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 six months ended May 31, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended May 31, 2025 | (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 February 28, 2025 | $ | 22,867,344 | | | 26,133 | | | 3,660 | | | 5,812,802 | | | (4,424,039) | | | 7,351 | | | 21,302,131 | | | 139,306 | | Net earnings (including net earnings attributable to noncontrolling interests) | 481,820 | | | — | | | — | | | — | | | — | | | — | | | 477,449 | | | 4,371 | | Employee stock and directors plans | 722 | | | 3 | | | — | | | 1,157 | | | (438) | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | Purchases of treasury stock | (520,981) | | | — | | | — | | | — | | | (520,981) | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amortization of restricted stock | 28,773 | | | — | | | — | | | 28,773 | | | — | | | — | | | — | | | — | | Cash dividends | (133,589) | | | — | | | — | | | — | | | — | | | — | | | (133,589) | | | — | | | | | | | | | | | | | | | | | | Receipts related to noncontrolling interests | 9,701 | | | — | | | — | | | — | | | — | | | — | | | — | | | 9,701 | | Payments related to noncontrolling interests | (576) | | | — | | | — | | | — | | | — | | | — | | | — | | | (576) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total other comprehensive loss, net of tax | (1,332) | | | — | | | — | | | — | | | — | | | (1,332) | | | — | | | — | | Balance at May 31, 2025 | $ | 22,731,882 | | | 26,136 | | | 3,660 | | | 5,842,732 | | | (4,945,458) | | | 6,019 | | | 21,645,991 | | | 152,802 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended May 31, 2024 | (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 February 29, 2024 | $ | 26,777,930 | | | 25,983 | | | 3,660 | | | 5,651,836 | | | (1,988,200) | | | 5,241 | | | 22,949,315 | | | 130,095 | | Net earnings (including net earnings attributable to noncontrolling interests) | 960,586 | | | — | | | — | | | — | | | — | | | — | | | 954,311 | | | 6,275 | | Employee stock and directors plans | (1,046) | | | 13 | | | — | | | 1,277 | | | (2,336) | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | Purchases of treasury stock | (607,270) | | | — | | | — | | | — | | | (607,270) | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amortization of restricted stock | 34,506 | | | — | | | — | | | 34,506 | | | — | | | — | | | — | | | — | | Cash dividends | (138,931) | | | — | | | — | | | — | | | — | | | — | | | (138,931) | | | — | | | | | | | | | | | | | | | | | | Receipts related to noncontrolling interests | 8,926 | | | — | | | — | | | — | | | — | | | — | | | — | | | 8,926 | | Payments related to noncontrolling interests | (24,667) | | | — | | | — | | | — | | | — | | | — | | | — | | | (24,667) | | | | | | | | | | | | | | | | | | Non-cash purchase or activity of noncontrolling interests, net | 4,364 | | | — | | | — | | | (12,886) | | | — | | | — | | | — | | | 17,250 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total other comprehensive income, net of tax | 1,355 | | | — | | | — | | | — | | | — | | | 1,355 | | | — | | | — | | Balance at May 31, 2024 | $ | 27,015,753 | | | 25,996 | | | 3,660 | | | 5,674,733 | | | (2,597,806) | | | 6,596 | | | 23,764,695 | | | 137,879 | |
The following table sets forth the repurchases of the Company's Class A and Class B common stock under the authorized repurchase programs: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended May 31, | | Six Months Ended May 31, | | | | | | 2025 | | 2024 | | 2025 | | 2024 | (Dollars in thousands, except price per share amounts) | Class A | | Class B | | Class A | | Class B | | Class A | | Class B | | Class A | | Class B | Shares repurchased | 4,501,936 | | | 204,515 | | | 3,393,475 | | | 406,525 | | | 9,271,936 | | | 663,320 | | | 6,419,603 | | | 780,397 | | Total purchase price | $ | 495,230 | | | $ | 21,504 | | | $ | 543,276 | | | $ | 59,570 | | | $ | 1,139,849 | | | $ | 79,625 | | | $ | 998,064 | | | $ | 111,207 | | Average price per share | $ | 110.00 | | | $ | 105.15 | | | $ | 160.09 | | | $ | 146.54 | | | $ | 122.94 | | | $ | 120.04 | | | $ | 155.47 | | | $ | 142.50 | |
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