10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001628280-23-010604 |
| Period End Date | 20230228 |
| Filing Date | 20230404 |
| Fiscal Year | 2023 |
| Fiscal Period | Q1 |
| XBRL Instance | len-20230228_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
28 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Total assets |
Assets
|
$36.57B | USD | Point-in-time |
| Total assets |
Assets
|
$37.98B | USD | Point-in-time |
| Total assets |
Assets
|
$36.57B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$13.74B | USD | Point-in-time |
| Total assets |
Assets
|
$37.98B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$12.02B | USD | Point-in-time |
| Preferred stock |
PreferredStockValue
|
- | USD | Point-in-time |
| Preferred stock |
PreferredStockValue
|
- | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$5.42B | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$5.50B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$18.86B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$19.35B | USD | Point-in-time |
| Treasury stock at cost |
TreasuryStockValue
|
$210.39M | USD | Point-in-time |
| Treasury stock at cost |
TreasuryStockValue
|
$468.35M | USD | Point-in-time |
| Accumulated other comprehensive income |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$2.41M | USD | Point-in-time |
| Accumulated other comprehensive income |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$3.26M | USD | Point-in-time |
| Total stockholders equity |
StockholdersEquity
|
$24.42B | USD | Point-in-time |
| Total stockholders equity |
StockholdersEquity
|
$24.10B | USD | Point-in-time |
| Noncontrolling interests |
MinorityInterest
|
$137.03M | USD | Point-in-time |
| Noncontrolling interests |
MinorityInterest
|
$139.87M | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$24.24B | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$24.56B | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$20.85B | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$21.00B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$13.74B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$12.02B | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$37.98B | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$36.57B | USD | Point-in-time |
Income Statement
24 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Earnings (loss) before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$784.45M | USD | 1 Quarter |
| Earnings (loss) before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$676.74M | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$167.42M | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$185.15M | USD | 1 Quarter |
| Net earnings (including net earnings attributable to noncontrolling interests) |
ProfitLoss
|
$509.31M | USD | 1 Quarter |
| Net earnings (including net earnings attributable to noncontrolling interests) |
ProfitLoss
|
$599.31M | USD | 1 Quarter |
| Less: Net earnings attributable to noncontrolling interests |
NetIncomeLossAttributableToNoncontrollingInterest
|
$2.77M | USD | 1 Quarter |
| Less: Net earnings attributable to noncontrolling interests |
NetIncomeLossAttributableToNoncontrollingInterest
|
$5.73M | USD | 1 Quarter |
| Net earnings attributable to Lennar |
NetIncomeLoss
|
$503.58M | USD | 1 Quarter |
| Net earnings attributable to Lennar |
NetIncomeLoss
|
$596.53M | USD | 1 Quarter |
| Net unrealized gain on securities available-for-sale |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
$851.00K | USD | 1 Quarter |
| Net unrealized gain on securities available-for-sale |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
$742.00K | 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
|
$-2.29M | USD | 1 Quarter |
| Total other comprehensive income, net of tax |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
$851.00K | USD | 1 Quarter |
| Total other comprehensive income, net of tax |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
$3.03M | USD | 1 Quarter |
| Total comprehensive income attributable to Lennar |
ComprehensiveIncomeNetOfTax
|
$597.38M | USD | 1 Quarter |
| Total comprehensive income attributable to Lennar |
ComprehensiveIncomeNetOfTax
|
$506.61M | USD | 1 Quarter |
| Total comprehensive income attributable to noncontrolling interests |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$2.77M | USD | 1 Quarter |
| Total comprehensive income attributable to noncontrolling interests |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$5.73M | USD | 1 Quarter |
| Basic earnings per share (in dollars per share) |
EarningsPerShareBasic
|
$1.70 | USD | 1 Quarter |
| Basic earnings per share (in dollars per share) |
EarningsPerShareBasic
|
$2.06 | USD | 1 Quarter |
| Diluted earnings per share (in dollars per share) |
