$LEN
LENNAR CORP /NEW/

2012 Q3 Form 10-Q Financial Statement

#000144530512003093 Filed on October 10, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $1.100B $820.2M
YoY Change 34.11% -0.58%
Cost Of Revenue $978.3M $754.9M
YoY Change 29.59% 0.41%
Gross Profit $121.5M $65.30M
YoY Change 86.06% -10.67%
Gross Profit Margin 11.05% 7.96%
Selling, General & Admin $32.30M $22.80M
YoY Change 41.67% -5.0%
% of Gross Profit 26.58% 34.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.900M $4.600M
YoY Change 71.74% 39.39%
% of Gross Profit 6.5% 7.04%
Operating Expenses $47.70M $19.50M
YoY Change 144.62% -17.72%
Operating Profit $90.92M $46.86M
YoY Change 94.05% -5.15%
Interest Expense -$15.10M -$21.70M
YoY Change -30.41% 117.0%
% of Operating Profit -16.61% -46.31%
Other Income/Expense, Net
YoY Change
Pretax Income $58.64M $24.08M
YoY Change 143.51% -38.89%
Income Tax -$12.78M $579.0K
% Of Pretax Income -21.79% 2.4%
Net Earnings $87.11M $20.73M
YoY Change 320.21% -30.9%
Net Earnings / Revenue 7.92% 2.53%
Basic Earnings Per Share $0.46 $0.11
Diluted Earnings Per Share $0.40 $0.11
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 219.6M shares 195.2M shares

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $765.0M $870.0M
YoY Change -12.07% -6.25%
Cash & Equivalents $845.2M $927.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $5.036B $4.265B
Prepaid Expenses
Receivables $46.00M $56.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.847B $5.191B
YoY Change 12.64% -1.59%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $672.0M $796.0M
YoY Change -15.58% 6.99%
Other Assets $7.000M $9.000M
YoY Change -22.22% -93.13%
Total Long-Term Assets $3.872B $3.533B
YoY Change 9.58% 17.58%
TOTAL ASSETS
Total Short-Term Assets $5.847B $5.191B
Total Long-Term Assets $3.872B $3.533B
Total Assets $9.719B $8.724B
YoY Change 11.4% 5.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $170.0M $197.0M
YoY Change -13.71% -1.5%
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 $170.0M $197.0M
YoY Change -13.71% -1.5%
LONG-TERM LIABILITIES
Long-Term Debt $4.624B $4.109B
YoY Change 12.53% 18.01%
Other Long-Term Liabilities $1.066B $1.138B
YoY Change -6.33% -25.57%
Total Long-Term Liabilities $5.690B $5.247B
YoY Change 8.44% 4.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $170.0M $197.0M
Total Long-Term Liabilities $5.690B $5.247B
Total Liabilities $5.860B $5.444B
YoY Change 7.65% 4.46%
SHAREHOLDERS EQUITY
Retained Earnings $1.488B $933.6M
YoY Change 59.43%
Common Stock $2.379B $2.332B
YoY Change 1.98%
Preferred Stock
YoY Change
Treasury Stock (at cost) $615.7M $615.5M
YoY Change 0.03%
Treasury Stock Shares
Shareholders Equity $3.272B $2.670B
YoY Change
Total Liabilities & Shareholders Equity $9.719B $8.724B
YoY Change 11.4% 5.36%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $87.11M $20.73M
YoY Change 320.21% -30.9%
Depreciation, Depletion And Amortization $7.900M $4.600M
YoY Change 71.74% 39.39%
Cash From Operating Activities -$276.7M -$120.2M
YoY Change 130.2% 40.42%
INVESTING ACTIVITIES
Capital Expenditures -$3.200M -$2.000M
YoY Change 60.0% -766.67%
Acquisitions
YoY Change
Other Investing Activities $66.00M -$64.00M
YoY Change -203.12% -44.01%
Cash From Investing Activities $62.80M -$66.00M
YoY Change -195.15% -42.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 229.7M -17.90M
YoY Change -1383.24% -10.05%
NET CHANGE
Cash From Operating Activities -276.7M -120.2M
Cash From Investing Activities 62.80M -66.00M
Cash From Financing Activities 229.7M -17.90M
Net Change In Cash 15.80M -204.1M
YoY Change -107.74% -7.02%
FREE CASH FLOW
Cash From Operating Activities -$276.7M -$120.2M
Capital Expenditures -$3.200M -$2.000M
Free Cash Flow -$273.5M -$118.2M
YoY Change 131.39% 37.6%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
len Guarantee By Subsidiaries
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len Intercompany Financing
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len Provision For Losses Preexisting Increase Decrease
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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 Operating Income Loss
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152926000 USD
CY2012Q3 us-gaap Other Notes Payable
OtherNotesPayable
491707000 USD
CY2011Q4 us-gaap Other Notes Payable
OtherNotesPayable
439904000 USD
CY2011Q3 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
94000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
378000 USD
CY2012Q3 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
151000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
288000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-7281000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
52858000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
29000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4814000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
22425000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
22755000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
7087000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
480000 USD
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
50000000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
445186000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
16323000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5547000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
400000000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
5765000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
1046000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
31561000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
2957000 USD
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-170889000 USD
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0 USD
