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Stockholders' Equity (Tables)
9 Months Ended
Aug. 31, 2020
Equity [Abstract]  
Schedule of Changes in Equity
The following tables reflect the changes in equity attributable to both Lennar Corporation and the noncontrolling interests of its consolidated subsidiaries in which it has less than a 100% ownership interest for the three and nine months ended August 31, 2020 and 2019:
 
 
 
Three Months Ended August 31, 2020
 
 
(In thousands)
Total
Equity
 
Class A
Common Stock
 
Class B
Common Stock
 
Additional
Paid - in Capital
 
Treasury
Stock
 
Accumulated Other Comprehensive Income (Loss)
 
Retained
Earnings
 
Noncontrolling
Interests
Balance at May 31, 2020
$
16,632,624

 
29,804

 
3,944

 
8,630,442

 
(1,253,863
)
 
(338
)
 
9,132,714

 
89,921

Net earnings (including net earnings attributable to noncontrolling interests)
669,323

 

 

 

 

 

 
666,418

 
2,905

Employee stock and directors plans
(22,843
)
 
90

 

 
(105
)
 
(22,828
)
 

 

 

Amortization of restricted stock
28,658

 

 

 
28,658

 

 

 

 

Cash dividends
(38,967
)
 

 

 

 

 

 
(38,967
)
 

Receipts related to noncontrolling interests
6,504

 

 

 

 

 

 

 
6,504

Payments related to noncontrolling interests
(7,949
)
 

 

 

 

 

 

 
(7,949
)
Non-cash purchase or activity of noncontrolling interests, net

(4,259
)
 

 

 
(4,041
)
 

 

 

 
(218
)
Non-cash consolidations/deconsolidations, net
17,079

 

 

 

 

 

 

 
17,079

Total other comprehensive income, net of tax
175

 

 

 

 

 
175

 

 

Balance at August 31, 2020
$
17,280,345

 
29,894

 
3,944

 
8,654,954

 
(1,276,691
)
 
(163
)
 
9,760,165

 
108,242

 
 
 
Three Months Ended August 31, 2019
 
 
(In thousands)
Total
Equity
 
Class A
Common Stock
 
Class B
Common Stock
 
Additional
Paid - in Capital
 
Treasury
Stock
 
Accumulated Other Comprehensive Income)
 
Retained
Earnings
 
Noncontrolling
Interests
Balance at May 31, 2019
$
15,246,535

 
29,503

 
3,944

 
8,529,828

 
(537,106
)
 
227

 
7,132,908

 
87,231

Net earnings (including net loss attributable to noncontrolling interests)
512,643

 

 

 

 

 

 
513,366

 
(723
)
Employee stock and directors plans
(22,359
)
 
206

 

 
(400
)
 
(22,165
)
 

 

 

Purchases of treasury stock
(295,930
)
 

 

 

 
(295,930
)
 

 

 

Amortization of restricted stock
34,048

 

 

 
34,048

 

 

 

 

Cash dividends
(12,899
)
 

 

 

 

 


(12,899
)
 

Receipts related to noncontrolling interests
18,458

 

 

 

 

 

 

 
18,458

Payments related to noncontrolling interests
(12,372
)
 

 

 

 

 

 

 
(12,372
)
Non-cash activity related to noncontrolling interests
(2,357
)
 

 

 
(3,772
)
 

 

 

 
1,415

Total other comprehensive income, net of tax
180

 

 

 

 

 
180

 

 

Balance at August 31, 2019
$
15,465,947

 
29,709

 
3,944

 
8,559,704

 
(855,201
)
 
407

 
7,633,375

 
94,009


 
 
 
Nine Months Ended August 31, 2020
 
 
(In thousands)
Total
Equity
 
Class A
Common Stock
 
Class B
Common Stock
 
Additional
Paid - in Capital
 
Treasury
Stock
 
Accumulated Other Comprehensive Income (Loss)
 
Retained
Earnings
 
Noncontrolling
Interests
Balance at November 30, 2019
$
16,033,830

 
29,712

 
3,944

 
8,578,219

 
(957,857
)
 
