v3.26.1
Operating and Reporting Segments (Disclosure Of Assets and Liabilities) (Details) - USD ($)
$ in Thousands
Feb. 28, 2026
Nov. 30, 2025
Feb. 28, 2025
Segment Reporting Information [Line Items]      
Total assets [1] $ 33,210,342 $ 34,430,437  
Total liabilities [2] 11,178,079 12,289,828  
Equity securities without readily determinable fair values 114,400    
Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 2,352,642 3,756,305  
Restricted cash 42,168 74,429  
Receivables, net 1,306,260 1,470,862  
Inventory owned and consolidated inventory not owned 12,334,945 11,841,255  
Loans held-for-sale 1,847,078 2,212,624  
Investments in equity securities 222,460 346,820  
Investments available-for-sale 38,655 39,060  
Investments held-to-maturity 130,997 132,868  
Deposits and pre-acquisition costs on real estate 6,832,704 6,398,729  
Investments in unconsolidated entities 2,318,102 2,422,436  
Goodwill 3,632,058 3,632,058  
Other assets 2,152,273 2,102,991  
Senior notes and other debts payable, net 5,256,465 5,874,995  
Liabilities related to consolidated inventory not owned 1,447,697 1,476,376  
Accounts payable and other liabilities 4,473,917 4,938,457  
Homebuilding      
Segment Reporting Information [Line Items]      
Cash and cash equivalents [1] 2,085,384 3,441,324  
Restricted cash [1] 27,541 25,930  
Receivables, net [1] 960,912 1,002,629  
Inventory owned and consolidated inventory not owned [1] 12,122,063 11,617,633  
Deposits and pre-acquisition costs on real estate 6,824,948 6,383,633  
Investments in unconsolidated entities [1] 1,479,812 1,545,370  
Goodwill [1] 3,442,359 3,442,359  
Other assets [1] 1,787,517 1,794,378  
Total assets [1] 28,730,536 29,253,256  
Senior notes and other debts payable, net [2] 4,065,459 4,084,686  
Liabilities related to consolidated inventory not owned [2] 1,447,697 1,476,376  
Total liabilities [2] 9,604,090 10,065,422  
Homebuilding | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 2,085,384 3,441,324 $ 2,283,928
Restricted cash 27,541 25,930 22,487
Receivables, net 960,912 1,002,629  
Inventory owned and consolidated inventory not owned 12,122,063 11,617,633  
Loans held-for-sale 0 0  
Investments in equity securities 0 0  
Investments available-for-sale 0 0  
Investments held-to-maturity 0 0  
Deposits and pre-acquisition costs on real estate 6,824,948 6,383,633  
Investments in unconsolidated entities 1,479,812 1,545,370  
Goodwill 3,442,359 3,442,359  
Other assets 1,787,517 1,794,378  
Total assets 28,730,536 29,253,256  
Senior notes and other debts payable, net 4,065,459 4,084,686  
Liabilities related to consolidated inventory not owned 1,447,697 1,476,376  
Accounts payable and other liabilities 4,090,934 4,504,360  
Total liabilities 9,604,090 10,065,422  
Lennar Financial Services      
Segment Reporting Information [Line Items]      
Total assets [1] 2,808,039 3,377,413  
Total liabilities [2] 1,390,277 2,010,598  
Lennar Financial Services | Carrying Value | Level 3      
Segment Reporting Information [Line Items]      
Loans held for sale 15,278 15,547  
Lennar Financial Services | Fair Value | Level 3      
Segment Reporting Information [Line Items]      
Loans held for sale 15,278 15,547  
Lennar Financial Services | Fair Value | Level 3 | Scenario, Adjustment      
Segment Reporting Information [Line Items]      
Loans held for sale   50,300  
Lennar Financial Services | Fair Value | Level 3 | Residential Mortgage      
Segment Reporting Information [Line Items]      
Loans held for sale 15,300 15,500  
Lennar Financial Services | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 210,147 258,873 188,833
Restricted cash 14,627 48,499 48,756
Receivables, net 305,460 429,560  
Inventory owned and consolidated inventory not owned 0 0  
Loans held-for-sale 1,847,078 2,212,624  
Investments in equity securities 0 0  
Investments available-for-sale 0 0  
Investments held-to-maturity 130,997 132,868  
Deposits and pre-acquisition costs on real estate 0 0  
Investments in unconsolidated entities 2,431 2,528  
Goodwill 189,699 189,699  
Other assets 107,600 102,762  
Total assets 2,808,039 3,377,413  
Senior notes and other debts payable, net 1,191,006 1,790,309  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 199,271 220,289  
Total liabilities 1,390,277 2,010,598  