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
-27368000 USD
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
-81506000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
6938000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
19232000 USD
CY2011Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
91907000 USD
CY2011Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
88120000 USD
CY2010Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
109179000 USD
CY2011Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
91177000 USD
CY2012Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
84488000 USD
CY2012Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
84781000 USD
CY2011Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-11234000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-33582000 USD
CY2012Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-9942000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-40536000 USD
CY2011Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
4894000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
4856000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
5813000 USD
CY2012Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
766000 USD
CY2011Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
7070000 USD
CY2012Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
9469000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
18408000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
24430000 USD
us-gaap Profit Loss
ProfitLoss
533812000 USD
CY2011Q3 us-gaap Profit Loss
ProfitLoss
23500000 USD
us-gaap Profit Loss
ProfitLoss
87073000 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
71411000 USD
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
84463000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
58929000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
21801000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
13001000 USD
CY2012Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
7669000 USD
CY2011Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
3789000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
956401000 USD
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1488426000 USD
CY2011Q3 us-gaap Revenues
Revenues
820193000 USD
CY2012Q3 us-gaap Revenues
Revenues
1099758000 USD
us-gaap Revenues
Revenues
2754769000 USD
us-gaap Revenues
Revenues
2142731000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
24181000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
16220000 USD
CY2011Q3 us-gaap Share Based Compensation
ShareBasedCompensation
4714000 USD
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
8249000 USD
CY2012Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
3800000 USD
CY2012Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
1200000 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
1300000 shares
CY2012Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
580000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
2380000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
3219000 USD
CY2011Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
925000 USD
CY2012Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
20000000 shares
CY2012Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
6200000 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
300000 shares
CY2012Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
CY2011Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2012Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
3271722000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
2696468000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3303525000 USD
CY2012Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3858377000 USD
CY2010Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3194383000 USD
CY2011Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3280287000 USD
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
621220000 USD
CY2012Q3 us-gaap Treasury Stock Value
TreasuryStockValue
615698000 USD
CY2012Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
1378000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
8411000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
504000 USD
CY2011Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
164000 USD
us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
8411000 USD
CY2012Q3 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
1378000 USD
CY2011Q3 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
164000 USD
us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
503000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
36700000 USD
CY2012Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12300000 USD
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
CY2012Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
23900000 USD
CY2012Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
3300000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
5300000 USD
CY2012Q3 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>
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
447000000 USD
CY2012Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
8600000 USD
CY2012Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
2110100000 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
len Intercompany Financing
IntercompanyFinancing
USD
CY2012Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
719000000 USD
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
195152000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
217135000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
195105000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
219580000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
186761000 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
