$LEN
LENNAR CORP /NEW/

2012 Q2 Form 10-Q Financial Statement

#000144530512002152 Filed on July 10, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $930.2M $764.5M
YoY Change 21.67% -6.14%
Cost Of Revenue $832.7M $719.9M
YoY Change 15.67% -2.33%
Gross Profit $97.50M $44.60M
YoY Change 118.61% -42.38%
Gross Profit Margin 10.48% 5.83%
Selling, General & Admin $29.20M $20.60M
YoY Change 41.75% -7.21%
% of Gross Profit 29.95% 46.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.900M $3.900M
YoY Change 25.64% 11.43%
% of Gross Profit 5.03% 8.74%
Operating Expenses $17.80M -$4.200M
YoY Change -523.81% -118.75%
Operating Profit $81.27M $46.40M
YoY Change 75.16% -15.64%
Interest Expense -$27.60M -$23.00M
YoY Change 20.0% 18.56%
% of Operating Profit -33.96% -49.57%
Other Income/Expense, Net
YoY Change
Pretax Income $52.10M $25.80M
YoY Change 101.95% -27.53%
Income Tax -$402.3M $953.0K
% Of Pretax Income -772.16% 3.69%
Net Earnings $452.7M $13.79M
YoY Change 3184.03% -65.28%
Net Earnings / Revenue 48.67% 1.8%
Basic Earnings Per Share $2.39 $0.07
Diluted Earnings Per Share $2.06 $0.07
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 218.0M shares 195.3M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $760.0M $1.015B
YoY Change -25.12% -11.82%
Cash & Equivalents $829.4M $1.131B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $4.799B $4.302B
Prepaid Expenses
Receivables $45.00M $67.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.604B $5.384B
YoY Change 4.09% -0.06%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $717.0M $769.0M
YoY Change -6.76% 13.93%
Other Assets $9.000M $9.000M
YoY Change 0.0% -94.41%
Total Long-Term Assets $3.747B $3.315B
YoY Change 13.04% 15.83%
TOTAL ASSETS
Total Short-Term Assets $5.604B $5.384B
Total Long-Term Assets $3.747B $3.315B
Total Assets $9.351B $8.699B
YoY Change 7.5% 5.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $155.0M $168.0M
YoY Change -7.74% -3.45%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $155.0M $168.0M
YoY Change -7.74% -3.45%
LONG-TERM LIABILITIES
Long-Term Debt $4.328B $4.046B
YoY Change 6.97% 14.98%
Other Long-Term Liabilities $1.089B $1.225B
YoY Change -11.1% -19.83%
Total Long-Term Liabilities $5.417B $5.271B
YoY Change 2.77% 4.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $155.0M $168.0M
Total Long-Term Liabilities $5.417B $5.271B
Total Liabilities $5.571B $6.047B
YoY Change -7.87% 4.71%
SHAREHOLDERS EQUITY
Retained Earnings $1.409B
YoY Change
Common Stock $2.364B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $615.7M
YoY Change
Treasury Stock Shares
Shareholders Equity $3.177B $2.652B
YoY Change
Total Liabilities & Shareholders Equity $9.351B $8.699B
YoY Change 7.5% 5.46%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $452.7M $13.79M
YoY Change 3184.03% -65.28%
Depreciation, Depletion And Amortization $4.900M $3.900M
YoY Change 25.64% 11.43%
Cash From Operating Activities -$81.40M -$5.100M
YoY Change 1496.08% -102.75%
INVESTING ACTIVITIES
Capital Expenditures -$1.300M
YoY Change -230.0%
Acquisitions
YoY Change
Other Investing Activities $21.50M -$92.20M
YoY Change -123.32% 358.71%
Cash From Investing Activities $21.50M -$93.50M
YoY Change -122.99% 389.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -33.60M 23.40M
YoY Change -243.59% -86.82%
NET CHANGE
Cash From Operating Activities -81.40M -5.100M
Cash From Investing Activities 21.50M -93.50M
Cash From Financing Activities -33.60M 23.40M
Net Change In Cash -93.50M -75.20M
YoY Change 24.34% -121.87%
FREE CASH FLOW
Cash From Operating Activities -$81.40M -$5.100M
Capital Expenditures -$1.300M
Free Cash Flow -$3.800M
YoY Change -102.06%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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len Provision For Loan Losses
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len Provision For Loan Losses
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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CY2012Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Costs And Expenses
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us-gaap Depreciation Depletion And Amortization
