10-Q Filing

LENNAR CORP /NEW/ CIK: 920760 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001628280-15-005207`
Period End Date	20150531
Filing Date	20150702
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	len-20150531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 33 Income Statement 56 Cash Flow Statement 88

Balance Sheet 33 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$960.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$970.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.28B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$920.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$970.50M	USD	Point-in-time
Total consolidated VIEs assets	`VariableInterestEntityConsolidatedCarryingAmountAssets`	$929.08M	USD	Point-in-time
Total consolidated VIEs assets	`VariableInterestEntityConsolidatedCarryingAmountAssets`	$709.35M	USD	Point-in-time
Total assets	`Assets`	$13.90B	USD	Point-in-time
Total assets	`Assets`	$12.96B	USD	Point-in-time
Total consolidated VIEs liabilities	`VariableInterestEntityConsolidatedCarryingAmountLiabilities`	$84.16M	USD	Point-in-time
Total consolidated VIEs liabilities	`VariableInterestEntityConsolidatedCarryingAmountLiabilities`	$149.77M	USD	Point-in-time
Senior notes and other debts payable	`NotesPayable`	$4.69B	USD	Point-in-time
Senior notes and other debts payable	`NotesPayable`	$5.29B	USD	Point-in-time
Total liabilities	`Liabilities`	$7.71B	USD	Point-in-time
Total liabilities	`Liabilities`	$8.42B	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.26B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.24B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.66B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.94B	USD	Point-in-time
Treasury stock, at cost; May 31, 2015 - 349,271 shares of Class A common stock and 1,679,620 shares of Class B common stock; November 30, 2014 - 505,420 shares of Class A common stock and 1,679,620 shares of Class B common stock	`TreasuryStockValue`	$93.44M	USD	Point-in-time
Treasury stock, at cost; May 31, 2015 - 349,271 shares of Class A common stock and 1,679,620 shares of Class B common stock; November 30, 2014 - 505,420 shares of Class A common stock and 1,679,620 shares of Class B common stock	`TreasuryStockValue`	$85.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.83B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.14B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$336.98M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$424.28M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.89B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.25B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.48B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.63B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$12.96B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$13.90B	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`Revenues`	$2.39B	USD	1 Quarter
Total revenues	`Revenues`	$4.04B	USD	2 Qtrs
Total revenues	`Revenues`	$3.18B	USD	2 Qtrs
Total revenues	`Revenues`	$1.82B	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$76.43M	USD	2 Qtrs
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$50.21M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$38.32M	USD	1 Quarter
Corporate general and administrative	`GeneralAndAdministrativeExpense`	$93.86M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$1.63B	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.12B	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.87B	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$3.62B	USD	2 Qtrs
Other interest expense	`InterestExpenseOther`	$7.89M	USD	2 Qtrs
Other interest expense	`InterestExpenseOther`	$10.29M	USD	1 Quarter
Other interest expense	`InterestExpenseOther`	$22.98M	USD	2 Qtrs
Other interest expense	`InterestExpenseOther`	$3.82M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$279.81M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$203.63M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$456.45M	USD	2 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$329.51M	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$81.01M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$154.95M	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$126.92M	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$95.23M	USD	1 Quarter
Net earnings (loss) (including net earnings (loss) attributable to noncontrolling interests)	`ProfitLoss`	$122.62M	USD	1 Quarter
Net earnings (loss) (including net earnings (loss) attributable to noncontrolling interests)	`ProfitLoss`	$202.58M	USD	2 Qtrs
Net earnings (loss) (including net earnings (loss) attributable to noncontrolling interests)	`ProfitLoss`	$184.58M	USD	1 Quarter
Net earnings (loss) (including net earnings (loss) attributable to noncontrolling interests)	`ProfitLoss`	$301.50M	USD	2 Qtrs
Less: Net earnings (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-15.10M	USD	1 Quarter
Less: Net earnings (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$3.52M	USD	2 Qtrs
