$LEN
LENNAR CORP /NEW/

2013 Q3 Form 10-Q Financial Statement

#000144530513002387 Filed on October 10, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $1.603B $1.100B
YoY Change 45.71% 34.11%
Cost Of Revenue $1.369B $978.3M
YoY Change 39.94% 29.59%
Gross Profit $233.1M $121.5M
YoY Change 91.85% 86.06%
Gross Profit Margin 14.54% 11.05%
Selling, General & Admin $37.60M $32.30M
YoY Change 16.41% 41.67%
% of Gross Profit 16.13% 26.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.000M $7.900M
YoY Change 1.27% 71.74%
% of Gross Profit 3.43% 6.5%
Operating Expenses $37.00M $47.70M
YoY Change -22.43% 144.62%
Operating Profit $227.0M $90.92M
YoY Change 149.64% 94.05%
Interest Expense -$6.700M -$15.10M
YoY Change -55.63% -30.41%
% of Operating Profit -2.95% -16.61%
Other Income/Expense, Net
YoY Change
Pretax Income $189.4M $58.64M
YoY Change 222.95% 143.51%
Income Tax $67.21M -$12.78M
% Of Pretax Income 35.49% -21.79%
Net Earnings $120.7M $87.11M
YoY Change 38.52% 320.21%
Net Earnings / Revenue 7.53% 7.92%
Basic Earnings Per Share $0.62 $0.46
Diluted Earnings Per Share $0.54 $0.40
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 225.3M shares 219.6M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $506.0M $765.0M
YoY Change -33.86% -12.07%
Cash & Equivalents $571.8M $845.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $6.529B $5.036B
Prepaid Expenses
Receivables $59.00M $46.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.094B $5.847B
YoY Change 21.33% 12.64%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $881.0M $672.0M
YoY Change 31.1% -15.58%
Other Assets $18.00M $7.000M
YoY Change 157.14% -22.22%
Total Long-Term Assets $3.922B $3.872B
YoY Change 1.29% 9.58%
TOTAL ASSETS
Total Short-Term Assets $7.094B $5.847B
Total Long-Term Assets $3.922B $3.872B
Total Assets $11.02B $9.719B
YoY Change 13.35% 11.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $270.0M $170.0M
YoY Change 58.82% -13.71%
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 $270.0M $170.0M
YoY Change 58.82% -13.71%
LONG-TERM LIABILITIES
Long-Term Debt $5.262B $4.624B
YoY Change 13.8% 12.53%
Other Long-Term Liabilities $1.313B $1.066B
YoY Change 23.17% -6.33%
Total Long-Term Liabilities $6.575B $5.690B
YoY Change 15.55% 8.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $270.0M $170.0M
Total Long-Term Liabilities $6.575B $5.690B
Total Liabilities $6.845B $5.860B
YoY Change 16.8% 7.65%
SHAREHOLDERS EQUITY
Retained Earnings $1.898B $1.488B
YoY Change 27.49% 59.43%
Common Stock $2.412B $2.379B
YoY Change 1.39% 1.98%
Preferred Stock
YoY Change
Treasury Stock (at cost) $615.9M $615.7M
YoY Change 0.03% 0.03%
Treasury Stock Shares
Shareholders Equity $3.714B $3.272B
YoY Change
Total Liabilities & Shareholders Equity $11.02B $9.719B
YoY Change 13.35% 11.4%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $120.7M $87.11M
YoY Change 38.52% 320.21%
Depreciation, Depletion And Amortization $8.000M $7.900M
YoY Change 1.27% 71.74%
Cash From Operating Activities -$407.8M -$276.7M
YoY Change 47.38% 130.2%
INVESTING ACTIVITIES
Capital Expenditures -$4.900M -$3.200M
YoY Change 53.13% 60.0%
Acquisitions
YoY Change
Other Investing Activities $37.00M $66.00M
YoY Change -43.94% -203.12%
Cash From Investing Activities $32.00M $62.80M
YoY Change -49.04% -195.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 55.90M 229.7M
YoY Change -75.66% -1383.24%
NET CHANGE
Cash From Operating Activities -407.8M -276.7M
Cash From Investing Activities 32.00M 62.80M
Cash From Financing Activities 55.90M 229.7M
Net Change In Cash -319.9M 15.80M
YoY Change -2124.68% -107.74%
FREE CASH FLOW
Cash From Operating Activities -$407.8M -$276.7M
Capital Expenditures -$4.900M -$3.200M
Free Cash Flow -$402.9M -$273.5M
YoY Change 47.31% 131.39%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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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 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 was effective for the Company&#8217;s quarter ended February 28, 2013. The adoption of ASU 2011-05 did not have a material effect on the Company&#8217;s condensed consolidated financial statements, but required a change in the presentation of the Company&#8217;s comprehensive income from the notes of the consolidated financial statements 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 was effective for the Company&#8217;s fiscal year beginning December&#160;1, 2012. The adoption of ASU 2011-08 did not have a material effect on the Company&#8217;s 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 April 2013, the FASB issued ASU 2013-04, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Liabilities,</font><font style="font-family:inherit;font-size:10pt;"> (&#8220;ASU 2013-04&#8221;). ASU 2013-04 provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. ASU 2013-04 will be effective for the Company&#8217;s fiscal year beginning December&#160;1, 2014 and subsequent interim periods. The adoption of ASU 2013-04 is not expected to have a material effect on the Company&#8217;s 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 July 2013, the FASB issued ASU 2013-11, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a similar Tax Loss, or a Tax Credit Carryforward Exists,</font><font style="font-family:inherit;font-size:10pt;"> (&#8220;ASU 2013-11&#8221;). ASU 2013-13 is intended to end inconsistent practices regarding the presentation of a unrecognized tax benefits when a net operating loss ("NOL"), a similar tax loss or a tax credit carryforward is available to reduce the taxable income or tax payable that would result from the dis- allowance of a tax position. ASU 2013-11 will be effective for the Company&#8217;s fiscal year beginning December&#160;1, 2014 and subsequent interim periods. The adoption of ASU 2013-11 is not expected to have a material effect on the Company&#8217;s condensed consolidated financial statements.</font></div></div>