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">New Accounting Pronouncements</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2010, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) 2010-06, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Improving Disclosures about Fair Value Measurements</font><font style="font-family:inherit;font-size:10pt;">, (&#8220;ASU 2010-06&#8221;), which requires additional disclosures about transfers between Levels 1 and 2 of the fair value hierarchy and disclosures about purchases, sales, issuances and settlements in the rollforward of activity in Level 3 fair value measurements. 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The adoption of ASU 2011-04 did not have a material effect on the Company&#8217;s condensed consolidated financial statements, but did require additional disclosures.</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2011, the FASB issued ASU 2011-05, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Presentation of Comprehensive Income</font><font style="font-family:inherit;font-size:10pt;">, (&#8220;ASU 2011-05&#8221;). ASU 2011-05 requires the presentation of comprehensive income in either (1)&#160;a continuous statement of comprehensive income or (2)&#160;two separate but consecutive statements. ASU 2011-05 will be effective for the Company&#8217;s quarter ending February 28, 2013. The adoption of ASU 2011-05 is not expected to have a material effect on the Company&#8217;s condensed consolidated financial statements, but will require a change in the presentation of the Company&#8217;s comprehensive income from the notes of the consolidated financial statements, where it is currently disclosed, to the face of the condensed consolidated financial statements.</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In September 2011, the FASB issued ASU 2011-08, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Testing Goodwill for Impairment</font><font style="font-family:inherit;font-size:10pt;">, (&#8220;ASU 2011-08&#8221;), which amends the guidance in ASC 350-20, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles &#8211; Goodwill and Other &#8211; Goodwill</font><font style="font-family:inherit;font-size:10pt;">. Under ASU 2011-08, entities have the option of performing a qualitative assessment before calculating the fair value of the reporting unit when testing goodwill for impairment. If the fair value of the reporting unit is determined, based on qualitative factors, to be more likely than not less than the carrying amount of the reporting unit, then entities are required to perform the two-step goodwill impairment test. ASU 2011-08 will be effective for the Company&#8217;s fiscal year beginning December&#160;1, 2012, with early adoption permitted. The adoption of ASU 2011-08 is not expected to have a material effect on the Company&#8217;s condensed consolidated financial statements.</font></div></div>
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us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
145000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
6164000 USD
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
12074000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4853000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
50000000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
888000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
5222000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
30546000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
1209000 USD
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0 USD
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-170589000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
283000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
1073000 USD
CY2011Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
103976000 USD
CY2011Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
91177000 USD
CY2012Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
84488000 USD
CY2010Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
109179000 USD
CY2012Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
85717000 USD
CY2011Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
88120000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-23640000 USD
CY2011Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-22087000 USD
CY2012Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-13015000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-29302000 USD
CY2011Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
2689000 USD
CY2012Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3779908000 USD
CY2010Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3194383000 USD
CY2011Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3259248000 USD
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
621220000 USD
CY2012Q2 us-gaap Treasury Stock Value
TreasuryStockValue
615698000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
6807000 USD
CY2011Q2 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
78000 USD
CY2012Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
8106000 USD
CY2011Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