184665000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
186397000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
184480000 shares
CY2012Q3 len Active Communities
ActiveCommunities
442
CY2011Q3 len Active Communities
ActiveCommunities
426
CY2011Q4 len Aggregate Principal Balance Of Loans Held For Sale
AggregatePrincipalBalanceOfLoansHeldForSale
292200000 USD
CY2012Q3 len Aggregate Principal Balance Of Loans Held For Sale
AggregatePrincipalBalanceOfLoansHeldForSale
402600000 USD
len Cash Payments To Decreased In Maximum Recourse Exposure
CashPaymentsToDecreasedInMaximumRecourseExposure
13700000 USD
CY2012Q3 len Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Write Downs
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesWriteDowns
3000000 USD
CY2012Q3 len Chinese Drywall Accrual
ChineseDrywallAccrual
82200000 USD
CY2012Q3 len Chinese Drywall Number Of Homes
ChineseDrywallNumberOfHomes
1000
len Chinese Drywall Payments Received
ChineseDrywallPaymentsReceived
900000 USD
len Chinese Drywall Payments Received
ChineseDrywallPaymentsReceived
3300000 USD
CY2011Q3 len Chinese Drywall Payments Received
ChineseDrywallPaymentsReceived
900000 USD
CY2012Q3 len Chinese Drywall Payments Received
ChineseDrywallPaymentsReceived
600000 USD
len Chinese Drywall Percentage Of Homes
ChineseDrywallPercentageOfHomes
0.012
len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
5212000 USD
CY2011Q3 len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
686000 USD
len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
5525000 USD
CY2012Q3 len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
88000 USD
CY2012Q3 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
1400000 USD
CY2012Q3 len Decreases In Accrued Interest And Penalties
DecreasesInAccruedInterestAndPenalties
100000 USD
len Decreases In Consolidated Inventory Not Owned
DecreasesInConsolidatedInventoryNotOwned
62300000 USD
len Decreases In Maximum Recourse Exposure
DecreasesInMaximumRecourseExposure
41900000 USD
len Effective Income Tax Rate Continuing Operations Before Net Increases Decreases Of Gross Unrecognized Tax Benefits
EffectiveIncomeTaxRateContinuingOperationsBeforeNetIncreasesDecreasesOfGrossUnrecognizedTaxBenefits
-3.0083
len Employee And Director Plan
EmployeeAndDirectorPlan
18949000 USD
len Employee And Director Plan
EmployeeAndDirectorPlan
9045000 USD
CY2012Q3 len Equity In Income Loss From Subsidiaries
EquityInIncomeLossFromSubsidiaries
USD
CY2011Q3 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
len Exercise Of Land Option Contracts From Unconsolidated Land Investment Venture
ExerciseOfLandOptionContractsFromUnconsolidatedLandInvestmentVenture
48242000 USD
len Exercise Of Land Option Contracts From Unconsolidated Land Investment Venture
ExerciseOfLandOptionContractsFromUnconsolidatedLandInvestmentVenture
33827000 USD
len Expenses For Remedying Pre Existing Liability
ExpensesForRemedyingPreExistingLiability
8100000 USD
CY2011Q3 len Expenses For Remedying Pre Existing Liability
ExpensesForRemedyingPreExistingLiability
500000 USD
len Inventories
Inventories
52850000 USD
CY2011Q4 len Joint And Several Recourse Debt Repayment
JointAndSeveralRecourseDebtRepayment
46292000 USD
CY2012Q3 len Joint And Several Recourse Debt Repayment
JointAndSeveralRecourseDebtRepayment
22043000 USD
CY2011Q4 len Joint And Several Reimbursement Agreements With Companys Partners
JointAndSeveralReimbursementAgreementsWithCompanysPartners
33795000 USD
CY2012Q3 len Joint And Several Reimbursement Agreements With Companys Partners
JointAndSeveralReimbursementAgreementsWithCompanysPartners
18673000 USD
CY2011Q3 len Loan Origination Liabilities
LoanOriginationLiabilities
6895000 USD
CY2012Q3 len Loan Origination Liabilities
LoanOriginationLiabilities
6154000 USD
CY2010Q4 len Loan Origination Liabilities
LoanOriginationLiabilities
9872000 USD
CY2011Q4 len Loan Origination Liabilities
LoanOriginationLiabilities
6050000 USD
CY2012Q2 len Loan Origination Liabilities
LoanOriginationLiabilities
6198000 USD
CY2011Q2 len Loan Origination Liabilities
LoanOriginationLiabilities
9951000 USD
len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
529000 USD
len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
3174000 USD
CY2011Q3 len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
3174000 USD
CY2012Q3 len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
209000 USD
CY2011Q4 len Maximum Recourse Exposure
MaximumRecourseExposure
108700000 USD
CY2012Q3 len Maximum Recourse Exposure
MaximumRecourseExposure
66838000 USD
len Net Disposals Additions Of Operating Properties And Equipment
NetDisposalsAdditionsOfOperatingPropertiesAndEquipment
-3307000 USD
len Net Disposals Additions Of Operating Properties And Equipment
NetDisposalsAdditionsOfOperatingPropertiesAndEquipment
-3201000 USD
len Net Increase In Consolidated Inventory Not Owned
NetIncreaseInConsolidatedInventoryNotOwned
5900000 USD
len Net Payments Receipts To From Noncontrolling Interest
NetPaymentsReceiptsToFromNoncontrollingInterest
566000 USD
len Net Payments Receipts To From Noncontrolling Interest
NetPaymentsReceiptsToFromNoncontrollingInterest
-1322000 USD
CY2012Q3 len Net Recourse Exposure
NetRecourseExposure
48165000 USD
CY2011Q4 len Net Recourse Exposure
NetRecourseExposure
74905000 USD
len Non Cash Reduction To Maximum Recourse Exposure
NonCashReductionToMaximumRecourseExposure
28200000 USD
len Noncontrolling Interests
NoncontrollingInterests
532000 USD
len Noncontrolling Interests
NoncontrollingInterests
0 USD
len Noncontrolling Interests Non Cash Consolidations
NoncontrollingInterestsNonCashConsolidations
532000 USD
len Number Of Communities Assessed For Impairment
NumberOfCommunitiesAssessedForImpairment
14
len Other Assets Disclosure
OtherAssetsDisclosure
380000 USD
