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Earnings Per Share
 9 Months Ended
Aug. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share is computed by dividing net earnings attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company.
All outstanding nonvested shares that contain non-forfeitable rights to dividends or dividend equivalents that participate in undistributed earnings with common stock are considered participating securities and are included in computing earnings per share pursuant to the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock and participating securities according to dividends or dividend equivalents and participation rights in undistributed earnings. The Company’s restricted common stock (“nonvested shares”) is considered participating securities.
Basic and diluted earnings per share were calculated as follows:
Three Months EndedNine Months Ended
August 31,August 31,
(In thousands, except per share amounts)2024202320242023
Numerator:
Net earnings attributable to Lennar$1,162,674 1,108,996 2,836,319 2,577,224 
Less: distributed earnings allocated to nonvested shares635 672 4,351 4,968 
Less: undistributed earnings allocated to nonvested shares10,257 12,549 24,177 28,252 
Numerator for basic and diluted earnings per share1,151,782 1,095,775 2,807,791 2,544,004 
Denominator:
Denominator for basic and diluted earnings per share - weighted average common shares outstanding270,164 282,854 273,604 284,612 
Basic and diluted earnings per share$4.26 3.87 10.26 8.94 
For both the three and nine months ended August 31, 2024 and August 31, 2023, there were no options to purchase shares of common stock that were outstanding and anti-dilutive.