v3.26.1
Operating and Reporting Segments (Disclosure Of Assets and Liabilities) (Details) - USD ($)
$ in Thousands
May 31, 2026
Nov. 30, 2025
May 31, 2025
Segment Reporting Information [Line Items]      
Total assets [1] $ 33,701,455 $ 34,430,437  
Total liabilities [2] 11,935,729 12,289,828  
Equity securities without readily determinable fair values 113,200 114,400  
Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 2,091,695 3,756,305  
Restricted cash 82,083 74,429  
Receivables, net 1,473,804 1,470,862  
Inventory owned and consolidated inventory not owned 12,584,262 11,841,255  
Loans held-for-sale 1,939,919 2,212,624  
Investments in equity securities 202,758 346,820  
Investments available-for-sale 38,725 39,060  
Investments held-to-maturity 129,320 132,868  
Deposits and pre-acquisition costs on real estate 7,066,330 6,398,729  
Investments in unconsolidated entities 2,335,207 2,422,436  
Goodwill 3,632,058 3,632,058  
Other assets 2,125,294 2,102,991  
Senior notes and other debts payable, net 6,011,233 5,874,995  
Liabilities related to consolidated inventory not owned 1,312,689 1,476,376  
Accounts payable and other liabilities 4,611,807 4,938,457  
Homebuilding      
Segment Reporting Information [Line Items]      
Cash and cash equivalents [1] 1,816,248 3,441,324  
Restricted cash [1] 29,204 25,930  
Receivables, net [1] 978,796 1,002,629  
Inventory owned and consolidated inventory not owned [1] 12,383,718 11,617,633  
Deposits and pre-acquisition costs on real estate 7,061,935 6,383,633  
Investments in unconsolidated entities [1] 1,478,719 1,545,370  
Goodwill [1] 3,442,359 3,442,359  
Other assets [1] 1,785,201 1,794,378  
Total assets [1] 28,976,180 29,253,256  
Senior notes and other debts payable, net [2] 4,047,487 4,084,686  
Liabilities related to consolidated inventory not owned [2] 1,312,689 1,476,376  
Total liabilities [2] 9,615,700 10,065,422  
Homebuilding | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 1,816,248 3,441,324 $ 1,168,143
Restricted cash 29,204 25,930 23,987
Receivables, net 978,796 1,002,629  
Inventory owned and consolidated inventory not owned 12,383,718 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 7,061,935 6,383,633  
Investments in unconsolidated entities 1,478,719 1,545,370  
Goodwill 3,442,359 3,442,359  
Other assets 1,785,201 1,794,378  
Total assets 28,976,180 29,253,256  
Senior notes and other debts payable, net 4,047,487 4,084,686  
Liabilities related to consolidated inventory not owned 1,312,689 1,476,376  
Accounts payable and other liabilities 4,255,524 4,504,360  
Total liabilities 9,615,700 10,065,422  
Lennar Financial Services      
Segment Reporting Information [Line Items]      
Total assets [1] 3,123,509 3,377,413  
Total liabilities [2] 2,151,670 2,010,598  
Lennar Financial Services | Carrying Value | Level 3      
Segment Reporting Information [Line Items]      
Loans held for sale 13,830 15,547  
Lennar Financial Services | Fair Value | Level 3      
Segment Reporting Information [Line Items]      
Loans held for sale 13,959 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 13,800 15,500  
Lennar Financial Services | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 242,588 258,873 202,647
Restricted cash 52,879 48,499 47,334
Receivables, net 462,311 429,560  
Inventory owned and consolidated inventory not owned 0 0  
Loans held-for-sale 1,939,919 2,212,624  
Investments in equity securities 0 0  
Investments available-for-sale 0 0  
Investments held-to-maturity 129,320 132,868  
Deposits and pre-acquisition costs on real estate 0 0  
Investments in unconsolidated entities 679 2,528  
Goodwill 189,699 189,699  
Other assets 106,114 102,762  
Total assets 3,123,509 3,377,413  
Senior notes and other debts payable, net 1,963,746 1,790,309  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 187,924 220,289  
Total liabilities 2,151,670 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] 801,356 902,136  
Total liabilities [2] 76,768 113,361  
Multifamily | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 10,657 34,172 14,211
Restricted cash 0 0  
Receivables, net 32,697 38,673  
Inventory owned and consolidated inventory not owned 200,544 223,622  
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 4,395 15,096  
Investments in unconsolidated entities 491,325 506,573  
Goodwill 0 0  
Other assets 61,738 84,000  
Total assets 801,356 902,136  
Senior notes and other debts payable, net 0 0  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 76,768 113,361  
Total liabilities 76,768 113,361  
Lennar Other      
Segment Reporting Information [Line Items]      
Total assets [1] 800,410 897,632  
Total liabilities [2] 91,591 100,447  
Lennar Other | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 22,202 21,936 $ 22,693
Restricted cash 0 0  
Receivables, net 0 0  
Inventory owned and consolidated inventory not owned 0 0  
Loans held-for-sale 0 0  
Investments in equity securities 202,758 346,820  
Investments available-for-sale 38,725 39,060  
Investments held-to-maturity 0 0  
Deposits and pre-acquisition costs on real estate 0 0  
Investments in unconsolidated entities 364,484 367,965  
Goodwill 0 0  
Other assets 172,241 121,851  
Total assets 800,410 897,632  
Senior notes and other debts payable, net 0 0  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 91,591 100,447  
Total liabilities $ 91,591 $ 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 May 31, 2026, total assets include $1.4 billion related to consolidated VIEs of which $45.6 million is included in Homebuilding cash and cash equivalents, $31.5 million in Homebuilding finished homes and construction in progress, $223.3 million in Homebuilding land and land under development, $958.4 million in Homebuilding consolidated inventory not owned, $102.5 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities and $24.2 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 May 31, 2026, total liabilities include $920.2 million related to consolidated VIEs as to which there was no recourse against the Company, of which $9.3 million is included in Homebuilding accounts payable, $907.7 million in Homebuilding liabilities related to consolidated inventory not owned, $2.5 million in Homebuilding other liabilities, and $0.7 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.