6599000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
11338000 USD
CY2012Q2 us-gaap Profit Loss
ProfitLoss
454424000 USD
us-gaap Profit Loss
ProfitLoss
462401000 USD
CY2011Q2 us-gaap Profit Loss
ProfitLoss
24847000 USD
us-gaap Profit Loss
ProfitLoss
63573000 USD
CY2012Q2 us-gaap Profit Loss From Real Estate Operations
ProfitLossFromRealEstateOperations
15000000 USD
us-gaap Reclassifications
Reclassifications
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassification</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts in the condensed consolidated financial statements have been reclassified to conform with the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2012</font><font style="font-family:inherit;font-size:10pt;"> presentation.</font></div></div>
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
62712000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
42067000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
14132000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
9212000 USD
CY2011Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
3844000 USD
CY2012Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
6856000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
956401000 USD
CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1408940000 USD
us-gaap Revenues
Revenues
1322538000 USD
us-gaap Revenues
Revenues
1655011000 USD
CY2012Q2 us-gaap Revenues
Revenues
930155000 USD
CY2011Q2 us-gaap Revenues
Revenues
764493000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
11506000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15932000 USD
CY2012Q2 us-gaap Share Based Compensation
ShareBasedCompensation
7771000 USD
CY2011Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4776000 USD
CY2012Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
3800000 USD
CY2011Q2 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
932000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1800000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
2294000 USD
CY2012Q2 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
915000 USD
CY2012Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
20000000 shares
CY2012Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
6200000 shares
CY2011Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2012Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
3177378000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
2696468000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3303525000 USD
CY2012Q2 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
6594000 USD
CY2011Q2 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
79000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
36700000 USD
CY2012Q2 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
6594000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
340000 USD
us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
6807000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12300000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
24400000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
20000000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
20700000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
2000000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1700000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
5500000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</font></div></div>
CY2012Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
403000000 USD
CY2012Q2 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
2136900000 USD
CY2011Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
2317400000 USD
CY2011Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
902300000 USD
CY2012Q2 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
742800000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215912000 shares
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
195305000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
195082000 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
218011000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
184388000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
186214000 shares
CY2011Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
184621000 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
186432000 shares
CY2012Q2 len Active Communities
ActiveCommunities
438
CY2011Q2 len Active Communities
ActiveCommunities
449
CY2011Q4 len Aggregate Principal Balance Of Loans Held For Sale
AggregatePrincipalBalanceOfLoansHeldForSale
292200000 USD
CY2012Q2 len Aggregate Principal Balance Of Loans Held For Sale
AggregatePrincipalBalanceOfLoansHeldForSale
254100000 USD
