Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share |
Basic and diluted earnings per share were calculated as follows: | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | August 31, | | August 31, | (In thousands, except per share amounts) | 2014 | | 2013 | | 2014 | | 2013 | Numerator: | | | | | | | | Net earnings attributable to Lennar | $ | 177,757 |
| | 120,662 |
| | 393,593 |
| | 315,590 |
| Less: distributed earnings allocated to nonvested shares | 109 |
| | 122 |
| | 305 |
| | 326 |
| Less: undistributed earnings allocated to nonvested shares | 2,124 |
| | 1,712 |
| | 4,486 |
| | 4,090 |
| Numerator for basic earnings per share | 175,524 |
| | 118,828 |
| | 388,802 |
| | 311,174 |
| Plus: interest on 3.25% convertible senior notes due 2021 and 2.00% convertible senior notes due 2020 (1) | 1,982 |
| | 2,826 |
| | 5,946 |
| | 8,477 |
| Plus: undistributed earnings allocated to convertible shares | 2,124 |
| | 1,712 |
| | 4,486 |
| | 4,090 |
| Less: undistributed earnings reallocated to convertible shares | 1,908 |
| | 1,489 |
| | 4,047 |
| | 3,549 |
| Numerator for diluted earnings per share | $ | 177,722 |
| | 121,877 |
| | 395,187 |
| | 320,192 |
| Denominator: | | | | | | | | Denominator for basic earnings per share - weighted average common shares outstanding | 202,354 |
| | 190,799 |
| | 202,103 |
| | 190,119 |
| Effect of dilutive securities: | | | | | | | | Share-based payments | 5 |
| | 90 |
| | 8 |
| | 334 |
| Convertible senior notes | 25,869 |
| | 34,446 |
| | 25,846 |
| | 35,549 |
| Denominator for diluted earnings per share - weighted average common shares outstanding | 228,228 |
| | 225,335 |
| | 227,957 |
| | 226,002 |
| Basic earnings per share | $ | 0.87 |
| | 0.62 |
| | 1.92 |
| | 1.64 |
| Diluted earnings per share | $ | 0.78 |
| | 0.54 |
| | 1.73 |
| | 1.42 |
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| | (1) | Interest on the 2.00% convertible senior notes due 2020 is included in the three and nine months ended August 31, 2013 because the holders of the 2.00% convertible senior notes due 2020 converted the notes into shares of Class A common stock on November 30, 2013. |
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