EarningsPerShareDiluted
|
$2.06 | USD | 1 Quarter |
| Diluted earnings per share (in dollars per share) |
EarningsPerShareDiluted
|
$1.69 | USD | 1 Quarter |
Cash Flow Statement
82 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net earnings (including net earnings attributable to noncontrolling interests) |
ProfitLoss
|
$509.31M | USD | 1 Quarter |
| Net earnings (including net earnings attributable to noncontrolling interests) |
ProfitLoss
|
$599.31M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAmortizationAndAccretionNet
|
$20.09M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAmortizationAndAccretionNet
|
$20.30M | USD | 1 Quarter |
| Amortization of discount/premium on debt, net |
AmortizationOfDebtDiscountPremium
|
$-838.00K | USD | 1 Quarter |
| Amortization of discount/premium on debt, net |
AmortizationOfDebtDiscountPremium
|
$-490.00K | USD | 1 Quarter |
| Equity in loss from unconsolidated entities |
IncomeLossFromEquityMethodInvestments
|
$-9.75M | USD | 1 Quarter |
| Equity in loss from unconsolidated entities |
IncomeLossFromEquityMethodInvestments
|
$-31.19M | USD | 1 Quarter |
| Distributions of earnings from unconsolidated entities |
EquityMethodInvestmentDividendsOrDistributions
|
$4.82M | USD | 1 Quarter |
| Distributions of earnings from unconsolidated entities |
EquityMethodInvestmentDividendsOrDistributions
|
$4.62M | USD | 1 Quarter |
| Share-based compensation expense |
ShareBasedCompensation
|
$86.56M | USD | 1 Quarter |
| Share-based compensation expense |
ShareBasedCompensation
|
$81.46M | USD | 1 Quarter |
| Deferred income tax benefit |
DeferredIncomeTaxesAndTaxCredits
|
$-81.94M | USD | 1 Quarter |
| Deferred income tax benefit |
DeferredIncomeTaxesAndTaxCredits
|
$-54.03M | USD | 1 Quarter |
| Loans held-for-sale unrealized loss |
UnrealizedGainLossOnFinancingReceivablesHeldForSale
|
$-31.46M | USD | 1 Quarter |
| Loans held-for-sale unrealized loss |
UnrealizedGainLossOnFinancingReceivablesHeldForSale
|
$-27.39M | USD | 1 Quarter |
| Lennar Other unrealized losses from technology investments |
UnrealizedGainLossOnInvestmentsAndOtherGainLoss
|
$-395.17M | USD | 1 Quarter |
| Lennar Other unrealized losses from technology investments |
UnrealizedGainLossOnInvestmentsAndOtherGainLoss
|
$-23.95M | USD | 1 Quarter |
| Valuation adjustments and write-offs of option deposits, pre-acquisition costs and other assets |
ValuationAdjustmentsandWriteoffsofOptionDepositsPreacquisitionsCostsandOtherAssets
|
$11.51M | USD | 1 Quarter |
| Valuation adjustments and write-offs of option deposits, pre-acquisition costs and other assets |
ValuationAdjustmentsandWriteoffsofOptionDepositsPreacquisitionsCostsandOtherAssets
|
$25.85M | USD | 1 Quarter |
| Decrease in receivables |
IncreaseDecreaseInReceivables
|
$-380.50M | USD | 1 Quarter |
| Decrease in receivables |
IncreaseDecreaseInReceivables
|
$-602.76M | USD | 1 Quarter |
| Increase in inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs |
IncreaseDecreaseInInventories
|
$1.91B | USD | 1 Quarter |
| Increase in inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs |
IncreaseDecreaseInInventories
|
$177.71M | USD | 1 Quarter |
| Increase in other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$8.14M | USD | 1 Quarter |
| Increase in other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$49.97M | USD | 1 Quarter |
| Decrease in loans held-for-sale |
IncreaseDecreaseInLoansHeldForSale
|
$-511.81M | USD | 1 Quarter |
| Decrease in loans held-for-sale |
IncreaseDecreaseInLoansHeldForSale
|
$-409.44M | USD | 1 Quarter |
| (Decrease) increase in accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$-690.98M | USD | 1 Quarter |
| (Decrease) increase in accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$96.45M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-72.23M | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$978.21M | USD | 1 Quarter |
| Net additions of operating properties and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$5.42M | USD | 1 Quarter |
| Net additions of operating properties and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$5.78M | USD | 1 Quarter |
| Investments in and contributions to unconsolidated entities |
PaymentsToAcquireEquityMethodInvestments
|
$57.28M | USD | 1 Quarter |
| Investments in and contributions to unconsolidated entities |
PaymentsToAcquireEquityMethodInvestments
|
$138.91M | USD | 1 Quarter |
| Distributions of capital from unconsolidated entities |
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
$173.56M | USD | 1 Quarter |
| Distributions of capital from unconsolidated entities |
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
$23.99M | USD | 1 Quarter |