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CY2013Q3 us-gaap Notional Amount Of Interest Rate Fair Value Hedge Derivatives
NotionalAmountOfInterestRateFairValueHedgeDerivatives
195700000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
205487000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
507711000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
90921000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
226978000 USD
CY2012Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
84600000 USD
CY2013Q3 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
18329000 USD
CY2013Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
90242000 USD
CY2013Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
99476000 USD
CY2012Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
84488000 USD
CY2012Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
84188000 USD
CY2013Q3 us-gaap Other Notes Payable
OtherNotesPayable
546554000 USD
CY2012Q4 us-gaap Other Notes Payable
OtherNotesPayable
471588000 USD
CY2013Q3 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
122000 USD
CY2012Q3 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
151000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
378000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
326000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
36529000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-7281000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
-191000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4814000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5189000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
23142000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
22755000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
480000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
174853000 USD
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q3 us-gaap Principal Amount Outstanding On Loans Held For Sale Or Securitization
PrincipalAmountOutstandingOnLoansHeldForSaleOrSecuritization
198000000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
50000000 USD
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
494811000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
33945000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
16323000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
500000000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
400000000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
1046000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
579000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
31561000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
76966000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
0 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
100000000 USD
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-360956000 USD
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-170889000 USD
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
-110682000 USD
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
-27368000 USD
CY2012Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
84781000 USD
CY2011Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
88120000 USD
CY2012Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-9942000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-34922000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-33582000 USD
CY2013Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
-12186000 USD
CY2012Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
766000 USD
CY2013Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
7506000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
5813000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
15415000 USD
CY2012Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
9469000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
24430000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
34795000 USD
CY2013Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
13914000 USD
us-gaap Profit Loss
ProfitLoss
321910000 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
71411000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
122154000 USD
us-gaap Profit Loss
ProfitLoss
533812000 USD
us-gaap Profit Loss From Real Estate Operations
ProfitLossFromRealEstateOperations
15000000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
187648000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
58929000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
-210862000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
-63001000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
21801000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
