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10-Q Filing

LENNAR CORP /NEW/ CIK: 920760 Q3 2023
Filing Information
Form Type 10-Q
Accession Number 0001628280-23-033300
Period End Date 20230831
Filing Date 20230929
Fiscal Year 2023
Fiscal Period Q3
XBRL Instance len-20230831_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 $37.44B USD Point-in-time
Total assets Assets $37.98B USD Point-in-time
Total liabilities Liabilities $11.65B USD Point-in-time
Total assets Assets $37.44B USD Point-in-time
Total liabilities Liabilities $13.74B USD Point-in-time
Total assets Assets $37.98B USD Point-in-time
Preferred stock PreferredStockValue - USD Point-in-time
Preferred stock PreferredStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $5.56B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $5.42B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $21.11B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $18.86B USD Point-in-time
Treasury stock at cost TreasuryStockValue $210.39M USD Point-in-time
Treasury stock at cost TreasuryStockValue $1.05B USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $4.04M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $2.41M USD Point-in-time
Total stockholders equity StockholdersEquity $24.10B USD Point-in-time
Total stockholders equity StockholdersEquity $25.66B USD Point-in-time
Noncontrolling interests MinorityInterest $139.87M USD Point-in-time
Noncontrolling interests MinorityInterest $131.92M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $25.79B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $24.24B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $25.16B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.79B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $23.13B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $21.00B USD Point-in-time
Total liabilities Liabilities $11.65B USD Point-in-time
Total liabilities Liabilities $13.74B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $37.44B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $37.98B USD Point-in-time
Income Statement 72 line items
Line Item Tag Value Unit Period
Revenues Revenues $23.50B USD 3 Qtrs
Revenues Revenues $23.27B USD 3 Qtrs
Revenues Revenues $8.73B USD 1 Quarter
Revenues Revenues $8.93B USD 1 Quarter
Corporate general and administrative GeneralAndAdministrativeExpense $365.00M USD 3 Qtrs
Corporate general and administrative GeneralAndAdministrativeExpense $114.14M USD 1 Quarter
Corporate general and administrative GeneralAndAdministrativeExpense $334.43M USD 3 Qtrs
Corporate general and administrative GeneralAndAdministrativeExpense $115.56M USD 1 Quarter
Charitable foundation contribution ContributionExpense $49.29M USD 3 Qtrs
Charitable foundation contribution ContributionExpense $18.56M USD 1 Quarter
Charitable foundation contribution ContributionExpense $17.25M USD 1 Quarter
Charitable foundation contribution ContributionExpense $46.34M USD 3 Qtrs
Total costs and expenses CostsAndExpenses $19.79B USD 3 Qtrs
Total costs and expenses CostsAndExpenses $7.26B USD 1 Quarter
Total costs and expenses CostsAndExpenses $6.99B USD 1 Quarter
Total costs and expenses CostsAndExpenses $18.62B USD 3 Qtrs
Equity in loss from unconsolidated entities IncomeLossFromEquityMethodInvestmentsAndOtherNonoperatingIncomeExpense $-34.87M USD 3 Qtrs
Equity in loss from unconsolidated entities IncomeLossFromEquityMethodInvestmentsAndOtherNonoperatingIncomeExpense $-104.93M USD 3 Qtrs
Equity in loss from unconsolidated entities IncomeLossFromEquityMethodInvestmentsAndOtherNonoperatingIncomeExpense $-23.99M USD 1 Quarter
Equity in loss from unconsolidated entities IncomeLossFromEquityMethodInvestmentsAndOtherNonoperatingIncomeExpense $-13.31M USD 1 Quarter
Other income (expense), net and other gains (losses) NonoperatingIncomeExpense $-19.30M USD 1 Quarter
Other income (expense), net and other gains (losses) NonoperatingIncomeExpense $44.15M USD 1 Quarter
Other income (expense), net and other gains (losses) NonoperatingIncomeExpense $57.51M USD 3 Qtrs
Other income (expense), net and other gains (losses) NonoperatingIncomeExpense $-25.56M USD 3 Qtrs
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $3.42B USD 3 Qtrs
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.82B USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.26B USD 3 Qtrs
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.48B USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $824.23M USD 3 Qtrs
Provision for income taxes IncomeTaxExpenseBenefit $358.21M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $951.28M USD 3 Qtrs
Provision for income taxes IncomeTaxExpenseBenefit $351.58M USD 1 Quarter
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $1.12B USD 1 Quarter
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $2.59B 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 $1.47B USD 1 Quarter
Less: Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.35M USD 1 Quarter
Less: Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $12.89M USD 3 Qtrs
Less: Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $16.78M USD 3 Qtrs
Less: Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $7.96M USD 1 Quarter
Net earnings attributable to Lennar NetIncomeLoss $1.47B USD 1 Quarter