len Cash Payments To Decreased In Maximum Recourse Exposure
CashPaymentsToDecreasedInMaximumRecourseExposure
3400000 USD
CY2012Q2 len Chinese Drywall Accrual
ChineseDrywallAccrual
82200000 USD
CY2012Q2 len Chinese Drywall Number Of Homes
ChineseDrywallNumberOfHomes
1000
CY2011Q2 len Chinese Drywall Payments Received
ChineseDrywallPaymentsReceived
1100000 USD
len Chinese Drywall Payments Received
ChineseDrywallPaymentsReceived
300000 USD
len Chinese Drywall Payments Received
ChineseDrywallPaymentsReceived
2400000 USD
CY2012Q2 len Chinese Drywall Payments Received
ChineseDrywallPaymentsReceived
300000 USD
len Chinese Drywall Percentage Of Homes
ChineseDrywallPercentageOfHomes
0.012
CY2012Q2 len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
5437000 USD
len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
4526000 USD
len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
5437000 USD
CY2011Q2 len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
0 USD
CY2012Q2 len Consolidated Entities Amount Assets
ConsolidatedEntitiesAmountAssets
7300000 USD
len Debts Payable
DebtsPayable
0 USD
len Debts Payable
DebtsPayable
14703000 USD
len Decreases In Accrued Interest And Penalties
DecreasesInAccruedInterestAndPenalties
1300000 USD
CY2012Q2 len Decreases In Accrued Interest And Penalties
DecreasesInAccruedInterestAndPenalties
1100000 USD
len Decreases In Consolidated Inventory Not Owned
DecreasesInConsolidatedInventoryNotOwned
23100000 USD
len Decreases In Maximum Recourse Exposure
DecreasesInMaximumRecourseExposure
37200000 USD
len Discount Rate For Impairment
DiscountRateForImpairment
0.20
len Distributed Earnings Allocated To Participating Securities
DistributedEarningsAllocatedToParticipatingSecurities
227000 USD
CY2011Q2 len Distributed Earnings Allocated To Participating Securities
DistributedEarningsAllocatedToParticipatingSecurities
93000 USD
CY2012Q2 len Distributed Earnings Allocated To Participating Securities
DistributedEarningsAllocatedToParticipatingSecurities
112000 USD
len Distributed Earnings Allocated To Participating Securities
DistributedEarningsAllocatedToParticipatingSecurities
194000 USD
len Effective Income Tax Rate Continuing Operations Before Net Increases Decreases Of Gross Unrecognized Tax Benefits
EffectiveIncomeTaxRateContinuingOperationsBeforeNetIncreasesDecreasesOfGrossUnrecognizedTaxBenefits
6.3117
len Employee And Director Plan
EmployeeAndDirectorPlan
14239000 USD
len Employee And Director Plan
EmployeeAndDirectorPlan
7439000 USD
CY2012Q2 len Employee And Director Plan Shares
EmployeeAndDirectorPlanShares
0 shares
len Employee And Director Plan Shares
EmployeeAndDirectorPlanShares
300000 shares
CY2012Q2 len Equity In Income Loss From Subsidiaries
EquityInIncomeLossFromSubsidiaries
USD
CY2011Q2 len Equity In Income Loss From Subsidiaries
EquityInIncomeLossFromSubsidiaries
USD
len Equity In Income Loss From Subsidiaries
EquityInIncomeLossFromSubsidiaries
USD
len Equity In Income Loss From Subsidiaries
EquityInIncomeLossFromSubsidiaries
USD
CY2012Q2 len Equity Method Investment Voting Right Percentage
EquityMethodInvestmentVotingRightPercentage
0.5
len Exercise Of Land Option Contracts From Unconsolidated Land Investment Venture
ExerciseOfLandOptionContractsFromUnconsolidatedLandInvestmentVenture
17264000 USD
len Exercise Of Land Option Contracts From Unconsolidated Land Investment Venture
ExerciseOfLandOptionContractsFromUnconsolidatedLandInvestmentVenture
16490000 USD
CY2011Q2 len Expenses For Remedying Pre Existing Liability
ExpensesForRemedyingPreExistingLiability
1000000 USD
len Expenses For Remedying Pre Existing Liability
ExpensesForRemedyingPreExistingLiability
7600000 USD
len Gain Losses On Extinguishment Of Debt Of Unconsolidated Entities
GainLossesOnExtinguishmentOfDebtOfUnconsolidatedEntities
123000000 USD
len Guarantee By Subsidiaries
GuaranteeBySubsidiaries
75000000 USD
len Intercompany Financing
IntercompanyFinancing
USD
len Intercompany Financing
IntercompanyFinancing
USD
len Inventories
Inventories
49522000 USD
len Inventories
Inventories
0 USD
CY2011Q4 len Investments In Unconsolidated Variable Interest Entities
InvestmentsInUnconsolidatedVariableInterestEntities
182593000 USD
CY2012Q2 len Investments In Unconsolidated Variable Interest Entities
InvestmentsInUnconsolidatedVariableInterestEntities
194939000 USD
CY2011Q4 len Joint And Several Recourse Debt Repayment
JointAndSeveralRecourseDebtRepayment
46292000 USD
CY2012Q2 len Joint And Several Recourse Debt Repayment
JointAndSeveralRecourseDebtRepayment
26650000 USD
CY2011Q4 len Joint And Several Reimbursement Agreements With Companys Partners
JointAndSeveralReimbursementAgreementsWithCompanysPartners
33795000 USD
