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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Nov. 30, 2024 | Nov. 30, 2023
--- | --- | ---
Total assets | [1] | $ 41,312,781 | $ 39,234,303
Total liabilities | [2] | 13,291,556 | 12,532,337
Variable Interest Entity, Primary Beneficiary |  |  |
Total assets |  | 3,700,000 | 1,900,000
Total liabilities |  | $ 2,700,000 | $ 1,200,000
Class A Common Stock |  |  |
Common stock, par value (in USD per share) |  | $ 0.10 | $ 0.10
Common stock, shares authorized (in shares) |  | 400,000,000 | 400,000,000
Common stock, shares issued (in shares) |  | 259,979,453 | 258,475,012
Treasury stock, shares (in shares) |  | 23,814,148 | 11,207,889
Class B Common Stock |  |  |
Common stock, par value (in USD per share) |  | $ 0.10 | $ 0.10
Common stock, shares authorized (in shares) |  | 90,000,000 | 90,000,000
Common stock, shares issued (in shares) |  | 36,601,215 | 36,601,215
Treasury stock, shares (in shares) |  | 4,532,701 | 2,920,200
Homebuilding |  |  |
Total assets | [1] | $ 35,594,469 | $ 33,628,392
Cash and cash equivalents | [1] | 4,662,643 | 6,273,724
Receivables, net | [1] | 1,053,211 | 887,992
Finished homes and construction in progress | [1] | 10,884,861 | 10,455,666
Land and land under development | [1] | 4,750,025 | 4,904,541
Consolidated inventory not owned | [1] | 4,084,665 | 2,992,528
Investments in unconsolidated entities | [1] | 1,344,836 | 1,143,909
Other assets | [1] | 1,734,698 | 1,512,038
Total liabilities | [2] | 10,863,209 | 9,727,994
Accounts payable | [2] | 1,839,440 | 1,631,401
Senior notes and other debts payable, net | [2] | 2,258,283 | 2,816,482
Liabilities related to consolidated inventory not owned | [2] | 3,563,934 | 2,540,894
Other liabilities | [2] | 3,201,552 | 2,739,217
Homebuilding | Variable Interest Entity, Primary Beneficiary |  |  |
Cash and cash equivalents |  | 67,000 | 22,800
Receivables, net |  | 6,000 | 1,800
Finished homes and construction in progress |  | 9,700 | 18,300
Land and land under development |  | 602,900 | 628,000
Inventory, Real Estate, Homebuilding deposits and pre-acquisition costs |  | 71,800 | 55,000
Consolidated inventory not owned |  | 2,800,000 | 1,200,000
Investments in unconsolidated entities |  | 300 | 300
Other assets |  | 42,300 | 23,000
Accounts payable |  | 67,300 | 53,700
Senior notes and other debts payable, net |  | 6,000 |
Liabilities related to consolidated inventory not owned |  | 2,600,000 | 1,100,000
Other liabilities |  | 45,800 | 38,100
Lennar Other |  |  |
Total assets | [1] | 894,944 | 657,852
Total liabilities | [2] | 105,756 | 79,127
Multifamily |  |  |
Total assets | [1] | 1,306,818 | 1,381,513
Total liabilities | [2] | 181,883 | 278,177
Multifamily | Variable Interest Entity, Primary Beneficiary |  |  |
Total assets |  | 33,900 | 32,600
Total liabilities |  | $ 1,000 | $ 4,100
[1] | Under certain provisions of Accounting Standards Codification ("ASC") Topic 810, Consolidations, ("ASC 810") the Company is required to separately disclose on its consolidated balance sheets the assets of consolidated variable interest entities ("VIEs") that are owned by the consolidated VIEs and liabilities of consolidated VIEs as to which there is no recourse against the Company. As of November 30, 2024, total assets include $3.7 billion related to consolidated VIEs of which $67.0 million is included in Homebuilding cash and cash equivalents, $6.0 million in Homebuilding receivables, net, $9.7 million in Homebuilding finished homes and construction in progress, $602.9 million in Homebuilding land and land under development, $2.8 billion in Homebuilding consolidated inventory not owned, $71.8 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities, $42.3 million in Homebuilding other assets and $33.9 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.
[2] | As of November 30, 2024, total liabilities include $2.7 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $67.3 million is included in Homebuilding accounts payable, $2.6 billion in Homebuilding liabilities related to consolidated inventory not owned, $6.0 million in Homebuilding senior notes and other debts payable, net, $45.8 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.

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