v3.26.3
Operating and Reporting Segments (Disclosure Of Assets and Liabilities) (Details) - USD ($)
$ in Thousands
Aug. 31, 2026
Nov. 30, 2025
Aug. 31, 2025
Segment Reporting Information [Line Items]      
Senior notes and other debts payable, net $ 5,881,699 $ 5,874,995  
Equity securities without readily determinable fair values 72,700 114,400  
Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 1,426,451 3,756,305  
Restricted cash 72,439 74,429  
Receivables, net 1,269,138 1,470,862  
Inventory owned and consolidated inventory not owned 13,149,578 11,841,255  
Loans held-for-sale 1,776,305 2,212,624  
Investments in equity securities 131,350 346,820  
Investments available-for-sale 38,804 39,060  
Investments held-to-maturity 124,407 132,868  
Deposits and pre-acquisition costs on real estate 7,331,592 6,398,729  
Investments in unconsolidated entities 2,323,271 2,422,436  
Goodwill 3,632,058 3,632,058  
Other assets 2,102,832 2,102,991  
Total assets [1] 33,378,225 34,430,437  
Liabilities related to consolidated inventory not owned 1,250,439 1,476,376  
Accounts payable and other liabilities 4,549,667 4,938,457  
Total liabilities [2] 11,681,805 12,289,828  
Homebuilding      
Segment Reporting Information [Line Items]      
Inventory owned and consolidated inventory not owned [1] 12,943,439 11,617,633  
Investments in unconsolidated entities 1,470,473 1,545,370  
Homebuilding | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 1,150,115 [1] 3,441,324 [1] $ 1,406,215
Restricted cash 34,093 [1] 25,930 [1] 29,928
Receivables, net [1] 924,858 1,002,629  
Inventory owned and consolidated inventory not owned 12,943,439 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 7,327,193 6,383,633  
Investments in unconsolidated entities [1] 1,470,473 1,545,370  
Goodwill [1] 3,442,359 3,442,359  
Other assets [1] 1,803,804 1,794,378  
Total assets [1] 29,096,334 29,253,256  
Senior notes and other debts payable, net 4,297,251 4,084,686  
Liabilities related to consolidated inventory not owned [2] 1,250,439 1,476,376  
Accounts payable and other liabilities 4,244,909 4,504,360  
Total liabilities [2] 9,792,599 10,065,422  
Lennar Financial Services | Carrying Value | Level 3      
Segment Reporting Information [Line Items]      
Loans held for sale 13,693 15,547  
Lennar Financial Services | Fair Value | Level 3      
Segment Reporting Information [Line Items]      
Loans held for sale 13,693 15,547  
Lennar Financial Services | Fair Value | Level 3 | Residential Mortgage      
Segment Reporting Information [Line Items]      
Loans held for sale 13,700 15,500  
Lennar Financial Services | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 225,506 258,873 216,129
Restricted cash 38,346 48,499 64,856
Receivables, net 309,237 429,560  
Inventory owned and consolidated inventory not owned 0 0  
Loans held-for-sale 1,776,305 2,212,624  
Investments in equity securities 0 0  
Investments available-for-sale 0 0  
Investments held-to-maturity 124,407 132,868  
Deposits and pre-acquisition costs on real estate 0 0  
Investments in unconsolidated entities 644 2,528  
Goodwill 189,699 189,699  
Other assets 106,508 102,762  
Total assets [1] 2,770,652 3,377,413  
Senior notes and other debts payable, net 1,584,448 1,790,309  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 136,120 220,289  
Total liabilities [2] 1,720,568 2,010,598  
Multifamily | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 23,527 34,172 17,337
Restricted cash 0 0  
Receivables, net 35,043 38,673  
Inventory owned and consolidated inventory not owned 206,139 223,622  
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 4,399 15,096  
Investments in unconsolidated entities 488,775 506,573  
Goodwill 0 0  
Other assets 57,156 84,000  
Total assets [1] 815,039 902,136  
Senior notes and other debts payable, net 0 0  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 76,247 113,361  
Total liabilities [2] 76,247 113,361  
Lennar Other | Operating Segments      
Segment Reporting Information [Line Items]      
Cash and cash equivalents 27,303 21,936 $ 22,532
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 131,350 346,820  
Investments available-for-sale 38,804 39,060  
Investments held-to-maturity 0 0  
Deposits and pre-acquisition costs on real estate 0 0  
Investments in unconsolidated entities 363,379 367,965  
Goodwill 0 0  
Other assets 135,364 121,851  
Total assets [1] 696,200 897,632  
Senior notes and other debts payable, net 0 0  
Liabilities related to consolidated inventory not owned 0 0  
Accounts payable and other liabilities 92,391 100,447  
Total liabilities [2] $ 92,391 $ 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 August 31, 2026, total assets include $1.4 billion related to consolidated VIEs of which $29.6 million is included in Homebuilding cash and cash equivalents, $16.4 million in Homebuilding finished homes and construction in progress, $258.9 million in Homebuilding land and land under development, $951.6 million in Homebuilding consolidated inventory not owned, $108.5 million in Homebuilding deposits and pre-acquisition costs on real estate, $0.3 million in Homebuilding investments in unconsolidated entities and $23.9 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 August 31, 2026, total liabilities include $920.8 million related to consolidated VIEs as to which there was no recourse against the Company, of which $8.2 million is included in Homebuilding accounts payable, $901.9 million in Homebuilding liabilities related to consolidated inventory not owned, $6.9 million in Homebuilding senior notes and other debts payable, net, $2.8 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.