CY2012Q2 len Joint And Several Reimbursement Agreements With Companys Partners
JointAndSeveralReimbursementAgreementsWithCompanysPartners
22820000 USD
CY2012Q1 len Loan Origination Liabilities
LoanOriginationLiabilities
5961000 USD
CY2011Q1 len Loan Origination Liabilities
LoanOriginationLiabilities
9872000 USD
CY2011Q2 len Loan Origination Liabilities
LoanOriginationLiabilities
9951000 USD
CY2012Q2 len Loan Origination Liabilities
LoanOriginationLiabilities
6198000 USD
CY2010Q4 len Loan Origination Liabilities
LoanOriginationLiabilities
9872000 USD
CY2011Q4 len Loan Origination Liabilities
LoanOriginationLiabilities
6050000 USD
CY2012Q2 len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
130000 USD
len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
320000 USD
len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
0 USD
CY2011Q2 len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
0 USD
len Loans Held For Sale Difference
LoansHeldForSaleDifference
13900000 USD
CY2011 len Loans Held For Sale Difference
LoansHeldForSaleDifference
11600000 USD
CY2011Q4 len Maximum Recourse Exposure
MaximumRecourseExposure
108700000 USD
CY2012Q2 len Maximum Recourse Exposure
MaximumRecourseExposure
71539000 USD
len Net Disposals Additions Of Operating Properties And Equipment
NetDisposalsAdditionsOfOperatingPropertiesAndEquipment
390000 USD
len Net Disposals Additions Of Operating Properties And Equipment
NetDisposalsAdditionsOfOperatingPropertiesAndEquipment
-1307000 USD
len Net Increase In Consolidated Inventory Not Owned
NetIncreaseInConsolidatedInventoryNotOwned
2900000 USD
len Net Payments Receipts To From Noncontrolling Interest
NetPaymentsReceiptsToFromNoncontrollingInterest
743000 USD
len Net Payments Receipts To From Noncontrolling Interest
NetPaymentsReceiptsToFromNoncontrollingInterest
-942000 USD
CY2012Q2 len Net Recourse Exposure
NetRecourseExposure
48719000 USD
CY2011Q4 len Net Recourse Exposure
NetRecourseExposure
74905000 USD
len Net Repayments Proceeds Of Other Debt
NetRepaymentsProceedsOfOtherDebt
11521000 USD
len Net Repayments Proceeds Of Other Debt
NetRepaymentsProceedsOfOtherDebt
61503000 USD
len Non Cash Reduction To Maximum Recourse Exposure
NonCashReductionToMaximumRecourseExposure
33800000 USD
len Noncontrolling Interests
NoncontrollingInterests
529000 USD
len Noncontrolling Interests
NoncontrollingInterests
0 USD
len Noncontrolling Interests Non Cash Consolidations
NoncontrollingInterestsNonCashConsolidations
529000 USD
CY2012Q2 len Number Of Communities Assessed For Impairment
NumberOfCommunitiesAssessedForImpairment
13
len Other Assets Disclosure
OtherAssetsDisclosure
3707000 USD
len Other Assets Disclosure
OtherAssetsDisclosure
0 USD
len Other Liabilities Disclosure
OtherLiabilitiesDisclosure
9423000 USD
len Other Liabilities Disclosure
OtherLiabilitiesDisclosure
0 USD
len Other Loan Paydowns
OtherLoanPaydowns
3900000 USD
len Other Loan Paydowns
OtherLoanPaydowns
13000000 USD
CY2011Q2 len Other Loan Paydowns
OtherLoanPaydowns
12400000 USD
CY2012Q2 len Other Loan Paydowns
OtherLoanPaydowns
500000 USD
CY2012Q2 len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
0 USD
len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
0 USD
len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
0 USD
CY2011Q2 len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
0 USD
len Payments Under Maintenance Guarantees
PaymentsUnderMaintenanceGuarantees
1700000 USD
CY2011Q2 len Payments Under Maintenance Guarantees
PaymentsUnderMaintenanceGuarantees
0 USD
len Proceeds From Convertible Senior Notes Net
ProceedsFromConvertibleSeniorNotesNet
48965000 USD
CY2011Q2 len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
4078000 USD
CY2012Q2 len Treasury Yield Calculated Term
TreasuryYieldCalculatedTerm
3
CY2012Q2 len Provision For Loan Losses
ProvisionForLoanLosses
122000 USD
len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
-50000 USD
len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
253000 USD
CY2011Q2 len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
20000 USD
CY2012Q2 len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
245000 USD
len Recognized Deferred Management Fee Income
RecognizedDeferredManagementFeeIncome
10000000 USD
len Reo Held And Used Improvements
ReoHeldAndUsedImprovements
0 USD
len Reo Held And Used Improvements
ReoHeldAndUsedImprovements
780000 USD
CY2011Q2 len Reo Held And Used Improvements
ReoHeldAndUsedImprovements
0 USD
CY2012Q2 len Reo Held And Used Improvements
ReoHeldAndUsedImprovements
780000 USD
CY2012Q2 len Sales Incentives
SalesIncentives
95264000 USD
len Sales Incentives
SalesIncentives
152802000 USD
len Sales Incentives
SalesIncentives
179700000 USD