23430000 USD
CY2013Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
10269000 USD
CY2012Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
7669000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1605131000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1897579000 USD
us-gaap Revenue Recognition Services Management Fees
RevenueRecognitionServicesManagementFees
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Rialto Management Fees Revenue</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 Rialto Investments segment provides services to a variety of legal entities and investment vehicles such as funds, joint ventures, co-invests, and other private equity structures to manage their respective investments. As a result, Rialto earns and receives management fees, underwriting fees and due diligence fees. These fees related to the Rialto Investments segment are included in Rialto Investments revenue and are recorded over the period in which the services are performed, fees are determinable and collectability is reasonably assured. Rialto receives investment management fees from investment vehicles based on 1) a percentage of committed capital during the commitment period and after the commitment period ends and 2) a percentage of drawn commitments less the portion of such drawn commitments utilized to acquire investments that have been sold (in whole or in part) or liquidated (except to the extent such drawn commitments are subsequently reinvested in other investments) or completely written off. Fees earned for underwriting and due diligence services are based on actual costs incurred. In certain situations, Rialto may earn additional fees when the return on assets managed exceeds contractually established thresholds. Such revenue is only booked when the contract terms are met, the contract is at, or near, completion and the amounts are known and collectability is reasonably assured. Since such revenue is recognized at the end of the life of the investment vehicle, after substantially all of the assets have been sold and investment gains and losses realized, the possibility of claw backs is limited. The Company believes the way it records Rialto Investments' management fees revenue is a significant accounting policy because it represents a significant portion of the Rialto Investments segment's revenues and is expected to continue to grow in the future as the segment manages more assets. </font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Rialto Mortgage Finance</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Loans held-for-sale and Derivative Instruments &#8211; The originated mortgage loans are classified as Loans held-for-sale on the condensed consolidated balance sheet and are recorded at fair value. The Company elected the fair value option for its loans held-for-sale in accordance with ASC Topic 825, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Instruments</font><font style="font-family:inherit;font-size:10pt;">, which permits entities to measure various financial instruments and certain other items at fair value on a contract-by-contract basis. Management believes that carrying loans held-for-sale at fair value improves financial reporting by mitigating volatility in reported earnings caused by measuring the fair value of the loans and the derivative instruments used to economically hedge them without having to apply complex hedge accounting provisions. Changes in fair values of the loans and the derivative instruments are reflected in Rialto Investments' revenues in the accompanying condensed consolidated statements of operations. Interest income on these loans is calculated based on the interest rate of the loan and is recorded within Rialto Investments' revenues in the accompanying condensed consolidated statements of operations. Substantially all of the mortgage loans originated are sold within a short period of time in a securitization on a servicing released, non-recourse basis; although, the Company remains liable for certain limited industry-standard representations and warranties related to loan sales.</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 the normal course of business, the Company uses derivative financial instruments as a hedge to these loans during the period from when the Company has originated the loan until the time in which the loan is sold. These derivatives are used for risk management purposes to reduce its exposure to fluctuations in mortgage-related interest rates as well as lessen its credit risk. The Company hedges its interest rate exposure by entering into interest rate swap futures which had a notional outstanding balance of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$195.7 million</font><font style="font-family:inherit;font-size:10pt;"> as of August 31, 2013. Credit exposure is managed at a portfolio level by entering into credit default swaps. As of August 31, 2013, Rialto had a notional outstanding balance of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$170.0 million</font><font style="font-family:inherit;font-size:10pt;">, consisting of both single &#8220;A&#8221;, &#8220;AAA&#8221; and &#8220;BBB&#8221; rated CMBX swaps. The Company does not enter into or hold derivatives for trading or speculative purposes. The Company believes the way it records Rialto Investments' revenues related to its loans held-for-sale is a significant accounting policy because while it currently represents a small portion of the Rialto Investments' revenues, it is expected to continue to grow in the future as the segment grows its mortgage finance business. </font></div></div>