Net earnings attributable to Lennar NetIncomeLoss $2.58B USD 3 Qtrs
Net earnings attributable to Lennar NetIncomeLoss $3.29B USD 3 Qtrs
Net earnings attributable to Lennar NetIncomeLoss $1.11B USD 1 Quarter
Net unrealized gain on securities available-for-sale OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $1.15M USD 3 Qtrs
Net unrealized gain on securities available-for-sale OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $208.00K USD 1 Quarter
Net unrealized gain on securities available-for-sale OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $342.00K USD 1 Quarter
Net unrealized gain on securities available-for-sale OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $1.63M 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 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 $-2.29M USD 3 Qtrs
Total other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $208.00K USD 1 Quarter
Total other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.43M USD 3 Qtrs
Total other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $1.63M USD 3 Qtrs
Total other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $342.00K USD 1 Quarter
Total comprehensive income attributable to Lennar ComprehensiveIncomeNetOfTax $1.11B USD 1 Quarter
Total comprehensive income attributable to Lennar ComprehensiveIncomeNetOfTax $1.47B USD 1 Quarter
Total comprehensive income attributable to Lennar ComprehensiveIncomeNetOfTax $2.58B USD 3 Qtrs
Total comprehensive income attributable to Lennar ComprehensiveIncomeNetOfTax $3.30B USD 3 Qtrs
Total comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $7.96M USD 1 Quarter
Total comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $5.35M USD 1 Quarter
Total comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $16.78M USD 3 Qtrs
Total comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $12.89M USD 3 Qtrs
Basic earnings per share (in dollars per share) EarningsPerShareBasic $5.04 USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $8.94 USD 3 Qtrs
Basic earnings per share (in dollars per share) EarningsPerShareBasic $3.87 USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $11.19 USD 3 Qtrs
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $3.87 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $8.94 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
Cash Flow Statement 92 line items
Line Item Tag Value Unit Period
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $1.12B USD 1 Quarter
Net earnings (including net earnings attributable to noncontrolling interests) ProfitLoss $2.59B 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 $1.47B USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $81.15M USD 3 Qtrs
Depreciation and amortization DepreciationAmortizationAndAccretionNet $57.92M USD 3 Qtrs
Amortization of discount/premium on debt, net AmortizationOfDebtDiscountPremium $-1.31M USD 3 Qtrs
Amortization of discount/premium on debt, net AmortizationOfDebtDiscountPremium $-2.19M USD 3 Qtrs
Equity in loss from unconsolidated entities IncomeLossFromEquityMethodInvestments $-34.87M USD 3 Qtrs
Equity in loss from unconsolidated entities IncomeLossFromEquityMethodInvestments $-104.93M USD 3 Qtrs
Distributions of earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $46.38M USD 3 Qtrs
Distributions of earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $33.71M USD 3 Qtrs
Share-based compensation expense ShareBasedCompensation $139.62M USD 3 Qtrs
Share-based compensation expense ShareBasedCompensation $154.71M USD 3 Qtrs
Deferred income tax benefit DeferredIncomeTaxesAndTaxCredits $-102.32M USD 3 Qtrs
Deferred income tax benefit DeferredIncomeTaxesAndTaxCredits $-15.99M USD 3 Qtrs
Gain on redemption/repurchases of senior notes GainLossOnRepurchaseOfDebtInstrument - USD 3 Qtrs
Gain on redemption/repurchases of senior notes GainLossOnRepurchaseOfDebtInstrument $6.88M USD 3 Qtrs
Loans held-for-sale unrealized loss UnrealizedGainLossOnFinancingReceivablesHeldForSale $-33.36M USD 3 Qtrs
Loans held-for-sale unrealized loss UnrealizedGainLossOnFinancingReceivablesHeldForSale $-41.36M USD 3 Qtrs
Lennar Other unrealized losses from technology investments and other (gains) losses UnrealizedGainLossOnInvestmentsAndOtherGainLoss $-14.13M USD 3 Qtrs
Lennar Other unrealized losses from technology investments and other (gains) losses UnrealizedGainLossOnInvestmentsAndOtherGainLoss $-578.67M USD 3 Qtrs
Gain on sale of other assets GainLossOnSaleOfPropertyPlantEquipment $7.01M USD 3 Qtrs
Gain on sale of other assets GainLossOnSaleOfPropertyPlantEquipment $7.57M USD 3 Qtrs
Valuation adjustments and write-offs of option deposits, pre-acquisition costs and other assets ValuationAdjustmentsandWriteoffsofOptionDepositsPreacquisitionsCostsandOtherAssets $96.45M USD 3 Qtrs
Valuation adjustments and write-offs of option deposits, pre-acquisition costs and other assets ValuationAdjustmentsandWriteoffsofOptionDepositsPreacquisitionsCostsandOtherAssets $27.25M USD 3 Qtrs
(Increase) decrease in receivables IncreaseDecreaseInReceivables $-167.57M USD 3 Qtrs
(Increase) decrease in receivables IncreaseDecreaseInReceivables $164.38M 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 inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs IncreaseDecreaseInInventories $7.57M USD 3 Qtrs
