822 (72,371)— — — 
Purchases of treasury stock(769,240)— — — (769,240)— — — 
Amortization of restricted stock
139,616 — — 139,616 — — — — 
Cash dividends(325,359)— — — — — — (325,359)— 
Receipts related to noncontrolling interests
6,309 — — — — — — 6,309 
Payments related to noncontrolling interests
(43,418)— — — — — — (43,418)
Non-cash purchase or activity of noncontrolling interests, net15,946 — — 3,559 — — — 12,387 
Total other comprehensive income, net of tax1,632 — — — — 1,632 — — 
Balance at August 31, 2023$25,788,542 25,844 3,660 5,561,793 (1,052,000)4,040 21,113,282 131,923 
On September 25, 2024, the Company's Board of Directors declared a quarterly cash dividend of $0.50 per share on both its Class A and Class B common stock, payable on October 24, 2024 to holders of record at the close of business on October 9, 2024. On July 19, 2024, the Company paid a quarterly cash dividend of $0.50 per share for both of its Class A and Class B common stock to holders of record at the close of business on July 5, 2024, as declared by its Board of Directors on June 20, 2024. The Company approved and paid cash dividends of $0.375 per share for each of the four quarters of 2023 for both its Class A and Class B common stock.
In January 2024, the Company's Board of Directors authorized an increase to its stock repurchase program to enable it to repurchase up to an additional $5 billion in value of its outstanding Class A or Class B common stock. Repurchases are authorized to be made in open-market or private transactions. The repurchase authorization has no expiration date. At August 31, 2024, we have a remaining authorization to repurchase $3.9 billion in value of our Class A or B common stock. 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 August 31,Nine Months Ended August 31,
2024202320242023
(Dollars in thousands, except price per share amounts)Class AClass BClass AClass BClass AClass BClass AClass B
Shares repurchased2,892,320 462,906 2,305,300 694,700 9,311,923 1,243,303 5,021,186 1,978,814 
Total purchase price$447,845 $71,434 $287,024 $78,855 $1,445,909 $182,641 $568,892 $193,970 
Average price per share$154.84 $154.32 $124.51 $113.51 $155.27 $146.90 $113.30 $98.02