CY2012Q3 us-gaap Revenues
Revenues
1099758000 USD
us-gaap Revenues
Revenues
2754769000 USD
us-gaap Revenues
Revenues
4018142000 USD
CY2013Q3 us-gaap Revenues
Revenues
1602072000 USD
CY2013Q3 len Chinese Drywall Number Of Homes Resolved Through Class Action
ChineseDrywallNumberOfHomesResolvedThroughClassAction
60
us-gaap Share Based Compensation
ShareBasedCompensation
23527000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
24181000 USD
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
8249000 USD
CY2013Q3 us-gaap Share Based Compensation
ShareBasedCompensation
10333000 USD
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
300000 shares
CY2012Q3 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
0 shares
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
400000 shares
CY2013Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
1574000 USD
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
1300000 shares
CY2013Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
1200000 shares
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
CY2013Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
64000 USD
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
97000 USD
CY2013Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
20000000 shares
CY2013Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
6200000 shares
CY2011Q4 len Loan Origination Liabilities
LoanOriginationLiabilities
6050000 USD
CY2012Q4 len Loan Origination Liabilities
LoanOriginationLiabilities
7250000 USD
CY2012Q2 len Loan Origination Liabilities
LoanOriginationLiabilities
6198000 USD
CY2013Q3 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
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
3714146000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
3414764000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4001208000 USD
CY2013Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4170686000 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
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
632846000 USD
CY2013Q3 us-gaap Treasury Stock Value
TreasuryStockValue
615889000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
4090000 USD
CY2012Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
1378000 USD
CY2013Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
1712000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
8411000 USD
CY2013Q3 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
1712000 USD
us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
4090000 USD
CY2012Q3 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
1378000 USD
us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
8411000 USD
CY2013Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
10459000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12300000 USD
us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1838000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
20500000 USD
CY2013Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
16347000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
996000 USD
CY2013Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
6798000 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>
CY2013Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
1466500000 USD
CY2012Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
2128600000 USD
CY2012Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
737200000 USD
CY2013Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
499600000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
217135000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
225335000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
219580000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
226002000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
186397000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
190119000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
186761000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
190799000 shares
CY2012Q3 len Active Communities
ActiveCommunities
442
CY2013Q3 len Active Communities
ActiveCommunities
512
CY2012Q4 len Aggregate Principal Balance Of Loans Held For Sale
AggregatePrincipalBalanceOfLoansHeldForSale
479130000 USD
CY2013Q3 len Aggregate Principal Balance Of Loans Held For Sale
AggregatePrincipalBalanceOfLoansHeldForSale
334842000 USD
len Cash Payments To Decreased In Maximum Recourse Exposure
CashPaymentsToDecreasedInMaximumRecourseExposure
5896000 USD
CY2013Q3 len Chinese Drywall Accrual
ChineseDrywallAccrual
82235000 USD
CY2013Q3 len Chinese Drywall Number Of Homes
ChineseDrywallNumberOfHomes
1010
CY2013Q3 len Chinese Drywall Percentage Of Homes
ChineseDrywallPercentageOfHomes
0.012
len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
5525000 USD
CY2013Q3 len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
0 USD
CY2012Q3 len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
88000 USD
len Companys Share Of Valuation Adjustments Related To Assets Included In Equity Loss