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $110.76M USD 3 Qtrs
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $100.84M USD 3 Qtrs
Decrease in loans held-for-sale IncreaseDecreaseInLoansHeldForSale $-434.33M USD 3 Qtrs
Decrease in loans held-for-sale IncreaseDecreaseInLoansHeldForSale $-318.97M USD 3 Qtrs
(Decrease) increase in accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $180.95M USD 3 Qtrs
(Decrease) increase in accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-881.89M USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $551.45M USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $2.59B USD 3 Qtrs
Net additions of operating properties and equipment PaymentsToAcquirePropertyPlantAndEquipment $27.53M USD 3 Qtrs
Net additions of operating properties and equipment PaymentsToAcquirePropertyPlantAndEquipment $53.61M USD 3 Qtrs
Proceeds from the sale of other assets ProceedsFromSaleOfPropertyPlantAndEquipment $13.21M USD 3 Qtrs
Proceeds from the sale of other assets ProceedsFromSaleOfPropertyPlantAndEquipment $18.25M USD 3 Qtrs
Investments in and contributions to unconsolidated entities PaymentsToAcquireEquityMethodInvestments $396.73M USD 3 Qtrs
Investments in and contributions to unconsolidated entities PaymentsToAcquireEquityMethodInvestments $152.53M USD 3 Qtrs
Distributions of capital from unconsolidated entities ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $331.80M USD 3 Qtrs
Distributions of capital from unconsolidated entities ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $69.96M 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 - USD 3 Qtrs
Decrease in Financial Services loans held-for-investment PaymentsForProceedsFromLoansAndLeases $-18.86M USD 3 Qtrs
Decrease in Financial Services loans held-for-investment PaymentsForProceedsFromLoansAndLeases $-12.22M USD 3 Qtrs
Purchases of investment securities PaymentsToAcquireMarketableSecurities $8.00M USD 3 Qtrs
Purchases of investment securities PaymentsToAcquireMarketableSecurities $93.77M USD 3 Qtrs
Proceeds from maturities/sales of investment securities ProceedsFromSaleAndMaturityOfMarketableSecurities $3.78M 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 $-114.97M USD 3 Qtrs
Net repayments under warehouse facilities ProceedsFromRepaymentsOfLinesOfCredit $-238.11M USD 3 Qtrs
Net repayments under warehouse facilities ProceedsFromRepaymentsOfLinesOfCredit $-980.93M USD 3 Qtrs
Redemption/repurchases of senior notes RepaymentsOfSeniorDebt $633.06M USD 3 Qtrs
Redemption/repurchases of senior notes RepaymentsOfSeniorDebt $575.00M USD 3 Qtrs
Principal payments on notes payable and other borrowings RepaymentsofMortgageandOtherDebts $35.54M USD 3 Qtrs
Principal payments on notes payable and other borrowings RepaymentsofMortgageandOtherDebts $89.04M USD 3 Qtrs
Proceeds from liabilities related to consolidated inventory not owned ProceedsfromOtherLiabilities $341.29M USD 3 Qtrs
Proceeds from liabilities related to consolidated inventory not owned ProceedsfromOtherLiabilities $845.41M USD 3 Qtrs
Payments related to consolidated inventory not owned PaymentsForTurnOfInventoryNotOwnedFinancingActivities $517.65M USD 3 Qtrs
Payments related to consolidated inventory not owned PaymentsForTurnOfInventoryNotOwnedFinancingActivities $597.48M USD 3 Qtrs
Payments related to other liabilities, net ProceedsFromPaymentsForOtherFinancingActivities - USD 3 Qtrs
Payments related to other liabilities, net ProceedsFromPaymentsForOtherFinancingActivities $-4.02M USD 3 Qtrs
Receipts related to noncontrolling interests ProceedsFromMinorityShareholders $6.31M USD 3 Qtrs
Receipts related to noncontrolling interests ProceedsFromMinorityShareholders $30.06M USD 3 Qtrs
Payments related to noncontrolling interests PaymentsToMinorityShareholders $85.10M USD 3 Qtrs
Payments related to noncontrolling interests PaymentsToMinorityShareholders $43.42M USD 3 Qtrs
Repurchases PaymentsForRepurchaseOfCommonStock $918.68M USD 3 Qtrs
Repurchases PaymentsForRepurchaseOfCommonStock $841.61M USD 3 Qtrs
Dividends PaymentsOfDividendsCommonStock $329.72M USD 3 Qtrs
Dividends PaymentsOfDividendsCommonStock $325.36M USD 3 Qtrs
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-1.82B USD 3 Qtrs
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-3.17B USD 3 Qtrs
Net decrease in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-1.40B USD 3 Qtrs
Net decrease in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-691.74M USD 3 Qtrs
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 $2.96B USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.12B 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 end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.82B 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 $4.12B USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.55B 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 $2.96B USD Point-in-time
Total cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.12B USD Point-in-time
Total cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.55B USD Point-in-time

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

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