len Other Assets Disclosure
OtherAssetsDisclosure
0 USD
len Other Liabilities Disclosure
OtherLiabilitiesDisclosure
9423000 USD
len Other Liabilities Disclosure
OtherLiabilitiesDisclosure
0 USD
CY2011Q3 len Other Loan Paydowns
OtherLoanPaydowns
3100000 USD
CY2012Q3 len Other Loan Paydowns
OtherLoanPaydowns
1300000 USD
len Other Loan Paydowns
OtherLoanPaydowns
5200000 USD
len Other Loan Paydowns
OtherLoanPaydowns
16100000 USD
len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
USD
CY2012Q3 len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
USD
len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
USD
CY2011Q3 len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
USD
len Payments Under Maintenance Guarantees
PaymentsUnderMaintenanceGuarantees
1700000 USD
CY2011Q3 len Payments Under Maintenance Guarantees
PaymentsUnderMaintenanceGuarantees
USD
CY2012Q3 len Provision For Loan Losses
ProvisionForLoanLosses
165000 USD
len Provision For Loan Losses
ProvisionForLoanLosses
247000 USD
CY2011Q3 len Provision For Loan Losses
ProvisionForLoanLosses
118000 USD
CY2011Q3 len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
0 USD
CY2012Q3 len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
0 USD
len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
253000 USD
len Receivable
Receivable
2000 USD
len Receivable
Receivable
0 USD
len Recognized Deferred Management Fee Income
RecognizedDeferredManagementFeeIncome
10000000 USD
CY2012Q3 len Sales Incentives
SalesIncentives
94304000 USD
CY2011Q3 len Sales Incentives
SalesIncentives
95088000 USD
len Sales Incentives
SalesIncentives
274022000 USD
len Sales Incentives
SalesIncentives
247890000 USD
len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
33600000 USD
CY2012Q3 len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
26100000 USD
len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
29500000 USD
CY2011Q3 len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
33600000 USD
CY2011Q3 len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
165000 USD
len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
492000 USD
CY2011Q4 len Several Recourse Debt Repayment
SeveralRecourseDebtRepayment
62408000 USD
CY2012Q3 len Several Recourse Debt Repayment
SeveralRecourseDebtRepayment
44795000 USD
len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
40104000 USD
CY2011Q3 len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
13486000 USD
len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
18196000 USD
CY2012Q3 len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
6193000 USD
CY2011Q4 len Unconsolidated Entities With Recourse Debt Carrying Amount Assets
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountAssets
1865144000 USD
CY2012Q3 len Unconsolidated Entities With Recourse Debt Carrying Amount Assets
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountAssets
1807541000 USD
CY2012Q3 len Unconsolidated Entities With Recourse Debt Carrying Amount Equity
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountEquity
1041319000 USD
CY2011Q4 len Unconsolidated Entities With Recourse Debt Carrying Amount Equity
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountEquity
1049329000 USD
CY2012Q3 len Unconsolidated Entities With Recourse Debt Carrying Amount Liabilities
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountLiabilities
766222000 USD
CY2011Q4 len Unconsolidated Entities With Recourse Debt Carrying Amount Liabilities
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountLiabilities
815815000 USD
CY2012Q3 len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
1215000 USD
len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
508000 USD
CY2011Q3 len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
166000 USD
len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
7352000 USD
len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
17802000 USD
len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
9080000 USD
CY2011Q3 len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
9662000 USD
CY2012Q3 len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
4651000 USD
len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
18000 USD
CY2011Q3 len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
2077000 USD
len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
10489000 USD
CY2012Q3 len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
USD
CY2012Q3 len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
144000 USD
CY2011Q4 len Variable Interest Entities Letters Of Credit
VariableInterestEntitiesLettersOfCredit
44100000 USD
CY2012Q3 len Variable Interest Entities Letters Of Credit
VariableInterestEntitiesLettersOfCredit
43300000 USD
CY2012Q3 len Variable Interest Entities Non Refundable Option Deposits And Pre Acquisition Costs
VariableInterestEntitiesNonRefundableOptionDepositsAndPreAcquisitionCosts
169800000 USD
CY2011Q4 len Variable Interest Entities Non Refundable Option Deposits And Pre Acquisition Costs
VariableInterestEntitiesNonRefundableOptionDepositsAndPreAcquisitionCosts
156800000 USD
CY2012Q3 len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
1310000 USD
len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
2081000 USD
len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
1349000 USD
CY2011Q3 len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
896000 USD
CY2011Q3 len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
USD
len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
4806000 USD
CY2012Q3 len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
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
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-08-31
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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