Stockholders' Equity (Tables)

9 Months Ended

Aug. 31, 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 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 Income	Retained 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 tax	444		—	—	—	—	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 Income	Retained 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, net	2,797		—	—	3,400	—	—	—	(603)


Total other comprehensive income, net of tax	208		—	—	—	—	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

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,

	2024				2023				2024				2023
(Dollars in thousands, except price per share amounts)	Class A		Class B		Class A		Class B		Class A		Class B		Class A		Class B
Shares repurchased	2,892,320		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