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10-Q Filing

LENNAR CORP /NEW/ CIK: 920760 Q3 2022
Filing Information
Form Type 10-Q
Accession Number 0001628280-22-025896
Period End Date 20220831
Filing Date 20221004
Fiscal Year 2022
Fiscal Period Q3
XBRL Instance len-20220831_htm.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 30 line items
Line Item Tag Value Unit Period
Total assets Assets $33.21B USD Point-in-time
Total assets Assets $35.34B USD Point-in-time
Total assets Assets $33.21B USD Point-in-time
Total liabilities Liabilities $12.21B USD Point-in-time
Total liabilities Liabilities $12.21B USD Point-in-time
Total assets Assets $35.34B USD Point-in-time
Preferred stock PreferredStockValue - USD Point-in-time
Preferred stock PreferredStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $5.39B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $8.81B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $17.65B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $14.69B USD Point-in-time
Treasury stock at cost TreasuryStockValue $89.76M USD Point-in-time
Treasury stock at cost TreasuryStockValue $2.71B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $2.09M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.34M USD Point-in-time
Total stockholders equity StockholdersEquity $22.98B USD Point-in-time
Total stockholders equity StockholdersEquity $20.82B USD Point-in-time
Noncontrolling interests MinorityInterest $179.86M USD Point-in-time
Noncontrolling interests MinorityInterest $150.26M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.00B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $18.10B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $23.13B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $19.70B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $20.78B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.79B USD Point-in-time
Total liabilities Liabilities $12.21B USD Point-in-time
Total liabilities Liabilities $12.21B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $35.34B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $33.21B USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Earnings (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.81B USD 1 Quarter
Earnings (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.26B USD 3 Qtrs
Earnings (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.82B USD 1 Quarter
Earnings (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.24B USD 3 Qtrs
Provision for income taxes IncomeTaxExpenseBenefit $351.58M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $405.14M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $975.35M USD 3 Qtrs
Provision for income taxes IncomeTaxExpenseBenefit $951.28M USD 3 Qtrs
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $3.30B USD 3 Qtrs
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $1.41B USD 1 Quarter
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $3.26B USD 3 Qtrs
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $1.47B USD 1 Quarter
Less: Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.35M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $2.33M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $23.28M USD 3 Qtrs
Less: Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $12.89M USD 3 Qtrs
Net earnings attributable to Lennar NetIncomeLoss $3.24B USD 3 Qtrs
Net earnings attributable to Lennar NetIncomeLoss $3.29B USD 3 Qtrs
Net earnings attributable to Lennar NetIncomeLoss $1.47B USD 1 Quarter
Net earnings attributable to Lennar NetIncomeLoss $1.41B USD 1 Quarter
Net unrealized gain (loss) on securities available-for-sale OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $342.00K USD 1 Quarter
Net unrealized gain (loss) on securities available-for-sale OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $1.15M USD 3 Qtrs
Net unrealized gain (loss) on securities available-for-sale OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $131.00K USD 1 Quarter
Net unrealized gain (loss) on securities available-for-sale OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-495.00K USD 3 Qtrs
Reclassification adjustments for gain included in earnings, net of tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax $-2.29M USD 3 Qtrs
Reclassification adjustments for gain included in earnings, net of tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax - USD 1 Quarter
Reclassification adjustments for gain included in earnings, net of tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax - USD 1 Quarter
Reclassification adjustments for gain included in earnings, net of tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax - USD 3 Qtrs
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.43M USD 3 Qtrs
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $342.00K USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $131.00K USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-495.00K USD 3 Qtrs
Total comprehensive income attributable to Lennar ComprehensiveIncomeNetOfTax $1.41B USD 1 Quarter
Total comprehensive income attributable to Lennar ComprehensiveIncomeNetOfTax $3.24B USD 3 Qtrs
Total comprehensive income attributable to Lennar ComprehensiveIncomeNetOfTax $1.47B USD 1 Quarter
Total comprehensive income attributable to Lennar ComprehensiveIncomeNetOfTax $3.30B USD 3 Qtrs