Less: Net earnings (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-13.25M	USD	2 Qtrs
Less: Net earnings (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.57M	USD	1 Quarter
Net earnings attributable to Lennar	`NetIncomeLoss`	$297.98M	USD	2 Qtrs
Net earnings attributable to Lennar	`NetIncomeLoss`	$137.72M	USD	1 Quarter
Net earnings attributable to Lennar	`NetIncomeLoss`	$183.02M	USD	1 Quarter
Net earnings attributable to Lennar	`NetIncomeLoss`	$215.84M	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$1.06	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$0.89	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.67	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$1.45	USD	2 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	$0.95	USD	2 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	$0.61	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$1.30	USD	2 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	$0.79	USD	1 Quarter
Cash dividends per each Class A and Class B common share	`CommonStockDividendsPerShareDeclared`	$0.04	USD	1 Quarter
Cash dividends per each Class A and Class B common share	`CommonStockDividendsPerShareDeclared`	$0.04	USD	1 Quarter
Cash dividends per each Class A and Class B common share	`CommonStockDividendsPerShareDeclared`	$0.08	USD	2 Qtrs
Cash dividends per each Class A and Class B common share	`CommonStockDividendsPerShareDeclared`	$0.08	USD	2 Qtrs
Comprehensive income (loss), net of tax, attributable to Lennar	`ComprehensiveIncomeNetOfTax`	$297.98M	USD	2 Qtrs
Comprehensive income (loss), net of tax, attributable to Lennar	`ComprehensiveIncomeNetOfTax`	$137.72M	USD	1 Quarter
Comprehensive income (loss), net of tax, attributable to Lennar	`ComprehensiveIncomeNetOfTax`	$215.84M	USD	2 Qtrs
Comprehensive income (loss), net of tax, attributable to Lennar	`ComprehensiveIncomeNetOfTax`	$183.02M	USD	1 Quarter
Comprehensive income (loss), net of tax, attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-13.25M	USD	2 Qtrs
Comprehensive income (loss), net of tax, attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$3.52M	USD	2 Qtrs
Comprehensive income (loss), net of tax, attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-15.10M	USD	1 Quarter
Comprehensive income (loss), net of tax, attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.57M	USD	1 Quarter

Cash Flow Statement 88 line items

Line Item	Tag	Value	Unit	Period
Net earnings (including net earnings attributable to noncontrolling interests)	`ProfitLoss`	$122.62M	USD	1 Quarter
Net earnings (including net earnings attributable to noncontrolling interests)	`ProfitLoss`	$202.58M	USD	2 Qtrs
Net earnings (including net earnings attributable to noncontrolling interests)	`ProfitLoss`	$184.58M	USD	1 Quarter
Net earnings (including net earnings attributable to noncontrolling interests)	`ProfitLoss`	$301.50M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.64M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.91M	USD	2 Qtrs
Amortization of discount/premium on debt, net	`AmortizationOfDebtDiscountPremium`	$10.58M	USD	2 Qtrs
Amortization of discount/premium on debt, net	`AmortizationOfDebtDiscountPremium`	$9.63M	USD	2 Qtrs
Share based compensation expense	`ShareBasedCompensation`	$20.65M	USD	2 Qtrs
Share based compensation expense	`ShareBasedCompensation`	$17.29M	USD	2 Qtrs
Share based compensation expense	`ShareBasedCompensation`	$8.55M	USD	1 Quarter
Share based compensation expense	`ShareBasedCompensation`	$10.40M	USD	1 Quarter
Excess tax benefits from share-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$282.00K	USD	2 Qtrs
Excess tax benefits from share-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$113.00K	USD	2 Qtrs
Deferred income tax (benefit) expense	`DeferredIncomeTaxExpenseBenefit`	$2.41M	USD	2 Qtrs
Deferred income tax (benefit) expense	`DeferredIncomeTaxExpenseBenefit`	$99.68M	USD	2 Qtrs
Gain (Loss) on Disposition of Property Plant Equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.95M	USD	2 Qtrs
Gain (Loss) on Disposition of Property Plant Equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$-23.14M	USD	2 Qtrs
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$13.19M	USD	2 Qtrs
Decrease (increase) in receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-15.29M	USD	2 Qtrs
Decrease (increase) in receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$63.07M	USD	2 Qtrs
Decrease (increase) in inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs	`IncreaseDecreaseInInventories`	$981.10M	USD	2 Qtrs
Decrease (increase) in inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs	`IncreaseDecreaseInInventories`	$1.12B	USD	2 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$30.07M	USD	2 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$24.26M	USD	2 Qtrs
Increase (decrease) in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$29.00M	USD	2 Qtrs
Increase (decrease) in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$66.02M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-994.53M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-721.70M	USD	2 Qtrs