CY2011Q2 len Sales Incentives
SalesIncentives
89900000 USD
len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
31700000 USD
CY2012Q2 len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
29800000 USD
CY2011Q2 len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
33900000 USD
len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
33500000 USD
CY2011Q4 len Several Recourse Debt Repayment
SeveralRecourseDebtRepayment
62408000 USD
CY2012Q2 len Several Recourse Debt Repayment
SeveralRecourseDebtRepayment
44889000 USD
CY2012Q2 len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
9677000 USD
len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
26618000 USD
len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
12003000 USD
CY2011Q4 len Unconsolidated Entities With Recourse Debt Carrying Amount Assets
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountAssets
1865144000 USD
CY2012Q2 len Unconsolidated Entities With Recourse Debt Carrying Amount Assets
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountAssets
1824741000 USD
CY2012Q2 len Unconsolidated Entities With Recourse Debt Carrying Amount Equity
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountEquity
1047091000 USD
CY2011Q4 len Unconsolidated Entities With Recourse Debt Carrying Amount Equity
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountEquity
1049329000 USD
CY2012Q2 len Unconsolidated Entities With Recourse Debt Carrying Amount Liabilities
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountLiabilities
777650000 USD
CY2011Q4 len Unconsolidated Entities With Recourse Debt Carrying Amount Liabilities
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountLiabilities
815815000 USD
CY2011Q4 len Unconsolidated Variable Interest Entitys Maximum Loss Exposure Amount
UnconsolidatedVariableInterestEntitysMaximumLossExposureAmount
218614000 USD
CY2012Q2 len Unconsolidated Variable Interest Entitys Maximum Loss Exposure Amount
UnconsolidatedVariableInterestEntitysMaximumLossExposureAmount
226039000 USD
CY2012Q2 len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
5687000 USD
CY2011Q2 len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
85000 USD
len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
5958000 USD
len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
342000 USD
CY2012Q2 len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
2404000 USD
len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
8140000 USD
len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
4429000 USD
CY2011Q2 len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
3328000 USD
len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
18000 USD
CY2011Q2 len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
150000 USD
len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
8412000 USD
CY2012Q2 len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
7000 USD
len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
281000 USD
len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
348000 USD
CY2011Q2 len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
228000 USD
CY2012Q2 len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
348000 USD
CY2012Q2 len Variable Interest Entities Letters Of Credit
VariableInterestEntitiesLettersOfCredit
43400000 USD
CY2011Q4 len Variable Interest Entities Letters Of Credit
VariableInterestEntitiesLettersOfCredit
44100000 USD
CY2012Q2 len Variable Interest Entities Non Refundable Option Deposits And Pre Acquisition Costs
VariableInterestEntitiesNonRefundableOptionDepositsAndPreAcquisitionCosts
136500000 USD
CY2011Q4 len Variable Interest Entities Non Refundable Option Deposits And Pre Acquisition Costs
VariableInterestEntitiesNonRefundableOptionDepositsAndPreAcquisitionCosts
156800000 USD
len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
771000 USD
CY2012Q2 len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
481000 USD
CY2011Q2 len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
372000 USD
len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
453000 USD
len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
4806000 USD
CY2011Q2 len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
0 USD
CY2012Q2 len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
1000000 USD
len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
1000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--11-30
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-05-31
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000920760
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
LENNAR CORP /NEW/

Files In Submission

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