Total comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $12.89M USD 3 Qtrs
Total comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $23.28M USD 3 Qtrs
Total comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $5.35M USD 1 Quarter
Total comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $2.33M USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $5.04 USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $4.52 USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $10.37 USD 3 Qtrs
Basic earnings per share (in dollars per share) EarningsPerShareBasic $11.19 USD 3 Qtrs
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $11.18 USD 3 Qtrs
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $5.03 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $10.36 USD 3 Qtrs
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $4.52 USD 1 Quarter
Cash Flow Statement 98 line items
Line Item Tag Value Unit Period
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $3.30B USD 3 Qtrs
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $1.41B USD 1 Quarter
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $3.26B USD 3 Qtrs
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $1.47B USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $57.92M USD 3 Qtrs
Depreciation and amortization DepreciationAmortizationAndAccretionNet $65.84M USD 3 Qtrs
Amortization of discount/premium on debt, net AmortizationOfDebtDiscountPremium $-1.31M USD 3 Qtrs
Amortization of discount/premium on debt, net AmortizationOfDebtDiscountPremium $-6.26M USD 3 Qtrs
Equity in earnings (loss) from unconsolidated entities IncomeLossFromEquityMethodInvestments $64.57M USD 3 Qtrs
Equity in earnings (loss) from unconsolidated entities IncomeLossFromEquityMethodInvestments $-34.87M USD 3 Qtrs
Distributions of earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $40.55M USD 3 Qtrs
Distributions of earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $46.38M USD 3 Qtrs
Share-based compensation expense ShareBasedCompensation $154.71M USD 3 Qtrs
Share-based compensation expense ShareBasedCompensation $105.39M USD 3 Qtrs
Deferred income tax (benefit) expense DeferredIncomeTaxesAndTaxCredits $-15.99M USD 3 Qtrs
Deferred income tax (benefit) expense DeferredIncomeTaxesAndTaxCredits $288.26M USD 3 Qtrs
Loans held-for-sale unrealized loss UnrealizedGainLossOnFinancingReceivablesHeldForSale $-26.16M USD 3 Qtrs
Loans held-for-sale unrealized loss UnrealizedGainLossOnFinancingReceivablesHeldForSale $-41.36M USD 3 Qtrs
Lennar Other unrealized (gains) losses from technology investments and other (gain) loss UnrealizedGainLossOnInvestmentsAndOtherGainLoss $-578.67M USD 3 Qtrs
Lennar Other unrealized (gains) losses from technology investments and other (gain) loss UnrealizedGainLossOnInvestmentsAndOtherGainLoss $848.54M USD 3 Qtrs
Gain on sale of other assets and operating properties and equipment GainLossOnSaleOfPropertyPlantEquipment $18.60M USD 3 Qtrs
Gain on sale of other assets and operating properties and equipment GainLossOnSaleOfPropertyPlantEquipment $7.57M USD 3 Qtrs
Gain on sale of Financial Services' portfolio/businesses DisposalGroupNotDiscontinuedOperationGainLossOnDisposal - USD 3 Qtrs
Gain on sale of Financial Services' portfolio/businesses DisposalGroupNotDiscontinuedOperationGainLossOnDisposal $2.53M USD 3 Qtrs
Valuation adjustments and write-offs of option deposits and pre-acquisition costs ValuationAdjustmentsandWriteoffsofOptionDepositsPreacquisitionsCostsandOtherAssets $16.02M USD 3 Qtrs
Valuation adjustments and write-offs of option deposits and pre-acquisition costs ValuationAdjustmentsandWriteoffsofOptionDepositsPreacquisitionsCostsandOtherAssets $27.25M USD 3 Qtrs
(Increase) decrease in receivables IncreaseDecreaseInReceivables $164.38M USD 3 Qtrs
(Increase) decrease in receivables IncreaseDecreaseInReceivables $-131.28M USD 3 Qtrs
Increase in inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs IncreaseDecreaseInInventories $2.25B USD 3 Qtrs
Increase in inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs IncreaseDecreaseInInventories $3.89B USD 3 Qtrs
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $110.76M USD 3 Qtrs
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $154.00M USD 3 Qtrs
Decrease in loans held-for-sale IncreaseDecreaseInLoansHeldForSale $-209.26M USD 3 Qtrs
Decrease in loans held-for-sale IncreaseDecreaseInLoansHeldForSale $-318.97M USD 3 Qtrs
Increase in accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $514.01M USD 3 Qtrs
Increase in accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $180.95M USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $551.45M USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $1.31B USD 3 Qtrs
Net additions of operating properties and equipment PaymentsToAcquirePropertyPlantAndEquipment $39.95M USD 3 Qtrs
Net additions of operating properties and equipment PaymentsToAcquirePropertyPlantAndEquipment $27.53M USD 3 Qtrs
Proceeds from the sale of operating properties and equipment and other assets ProceedsFromSaleOfPropertyPlantAndEquipment $18.25M USD 3 Qtrs
Proceeds from the sale of operating properties and equipment and other assets ProceedsFromSaleOfPropertyPlantAndEquipment $36.88M USD 3 Qtrs