| Proceeds from sale of commercial mortgage-backed securities bonds |
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
|
$9.19M | USD | 1 Quarter |
| Proceeds from sale of commercial mortgage-backed securities bonds |
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
|
- | USD | 1 Quarter |
| Decrease in Financial Services loans held-for-investment, net |
PaymentsForProceedsFromLoansAndLeases
|
$-11.43M | USD | 1 Quarter |
| Decrease in Financial Services loans held-for-investment, net |
PaymentsForProceedsFromLoansAndLeases
|
$-418.00K | USD | 1 Quarter |
| Purchases of investment securities |
PaymentsToAcquireMarketableSecurities
|
$71.27M | USD | 1 Quarter |
| Purchases of investment securities |
PaymentsToAcquireMarketableSecurities
|
- | USD | 1 Quarter |
| Proceeds from maturities/sales of investment securities |
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
$1.78M | USD | 1 Quarter |
| Proceeds from maturities/sales of investment securities |
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
$1.94M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-36.35M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-19.99M | USD | 1 Quarter |
| Net repayments under warehouse facilities |
ProceedsFromRepaymentsOfLinesOfCredit
|
$-528.67M | USD | 1 Quarter |
| Net repayments under warehouse facilities |
ProceedsFromRepaymentsOfLinesOfCredit
|
$-963.46M | USD | 1 Quarter |
| Principal payments on notes payable and other borrowings |
RepaymentsofMortgageandOtherDebts
|
$18.78M | USD | 1 Quarter |
| Principal payments on notes payable and other borrowings |
RepaymentsofMortgageandOtherDebts
|
$26.62M | USD | 1 Quarter |
| Proceeds from liabilities related to consolidated inventory not owned |
ProceedsfromOtherLiabilities
|
$199.48M | USD | 1 Quarter |
| Proceeds from liabilities related to consolidated inventory not owned |
ProceedsfromOtherLiabilities
|
$70.37M | USD | 1 Quarter |
| Payments related to consolidated inventory not owned |
PaymentsForTurnOfInventoryNotOwnedFinancingActivities
|
$177.89M | USD | 1 Quarter |
| Payments related to consolidated inventory not owned |
PaymentsForTurnOfInventoryNotOwnedFinancingActivities
|
$166.10M | USD | 1 Quarter |
| Payments related to other liabilities, net |
ProceedsFromPaymentsForOtherFinancingActivities
|
$-1.26M | USD | 1 Quarter |
| Payments related to other liabilities, net |
ProceedsFromPaymentsForOtherFinancingActivities
|
- | USD | 1 Quarter |
| Receipts related to noncontrolling interests |
ProceedsFromMinorityShareholders
|
$6.98M | USD | 1 Quarter |
| Receipts related to noncontrolling interests |
ProceedsFromMinorityShareholders
|
$2.50M | USD | 1 Quarter |
| Payments related to noncontrolling interests |
PaymentsToMinorityShareholders
|
$21.26M | USD | 1 Quarter |
| Payments related to noncontrolling interests |
PaymentsToMinorityShareholders
|
$59.39M | USD | 1 Quarter |
| Repurchases |
PaymentsForRepurchaseOfCommonStock
|
$581.30M | USD | 1 Quarter |
| Repurchases |
PaymentsForRepurchaseOfCommonStock
|
$257.96M | USD | 1 Quarter |
| Dividends |
PaymentsOfDividendsCommonStock
|
$110.12M | USD | 1 Quarter |
| Dividends |
PaymentsOfDividendsCommonStock
|
$107.89M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-1.26B | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-1.48B | USD | 1 Quarter |
| Net decrease in cash and cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-1.35B | USD | 1 Quarter |
| Net decrease in cash and cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-541.61M | USD | 1 Quarter |
| 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 beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$4.82B | USD | Point-in-time |
| Cash and cash equivalents and restricted cash at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.61B | USD | Point-in-time |
| Cash and cash equivalents and restricted cash at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$4.27B | USD | Point-in-time |
| Cash and cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$2.96B | USD | Point-in-time |
| Cash and cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$4.82B | USD | Point-in-time |
| Cash and cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.61B | USD | Point-in-time |
| Cash and cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$4.27B | USD | Point-in-time |
| Total cash and cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$2.96B | USD | Point-in-time |
| Total cash and cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$4.82B | USD | Point-in-time |
| Total cash and cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.61B | USD | Point-in-time |
| Total cash and cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$4.27B | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.