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 |
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| | (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. |
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