Investments in and contributions to unconsolidated entities PaymentsToAcquireEquityMethodInvestments $354.59M USD 3 Qtrs
Investments in and contributions to unconsolidated entities PaymentsToAcquireEquityMethodInvestments $396.73M USD 3 Qtrs
Distributions of capital from unconsolidated entities ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $292.47M USD 3 Qtrs
Distributions of capital from unconsolidated entities ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $331.80M USD 3 Qtrs
Proceeds from sale of investment in consolidated joint venture ProceedsFromDivestitureOfInterestInJointVenture - USD 3 Qtrs
Proceeds from sale of investment in consolidated joint venture ProceedsFromDivestitureOfInterestInJointVenture $15.95M USD 3 Qtrs
Proceeds from sale of commercial mortgage-backed securities bonds ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale $9.19M USD 3 Qtrs
Proceeds from sale of commercial mortgage-backed securities bonds ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale $11.31M USD 3 Qtrs
Proceeds from sale of Financial Services portfolio/business ProceedsFromDivestitureOfBusinessesNetOfCashDivested - USD 3 Qtrs
Proceeds from sale of Financial Services portfolio/business ProceedsFromDivestitureOfBusinessesNetOfCashDivested $3.33M USD 3 Qtrs
Decrease in Financial Services loans held-for-investment, net PaymentsForProceedsFromLoansAndLeases $-18.86M USD 3 Qtrs
Decrease in Financial Services loans held-for-investment, net PaymentsForProceedsFromLoansAndLeases $-13.25M USD 3 Qtrs
Purchases of investment securities PaymentsToAcquireMarketableSecurities $121.67M USD 3 Qtrs
Purchases of investment securities PaymentsToAcquireMarketableSecurities $93.77M USD 3 Qtrs
Proceeds from maturities/sales of investment securities ProceedsFromSaleAndMaturityOfMarketableSecurities $11.86M USD 3 Qtrs
Proceeds from maturities/sales of investment securities ProceedsFromSaleAndMaturityOfMarketableSecurities $8.47M USD 3 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-131.47M USD 3 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-131.17M USD 3 Qtrs
Net repayments under warehouse facilities ProceedsFromRepaymentsOfLinesOfCredit $-357.47M USD 3 Qtrs
Net repayments under warehouse facilities ProceedsFromRepaymentsOfLinesOfCredit $-238.11M USD 3 Qtrs
Redemption of senior notes RepaymentsOfSeniorDebt $300.00M USD 3 Qtrs
Redemption of senior notes RepaymentsOfSeniorDebt $575.00M USD 3 Qtrs
Principal payments on notes payable and other borrowings RepaymentsofMortgageandOtherDebts $165.40M USD 3 Qtrs
Principal payments on notes payable and other borrowings RepaymentsofMortgageandOtherDebts $35.54M USD 3 Qtrs
Proceeds from other borrowings ProceedsFromOtherDebt $13.97M USD 3 Qtrs
Proceeds from other borrowings ProceedsFromOtherDebt - USD 3 Qtrs
Proceeds from liabilities related to consolidated inventory not owned ProceedsfromOtherLiabilities $845.41M USD 3 Qtrs
Proceeds from liabilities related to consolidated inventory not owned ProceedsfromOtherLiabilities $441.18M USD 3 Qtrs
Payments related to consolidated inventory not owned PaymentsForTurnOfInventoryNotOwnedFinancingActivities $517.65M USD 3 Qtrs
Payments related to consolidated inventory not owned PaymentsForTurnOfInventoryNotOwnedFinancingActivities $238.27M USD 3 Qtrs
Payments related to other liabilities, net ProceedsFromPaymentsForOtherFinancingActivities $-7.14M USD 3 Qtrs
Payments related to other liabilities, net ProceedsFromPaymentsForOtherFinancingActivities - USD 3 Qtrs
Receipts related to noncontrolling interests ProceedsFromMinorityShareholders $18.57M USD 3 Qtrs
Receipts related to noncontrolling interests ProceedsFromMinorityShareholders $30.06M USD 3 Qtrs
Payments related to noncontrolling interests PaymentsToMinorityShareholders $20.86M USD 3 Qtrs
Payments related to noncontrolling interests PaymentsToMinorityShareholders $85.10M USD 3 Qtrs
Repurchases PaymentsForRepurchaseOfCommonStock $918.68M USD 3 Qtrs
Repurchases PaymentsForRepurchaseOfCommonStock $452.51M USD 3 Qtrs
Dividends PaymentsOfDividendsCommonStock $329.72M USD 3 Qtrs
Dividends PaymentsOfDividendsCommonStock $233.99M USD 3 Qtrs
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-1.82B USD 3 Qtrs
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-1.30B USD 3 Qtrs
Net decrease in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-120.74M USD 3 Qtrs
Net decrease in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-1.40B USD 3 Qtrs
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.81B USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.55B USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.93B USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.96B USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.81B USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.55B USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.93B USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.96B USD Point-in-time
Total cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.81B USD Point-in-time
Total cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.55B USD Point-in-time
Total cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.93B USD Point-in-time
Total cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.96B USD Point-in-time

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

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