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Variable Interest Entities (Narrative) (Details) - USD ($)
$ in Thousands
 9 Months Ended
Aug. 31, 2024
Nov. 30, 2023
Variable Interest Entity [Line Items]    
Total liabilities [1] $ 12,183,274 $ 12,532,337
Homebuilding    
Variable Interest Entity [Line Items]    
Total liabilities [1] 10,122,586 9,727,994
Consolidated inventory not owned [2] 3,842,592 2,992,528
Deposits and pre-acquisition costs on real estate 2,980,035 2,002,154
Liabilities related to consolidated inventory not owned [1] 3,343,871 2,540,894
Land Bank | Homebuilding    
Variable Interest Entity [Line Items]    
Consolidated inventory not owned 768,100  
Deposits and pre-acquisition costs on real estate 820,700  
Liabilities related to consolidated inventory not owned 644,900  
Variable Interest Entity, Not Primary Beneficiary    
Variable Interest Entity [Line Items]    
Increase in consolidated inventory 850,100  
Consolidated inventory not owned 2,500,000  
Consolidated inventory not owned, not recorded 1,400,000  
Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Total liabilities 2,400,000 1,200,000
Variable Interest Entity, Primary Beneficiary | Homebuilding    
Variable Interest Entity [Line Items]    
Consolidated inventory not owned 2,500,000 1,200,000
Liabilities related to consolidated inventory not owned $ 2,300,000 $ 1,100,000
[1] As of August 31, 2024, total liabilities include $2.4 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $80.0 million is included in Homebuilding accounts payable, $2.3 billion in Homebuilding liabilities related to consolidated inventory not owned, $6.0 million in Homebuilding senior notes and other debt payable, $46.5 million in Homebuilding other liabilities, and $1.0 million in Multifamily liabilities.
As of November 30, 2023, total liabilities include $1.2 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $53.7 million is included in Homebuilding accounts payable, $1.1 billion in Homebuilding liabilities related to consolidated inventory not owned, $38.1 million in Homebuilding other liabilities, and $4.1 million in Multifamily liabilities.
[2] Under certain provisions of Accounting Standards Codification (“ASC”) Topic 810, Consolidations (“ASC 810”), the Company is required to separately disclose on its condensed consolidated balance sheets the assets owned by consolidated variable interest entities (“VIEs”) and liabilities of consolidated VIEs as to which neither Lennar Corporation, nor any of its subsidiaries, has any obligations.
As of August 31, 2024, total assets include $3.3 billion related to consolidated VIEs of which $68.8 million is included in Homebuilding cash and cash equivalents, $7.0 million in Homebuilding receivables, net, $6.7 million in Homebuilding finished homes and construction in progress, $625.1 million in Homebuilding land and land under development, $2.5 billion in Homebuilding consolidated inventory not owned, $67.3 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities, $41.0 million in Homebuilding other assets and $34.0 million in Multifamily assets.
As of November 30, 2023, total assets include $1.9 billion related to consolidated VIEs of which $22.8 million is included in Homebuilding cash and cash equivalents, $1.8 million in Homebuilding receivables, net, $18.3 million in Homebuilding finished homes and construction in progress, $628.0 million in Homebuilding land and land under development, $1.2 billion in Homebuilding consolidated inventory not owned, $55.0 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities, $23.0 million in Homebuilding other assets and $32.6 million in Multifamily assets.