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Earnings Per Share (Tables)
9 Months Ended
Aug. 31, 2017
Earnings Per Share [Abstract]  
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)
2017
 
2016
 
2017
 
2016
Numerator:
 
 
 
 
 
 
 
Net earnings attributable to Lennar
$
249,165

 
235,842

 
500,890

 
598,391

Less: distributed earnings allocated to nonvested shares
88

 
81

 
290

 
256

Less: undistributed earnings allocated to nonvested shares
2,358

 
2,232

 
4,600

 
5,798

Numerator for basic earnings per share
246,719

 
233,529

 
496,000

 
592,337

Less: net amount attributable to noncontrolling interests in Rialto's Carried Interest Incentive Plan (1)
294

 
258

 
845

 
864

Plus: interest on 3.25% convertible senior notes due 2021

 
964

 

 
4,836

Plus: undistributed earnings allocated to convertible shares

 
2,232

 

 
5,797

Less: undistributed earnings reallocated to convertible shares

 
2,162

 

 
5,484

Numerator for diluted earnings per share
$
246,425

 
234,305

 
495,155

 
596,622

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per share - weighted average common shares outstanding
232,673

 
223,549

 
232,361

 
215,814

Effect of dilutive securities:
 
 
 
 
 
 
 
Share-based payments
1

 
3

 
2

 
4

Convertible senior notes

 
8,266

 

 
14,399

Denominator for diluted earnings per share - weighted average common shares outstanding
232,674

 
231,818

 
232,363

 
230,217

Basic earnings per share
$
1.06

 
1.04

 
2.13

 
2.74

Diluted earnings per share
$
1.06

 
1.01

 
2.13

 
2.59


(1)
The amounts presented relate to Rialto's Carried Interest Incentive Plan adopted in June 2015 (see Note 9) and represents the difference between the advanced tax distributions received by Rialto's subsidiary and the amount Lennar, as the parent company, is assumed to own.