CompanysShareOfValuationAdjustmentsRelatedToAssetsIncludedInEquityLoss
0 USD
len Decreases In Accrued Interest And Penalties
DecreasesInAccruedInterestAndPenalties
5168000 USD
CY2013Q3 len Decreases In Accrued Interest And Penalties
DecreasesInAccruedInterestAndPenalties
2395000 USD
len Decreases In Consolidated Inventory Not Owned
DecreasesInConsolidatedInventoryNotOwned
-145893000 USD
len Decreases In Maximum Recourse Exposure
DecreasesInMaximumRecourseExposure
25588000 USD
CY2013Q3 len Deferred Tax Assets Operating Loss Carryforwards State Expire In One Year
DeferredTaxAssetsOperatingLossCarryforwardsStateExpireInOneYear
7873000 USD
len Distributions Of Earnings From Subsidiaries
DistributionsOfEarningsFromSubsidiaries
0 USD
len Distributions Of Earnings From Subsidiaries
DistributionsOfEarningsFromSubsidiaries
0 USD
len Effective Income Tax Rate Continuing Operations Before Net Increases Decreases Of Gross Unrecognized Tax Benefits
EffectiveIncomeTaxRateContinuingOperationsBeforeNetIncreasesDecreasesOfGrossUnrecognizedTaxBenefits
0.2043
len Employee And Director Plan
EmployeeAndDirectorPlan
18949000 USD
len Employee And Director Plan
EmployeeAndDirectorPlan
34396000 USD
CY2013Q3 len Equity In Income Loss From Subsidiaries
EquityInIncomeLossFromSubsidiaries
USD
CY2012Q3 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 Escrow Deposit Period
EscrowDepositPeriod
P3D
len Exercise Of Land Option Contracts From Unconsolidated Land Investment Venture
ExerciseOfLandOptionContractsFromUnconsolidatedLandInvestmentVenture
27329000 USD
len Exercise Of Land Option Contracts From Unconsolidated Land Investment Venture
ExerciseOfLandOptionContractsFromUnconsolidatedLandInvestmentVenture
48242000 USD
CY2013Q3 len Federal Taxable Income Necessary To Recognize Deferred Tax Asset
FederalTaxableIncomeNecessaryToRecognizeDeferredTaxAsset
809700000 USD
CY2013Q3 len Guarantee By Subsidiaries
GuaranteeBySubsidiaries
75000000 USD
len Income Tax Expense
IncomeTaxExpense
150161000 USD
CY2013Q3 len Income Tax Expense
IncomeTaxExpense
67869000 USD
len Intercompany Financing
IntercompanyFinancing
USD
len Intercompany Financing
IntercompanyFinancing
USD
len Intercompany Investing
IntercompanyInvesting
0 USD
len Intercompany Investing
IntercompanyInvesting
0 USD
CY2012Q4 len Joint And Several Recourse Debt Repayment
JointAndSeveralRecourseDebtRepayment
18695000 USD
CY2013Q3 len Joint And Several Recourse Debt Repayment
JointAndSeveralRecourseDebtRepayment
15000000 USD
CY2012Q4 len Joint And Several Reimbursement Agreements With Companys Partners
JointAndSeveralReimbursementAgreementsWithCompanysPartners
16826000 USD
CY2013Q3 len Joint And Several Reimbursement Agreements With Companys Partners
JointAndSeveralReimbursementAgreementsWithCompanysPartners
13500000 USD
CY2013Q3 len Loan Origination Liabilities
LoanOriginationLiabilities
8634000 USD
CY2012Q3 len Loan Origination Liabilities
LoanOriginationLiabilities
6154000 USD
CY2012Q3 len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
1215000 USD
CY2013Q2 len Loan Origination Liabilities
LoanOriginationLiabilities
8257000 USD
len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
529000 USD
CY2012Q3 len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
209000 USD
CY2013Q3 len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
16000 USD
len Loan Origination Liabilities Payments Or Settlements
LoanOriginationLiabilitiesPaymentsOrSettlements
306000 USD
CY2012Q4 len Maximum Recourse Exposure
MaximumRecourseExposure
66715000 USD
CY2013Q3 len Maximum Recourse Exposure
MaximumRecourseExposure
41126000 USD
len Net Disposals Additions Of Operating Properties And Equipment
NetDisposalsAdditionsOfOperatingPropertiesAndEquipment
-4931000 USD
len Net Disposals Additions Of Operating Properties And Equipment
NetDisposalsAdditionsOfOperatingPropertiesAndEquipment
-3201000 USD
len Net Increase In Consolidated Inventory Not Owned
NetIncreaseInConsolidatedInventoryNotOwned
206671000 USD
len Net Payments Receipts To From Noncontrolling Interest
NetPaymentsReceiptsToFromNoncontrollingInterest
-174274000 USD
len Net Payments Receipts To From Noncontrolling Interest
NetPaymentsReceiptsToFromNoncontrollingInterest
566000 USD
len Net Proceeds From Convertible And Senior Notes
NetProceedsFromConvertibleAndSeniorNotes
445186000 USD
CY2013Q3 len Net Recourse Exposure
NetRecourseExposure
27626000 USD
CY2012Q4 len Net Recourse Exposure
NetRecourseExposure
49889000 USD
len Number Of Communities Assessed For Impairment
NumberOfCommunitiesAssessedForImpairment
31
len Number Of Communities Impaired
NumberOfCommunitiesImpaired
3
len Number Of Homesites Assessed For Impairment
NumberOfHomesitesAssessedForImpairment
954
len Number Of Homesites Impaired
NumberOfHomesitesImpaired
99
CY2013Q3 len Other Loan Paydowns
OtherLoanPaydowns
5091000 USD
len Other Loan Paydowns
OtherLoanPaydowns
5969000 USD
len Other Loan Paydowns
OtherLoanPaydowns
5200000 USD
CY2012Q3 len Other Loan Paydowns
OtherLoanPaydowns
1300000 USD
CY2013Q3 len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
0 USD
len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
0 USD
len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
0 USD
CY2012Q3 len Payments Under Completion Guarantees
PaymentsUnderCompletionGuarantees
0 USD