498

 
8,295,001

 
84,313

Net earnings (including net loss attributable to noncontrolling interests)
1,576,644

 

 

 

 

 

 
1,582,276

 
(5,632
)
Employee stock and directors plans
(29,616
)
 
182

 

 
521

 
(30,319
)
 

 

 

Purchases of treasury stock
(288,515
)
 

 

 

 
(288,515
)
 

 

 

Amortization of restricted stock
83,799

 

 

 
83,799

 

 

 

 

Cash dividends
(117,112
)
 

 

 

 

 


(117,112
)
 

Receipts related to noncontrolling interests
175,565

 

 

 

 

 

 

 
175,565

Payments related to noncontrolling interests
(29,450
)
 

 

 

 

 

 

 
(29,450
)
Non-cash purchase or activity of noncontrolling interests, net

(9,427
)
 

 

 
(7,585
)
 

 

 

 
(1,842
)
Non-cash consolidations/deconsolidations, net
(114,712
)
 

 

 

 

 

 

 
(114,712
)
Total other comprehensive loss, net of tax
(661
)
 

 

 

 

 
(661
)
 

 

Balance at August 31, 2020
$
17,280,345

 
29,894

 
3,944

 
8,654,954

 
(1,276,691
)
 
(163
)
 
9,760,165

 
108,242


 
 
 
Nine Months Ended August 31, 2019
 
 
(In thousands)
Total
Equity
 
Class A
Common Stock
 
Class B
Common Stock
 
Additional
Paid - in Capital
 
Treasury
Stock
 
Accumulated Other Comprehensive Income (Loss)
 
Retained
Earnings
 
Noncontrolling
Interests
Balance at November 30, 2018
$
14,682,957

 
29,499

 
3,944

 
8,496,677

 
(435,869
)
 
(366
)
 
6,487,650

 
101,422

Net earnings (including net loss attributable to noncontrolling interests)
1,170,936

 

 

 

 

 

 
1,174,748

 
(3,812
)
Employee stock and directors plans
(23,050
)
 
210

 

 
1,361

 
(24,621
)
 

 

 

Purchases of treasury stock
(394,711
)
 

 

 

 
(394,711
)
 

 

 

Amortization of restricted stock
65,438

 

 

 
65,438

 

 

 

 

Cash dividends
(38,776
)
 

 

 

 

 


(38,776
)
 

Receipts related to noncontrolling interests
27,395

 

 

 

 

 

 

 
27,395

Payments related to noncontrolling interests
(35,689
)
 

 

 

 

 

 

 
(35,689
)
Non-cash consolidations, net
8,894

 

 

 

 

 

 

 
8,894

Cumulative-effect of accounting change
9,753

 

 

 

 

 

 
9,753

 

Non cash activity related to noncontrolling interests
(7,973
)
 

 

 
(3,772
)
 

 

 

 
(4,201
)
Total other comprehensive income, net of tax
773

 

 

 

 

 
773

 

 

Balance at August 31, 2019
$
15,465,947

 
29,709

 
3,944

 
8,559,704

 
(855,201
)
 
407

 
7,633,375

 
94,009


The following table represents the repurchase of the Company's Class A and Class B common stocks, under this program, for the three and nine months ended August 31, 2020 and 2019:
 
 
Three Months Ended
 
Nine Months Ended
 
 
August 31, 2020
 
August 31, 2019
 
August 31, 2020
 
August 31, 2019
(Dollars in thousands, except price per share)
 
Class A
 
Class B
 
Class A
 
Class B
 
Class A
 
Class B
 
Class A
 
Class B
Shares repurchased
 

 

 
6,110,000

 

 
4,250,000

 
115,000

 
8,110,000

 

Principal
 
$

 
$

 
$
295,930

 
$

 
$
282,274

 
$
6,155

 
$
394,710

 
$

Average price per share
 
$

 
$

 
$
48.41

 
$

 
$
66.42

 
$
53.52

 
$
48.65

 
$