Increase (decrease) in restricted cash	`IncreaseDecreaseInRestrictedCash`	$478.00K	USD	2 Qtrs
Increase (decrease) in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-101.00K	USD	2 Qtrs
Net disposals (additions) of operating properties and equipment	`NetDisposalsAdditionsOfOperatingPropertiesAndEquipment`	$-50.73M	USD	2 Qtrs
Net disposals (additions) of operating properties and equipment	`NetDisposalsAdditionsOfOperatingPropertiesAndEquipment`	$-8.21M	USD	2 Qtrs
Proceeds from the sale of operating properties and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Proceeds from the sale of operating properties and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$73.73M	USD	2 Qtrs
Acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	2 Qtrs
Acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$4.81M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.34M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$187.91M	USD	2 Qtrs
Net borrowings (repayments) of debt	`ProceedsFromRepaymentsOfLinesOfCredit`	$450.00M	USD	2 Qtrs
Net borrowings (repayments) of debt	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$7.72M	USD	2 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$6.51M	USD	2 Qtrs
Redemption of senior notes	`RepaymentsOfSeniorDebt`	$500.00M	USD	2 Qtrs
Redemption of senior notes	`RepaymentsOfSeniorDebt`	-	USD	2 Qtrs
Proceeds from other borrowings	`ProceedsFromOtherDebt`	$26.93M	USD	2 Qtrs
Proceeds from other borrowings	`ProceedsFromOtherDebt`	$69.74M	USD	2 Qtrs
Principal payments on other borrowings	`RepaymentsOfOtherDebt`	$206.90M	USD	2 Qtrs
Principal payments on other borrowings	`RepaymentsOfOtherDebt`	$157.18M	USD	2 Qtrs
Exercise of land option contracts from an unconsolidated land investment venture	`ExerciseOfLandOptionContractsFromUnconsolidatedLandInvestmentVenture`	-	USD	2 Qtrs
Exercise of land option contracts from an unconsolidated land investment venture	`ExerciseOfLandOptionContractsFromUnconsolidatedLandInvestmentVenture`	$1.54M	USD	2 Qtrs
Receipts related to noncontrolling interests	`ProceedsFromMinorityShareholders`	$1.37M	USD	2 Qtrs
Receipts related to noncontrolling interests	`ProceedsFromMinorityShareholders`	$11.93M	USD	2 Qtrs
Payments related to noncontrolling interests	`PaymentsToMinorityShareholders`	$72.74M	USD	2 Qtrs
Payments related to noncontrolling interests	`PaymentsToMinorityShareholders`	$78.94M	USD	2 Qtrs
Excess tax benefits from share-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$113.00K	USD	2 Qtrs
Excess tax benefits from share-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$282.00K	USD	2 Qtrs
Issuances	`ProceedsFromIssuanceOfCommonStock`	$9.41M	USD	2 Qtrs
Issuances	`ProceedsFromIssuanceOfCommonStock`	$13.30M	USD	2 Qtrs
Repurchases	`PaymentsForRepurchaseOfCommonStock`	$972.00K	USD	2 Qtrs
Repurchases	`PaymentsForRepurchaseOfCommonStock`	$566.00K	USD	2 Qtrs
Payments of Ordinary Dividends, Common Stock	`PaymentsOfDividendsCommonStock`	$16.36M	USD	2 Qtrs
Payments of Ordinary Dividends, Common Stock	`PaymentsOfDividendsCommonStock`	$16.42M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$523.52M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$640.21M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-361.66M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.27M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$960.24M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$970.50M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.28B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$920.16M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$970.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$960.24M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$970.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.28B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$920.16M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$970.50M	USD	Point-in-time
Inventories	`Noncashconsolidateddeconsolidatedinventories`	-	USD	2 Qtrs
Inventories	`Noncashconsolidateddeconsolidatedinventories`	$155.02M	USD	2 Qtrs
Operating properties and equipment	`Noncashconsolidateddeconsolidatedotherassetsdisclosure`	$-17.42M	USD	2 Qtrs
Operating properties and equipment	`Noncashconsolidateddeconsolidatedotherassetsdisclosure`	$-18.47M	USD	2 Qtrs
Investments in unconsolidated entities	`Noncashconsolidateddeconsolidatedinvestmentsinunconsolidatedentities`	$2.95M	USD	2 Qtrs
Investments in unconsolidated entities	`Noncashconsolidateddeconsolidatedinvestmentsinunconsolidatedentities`	$-30.65M	USD	2 Qtrs
Other liabilities	`Noncashconsolidateddeconsolidatedotherliabilities`	$1.22M	USD	2 Qtrs
Other liabilities	`Noncashconsolidateddeconsolidatedotherliabilities`	-	USD	2 Qtrs
Noncontrolling interests	`Noncashconsolidateddeconsolidatednoncontrollinginterests`	$13.25M	USD	2 Qtrs
Noncontrolling interests	`Noncashconsolidateddeconsolidatednoncontrollinginterests`	$-105.91M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.