len Provision For Loan Losses
ProvisionForLoanLosses
380000 USD
len Provision For Loan Losses
ProvisionForLoanLosses
1342000 USD
CY2012Q3 len Provision For Loan Losses
ProvisionForLoanLosses
165000 USD
CY2013Q3 len Provision For Loan Losses
ProvisionForLoanLosses
569000 USD
len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
253000 USD
len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
348000 USD
CY2013Q3 len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
-176000 USD
CY2012Q3 len Provision For Losses Preexisting Increase Decrease
ProvisionForLossesPreexistingIncreaseDecrease
0 USD
len Sales Incentives
SalesIncentives
256726000 USD
CY2013Q3 len Sales Incentives
SalesIncentives
92812000 USD
CY2012Q3 len Sales Incentives
SalesIncentives
94304000 USD
len Sales Incentives
SalesIncentives
274022000 USD
CY2012Q3 len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
26000 USD
len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
20000 USD
CY2013Q3 len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
19000 USD
len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
30000 USD
CY2012Q4 len Unconsolidated Entities With Recourse Debt Carrying Amount Assets
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountAssets
1843163000 USD
CY2013Q3 len Unconsolidated Entities With Recourse Debt Carrying Amount Assets
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountAssets
1639382000 USD
CY2013Q3 len Unconsolidated Entities With Recourse Debt Carrying Amount Equity
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountEquity
1189928000 USD
CY2012Q4 len Unconsolidated Entities With Recourse Debt Carrying Amount Equity
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountEquity
1077868000 USD
CY2013Q3 len Unconsolidated Entities With Recourse Debt Carrying Amount Liabilities
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountLiabilities
449454000 USD
CY2012Q4 len Unconsolidated Entities With Recourse Debt Carrying Amount Liabilities
UnconsolidatedEntitiesWithRecourseDebtCarryingAmountLiabilities
765295000 USD
len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
3549000 USD
CY2013Q3 len Undistributed Earnings Reallocated Diluted
UndistributedEarningsReallocatedDiluted
1489000 USD
CY2012Q4 len Several Recourse Debt Repayment
SeveralRecourseDebtRepayment
48020000 USD
CY2013Q3 len Several Recourse Debt Repayment
SeveralRecourseDebtRepayment
26126000 USD
len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
6086000 USD
CY2012Q3 len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
6193000 USD
len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
18196000 USD
CY2013Q3 len Total Of Valuation Adjustments And Write Offs
TotalOfValuationAdjustmentsAndWriteOffs
968000 USD
CY2012Q3 len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
4651000 USD
len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
4207000 USD
CY2013Q3 len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
18000 USD
len Valuation Adjustments To Finished Homes Cip And Land Under Development
ValuationAdjustmentsToFinishedHomesCIPAndLandUnderDevelopment
9080000 USD
len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
897000 USD
CY2012Q3 len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
0 USD
len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
18000 USD
CY2013Q3 len Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
861000 USD
CY2013Q3 len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
27000 USD
CY2012Q3 len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
144000 USD
len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
430000 USD
len Valuation Adjustments To Land With Intend To Sell Or Has Sold To Third Parties
ValuationAdjustmentsToLandWithIntendToSellOrHasSoldToThirdParties
492000 USD
CY2013Q3 len Variable Interest Entities Letters Of Credit
VariableInterestEntitiesLettersOfCredit
11960000 USD
CY2012Q4 len Variable Interest Entities Letters Of Credit
VariableInterestEntitiesLettersOfCredit
42500000 USD
CY2013Q3 len Variable Interest Entities Non Refundable Option Deposits And Pre Acquisition Costs
VariableInterestEntitiesNonRefundableOptionDepositsAndPreAcquisitionCosts
114578000 USD
CY2012Q4 len Variable Interest Entities Non Refundable Option Deposits And Pre Acquisition Costs
VariableInterestEntitiesNonRefundableOptionDepositsAndPreAcquisitionCosts
176700000 USD
CY2012Q3 len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
1310000 USD
CY2013Q3 len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
62000 USD
len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
552000 USD
len Write Offs Of Option Deposits And Preacquisition Costs
WriteOffsOfOptionDepositsAndPreacquisitionCosts
2081000 USD
CY2013Q3 len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
0 USD
len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
1000000 USD
len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
0 USD
CY2012Q3 len Write Offs Of Other Receivables And Other Assets
WriteOffsOfOtherReceivablesAndOtherAssets
0 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
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-08-31
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/
CY2013Q3 invest Derivative Notional Amount
DerivativeNotionalAmount
170000000 USD

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