Lennar Financial Services | Operating Segments | Disposal Group, Held-for-Sale, Not Discontinued Operations | Carrying Value      
Segment Reporting Information [Line Items]      
Loans held-for-investment, net   61,000  
Multifamily      
Segment Reporting Information [Line Items]      
Total assets [1] 842,100 902,136  
Total liabilities [2] 88,547 113,361  
Multifamily | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 32,623 34,172 15,030
Restricted cash 0 0  
Receivables, net 39,888 38,673  
Inventory owned and consolidated inventory not owned 212,882 223,622  
Loans held-for-sale 0 0  
Investments in equity securities 0 0  
Investments available-for-sale 0 0  
Investments held-to-maturity 0 0  
Deposits and pre-acquisition costs on real estate 7,756 15,096  
Investments in unconsolidated entities 474,767 506,573  
Goodwill 0 0  
Other assets 74,184 84,000  
Total assets 842,100 902,136  
Senior notes and other debts payable, net 0 0  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 88,547 113,361  
Total liabilities 88,547 113,361  
Lennar Other      
Segment Reporting Information [Line Items]      
Total assets [1] 829,667 897,632  
Total liabilities [2] 95,165 100,447  
Lennar Other | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 24,488 21,936 $ 28,981
Restricted cash 0 0  
Receivables, net 0  
Inventory owned and consolidated inventory not owned 0 0  
Loans held-for-sale 0 0  
Investments in equity securities 222,460 346,820  
Investments available-for-sale 38,655 39,060  
Investments held-to-maturity 0 0  
Deposits and pre-acquisition costs on real estate 0 0  
Investments in unconsolidated entities 361,092 367,965  
Goodwill 0 0  
Other assets 182,972 121,851  
Total assets 829,667 897,632  
Senior notes and other debts payable, net 0 0  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 95,165 100,447  
Total liabilities $ 95,165 $ 100,447  
[1] Under certain provisions of Accounting Standards Codification (“ASC”) Topic 810, Consolidations (“ASC 810”), the Company is required to separately disclose on its condensed consolidated balance sheets the assets owned by consolidated variable interest entities (“VIEs”) and liabilities of consolidated VIEs as to which neither Lennar Corporation, nor any of its subsidiaries, has any obligations.
As of February 28, 2026, total assets include $1.5 billion related to consolidated VIEs of which $49.7 million is included in Homebuilding cash and cash equivalents, $0.2 million in Homebuilding receivables, net, $38.2 million in Homebuilding finished homes and construction in progress, $232.9 million in Homebuilding land and land under development, $1.0 billion in Homebuilding consolidated inventory not owned, $94.1 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities, $1.7 million in Homebuilding other assets and $24.7 million in Multifamily assets.
As of November 30, 2025, total assets include $1.5 billion related to consolidated VIEs of which $61.1 million is included in Homebuilding cash and cash equivalents, $2.0 million in Homebuilding receivables, net, $45.6 million in Homebuilding finished homes and construction in progress, $300.3 million in Homebuilding land and land under development, $984.4 million in Homebuilding consolidated inventory not owned, $88.3 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities, $8.9 million in Homebuilding other assets and $25.0 million in Multifamily assets.
[2] As of February 28, 2026, total liabilities include $1.0 billion related to consolidated VIEs as to which there was no recourse against the Company, of which $15.5 million is included in Homebuilding accounts payable, $961.7 million in Homebuilding liabilities related to consolidated inventory not owned, $1.2 million in Homebuilding other liabilities, and $1.0 million in Multifamily liabilities.
As of November 30, 2025, total liabilities include $962.4 million related to consolidated VIEs as to which there was no recourse against the Company, of which $23.8 million is included in Homebuilding accounts payable, $930.1 million in Homebuilding liabilities related to consolidated inventory not owned, $6.0 million in Homebuilding senior notes and other debts payable, net, $1.5 million in Homebuilding other liabilities, and $1.0 million in Multifamily liabilities.